Digital Payment Systems
Economics ⇒ Money and Banking
Digital Payment Systems starts at 11 and continues till grade 12.
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Describe any two challenges faced in the adoption of digital payment systems in rural India.
Explain how digital payment systems contribute to the reduction of transaction costs.
Explain the concept of 'cashless economy' in the context of digital payment systems.
Explain the impact of demonetisation on the adoption of digital payment systems in India.
Explain the importance of digital payment systems in promoting transparency in the economy.
Explain the main difference between NEFT and RTGS in digital payments.
Explain the process of making a payment using a QR code in a digital payment system.
Explain the role of NPCI in digital payment systems in India.
Which of the following is a direct benefit of digital payment systems for consumers? (1) Need to visit bank branches (2) 24x7 access to funds (3) Increased paperwork (4) Delay in transactions
Which of the following is a government-backed digital payment platform in India? (1) Paytm (2) Google Pay (3) BHIM (4) PhonePe
Which of the following is a limitation of digital payment systems? (1) Instant transfer (2) Dependence on technology (3) Reduced paperwork (4) Transparency
Which of the following is a regulatory body for digital payments in India? (1) SEBI (2) RBI (3) TRAI (4) IRDAI
Fill in the blank: ________ is a digital payment system that allows fund transfer using only a mobile number and MMID.
Fill in the blank: ________ is a digital payment system that allows real-time gross settlement of funds.
Fill in the blank: ________ is a digital payment system that allows users to make payments using a virtual payment address (VPA).
Fill in the blank: ________ is a type of digital payment where payment is made by scanning a QR code.
State whether the following statement is true or false: 'Digital payment systems are only available in urban areas of India.'
State whether the following statement is true or false: 'Digital payment systems can be used for international transactions.'
State whether the following statement is true or false: 'Digital payment systems can only be used for large-value transactions.'
State whether the following statement is true or false: 'IMPS allows instant fund transfer 24x7.'
