Consider the following statements: 1) National Payments Corporation of India (NPCI) helps in promoting financial inclusion in the country. 2) NPCI has launched RuPay, a card payment scheme. [2017]

Consider the following statements:

National Payments Corporation of India (NPCI) helps in promoting financial inclusion in the country.
NPCI has launched RuPay, a card payment scheme.

NPCI is an umbrella organization for operating retail payment settlement systems in India. It was established jointly by the RBI and the Indian Bank’s Association (IBA) under the Payment and Settlement Systems Act of 2007 to create a robust Payment & Settlement Infrastructure in India.

Services Offered by NPCI:
- Bharat Bill Payment Interface (BBPI): It was developed to help the retail payments sector. With its introduction, a single platform has been created for aggregators and billpayers.
- Immediate Payment Service (IMPS): This facility allows you to transfer funds immediately and is available at any time.
- RuPay: NPCI introduced RuPay so that average citizens can make financial decisions. RuPay is an affordable card and can be issued as credit cards, debit cards, and prepaid cards. More than 300 million RuPay cards are in India.
- USSD Services: Unstructured Supplementary Service Date (USSD) was introduced by the NPCI to allow individuals to make banking solutions without the need for the internet or smartphones.
- BHIM: BHIM uses UPI to complete payment transfers. You can make payments via BHIM by entering the Virtual Payment Address (VPA) or the registered mobile number. No smartphone is required to transfer funds via BHIM.
- UPI: United Payments Interface (UPI) allows you to transfer funds from your smartphone.