Banking General Awareness Modern Banking Question Bank

done Practice Questions - Digital Banking Total Questions - 48

• question_answer1)
  Which of the following banks launched EazyPay mobile application for merchants that allows all-in-one acceptance payments platform. It has all digital wallets, QR code, Unified Payments Interface (UPI) and credit & debit cards modes of payments?
  A)
   HDFC Bank                  done clear
  B)
   Axis Bank done clear
  C)
   Yes Bank                      done clear
  D)
   IDFC Bank done clear
  E)
   ICICI Bank done clear
  View Solution play_arrow

• question_answer2)
  Which of the following statements about Bharat QR code is not correct?

  (i) It is a quick response (QR) code mandated by the government to enable digital payments without card swiping machines.

  (ii) It works as a common interface for RuPay cards, MasterCard, Visa and American Express.

  (iii) It provides a solution to the largely closed QR code-based acceptance systems.

  (iv) As a customer, you can do it with even a basic phone.

  A)
   (i) & (ii)                        done clear
  B)
   (iii) & (iv) done clear
  C)
   only (ii)                         done clear
  D)
   only (iv) done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer3)
  BBPS stands for______.
  A)
   Broad Band Plug-in Spectrum done clear
  B)
   Budgeting and Business Planning Security done clear
  C)
   Bharat Bill Product System done clear
  D)
   Bharat Bill Payment System done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer4)
  _________ is a standard format of Bank Identifier Codes (BIC) for banks to identify banks and financial institutions globally,
  A)
   RTGS                           done clear
  B)
   IFSC done clear
  C)
   NEFT                           done clear
  D)
   SWIFT done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer5)
  How many digits are there in CIBIL score?
  A)
   4                                 done clear
  B)
   3 done clear
  C)
   6                                 done clear
  D)
   9 done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer6)
  How many codes are there in SWIFT code?
  A)
   8                                 done clear
  B)
   11 done clear
  C)
   7                                 done clear
  D)
   Both [a] and [b] done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer7)
  E-KYC is possible only for those who have.
  A)
   PAN Card                     done clear
  B)
   Driving License done clear
  C)
   Aadhaar Number           done clear
  D)
   All of the these done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer8)
  Plastic Money' denotes _____?
  A)
   Bearer cheque   done clear
  B)
   Credit card done clear
  C)
   Demand Draft   done clear
  D)
   Traveller's cheque done clear
  E)
   Gift cheque done clear
  View Solution play_arrow

• question_answer9)
  MTSS is a way of transferring personal remittances from abroad to beneficiaries in India. What does MTSS stand for
  A)
   Mobile Transfer Service Scheme done clear
  B)
   Money Transfer System Scheme done clear
  C)
   Money Timing Service Scheme done clear
  D)
   Money Transfer Service Scheme done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer10)
  How much payment can be made in cash to the beneficiary in India under MTSS?
  A)
   Rs. 2, 00,000                done clear
  B)
   Rs. 1, 00,000 done clear
  C)
   Rs. 50,000                    done clear
  D)
   Rs. 55,000 done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer11)
  Conversion of Physical form of share into electronic form is called
  A)
   E- Share                       done clear
  B)
   DEMAT done clear
  C)
   Online Share Card         done clear
  D)
   Internet Trading done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer12)
  Which among the following benefits is/are associated with RuPay?
  A)
   International transactions lead to higher transactions costs. Such costs can be reduced by using RuPay card since processing will be done within the country. done clear
  B)
   Users will get alerts for every transaction made through RuPay Card. done clear
  C)
   Processing fees for RuPay card compared with regular debit/credit cards will be considerably lower. done clear
  D)
   All of the above done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer13)
  MICR code is used for
  A)
   Electronic Clearance of Cheques done clear
  B)
   Electronic Funds Transfer done clear
  C)
   Code Banking Solution done clear
  D)
   Cheque Truncation Services done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer14)
  Which among the following products is not a product of NPCI?
  A)
   Unified Payments Interface (UPI) done clear
  B)
   Bharat Interface for Money (BHIM) done clear
  C)
   Single Euro Payments Area (SEPA) done clear
  D)
   Bharat Bill Payment System (BBPS) done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer15)
  Which card is a new card payment scheme launched by NPCI?
  A)
   Maestro card                 done clear
  B)
   Visa Card done clear
  C)
   Master Card                  done clear
  D)
   RuPay done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer16)
  HDFC Bank has announced its UPI will also be available on Chillr, a multi-bank mobile payments app. What is the meaning of "I" in UPI?
  A)
   Instant              done clear
  B)
   Interface done clear
  C)
   Initial               done clear
  D)
   International done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer17)
  Kerala-based NBFC Manappuram Finance will launch its own co-branded prepaid card in the tie-up with _________ to promote digital financial transactions.
  A)
   Canara Bank done clear
  B)
   HDFC Bank done clear
  C)
   Yes Bank done clear
  D)
   ICICI Bank done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer18)
  IMPS is an instant interbank electronic fund transfer service through mobile phones. IMPS stands for
  A)
   Indian Mobile Payment Service done clear
  B)
   Immediate Payment System done clear
  C)
   Immediate Payment Service done clear
  D)
   Immediate Product Service done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer19)
  A bank or a financial organisation these days relies heavily on e-commerce for its transaction. As a part of system security, it introduces   organisation's   security awareness manual. This step of the bank/ organisation can be classified under which one of the following categories of measures for a business?
  A)
   Detective                      done clear
  B)
   Compliance done clear
  C)
   Corrective                     done clear
  D)
   Preventive vigilance done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer20)
  Which of the following is not e-banking software?
  A)
   PIPS                            done clear
  B)
   MICR done clear
  C)
   RTGS                           done clear
  D)
   ECS done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer21)
  To use smart cards/ debit cards/ credit cards for the purchase of an item or for payment of a service of a merchant's store, the card has to be swiped in a terminal known as:
  A)
   Real time terminal done clear
  B)
   Shopping terminal done clear
  C)
   Point of Sale terminal done clear
  D)
   All of the above done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer22)
  Which of the following statements is/are correct about Ola Money?

