NPCI is an umbrella organisation for all retail payment systems in India, set up by the Reserve Bank of India (RBI) and the Indian Banks' Association (IBA). NFS enables customers of banks in India to access their accounts from any ATM connected to the network.
Which out of the following is the largest network of shared ATMs in India, run by the National Payments Corporation of India?
Asked in PPSC CS Prelims 2021 · Topic: Money & Banking (Payment Systems in India: Digital Payments, UPI, and Central Bank Digital Currency (CBDC))
More Economic Development questions
- Which of the following statements is incorrect with respect to TReDS?
- Some suggest that India needs to move to an escrow-based payment mechanism to ensure a fearless business environment in the country. Which of the following correctly describes an escrow account ?
- What are the Forms of Central Bank Digital Currency (CBDC) proposed to be introduced by RBI? 1. Account-based 2. Token based
- Which of the following is a most likely consequence of implementing the 'Unified Payments Interface (UPI)' ?
- Which one of the following links all the ATMs in India ?
- Consider the following statements: The Reserve Bank of India's recent directives relating to 'Storage of Payment System Data', popularly known as data diktat, command the payment system providers that 1. they shall ensure that entire data relating to payment systems operated by them are stored in a system only in India 2. they shall ensure that the systems are owned and operated by public sector enterprises 3. they shall submit the consolidated system audit report to the Comptroller and Auditor General of India by the end of the calendar year Which of the statements given above is/are correct?
- With reference to Central Bank digital currencies, consider the following statements : 1. It is possible to make payments in a digital currency without using US dollar or SWIFT system. 2. A digital currency can be distributed with condition programmed into it such as a time-frame for spending it. Which of the statements given above is/are correct?
- Consider the following statements in respect of the digital rupee : 1. It is a sovereign currency issued by the Reserve Bank of India (RBI) in alignment with its monetary policy. 2. It appears as a liability on the RBI's balance sheet. 3. It is insured against inflation by its very design. 4. It is freely convertible against commercial bank money and cash. Which of the statements given above are correct ?