Financial And Fintech Services

**Statement 1 is correct:** Under the provisions of the law in India, consumers are indeed empowered to take samples for food testing. This is part of the consumer's right to be informed about the quality, quantity, potency, purity, standard and price of goods or services. **Statement 2 is incorrect:** When a consumer files a complaint in any consumer forum, there is a nominal fee that needs to be paid. This fee is meant to cover administrative costs. **Statement 3 is correct:** In case of the death of a consumer, his/her legal heir can file a complaint in the consumer forum on his/her behalf. This is to ensure that the rights of the consumer are protected, even after their death. Therefore, the correct answer is statements 1 and 3 only.

**Statement 1 is Correct:** The National Payments Corporation of India (NPCI) was established to facilitate retail payments and promote financial inclusion in India. They achieve this by 1. Developing and deploying innovative payment infrastructure like RuPay cards, UPI, etc. 2. Enabling participation of a wider range of players in the payments system, including non-bank entities. 3. Setting standards and guidelines to ensure secure and efficient electronic payments. **Statement 2 is Correct:** RuPay is a domestic debit and credit card payment network launched by NPCI in India. It provides an alternative to international card networks like Visa and Mastercard. This domestic network can potentially lower transaction costs for merchants and banks compared to international schemes. Therefore, both statement 1 and statement 2 are correct. Hence, option C is the correct answer.

The Merchant Discount Rate (MDR) is a fee levied on merchants by payment processors for accepting debit and credit card transactions. It's typically a percentage of the transaction value. So, when a customer uses a debit card at a store, the store pays a fee to the bank that processes the transaction. Hence, option C is the correct answer.