New UPI Payment Options Launched by NPCI for Inclusive Digital Payments

On September 7, 2023, the National Payments Corporation of India (NPCI) introduced several new payment options on the Unified Payment Interface (UPI). RBI Governor Shaktikanta Das announced these options at the ongoing Global Fintech Festival in Mumbai. The new options are :

  1. Hello! UPI for voice-enabled payments.
  2. Credit Line on UPI for instant loans.
  3. UPI LITE X for low-cost smartphones.
  4. Tap & Pay for contactless payments.

These additions aim to create an inclusive, resilient, and sustainable digital payments ecosystem and contribute to UPI’s goal of achieving 100 billion transactions per month.

Question: Which organization introduced new payment options on the Unified Payment Interface (UPI)?

A) Reserve Bank of India (RBI)
B) National Payments Corporation of India (NPCI)
C) Indian Ministry of Finance
D) State Bank of India (SBI)

Answer: B) National Payments Corporation of India (NPCI)

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