Current Affairs · Banking and Finance
Consider the following statements regarding the Centralised Payment System (CPS) and Pay Point India's recent membership: I. Pay Point India Network is the first private-sector fintech to gain membership in the Centralised Payment System (CPS) operated by the RBI. II. Direct access to CPS allows Pay Point India to process Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) transactions without relying on partner banks. III. In the CPS framework, RTGS is designed for processing smaller retail payments in batches, whereas NEFT handles large-value, real-time transactions. Which of the statements given above is/are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1All I, II, and III
- 2Only II and III
- 3Only I and II✓
- 4Only I
Correct answer
Only I and II
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