Read the following passage and answer the question :
A cashless society describes an economic state where by financial transactions are not connected with money in the form of physical bank notes or coins but rather through the transfer of digital information between the transaction parties. In India Government has been consistently investing in various reforms for greater financial inclusion. During the least few year an initiatives such as Jan Dhan accounts, Adhar enabled payment system, e-wallets, National Financial switch and others have strengthened the Government resolve to go cashless. Today, financial inclusion is seen as a realistic dream.
What does NFS stands for ?
Answer & explanation
Correct answer: option 3
The correct answer is option (3) : National Financial Switch
In the given passage, it's mentioned that 'National Financial switch" is one of the initiatives the Indian government has undertaken for a cashless economy. Therefore, NFS stands for " National Financial Switch". Hence, the correct answer is (3) National Financial Switch.