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      Question

      What initiative by the Reserve Bank of India (RBI) aims

      to enhance digital wallet interoperability in 2024?Β 
      A Launch of a new digital currency Correct Answer Incorrect Answer
      B Introduction of biometric authentication for banking Correct Answer Incorrect Answer
      C Allowing prepaid payment instruments (PPIs) to link with third-party UPI applications Correct Answer Incorrect Answer
      D Implementation of blockchain technology in financial transactions Correct Answer Incorrect Answer
      E Introduction of a new banking regulation for digital transactions Correct Answer Incorrect Answer

      Solution

      Explanation: The RBI proposed allowing PPIs to link with third-party unified payments interface (UPI) applications to enhance digital wallet interoperability, marking a significant step towards democratizing the digital wallet market and improving transaction convenience for users.

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