Civil Services Prep

Prelims 2018 · Economy · Question 15

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 Payments Corporation of India

  • (a) Indian Banks' Association: It is an industry body of banks; it does not operate the nationwide ATM switching network. Verdict: Incorrect.
  • (b) National Securities Depository Limited: NSDL is a securities depository for shares and bonds, unrelated to linking ATMs. Verdict: Incorrect.
  • (c) National Payments Corporation of India: NPCI operates the National Financial Switch (NFS), which interconnects ATMs across India. Verdict: Correct.
  • (d) Reserve Bank of India: RBI is the regulator of banking and payments, but it does not directly link all ATMs. Verdict: Incorrect.

Answer: (c) National Payments Corporation of India.

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