Current Affairs · International Settlements
The RBI and the European Central Bank advanced the UPI-TIPS (TARGET Instant Payment Settlement) link project into its execution phase. What is the direct operational implication of this linkage?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It allows only P2P payments but completely restricts merchant payments.
- 2It replaces SWIFT for all Euro-INR bilateral trade settlements.
- 3It enables real-time cross-border retail payments using the domestic fast payment system rails of both sides.✓
- 4Only Indian tourists in Europe can use UPI; Europeans cannot use TIPS in India.
Correct answer
It enables real-time cross-border retail payments using the domestic fast payment system rails of both sides.
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