CURRENT AFFAIRS

2021

Please wait while the activity loads.
If this activity does not load, try refreshing your browser. Also, this page requires javascript. Please visit using a browser with javascript enabled.

If loading fails, click here to try again

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

PhonePe has partnered with which of the following banks on the UPI multi-bank model?

A	ICICI Bank
B	RBL Bank
C	HDFC Bank
D	Axis Bank

Explanation:

Detailed explanation-1: -PhonePe Partnered with Axis Bank on UPI Multi-Bank.

Detailed explanation-2: -When you activate multiple UPI IDs, PhonePe can route your payment through an alternate handle in case the PSP bank associated with one handle is facing network issues. This way, PhonePe can ensure that your payment goes through quickly without failure.

Detailed explanation-3: -Mobile apps Apart from various third-party apps such as Google Pay (previously Tez), Airtel Payments Bank, PhonePe, Paytm, MobiKwik, Amazon Pay, Samsung Pay, WhatsApp Pay, NPCI manages its own app, BHIM. The total number of banks linked to UPI platform grew from 21 in April 2016 to 304 in February 2022.

Detailed explanation-4: -PhonePe’s founder Sameer Nigam was appointed as the CEO of the company. In August 2016, the company partnered with Yes Bank to launch a UPI-based mobile payment app, based on the government-backed UPI platform. Within three months of launch, the app was downloaded by over one crore users.

There is 1 question to complete.