Q. Consider the following statements:
1.Prepaid payment instruments (PPI) include online wallets and preloaded gift cards.
2.PPI wallets are excluded to be part of the interoperable UPI ecosystem.
3.A PPI payment done through UPI refers to a transaction done via such a wallet through a UPI QR code.
Which of the statements given above are correct?

[A] 1 and 2 only

[B] 2 and 3 only

[C] 1 and 3 only

[D] 1, 2 and 3

Answer: C
Notes:

Explanation –

Statement 1 and 3 are correct. PPI include online wallets like PAYTM wallets and preloaded gift cards. A PPI payment done through UPI refers to a transaction done via such a wallet through a UPI QR code.

Statement 2 is incorrect. As per recent regulatory guidelines of NPCI, PPI wallets have been permitted to be part of the interoperable UPI ecosystem.

Source: The Indian Express