2023
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
Which organization has issued a circular suggesting “Prepaid Payment Instruments (PPI)” charges on merchant transactions on the Unified Payments Interface (UPI)?
|
|
NPCI
|
|
|
RBI
|
|
|
SEBI
|
|
|
IRDA
|
Explanation:
Detailed explanation-1: -The National Payments Corporation of India (NPCI) has advised Prepaid Payment Instruments (PPI) fees be applied to merchant transactions on Unified Payments Interface (UPI) beginning on April 1.
Detailed explanation-2: -Starting April 1, merchant transactions exceeding ₹2, 000 in value done using Prepaid Payment Instruments (PPI Wallets) on UPI will attract an interchange charge of 1.1%.
Detailed explanation-3: -NPCI has issued a circular saying that there will be an interchange fee of 1.1 per cent on UPI transactions made through PPI instruments like wallets or cards.
There is 1 question to complete.