UPSC Exam  >  UPSC Questions  >  With reference to the cardless cash withdrawa... Start Learning for Free
With reference to the cardless cash withdrawal facility, consider the following statements:
1. The Reserve Bank of India (RBI) has proposed to make card-less cash withdrawal facility available across all banks and ATM networks using the Unified Payments Interface (UPI).
2. The cardless withdrawal request can be initiated for a minimum of ₹100 per transaction and up to a maximum of ₹10,000 per day or ₹25,000 per month for a beneficiary.
Which of the statements given above is/are correct?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
With reference to the cardless cash withdrawal facility, consider the ...
While announcing the monetary policy, the Reserve Bank of India (RBI) Governor Shaktikanta Das said RBI has proposed to make card-less cash withdrawal facility available across all banks and ATM networks using the Unified Payments Interface (UPI).
  • RBI Governor said the absence of need for a card to initiate cash withdrawal transactions would help in containing frauds like card skimming, card cloning, etc.
  • However, Governor Shaktikanta Das clarified credit & debit cards will be continued.
  • Under the cardless cash withdrawal facility, individuals can withdraw cash without using any debit card at Automated teller machines (ATMs).
  • The cardless withdrawal request can be initiated for a minimum of ₹100 per transaction and up to a maximum of ₹10,000 per day or ₹25,000 per month for a beneficiary while the limits are subject to change as per regulatory guidelines.
Hence both statements are correct.
Explore Courses for UPSC exam

Similar UPSC Doubts

Top Courses for UPSC

With reference to the cardless cash withdrawal facility, consider the following statements:1. The Reserve Bank of India (RBI) has proposed to make card-less cash withdrawal facility available across all banks and ATM networks using the Unified Payments Interface (UPI).2. The cardless withdrawal request can be initiated for a minimum of 100 per transaction and up to a maximum of 10,000 per day or 25,000 per month for a beneficiary.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
Question Description
With reference to the cardless cash withdrawal facility, consider the following statements:1. The Reserve Bank of India (RBI) has proposed to make card-less cash withdrawal facility available across all banks and ATM networks using the Unified Payments Interface (UPI).2. The cardless withdrawal request can be initiated for a minimum of 100 per transaction and up to a maximum of 10,000 per day or 25,000 per month for a beneficiary.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about With reference to the cardless cash withdrawal facility, consider the following statements:1. The Reserve Bank of India (RBI) has proposed to make card-less cash withdrawal facility available across all banks and ATM networks using the Unified Payments Interface (UPI).2. The cardless withdrawal request can be initiated for a minimum of 100 per transaction and up to a maximum of 10,000 per day or 25,000 per month for a beneficiary.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the cardless cash withdrawal facility, consider the following statements:1. The Reserve Bank of India (RBI) has proposed to make card-less cash withdrawal facility available across all banks and ATM networks using the Unified Payments Interface (UPI).2. The cardless withdrawal request can be initiated for a minimum of 100 per transaction and up to a maximum of 10,000 per day or 25,000 per month for a beneficiary.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
Solutions for With reference to the cardless cash withdrawal facility, consider the following statements:1. The Reserve Bank of India (RBI) has proposed to make card-less cash withdrawal facility available across all banks and ATM networks using the Unified Payments Interface (UPI).2. The cardless withdrawal request can be initiated for a minimum of 100 per transaction and up to a maximum of 10,000 per day or 25,000 per month for a beneficiary.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
Here you can find the meaning of With reference to the cardless cash withdrawal facility, consider the following statements:1. The Reserve Bank of India (RBI) has proposed to make card-less cash withdrawal facility available across all banks and ATM networks using the Unified Payments Interface (UPI).2. The cardless withdrawal request can be initiated for a minimum of 100 per transaction and up to a maximum of 10,000 per day or 25,000 per month for a beneficiary.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of With reference to the cardless cash withdrawal facility, consider the following statements:1. The Reserve Bank of India (RBI) has proposed to make card-less cash withdrawal facility available across all banks and ATM networks using the Unified Payments Interface (UPI).2. The cardless withdrawal request can be initiated for a minimum of 100 per transaction and up to a maximum of 10,000 per day or 25,000 per month for a beneficiary.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?, a detailed solution for With reference to the cardless cash withdrawal facility, consider the following statements:1. The Reserve Bank of India (RBI) has proposed to make card-less cash withdrawal facility available across all banks and ATM networks using the Unified Payments Interface (UPI).2. The cardless withdrawal request can be initiated for a minimum of 100 per transaction and up to a maximum of 10,000 per day or 25,000 per month for a beneficiary.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of With reference to the cardless cash withdrawal facility, consider the following statements:1. The Reserve Bank of India (RBI) has proposed to make card-less cash withdrawal facility available across all banks and ATM networks using the Unified Payments Interface (UPI).2. The cardless withdrawal request can be initiated for a minimum of 100 per transaction and up to a maximum of 10,000 per day or 25,000 per month for a beneficiary.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice With reference to the cardless cash withdrawal facility, consider the following statements:1. The Reserve Bank of India (RBI) has proposed to make card-less cash withdrawal facility available across all banks and ATM networks using the Unified Payments Interface (UPI).2. The cardless withdrawal request can be initiated for a minimum of 100 per transaction and up to a maximum of 10,000 per day or 25,000 per month for a beneficiary.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice UPSC tests.
Explore Courses for UPSC exam

Top Courses for UPSC

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev