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Online investment platform, FundsIndia.com, has partnered with which private sector lender, to launch Unified Payments Interface (UPI) on its Android app for mutual fund payments?
  • a)
    Canara Bank
  • b)
    IOB
  • c)
    Dena Bank
  • d)
    Union Bank of India
  • e)
    YES Bank
Correct answer is option 'E'. Can you explain this answer?
Verified Answer
Online investment platform, FundsIndia.com, has partnered with which p...
Online investment platform, FundsIndia.com, has partnered with private sector lender, YES BANK to launch Unified Payments Interface (UPI) on its Android app for mutual fund payments.On account of this tie-up, FundsIndia has become the first online mutual fund distributor to support UPI for client payments. UPI facilitates instant processing of payments and is currently the fastest way to complete mutual fund transactions as compared to National Electronic Funds Transfer (NEFT), Net Banking and other payment methods.To use this feature, a Virtual Payment Address (VPA) is required. FundsIndia users can create their own VPA on the FundsIndia Android app (backed by Yes Bank’s engine). Thereafter the user has to link the VPA with his/her bank account.FundsIndia’s UPI integration supports payments from 58 banks
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Online investment platform, FundsIndia.com, has partnered with which private sector lender, to launch Unified Payments Interface (UPI) on its Android app for mutual fund payments?a)Canara Bankb)IOBc)Dena Bankd)Union Bank of Indiae)YES BankCorrect answer is option 'E'. Can you explain this answer?
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