- A. Indian Banks’ Association
- B. National Securities Depository Limited
- C. National Payments Corporation of India
- D. Reserve Bank of India
Answer: C
Explanation
National Financial Switch (NFS) ATM network having 37 members and connecting about 50,000 ATMs was taken over by NPCI from Institute for Development and Research in Banking Technology (IDRBT) on December 14, 2009. Over the span of few years, NFS ATM network has grown many folds and is now the leading multilateral ATM network in the country. As on 31 st August’ 17, there were 941 members that includes 101 Direct, 776 Sub members, 56 RRBs and 8 WLAOs using NFS network connected to more than 2.37 Lac ATM. NFS has established a strong and sustainable operational model with in-house capabilities and today can be compared at par with other major and well-established switch networks. The operational functions and services are at par with most of the global ATM networks.