National Payments Corporation of India

Statement 1 is correct—NPCI was established to develop, manage, and oversee the payment and settlement systems in India, with a key objective of promoting financial inclusion by enabling digital payments. Statement 2 is correct—NPCI launched RuPay in 2012, a domestic card payment scheme similar to Visa and Mastercard, designed to provide affordable payment solutions with lower fees, particularly to unbanked and underbanked populations. Both statements accurately describe NPCI's role and initiatives. > NPCI = Financial Inclusion + RuPay (Domestic card scheme). Answer: c.