NPCI Products — Set 5
Banking · NPCI उत्पाद · Questions 41–50 of 90
Which product of NPCI allows users to send money to a mobile number that is linked to a bank account?
Correct Answer: D. UPI
Unified Payments Interface (UPI) allows for fund transfers using just a mobile number if the recipient has registered it with a UPI app. This eliminates the need to remember long account numbers and IFSC codes. It is the most common way to perform peer-to-peer (P2P) transfers today.
What is the primary role of the 'NPCI Bharat BillPay Limited' (NBBL)?
Correct Answer: D. Operating and managing the integrated bill payment platform
NBBL is the dedicated subsidiary for managing the Bharat Bill Payment System (BBPS). It provides a standardized platform for billers and payment service providers to interact. Its goal is to make all utility and service bill payments accessible through a single interface.
Which NPCI system is used for 'Aadhaar Pay', allowing merchants to receive payments using a customer's fingerprint?
Correct Answer: A. AePS
BHIM Aadhaar Pay is built on the Aadhaar Enabled Payment System (AePS) platform. It allows merchants to accept payments from customers using their Aadhaar number and biometric authentication. This is particularly useful for customers who do not carry a mobile phone or a card.
What does the acronym 'NETC' stand for in the highway tolling context?
Correct Answer: B. National Electronic Toll Collection
NETC stands for National Electronic Toll Collection, which powers the FASTag program in India. It is a nationwide interoperable system for toll collection on national highways. It helps in making toll plazas cashless and reducing the travel time for commuters.
Which NPCI product is used by companies to distribute monthly salaries directly to employees' bank accounts?
Correct Answer: B. NACH
NACH (National Automated Clearing House) is the standard system for bulk and repetitive electronic transfers. It is used by large organizations for credit activities like salary, pension, and dividend distribution. It provides a robust and secure framework for automated high-volume clearing.
What is the unique identifier for a bank account in a UPI transaction that looks like an email ID?
Correct Answer: B. VPA
A Virtual Payment Address (VPA) is a unique identifier used to send or receive money on the UPI platform. It maps the user's bank account to a simple name, allowing transactions without sharing sensitive bank details. For example, 'rahul@upi' could be a VPA.
Which NPCI product is a riverine and land-based cheque clearing mechanism?
Correct Answer: D. CTS
The Cheque Truncation System (CTS) is the electronic clearing of cheques. It replaces the physical paper cheque with its electronic image for processing at various stages. This has significantly reduced the clearing cycle time from several days to T+1 day.
Which of the following describes 'e-RUPI'?
Correct Answer: D. A contactless digital payment voucher
e-RUPI is a contactless, digital voucher-based payment solution. It is delivered as a QR code or SMS string to the mobile of a specific person for a specific purpose. It is widely used for government health and welfare benefits distribution.
What is the name of the clearing house for Aadhaar-based payments managed by NPCI?
Correct Answer: A. Aadhaar Payment Bridge
The Aadhaar Payment Bridge (APB) system acts as a repository and clearing house for Aadhaar-linked payments. It facilitates the flow of funds between government departments and the bank accounts of beneficiaries. This system is the backbone of the DBT program in India.
Which technology is primarily used for 'Contactless' payments on RuPay cards?
Correct Answer: D. NFC
Near Field Communication (NFC) is the technology that enables contactless 'tap and pay' features on RuPay cards. It allows users to make payments by simply holding their card near a compatible POS terminal. This makes the checkout process faster and more convenient for small-value transactions.