India's NPCI Forms Tech Subsidiary for AI and Blockchain Work
The UPI operator announced NPCI Tech Solutions Limited on 4 November, its fourth subsidiary, led by the group CTO.
NPCI, the operator of India's UPI payments system, has formed NPCI Tech Solutions Limited (NTSL), its fourth subsidiary, to work on AI, blockchain, digital financial infrastructure and GCC services beyond its core payments mandate, according to reports carried by Reuters and Moneycontrol and compiled on 5 November. The unit is led by NPCI group CTO Vishal Kanvaty.
The announcement came alongside record October figures for UPI: 25.47 billion transactions and more than ₹30 lakh crore in value for the first time. Yet the technical decline rate of the twenty largest banks on the network rose from 0.18 to 0.24 percent, with ICICI Bank jumping from 0.03 to 0.73 percent — a signal of strain as volumes scale. The move formalizes a broader trend of national payment operators building in-house technology capabilities rather than relying solely on external vendors, a pattern watched closely by payment systems in other fast-growing markets.