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MCQs - 2026-04

401.
What is a significant benefit for consumers due to PPI interoperability?
A Reduced choice of payment options.
B Increased inconvenience in managing multiple wallets.
C Greater flexibility and convenience in using digital wallet balances.
D Higher transaction costs for small payments.
402.
The RBI suggests that PPI interoperability can be enabled through:
A Creating separate payment networks for each PPI issuer.
B A common switch or by leveraging existing infrastructure like UPI.
C Requiring all users to switch to a single payment platform.
D Manual reconciliation of transactions between different PPIs.
403.
Which of the following types of PPIs are covered by the RBI's interoperability mandate?
A Only gift cards.
B Only mobile money accounts.
C Cards and wallets.
D All types of PPIs, including closed-loop systems.
404.
Effective from which date will the RBI's mandate for PPI interoperability come into force?
A April 1, 2026
B October 1, 2026
C January 1, 2027
D April 2, 2027
405.
What is the primary objective of the RBI's new guidelines on Prepaid Payment Instruments (PPIs) issued on April 2, 2026?
A To restrict the use of digital wallets.
B To mandate interoperability between different PPIs and UPI.
C To increase transaction fees for digital payments.
D To limit the number of PPI issuers in the market.
406.
Beyond simplifying transactions for travelers, the international expansion of UPI also aims to:
A Increase the reliance on traditional SWIFT systems.
B Promote UPI as a global payment standard and foster interoperability.
C Discourage cross-border digital commerce.
D Limit the adoption of digital payment systems in partner countries.
407.
The internationalization of UPI is being spearheaded by which subsidiary of NPCI?
A NPCI Digital Solutions
B NPCI International Holdings Limited (NIH)
C NPCI Global Payments
D NPCI Fintech Innovations
408.
What is a primary benefit for Indian citizens traveling to countries where UPI is integrated?
A Increased need for foreign currency exchange.
B Simplified transactions and reduced need for currency exchange.
C Higher transaction fees compared to local payment methods.
D Limited acceptance of UPI payments.
409.
As of April 3, 2026, which of the following countries have officially integrated their payment systems with India's UPI?
A United States, Canada, and Mexico
B United Kingdom, France, and Germany
C Singapore, Malaysia, and United Arab Emirates (UAE)
D Australia, New Zealand, and Japan
410.
Which organization is responsible for the development and implementation of the Unified Payments Interface (UPI)?
A Reserve Bank of India (RBI)
B National Payments Corporation of India (NPCI)
C Indian Banks' Association (IBA)
D Ministry of Electronics and Information Technology (MeitY)