Banking Quiz for NABARD Grade-A Exam 2018 | 19th March 2018

Dear Aspirants,

Banking Quiz

Banking Awareness for NABARD Grade-A Exam 2018

With the increased competition in the field of banking examinations, it has now become very important to cover up all the sections efficiently. One subject that can help you bagging graceful marks in the minimum time in these examinations is Banking Awareness. Banking Awareness Quiz not only helps you deal with the General Awareness Section of Banking Exams but also, the Personal Interview round of Banking Recruitment.

Q1. UPI-PIN (UPI Personal Identification Number) is a ______ digit pass code you create/set during first time registration with this App. 
(a) 6-8 digits
(b) 2-4 digits
(c) 7-9 digits
(d) 4-6 digits
(e) 3-5 digits

S1. Ans.(d)
Sol. UPI-PIN (UPI Personal Identification Number) is a 4-6 digit pass code you create/set during first time registration with this App. You have to enter this UPI-PIN to authorize all bank transactions.

Q2. ____________ is a one-stop payment platform for all bills providing an interoperable and accessible “Anytime Anywhere” bill payment service to all customers across India with certainty, reliability, and safety of transactions.
(a) BBPS
(b) NPCI
(c) AEPS
(d) NACH
(e) NFS

S2. Ans.(a)
Sol. The Bharat Bill Payment System is a Reserve Bank of India (RBI) conceptualized system driven by National Payments Corporation of India (NPCI). It is a one-stop payment platform for all bills providing an interoperable and accessible “Anytime Anywhere” bill payment service to all customers across India with certainty, reliability, and safety of transactions.

Q3. In which year IMPS was launched by Smt. Shyamala Gopinath? 
(a) 2014
(b) 2006
(c) 2012
(d) 2008
(e) 2010

S3. Ans.(e)
Sol. Immediate Payment Service (IMPS) public launch happened on 22nd November 2010 by Smt. Shyamala Gopinath, DG RBI at Mumbai and this service is now available to the Indian public.

Q4. What is the meaning of "P" in BBPS?
(a) Plan
(b) Pending
(c) Payment
(d) Product
(e) Produce

S4. Ans.(c)
Sol. BBPS stands for Bharat Bill Payment System.

Q5. IMPS provide robust & real-time fund transfer which offers an instant, 24X7, interbank electronic fund transfer service that could be accessed on multiple channels. What is the full form of IMPS?
(a) Immediate Payment System 
(b) Immediate Payment Service 
(c) Immediate Payment Solution
(d) Indian Payment Service 
(e) International Payment Service

S5. Ans.(b)
Sol. Immediate Payment Service (IMPS) public launch happened on 22nd November 2010 by Smt. Shyamala Gopinath, DG RBI at Mumbai and this service is now available to the Indian public.

Q6. Bharat BillPay transaction can be initiated through multiple payment channels like-
(a) Internet Banking
(b) Mobile-Banking
(c) Point of Sale terminal
(d) Mobile Point of Sale terminal
(e) All of the above

S6. Ans.(e)
Sol. Bharat BillPay transaction can be initiated through multiple payment channels like Internet, Internet Banking, Mobile, Mobile-Banking, POS (Point of Sale terminal), Mobile Wallets, MPOS (Mobile Point of Sale terminal), Kiosk, ATM, Bank Branch, Agents and Business Correspondents.

Q7. Which of the following is not an objective of IMPS?
(a) To facilitate mobile payment systems already introduced in India with the Reserve Bank of India Mobile Payment Guidelines 2008 to be inter-operable across banks and mobile operators in a safe and secure manner
(b) Making payment simpler just without the mobile number of the beneficiary
(c) To enable bank customers to use mobile instruments as a channel for accessing their banks accounts and remit funds
(d) To build the foundation for a full range of mobile-based Banking services
(e) To sub-serve the goal of Reserve Bank of India (RBI) in electronification of retail payments

S7. Ans.(b)
Sol. Objectives of IMPS is given below-
1. To enable bank customers to use mobile instruments as a channel for accessing their banks accounts and remit funds
Making payment simpler just with the mobile number of the beneficiary
2. To sub-serve the goal of Reserve Bank of India (RBI) in electronification of retail payments
3. To facilitate mobile payment systems already introduced in India with the Reserve Bank of India Mobile Payment
4. Guidelines 2008 to be inter-operable across banks and mobile operators in a safe and secured manner
5. To build the foundation for a full range of mobile based Banking services.

