Question

Identify the false statement regarding RuPay's objectives and features.

1. RuPay aims to increase the reliance on physical cash transactions in India.
2. The network is designed to ensure a high level of security for its users.
3. RuPay facilitates transactions through ATMs, POS terminals, and online platforms.
4. It represents India's own domestic card payment network.

• A. 1 മാത്രം
• B. 4
• C. ഇവയൊന്നുമല്ല
• D. 1, 4

Answer 1

Answer:

A. 1 മാത്രം

RuPay, meaning 'Rupee Payment', is India's indigenous card network developed by the National Payments Corporation of India (NPCI). Its primary goal, in line with the RBI's directives, is to foster a 'less cash' economy by encouraging digital transactions. This involves encouraging widespread adoption by Indian banks and financial institutions. RuPay offers a secure platform for transactions across various channels like ATMs, Point of Sale (POS) devices, and online shopping, making it a versatile tool for digital payments in India.