New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Which payment system has facilitated the smooth release

    of DBT benefits by the Prime Minister to 8.34 crore farmers under the PM-KISAN Scheme?
    A UPI Correct Answer Incorrect Answer
    B BBPS Correct Answer Incorrect Answer
    C NETC Correct Answer Incorrect Answer
    D NACH Correct Answer Incorrect Answer
    E IMPS Correct Answer Incorrect Answer

    Solution

    Explanation: The National Automated Clearing House (NACH) system has also facilitated Government Direct Benefit Transfers (DBT) payments digitally and eliminating leakages in the system. NACH System can be used for making bulk transactions towards distribution of subsidies, dividends, interest, salary, pension etc. and also for bulk transactions towards collection of payments pertaining to telephone, electricity, water, loans, investments in mutual funds, insurance premium etc.

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