In 2019, RBI launched SRPHi, which stands for:
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A.
Survey on Retail Payment History of India
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B.
Survey on Rural Poor Habitation of India
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C.
Survey on Retail Payment Habits of Indians
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D.
Survey on Retail Payment Habits of Individuals
Correct Answer:
D. Survey on Retail Payment Habits of Individuals
Explanation:
In 2019, the Reserve Bank of India (RBI) introduced the Survey on Retail Payment Habits of Individuals (SRPHi) to analyze how people across various socio-economic groups manage their daily transactions. The initiative targeted 6,000 participants across six major cities, including Delhi, Mumbai, Kolkata, Chennai, Bengaluru, and Guwahati, to gather qualitative data on their preferences for cash versus digital payment methods. By understanding these usage patterns and the level of awareness surrounding digital financial products, the RBI can better develop policies to enhance the security and efficiency of India's retail payment infrastructure.
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