RRB Officer Scale-2 & RRB PO FA Classes

@06:00 PMClass 07NPCI & its Products

TOPICWISE MCQS DISCUSSION

Q.1. NPCI was incorporated under section ___ of Companies Act, 2013

a. 5

b. 8

c. 7

d. 9

Q.2. NPCI was established in which year?

a. 2004

b. 2006

c. 2008

d. 2010

Q.3. NPCI was promoted by which of the following?

a. GoI

b. RBI

c. SIDBI

d. SEBI

Q.4. How many Core promoters in NPCI?

a. 10

b. 15

c. 5

d. 20

Q.5 What is the Authorised Capital of NPCI?

a. 1 bn

b. 2 bn

c. 3 bn

d. 5 bn

NPCI : National Payment Corporation of India

• Under Section 8 of Companies Act, 2013

• Estd.: 2008

• HQ: Mumbai

• MD & CEO: Dilip Asbe

• Non Executive Chairman: Biswamohan Mahapatra

• Promoted by RBI

• Ten core Promotors: SBI, BoB, BoI, PNB, Canara Bank, Union Bank

of India, HDFC, ICICI, Citi Bank, HSBC

• Authorised Capital: Rs. 3 bn

• Paid-up capital: Rs. 1 bn

Q.6 In UPI, U stands for

a. Unit

b. Unique

c. Unified

d. Union

Q.7. Who is the regulator of UPI?

a. SEBI

b. GoI

c. RBI

d. SIDBI

Q.8. UPI was introduced in which year?

a. 2014

b. 2016

c. 2018

d. 2015

Q.9. Which of the following are not the market of UPI?

a. Bhutan

b. Malaysia

c. Singapore

d. Qatar

Q.10. IN VPA, V stands for

a. Very

b. Various

c. Virtual

d. Volume

Q.11. As on April 2020, how many banks are linked to UPI?

a. 21

b. 216

c. 25

d. 220

Q.12. What is the maximum limit for BHIM UPI transaction in a 24

hours?

a. 20000

b. 40000

c. 1 lakh

d. 2 lakh

UPI : Unified Payment Interface

• Developer : NPCI

• Launched: on 11 Apr, 2016

• Virtual Payment Address

• Different Banks launched their own UPI

• Airtel Thanks – Airtel Payment Bank

• Amazon Pay – Axis Bank

• BHIM – NPCI

• GooglePay – Axis Bank, HDFC, ICICI & SBI

• Mi- Pay – ICICI Bank

• Mobikwik – HDFC Bank

PhonePe – Yes Bank, ICICI Bank & Axis Bank

Samsung Pay – Axis Bank

Whatsapp Pay – ICICI, HDFC, Axis, SBI & Jio Payment Bank

Q.12. In BHIM, B stands for

a. Bhartiya

b. Bharat

c. Behtar

d. None of these

Q.13. UPI 2.0 was launched on

a. 15 Aug 2018

b. 16 Aug 2018

c. 15 Oct 2018

d. 16 Oct 2018

BHIM : BHARAT INTERFACE FOR MONEY

• By NPCI

• On 30 Dec, 2016

• Languages : 20

• Min amount : Rs. 1

• Max : Rs.40000 per transaction

Max : Rs. 40000 per day

Ist bank to levy charges : Kotak Mahindra Bank

Q.14. In MICR, C stands for?

a. Customer

b. Consider

c. Character

d. Company

Q.15. Last 3 digit of MICR represent

a. Bank name

b. Branch Name

c. City

d. State

Q.17. How many digit is in MICR?

a. 7

b. 8

c. 9

d. 11

MICR : Magnetic Ink Character Reader/ Recognition

• 9 Digit Numeric Code

First 3 Digit : City

Next 3 Digit : Bank

Last 3 Digit : Branch

• Two ways :

1. In Cheque Clearing

2. In Electronic Clearing System (ECS)

Q.18. In CTS, T stands for

a. Transaction

b. Terminal

c. Truncation

d. Time

Q.19. CTS was introduced in which year?

a. 2010

b. 2015

c. 2019

d. 2017

Q.20. In NACH, A stands for

a. Automatic

b. Automated

c. Alternative

d. Auto

National Automated Clearing House (NACH)

• NACH System can be used for making bulk transactions towards

distribution of subsidies, dividends, interest, salary, pension etc.

and also for bulk transactions towards collection of payments

pertaining to telephone, electricity, water, loans, investments in

mutual funds, insurance premium etc

Q.21. Which of the following is used as the largest network of

shared automated teller machines (ATMs) in India.

