NPCI Launches Technology Subsidiary for AI and Blockchain & Appoints Vishal Kanvaty as CEO

The National Payments Corporation of India (NPCI) has set up a wholly-owned subsidiary called NPCI Tech Solutions Limited (NTSL). NPCI announced on 4 November 2026 that it has appointed Vishal Kanvaty, its Chief Technology Officer to the position of Managing Director and Chief Executive Officer of NTSL. NTSL will provide new tech capabilities within the NPCI group including AI, blockchain, digital financial and tech capabilities for digital public infrastructures.

Areas of Focus for NPCI Tech Solutions Limited

NTSL will be focused on new technologies and digital infrastructural capabilities.

Some of these areas are,

Artificial Intelligence (AI) – Developing capabilities in AI and promoting innovation.
Blockchain – Developing capabilities in Blockchain technology.
Digital Financial Infrastructural – Supporting the development of new technology capabilities.
Global Capability Centre (GCC) Services – Developing capabilities.
Digital Public Infrastructure – Providing technology capabilities for eKYC Setu, Unified Ticketing Platform (UTP) and many more DPI programs.

It will provide new capabilities outside of its core payments business.

Appointment of Vishal Kanvaty as MD and CEO of NTSL

NPCI has appointed Vishal Kanvaty to the role of Managing Director and Chief Executive Officer of NPCI Tech Solutions Limited.

Vishal has been working with NPCI since 2017 in product and innovation roles.

Prior to taking up the role of CTO at NPCI in April 2023, he had been leading the market innovation portfolio and developing and commercialising multiple market innovation platforms.

Fourth Wholly-Owned Subsidiary

NPCI Tech Solutions Limited has been set up as the fourth wholly-owned subsidiary. These include,

Subsidiary	Primary Role
NPCI International Payments Limited (NIPL)	Oversees international growth of UPI and RuPay
NPCI Bharat BillPay Limited (NBBL)	Operates the bill pay network
NPCI BHIM Services Limited (NBSL)	Operates the BHIM app
NPCI Tech Solutions Limited (NTSL)	Technology and innovation such as AI, Blockchain and Digital Infrastructure.

Setting up the subsidiary was approved by the NPCI board and RBI.

What is the National Payments Corporation of India?

The National Payments Corporation of India was formed by the RBI and IBA. It is a not-for-profit company which runs key retail payment systems in India.

Key offerings and platforms include,

Unified Payments Interface (UPI) – allows instant payments between bank accounts.
RuPay – domestic card payments platform.
Immediate Payment Service (IMPS) – instant electronic fund transfers.
National Automated Clearing House (NACH) – facilitates large and recurring electronic payments.
National Electronic Toll Collection (NETC) – facilitates electronic toll payments using FASTag.
Aadhaar Enabled Payment System (AePS) – enables basic banking transactions using Aadhaar.
e-RUPI – a contactless, cashless payment solution using electronic vouchers.

Creating the subsidiary provides a new focus to NPCI, moving them away from running retail payment systems to developing new capabilities in new technologies and infrastructure.