Digital Payments And Financial Inclusion PYQs — 8 UPSC CSE Previous Year Questions

Question 1

Which one of the following best describes the key objective of India's 'Open Network for Digital Commerce' (ONDC) initiative?

Accepted Answer

C. To break the dominance of large e-commerce platforms by enabling interoperability across networks

Question 2

An e-commerce revenue model where the seller has control over pricing but doesn't keep products in stock and instead transfers customer orders and shipment details to a third-party supplier, who then ships the goods directly to the customer, is called :

Accepted Answer

A. Dropshipping Model

Question 3

Which one of the following correctly represents the three key sub-indices of the Financial Inclusion Index (FI-Index) of the Reserve Bank of India (RBI)?

Accepted Answer

C. Access, Usage, and Quality

Question 4

Which one of the following statements about Unified Payments Interface (UPI) and Central Bank Digital Currency (Digital Rupee) is not correct?

Accepted Answer

D. In both the cases (UPI and Digital Rupee), the liability lies with the users and their respective banks.

Question 5

Which of the following statements about M1xchange's role in Micro, Small & Medium Enterprises (MSMEs) financing is/are correct? M1xchange provides collateral based loans to MSMEs. M1xchange facilitates discounting of invoices and Bills of Exchange for MSMEs. M1xchange functions as a credit rating agency for MSMEs. Select the answer using the code given below:

Accepted Answer

B. 2 only

Question 6

Consider the following statements in respect of RTGS and NEFT : In RTGS, the settlement time is instantaneous while in case of NEFT, it takes some time to settle payments. In RTGS, the customer is charged for inward transactions while that is not the case for NEFT. Operating hours for RTGS are restricted on certain days while this is not true for NEFT. Which of the statements given above is/are correct?

Accepted Answer

A. I only

Question 7

Which one of the following links all the ATMs in India ?

Accepted Answer

C. National Payments Corporation of India

Question 8

With reference to 'Bitcoins', sometimes seen in the news, which of the following statements is/are correct? Bitcoins are tracked by the Central Banks of the countries. Anyone with a Bitcoin address can send and receive Bitcoins from anyone else with a Bitcoin address. Online payments can be sent without either side knowing the identity of the other. Select the correct answer using the code given below.

Accepted Answer

B. 2 and 3 only