You have already answered your questions but few important things i need to add.
See, In today's era, Visa/MasterCard/Swift is a modern day East India company.
Visa and MasterCard are not just selling any products. They control our Indian economy, our Indian rupees.
Visa/MasterCard/Swift decide where can we spend our money and where not + Visa/MasterCard only focus on premium to ultra premium customers. What about poor people of Indian, rural area, villages, small banks etc ?
That's why RBI and Indian govt setup NPCI and Indian banks (PSU & Private), foreign banks are the shareholders of NPCI.
Now RBI and Indian govt help NPCI to expand in those areas where Visa/MasterCard is not available + International expansion.
But it does not mean that NPCI is a govt company. The govt is helping NPCI for what it was created for.
Similar case about Visa/mastercard. The Visa/mastercard was created to help US people, digitize America and expand US tech to worldwide.
US govt waste lots of tax payers money to promote visa/mastercard.
When everything is completed. Us govt turn visa/mastercard is a for-profit company in 2008.
The day when govt gives up NPCI, NPCI will launch Ultra premium cards like Infinia, Atlas, Magnus, Burgundy etc. NPCI dnt take too much time to launch RuPay Card value added services like RuPay AutoPay/recurring payment, Tokenization, RuPay contactless payment through GPay, SamsungPay etc.
NPCI will not care about poor people or small banks, our dream of Digital India will never come true. NPCI will start charging for UPI transaction,
If you dnt know or remember then let me tell you. Before 2020, NPCI charge 0.10% upto Rs1000 for UPI merchant payment and 0.25% on payment above Rs1000 for UPI merchant transaction.
Do you know our 70% Indian population live in villages ? where Visa/mastercard is not available or some small banks issue Visa/mastercard with higher card fees.
Do you know Everyday NPCI launch more than 3 to 4 RuPay cards ? just few weeks ago RBI told - total 1250+ banks issue RuPay cards. Now RuPay card launch 10 years ago and we already know every bank issue Jandhan yojna RuPay card, Kishan RuPay card and Mudra RuPay card. Also some banks launch few other govt scheme RuPay cards too like PunGrain RuPay card for Punjab Government, Gujarat govt launch RuPay card for dairy farmers, Jharkhand govt launch Fisherman RuPay card, Recently Tamil nadu govt launch 'Pudhumai Penn' scheme RuPay cards for financial aid to women graduates etc.
There are 3650 days in 10 years, if we count NPCI launch atleast 3 RuPay cards (Jandhan/Mudra/Kisan card) per bank then 1250 banks = 3750 different types of RuPay cards launch in last 10 years.
Now think about it, How much time does it take from each bank to launch a new card product, prepare it and give go live certification.
Dnt forget, i didn't count RuPay credit cards, classic, platinum and select cards, wallet cards, prepaid cards, gift cards and recently launch RuPay forex prepaid cards.
Just last year NPCI told, NPCI enabled total 1000 banks for e-com RuPay debit card transactions.
You guys need to understand a simple thing, NPCI dnt have must time to launch all fancy cards (i mean premium/ultra premium cards) because govt setup NPCI to help poor people/small banks etc.
And this is why the govt gives taxpayers' money to a private company NPCI (ya NPCI is a private company).
Well, No. Because NPCI is a not-for-profit organisation registered under Section 8 of the Companies Act 2013.
Many people dnt understand not-for-profit org means "any private/public/govt company can be non-profit company".
Non-profit company work for public good, welfare, not-for-profit org also work with govt and the govt also give taxpayers' money to help the society and country. And that's why we pay taxes, right ? So, our country will develop.
Oh, by the way, in a non-profit organization, shareholders dnt receive any dividends.
The day when govt gives up NPCI, i mean govt hive off NPCI, not-for-profit org to for-profit org. NPCI will focus only on uppar middle class to ultra premium customers. And this happened because NPCI's shareholders are HDFC, ICICI, SBI, BOB, PNB, Canara, Union Bank, Axis bank, HSBC, Citi Bank etc.
Even if you beg from banks like HDFC, ICICI, SBI, Axis, you will not get Visa/mastercard. Why would they do that ? because those bank not only earn from MDR but they will also indirectly earn from dividends. The more RuPay cards issued, the more profits the shareholders will get.
@noobdipesh
