Question
RBI’s new framework welcomed by fintech firms relates
to which aspect of financial operations?Solution
The new framework issued by the RBI focuses on digital payment authentication, aimed at improving transaction security, strengthening consumer trust, and promoting financial inclusion. The guidelines are expected to support safe digital adoption, particularly for first-time users in semi-urban and rural regions where trust in digital finance is still evolving.
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Consider the following statement about Marginal Cost of Funds based Lending Rate (MCLR)?
I. It is the mechanism of determining commercial bank ...
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