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    Question

    As per the RBI’s framework for small-value offline

    payment transactions which take place in digital mode, the upper limit for offline payment transactions was fixed at ­­­­____ and the total limit on a payment instrument is at Rs 2000?
    A Rs 500 Correct Answer Incorrect Answer
    B Rs 300 Correct Answer Incorrect Answer
    C Rs 200 Correct Answer Incorrect Answer
    D Rs 700 Correct Answer Incorrect Answer
    E Rs 800 Correct Answer Incorrect Answer

    Solution

    The Reserve Bank of India (RBI) has released a framework for small-value offline payment transactions which take place in digital mode. Offline payments can be performed using any channel or devices like cards, wallets, or mobile phones, but must be made in proximity or in face-to-face mode. Offline digital payments are those payments that do not require internet or telecom connectivity. The upper limit for offline payment transactions was fixed at Rs 200 and the total limit on a payment instrument is Rs 2000. There will not be a requirement for additional factors of authentication. The alerts via SMS or e-mail will be received by the customer

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