The National Payments Corporation of India (NPCI) is in the process of increasing its paid-up capital by broadbasing its stakeholder base of current 10 banks.
NPCI Chairman, M. Balachandran, said “Going forward, we need funds to meet our capital expenditure. The Reserve Bank has been asking us to increase our share capital. Right now, we are in the process of widening our existing stakeholder base. The open offer will be made to other banks. The first tranche will be completed by the year-end.”
Currently, NPCI has an authorised share capital of Rs.300 crore and a paid-up capital of Rs.100 crore, shared by 10 banks in the ratio of Rs.10 crore each. The list includes six public sector banks , two foreign banks and two private banks .
Sources said that the Corporation was planning to rope in 50 more banks. The total infusion would be in the region of another Rs.100 crore. While the existing promoters might not get a chance to invest in the next round of funding, plans are also on to include small banks and payment banks.
On an average, NPCI switch handles 14-15 million transactions per day that includes payment of LPG subsidy through Direct Benefit Transfer and deals at ATM/point-of-sale terminals across the country. “Step by step, the Centre is planning to include more schemes such as scholarship, education stipend, old age pension and NREGA among others. Sensing the potential, we are increasing the handling capacity from 20 million transactions per day to 40 millions per day,” he said.
