With reference to Unified Payments Interface (UPI) and RuPay network, consider the following statements: 1. Both are managed by the National Payments Corporation of India (NPCI).2. UPI and RuPay transactions attract zero-Merchant Discount Rate (MDR)..Which of the statements given above is/are incorrect? |ForumIAS

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: D

Notes:

Both the RuPay network and UPI are managed by the same organization – the National Payments Corporation of India (NPCI).
According to a norm that has been in effect since January 2020, UPI and RuPay attract zero-MDR meaning that no charges are applied to these transactions, which is a key reason behind the prolific adoption of UPI both by users and merchants.

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