Module: General Practice
Q7: What is a key Reserve Bank of India initiative, related to the Unified Payments Interface (UPI), aimed at improving cross-border payments?
✅ Correct Answer: A
One of the RBI's key initiatives to enhance cross-border payments is the interlinking of India's Unified Payments Interface (UPI) with the fast payment systems (FPS) of other countries, such as Singapore's PayNow.
This initiative is a major focus area in the RBI's Payment Systems Report - June 2025.
This initiative is a major focus area in the RBI's Payment Systems Report - June 2025.