a. AePS

b. NFS

c. IIN

d. LEI

Q.22 In NFS, S stands for

a. Switch

b. System

c. Society

d. Seller

NFS: National Financial Switch

• Founded: 2004

• By NPCI

• is the largest network of shared automated teller machines (ATMs)

in India

Q.23 Rupay Card was introduced in which year?

a. 2014

b. 2015

c. 2016

d. 2017

Q.24 Including India, Rupay Card is in how many markets?

a. 6

b. 7

c. 9

d. 10

Rupay Card :

• Started : 2014

• By NPCI

• 6 countries: Singapore, Bhutan, Maldives, Saudi Arabia, UAE,

Bahrain

Q.25 In AePS, A stands for

a. Auto

b. Aadhar

c. Automated

d. Alternative

Q.26 Which of the following is/ are required for AePS?

a. IIN (Issuer Identification Number)

b. Aadhaar Number

c. Fingerprint captured during their enrolment

d. All of the above

Aadhar Enabled Payment System (AePS)

• Micro ATM (PoS)

• Requirement: IIN (Issuer Identification Number)

Aadhaar Number

Fingerprint captured during their enrolment

• Facilities : Cash Withdrawal

Cash Deposit

Balance Enquiry

Aadhaar to Aadhaar Fund Transfer

Mini Statement

Best Finger Detection

Q.27 How many digit is in IIN?

a. 4

b. 6

c. 8

d. 9

Q.28. How many digit in LEI?

a. 15

b. 20

c. 25

d. 30

IIN (Issuer Identification Number) :

• First 6 Digit of Debit/ Credit Card

Legal Entity Identifier (LEI) : 20 Digit Code

For Businessman to trace transaction

Q.29 BBPS was recommended by which committee?

a. Narsimhan

b. Nagarajan

c. Padmanabhan

d. Thorat

Q.30 BBPS was introduced in which year?

a. 2011

b. 2012

c. 2013

d. 2014

Q.31 In BBPSCU, C stands for

a. Centre

b. Central

c. Cent

d. None of these

Bharat Bill Payment System (BBPS)

• By NPCI

• Recommendation : G. Padmanabhan Committee (on GIRO or

payment system)

• 5 Payment: DTH, Telecom, Electricity Bill, Gas & Water Bill

• Launched: in 2013

• Integrated Bill Payment System in India

• Two Function :

BBPSCU : BBPS Central Unit : under NPCI

BBPSOU : BBPS Operating Unit : by Bank or Non- bank (vendors)

Bill Generation

GIRO: Govt. Internal Revenue Order

Q.32 In USSD, U stands for

a. Unique

b. Unstructured

c. Unit

d. Unitary

Bharat QR Code:

• By NPCI, Mastercard & Visa

• Launched : Sept, 2016

• Common for all gateways

USSD : Unstructured Supplementary Service Data :

• Introduced by NPCI

• In 2014

• On NUUP : National Unified USSD Platform

• Code : *99#

• Limit : Rs.5000 per transaction

• Charges : 50 paise per minute

Q.33 In QSAM, M stands for

a. Mapping

b. Mapper

c. Map

d. None of these

Q.34 National Common Mobility Card was launched on

a. 2017

b. 2018

c. 2019

d. 2020

Q.35 Who is the manager of NCMC?

a. Ministry of Finance

b. NPCI

c. MoHUA

d. Ministry of Corporate Affairs

Q.36 In IMPS, I stands for

a. Interbank

b. Inter

c. Income

d. Incoming

Q.37 IMPS is recommended by which committee?

a. Shymala Gopinathan

b. Ranagarajan

c. S. Janakiraman

d. None of these

Q.27 In IMPS, I stands for

a. Interbank

b. Inter

c. Income

d. Incoming

IMPS : Immediate/ Interbank Mobile Payment Services

• Started : 2010 by NPCI

• Recommendation : Shymla Gopinathan Committee

• 7 Digit Mobile code : MMID

• Mobile Money Identifier

RTGS : Real Time Gross Settlement

Min amount: Rs. 2 Lakh

Max : No limit

2. NEFT : National Electronic Fund Transfer

Timing : 24*7

Min & Max : No limit

Charges : No charges

Available : in India & Nepal

Indo- Nepal Remittance Agreement

Max : 2 lakh in 1 transaction

IFSC : Indian Financial System Code

• 11 Digit Alpha Numeric Digit

• First 4 Alphabet : Bank name

• Next Digit : 0 – Control or function

• Next 3 Digit : Location

• Next 3 Digit : Branch Name

SWIFT : Society for Worldwide Interbank Financial Transaction

• Estd.: 1973

• HQ: Brussels, Belgium

• 8 to 11 Alpha Code

• First 4 code : Bank

• Next 2 code : Country

• Next 2 code: Location

• Next 3 code: Branch name (Optional)

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