India’s National Payments Corporation of India (NPCI) has established a wholly owned technology subsidiary to expand its presence in emerging technologies, digital financial infrastructure, and Global Capability Centre (GCC) services beyond its traditional payments operations.
The new entity, NPCI Tech Solutions Limited (NTSL), will serve as the technology and innovation arm of the NPCI Group. The organization has appointed Vishal Kanvaty as Managing Director and Chief Executive Officer to lead the subsidiary and oversee its expansion into new technology domains.
NTSL to Focus on AI, Blockchain and Digital Infrastructure
NTSL will focus on developing capabilities in artificial intelligence (AI), blockchain, digital financial infrastructure, and Global Capability Centre services, extending NPCI’s technology operations beyond its core payments mandate.
The subsidiary is expected to support the growing demand for advanced technology solutions across India’s financial services ecosystem. Its establishment reflects NPCI’s broader strategy to strengthen its technology capabilities and participate in emerging areas of digital innovation.
AI and blockchain are among the technologies receiving increasing attention from financial institutions and infrastructure providers. Their potential applications include improving operational efficiency, strengthening digital systems, automating processes, and supporting new financial services.
By creating a dedicated subsidiary, NPCI aims to establish a separate organizational structure for developing and commercializing technology solutions in these areas. The move could also enable the group to expand its services to a wider range of digital infrastructure initiatives.
Subsidiary to Support eKYC Setu and Unified Ticketing Platform
NTSL will also provide technology services for several digital infrastructure initiatives, including eKYC Setu and the Unified Ticketing Platform (UTP).
These initiatives form part of the broader effort to strengthen India’s Digital Public Infrastructure (DPI) ecosystem. The subsidiary’s involvement is expected to support the development and operation of technology platforms that facilitate digital identity verification, financial services, and integrated public infrastructure.
The expansion into GCC services also creates opportunities for NPCI to provide technology capabilities through specialized service operations. Such centers can support technology development, business operations, and digital transformation requirements across different sectors.
The new structure could help NPCI address technology requirements that extend beyond payment processing while creating additional opportunities to develop solutions for India’s expanding digital economy.
Vishal Kanvaty Appointed to Lead NTSL
NPCI has appointed Vishal Kanvaty as the Managing Director and CEO of NTSL. Kanvaty has been associated with NPCI for nearly a decade and has played a role in developing and commercializing several technology and market innovation platforms.
His previous experience is expected to support the subsidiary’s efforts to establish capabilities across AI, blockchain, digital infrastructure, and other emerging technology segments.
Kanvaty’s appointment also provides leadership continuity as NPCI expands its technology operations into areas that require specialized expertise and commercial development strategies.
NPCI Strengthens Its Technology Expansion Strategy
NPCI Managing Director and CEO Dilip Asbe indicated that technology had remained central to the organization’s development and its contribution to India’s digital transformation.
He explained that advances in AI and other emerging technologies were creating new opportunities across digital infrastructure and financial services. According to Asbe, NTSL had been established to concentrate on these opportunities and strengthen the technology capabilities of the wider NPCI Group.
Asbe also expressed confidence that Kanvaty’s experience and leadership would help guide the subsidiary’s development and establish its future direction.
The establishment of NTSL marks a strategic expansion of NPCI’s operations, positioning the organization to participate more directly in emerging technology markets while supporting India’s evolving Digital Public Infrastructure ecosystem.
The subsidiary’s progress will depend on its ability to develop commercially viable technology services and contribute to the implementation of large-scale digital infrastructure projects. Its activities could also help expand the role of NPCI beyond payments into a broader technology services provider.
With dedicated leadership and a wider technology mandate, NTSL represents a new phase in NPCI‘s efforts to support India’s digital transformation.