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September 09, 2016

General & Banking Awareness Quiz for Bank Exams

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  1. New Governor of RBI is __________
    1. N.Viswanathan
    2. Rakesh Mohan
    3. Arundhathi Bhattacharya
    4. Urjith Patel
    5. Subhir Gokarn
  2. On 25 August 2016 UPI launched by RBI which revolutionize peer to peer payments in
    the country, a step closer towards becoming a cashless economy. UPI stands for  __________
    1. United Payments Interface
    2. Unified Pay Interface
    3. Unique Payments Interface
    4. Union Payments Interface
    5. Unified Payments Interface
  3. Which of the following statements is wrong related to Unified Payments Interface (UPI) ?
    1. Currently in order to make payments in online, account number, account type, Bank name and IFSC code etc must be entered.
    2. But once UPI introduced, interface allow account holders across banks to send and receive money from their smart phones using just their Aadhaar number, mobile number or virtual payments address with-out entering bank account details.
    3. This facility not available to private banks.
    4. To initiate a transaction one can use two types of address - global or local. The bank provides Virtual address similar to e-mail ID.
    5. Virtual address will allow, sending and receiving money from multiple banks and prepaid payment issuers is possible. 
  4. The RBI has allowed only banks to become Payment Service Providers of UPI service and the Mobile wallets are worrying that their prominence may go away. In this context, which of the following is example for Mobile wallet ?
    1. Paytm
    2. Freecharge
    3. Mobikwik
    4. Oxigen
    5. All of above are the Mobile wallets 
  5. PhonePe, a Flipkart Group company and which bank launched UPI-based payment APP ?
    1. Yes Bank
    2. ICICI Bank
    3. Andhra Bank
    4. Bank of India
    5. Bank of Baroda 
  6. The benefit of UPI (Unified Payments Interface) system of transfer of money is
    1. immediate money transfer through mobile device round the clock 24 X 7 and 365 days.
    2. single mobile application for accessing different bank accounts.
    3. scheduling PUSH and PULL Payments for various purposes.
    4. barcode (Scan and Pay) based payments
    5. All of above are the unique benefits of UPI.
  7. Which of the following statement is correct relating to the benefit for the banks, once UPI introduced ?
    1. Universal Application for transaction
    2. Payment basis Single/ Unique Identifier
    3. Possibility of seamless merchant transactions
    4. Single click two factor authentication
    5. All of above 
  8. Which of the following statement is correct relating to the benefit for the Merchants, once UPI introduced ?
    1. Suitable for e-Com & m-Com transaction
    2. Tap customers not having credit/ debit
    3. Seamless fund collection from customers - single identifiers
    4. No risk of storing customer's virtual address like in Cards
    5. All of above
  9. Which of the following statement is correct relating to the benefit for the Merchants, once UPI (Unified Payments Interface) introduced ?
    1. Use of Virtual ID is more secure, no credential sharing
    2. Single click authentication
    3. Single Application for accessing different bank accounts
    4. Raise complaint from Mobile App directly
    5. All of above 
  10. The UPI supports which of the following transactions/ Services ?
    1. It can do Pay Request. It means initiating customer is pushing funds to the intend-ed beneficiary.
    2. Collect Request is possible. It is a trans-action where the customer is pulling funds from the intended remitter by using Virtual ID.
    3. Generating OTP (One Time Password)
    4. Generate/ change PIN
    5. All of above transactions/ services available in UPI 
  11. Till now IMPS (Immediate Payment Service) is the faster mode of transfer of money. What is the additional benefit of UPI (Unified Payments Interface) ?
    1. Single click two factor authentication
    2. Provides for a P2P Pull functionality
    3. Single APP for money transfer
    4. Simplifies Merchant Payments
    5. All of above are the additional benefits of UPI 
  12. What is the present upper limit of fund transfer using UPI ?
    1. Rs.10,000
    2. Rs.50,000
    3. Rs.1 Lakh
    4. Rs.2 Lakh
    5. Rs.10 Lakh 
  13. The details of UPI given. Locate the wrong statement.
    1. Bank customer needs to register with his/ her PSP (Payment Services Provider) before remitting funds using UPI and link his accounts.
    2. Registration of Beneficiary is not required for transferring funds through UPI as the fund would be transferred on the basis of Virtual ID/ Account number and IFSC.
    3. Customer cannot link a wallet to UPI, only bank accounts can be added.
    4. One customer can use more than one UPI application on the same mobile and link both same as well as different accounts.
    5. All of above correct statements 
  14. RBI constituted the Board for Payment and Settlement Systems in ____________
    1. 2008
    2. 2007
    3. 2005
    4. 2011
    5. 2012 
  15. NPCI initiated Unified Payments Interface. NPCI stands for  ____________
    1. National Pay Corporation of India
    2. National Payments Company of India
    3. National Payments Corporation of Initiation
    4. National Payments Corporation of India
    5. Nodal Payments Corporation of India
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