With reference to digital payments, consider the following statements :
- 1.BHIM app allows the user to transfer money to anyone with a UPI-enabled bank account.
- 2.While a chip-pin debit card has four factors of authentication, BHIM app has only two factors of authentication.
Which of the statements given above is/are correct ?
Show answer
Answer: A. Statement 1 is correct: BHIM lets users send money to anyone with a UPI-enabled bank account. Statement 2 is wrong: a chip-and-PIN debit card uses two factors (the card and the PIN), not four. So only 1.
Watch for: The comparison in statement 2 sounds technical, but the 'four factors' claim is simply wrong.
Why the other options are wrong
- B. Wrong because a chip-PIN debit card has two factors, not four.
- C. Wrong because statement 2 is false.
- D. Wrong because BHIM does allow transfers to any UPI-enabled account.
Source to check: NPCI official website (npci.org.in), 'BHIM' and 'UPI' product pages
Answer from the official UPSC key. Written and fact-checked by AI against the official key. Spotted a mistake? Report it.