India, Nov. 4 -- The National Payments Corporation of India (NPCI) has set up a wholly owned subsidiary, NPCI Tech Solutions Ltd (NTSL), to build capabilities in AI, blockchain, and digital financial infrastructure beyond its core payments mandate.

The retail payments operator has appointed Vishal Kanvaty, who has been associated with NPCI for nearly a decade, as the subsidiary's MD and CEO.

NPCI said NTSL will serve as the group's technology and innovation arm. Its remit will also include global capability centre (GCC) services and technology services for eKYC Setu, the Unified Ticketing Platform (UTP), and other digital public infrastructure (DPI) programmes.

According to NPCI, Kanvaty has led the development and commercialisation of...