Concept:Project Nexus is a BIS-led multilateral initiative to enable instant cross-border retail payments by linking the domestic Fast Payment Systems of participating countries.
Explanation:Statement 1 is correct because Project Nexus is an initiative of the Bank for International Settlements (BIS) developed through its Innovation Hub.
It connects multiple global domestic instant payment systems (IPS) to make cross-border payments faster and more efficient.
Statement 2 is correct because the founding member countries are India, Malaysia, Philippines, Singapore, and Thailand, with Indonesia joining later.
Thus, the project aims to connect the Fast Payment Systems (FPS) of all six countries, including Indonesia.
Statement 3 is correct because Project Nexus centralises the connection through a single platform.
This allows cross-border payments to be completed in real time, usually within 60 seconds from sender to recipient.
RBI has joined this initiative to help India's UPI expand its international reach through a multilateral platform.
Since all three statements are factually correct, the correct answer is Option E.
Answer:E. All are correct