UPSC CSE Prelims
Question 46
With reference to digital payments, consider the following statements :
- BHIM app allows the user to transfer money to anyone with a UPI-enabled bank account.
- While a chip-pin debit card has four factors of authentication, BHIM app has only two factors of authentication.
Which of the statements given above is/are correct ?
View correct answer and explanation
Correct answer: A
Correct Option: A
Explanation: BHIM uses UPI to transfer money between linked bank accounts; the claim assigning exactly four authentication factors to a chip-and-PIN card versus two to BHIM is inaccurate.
Statement/Pair-wise Analysis:
Statement/Item 1: Correct - BHIM facilitates UPI transfers to eligible UPI-enabled bank accounts.
Statement/Item 2: Incorrect - A chip-and-PIN debit transaction does not universally require four distinct authentication factors; the stated comparison is misleading.
Option-wise Analysis:
A: Correct - includes all and only the true statements/items.
B: Incorrect - includes incorrect statement/item 2; omits correct statement/item 1.
C: Incorrect - includes incorrect statement/item 2.
D: Incorrect - omits correct statement/item 1.