What are the services available under IMPS? A. Funds Transfer and Remittances B. Merchant Payments C. NUUP D. Both (A) and (B) E. All of the Above

What are the services available under IMPS? A. Funds Transfer and Remittances B. Merchant Payments C. NUUP D. Both (A) and (B) E. All of the Above
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E. All of the Above Explanation: The services available under IMPS are Funds Transfer and Remittances Merchant Payments NUUP QSAM
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In NUUP, a customer can access banking services by just pressing ________ from his/her mobile phones. A. *999# B. #*99# C. *99# D. 1*99# E. None of the Above

Description : In NUUP, a customer can access banking services by just pressing ________ from his/her mobile phones. A. *999# B. #*99# C. *99# D. 1*99# E. None of the Above

Last Answer : C. *99# Explanation: In NUUP, a customer can access banking services by just pressing *99# from his/her mobile phones. This service works across all GSM mobile handsets.

An unbanked customer can initiate IMPS transaction using the services of _______. A. PPI B. PCI C. PFI D. PDI E. None of the Above

Description : An unbanked customer can initiate IMPS transaction using the services of _______. A. PPI B. PCI C. PFI D. PDI E. None of the Above

Last Answer : A. PPI Explanation: An unbanked customer can initiate IMPS transaction using the services of Pre-Paid Payments instrument issuer (PPI).

How are sub post offices kept in funds? a) By drawing from the treasury in the case of SO situated at treasury station b) By remittances from another SO c) By remittances from the HO d) All the above

Description : How are sub post offices kept in funds? a) By drawing from the treasury in the case of SO situated at treasury station b) By remittances from another SO c) By remittances from the HO d) All the above

Last Answer : d) All the above

Money transfer through mobile is called __________. (1) IFSC (2) ATM (3) IMPS (4) IFS

Description : Money transfer through mobile is called __________. (1) IFSC (2) ATM (3) IMPS (4) IFS 

Last Answer : IMPS

A) PayUmoney Explanation: It can allow even the smallest of merchants to start accepting card based payments. It can accept all credit/debit cards. The POS terminal is easy to set up, can be operated using a pre- or post-paid SIM, and does away with the use of paper receipts—making it cost & battery effective, and, of course, very environment friendly. With a simple and hassle-free documentation policy, a merchant can start using a PayUmoney POS terminal within 48 hours of signing up for the service.

Description : A) PayUmoney Explanation: It can allow even the smallest of merchants to start accepting card based payments. It can accept all credit/debit cards. The POS terminal is easy to set up, can be ... , a merchant can start using a PayUmoney POS terminal within 48 hours of signing up for the service.

Last Answer : Which of the following company launched “Receive and Win” campaign for Ramzan? A) Mobikwik B) Freecharge C) Paytm D) MoneyGram E) Udio

_________ service helps user in knowing their Aadhaar Seeding status with their bank account. A. WAP B. QSAM C. NUUP D. Both (A) and (B) E. Both (B) and (C)

Description : _________ service helps user in knowing their Aadhaar Seeding status with their bank account. A. WAP B. QSAM C. NUUP D. Both (A) and (B) E. Both (B) and (C)

Last Answer : B. QSAM Explanation: QSAM (Query Service on Aadhaar Mapper) – This service helps user in knowing their Aadhaar Seeding status with their bank account

Which of the following is a USSD based mobile banking service from NPCI that brings together all the Banks and Telecom Service Providers?. A. WAP B. QSAM C. NUUP D. Both (A) and (B) E. Both (B) and (C)

Description : Which of the following is a USSD based mobile banking service from NPCI that brings together all the Banks and Telecom Service Providers?. A. WAP B. QSAM C. NUUP D. Both (A) and (B) E. Both (B) and (C)

Last Answer : C. NUUP Explanation: NUUP (National Unified USSD Platform) is a USSD based mobile banking service from NPCI that brings together all the Banks and Telecom Service Providers.

How many remittances can be received by a single individual beneficiary under the scheme during a year? A. 40 B. 45 C. 40 D. 35 E. 30

Description : How many remittances can be received by a single individual beneficiary under the scheme during a year? A. 40 B. 45 C. 40 D. 35 E. 30

Last Answer : E. 30 Explanation: Thirty remittances can be received by a single individual beneficiary under the scheme during a calendar year.

What is the full form of NUUP? A. National Unified USSD Protocol B. National Unitied USSD Platform C. National Unitied USSD Protocol D. National Unified USP Platform E. National Unified USSD Platform

Description : What is the full form of NUUP? A. National Unified USSD Protocol B. National Unitied USSD Platform C. National Unitied USSD Protocol D. National Unified USP Platform E. National Unified USSD Platform

Last Answer : E. National Unified USSD Platform Explanation: NUUP – National Unified USSD Platform

_________ is a way of transferring personal remittances from abroad to beneficiaries in India A. RDA B. MTSS C. Both (A) and (B) D. All of the Above E. None of the Above

Description : _________ is a way of transferring personal remittances from abroad to beneficiaries in India A. RDA B. MTSS C. Both (A) and (B) D. All of the Above E. None of the Above

Last Answer : B. MTSS Explanation: Money Transfer Service Scheme (MTSS) is a way of transferring personal remittances from abroad to beneficiaries in India. Only inward personal remittances into India such as ... known as Indian Agents who would disburse funds to beneficiaries in India at ongoing exchange rates.

A collection of non-bank financial intermediaries that provide services similar to traditional commercial banks is known as _________ A. Off-shore Banking B. Investment Banking System C. Shadow Banking System D. Conventional Banking E. Merchant Banking System

Description : A collection of non-bank financial intermediaries that provide services similar to traditional commercial banks is known as _________ A. Off-shore Banking B. Investment Banking System C. Shadow Banking System D. Conventional Banking E. Merchant Banking System

Last Answer : C. Shadow Banking System Explanation: A shadow banking system refers to the financial intermediaries involved in facilitating the creation of credit across the global financial system but ... oversight. The shadow banking system also refers to unregulated activities by regulated institutions.

_______ is an integrated bill payment system which will offer inter operable bill payment service to customers online as well as through a network of agents on the ground. A. BBPS B. IMPS C. AEPS D. APBS E. None of the Above

Description : _______ is an integrated bill payment system which will offer inter operable bill payment service to customers online as well as through a network of agents on the ground. A. BBPS B. IMPS C. AEPS D. APBS E. None of the Above

Last Answer : A. BBPS Explanation: The Bharat Bill Payment System (BBPS) is a RBI mandated system which will offer integrated and interoperable bill payment services to customers across geographies with certainty, reliability and safety of transactions.

The records of exports and imports in goods and services and transfer payments is known as a) Current account b) Budget surplus c) Economic leakage d) degree of openness

Description : The records of exports and imports in goods and services and transfer payments is known as a) Current account b) Budget surplus c) Economic leakage d) degree of openness

Last Answer : a) Current account

What annuity can individuals choose to invest purchase payments from a range of investment options which are typically mutual funds?

Description : What annuity can individuals choose to invest purchase payments from a range of investment options which are typically mutual funds?

Last Answer : variable annuity

The_______ of an office will ordinarily be a sum equal to the average _________multiplied by the number of days in which funds can be obtained, plus a percentage of the average ___________(if necessary), as a margin – the amount of which will depend upon the extent of the difference between the receipts and payments, and other considerations a) Minimum cash balance , daily payments, daily payments a) Maximum cash balance , daily payments, daily payments a) Minimum cash balance , daily payments, daily receipts a) None of these

Description : The_______ of an office will ordinarily be a sum equal to the average _________multiplied by the number of days in which funds can be obtained, plus a percentage of the average ___________(if ... payments, daily payments a) Minimum cash balance , daily payments, daily receipts a) None of these

Last Answer : a) Minimum cash balance , daily payments, daily payments

Which statement is true? 1) The balance of payments depends on the principle of double-entry accounting. 2) Decrease in assets and increase in liabilities of net worth represent credits or sources of funds. 3) The balance of payment is a source- and uses of funds statement that reflects changes in assets, liabilities and net worth during a specified period of time. A. Only 1 B. Only 2 C. Only 3 D. 1, 2 and 3

