Consider the following statements about the Unified Payment Interface:

  1. It has been developed by the National Payments Corporation of India (NPCI)
  2. It allows money transfer between any two bank accounts by using a Smartphone
  3. The system is operational both online as well as offline mode

   Which of the above statements is/are correct?

Answer: [D] 1, 2 & 3

All given statements are correct
Unified Payment Interface has been developed by the National Payment Corporation of India. It allows money transfer between any two bank accounts by using a Smartphone. The system is operation both online and offline mode but there is per transaction limit is Rs.1 lakh

This question is a part of GKToday's Integrated IAS General Studies Module