Digital Banking Revolution in India
5 Questions
1 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is the primary function of UPI (Unified Payments Interface)?

  • Providing internet banking services for account management
  • Enabling peer-to-peer transfers through a digital wallet
  • Storing digital money for online shopping
  • Real-time transfer of funds between bank accounts using smartphones (correct)
  • What distinguishes digital wallets from other digital banking elements?

  • Enabling users to make payments without using physical cash (correct)
  • Offering traditional banking services like loans and mortgages
  • Allowing users to access banking services on smartphones
  • Providing investment opportunities in stock markets
  • What has led to the rise of mobile banking apps?

  • Expansion of internet banking platforms
  • Introduction of traditional banking services
  • Integration of digital payment platforms
  • Proliferation of smartphones (correct)
  • What is a key feature of internet banking in India?

    <p>Performing various transactions such as fund transfers and bill payments</p> Signup and view all the answers

    What differentiates UPI from digital payment platforms like Paytm and Google Pay?

    <p>It is a real-time payment system allowing instant transfer of funds between bank accounts using smartphones</p> Signup and view all the answers

    More Like This

    E-CRM in Digital Banking
    10 questions
    Mobile Banking Services Quiz
    18 questions

    Mobile Banking Services Quiz

    JudiciousPhosphorus avatar
    JudiciousPhosphorus
    Digital Banking Services Quiz
    18 questions
    Digital Banking Overview and Capabilities
    16 questions
    Use Quizgecko on...
    Browser
    Browser