Question
the functioning of the national payment system depends on ?
1. NPS ACT
2. POC ACT
3. CONSUMMER PROTECTION ACT
4. FAIS ACT
1. NPS ACT
2. POC ACT
3. CONSUMMER PROTECTION ACT
4. FAIS ACT
Answers
GPT-4o mini
The functioning of the national payment system primarily depends on the **NPS Act** (National Payment System Act). This act typically establishes the regulatory framework for payment systems, ensuring their safety, efficiency, and effectiveness.
The other acts mentioned, such as the POC Act (Protection of Consumers Act), Consumer Protection Act, and FAIS Act (Financial Advisory and Intermediary Services Act), focus on different aspects of consumer protection, financial services, and advisory practices, but they do not specifically govern the national payment system.
So, the correct answer is **1. NPS ACT**.
The other acts mentioned, such as the POC Act (Protection of Consumers Act), Consumer Protection Act, and FAIS Act (Financial Advisory and Intermediary Services Act), focus on different aspects of consumer protection, financial services, and advisory practices, but they do not specifically govern the national payment system.
So, the correct answer is **1. NPS ACT**.