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Q16: In India, which two entities operate the Large Value Payment Systems (LVPS)?

A
National Payments Corporation of India (NPCI), and Clearing Corporation of India Limited (CCIL)
B
Reserve Bank of India (RBI), and National Payments Corporation of India (NPCI)
C
Reserve Bank of India (RBI), and Clearing Corporation of India Limited (CCIL)
D
All commercial banks, and the Ministry of Finance
✅ Correct Answer: C
In India, the Large Value Payment Systems (LVPS) are operated by two entities.
The Reserve Bank of India (RBI) operates the Real Time Gross Settlement (RTGS) system.
The Clearing Corporation of India Limited (CCIL) operates other LVPS related to government securities.
This operational framework is detailed in the RBI's Payment Systems Report - June 2025.
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