Discussion
Assertion (A). Use of paper money is replaced by plastic money. The future will see the electronic money clearance through satellite networking.
Reason (R). RBI is encouraging e-banking.
Answer: D
Correct answer: Both (A) and (R) are true
Both statements hold. Cash has increasingly given way to cards and to electronic transfers, and clearing now runs over telecommunication networks, with satellite links long used to reach places terrestrial networks did not.
The RBI has actively encouraged the shift, building RTGS and NEFT, promoting the National Payments Corporation of India and the UPI and IMPS systems built on it, and setting targets for digital transaction volumes. Whether the reason fully explains the assertion is another matter - technology and consumer behaviour drove much of it - but the option set here asks only whether both are true.
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