The pilot project for UPI was launched in which year?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 2016.
The Unified Payments Interface (UPI) pilot project was launched on April 11, 2016, under the aegis of the National Payments Corporation of India (NPCI) and with support from the Reserve Bank of India (RBI). The pilot involved 21 participating banks and was initially rolled out among bank employees and select customers to identify and fix technical issues. After successful testing, UPI officially went live for public use on August 25, 2016, marking a pivotal moment in India’s digital payments revolution .