UPSC Prelims Practice Questions — NPCI’s international arm inks pact with Malaysia’s PayNet

Question 1

In the February 2026 NIPL–PayNet agreement, which one of the following is Malaysia's national QR payment standard that has been linked with India's UPI for cross-border merchant payments?

Accepted Answer

DuitNow QR

Answer

PromptPay QR

Answer

QRIS

Answer

PayNow QR

Question 2

The National Payments Corporation of India (NPCI), the parent of NIPL which signed the 2026 pact with PayNet, has been set up as an umbrella organisation for retail payments under which one of the following statutes?

Accepted Answer

The Payment and Settlement Systems Act, 2007

Answer

The Reserve Bank of India Act, 1934

Answer

The Banking Regulation Act, 1949

Answer

The Information Technology Act, 2000

Question 3

Which one of the following entities is the operational arm that signed the February 2026 cross-border QR payments agreement with Malaysia's PayNet on India's behalf?

Accepted Answer

NPCI International Payments Limited (NIPL)

Answer

Reserve Bank Innovation Hub (RBIH)

Answer

Institute for Development and Research in Banking Technology (IDRBT)

Answer

International Financial Services Centres Authority (IFSCA)

UPSC Prelims Practice Questions — NPCI’s international arm inks pact with Malaysia’s PayNet

Q1. In the February 2026 NIPL–PayNet agreement, which one of the following is Malaysia's national QR payment standard that has been linked with India's UPI for cross-border merchant payments?

Q2. The National Payments Corporation of India (NPCI), the parent of NIPL which signed the 2026 pact with PayNet, has been set up as an umbrella organisation for retail payments under which one of the following statutes?

Q3. Which one of the following entities is the operational arm that signed the February 2026 cross-border QR payments agreement with Malaysia's PayNet on India's behalf?