UPSC CURRENT AFFAIRS – 2 December 2024 covers important current affairs of the day, their backward linkages, their relevance for Prelims exam and MCQs on main articles InstaLinks : Insta Links help you think beyond the current affairs issue and help you think multidimensionally to develop depth in your understanding of these issues. …
Syllabus: Economy Source: PIB Context: Launched in 2016 by NPCI, India’s UPI has revolutionized digital payments, achieving record usage in October 2024 and showcasing India’s digital financial leadership. UPI and Its Unique Features: Round-the-Clock Transactions: Operates 24/7, including holidays, for seamless fund transfers. Single Interface: Integrates multiple bank accounts in one mobile application. Secure Authentication: …
Facts for Prelims (FFP) Source: TOI, LM Context: The National Payments Corporation of India (NPCI) has allowed prepaid payment instruments (PPIs) to be part of the interoperable Unified Payments Interface (UPI) ecosystem. What does the new guideline say? The new guidelines, effective from April 1st, levy a 1.1% charge on UPI transactions above ₹2,000 …
GS Paper 3 Syllabus: Banking/ Financial Inclusion Source: PIB, Forbes, PIB Context: In January this year, about eight billion (800 crores) transactions worth nearly $200 billion (Rs. 2 lakh crores approximately) were carried out on the Unified Payment Interface (UPI) What is Digital Payment System? A digital payment sometimes called an electronic payment, is …
Continue reading “How India’s Digital Payment Revolution is Inspiring the World”
InstaLinks : help you think beyond the issue but relevant to the issue from UPSC prelims and Mains exam point of view. These linkages provided in this ‘hint’ format help you frame possible questions ina your mind that might arise(or an examiner might imagine) from each current event. InstaLinks also connect every issue to their …
Continue reading “[Mission 2023] INSIGHTS DAILY CURRENT AFFAIRS + PIB SUMMARY 22 February 2023”
InstaLinks : help you think beyond the issue but relevant to the issue from UPSC prelims and Mains exam point of view. These linkages provided in this ‘hint’ format help you frame possible questions ina your mind that might arise(or an examiner might imagine) from each current event. InstaLinks also connect every issue to their …
Continue reading “[Mission 2023] INSIGHTS DAILY CURRENT AFFAIRS + PIB SUMMARY 11 February 2023”
InstaLinks : help you think beyond the issue but relevant to the issue from UPSC prelims and Mains exam point of view. These linkages provided in this ‘hint’ format help you frame possible questions in your mind that might arise(or an examiner might imagine) from each current event. InstaLinks also connect every issue to …
Continue reading “[Mission 2023] INSIGHTS DAILY CURRENT AFFAIRS + PIB SUMMARY 7 January 2023”
GS Paper 3: Topics Covered: Inclusive growth and issues arising out of it. Context: The Reserve Bank of India has launched a new Unified Payments Interface (UPI) payments solution for feature phone users dubbed ‘UPI123Pay’. What is UPI123Pay? UPI ‘123PAY’ is a three-step method to initiate and execute services for users which will …
GS Paper 3: Topics Covered: Developments in Science and Technology. Context: The National Payments Corporation of India (NPCI) has announced that the neighboring country of Nepal will be the first foreign country to adopt India’s UPI system. What is UPI? Unified Payments Interface (UPI) is an instant real-time payment system, allowing users to …
GS Paper 3: Topics Covered: Developments related to Science and Technology. Context: The UPI facility will soon be extended to feature phone users. At the moment, the unified payments interface (UPI) — the single largest retail payments system in the country in terms of volume of transactions for small-value payments — is available only …
