Question :
Which of the Following is true regarding UPI? (January 2023)
I - It is an advanced version of Immediate Payment Service (IMPS)- round - the - clock funds transfer service to make cashless payments faster, easier and smoother.
II - UPI is currently the biggest among the National Payments Corporation of India (NPCI) operated systems
III - Digital transactions through UPI recorded phenomenal growth during the pandemic year 2020 - 21 and several countries have evinced interest to learn from Indian experience so that they could replicate the model.
Study Notes
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