UPSC Exam > UPSC Questions > Consider the following statements regarding N...
Start Learning for Free
Consider the following statements regarding National Payments Corporation of India:
- It is an initiative of the Reserve Bank of India (RBI) and the Indian Banks’ Association.
- It is formed under the provisions of the Payment and Settlement Systems Act, 2007.
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?
| FREE This question is part of | Download PDF Attempt this Test |
Most Upvoted Answer
Consider the following statements regarding National Payments Corporat...
Recently, the National Payments Corporation of India (NPCI) unveiled several new products with an aim to create an inclusive, resilient, and sustainable digital payments ecosystem.
- It is an umbrella organisation for operating retail payments and settlement systems in India.
- It is an initiative of the Reserve Bank of India (RBI) and the Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, to create a robust Payment & Settlement Infrastructure in India.
- It has been incorporated as a “Not for Profit” Company under the provisions of Section 25 of the Companies Act 1956 (now Section 8 of the Companies Act 2013).
- It is promoted by ten major banks, including the State Bank of India, Punjab National Bank, Citibank, Bank of Baroda, and HSBC.
- The regulatory board of the NPCI, headquartered in Mumbai, includes nominees from the RBI along with nominees from ten core promoter banks.
Hence both statements are correct.
Free Test
FREE
| Start Free Test |
Community Answer
Consider the following statements regarding National Payments Corporat...
Association (IBA).
- It was established in 2008.
- It is responsible for operating retail payment systems in India.
- It aims to promote digital transactions and financial inclusion in the country.
- It operates the Unified Payments Interface (UPI) platform.
- It is a not-for-profit organization.
All of the above statements are true.
- It was established in 2008.
- It is responsible for operating retail payment systems in India.
- It aims to promote digital transactions and financial inclusion in the country.
- It operates the Unified Payments Interface (UPI) platform.
- It is a not-for-profit organization.
All of the above statements are true.
Attention UPSC Students!
To make sure you are not studying endlessly, EduRev has designed UPSC study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in UPSC.
|
Explore Courses for UPSC exam
|
|
Similar UPSC Doubts
Top Courses for UPSCView all
Consider the following statements regarding National Payments Corporation of India: It is aninitiative ofthe Reserve Bank of India (RBI) and the Indian Banks’ Association. It is formed under the provisions of thePayment and Settlement Systems Act, 2007.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
Consider the following statements regarding National Payments Corporation of India: It is aninitiative ofthe Reserve Bank of India (RBI) and the Indian Banks’ Association. It is formed under the provisions of thePayment and Settlement Systems Act, 2007.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 Consider the following statements regarding National Payments Corporation of India: It is aninitiative ofthe Reserve Bank of India (RBI) and the Indian Banks’ Association. It is formed under the provisions of thePayment and Settlement Systems Act, 2007.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 Consider the following statements regarding National Payments Corporation of India: It is aninitiative ofthe Reserve Bank of India (RBI) and the Indian Banks’ Association. It is formed under the provisions of thePayment and Settlement Systems Act, 2007.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?.
Consider the following statements regarding National Payments Corporation of India: It is aninitiative ofthe Reserve Bank of India (RBI) and the Indian Banks’ Association. It is formed under the provisions of thePayment and Settlement Systems Act, 2007.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 Consider the following statements regarding National Payments Corporation of India: It is aninitiative ofthe Reserve Bank of India (RBI) and the Indian Banks’ Association. It is formed under the provisions of thePayment and Settlement Systems Act, 2007.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 Consider the following statements regarding National Payments Corporation of India: It is aninitiative ofthe Reserve Bank of India (RBI) and the Indian Banks’ Association. It is formed under the provisions of thePayment and Settlement Systems Act, 2007.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 Consider the following statements regarding National Payments Corporation of India: It is aninitiative ofthe Reserve Bank of India (RBI) and the Indian Banks’ Association. It is formed under the provisions of thePayment and Settlement Systems Act, 2007.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 Consider the following statements regarding National Payments Corporation of India: It is aninitiative ofthe Reserve Bank of India (RBI) and the Indian Banks’ Association. It is formed under the provisions of thePayment and Settlement Systems Act, 2007.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
Consider the following statements regarding National Payments Corporation of India: It is aninitiative ofthe Reserve Bank of India (RBI) and the Indian Banks’ Association. It is formed under the provisions of thePayment and Settlement Systems Act, 2007.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 Consider the following statements regarding National Payments Corporation of India: It is aninitiative ofthe Reserve Bank of India (RBI) and the Indian Banks’ Association. It is formed under the provisions of thePayment and Settlement Systems Act, 2007.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 Consider the following statements regarding National Payments Corporation of India: It is aninitiative ofthe Reserve Bank of India (RBI) and the Indian Banks’ Association. It is formed under the provisions of thePayment and Settlement Systems Act, 2007.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 Consider the following statements regarding National Payments Corporation of India: It is aninitiative ofthe Reserve Bank of India (RBI) and the Indian Banks’ Association. It is formed under the provisions of thePayment and Settlement Systems Act, 2007.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
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup