Question

who introduced the payment by result system in India​

Answer 1

Explanation:

Unified Payments Interface (UPI) is an instant real-time payment system developed by National Payments Corporation of Indiafacilitating inter-bank transactions.

Answer 2

The Reserve Bank of India introduced the payment by result system in India.

Explanation:

• In India, it is the ‘Reserve Bank of India’ (RBI) who has the authority and can start or operate a payment system in India.  

• The ‘Reserve Bank’ has initiated many forms of modes of payment and other ‘payment systems’ and has taken initiatives for the people in the country.  

• They have introduced and upgraded ‘safe and efficient modes’ of payment systems in the country for meeting the ‘requirements of the people’ of the country.

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