Read the following passage carefully and answer the questions that follow. 
India is still a cash economy but if anything managed to chip away at that, even if just slightly, it has been the rapidly innovating digital wallets industry. Startups including Paytm, Oxigen Services and Mobikwik helped the Indian economy take baby steps towards digitisation, handholding and enticing customers with cashbacks and discounts to make the transition from cash to digital.
On February 28, that Rs 12,000-crore digital wallets industry got stranded unable to meet a Reserve Bank of India deadline for collecting information on all customers. In effect, customers who haven’t furnished all the information required under RBI’s full know-your-customer norms will not be able to use their digital wallets (except to use up whatever money remains in their wallets).
Collecting all that information, including biometric details, is cumbersome and so far digital wallet providers have managed to gather full KYC details for fewer than 10% of their customers. In other words,………………………………(A)……………………………….. In the tightly regulated world of banking and finance, mobile wallets brought in a whiff of fresh air. As the first segment of financial technology players in the country, these wallets disrupted banks in more ways than one. For many young customers, their first point of contact with formal banking was through a mobile wallet.
The biggest advantage that digital wallets, or prepaid payments instruments (PPI), brought was the easy onboarding. All a user had to do was download the app, verify their mobile number, link a bank account through a debit or credit card, and begin transacting. It was as simple as that! Now, customers have to submit photo ID proofs, link their Aadhaar identity numbers, and submit biometric details, making the process almost like opening a bank account. Even so, RBI made full KYC mandatory for digital wallets to reduce fraud in the system and eventually bring in interoperability among the wallets.