PYQ Bank — Bank PO / Clerk

The statement about UPI having a fixed limit of ₹1 lakh per transaction is incorrect.

While individual banks may set their own transaction limits, UPI itself does not have a universal maximum limit of ₹1 lakh.

Some banks allow higher transaction limits based on customer verification and risk assessment.

However, the maximum limit is typically determined by individual banks' policies and regulatory guidelines.

Options A, C, and D are all factually correct regarding UPI's development, infrastructure, and operational features.

The Indian government has shown renewed interest in wealth tax as a tool for addressing inequality, supported by improved technology for tax compliance and digital asset tracking.

Wealth tax targets accumulated assets beyond income, making it an important progressive instrument when coupled with robust enforcement mechanisms.

However, implementation challenges related to asset valuation and compliance have made it complex compared to simpler tax instruments.

The 'just transition' concept recognizes that India's rapid shift from coal and fossil fuels to renewables will impact millions of workers and coal-dependent communities, and aims to ensure their livelihoods are protected through reskilling, employment generation, and social support.

This approach balances environmental imperatives with social welfare, acknowledging that climate action cannot succeed if it creates large-scale unemployment and social distress.

It represents a more holistic policy framework that considers both ecological and human dimensions of energy transformation.