Q8. MMID is a ____________ digit unique number issued by the bank upon registration. 
(a) 7 digits
(b) 8 digits
(c) 9 digits
(d) 6 digits
(e) 4 digits

S8. Ans.(a)
Sol. Mobile Money Identifier (MMID) is a seven digit unique number issued by the bank upon registration.

Q9. MMID stands for-
(a) Mobile Money Interface
(b) Mobile Management Identifier
(c) Mobile Money Identifier
(d) Mutual Money Identifier
(e) Mobile Money International

S9. Ans.(c)
Sol. MMID stands for Mobile Money Identifier.

Q10. *99#, a USSD based mobile banking service of NPCI was initially launched in-
(a) November 2010
(b) November 2012
(c) November 2011
(d) November 2013
(e) November 2015

S10. Ans.(b)
Sol. *99#, a USSD based mobile banking service of NPCI was initially launched in November 2012.

Q11. Which System can be used for making bulk transactions towards the distribution of subsidies, dividends, interest, salary, pension etc?
(a) NPCI
(b) YONO
(c) NACH
(d) AEPS
(e) *99#

S11. Ans.(c)
Sol. National Payments Corporation of India (NPCI) has implemented “National Automated Clearing House (NACH)” for Banks, Financial Institutions, Corporates, and Government a web-based solution to facilitate interbank, high volume, electronic transactions which are repetitive and periodic in nature. NACH System can be used for making bulk transactions towards the distribution of subsidies, dividends, interest, salary, pension etc. and also for bulk transactions towards the collection of payments pertaining to telephone, electricity, water, loans, investments in mutual funds, insurance premium etc.

Q12. Which of the following services are available under *99#?
(a) Send Money
(b) Request Money 
(c) Check Balance
(d) Pending Transaction
(e) All of the above
S12. Ans.(e)
Sol. Services are available under *99# are as follows:

1. Send Money – Using this option, the customer can send money to any customer using various options provided.
2. Request Money – Using this option, the customer can collect money by entering UPI ID or Mobile No. of a UPI registered customer.
3. Check Balance – Using this option, the customer can check his/her account balance
4. My Profile – Using this option, the customer can perform transactions such as knowing his/her UPI details, changing the language, managing UPI ID’s and beneficiaries
5. Pending Transaction – Using this option, the customer can check pending UPI requests (if any)
6. Transaction – Using this option, the customer can know about the last 5 transactions performed on UPI

7. UPI PIN – Using this option, the customer can set/change his/her UPI PIN

Q13. What is the full form of NACH?
(a) National Agency Clearing House
(b) National Automated Clearing House
(c) National Automated Checking House
(d) Nominal Automated Clearing House
(e) National Automated Core House

S13. Ans.(b)
Sol. National Automated Clearing House (NACH) is a centralized system, launched with an aim to consolidate multiple ECS systems running across the country and provides a framework for the harmonization of standard & practices and removes local barriers/inhibitors.

Q14. *99# service had limited reach and only two TSPs were offering this service in the beginning. These two TSPs were-?
(a) BSNL and Vodafone
(b) Tata Indicom and Aircel
(c) Airtel and Reliance Jio
(d) MTNL & BSNL
(e) Idea and Vodafone

S14. Ans.(d)
Sol. *99#, a USSD based mobile banking service of NPCI was initially launched in November 2012. The service had limited reach and only two TSPs were offering this service i.e. MTNL & BSNL. Understanding the importance of mobile banking in financial inclusion in general and of *99# in particular, various regulatory/trade bodies came together to ensure on boarding of all TSPs on *99# (USSD 1.0). With the wider ecosystem (11 TSPs), *99# was dedicated to the nation by Hon’ble Prime minister on 28th August 2014, as part of Pradhan Manti Jan Dhan Yojna.

Q15. APB System is developed by NPCI has been helping the Government and Government Agencies in making the Direct Benefit Transfer scheme. what is the meaning of "B" in APB?
(a) Bridge
(b) Base
(c) Banking
(d) Basic
(e) Boost

S15. Ans.(a)
Sol. NACH’s Aadhaar Payment Bridge (APB) System, developed by NPCI has been helping the Government and Government Agencies in making the Direct Benefit Transfer scheme a success.




    


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