Which among the following is not correct?

The correct answer is Unilateral Payment Interface.

Key Points

• The correct acronym for UPI is Unified Payments Interface, not Unilateral Payment Interface.
• UPI is a real-time payment system developed by the National Payments Corporation of India (NPCI).
• It facilitates instant money transfer between two bank accounts using a mobile platform.
• UPI allows multiple bank accounts to be accessed through a single mobile application, providing a seamless and unified user experience.

Additional Information

• Asian Pacific Postal Union (APPU)
  • APPU is an intergovernmental organization of 32 member countries in the Asia-Pacific region.
  • It aims to promote and improve postal services in the region through cooperation and collaboration.
  • APPU headquarters is located in Bangkok, Thailand.
  • It works closely with the Universal Postal Union (UPU) to enhance postal services globally.
• Bharat Interface for Money (BHIM)
  • BHIM is a mobile payment app developed by the National Payments Corporation of India (NPCI).
  • The app is based on the Unified Payments Interface (UPI) and facilitates e-payments directly through banks.
  • It was launched on 30th December 2016 as part of the Digital India initiative.
  • BHIM allows users to make simple, easy, and quick payment transactions using UPI.
• Budget Estimation, Allocation & Monitoring System (BEAMS)
  • BEAMS is an online computerized system developed for budget estimation, allocation, and monitoring.
  • It aims to enhance transparency and efficiency in the management of government finances.
  • The system is used by various government departments to manage and monitor their budgetary allocations.
  • BEAMS helps in ensuring that funds are appropriately allocated and utilized as per the plans and policies.