A
To regulate foreign institutional investments in domestic stock exchanges.
B
To facilitate instant real-time inter-bank peer-to-peer and person-to-merchant transactions.
C
To provide micro-credit to rural self-help groups without collateral.
D
To manage physical currency distribution across regional currency chests.
Correct answer: (b) To facilitate instant real-time inter-bank peer-to-peer and person-to-merchant transactions.
Explanation
Option B is correct because UPI is an instant real-time payment system developed by NPCI to facilitate inter-bank peer-to-peer and person-to-merchant transactions. Options A, C, and D describe completely different financial functions.
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