Current Affairs · Banking and Economy
In the context of the Unified Payments Interface (UPI) network regulated by the National Payments Corporation of India (NPCI), which of the following statements accurately represents one of its key operational features?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It enables direct, real-time fund transfers between bank accounts linked to a single mobile application.✓
- 2UPI supports only peer-to-peer (P2P) transfers and prohibits merchant transactions.
- 3UPI transactions are strictly limited to closed-loop mobile wallets.
- 4UPI supports payments exclusively for government-to-citizen transactions.
Correct answer
It enables direct, real-time fund transfers between bank accounts linked to a single mobile application.
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