Accordingly, in the year 2009, the NPCI started its role as a payment system provider by operating the ATM network when IDRBT handed over to it the National Financial Switch (NFS). Thereafter, the RBI requisitioned the NPCI to operate the Cheque Truncation System (CTS) on its behalf. 3.
Our existing interbank payment services have nationwide reach, meaning that an accountholder at one commercial bank can make a payment to an accountholder at any other U.S. bank. The same applies to international payments—accountholders at U.S. banks can transfer funds abroad to accountholders at foreign banks.