  I. It can be used as a credit card to pay cab fare.

  II. It is available on only Android and Windows mobiles.

  A)
   I only               done clear
  B)
   II only done clear
  C)
   Both I and II                 done clear
  D)
   None of these done clear
  View Solution play_arrow

• question_answer23)
  Which of the following statements is/are correct about PhonePe?

  I. It has been launched by Amazon.

  II. It works over Unified Payment Interface.

  III. It allows bank to bank payment transfers using Virtual Payment Address.

  A)
   I only done clear
  B)
   I and II done clear
  C)
   I, II and III done clear
  D)
   II and III done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer24)
  Which of the following operating systems is/are supported by Airtel Money app?
  A)
   Android                        done clear
  B)
   iOS and done clear
  C)
   Windows                       done clear
  D)
   All of the above done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer25)
  Which of the following statements is/are correct about LIME app?

  I. It has been launched by HDFC Bank.

  II. It can be used to apply for home loans.

  III. It can run only on Android platform.

  A)
   III only done clear
  B)
   I and II done clear
  C)
   II and III                       done clear
  D)
   I, II and III done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer26)
  Which of the following apps allows UPI- based payments?
  A)
   ICICI Pockets done clear
  B)
   PhonePe done clear
  C)
   Airtel Money   done clear
  D)
   None of these done clear
  View Solution play_arrow

• question_answer27)
  Which of the following apps is available in 13 Indian languages?
  A)
   PayZapp                       done clear
  B)
   State Bank Buddy done clear
  C)
   LIME                           done clear
  D)
   None of these done clear
  View Solution play_arrow

• question_answer28)
  Which of the following agencies developed the Unified Payments Interface?
  A)
   RBI done clear
  B)
   National Payments Corporation of India done clear
  C)
   Department of Electronics & Information Technology done clear
  D)
   None of these done clear
  View Solution play_arrow

• question_answer29)
  Which of the following channels can be used for transactions with RuPay card?
  A)
   ATMs done clear
  B)
   Point of Sales (PoS) done clear
  C)
   Aadhaar-based micro ATM done clear
  D)
   All of the above done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer30)
  Which of the following statements is/are correct about BHIM app?

  I. The app is inter-operable with Unified Payment interface (UPI) but does not connect directly to your bank account.

  II. There is limit of 50,000 rupees transaction in 24 hours.

  III. It uses Immediate Payment Service (IMPS) system.

  A)
   II only done clear
  B)
   I and III done clear
  C)
   I, II and III done clear
  D)
   II and III done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer31)
  Which of the following statements is/are correct?

  I. In new Unified Payments Interface (UPI) based payment model/ money transfer is possible in send mode only.

  II. There is a limit of Rs. 1 lakh per transaction through the UPI platform.

  A)
   I only                           done clear
  B)
   II only done clear
  C)
   Both I and II done clear
  D)
   None of these done clear
  View Solution play_arrow

• question_answer32)
  Which of the following statements is/are correct about BBPS?

  I. The policy guidelines for the implementation of BBPS were issued by the Reserve Bank of India.

  II. It offers interoperable bill payment ser- vice to customers.

  A)
   I only                           done clear
  B)
   II only done clear
  C)
   Both I and II done clear
  D)
   None of these done clear
  View Solution play_arrow

• question_answer33)
  Which of the following aimed at promoting inter-operable financial inclusion?
  A)
   Aadhaar Enabled Payment System done clear
  B)
   Bharat Interface for Money done clear
  C)
   Digital wallet done clear
  D)
   None of these done clear
  View Solution play_arrow

• question_answer34)
  Which of the following inputs is required for a customer to do a transaction with AEPS?
  A)
   Issuer Identification Number done clear
  B)
   Finger Print done clear
  C)
   Aadhar Number done clear
  D)
   All of the above done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer35)
  Which of the following statements is/are correct about Unified Payment Interface?

