Banking Awareness Quiz for Bank Exams 2021- 3rd May

Q1. NPCI Stands for……………….
(a) National Payments Company of India
(b) National Payments Corporation of India
(c) National Payments Corporation of International
(d) National Product Company of India
(e) None of these

Q2. Which organization is an umbrella organization for all retail payments system in India?
(a) SIDBI
(b) NABARD
(c) RBI
(d) NPCI
(e) None of these

Q3. The payment and settlement system in India is regulated as per which act?
(a)NPCI Act 2001
(b)RBI Act 1935
(c)PSS Act 2009
(d)Payment and Settlement Systems Act, 2007
(e)None of these

Q4. Who is the current Managing Director and Chief Executive Officer of NPCI?
(a) Dilip Asbe
(b) M Balachandran
(c) Somesh Gupta
(d) Vineet Giri
(e) None of these

Q5. NPCI has been incorporated under ______ of Companies Act 2013.
(a)Section 10
(b)Section 15
(c) Section 25
(d) Section 8
(e)None of these

Q6. There are how many core promoter banks of NPCI?
(a)15
(b)7
(c)10
(d)11
(e)8

Q7. When the NPCI was incorporated as a Section 25 company under the Companies Act 1956?
(a)December 2011
(b)January 2009
(c)December 2008
(d)December 2007
(e)None of these

Q8. Which of the following is not the product developed by NPCI?
(a)National Financial Switch
(b)Indian bill payment system
(c)Bharat interface for Money
(d)National automated clearing house
(e)None of these

Q9. Which institute has developed the payment platform RuPay?
(a)NIC
(b)RBI
(c)National Payment Corporation of India
(d)IRDAI
(e)None of these

Q10. Choose the different one from the following payment processing platforms in India?
(a)VISA
(b)Rupay
(c)Master card
(d)American express
(e)None of these

Practice More Questions of Banking Awareness for Competitive Exams:

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Solutions

S1.Ans(b)
Sol. NPCI Stands for National Payments Corporation of India.

S2.Ans(d)
Sol. NPCI is an umbrella organization for all retail payments system in India.

S3.Ans(d)
Sol. In India, the payment and settlement systems are regulated by the Payment and Settlement Systems Act, 2007 (PSS Act).

S4.Ans(a)
Sol. Mr. Dilip Asbe is the MD & CEO of National Payments Corporation of India (NPCI). Prior to this he was the Chief Operating Officer (COO) of NPCI.

S5.Ans(d)
Sol. Founded in December 2008, the NPCI is a not-for-profit organisation registered under Section 8 of the Companies Act 2013, established by the Reserve Bank of India and Indian Banks’ Association.

S6.Ans(c)
Sol. The ten core promoter banks are State Bank of India, Punjab National Bank, Canara Bank, Bank of Baroda, Union Bank of India, Bank of India, ICICI Bank, HDFC Bank, Citibank and HSBC.

S7.Ans(c)
Sol. National Payments Corporation of India (NPC)I was incorporated in December 2008. The company has been incorporated as a Section 25 company under The Companies Act 1956, is now under Section 8 of The Companies Act, 2013.

S8.Ans(b)
Sol. Indian bill payment system is not the product developed by NPCI.

S9.Ans(c)
Sol.National Payment Corporation of India has developed the payment platform RuPay.

S10.Ans(b)
Sol. Rupay platform is developed in India whereas all other platforms are foreign platforms.

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