NPCI sets up wholly owned tech subsidiary NTSL to focus on AI and blockchain

India's payments authority NPCI has formed a wholly owned technology arm, NPCI Tech Solutions Limited (NTSL), to drive AI, blockchain and digital infrastructure development. The unit will be led by CTO Vishal Kanvaty and will build capabilities beyond NPCI's core payments mandate.

MUMBAI – The National Payments Corporation of India (NPCI) said on Wednesday it had established a wholly owned technology subsidiary called NPCI Tech Solutions Limited (NTSL) to serve as its technology and innovation arm. The unit will focus on areas such as artificial intelligence, blockchain, digital financial infrastructure and global capability centre services.

NPCI's chief technology officer Vishal Kanvaty, who has been with the organisation for nearly a decade, has been appointed managing director and chief executive of NTSL. The NPCI is the umbrella entity responsible for operating retail payments and settlement systems, including the widely used Unified Payments Interface (UPI).

The move comes as India increasingly looks to advance its AI research and development, particularly in the banking and financial services sector. NTSL will build capabilities beyond NPCI's core payments mandate and will provide technology services for several of India's digital public infrastructure programmes, NPCI said in its statement.

"Advancements in AI and other emerging technologies are creating new possibilities across digital infrastructure and financial services," NPCI CEO Dilip Asbe said. NTSL is NPCI's fourth wholly owned subsidiary, joining NPCI International Payments, NPCI Bharat BillPay and NPCI BHIM Services.