A
1 only
B
2 only
C
Both 1 and 2
D
Neither 1 nor 2
Correct answer: (b) 2 only
Explanation
Statement 1 is incorrect because South Africa was not an original member; BRIC originally consisted of Brazil, Russia, India, and China before South Africa joined later, followed by other nations like Egypt, Ethiopia, Iran, UAE, and Saudi Arabia. Statement 2 is correct as the iBRICS Summit focuses on linking national fast-payment systems, sovereign wealth deployment, and CBDC interoperability.
Same topic · past papers
UPSC has asked this before
These previous-year questions sit on the same topic. Open one to practise the earlier ask.
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2026 · Q1 · GS III · 10 marks
What do you mean by Digital Rupee? In this context, explain the working and progress of India's Central Bank Digital Currency (CBDC). -
2025 · Q97 · General Studies · 2 marks
Consider the following statements with regard to BRICS; I. 16th BRICS Summit was held under the Chairship of Russia in Kazan. II. Indonesia has become a full member of BRICS. III. The theme of the 16th BRICS Summit was Strengthening Multiculturalism for Just Global Development and Security. Which of the statements given above is/are correct? -
2026 · Q90 · General Studies · 2 marks
Which one of the following statements about Unified Payments Interface (UPI) and Central Bank Digital Currency (Digital Rupee) is NOT correct? -
2023 · Q72 · General Studies · 2 marks
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2025 · Q7 · GS II · 10 marks
e-governance projects have a built-in bias towards technology and back-end integration than user-centric designs. Examine.