Which of the following benefits is incorrect in the context of BHIM UP

1.	Which of the following benefits is incorrect in the context of BHIM UPI (Unified Payments Interface)?1. FDI inflows will increase.2. Effective direct transfer of subsidies to poor people3. Mobile wallets will not be necessary, because your mobile number is directly linked with the bank account.4. None of the above is incorrect
Answer» Correct Answer - Option 4 : None of the above is incorrect The correct answer is None of the above is incorrect. Bharat Interface for Money (BHIM) is a payment app that lets you make simple, easy and quick transactions using Unified Payments Interface (UPI). It allows transfer of money from one bank account to another instantly via one's mobile phone. Payments can be made via app on mobile device only. The Unified Payment Interface is a real-time payment system. It is developed by National Payments Corporation of India (NPCI). It was launched on 30th December 2016. It aims to bring in Financial Inclusion to the nation and a digitally empowered society. Mobile wallets will not be necessary, because your mobile number is directly linked with the bank account. Advantages: Increment in digital currency. Effective direct transfer of subsidies to poor people. FDI inflows will increase. Secure: Single Click 2 Factor Authentication. Universal Application for all transaction. Leveraging existing infrastructure. No risk of storing customer’s virtual address.

Which of the following benefits is incorrect in the context of BHIM UPI (Unified Payments Interface)?1. FDI inflows will increase.2. Effective direct transfer of subsidies to poor people3. Mobile wallets will not be necessary, because your mobile number is directly linked with the bank account.4. None of the above is incorrect

Answer» Correct Answer - Option 4 : None of the above is incorrect

The correct answer is None of the above is incorrect.

Bharat Interface for Money (BHIM) is a payment app that lets you make simple, easy and quick transactions using Unified Payments Interface (UPI).
It allows transfer of money from one bank account to another instantly via one's mobile phone.
Payments can be made via app on mobile device only.
The Unified Payment Interface is a real-time payment system.
It is developed by National Payments Corporation of India (NPCI).
It was launched on 30th December 2016.
It aims to bring in Financial Inclusion to the nation and a digitally empowered society.
Mobile wallets will not be necessary, because your mobile number is directly linked with the bank account.
Advantages:
- Increment in digital currency.
- Effective direct transfer of subsidies to poor people.
- FDI inflows will increase.
- Secure: Single Click 2 Factor Authentication.
- Universal Application for all transaction.
- Leveraging existing infrastructure.
- No risk of storing customer’s virtual address.