Description : Which statement is true? 1) The balance of payments depends on the principle of double-entry accounting. 2) Decrease in assets and increase in liabilities of net worth represent credits or sources of funds. 3) The balance of ... period of time. A. Only 1 B. Only 2 C. Only 3 D. 1, 2 and 3

Last Answer : D. 1, 2 and 3

The Aadhaar-Enabled Payment Systems(AEPS) is a bank led model that facilitates banking facilities by allowing transactions at Point of Sale through the Business Correspondent (BC) using the Aadhaar authentication number. Aadhaar enabled basic types of banking do not include A. Balance Enquiry B. Cash Withdrawal C. Online Payment D. Cash Deposit E. Aadhaar to Aadhaar funds transfer

Description : The Aadhaar-Enabled Payment Systems(AEPS) is a bank led model that facilitates banking facilities by allowing transactions at Point of Sale through the Business Correspondent (BC) using the Aadhaar ... . Cash Withdrawal C. Online Payment D. Cash Deposit E. Aadhaar to Aadhaar funds transfer

Last Answer : C. Online Payment Explanation: Services Offered by AEPS: Balance Enquiry Cash Withdrawal Cash Deposit Aadhaar to Aadhaar Fund Transfer Gateway Authentication Services

Which of the following is the mode of settlement of securities wherein the transfer of securities and funds happen simultaneously? A. Delivery versus Payment (DvP) B. Duration C. Convexity D. All of the Above E. None of the Above

Description : Which of the following is the mode of settlement of securities wherein the transfer of securities and funds happen simultaneously? A. Delivery versus Payment (DvP) B. Duration C. Convexity D. All of the Above E. None of the Above

Last Answer : A. Delivery versus Payment (DvP) Explanation: Delivery versus Payment (DvP) is the mode of settlement of securities wherein the transfer of securities and funds happen simultaneously. ... securities are not delivered and vice versa. DvP settlement eliminates the settlement risk in transactions.

In the NetBill’s protocol for small payments for services available in the internet. (i) the customer is charged only when the information is delivered (ii)the vendor is guaranteed payment when information is delivered (iii) the customer must have a certified credit card (iv) the customer must have a valid public key a. i, ii b. i, ii, iii c. i, ii, iii, iv d. i, ii, iv

Description : In the NetBill's protocol for small payments for services available in the internet. (i) the customer is charged only when the information is delivered (ii)the vendor is guaranteed payment when information is delivered  (iii) the customer ... , ii b. i, ii, iii c. i, ii, iii, iv d. i, ii, iv 

Last Answer : d. i, ii, iv

The Switching Elements are also called as ………. A. host B. subnet C. Interface Message Processors (IMPs) D. both a and b

Description : The Switching Elements are also called as ………. A. host B. subnet C. Interface Message Processors (IMPs) D. both a and b

Last Answer : C. Interface Message Processors (IMPs)

Which of the following services is NOT provided by the post offices in India ? A. Savings Bank Scheme B. Retailing of Mutual Funds C. Sale of stamp Papers (Judicial) D. Issuance of Demand Drafts E. Life Insurance cover

Description : Which of the following services is NOT provided by the post offices in India ? A. Savings Bank Scheme B. Retailing of Mutual Funds C. Sale of stamp Papers (Judicial) D. Issuance of Demand Drafts E. Life Insurance cover

Last Answer : D. Issuance of Demand Drafts Explanation: Issuance of Demand Drafts is NOT provided by the post offices in India.

As per the Reserve Bank of India, BBPS will initially accept utility bill payments such as _________ A. Telephone Bill B. Electricity Bill C. DTH services D. All of the Above E. None of the Above

Description : As per the Reserve Bank of India, BBPS will initially accept utility bill payments such as _________ A. Telephone Bill B. Electricity Bill C. DTH services D. All of the Above E. None of the Above

Last Answer : D. All of the Above Explanation: As per the Reserve Bank of India, BBPS will initially accept utility bill payments such as electricity, water, gas, telephone and direct-to-home services and will later include other repetitive payments including school and university fees and municipal taxes.

