Digital Payment Systems — MCQ Practice
Interactive MCQ Practice
Test your knowledge. Click “Solve” to reveal options, select your answer, then check the result. 5 questions available.
Which of the following statements about the Unified Payments Interface (UPI) in India is/are correct? 1. UPI is regulated by the Reserve Bank of India (RBI). 2. UPI allows linking multiple bank accounts to a single mobile application. 3. UPI Lite enables offline transactions for small values. Select the correct answer using the code given below:
Consider the following statements regarding the Payment and Settlement Systems Act, 2007: 1. It empowers the Reserve Bank of India (RBI) to regulate and supervise payment systems. 2. It mandates that all payment system data relating to Indian users must be stored only in India. 3. It provides for the establishment of the National Payments Corporation of India (NPCI). Which of the statements given above is/are correct?
Which of the following digital payment systems is primarily designed for high-value transactions with real-time gross settlement?
With reference to E-RUPI, consider the following statements: 1. It is a cashless and contactless instrument for digital payments. 2. It requires the beneficiary to have a bank account to redeem the voucher. 3. It is developed by the Reserve Bank of India (RBI). Which of the statements given above is/are correct?
Which of the following are the key pillars of the RBI's Payment System Vision 2025? 1. Integrity 2. Inclusion 3. Innovation 4. Internationalization Select the correct answer using the code given below: