GS PrelimsEconomyDigital Payments2017 Consider the following statements:
1. National Payments 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?
Correct Answer: Option C
Explanation
1. Statement 1 is correct. The National Payments Corporation of India (NPCI) is an umbrella organization for operating retail payments and settlement systems in India. By creating platforms like IMPS, UPI, AePS, and RuPay, NPCI has significantly contributed to expanding the reach and accessibility of digital financial services, thereby promoting financial inclusion in the country.
2. Statement 2 is correct. NPCI has launched RuPay, which is India's domestic card payment scheme. RuPay cards are widely issued by banks in India and compete with international card schemes like Visa and Mastercard.
3. Therefore, both statements are correct.
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