[wtmt]

> Both these are in direct contrast to NPCI's charter which is a not-for-profit and entirely owned by Indian entities.

By Indian entities, if you do include Citibank and HSBC (local arms), then yes. The promoters are private and public banks.

> In fact NPCI is a quasi government organisation, owned by a combination of RBI and Indian banking association.

It's promoted by RBI, but not really owned by it. The ownership lies with the consortium of private and public banks.