Mobile Money - GS questions based on daily current affairs

1)   What is ‘Mobile Money’?

a. Money that can be transferred and moved easily
b. New currency mechanism for instant payment
c. Mechanism of delivering direct cash benefits
d. Credit cards, ATM cards and Debit cards
Answer  Explanation 

ANSWER: Mechanism of delivering direct cash benefits

Explanation:
Aadhaar registrations include the mobile number of a customer. With several cell phone operators reportedly applying for a payment bank license, mobile money platforms offer tremendous opportunities to direct Aadhaar based transfers.

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