Economics · Payment Systems in India
Consider the following statements regarding the payment infrastructure and financial entities in India: 1. The National Payments Corporation of India (NPCI) is an initiative promoted by the Reserve Bank of India and Indian Banks' Association to operate retail payment systems. 2. The Unified Payments Interface (UPI) recorded a transaction volume exceeding 14 billion per month during the financial year 2024-25. 3. Non-Banking Financial Companies (NBFCs) are fully integrated into the payment and settlement system and have the authority to issue cheques payable to third parties. Which of the statements given above is/are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 11, 2, and 3
- 22 and 3 only
- 31 and 2 only✓
- 41 and 3 only
Correct answer
1 and 2 only
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