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

    Question

    Which type of payment is the Reserve Bank of India

    (RBI) not responsible for regulating directly?
    A Domestic UPI payments Correct Answer Incorrect Answer
    B RTGS payments Correct Answer Incorrect Answer
    C NEFT transfers Correct Answer Incorrect Answer
    D Cross-border remittances Correct Answer Incorrect Answer
    E IMPS transactions Correct Answer Incorrect Answer

    Solution

    Explanation: The RBI does not directly regulate cross-border payments, which typically involve foreign exchange regulations under FEMA and are overseen in coordination with authorized dealers (banks) and global SWIFT mechanisms. Domestic payment systems like UPI, RTGS, and NEFT fall under RBI's direct oversight.

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