UPSC CSE Prelims
Question 65
Which of the following is a most likely consequence of implementing the 'Unified Payments Interface (UPI)' ?
View correct answer and explanation
Correct answer: A
Correct Option: A
Explanation: UPI enables direct account-to-account mobile payments, reducing the need to preload funds in separate mobile wallets for routine online transfers.
Option-wise Analysis:
A: Correct - Correct-UPI can bypass standalone prepaid wallets for many payments.
B: Incorrect - UPI does not imply elimination of cash or a guaranteed timetable for a cashless economy.
C: Incorrect - UPI does not directly guarantee a dramatic increase in foreign direct investment.
D: Incorrect - UPI may aid transfers, but subsidy effectiveness depends on multiple other identification and banking systems.