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    Question

    Consider the following statements in regards to the data released by the National Payments Corporation of India (NPCI):

    I) In august 2023, India has recorded 10 billion UPI transactions in volume for the first time in a month.

    II) In August 2023, the Immediate Payment Service (IMPS) transactions were seen at 473 million with a value of Rs 4.93 trillion.

    III) NCPI was formed with the guidance and support of the Reserve Bank of India (RBI) and Indian Banks Association.

    Which of the following statements is/are incorrect?

    A I only Correct Answer Incorrect Answer
    B II only Correct Answer Incorrect Answer
    C III only Correct Answer Incorrect Answer
    D I & II Correct Answer Incorrect Answer
    E None Correct Answer Incorrect Answer

    Solution

    According to the data released by the National Payments Corporation of India (NPCI), India has recorded 10 billion UPI transactions in volume for the first time in a month. In terms of value as well, UPI transactions are expected to reach a new high, having already reached Rs 15.18 trillion. In August 2023, the Immediate Payment Service (IMPS) transactions were seen at 473 million with a value of Rs 4.93 trillion.

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