Unified Payments Interface enables: MCQ with Answer and Explanation

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Unified Payments Interface enables:

A. only government payments

B. instant interbank transfer using a virtual payment address

C. only credit card payments

D. only cheque clearing

Answer: Option B

Solution (By JKSSB Mock Tests)

UPI enables instant interbank transfers through virtual payment addresses using mobile devices.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Atal Pension Yojana' is primarily targeted at:

A. organized sector employees only

B. children

C. government employees only

D. unorganized sector workers

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Correct Answer: Option D

Explanation:
Atal Pension Yojana provides pension to workers in the unorganized sector.

This question belongs to: Economy GK Economy Set 1

Question #2

The Green Revolution in India was primarily associated with:

A. organic farming

B. horticulture

C. increasing output of pulses

D. high-yielding varieties of wheat and rice

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Correct Answer: Option D

Explanation:
The Green Revolution introduced high-yielding varieties of wheat and rice.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Ways and Means Advances' are given by RBI to:

A. central and state governments to bridge temporary mismatches in receipts and expenditures

B. foreign governments

C. commercial banks

D. NBFCs

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Correct Answer: Option A

Explanation:
Ways and Means Advances are short-term advances by RBI to governments to bridge temporary mismatches.

This question belongs to: Economy GK Economy Set 1

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