Consider the following statements: 1. RuPay is a domestic card payment network launched in India by the Reserve Bank of India (RBI). 2. RuPay cards are categorized as both debit and credit cards. 3. Compared to Visa or Mastercard, a benefit of using RuPay cards is its wider global acceptance. Which of the statement(s) given above is/are correct? |ForumIAS

Q. Consider the following statements:
1.RuPay is a domestic card payment network launched in India by the Reserve Bank of India (RBI).
2.RuPay cards are categorized as both debit and credit cards.
3.Compared to Visa or Mastercard, a benefit of using RuPay cards is its wider global acceptance.
Which of the statement(s) given above is/are correct?

[A] 1 and 2 only

[B] 2 only

[C] 2 and 3 only

[D] 3 only

Answer: B

Notes:

Explanation –

Statements 1 and 3 are incorrect. RuPay is a domestic card payment network in India, but it was launched by the National Payments Corporation of India (NPCI). RuPay cards are primarily designed for domestic use within India and have limited international acceptance compared to Visa or Mastercard, which are widely accepted globally. Recently, Maldives is set to introduce India’s RuPay service.

Statement 2 is correct. RuPay offers both debit and credit cards, as well as prepaid cards.

Source: AIR

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