NPCI Products — Set 7
Banking · NPCI उत्पाद · Questions 61–70 of 90
Which NPCI product is used for instant interbank fund transfer through mobile numbers and MMID?
Correct Answer: C. IMPS
IMPS stands for Immediate Payment Service. It was the first 24/7 instant interbank fund transfer service in India. It is highly reliable for urgent money transfers using mobile platforms.
RuPay cards were first launched by NPCI in which year?
Correct Answer: C. 2012
RuPay was officially launched in March 2012 by the National Payments Corporation of India. It is an Indian domestic card scheme developed to provide a lower-cost alternative to international networks. It is a key product for promoting digital payments in India.
Which product of NPCI allows a person to pay for a specific service like vaccination using a digital voucher?
Correct Answer: C. e-RUPI
e-RUPI is a person-specific and purpose-specific digital payment solution. It works as a digital voucher that can be redeemed at specific centers for specific services. It ensures that government benefits reach the intended user for the correct purpose.
What is the full form of NFS in the banking system?
Correct Answer: A. National Financial Switch
National Financial Switch (NFS) is the largest network of shared ATMs in India. It was developed to facilitate inter-bank ATM transactions. It is currently managed and operated by the NPCI.
Which technology is used by FASTag for automatic deduction of toll charges?
Correct Answer: C. RFID
FASTag uses Radio Frequency Identification (RFID) technology. It allows for the automatic deduction of toll charges from the linked account. This helps in reducing queues at toll plazas and saves time.
The Bharat Bill Payment System (BBPS) is an integrated platform for which of the following?
Correct Answer: D. Utility bill payments
BBPS is a centralized system for all types of bill payments like electricity, water, and gas. It offers an interoperable and accessible bill payment service to customers. It is managed by a dedicated subsidiary of NPCI.
Which system uses Aadhaar number and fingerprints for cash withdrawal in rural areas?
Correct Answer: A. AePS
Aadhaar Enabled Payment System (AePS) allows banking transactions through biometric authentication. It is a bank-led model that uses Aadhaar verification to provide services. It is a major tool for financial inclusion in India.
What does NACH stand for in the context of high-volume bulk payments?
Correct Answer: B. National Automated Clearing House
NACH is a web-based solution for bulk and repetitive interbank transactions. It is used by institutions for distributing salaries, dividends, and pensions. It also facilitates the collection of utility bills and loan EMIs.
The Unified Payments Interface (UPI) was launched by NPCI in which year?
Correct Answer: C. 2016
UPI was launched in April 2016 to facilitate instant digital payments. It allows users to link multiple bank accounts to a single mobile app. It has become the most widely used retail payment system in India.
Which of the following is a 24/7 retail payment system for bulk transfers?
Correct Answer: C. NEFT
NEFT (National Electronic Funds Transfer) is a nationwide payment system for one-to-one funds transfer. It now operates 24/7 for all customers. While managed by RBI, it is a key component of the retail payment landscape.