Q. Consider the following statements:
1.RuPay is India’s indigenous payment network.
2.Currently, RuPay card is available only in the form of debit cards.
3.Banks that issue RuPay cards don’t have to pay network registration fees.
Select the correct statements using the codes given below:

[A] 2 and 3 only

[B] 1 only

[C] 1 and 3 only

[D] 2 only

Answer: C

Explanation –

Statement 1 and 3 are correct. RuPay is India’s indigenous payment network. Banks that issue RuPay cards enjoy an advantage because they don’t need to pay network registration fees, unlike in the case of a MasterCard or Visa registration because RuPay is a domestic framework.

Statement 2 is incorrect. RuPay has both debit and credit cards on offer for individuals and corporates.

Source: ForumIAS