BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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RuPay payment system is a major initiative in the banking sector in India. What is its contribution?
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It is an Indian payment system for debit cards
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It is a clearinghouse for payments
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It is meant for implementation of cheque truncation services
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It scrutinizes retail loan applications
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Explanation:
Detailed explanation-1: -Key features: Quick and Seamless Payment Experience on the Go. Easy In-app Controls & Spend Analysis for your KeyChain. Secure Transactions across widespread RuPay network.
Detailed explanation-2: -Introduced by National Payment Corporation of India (NPCI), Rupay Debit Card is an indigenous domestic debit card accepted at all ATMs (for cash withdrawal) and at most of the PoS machines–for making cashless payment for purchases–in the country.
Detailed explanation-3: -RuPay is the first-of-its-kind global Card payment network of India, with wide acceptance at ATMs, POS devices and e-commerce websites across India. It is a highly secure network that protects against anti-phishing.
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