New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    Which of the following statements is/are NOT TRUE with

    respect to the UPI linkage by NPCI  ? I. The National Payments Corporation of India (NPCI) has announced the launch of the UPI-PayNow linkage that will enable Indians to receive remittances directly into their bank accounts from Singapore and vice-versa.   II. Currently, users of mobile-based applications such as Bharat Interface for Money (BHIM),Mobikwik  and Paytm can access the service. III. Banks including HDFC Bank, DBS Bank India, ICICI Bank, Indian Bank, Indian Overseas Bank, and State Bank of India (SBI) provide this functionality through their respective apps.
    A Only I Correct Answer Incorrect Answer
    B Only II Correct Answer Incorrect Answer
    C Only I & III Correct Answer Incorrect Answer
    D Only II & III Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    The National Payments Corporation of India (NPCI) has announced the launch of the UPI-PayNow linkage that will enable Indians to receive remittances directly into their bank accounts from Singapore and vice-versa.  Currently, users of mobile-based applications such as Bharat Interface for Money (BHIM), Phone Pe, and Paytm can access the service. Banks including Axis Bank, DBS Bank India, ICICI Bank, Indian Bank, Indian Overseas Bank, and State Bank of India (SBI) provide this functionality through their respective apps. Meanwhile, other third-party applications (TPAP) and bank applications such as Bank of Baroda, Bank of India, Canara Bank, Central Bank of India, Federal Bank, HDFC Bank, IDFC First Bank, IndusInd Bank, Karur Vysya Bank, Kotak Mahindra Bank, Punjab National Bank, South Indian Bank, and UCO Bank are expected to be added to the linkage soon.

    Practice Next

    Relevant for Exams: