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Option 4 : IIT Madras
The correct answer is IIT Madras.
- Researchers from the Indian Institute of Technology (IIT) Madras will work with members of the Mobile Payment Forum of India (MPFI) to develop voice-based solutions in several vernacular languages in order to increase the country's adoption of digital money transactions.
- According to Indian government figures, there are more than 100 million active Unified Payments Interface (UPI) users every month.
- These initiatives are being taken up by MPFI towards bringing 500 million active users by 2025.
- IIT Madras:
- It is located in Chennai, Tamil Nadu, India.
- Prof. Humayun Kabir, Union Minister for Scientific Research and Cultural Affairs, formally inaugurated the Institute in 1959.
- Mobile Payment Forum of India:
- The Mobile Payment Forum of India (MPFI) is a think tank founded in 2006 by the joint initiative of the Institute for Development and Research in Banking Technology (IDRBT), Hyderabad and Rural Technology Business Incubator (RTBI), IIT Madras in 2006.
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