NPCI Spins Out Fourth Subsidiary NTSL to Build AI and Blockchain Capabilities Beyond UPI
NPCI Spins Out Fourth Subsidiary NTSL to Build AI and Blockchain Capabilities Beyond UPI #
India’s National Payments Corporation of India (NPCI) has established a wholly owned technology subsidiary called NPCI Tech Solutions Limited (NTSL), its fourth wholly owned subsidiary. The launch was announced on November 4.
According to NPCI, NTSL will serve as the group’s technology and innovation arm, covering artificial intelligence, blockchain, digital financial infrastructure, and global capability centre (GCC) services.
NPCI has appointed Vishal Kanvaty as NTSL’s Managing Director and Chief Executive Officer. Kanvaty previously served as NPCI’s Chief Technology Officer and spent nearly a decade at the organisation, leading the development and commercialisation of several technology platforms that now fall under NTSL’s remit.
NTSL will also support India’s digital public infrastructure (DPI) ecosystem. The subsidiary is expected to provide technology services for government-linked programmes including eKYC Setu, an electronic know-your-customer platform used by financial institutions for identity verification, and the Unified Ticketing Platform (UTP), which supports transit and ticketing infrastructure across the country.
NPCI Managing Director and CEO Dilip Asbe cited rapid technological change as the rationale. “Advancements in artificial intelligence and other emerging technologies are creating new possibilities across digital infrastructure and financial services,” he said in the company’s statement.
The move comes as India expands domestic AI research and development capacity in the banking and financial services sector. NPCI operates UPI, one of the world’s largest real-time payments systems, which has drawn international interest as a model for national digital payment infrastructure.
The dedicated subsidiary structure separates NTSL’s innovation work from NPCI’s core payments operations. The GCC services mandate also gives NTSL scope to offer technology services to third-party clients domestically and internationally, including in distributed ledger applications and AI-driven financial infrastructure.
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