The 'UPI' transaction limit per transaction set by NPCI is generally: MCQ with Answer and Explanation

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The 'UPI' transaction limit per transaction set by NPCI is generally:

A. Rs 1,00,000

B. Rs 10,00,000

C. Rs 10,000

D. Rs 5,00,000

Answer: Option A

Solution (By JKSSB Mock Tests)

The general UPI transaction limit is Rs 1 lakh per transaction, though it varies by bank/category.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

Which of the following is a characteristic of 'Algorithmic Pricing'?

A. Only manual price setting by humans

B. Prices that never change

C. The use of algorithms to set prices automatically, potentially leading to tacit collusion or rapid price adjustment

D. Only cost-plus pricing without data

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Correct Answer: Option C

Explanation:
Algorithmic pricing employs software algorithms that automatically adjust prices in response to demand, competitor prices and other data; under certain conditions it can facilitate tacit collusion or increase price volatility.

This question belongs to: Economy GK Economy Set 1

Question #2

Excess capacity is a characteristic feature of which market structure?

A. Monopolistic competition

B. Perfect competition

C. Pure competition

D. Monopoly

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Correct Answer: Option A

Explanation:
Firms in monopolistic competition produce below optimum capacity, leading to excess capacity.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'GST Suvidha Provider' is an entity that:

A. sets GST rates

B. provides IT solutions for GST compliance

C. makes GST law

D. collects GST

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Correct Answer: Option B

Explanation:
GST Suvidha Providers offer IT applications for GST compliance.

This question belongs to: Economy GK Economy Set 1

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