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Identify the correct statement about e-Rupee.
1. It is cashless and contactless payment system
2. It is as good as digital currency
3. It will not require any app or card for the payment
- a)2 and 3 only
- b)1 and 2 only
- c)3 only
- d)1 and 3 only
- e)All are correct
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Identify the correct statement about e-Rupee.1. It is cashless and co...
This platform is a cashless and contactless instrument that will be used for making digital payments. It is a QR code or SMS string-based e-voucher which will be delivered to the mobile of the users. The users will be able to redeem this voucher without any digital payment app, internet banking, or card. It is completely different from the concept of digital currency.
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Identify the correct statement about e-Rupee.1. It is cashless and co...
< b="" />Introduction:< />
The e-Rupee is a digital currency introduced by the Reserve Bank of India (RBI) as a cashless and contactless payment system. It aims to provide a secure, convenient, and efficient method of making transactions without the need for physical cash or cards.
< b="" />Statement 1: It is cashless and contactless payment system< />
This statement is correct. The e-Rupee is designed to be a cashless payment system, meaning that it enables transactions to be conducted electronically without the use of physical cash. It also operates as a contactless payment system, allowing payments to be made by simply tapping or scanning a device, such as a smartphone or a card, without the need for physical contact.
< b="" />Statement 2: It is as good as digital currency< />
This statement is incorrect. While the e-Rupee is a form of digital currency, it is important to note that it is not a cryptocurrency like Bitcoin or Ethereum. The e-Rupee is a digital representation of the Indian Rupee, issued and regulated by the RBI, and it operates within the boundaries and regulations of the central bank.
< b="" />Statement 3: It will not require any app or card for the payment< />
This statement is correct. The e-Rupee is designed to be a versatile payment system that can be used without the need for any specific app or card. It can be accessed through various channels, including mobile banking apps, payment gateway apps, and even feature phones using Unstructured Supplementary Service Data (USSD) codes. This makes it accessible to a wide range of users, regardless of their device or technology preferences.
< b="" />Conclusion:< />
In conclusion, the correct statements about e-Rupee are:
1. It is a cashless and contactless payment system.
3. It will not require any app or card for the payment.
The e-Rupee is a digital currency introduced by the Reserve Bank of India (RBI) as a cashless and contactless payment system. It aims to provide a secure, convenient, and efficient method of making transactions without the need for physical cash or cards.
< b="" />Statement 1: It is cashless and contactless payment system< />
This statement is correct. The e-Rupee is designed to be a cashless payment system, meaning that it enables transactions to be conducted electronically without the use of physical cash. It also operates as a contactless payment system, allowing payments to be made by simply tapping or scanning a device, such as a smartphone or a card, without the need for physical contact.
< b="" />Statement 2: It is as good as digital currency< />
This statement is incorrect. While the e-Rupee is a form of digital currency, it is important to note that it is not a cryptocurrency like Bitcoin or Ethereum. The e-Rupee is a digital representation of the Indian Rupee, issued and regulated by the RBI, and it operates within the boundaries and regulations of the central bank.
< b="" />Statement 3: It will not require any app or card for the payment< />
This statement is correct. The e-Rupee is designed to be a versatile payment system that can be used without the need for any specific app or card. It can be accessed through various channels, including mobile banking apps, payment gateway apps, and even feature phones using Unstructured Supplementary Service Data (USSD) codes. This makes it accessible to a wide range of users, regardless of their device or technology preferences.
< b="" />Conclusion:< />
In conclusion, the correct statements about e-Rupee are:
1. It is a cashless and contactless payment system.
3. It will not require any app or card for the payment.
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Identify the correct statement about e-Rupee.1. It is cashless and contactless payment system2. It is as good as digital currency3. It will not require any app or card for the paymenta)2 and 3 onlyb)1 and 2 onlyc)3 onlyd)1 and 3 onlye)All are correctCorrect answer is option 'D'. Can you explain this answer?
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Identify the correct statement about e-Rupee.1. It is cashless and contactless payment system2. It is as good as digital currency3. It will not require any app or card for the paymenta)2 and 3 onlyb)1 and 2 onlyc)3 onlyd)1 and 3 onlye)All are correctCorrect answer is option 'D'. Can you explain this answer? for Banking Exams 2025 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about Identify the correct statement about e-Rupee.1. It is cashless and contactless payment system2. It is as good as digital currency3. It will not require any app or card for the paymenta)2 and 3 onlyb)1 and 2 onlyc)3 onlyd)1 and 3 onlye)All are correctCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Banking Exams 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Identify the correct statement about e-Rupee.1. It is cashless and contactless payment system2. It is as good as digital currency3. It will not require any app or card for the paymenta)2 and 3 onlyb)1 and 2 onlyc)3 onlyd)1 and 3 onlye)All are correctCorrect answer is option 'D'. Can you explain this answer?.
Identify the correct statement about e-Rupee.1. It is cashless and contactless payment system2. It is as good as digital currency3. It will not require any app or card for the paymenta)2 and 3 onlyb)1 and 2 onlyc)3 onlyd)1 and 3 onlye)All are correctCorrect answer is option 'D'. Can you explain this answer? for Banking Exams 2025 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about Identify the correct statement about e-Rupee.1. It is cashless and contactless payment system2. It is as good as digital currency3. It will not require any app or card for the paymenta)2 and 3 onlyb)1 and 2 onlyc)3 onlyd)1 and 3 onlye)All are correctCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Banking Exams 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Identify the correct statement about e-Rupee.1. It is cashless and contactless payment system2. It is as good as digital currency3. It will not require any app or card for the paymenta)2 and 3 onlyb)1 and 2 onlyc)3 onlyd)1 and 3 onlye)All are correctCorrect answer is option 'D'. Can you explain this answer?.
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