Consider the following statements about the Digital Payment Intelligence Platform (DPIP): 1. It is a forthcoming digital public infrastructure (DPI) designed to strengthen fraud risk management in India.2. The responsibility of building a prototype of this platform has been given to the Payment Council of India (PCI). Which of the statements given above is/are correct? |ForumIAS

Q. Consider the following statements about the Digital Payment Intelligence Platform (DPIP):
1.It is a forthcoming digital public infrastructure (DPI) designed to strengthen fraud risk management in India.
2.The responsibility of building a prototype of this platform has been given to the Payment Council of India (PCI).
Which of the statements given above is/are correct?

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: A

Notes:

Explanation: Only Statement 1 is correct

Statement 1 is correct: Digital Payment Intelligence Platform (DPIP) is a forthcoming, RBI-led digital public infrastructure (DPI) designed to strengthen fraud risk management in India. The platform seeks to bolster fraud risk management by facilitating real-time intelligence sharing and gathering, thereby preventing fraudulent digital transactions.

Statement 2 is incorrect: The Reserve Bank Innovation Hub (RBIH) has been assigned to build a prototype of DPIP in consultation with 5-10 banks.

Source: ET

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