RAS question
RuPay card was launched by:
Correct answer: (B) NPCI.
RuPay was launched by the National Payments Corporation of India as India’s indigenous card payment network.
Explanation
RuPay was launched by NPCI on 26 March 2012 as India’s own card payment network, positioned against global networks such as Visa and Mastercard. The cited PIB release supports NPCI’s role by identifying the National Payment Corporation of India as the authorised entity under the Payment and Settlement Systems Act, 2007, and noting that RBI had granted approval for the public launch of RUPAY affiliated cards issued by banks. This matters because RuPay is not a bank card brand created by one bank; it is a domestic payment network with lower transaction costs, and it later became closely linked with PMJDY accounts.
Why the other options are wrong
- (A) Visa India is a competing card network in India, whereas the question asks about India’s indigenous RuPay network launched by NPCI.
- (C) SBI can issue or partner on RuPay cards, but it did not launch the RuPay card payment network.
- (D) RBI granted approval for the public launch, but the launch and network role belonged to NPCI, not RBI.
Concept
This tests the Indian Economy theme of financial inclusion and payment systems. RAS repeats such questions because institutions such as NPCI, RBI and banks have distinct roles in India’s digital payments architecture.