NPCI and Fonepay have collaborated for cross-border UPI transactions between India and Nepal. Consider the following statements about the National Payments Corporation of India (NPCI):
- The National Payments Corporation of India (NPCI) is an umbrella organization for retail payments in India.
- It was established by the Reserve Bank of India (RBI) and the Indian Banks' Association (IBA) under the provisions of the Banking Regulation Act, 1949.
- It has been incorporated as a “Not for Profit” Company under the Companies Act 1956.
Which of the following options is/are INCORRECT?
1
1 only
2
2 only
3
1 and 2 only
4
2 and 3 only
5
All of the above