Banking awareness quiz 46 (On payments and settlements )

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Q 1) Which of the following not comes under Types of Payment and Settlement Systems in India ?

Paper Based Payment Systems

Electronic Payment Systems

Gross Settlement System

Direct Settlement System

Q 2) RTGS is a fund transfer mechanism is which the transfer of money/funds takes place from one financial institution to another instantly without any time delay ,What is the full form of RTGS ?

Real Time Gross Settlement

Real Time Grand Settlement

Real Timing Gross Settlement

Real Time Gross Sending.

Q 3) What is the minimum and maximum amount to transfer (in rupees) via Real Time Gross Settlement respectively ?

No limit and No limit

2 lakh and 10 Lakh

2 lakh and No limit

1 lakh and No limit

Q 4) IFSC is an 11 digit alphanumeric code which is unique to each branch of bank , What is the full fom of IFSC ?

Indian Finance System Code

Indian Financial Standard Code

Indian Financial System Code

Indian Financial Systematic Code

Q 5)NEFT is a nation-wide payment system facilitating one-to-one funds transfer , What is the full form of NEFT ?

Net Electric Fund Transfer

National Electric Fund Transfer

Net Electronic Fund Transfer

National Electronic Fund Transfer

Q 6) What is minimum and maximum that can be transfer (in rupees) via NEFT except Nepal respectively ?

2 lakh and No limit

No limit and No limit

2 lakh and 10 lakh

1 lakh and 10 lakh

Q 7) Immediate Payment Service (IMPS) is the mechanism that money can be transferred immediately from one account to another account, within the same bank or accounts across other banks , Which of the following developed the IMPS Scheme ?

National Payments Corporation of India

Reserve Bank of India

Securities exchange board of india

NABARD

Q 8) Mobile Money Identifier is a _____ digit code used to transfer funds though mobile phones.

9 digit

7 digit

11 digit

8 digit

Q 9) MICR Code is a character-recognition technology used mainly by the banking industry to ease the processing and clearance of cheques , What is the full form of MICR ?

Magnetic ink counting recognition

Money ink character recognition

Magnetic ink code for recognition

Magnetic ink character recognition

Q 10) Which of the following is false about MICR code ?

MICR is a 9 digit code

first 3 characters of MICR represets city

MICR code is used for Cheque processings

Last 3 digits of MICR represents bank

Take More Banking Awareness Quizzes from below

• Banking awareness quiz 48(On NI Act & Banks centres classification )
• Banking awareness quiz 47(On NPCI )
• Banking awareness quiz 45(On RBI Part 2)
• Banking awareness quiz 44(On RBI)
• Banking awareness quiz 43(On Bank Loans 4)

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