Indian Economy

Which one of the following links all the ATMs in India?

  1. Indian banks' Association 
  2. National Securities Depository Limited 
  3. National Payments Corporation of India 
  4. Reserve Bank of India

Answer

National Financial Switch (NFS) is the largest network of shared automated teller machines (ATMs) in India. It was designed, developed and deployed by the Institute for Development and Research in Banking Technology (IDRBT) in 2004, with the goal of inter-connecting the ATMs in the country and facilitating convenience banking.

It is run by the National Payments Corporation of India (NPCI). NPCI is an umbrella organisation for all retail payments in India. It was set up with the guidance and support of the Reserve Bank of India (RBI) and Indian Banks Association (IBA).

The correct option is C.