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GS Paper IUPSC Prelims 2017
Banking & Financial System
Question No. 173Interactive Test Mode
00:00
+2-0.66

Q173. Which of the following is a most likely consequence of implementing the ‘Unified Payments Interface (UPI)’?

Which of the following is a most likely consequence of implementing the ‘Unified Payments Interface (UPI)’?

Select the correct option below (or cross out options to eliminate)
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Official Answer Key & Detailed Solution

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Official UPSC Answer KeyUPSC Prelims 2017 • Indian Economy

Correct Answer: Option (A) — Mobile wallets will not be necessary for online payments.

Concept & Option Breakdown

Standard Reference Verified

UPI allows direct bank-to-bank electronic fund transfers using a virtual ID or mobile number, bypassing the need to load money into intermediary digital/mobile wallets.

Elimination Heuristic & Exam Approach

Avoid extreme options featuring absolute terms like 'totally replace' or unrelated macroeconomic claims like 'FDI inflows will drastically increase'.

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Question Specifications & Syllabus Mapping

Examination & YearUPSC Civil Services Preliminary Examination 2017 (Q173)
Paper & Marking SchemeGS Paper I • 2 Marks (-0.66 Negative for incorrect response)
Syllabus Subject & TopicIndian Economy → Banking & Financial System
Official Answer KeyOption (A) — Mobile wallets will not be necessary for online payments.

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Frequently Asked Questions — UPSC Prelims 2017 Q173

What is the official answer for UPSC Prelims 2017 GS Paper I Question 173 (Indian Economy)?

The official UPSC answer key for this 2017 Indian Economy (Banking & Financial System) question is Option (A): "Mobile wallets will not be necessary for online payments.". Correct attempts carry 2 Marks with -0.66 Negative penalty for wrong answers.

Which UPSC Prelims syllabus topic does this 2017 question belong to?

This question belongs to GS Paper I under the subject "Indian Economy" and micro-topic "Banking & Financial System". You can explore all repeated questions from Banking & Financial System in Acme AI's 3D Prelims PYQ Realm or practice 50 full-length and sectional tests in the APT Prelims Test Series.

How can I solve this Banking & Financial System UPSC Prelims question using option elimination?

Avoid extreme options featuring absolute terms like 'totally replace' or unrelated macroeconomic claims like 'FDI inflows will drastically increase'.

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