Which of the following surrendered their “in-principle” to launch payments banks? A. Cholamandalam Distribution Services B. Dilip Shanghvi, Sun Pharmaceuticals C. Tech Mahindra D. All of the Above E. None of the Above

Description : Which of the following surrendered their “in-principle” to launch payments banks? A. Cholamandalam Distribution Services B. Dilip Shanghvi, Sun Pharmaceuticals C. Tech Mahindra D. All of the Above E. None of the Above

Last Answer : D. All of the Above Explanation: Three of the 11 entities have surrendered their licenses. They are ―Chalomandalam Distribution Services‖, ―Dilip Shanghvi, Sun Pharmaceuticals‖ and ―Tech Mahindra‖.

Committee on Comprehensive Financial Services for Small Businesses and Low Income Households, headed by ________ recommended the formation of a new category of bank called payments bank. A. NR Madhawan Menon B. Bimal Jalan C. Nachiket Mor D. Y.H. Melagam E. None of the Above

Description : Committee on Comprehensive Financial Services for Small Businesses and Low Income Households, headed by ________ recommended the formation of a new category of bank called payments bank. A. NR Madhawan Menon B. Bimal Jalan C. Nachiket Mor D. Y.H. Melagam E. None of the Above

Last Answer : C. Nachiket Mor Explanation: Committee on Comprehensive Financial Services for Small Businesses and Low Income Households, headed by Nachiket Mor recommended the formation of a new category of bank called payments bank.

MO Videsh is a new offering of India post to facilitate remittances to a) Within India b) Foreign countries c) Both a anb b d) None of these

Description : MO Videsh is a new offering of India post to facilitate remittances to a) Within India b) Foreign countries c) Both a anb b d) None of these

Last Answer : b) Foreign countries

The NEFT system facilitates ____cross-border transfer of funds from India to Nepal which is known as the Indo-Nepal Remittance Facility Scheme. A. One Way B. Two Way C. Multi way D. None of the Above

Description : The NEFT system facilitates ____cross-border transfer of funds from India to Nepal which is known as the Indo-Nepal Remittance Facility Scheme. A. One Way B. Two Way C. Multi way D. None of the Above

Last Answer : A. One Way Explanation: The NEFT system also facilitates one-way cross-border transfer of funds from India to Nepal. This is known as the Indo-Nepal Remittance Facility Scheme. A remitter can ... account with a bank branch in Nepal or not. The beneficiary would receive funds in Nepalese Rupees.

In National Electronic Funds Transfer (NEFT) maximum amount per transaction is limited to ________ A. Rs.75000 B. Rs.50000 C. Rs.80000 D. Rs.90000

Description : In National Electronic Funds Transfer (NEFT) maximum amount per transaction is limited to ________ A. Rs.75000 B. Rs.50000 C. Rs.80000 D. Rs.90000

Last Answer : B. Rs.50000 Explanation: No. There is no limit - either minimum or maximum - on the amount of funds that could be transferred using NEFT. However, maximum amount per transaction is ... -based remittances within India and also for remittances to Nepal under the Indo-Nepal Remittance Facility Scheme.

In which of the following fund transfer mechanisms, can funds be moved from one bank to another and where the transaction is settled instantly without being bunched with any other transaction? A. RTGS B. NEFT C. TT D. EFT

Description : In which of the following fund transfer mechanisms, can funds be moved from one bank to another and where the transaction is settled instantly without being bunched with any other transaction? A. RTGS B. NEFT C. TT D. EFT

Last Answer : A. RTGS Explanation: In RTGS, the beneficiary branches are expected to receive the funds in real time as soon as funds are transferred by the remitting bank. The beneficiary bank has to credit the beneficiary‘s account within 30 minutes of receiving the funds transfer message.

How do I get merchant services?

Description : How do I get merchant services?

Last Answer : You can find information on merchant services and credit card processing at http://www.merchantservices.com/. You can also view the top 10's at http://credit-card-processing-review.toptenreviews.com/.

Which of the following particulars should also be furnished on the reverse of the daily account. a) Details of remittances received and sent from or to HO or other SO b) Particulars of UCR , UCP, bills paid , reason for holding cash/stamp below minimum or excess maximum c) Requisition for postage entered in remarks column d) All documents sent to along with the daily account e) All the above

Description : Which of the following particulars should also be furnished on the reverse of the daily account. a) Details of remittances received and sent from or to HO or other SO b) Particulars of UCR , UCP, ... entered in remarks column d) All documents sent to along with the daily account e) All the above

Last Answer : e) All the above

In the original ARPANET,_______ were directly connected together. A) IMPs B) host computers C) networks D) routers

Description : In the original ARPANET,_______ were directly connected together. A) IMPs B) host computers C) networks D) routers

Last Answer : IMPs

Which of the following software enables real-time or near-real-time communication? A. Focusware B. Collaborative C. Cooperative D. IMPS

Description : Which of the following software enables real-time or near-real-time communication? A. Focusware B. Collaborative C. Cooperative D. IMPS

Last Answer : Collaborative

Which of the following protocol is not an Internet Engineering Task Force standard? a) SIP b) SIMPLE c) XMPP d) IMPS

Description : Which of the following protocol is not an Internet Engineering Task Force standard? a) SIP b) SIMPLE c) XMPP d) IMPS

Last Answer : IMPS

Which of the following protocol is adopted for interoperability by top three IM service providers?a) SIP b) SIMPLE c) XMPP d) IMPS

Description : Which of the following protocol is adopted for interoperability by top three IM service providers?a) SIP b) SIMPLE c) XMPP d) IMPS

Last Answer : SIMPLE

Which country received the most remittances in the financial year 2018-19 ?

Last Answer : Most remittances came from Saudi Arabia in FY 2018-19.

Remittances from a branch office to its account office are either sent by post or through carrier eg. a) Postmen b) Village postmen c) Overseer’s. d) Any one of them

Description : Remittances from a branch office to its account office are either sent by post or through carrier eg. a) Postmen b) Village postmen c) Overseer’s. d) Any one of them

Last Answer : d) Any one of them

What arrangements exit for the disposal of surplus collection at SO? a) By drawing to the treasury in the case of SO situated at treasury station b) By remittances to another SOc) By remittances to the HOd) All the above

Description : What arrangements exit for the disposal of surplus collection at SO? a) By drawing to the treasury in the case of SO situated at treasury station b) By remittances to another SO c) By remittances to the HO d) All the above

Last Answer : d) All the above

Mark the correct option remittances sent by post a) When a remittance is to be sent by post, the money should be placed in Leather cash bag and cash sealed by treasure. b) The remittance advice and acknowledgement dispatch inside of Regd bag. c) When remittances is to be sent in charge of a special carrier, the amount should be made over to the carrier and he should be required to grant a receipt for the same in treasurer cash book. d) All the above

Description : Mark the correct option remittances sent by post a) When a remittance is to be sent by post, the money should be placed in Leather cash bag and cash sealed by treasure. b) The remittance advice and ... he should be required to grant a receipt for the same in treasurer cash book. d) All the above

Last Answer : d) All the above

________are employed in each division for the supervision of the runner’s lines, the work of village postmen or postmen serving in villages, and when prescribed by the_______, for the conveyance or escort of_______, from one office to another a) Head postman , head of the Circle, cash remittances b) Overseers , Supdt of post office, cash remittances c) Overseers , head of the Circle, cash remittances d) None of these

Description : ________are employed in each division for the supervision of the runner's lines, the work of village postmen or postmen serving in villages, and when prescribed by the_______, for the conveyance or ... office, cash remittances c) Overseers , head of the Circle, cash remittances d) None of these

Last Answer : c) Overseers , head of the Circle, cash remittances

An NBFC-MFI is defined as a non-deposit taking NBFC (other than a company licensed under Section 25 of the Indian Companies Act, 1956) with Minimum Net Owned Funds of ________ A. Rs.5 crore B. Rs.4 crore C. Rs.3 crore D. Rs.2 crore E. None of the Above

Description : An NBFC-MFI is defined as a non-deposit taking NBFC (other than a company licensed under Section 25 of the Indian Companies Act, 1956) with Minimum Net Owned Funds of ________ A. Rs.5 crore B. Rs.4 crore C. Rs.3 crore D. Rs.2 crore E. None of the Above

Last Answer : A. Rs.5 crore Explanation: Non Banking Financial Company – Micro Finance Institutions (NBFC-MFIs) licensed under Section 25 of the Indian Companies Act, 1956) with Minimum Net Owned Funds of Rs.5 crore.

