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Digital Payments and UPI

1 UPSC Prelims MCQs tagged "Digital Payments and UPI". Free practice with answer keys, explanations, and timed mock tests on Anantam IAS.

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  1. Which of the following statements regarding digital payment systems in India are correct?

    Which of the following statements regarding digital payment systems in India are correct?

    1. AOnly 1 and 3
    2. BOnly 1 and 2
    3. COnly 2 and 3
    4. D1, 2 and 3
    Answer and explanation

    Correct answer: A

    UPI does enable real-time, round-the-clock fund transfer between bank accounts, so statement 1 is correct. QR codes let merchants accept payments without a card-swiping machine, making statement 3 correct. Statement 2 is wrong because digital payments still depend heavily on physical infrastructure like servers, smartphones, data centres and telecom networks.

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    Indian Economy UPSC GPSC-2026 Easy