Economics · Banking and Finance
Consider the following statements regarding the Unified Payments Interface (UPI): Statement I: The Unified Payments Interface (UPI) was developed and launched by the National Payments Corporation of India (NPCI) in 2016, enabling instant real-time digital payments through mobile devices. Statement II: NPCI is a statutory body established under an Act of Parliament to regulate India's digital payment ecosystem. Which one of the following is correct in respect of the above statements?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Statement I is incorrect, but Statement II is correct.
- 2Statement I is correct, but Statement II is incorrect.✓
- 3Both Statement I and Statement II are correct, but Statement II is not the correct explanation for Statement I.
- 4Both Statement I and Statement II are correct, and Statement II is the correct explanation for Statement I.
Correct answer
Statement I is correct, but Statement II is incorrect.
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