- UPI is a digital payment system that enables instant and secure transactions through mobile phones. The facility was announced by the RBI on February 8, 2023 and implemented on February 22, 2023.
- Eligible travellers would be issued Prepaid Payment Instruments wallets linked to UPI for making payments at merchant outlets.
- UPI provides a secure and seamless payment experience.
- UPI showcases the significant progress that India has made in technology to people across the world.
- UPI can be used at over five crore merchant outlets across India that accept QR Code-based UPI payments.
- UPI eliminates the need for currency conversion or carrying cash.
- You can read more details about these benefits from the web links provided.
Question:
Q.1 When did RBI announce this facility?a. February 8, 2023
b. February 21, 2023
c. February 22, 2023
d. February 23, 2023