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- NPCI incorporated NPCI BHIM Services as a wholly-owned subsidiary.
- National Payments Corporation of India (NPCI) incorporated Bharat Interface for Money (BHIM) as a wholly-owned subsidiary.
- The new entity is known as NPCI-BHIM Services Ltd (NBSL).
- Lalitha Nataraj will be the chief executive officer (CEO) of the new subsidiary.
- Lalitha Nataraj has earlier worked with IDFC FIRST Bank and ICICI Bank.
- Rahul Handa will be chief business officer (CBO) of NPCI-BHIM Services Ltd (NBSL).
- He had worked as the executive vice president at the Open Network for Digital Commerce (ONDC).
- At present, PhonePe and Google Pay jointly process about 85% of UPI volumes in India.
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