Which of the following is a most likely consequence of implementing the 'Unified Payments Interface (UPI)'?

Which of the following is a most likely consequence of implementing…

Mobile wallets will not be necessary for online payments.
Digital currency will totally replace the physical currency in about two decades.
FDI inflows will drastically increase.
Direct transfer of subsidies to poor people will become very effective.

Answer

(a) UPI is an interoperable bank-to-bank payment system; unlike closed/semi-closed mobile wallets, it lets users pay directly from bank accounts through a mobile app. Hence, for online payments, a separate mobile wallet is most likely not necessary. Verdict: Correct.
(b) UPI is only a payment interface; it does not imply that digital currency will totally replace physical currency within two decades. This is speculative. Verdict: Incorrect.
(c) Better digital payments may improve ease of doing business, but saying FDI inflows will drastically increase is not a direct or most likely consequence of UPI. Verdict: Incorrect.
(d) Direct Benefit Transfer mainly depends on the JAM trinity/Aadhaar-bank account linkage and government transfer architecture; UPI is not the core mechanism for subsidy transfer. So this is not the most likely consequence asked here. Verdict: Incorrect.