Banking Awareness Questions (Payment System Based) for IBPS Clerk Mains 2017

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Banking Awareness Questions for IBPS Clerk Mains 2017
Banking Awareness for IBPS Exam 2017

Just a few days are left for IBPS Clerk Mains. It is time to pace up your preparation of Banking Awareness for IBPS SO and Clerk Mains. These questions related to Banking Awareness will also help you in preparing for other upcoming banking recruitment examination.

Q1. RTGS is a centralized payment system through which inter bank payment instructions are processed and settled. What is the meaning of "T" in RTGS?
(a) Traded
(b) Travel
(c) Transport
(d) Time
(e) Transit

Q2. What is the Minimum amount limit through RTGS?
(a) Rs 2 lakh
(b) Rs 1 lakh
(c) Rs 4 lakh
(d) Rs 3 lakh
(e) Rs 5 lakh

Q3. NEFT is a nation-wide funds transfer system which facilitates fund transfer from any bank’s branch to any other bank’s branch. NEFT stands for-
(a) Nominal Electronic Funds Transfer 
(b) National Essential Funds Transfer 
(c) National Electronic Financial Transfer 
(d) National Electronic Funds Traded
(e) National Electronic Funds Transfer

Q4. Which payment settlements happen in batches?
(a) RTGS
(b) NEFT
(c) MTSS
(d) AEPS
(e) UPI

Q5. What is the Minimum amount limit through NEFT?
(a) Rs 1 lakh
(b) Rs 3 lakh
(c) No limit
(d) Rs 2 lakh
(e) Rs 4 lakh

Q6. ________ is a payment system which uses Aadhar card number and an individuals online UIDAI authentication, which are linked to a customers Bank account. 
(a) RTGS
(b) NEFT
(c) MTSS
(d) AEPS
(e) UPI

Q7. What is the maximum amount of transaction per account per day through AEPS?
(a) Rs 10,000
(b) Rs 50,000
(c) Rs 30,000
(d) Rs 1,00,000
(e) Rs 1,000

Q8. AEPS transactions are normally conducted by BCs service centres. BCs stands for-
(a) Business Commercial
(b) Business Condition
(c) Branch Correspondents
(d) Banking Correspondents
(e) Business Correspondents

Q9. __________ system of money transfer for transferring personal remittances from abroad to beneficiaries in India.
(a) RTGS
(b) NEFT
(c) MTSS
(d) AEPS
(e) UPI

Q10. Amounts up to __________ may be paid in cash to a beneficiary in India through MTSS. 
(a) Rs 50,000
(b) Rs 25,000
(c) Rs 75,000
(d) Rs 1,00,000
(e) Rs 1,50,000

Q11. How many remittances can be received by a single individual beneficiary under the MTSS during a calendar year?
(a) 30
(b) 40
(c) 50
(d) 60
(e) 70

Q12. MTSS stands for-
(a) Money Transfer Service Send
(b) Money Transfer Service Scheme
(c) Money Transfer Service Solutions
(d) Money Transfer System Scheme
(e) Money Transaction Service Scheme

Q13. What is the full form of AEPS?
(a) AADHAR Enabled Payment Service
(b) AADHAR Enabled Payment Scheme
(c) AADHAR Enabled Payment System
(d) AADHAR Enabled Payment Solution
(e) AADHAR Enabled Product System

Q14. Nepal Remittance Scheme is a cross-border one-way remittance facility scheme for remittance from India to Nepal,  enabled under the NEFT Scheme. A remitter can transfer funds up to Indian Rupees ______ (maximum permissible amount) from any of the NEFT-enabled branches in India.
(a) Rs 2,00,000
(b) Rs 1,00,000
(c) Rs 1,50,000
(d) Rs 50,000
(e) Rs 2,50,000

Q15. An originator in India is allowed to remit a maximum of ______ remittances in a year under the Nepal Remittance Scheme.
(a) 42
(b) 10
(c) 24
(d) 18
(e) 12