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Consider the following statements:
Statement I: The RBI faces challenges related to cybersecurity threats in the context of digital payment systems.
Statement II: The internationalization of the Indian Rupee may lead to increased demand for the currency in global markets, potentially impacting Indian exports.
Which one of the following is correct in respect of the above statements?
- a)Both Statement I and Statement II are correct and Statement II explains Statement I.
- b)Both Statement I and Statement II are correct, but Statement II does not explain Statement I.
- c)Statement I is correct, but Statement II is incorrect.
- d)Statement I is incorrect, but Statement II is correct.
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
Consider the following statements:Statement I: The RBI faces challeng...
Statement I: The RBI does indeed face cybersecurity threats concerning digital payment systems, as highlighted in the provided text. This statement is correct.
Statement II: The statement accurately points out that the internationalization of the Indian Rupee could potentially lead to increased demand for the currency, which might impact Indian exports. This statement is also correct.
Therefore, the correct answer is:
Option A: Both Statement I and Statement II are correct and Statement II explains Statement I.
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Community Answer
Consider the following statements:Statement I: The RBI faces challeng...
Analysis of Statements
Both statements address different aspects of the Indian economy and the role of the Reserve Bank of India (RBI) in managing monetary and financial challenges.
Statement I: Cybersecurity Threats
- The RBI does face significant challenges related to cybersecurity, particularly as digital payment systems gain popularity.
- Increased digital transactions have made the financial system more vulnerable to cyberattacks.
- Ensuring the security of these systems is critical for maintaining public trust and safeguarding financial data.
Statement II: Internationalization of the Indian Rupee
- The internationalization of the Indian Rupee refers to efforts to promote its use in global transactions.
- This could lead to greater demand for the currency in international markets.
- An increase in demand for the Rupee can potentially enhance the competitiveness of Indian exports, as it could stabilize exchange rates and make exports more attractive.
Conclusion
- Both statements are correct.
- However, Statement II does not explain Statement I, as they pertain to different issues: cybersecurity threats are specific to the operational integrity of payment systems, while internationalization relates to currency demand and trade implications.
Therefore, the correct answer is option 'B': Both Statement I and Statement II are correct, but Statement II does not explain Statement I.
Both statements address different aspects of the Indian economy and the role of the Reserve Bank of India (RBI) in managing monetary and financial challenges.
Statement I: Cybersecurity Threats
- The RBI does face significant challenges related to cybersecurity, particularly as digital payment systems gain popularity.
- Increased digital transactions have made the financial system more vulnerable to cyberattacks.
- Ensuring the security of these systems is critical for maintaining public trust and safeguarding financial data.
Statement II: Internationalization of the Indian Rupee
- The internationalization of the Indian Rupee refers to efforts to promote its use in global transactions.
- This could lead to greater demand for the currency in international markets.
- An increase in demand for the Rupee can potentially enhance the competitiveness of Indian exports, as it could stabilize exchange rates and make exports more attractive.
Conclusion
- Both statements are correct.
- However, Statement II does not explain Statement I, as they pertain to different issues: cybersecurity threats are specific to the operational integrity of payment systems, while internationalization relates to currency demand and trade implications.
Therefore, the correct answer is option 'B': Both Statement I and Statement II are correct, but Statement II does not explain Statement I.
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Consider the following statements:Statement I: The RBI faces challenges related to cybersecurity threats in the context of digital payment systems.Statement II: The internationalization of the Indian Rupee may lead to increased demand for the currency in global markets, potentially impacting Indian exports.Which one of the following is correct in respect of the above statements?a)Both Statement I and Statement II are correct and Statement II explains Statement I.b)Both Statement I and Statement II are correct, but Statement II does not explain Statement I.c)Statement I is correct, but Statement II is incorrect.d)Statement I is incorrect, but Statement II is correct.Correct answer is option 'B'. Can you explain this answer?
