Which of the following institutions received the Digital Payments Award 2024-25 for its contribution to inclusive banking in rural India?
Which of the following institutions received the Digital Payments Award 2024-25 for its contribution to inclusive banking in rural India?
Solution
The India Post Payments Bank was awarded for its exceptional work in leveraging the postal network to bring digital banking to remote and rural areas.
The National Payments Corporation of India builds the infrastructure for digital payments like UPI but is not a direct rural banking institution.
The State Bank of India is the largest public sector bank but was not the specific recipient of this rural inclusion award for the period.
The Reserve Bank of India is the central regulatory authority that oversees the banking system rather than a retail banking service provider.
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