National Payments Corporation of India (NPCI), Mumbai is an umbrella organization for all retail payments system in India. It was set up with the guidance and support of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA). The RBI, after setting up the Board for Regulation and Supervision of Payment and Settlement Systems (BPSS) in 2005, released a vision document incorporating a proposal to set up an umbrella institution for all the RETAIL PAYMENT SYSTEMS in the country. The core objective was to consolidate and integrate the multiple systems with varying service levels into nation-wide uniform and standard business process for all retail payment systems.

The bank will have an initial corpus of Rs 20,000 crore and a credit guarantee fund of and Rs.3,000 crore. The bank will initially function as a non-banking financial company and a subsidiary of the Small Industries Development Bank of India (SIDBI).

National Payments Corporation of India (NPCI) was incorporated in December 2008 and the Certificate of Commencement of Business was issued in April 2009. It has been incorporated as a Section 8 company under Companies Act, 2013 and is aimed to operate for the benefit of all the member banks and their customers. The authorised capital has been pegged at Rs 300 crore and paid up capital is Rs 100 crore so that the company can create infrastructure of large dimension and operate on high volume resulting payment services at fraction of the present cost structure.

NABARD was set up with an initial capital of 100 crore. Currently the share capital between Government of India and RBI, the paid up capital stood at 5000 crore with Government of India holding 4,980 crore (99.60%) and Reserve Bank of India 20.00 crore (0.40%).

KVP certificates are available in the denominations of Rs 1000, Rs 5000, Rs 10000 and Rs 50000. The minimum amount that can be invested is Rs 1000. However, there is no upper limit on the purchase of KVPs.

The amount invested in Kisan Vikas Patra would get doubled in 110 months or nine years and two months. The interest rate of KVP is 7.8 per cent annually.

National Savings Certificates, popularly known as NSC, is an Indian Government Savings Bond, primarily used for small savings and income tax saving investments in India. These can be purchased from any Post Office in India by an adult (either in his/her own name or on behalf of a minor), a minor, a trust, and two adults jointly. These are issued for five and ten year maturity and can be pledged to banks as collateral for availing loans. Currently the 5-year National saving certificate has the interest rate of 8.1%.

There is no maximum limit for investment. Certificates can be kept as collateral security to get loan from banks. Investment up to INR 1,00,000/- per annum qualifies for IT Rebate under section 80C of Income Tax Act. Trust and HUF cannot invest. Rate of interest effective from 1st April 2016 is 8.10%

A minimum yearly deposit of Rs. 500 is required to open and maintain a PPF account, and a maximum deposit of Rs.1.5 lakhs (as on Financial year 2015-2016) can be made in a PPF account in any given financial year. The subscriber should not deposit more than Rs.1.50 lac per annum as the excess amount will neither earn any interest nor will be eligible for rebate under Income Tax Act. The amount can be deposited in lump sum or in a maximum of 12 instalments per year.

The Public Provident Fund is a savings-cum-tax-saving instrument in India, introduced by the National Savings Institute of the Ministry of Finance in 1968.The aim of the scheme is to mobilize small savings by offering an investment with reasonable returns combined with income tax benefits. The current interest rate effective from 1 April 2016 is 8.1% Per Annum’ (compounded annually).