Multi-Purpose Cooperative Societies in Rajasthan

Unified Payments Interface (UPI) is expanding internationally, but only a few countries currently support international merchant payments under UPI. ✅ I. United Arab Emirates – Correct
* UPI is accepted at select merchants in the UAE via NPCI partnerships. ✅ II. France – Correct
* France allows UPI merchant payments at select tourist locations, like the Eiffel Tower. ❌ III. Germany – Incorrect
* No official rollout of UPI for merchant payments in Germany as of now. ✅ IV. Singapore – Correct
* UPI is live for both P2P remittances and merchant payments in Singapore. ❌ V. Bangladesh – Incorrect
* UPI is not yet operational for merchant payments in Bangladesh. International merchant payments are accepted under UPI in seven countries outside of India: Bhutan, France, Mauritius, Nepal, Singapore, Sri Lanka, and the UAE.

A core banking solution is a centralized system that integrates various banking functions across a bank's branches. It allows for:
- Networked branches: Customers can access their accounts and conduct transactions from any branch within the bank's network, regardless of where they originally opened their account.
- Improved efficiency: CBS automates many manual processes, leading to faster transactions and better customer service.
- Centralized data management: All customer information and account data are stored in a central location, facilitating easier access and record keeping. Therefore, the correct answer is 1 only.

Statement 1 is Correct: The National Payments Corporation of India (NPCI) was established to facilitate retail payments and promote financial inclusion in India. They achieve this by
1. Developing and deploying innovative payment infrastructure like RuPay cards, UPI, etc.
2. Enabling participation of a wider range of players in the payments system, including non-bank entities.
3. Setting standards and guidelines to ensure secure and efficient electronic payments. Statement 2 is Correct: RuPay is a domestic debit and credit card payment network launched by NPCI in India. It provides an alternative to international card networks like Visa and Mastercard. This domestic network can potentially lower transaction costs for merchants and banks compared to international schemes. Therefore, both statement 1 and statement 2 are correct.
Hence, option C is the correct answer.

Statement (a) is correct: UPI enables direct bank-to-bank transfers through mobile apps, removing the need for intermediate mobile wallets. Statement (b) is incorrect: UPI promotes digital transactions, but it will not completely replace physical currency in the near future. Statement (c) is incorrect: UPI deals with domestic payment systems and has no direct impact on FDI inflows. Statement (d) is incorrect: Direct Benefit Transfer (DBT) uses Aadhaar-linked bank accounts, not UPI, as the main mechanism for subsidy distribution.

Statement 1 is Correct: Real-World Asset (RWA) Tokenization is the process of converting the ownership rights of physical or traditional financial assets (such as real estate, gold, commodities, or bonds) into digital tokens on a distributed ledger or blockchain. Each token represents a proportional share or claim on the underlying asset. Statement 2 is Correct: Unlike traditional financial markets and real estate registries that have fixed operating hours, geographic limitations, and settlement delays, blockchain-based tokenized assets can be traded globally, 24 hours a day, 7 days a week, with near-instant settlement. Additionally, tokenization allows high-value, traditionally illiquid assets to be divided into smaller, affordable fractions. This lowers the barrier to entry, enabling retail investors and underserved populations to participate in wealth-building markets, thereby directly promoting financial inclusion. Statement 3 is Correct: In the Indian context, RWA tokenization democratizes access to high-growth, capital-intensive sectors (like commercial real estate, agricultural land, and infrastructure projects). Regulatory bodies like the IFSCA (in GIFT City) have already begun approving tokenization platforms under regulatory sandboxes to unlock these previously inaccessible investment opportunities for everyday Indian retail investors. Therefore, all three statements are correct, making the correct option A.

The National Payments Corporation of India (NPCI) The NPCI operates the National Financial Switch (NFS), which is the largest network connecting ATMs across various banks in India. This network facilitates inter-bank transactions and allows users to withdraw cash from ATMs even if they don't belong to the bank that owns the ATM.

Statement 1 is correct: Bharat Interface for Money (BHIM) is a payment app that lets you make simple, easy, and quick transactions using Unified Payments Interface (UPI). You can make direct bank payments to anyone on UPI using their UPI ID or scanning their QR with the BHIM app. You can also request money through the app from a UPI ID. Statement 2 is not correct: From a consumer point of view, three levels of authentication are required in this app. 1. The device ID and mobile number,
2. The bank account which you are linking to this app, and
3. The UPI Pin which is needed to complete the transaction. There are three factors of authentication versus a normal net banking app or a chip-in debit card which will only have two factors of authentication.

PMJDY is a National Mission on Financial Inclusion encompassing an integrated approach to bring about comprehensive financial inclusion of all households in the country. The plan envisages: - Universal access to banking facilities with at least one basic banking account for every household.
- Financial literacy.
- Access to credit.
- Insurance and pension facility.

* Statement 1 is correct. The digital rupee, also known as the e-rupee or Central Bank Digital Currency (CBDC), is indeed a sovereign currency issued by the RBI. It's a digital representation of India's fiat currency and is part of the RBI's monetary policy toolkit. * Statement 2 is correct. Like physical currency, the digital rupee is a liability on the RBI's balance sheet. When you hold digital rupees, it's essentially a claim you have on the RBI, similar to holding physical banknotes. * Statement 3 is incorrect. The digital rupee, by itself, doesn't come with inherent inflation protection. Its value, like physical currency, is subject to inflationary pressures. The RBI manages inflation through its monetary policy measures, not through the inherent design of the digital rupee. * Statement 4 is correct. The digital rupee is designed to be freely convertible. This means you can easily exchange it with bank deposits (commercial bank money) and cash at a 1:1 ratio without any restrictions. Therefore, the correct answer is (D) 1, 2 and 4.

Business Correspondents (BCs) or Bank Saathis are agents appointed by banks to provide basic banking services in rural and unbanked areas where setting up a full-fledged branch might not be feasible. They act as a bridge between the bank and the local population, offering essential financial services Statement 1 is correct: BCs can help villagers access government subsidies and social security benefits electronically deposited into their accounts. This eliminates the need to travel long distances to banks and reduces the risk of cash handling. Statement 2 is correct: Villagers can deposit their savings or withdraw cash through BCs, promoting financial inclusion and facilitating small transactions without requiring them to visit a bank branch. Therefore, both options (1 and 2) are the facilities that beneficiaries can avail through Business Correspondent services.

The information was provided by the Union Minister for Home and Cooperation, Shri Amit Shah, indicating that the project falls under the purview of the Ministry of Cooperation.

The article explicitly states, 'The timeline for completion of Computerization of PACS Project is 31.03.2027'.

Statement 1 is correct: 8525 PACS were approved. Statement 2 is correct: Total financial assistance released to Rajasthan is Rs. 92.83 Cr. Statement 3 is incorrect: While 6933 PACS were ERP onboarded, 1592 PACS are still to be onboarded in Rajasthan.