A
1 only
B
2 only
C
Both 1 and 2
D
Neither 1 nor 2
Correct answer: (a) 1 only
Explanation
Statement 1 is correct since the zero-MDR policy has been applied to UPI and RuPay debit cards since 2020. Statement 2 is incorrect because digital payment policies and frameworks like MDR involve bodies such as the RBI, NPCI, and the Ministry of Finance, not the Ministry of Rural Development.
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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2018 · Q6 · General Studies · 2 marks
Which one of the following best describes the term "Merchant Discount Rate" sometimes seen in news? -
2021 · Q15 · GS II · 15 marks
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2018 · Q28 · General Studies · 2 marks
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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? -
2017 · Q43 · General Studies · 2 marks
Which of the following is a most likely consequence of implementing the 'Unified Payments Interface (UPI)'?