Current Affairs · UPI Credit Line Expansion Rules
Based on the regulatory directive expanding UPI functionality to include pre-sanctioned credit lines, which of the following statements correctly identify the eligible entities and operational parameters? 1. Scheduled Commercial Banks are authorized to enable this facility. 2. The operational directive is issued under Section 10(2) and Section 18 of the Payment and Settlement Systems Act, 2007. 3. Prior to this expansion, the UPI framework supported funding through savings accounts, overdraft accounts, prepaid wallets, and credit cards. 4. Customers can transact using pre-sanctioned credit lines from Small Finance Banks via UPI without the requirement of prior consent. Select the correct option:
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