Consider the following statements.

1. National Payment Corporation of India (NPCI) helps in promoting the financial inclusion in the country.

2. NPCI has launched RuPay, a card payment scheme.

Which of the statements given above is/are correct?

The correct answer is Both 1 and 2.

Statement 1 is correct:
The National Payments Corporation of India (NPCI) is an umbrella organisation for operating retail payments and settlement systems in India. It was established by the Reserve Bank of India (RBI) and the Indian Banks' Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007. By creating a robust payment and settlement infrastructure, NPCI plays a vital role in facilitating digital transactions across all sections of society, thereby actively promoting financial inclusion in the country.

Statement 2 is correct:
NPCI launched RuPay in 2012, an Indian domestic card payment network. It was created to fulfill the Reserve Bank of India's vision of having a domestic, open, and multilateral system of payments. RuPay offers an alternative to international card schemes like Visa and Mastercard, reducing payment processing costs for domestic transactions and encouraging wider bank account adoption through initiatives like the Pradhan Mantri Jan Dhan Yojana (PMJDY).

Therefore, both statement 1 and statement 2 are correct.