Prelims 2017 · Q43
Which of the following is a most likely consequence of implementing the 'Unified Payments Interface (UPI)'?
- (a)Mobile wallets will not be necessary for online payments.
- (b)Digital currency will totally replace the physical currency in about two decades.
- (c)FDI inflows will drastically increase.
- (d)Direct transfer of subsidies to poor people will become very effective.
Show answer
UPSC's answer: (a)
NCERT answers it: Class 7 Exploring Society: India and Beyond (Part 1), Ch 11 (From Barter to Money).
How to solve it with NCERT: Class 7 Exploring Society (Part 1), ch 11: UPI moves money directly from one bank account into another. If money goes bank-to-bank, you no longer need to load a mobile wallet first. The other options are sweeping claims NCERT gives no basis for. Answer (a).
Hindi version: UPSC's official question paper (2017), question 43 ↗