Which of the following statements about Unified Payments Interface (UPI) is/are correct?
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UPI is an instant payment system developed by NPCI and regulated by RBI.
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UPI operates independently and is not based on any existing infrastructure.
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Virtual Payment Address (VPA) is used to send and receive money on UPI.
1
1 only
2
2 only
3
3 only
4
1 and 2 only
5
1 and 3 only