A committee set up by the RBI has recommended multiple interoperable QR codes. Currently, there are _______ types of QR codes operating in the country.
Answer with explanationAnswer: Option C
A committee set up by the Reserve Bank of India to review QR code-based payments has recommended that more payments system providers should make these codes interoperable. As part of its recommendations, the committee said that a closed loop QR codes, which only work within the ecosystem of one payment provider, will hold back the adoption of this means of payment.Currently, there are three types of QR codes operating. Bharat QR, Unified Payments Interface QR and proprietary QR codes. The committee recommended that the RBI must encourage use of interoperable QR codes such as the Bharat QR and UPI QR.
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