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Q60: What is Project Nexus, an international initiative joined by India?

A
A multilateral initiative to enable instant cross-border retail payments by interlinking domestic Fast Payment Systems (FPSs)
B
A bilateral agreement between India and Singapore to link UPI and PayNow
C
A project to assess the feasibility of embedding regulatory requirements into a common protocol
D
A project to study how tokenisation can improve wholesale payments
✅ Correct Answer: A
Project Nexus aims to create a blueprint for interlinking domestic Fast Payment Systems (FPSs) from multiple countries to enable instant cross-border retail payments.
India's participation is a key highlight in the RBI's Payment Systems Report - June 2025.
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