2025 · Q112
Which one among the following statements about Project Nexus is correct?
General KnowledgeIndian Economy
- AIt is an international agreement to enable labour movement between countries.
- BIt is an international initiative to enable instant cross-border retail payments.
- CIt is an international initiative to transfer technology between countries.
- DIt is an international agreement to create database on financial inclusion.
Explanation
Project Nexus is a Bank for International Settlements (BIS) initiative to interlink domestic fast-payment systems so as to enable instant cross-border retail payments. The RBI joined it in 2024, linking UPI with the fast-payment systems of Malaysia, the Philippines, Singapore and Thailand. It has nothing to do with labour movement, technology transfer or financial-inclusion databases.