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    Question

    What is the key objective of the RBIā€™s newly launched

    Unified Markets Interface (UMI)?Ā 
    A To tokenize physical assets using blockchain and CBDC Correct Answer Incorrect Answer
    B To introduce a new digital rupee for retail customers Correct Answer Incorrect Answer
    C To create a national platform for cross-border remittances Correct Answer Incorrect Answer
    D To replace RTGS and NEFT systems Correct Answer Incorrect Answer
    E To launch a unified digital lending registry Correct Answer Incorrect Answer

    Solution

    The Reserve Bank of India launched the Unified Markets Interface (UMI) to enable asset tokenisationā€”turning physical assets into digital tokens using blockchain and wholesale CBDC. This initiative allows fractional ownership, enhances market transparency, and facilitates global trading. It integrates with the Account Aggregator (AA) framework, which currently handles over 160 million accounts, improving data accessibility and inclusionĀ 

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