NPCI incorporates NPCI BHIM Services Ltd as a wholly-owned subsidiary

The National Payments Corporation of India (NPCI) on Tuesday incorporated Bharat Interface for Money (BHIM) as a wholly-owned subsidiary, hiving it off into a new entity known as NPCI-BHIM Services Ltd (NBSL).

Former banker Lalitha Nataraj will head the new subsidiary as its chief executive officer (CEO). Nataraj has previously worked with IDFC FIRST Bank and ICICI Bank.