Definition
National Payments Corporation of India – The not-for-profit body set up by the Reserve Bank of India and the banks that runs India's retail payment rails, including UPI» and RuPay. It publishes the monthly UPI volume statistics that apps' market shares are quoted from, and it issues the circulars (such as the 30% volume cap on a single app) that app providers must follow. Found In: Risk factors, industry sections, regulatory disclosures