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What does UPI stand for ?

  • A.Universal Payment Interface
  • B.Unified Payments Interface
  • C.United Payment Instrument
  • D.Unified Personal Identification

Answer: B

Correct answer: Unified Payments Interface

UPI allows several bank accounts to be operated through a single mobile application, addressing payments by a virtual identifier rather than account and IFSC details. It was launched in 2016 and is operated by the National Payments Corporation of India.

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