Consider the following statements about Unified Payments Interface (UPI):
- It seeks to promote cashless economy in the country
- It has been developed by National Payments Corporation of India (NPCI)
- It facilitates the user to have a single virtual address for multiple bank accounts
Which of the above statements is/are correct?
Third statement is incorrect because UPI will allow a customer to have multiple virtual addresses for multiple accounts in various banks.
This question is a part of GKToday's Integrated IAS General Studies Module