New RBI Grade B Notification Coming Soon... Prepare with Us!! Click here to enroll

    Register

    Question

    Which of the following is a most likely consequence of implementing the 'Unified Payments Interface (UPI)'?

    A Mobile wallets will not be necessary for online payments. Correct Answer Incorrect Answer
    B Digital currency will totally replace physical currency in about two decades. Correct Answer Incorrect Answer
    C FDI inflows will drastically increase. Correct Answer Incorrect Answer
    D Direct transfer of subsidies to poor people will become very effective. Correct Answer Incorrect Answer
    E All of the above Correct Answer Incorrect Answer

    Solution

    Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing & merchant payments.

    Practice Next

    Relevant for Exams:

    ×
    ×