Which of the following is a most likely consequence of implementing the Unified Payments Interface (UPI)?

[UPSC Civil Services Exam – 2017 Prelims]

(a) Mobile wallets will not be necessary for online payments.

(b) Digital currency will totally replace the physical currency in about two decades.

(c) FDI inflows will drastically increase.

(d) Direct transfer of subsidies to poor people will become very effective.


Answer: (a)        

Explanation:

The most likely consequence of implementing the ‘Unified Payments Interface (UPI)’ is Mobile wallets will not be necessary for online payments.

  • UPI allows you to pay directly from your bank account to different merchants without the hassle of typing your card details, or net banking/wallet password.
  • UPI is a payment system that allows money transfers between any two bank accounts by using a smartphone.
  • Unified Payments Interface (UPI) is an instant real-time payment system developed by NPCI to facilitate inter-bank transactions through mobile phones.

Consider the following statements:                                                                   The Parliament of India can place a particular law in the Ninth Schedule of the Constitution of India. The validity of a law placed in the Ninth Schedule cannot be examined by any court and no judgement can be made on it. Which of the statements given above is/are correct?

Consider the following statements:                                               

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Consider the following statements:                                                         The Parliament of India can place a particular law in the Ninth Schedule of the Constitution of India. The validity of a law placed in the Ninth Schedule cannot be examined by any court and no judgement can be made on it. Which of the statements given above is/are correct?

Consider the following statements:                                               

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