2022
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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3 Years
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2 Years
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5 Years
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10 Years
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Detailed explanation-1: -The operator of digital payments infrastructure, National Payments Corporation of India (NPCI) has extended the deadline for existing third-party apps to comply with its market share guidelines on the Unified Payments Interface (UPI) network by two years.
Detailed explanation-2: -"Taking into account the present usage and future potential of UPI, and other relevant factors, the timelines for compliance of existing TPAPs who are exceeding the volume cap, is extended by two (2) years i.e. till December 31, 2024 to comply with the volume cap,” said NPCI in its circular.
Detailed explanation-3: -In a relief to UPI payments market leaders, PhonePe and Google Pay, the National Payments Corporation of India (NPCI) has extended the deadline for Unified Payments Interface (UPI) to meet the market cap deadline of 30% to December 31, 2024. The earlier deadline to meet the market cap norms was December 31, 2022.
Detailed explanation-4: -According to NPCI guidelines, a person can make a maximum payment of up to Rs 1 Lakh per day through UPI.
Detailed explanation-5: -The maximum payment a person can make through UPI is Rs 1 lakh per day as per the guidelines issued by the NPCI.