Q. Consider the following statements regarding Bharat Interface for Money-Unified Payments Interface (BHIM-UPI)
1. It is interoperable with other Unified Payment Interface (UPI) applications, and bank accounts.
2. The BHIM-UPI is so far available only within Indian Territory
Which of the above statements is/are correct?

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: D

Recently The Union Minister of Finance of India along with her counterpart, the Finance Minister of Bhutan has jointly launched BHIM-UPI in Bhutan. This made Bhutan the second country after Singapore to have BHIM-UPI acceptance at merchant locations. 

About BHIM-UPI: 

  • Bharat Interface for Money(BHIM) is Unified Payments Interface(UPI) based payment interface application that allows real time fund transfer 
  • The app has been launched in 2016.It was developed by the National Payments Corporation of India (NPCI). 

Source: PIB