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UPSC Civil Services 2017 Prelims General Studies Paper I
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Question : 2
Total: 100
Which of the following is a most likely consequence of implementing the 'Unified Payments Interface (UPI)?
Mobile wallets will not be necessary for online payments.
Digital currency will totally replace the physical currency in about two decades.
FDI inflows will drastically increase.
Direct transfer of subsidies to poor people will become very effective.
Validate
Solution:
"A" is the most appropriate choice. Mobile wallets will not be necessary, because your mobile number is directly linked with the bank account using bank's 'customized app' which is built on the UPI platform.
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