Ans:- The use of digital technologies for financial transactions and services
Ans:- A payment made electronically without physical cash
Ans:- Fast, convenient, and cashless transactions
Ans:- National Payments Corporation of India
Ans:- 2008
Ans:- To manage retail payment and settlement systems in India
Ans:- Reserve Bank of India
Ans:- Regulates and monitors digital payment systems.
Ans:- National Electronic Funds Transfer
Ans:- Real-Time Gross Settlement
Ans:- Immediate Payment Service
Ans:- RTGS is real-time; NEFT settles in batches
Ans:- Unified Payments Interface
Ans:- NPCI
Ans:- 2016
Ans:- To enable instant money transfers via mobile
Ans:- Bharat Interface for Money
Ans:- NPCI
Ans:- To facilitate UPI-based payments
Ans:- Aadhaar Enabled Payment System
Ans:- Aadhaar number and biometric authentication
Ans:- Automated Teller Machine
Ans:- To withdraw or deposit cash using a debit or credit card
Ans:- Point of Sale
Ans:- To make digital payments using cards
Ans:- Quick Response code
Ans:- To scan and make instant digital payments
Ans:- A digital application used to store money electronically
Ans:- Paytm, PhonePe
Ans:- Pay Through Mobile
Ans:- A UPI-based payment application by Google
Ans:- A UPI-based digital payment app in India
Ans:- A digital wallet linked to Amazon accounts
Ans:- To make online payments for goods and services
Ans:- One Time Password
Ans:- To verify the identity of the user
Ans:- A card that deducts money directly from a bank account
Ans:- A card that allows users to borrow funds from a bank
Ans:- Debit uses own funds; credit uses borrowed funds
Ans:- Card Verification Value
Ans:- On the back of a debit or credit card
Ans:- Proof of a completed electronic transaction
Ans:- Performing banking operations using a smartphone app
Ans:- Accessing banking services through a web browser
Ans:- To identify bank branches for electronic payments
Ans:- 11 characters
Ans:- Magnetic Ink Character Recognition
Ans:- To identify bank and branch in cheque processing
Ans:- Electronic clearing of cheques using scanned images
Ans:- Storing money digitally for easy payments
Ans:- A service that authorizes online payments securely
Ans:- Razorpay, PayU
Ans:- A site where users can buy and sell goods online
Ans:- Buying and selling goods through mobile devices
Ans:- An electronic proof of transaction
Ans:- A company that uses technology to provide financial services
Ans:- Paytm, Razorpay
Ans:- Equated Monthly Installment
Ans:- Repaying loans in monthly installments
Ans:- Bharat Bill Payment System
Ans:- To provide an integrated bill payment system in India
Ans:- National Automated Clearing House
Ans:- To automate recurring payments like salaries or bills
Ans:- Unstructured Supplementary Service Data
Ans:- To perform UPI transactions without internet
Ans:- An Indian domestic card payment network by NPCI
Ans:- Debit, Credit, and Prepaid cards
Ans:- A common QR code standard for digital payments
Ans:- A prepaid tag for automatic toll payment on highways
Ans:- Radio Frequency Identification (RFID)
Ans:- A digital voucher-based payment system
Ans:- NPCI
Ans:- August 2021
Ans:- Authentication of online transactions.
Ans:- A secret code used to access digital accounts.
Ans:- Using two verification methods for security.
Ans:- Malicious software designed to harm systems
Ans:- To block unauthorized network access
Ans:- To detect and remove harmful programs
Ans:- Protection of Internet-connected systems from threats
Ans:- Regulates and ensures secure digital transactions
Ans:- Pradhan Mantri Jan Dhan Yojana
Ans:- To provide universal access to banking services
Ans:- Jan Dhan, Aadhaar, and Mobile** integration
Ans:- To promote financial inclusion and digital payments
Ans:- Direct Benefit Transfer
Ans:- To transfer subsidies directly into beneficiaries’ bank accounts
Ans:- Payment system using Aadhaar authentication
Ans:- Public Financial Management System
Ans:- To track fund flow and disbursement for government schemes.
Ans:- Reduces leakage and ensures transparency
Ans:- Electronic Know Your Customer
Ans:- To verify a customer’s identity electronically