Digital Payments in India | UPI, AEPS, BBPS, NEFT vs RTGS, IMPS Explained | UGC NET Economics 2025

Описание: Boost your UGC NET Economics 2025 prep with this crisp, exam-centered explanation of Digital Payment Systems in India, part of Indian Monetary & Banking Institutions – Unit 21.

This topic is asked repeatedly in:
✔ Banking & financial system
✔ Digital economy
✔ NPCI-related PYQs
✔ Match-the-following questions

📘 What You Will Learn:
🔹 UPI – Unified Payments Interface

• Instant fund transfer
• Uses UPI ID / virtual payment address

🔹 AEPS – Aadhaar Enabled Payment System

• Aadhaar-linked cashless transactions
• Biometrics authentication

🔹 BBPS – Bharat Bill Payment System

• Centralised bill payment platform
• Online + offline bill settlement

🔹 NEFT vs RTGS

• NEFT: hourly batches, no minimum limit
• RTGS: real-time, gross settlement, min ₹2 lakh

🔹 IMPS – Immediate Payment Service
• 24×7 instant interbank payments
Perfect for quick revision + guaranteed PYQ scoring!

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