NPCI—What Is It? How Does It Work? – SBNRI

 The full form of NPCI is the National Payments Corporation of India. An initiative of the Reserve Bank of India, NPCI is an umbrella organisation for operating retail payment and settlement systems in India. It has been established by the Reserve Bank of India (RBI) and Indian Bank’s Association (IBA) as a “Not for Profit” company under the provision of Section 8 of Companies Act 2013, for creating a robust physical as well as electronic payment and settlement infrastructure in India.

SBNRI Team

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Maximum retail price – SBNRI | MRP Full Form

 The full form of MRP is Maximum Retail Price. It is the highest price that can be charged by manufacturers for a product before the sale in India. Maximum retail price must be labelled on every product sold in India. Maximum retail price printed on products is inclusive of all taxes. Retailers can’t charge customers more than the MRP. However, some shops may charge slightly below to attract more customers to their stores.

SBNRI Team

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CIBIL Full Form: Credit Information Bureau (India) Limited

 Credit Information Bureau India Limited is the full form of CIBIL. A part of TransUnion, CIBIL is a credit information company operating in India since August 2000. CIBIL, also known as the credit bureau, gathers and maintains credit records of individuals and business organizations. It aggregates borrowing and payment information of consumers and businesses for the purpose of assessing loan risk and interest rates.

SBNRI Team

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