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20 questions from UPSC CSE Prelims GS Paper 1 on Digital Payments & Financial Inclusion (Indian Economy). Spanning from 2010 to 2025. Practice with show/hide answers and detailed explanations.
20
Questions
12
Years
10
Easy
10
Moderate
Q: Consider the following statements in respect of RTGS and NEFT : I. In RTGS, the settlement time is instantaneous while in case of NEFT, it takes some time to settle payments. II. In RTGS, the customer is charged for inward transactions while that is not the case for NEFT. III. Operating hours for RTGS are restricted on certain days while this is not true for NEFT. Which of the statements given above is/are correct?
Q: Consider the following countries : I. United Arab Emirates II. France III. Germany IV. Singapore V. Bangladesh How many countries amongst the above are there other than India where international merchant payments are accepted under UPI?
Q: Consider the following statements in respect of the digital rupee: 1. It is a sovereign currency issued by the Reserve Bank of India (RBI) in alignment with its monetary policy. 2. It appears as a liability on the RBI’s balance sheet. 3. It is insured against inflation by its very design. 4. It is freely convertible against commercial bank money and cash. Which of the statements given above are correct?
Q: With reference to Central Bank digital currencies, consider the following statements: 1. It is possible to make payments in a digital currency without using US dollar or SWIFT system. 2. A digital currency can be distributed with a condition programmed into it such as a time-frame for spending it. Which of the statements given above is/are correct?
Q: Consider the following statements: 1. The Self-Help Group (SHG) programme was originally initiated by the State Bank of India by providing microcredit to the financially deprived. 2. In an SHG, all members of a group take responsibility for a loan that an individual member takes. 3. The Regional Rural Banks and Scheduled Commercial Banks support SHGs. How many of the above statements are correct?
Q: 'वॉटरक्रेडिट' के संदर्भ में, निम्नलिखित कथनों पर विचार कीजिए : 1. यह जल एवं स्वच्छता क्षेत्र में कार्य के लिए सूक्ष्म वित्त साधनों (माइक्रोफाइनेंस टूल्स) को लागू करता है। 2. यह एक वैश्विक पहल है जिसे विश्व स्वास्थ्य संगठन और विश्व बैंक के सहयोग से प्रारंभ किया गया है। 3. इसका उद्देश्य निम्न आयवर्गीय व्यक्तियों को सब्सिडी के बिना अपनी जल-संबंधी आवश्यकताओं को पूरा करने के लिए सक्षम बनाना है। उपरोक्त कथनों में से कौन-से सही हैं?
Q: Consider the following statements: The Reserve Bank of India’s recent directives relating to ‘Storage of Payment System Data’, popularly known as data diktat, command the payment system providers that 1. they shall ensure that entire data relating to payment systems operated by them are stored in a system only in India. 2. they shall ensure that the systems are owned and operated by public sector enterprises. 3. they shall submit the consolidated system audit report to the Comptroller and Auditor General of India by the end of the calendar year. Which of the statements given above is/are correct?
Q: कभी-कभी समाचारों में आने वाले पद “व्यापारी छूट दर” (Merchant Discount Rate) को निम्नलिखित में से कौन-सा सबसे सही सूचित करता है?
Q: निम्नलिखित में से कौन भारत के सभी ATM को जोड़ता है ?
Q: What is the purpose of setting up of Small Finance Banks (SFBs) in India? 1. To supply credit to small business units 2. To supply credit to small and marginal farmers 3. To encourage young entrepreneurs to set up business particularly in rural areas. Select the correct answer using the code given below:
Q: Which of the following is a most likely consequence of implementing the ‘Unified Payments Interface (UPI)’?
Q: निम्नलिखित कथनों पर विचार कीजिए : 1. भारतीय राष्ट्रीय भुगतान निगम (National Payments Corporation of India/NPCI) देश में खुदरा भुगतान के विकास के संबंध में प्रमुख संस्था है। 2. NPCI ने अपने कार्ड भुगतान स्कीम RuPay प्रारंभ की है। उपयुक्त कथनों में से कौन-सा/से सही है/हैं ?
Q: The establishment of ‘Payment Banks’ is being allowed in India to promote financial inclusion. Which of the following statements is/are correct in this context? 1. Mobile telephone companies and supermarket chains that are owned and controlled by residents are eligible to be promoters of Payment Banks. 2. Payment Banks can issue both credit cards and debit cards. 3. Payment Banks cannot undertake lending activities. Select the correct answer using the code given below.
Q: With reference to ‘Stand Up India Scheme’, which of the following statements is/are correct? 1. Its purpose is to promote entrepreneurship among SC/ST and women entrepreneurs. 2. It provides for refinance through SIDBI. Select the correct answer using the code given below:
Q: The term 'Core Banking Solutions' is sometimes seen in the news. Which of the following statements best describes/describe this term? 1. It is a networking of a bank's branches which enables customers to operate their accounts from any branch of the bank on its network regardless of where they open their accounts. 2. It is an effort to increase RBI's control over commercial banks through computerization. 3. It is a detailed procedure by which a bank with huge non-performing assets is taken over by another bank. Select the correct answer using the code given below.
Q: Pradhan Mantri MUDRA Yojana is aimed at
Q: ‘Pradhan Mantri Jan-Dhan Yojana’ has been launched for
Q: What is/are the facility/facilities the beneficiaries can get from the services of Business Correspondent (Bank Saathi) in branchless areas? 1. It enables the beneficiaries to draw their subsidies and social security benefits in their villages. 2. It enables the beneficiaries in the rural areas to make deposits and withdrawals. Select the correct answer using the code given below.
Q: Microfinance is the provision of financial services to people of low-income groups. This includes both the consumers and the self-employed. The service/services rendered under microfinance is/are: 1. Credit facilities 2. Savings facilities 3. Insurance facilities 4. Fund Transfer facilities Select the correct answer using the codes given below the lists:
Q: With reference to India, consider the following : 1. Nationalization of Banks 2. Formation of Regional Rural Banks 3. Adoption of villages by Bank Branches Which of the above can be considered as steps taken to achieve the “financial inclusion” in India ?
Yes, but only broad caps such as the ₹1 lakh per-transaction general limit and the higher cap for specific categories like IPO subscriptions or credit card on UPI. UPSC may test these thresholds in statements.
No. Conceptual clarity on layers—Issuer, PSP, NPCI switch—and terms like VPA and IMPS settlement suffices. UPSC focuses on policy, operation flow and regulatory oversight, not programming details.
