Current Affairs · RBI Policy & Payment System Initiatives
Consider the following statements regarding the RBI's Payments Vision 2028: I. It proposes a Payments Switching Service (PaSS) to facilitate seamless migration of payment instructions during bank switching or mergers. II. It proposes discontinuation of all cheque-based payment instruments in favour of fully digital-only transactions. Which of the statements given above is/are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1I only✓
- 2II only
- 3Both I and II
- 4Neither I nor II
Correct answer
I only
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