With reference to the Payments Vision 2025 document consider the following statements 1 It is recen...........

Current GK ( Master) Financial Inclusion

With reference to the Payments Vision 2025 document, consider the following statements:

1. It is recently released by RBI.

2. It includes a provision that calls for developing a framework for an internet of things (IoT)-based payments systems.

Which of the statements given above is/are correct?

Only 1

Only 2

Both 1 and 2

None of these

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Explanation:

The Reserve Bank of India (RBI) on Friday (June 17) released its ‘Payments Vision 2025’ that aims to strengthen the e-payments ecosystem in the country.

Based on the core theme of ‘E-Payments for Everyone, Everywhere, Everytime (4 Es)’, the document envisages to provide users with safe, secure, fast, convenient, accessible, and affordable e-payment options.

The Vision 2025 document also includes a provision that calls for developing a framework for an internet of things (IoT)-based payments systems that would enable customers to pay via connected devices apart from users’ phones and tablets.