The banks will be licensed as payments banks under ______ of the Banking Regulation Act, 1949. A. Section 21 B. Section 22 C. Section 23 D. Section 24 E. None of the Above

Description : The banks will be licensed as payments banks under ______ of the Banking Regulation Act, 1949. A. Section 21 B. Section 22 C. Section 23 D. Section 24 E. None of the Above

Last Answer : B. Section 22 Explanation: The payment banks will be licensed as payments banks under Section 22 of the Banking Regulation Act, 1949 and will be registered as public limited company under the Companies Act, 2013.

................. uses electronic means to transfer funds directly from one account to another rather than by cheque or cash? (A) M-Banking (B) E-Banking (C) O-Banking (D) C-Banking

Description : ................. uses electronic means to transfer funds directly from one account to another rather than by cheque or cash? (A) M-Banking (B) E-Banking (C) O-Banking (D) C-Banking

Last Answer : (B) E-Banking

_________ is used for merchant transactions under the Payment Card Industry Data Security Standard. a) ClearPoint PCI b) ClearSoln c) Rackserve PCI d) All of the mentioned

Description : _________ is used for merchant transactions under the Payment Card Industry Data Security Standard. a) ClearPoint PCI b) ClearSoln c) Rackserve PCI d) All of the mentioned

Last Answer : ClearPoint PCI

C) MyGov Explanation: The cabinet on June 1, 2016, gave its nod to setting up of the IPPB under the Department of Posts. The Department of Post wants to connect with and involve the people of India in designing the DNA of the India Post Payments Bank. So it launched this contest. The contest is open to all Indian citizens, institutions, agencies and entities for a period of one month, until July 9, 2016.

Description : C) MyGov Explanation: The cabinet on June 1, 2016, gave its nod to setting up of the IPPB under the Department of Posts. The Department of Post wants to connect with and involve the people of ... all Indian citizens, institutions, agencies and entities for a period of one month, until July 9, 2016.

Last Answer : To provide loans to Indo-Spanish joint ventures and local enterprises in India, State Bank of India (SBI) has signed a memorandum of agreement with Spain‟s which bank to enhance business synergies? A) Caja Madrid B) CaixaBank C) Liberbank D) Gallego bank E) None of these

Which of the following can issue commercial paper for raising short term funds? A. Corporates B. Primary Dealers C. All-India Financial Institutions D. Both (B) and (C) E. All of the Above

Description : Which of the following can issue commercial paper for raising short term funds? A. Corporates B. Primary Dealers C. All-India Financial Institutions D. Both (B) and (C) E. All of the Above

Last Answer : E. All of the Above Explanation: A Commercial Paper (CP) is an unsecured money market instrument issued as a promissory note. It is a short-term funding tool that highly rated ... -India financial institutions (AIFIs) can use, typically to meet shortterm funding and working capital requirements.

Which of the following economic concepts is categorised on the basis of Current Account or Capital Account or both? A. Balance of Payments B. Value of the food grain stock of a country C. Gross National Product D. Gross National Income(GNI) E. Total collection of Direct Taxes in a year

Description : Which of the following economic concepts is categorised on the basis of Current Account or Capital Account or both? A. Balance of Payments B. Value of the food grain stock of a country C. Gross National Product D. Gross National Income(GNI) E. Total collection of Direct Taxes in a year

Last Answer : A. Balance of Payments Explanation: A Balance of payments statements is a summary of a nation‘s total economic transactions undertaken on international account. It is usually composed of two sections :-

What is Electronic Funds Transfer ?

Description : What is Electronic Funds Transfer ?

Last Answer : In modern computer system money transfer is done quickly through telephone and data network , it is called electronic fund transfer.

how do I set up electronic funds transfer?

Description : how do I set up electronic funds transfer?

Last Answer : how do I set up electronic funds transfer

Which one is not the form of FDI A. Purchase of existing assets in foreign currency.B. New Investment in Property, planet and equipment. C. Making investment is the mutual funds D. Transfer of many type of asset

Description : Which one is not the form of FDI A. Purchase of existing assets in foreign currency.B. New Investment in Property, planet and equipment. C. Making investment is the mutual funds D. Transfer of many type of asset

Last Answer : Purchase of existing assets in foreign currency.