CURRENT AFFAIRS

Detailed explanation-1: -ToneTag has partnered with NSDL Payments Bank and NPCI to launch its “VoiceSe UPI payments service” for feature phone users.

Detailed explanation-2: -Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing & merchant payments into one hood.

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.