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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?
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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.
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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.
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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?
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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?.
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