Bharat QR Code, the latest initiative to boost digital transactions, will make use of QR codes system for payments across merchant outlets. Bharat QR was launched with much fanfare by

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	NPCI
B	FICCI
C	RBI
D	SEBI

Explanation:

Detailed explanation-1: -As a merchant, you just need the BHIM-UPI app for generating a unique BharatQR code. You can print and paste the code on your payment counter. Customers just have to UPI QR code to send money directly to your account.

Detailed explanation-2: -Bharat QR works as an alternate channel of payment, where cardholder has to download his/her bank’s Bharat QR enabled mobile banking app. User has to scan the Bharat QR code at Merchant store and select card to make payment.

Detailed explanation-3: -Bharat QR was launched as an interoperable, integrated payment system by NPCI and was then adopted by Mastercard and VISA in September 2016. A user would have to scan the Bharat QR code at a Merchant store and select a card to make the payment. On successful transaction, both the cardholder and merchant are notified.

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