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    Question

    BHIM (Bharat Interface for Money) is an Indian mobile

    payment app developed by the_______________________, based on the Unified Payments Interface (UPI).
    A Banking Codes and Standards Board of India (BCSBI) Correct Answer Incorrect Answer
    B Bharatiya Reserve Bank Note Mudran Correct Answer Incorrect Answer
    C Security Printing and Minting Corporation of India Correct Answer Incorrect Answer
    D National Payments Corporation of India (NPCI) Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Government of India has clarified that there is no plan to levy any charges for UPI services. In a series of tweets, Finance Ministry said, UPI is a digital public good with immense convenience for the public and productivity gains for the economy. The clarification came amid some reports that there may be possibility of UPI transactions charge. The Ministry said, the concerns of the service providers for cost recovery have to be met through other means. It said, the government had provided financial support for the Digital Payment ecosystem last year and has announced the same, this year as well to encourage further adoption of Digital Payments and promotion of payment platforms that are economical and user-friendly. BHIM (Bharat Interface for Money) is an Indian mobile payment app developed by the NPCI, based on the UPI.

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