Question

Which of the following is a key objective of RuPay's launch?

• A. To promote international tourism
• B. To reduce reliance on physical cash
• C. To increase the use of foreign currency
• D. To facilitate cross-border trade

Answer 1

Answer:

B. To reduce reliance on physical cash

RuPay, an indigenous card payment network, was primarily launched to localize transaction processing, thereby lowering the fees banks pay to international card schemes, and to extend affordable card services to the vast, previously unserved Indian population, driving financial inclusion.