NPCI Products — Set 4
Banking · NPCI उत्पाद · Questions 31–40 of 90
Which of the following describes the 'Virtual Payment Address' (VPA) in UPI?
Correct Answer: B. A unique ID used to send or receive money without sharing bank account details
VPA is a unique identifier (like an email ID) that is linked to a user's bank account for UPI transactions. It allows users to perform transactions without sharing sensitive information like bank account numbers or IFSC codes. A typical VPA looks like 'username@bankname'.
What is the primary benefit of the 'Aadhaar Payment Bridge' (APB) system?
Correct Answer: A. Faster and direct transfer of government benefits into bank accounts
The APB system enables the government to transfer subsidies and benefits directly into the Aadhaar-linked bank accounts of citizens. This removes intermediaries and ensures that the money reaches the correct person instantly. It is the backbone of the Direct Benefit Transfer (DBT) scheme.
Which NPCI product is used for cash withdrawal and balance enquiry at 'Micro ATMs'?
Correct Answer: B. AePS
AePS allows customers to use their Aadhaar number and fingerprint to perform basic banking tasks at Micro ATMs. These Micro ATMs are usually operated by business correspondents in rural areas. This system is essential for reaching the unbanked population.
The National Electronic Toll Collection (NETC) system is also referred to as?
Correct Answer: C. FASTag
FASTag is the brand name for the NETC system, which uses a passive RFID tag on a vehicle's windshield. It enables automatic toll collection from the linked prepaid or bank account at toll plazas. This technology has been made mandatory for all vehicles in India.
What is the main advantage of using the 'BHIM' app over other third-party UPI apps?
Correct Answer: D. It is the official app developed by NPCI ensuring high security
BHIM is the official mobile application for UPI payments developed directly by the NPCI. Being the reference app, it often features the latest security updates and a very simple user interface. It ensures a direct and secure interface for users to interact with the UPI platform.
Which NPCI system handles the processing of 'e-Sign' for electronic document verification?
Correct Answer: A. AePS
While not a standalone payment product, the Aadhaar platform (which AePS is based on) enables 'e-Sign' for legally valid digital signatures. AePS uses the same biometric authentication infrastructure for verifying a user's identity. This allows citizens to sign documents digitally using their Aadhaar number.
The 'Bharat BillPay' logo signifies which of the following characteristics?
Correct Answer: C. Certainty, reliability, and safety in bill payments
The Bharat BillPay brand is a mark of trust that guarantees a secure and reliable bill payment experience. It ensures that the payment made by a customer is settled accurately with the service provider. The logo serves as a standard for quality in the integrated bill payment ecosystem.
Which bank was the first to go live with the IMPS service in 2010?
Correct Answer: B. State Bank of India
State Bank of India along with a few other banks were the pioneers in launching IMPS in 2010. IMPS was the first 24/7 instant fund transfer service introduced by NPCI. It initially started with a focus on mobile banking users.
What does the abbreviation 'NFS' stand for in the NPCI portfolio?
Correct Answer: C. National Financial Switch
NFS stands for National Financial Switch, which is the largest network of shared ATMs in India. It enables interoperability between various banks' ATMs, allowing a customer to withdraw cash from any bank's machine. It is a critical component of India's retail banking infrastructure.
Which system manages the electronic presentation and payment of invoices for businesses?
Correct Answer: C. BBPS
Bharat Bill Payment System (BBPS) is designed to handle electronic bill presentations and payments. It brings transparency to the billing process by allowing customers to view their current bills before making a payment. It is increasingly being used for B2B invoice payments as well.