Class 07 NPCI & its Products
Transcript of Class 07 NPCI & its Products
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)
Online Mock Tests for Bank, SSC, Railway, JAIIB, CAIIB, Para 13.2 and Others
Visit: test.ambitiousbaba.com