  I. It allows a customer to pay directly from a bank account to different merchants using IFSC code.

  II. No charges are applicable for making fund transfer.

  A)
   I only                           done clear
  B)
   II only done clear
  C)
   Both I and II                 done clear
  D)
   None of these done clear
  View Solution play_arrow

• question_answer36)
  Digital Wallets are related to
  A)
   RBI Act, 1934 done clear
  B)
   Banking Regulation Act done clear
  C)
   Payment and Settlement System Act done clear
  D)
   SARFAESI Act done clear
  View Solution play_arrow

• question_answer37)
  Digital signature service has been launched on Aadhaar platform. What is it called?
  A)
   DigiSign Desk    done clear
  B)
   eSignDesk done clear
  C)
   OnlineSign Desk done clear
  D)
   None of these done clear
  View Solution play_arrow

• question_answer38)
  Which of the following is a cultural constraint from the digital marketing macro-environment?
  A)
   Taxation at source of purchase done clear
  B)
   Propensity for consumers to purchase online done clear
  C)
   Opt-in to e-mail required to avoid SPAM done clear
  D)
   Likelihood of fraudulent transactions done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer39)
  Which of the following is not correct about e-commerce?
  A)
   It is a powerful tool for customer relationship building done clear
  B)
   It can help reduce operation costs done clear
  C)
   It increases the net cost per contact done clear
  D)
   It offers greater flexibility in meeting customer needs done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer40)
  Select the option due to which credit theft is impossible with smart card
  A)
   Key to unlock encrypted information required done clear
  B)
   There is no external account number on the card done clear
  C)
   All of the above done clear
  D)
   None of these done clear
  View Solution play_arrow

• question_answer41)
  Which of the following statements is/are correct about PayZapp?

  I. It has been launched by ICICI Bank.

  II. It can run on Android and iOS phones.

  III. It needs to be registered with Aadhar.

  A)
   I and II done clear
  B)
   II and III done clear
  C)
   I, II and III done clear
  D)
   II only done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer42)
  An open source platform for mobile-to- mobile fund transfers without account details launched by NPCI was?
  A)
   Payment Interface done clear
  B)
   Unique Payment Interface done clear
  C)
   Unified Payment Interface done clear
  D)
   People's Payment Interface done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer43)
  Conversion of Physical form of share into electronic form is called-
  A)
   E-Share done clear
  B)
   Online Share Card done clear
  C)
   Internet Trading done clear
  D)
   DEMAT done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer44)
  Which of the following features fit for e-Banking?
  A)
   Providing Ease in banking operations done clear
  B)
   Stress on branchless banking done clear
  C)
   Time Saving done clear
  D)
   All of the above done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer45)
  Which of the following statements is correct with RuPay?

  (i) International transactions lead to higher transactions costs. Such costs can be reduced by using RuPay card since processing will be done within the country.

  (ii) Transactions will be faster.

  (iii) Users cannot get alerts for every transaction made through RuPay Card.

  (iv) Processing fee for RuPay card compared with regular debit/credit cards will be considerably lower.

  A)
   (i) only done clear
  B)
   (i) and (ii) done clear
  C)
   (i), (ii) and (iv) done clear
  D)
   All of the above done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer46)
  NFS is the largest network of shared automated teller machines (ATMs) in India. NFS stands for-
  A)
   National Financial Service done clear
  B)
   National Financial Switch done clear
  C)
   National Financial Stand done clear
  D)
   National Financial Security done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer47)

  (i) e-wallet refers to an electronic, internet based payment system which stores financial value as well as personal identity related information.

  (ii) It requires the use of a physical card for undertaking transactions/remittances.

  (iii) Such electronic payment systems enable a customer to pay online for the goods and services.

  (iv) It also transfers funds to others, by using a mobile or computer.

  A)
   (i) only             done clear
  B)
   (ii) only done clear
  C)
   (i), (iii) & (iv)    done clear
  D)
   All of the above done clear
  E)
   None of these done clear
  View Solution play_arrow

• question_answer48)
  Which of the following challenges fall into the category of mobile banking solutions?

  (i) To offer a common mobile banking solution to various types of devices.

  (ii) Security of financial transactions is the most complicated challenge.

  (iii) The customer may be sitting in any part of the world so banks need to ensure that the systems are up and running in a true \[24\times 7\] fashion.

  A)
   (i) only             done clear
  B)
   (ii) only done clear
  C)
   All of the above done clear
  D)
   None of these done clear
  View Solution play_arrow