New Enroll for RBI, PFRDA & NABARD Intro Class! April 18 at 9:15 PM

    Question

    Which of the following statements is true regarding the

    RBI's directives regarding digital transactions?
    A RBI granted final approval to PayU as a payment aggregator. Correct Answer Incorrect Answer
    B RBI asked Kotak Mahindra Bank to cease all banking operations. Correct Answer Incorrect Answer
    C RBI directed fintech companies to monitor high-value transactions during elections for the first time. Correct Answer Incorrect Answer
    D RBI allowed all banks to issue unlimited new credit cards. Correct Answer Incorrect Answer
    E RBI has relaxed its regulations on outward remittances under the LRS. Correct Answer Incorrect Answer

    Solution

    RBI directed fintech companies to monitor high-value transactions during elections for the first time.   For the first time, the Reserve Bank of India has directed fintech companies, including those processing payments, to track high-value transactions during the Lok Sabha election. This marks a significant change as previously, such monitoring directives were typically aimed at banks.

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