Question Description
Consider the following statements:Statement I: The RBI faces challenges related to cybersecurity threats in the context of digital payment systems.Statement II: The internationalization of the Indian Rupee may lead to increased demand for the currency in global markets, potentially impacting Indian exports.Which one of the following is correct in respect of the above statements?a)Both Statement I and Statement II are correct and Statement II explains Statement I.b)Both Statement I and Statement II are correct, but Statement II does not explain Statement I.c)Statement I is correct, but Statement II is incorrect.d)Statement I is incorrect, but Statement II is correct.Correct answer is option 'B'. 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:Statement I: The RBI faces challenges related to cybersecurity threats in the context of digital payment systems.Statement II: The internationalization of the Indian Rupee may lead to increased demand for the currency in global markets, potentially impacting Indian exports.Which one of the following is correct in respect of the above statements?a)Both Statement I and Statement II are correct and Statement II explains Statement I.b)Both Statement I and Statement II are correct, but Statement II does not explain Statement I.c)Statement I is correct, but Statement II is incorrect.d)Statement I is incorrect, but Statement II is correct.Correct answer is option 'B'. 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:Statement I: The RBI faces challenges related to cybersecurity threats in the context of digital payment systems.Statement II: The internationalization of the Indian Rupee may lead to increased demand for the currency in global markets, potentially impacting Indian exports.Which one of the following is correct in respect of the above statements?a)Both Statement I and Statement II are correct and Statement II explains Statement I.b)Both Statement I and Statement II are correct, but Statement II does not explain Statement I.c)Statement I is correct, but Statement II is incorrect.d)Statement I is incorrect, but Statement II is correct.Correct answer is option 'B'. Can you explain this answer?.
Consider the following statements:Statement I: The RBI faces challenges related to cybersecurity threats in the context of digital payment systems.Statement II: The internationalization of the Indian Rupee may lead to increased demand for the currency in global markets, potentially impacting Indian exports.Which one of the following is correct in respect of the above statements?a)Both Statement I and Statement II are correct and Statement II explains Statement I.b)Both Statement I and Statement II are correct, but Statement II does not explain Statement I.c)Statement I is correct, but Statement II is incorrect.d)Statement I is incorrect, but Statement II is correct.Correct answer is option 'B'. 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:Statement I: The RBI faces challenges related to cybersecurity threats in the context of digital payment systems.Statement II: The internationalization of the Indian Rupee may lead to increased demand for the currency in global markets, potentially impacting Indian exports.Which one of the following is correct in respect of the above statements?a)Both Statement I and Statement II are correct and Statement II explains Statement I.b)Both Statement I and Statement II are correct, but Statement II does not explain Statement I.c)Statement I is correct, but Statement II is incorrect.d)Statement I is incorrect, but Statement II is correct.Correct answer is option 'B'. 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:Statement I: The RBI faces challenges related to cybersecurity threats in the context of digital payment systems.Statement II: The internationalization of the Indian Rupee may lead to increased demand for the currency in global markets, potentially impacting Indian exports.Which one of the following is correct in respect of the above statements?a)Both Statement I and Statement II are correct and Statement II explains Statement I.b)Both Statement I and Statement II are correct, but Statement II does not explain Statement I.c)Statement I is correct, but Statement II is incorrect.d)Statement I is incorrect, but Statement II is correct.Correct answer is option 'B'. Can you explain this answer?.
Solutions for Consider the following statements:Statement I: The RBI faces challenges related to cybersecurity threats in the context of digital payment systems.Statement II: The internationalization of the Indian Rupee may lead to increased demand for the currency in global markets, potentially impacting Indian exports.Which one of the following is correct in respect of the above statements?a)Both Statement I and Statement II are correct and Statement II explains Statement I.b)Both Statement I and Statement II are correct, but Statement II does not explain Statement I.c)Statement I is correct, but Statement II is incorrect.d)Statement I is incorrect, but Statement II is correct.Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
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ample number of questions to practice Consider the following statements:Statement I: The RBI faces challenges related to cybersecurity threats in the context of digital payment systems.Statement II: The internationalization of the Indian Rupee may lead to increased demand for the currency in global markets, potentially impacting Indian exports.Which one of the following is correct in respect of the above statements?a)Both Statement I and Statement II are correct and Statement II explains Statement I.b)Both Statement I and Statement II are correct, but Statement II does not explain Statement I.c)Statement I is correct, but Statement II is incorrect.d)Statement I is incorrect, but Statement II is correct.Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice UPSC tests.
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