2023
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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March
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June
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February
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April
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Detailed explanation-1: -Transaction volumes declined 7.96 per cent month-on-month (m-o-m) in April 2023 to 796.29 crore against 865.16 crore in March 2023. Unified Payments Interface (UPI) transactions declined in volume as well as value terms in April 2023 after peaking in the previous month.
Detailed explanation-2: -3. What is the maximum limit of UPI transactions? Per the NPCI guidelines, the maximum amount of money that can be transferred in one UPI transaction is Rs. 1 lakh for P2P transfers and most merchant payments.
Detailed explanation-3: -All reasons for failed transactions can be divided into two large groups: those that can be influenced by a business and those that can’t. For instance, one can’t take any steps to cope with wrong card numbers, insufficient funds, or expired bank cards. But some other reasons can be influenced and even minimised.