Q79 · UPSC Prelims 2017 · Set A · Current Affairs and GK

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Consider the following statements:1.National Payment Corporation of India (NPCI) helps in promoting the financial inclusion in the country.2.NPCI has launched RuPay, a card payment scheme.Which of the statements given above is/are correct?

A 1 only
B 2 only
C Both 1 and 2
D Neither 1 nor 2

Correct answer: (c) Both 1 and 2

Explanation

  1. A

    1 only

    Option (a) is 1 only. NPCI does support digital payments that further financial inclusion, but statement 2 on RuPay is also correct. This option is incomplete. This option is not the key.

  2. B

    2 only

    Option (b) is 2 only. RuPay is NPCI’s card scheme, yet dropping the inclusion role is wrong because statement 1 is also true. This option is not the key.

  3. C

    Both 1 and 2

    NPCI is the retail-payments umbrella that runs UPI, IMPS, AePS and related rails, which widen access to digital finance. It also launched RuPay as a domestic card network. Both statements are correct, so (c) is the official key.

  4. D

    Neither 1 nor 2

    Option (d) is neither. Both statements stand. This option is therefore wrong.

Summary. Official key is (c) Both 1 and 2. NPCI is an RBI-promoted not-for-profit that operates India’s retail payment systems and thereby supports inclusion. RuPay is its domestic card scheme competing with international networks. Neither statement is false. Only (c) fits.