With regard to the progress of Digital Payments in India, which of the following statement/statements is/are valid ?

I Promotion of Digital Payments has been transferred from the Ministry of Electronics and Information Technology (MeitY) to the Department of Financial Services.

II. e-RUPI is an institution-based voucher management system instead of being person and purpose specific.

III. 'Hello! UPI' is an AI voice-enabled payment feature built by a consortium of private sponsored startups recognised by the NPCI.

IV. 'UPI LITE X' addresses challenges of remote areas by enabling offline UPI payments.

Select the correct answer using the codes given below:

Key Points

• Promotion of Digital Payments has been transferred from the Ministry of Electronics and Information Technology (MeitY) to the Department of Financial Services.
• UPI LITE X addresses challenges of remote areas by enabling offline UPI payments.
• These initiatives are part of the Government of India's broader strategy to promote digital transactions and financial inclusion.
• Such measures are aimed at making digital payments more accessible and convenient, particularly in underserved areas.

Additional Information

• e-RUPI
  • e-RUPI is a cashless and contactless digital payment solution launched by the Government of India.
  • It is a QR code or SMS string-based e-voucher, which is delivered to the mobile of the beneficiaries.
  • e-RUPI connects the sponsors of the services with the beneficiaries and service providers in a digital manner without any physical interface.
  • This ensures that the payment to the service provider is made only after the transaction is completed.
  • It is person and purpose-specific, meaning it can only be used by the intended beneficiary for the specific purpose for which it was issued.
• Hello! UPI
  • Hello! UPI is an AI voice-enabled payment feature.
  • It is designed to make digital transactions more accessible and user-friendly.
  • This feature allows users to initiate and complete transactions using voice commands.
  • It is recognized and supported by the National Payments Corporation of India (NPCI).
• UPI LITE X
  • UPI LITE X is an extension of the Unified Payments Interface (UPI) system.
  • It is designed to facilitate offline UPI payments.
  • This feature is particularly useful in remote areas where internet connectivity is limited.
  • UPI LITE X ensures that digital transactions can be carried out smoothly even in such challenging environments.