Q29.
Consider the following statements: 1. National Payment Corporation of India (NPCI) helps in promoting the financial inclusion in the country. 2. NPCI has launched RuPay, a card payment scheme. Which of the statements given above is/are correct?
Answer
C
Explanation
NPCI is an umbrella organization for all retail payments system in India. It was set up with the guidance and support of the Reserve Bank of India (RBI) and Indian Banks' Association (IBA). The core objective was to facilitate an affordable payment mechanism to benefit the common man and help financial inclusion. Thus statement 1 is correct. It offers many products and services including RuPay card, BHIM app, Unified Payment Interface among others. Thus statement 2 is correct.