[alephnerd]

> It is a not-for profit, but not publicly funded.

That's a bit disingenuous.

51-55% of NPCI's ownership is the RBI and PSU Banks (operated by Ministry of Finance) [0], so in reality it's a public private partnership between the Ministry of Finance and Private Sector banks.

A good comparison to the NPCI would probably be the Federal Reserve system in the US, but NPCI is a bit more autarkic.

[0] - https://www.npci.org.in/PDF/npci/corporate-governance/shareh...

[sifar]

I mean technically yes, but the reason I feel it is nothing to cheer about is if you understand how these public funded corporations work in India. They are mostly the worst of both worlds - you get a monopoly with lousy service.

For e.g the case of IRCTC which is the commercial arm of Indian railways and look at the insane price gouging that has been happening.

In the end, people end up over paying for sub-par products/services.