UPSC Prelims 2017·GS1·economy·money and banking

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?

Dalvoy logo
Reviewed by Dalvoy
UPSC Civil Services preparation
Last updated 23 May 2026, 3:31 pm IST
  1. A1 only
  2. B2 only
  3. CBoth 1 and 2Correct
  4. DNeither 1 nor 2

Explanation

Let's examine both statements regarding the National Payments Corporation of India (NPCI): 1. National Payments Corporation of India (NPCI) helps in promoting the financial inclusion in the country. This statement is correct. NPCI was established in 2008 as an umbrella organization for operating retail payments and settlement systems in India. Its various initiatives, such as the Aadhaar Enabled Payment System (AePS), Unified Payments Interface (UPI), and RuPay, have played a crucial role in enabling easier access to digital payment services for a large segment of the population, including those in rural and underserved areas, thereby significantly promoting financial inclusion. 2. NPCI has launched RuPay, a card payment scheme. This statement is correct. RuPay is India's indigenous card payment network, launched by NPCI in 2012. It was developed to provide an alternative to international payment networks (like Visa and MasterCard), reduce transactional costs, and promote domestic card usage, fitting well with the broader goal of financial inclusion and self-reliance in the payments ecosystem. Since both statements are accurate, the correct option is C.
economy: Consider the following statements: 1. National Payments Corporation of India (NPCI) helps in promoting the financial inc

Related questions

More UPSC Prelims practice from the same subject and topic.