63) Which among the following statement is not correct?
i) NPCI (National Payments Corporation of India) is a statutory body under the Ministry of Finance
ii) NPCI has created the unified payments interface, which helps in bringing about inter-operability of digital transactions
63) Which among the following statement is not correct?
i) NPCI (National Payments Corporation of India) is a statutory body under the Ministry of Finance
ii) NPCI has created the unified payments interface, which helps in bringing about inter-operability of digital transactions
The correct option is A a) Only i
63 Ans A
Explanation: National Payments Corporation of India (NPCI) is an umbrella organization for all retail payments system in India. It was set up with the guidance and support of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA). Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing & merchant payments into one hood. It also caters to the “Peer to Peer” collect request which can be scheduled and paid as per requirement and convenience.
a) Only i
63 Ans A
Explanation: National Payments Corporation of India (NPCI) is an umbrella organization for all retail payments system in India. It was set up with the guidance and support of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA). Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing & merchant payments into one hood. It also caters to the “Peer to Peer” collect request which can be scheduled and paid as per requirement and convenience.
