National News [Current Affairs]: Questions 19 - 20 of 266

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Question 19

Question MCQ▾

Consider the following statements about RBI՚s Card Tokenization:

(i) With the increase of digital payments, the RBI in 2019 allowed card networks to tokenize card transactions to continue improving the security and safety of card transactions.

(ii) Tokenized card transactions are regarded to be safer since the actual card data are not given to the merchant during transaction processing.

(iii) As per NTT Data Payment Services, Tokenisation is required wherever we are storing our card details for recurring payments.

(iv) Primary Account Number (PAN) or any other card details can be stored by the token requestor.

Which of the statement/statements given above is/are correct?

Choices

Choice (4)Response

a.

i and ii Only

b.

ii and iii Only

c.

i, ii and iii Only

d.

iv Only

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Question 20

Question MCQ▾

Which of the statement/statements given below is/are correct about RBI՚s launch of digital rupee on pilot basis?

(i) The Reserve Bank of India has decided to soon launch Digital Rupee on pilot basis for limited use.

(ii) CDBC is the Central Bank Digital Currency.

(iii) The concept note further discusses key considerations such as technology and design choices, issuance mechanisms, possible uses of Digital Rupee, etc.

(iv) Earlier in 2022, the finance minister in her 2022 - 23 budget speech had announced the launch of the Digital Rupee, a digital currency backed by the central bank.

Choices

Choice (4)Response

a.

i and ii Only

b.

i and iii Only

c.

i and iv Only

d.

All a., b. and c. are correct

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