NPCI Products — Set 9
Banking · NPCI उत्पाद · Questions 81–90 of 90
Which of the following is the first 24/7 instant interbank fund transfer service in India?
Correct Answer: B. IMPS
IMPS was launched in 2010 as India's first 24/7 real-time payment system. It allows immediate transfer of funds using mobile, internet, or ATM channels. It paved the way for more advanced systems like UPI.
What is the full form of RuPay, the Indian card network?
Correct Answer: A. Rupee Payment
The name RuPay is a combination of two words: 'Rupee' and 'Payment'. It was launched by NPCI to promote a domestic and cost-effective card network. Today, it has become a globally recognized brand for India.
Which NPCI system is used for bulk salary and pension distribution by institutions?
Correct Answer: A. NACH
NACH (National Automated Clearing House) is specifically designed for high-volume electronic transactions. It is used by both government and private organizations for recurring payments. It provides a standardized framework for bulk interbank clearing.
Which system allows a customer to withdraw cash from any bank's ATM using their debit card?
Correct Answer: B. NFS
National Financial Switch (NFS) is the technical network that links ATMs of different banks. It allows for interoperability, meaning a customer of one bank can use another bank's machine. This is one of the most basic and vital products of NPCI.
The Unified Payments Interface (UPI) allows fund transfer using which unique identifier?
Correct Answer: D. Virtual Payment Address (VPA)
VPA is a user-created unique ID that serves as an alias for a bank account in UPI. It enables secure and easy transactions without needing to reveal account details. This feature has made UPI highly user-friendly and secure.
What is the primary technology behind the working of the AePS system?
Correct Answer: B. Aadhaar authentication and Biometrics
AePS works on Aadhaar authentication using fingerprints or iris scans. It allows bank customers to perform transactions at Micro ATMs operated by business correspondents. This system is a pillar of the financial inclusion drive in rural India.
Which system is used for electronic toll collection at highway plazas across India?
Correct Answer: A. NETC (FASTag)
The National Electronic Toll Collection (NETC) system, commonly known as FASTag, uses RFID technology. It allows automatic toll payment from a linked account as the vehicle passes. This project was developed by NPCI to make highways more efficient.
Which subsidiary of NPCI is responsible for international expansion and partnership?
Correct Answer: C. NPCI International Payments Limited (NIPL)
NIPL is a wholly-owned subsidiary of NPCI established to take Indian payment solutions to foreign markets. it works on the cross-border acceptance of UPI and RuPay. This is a major step in making India a global fintech hub.
What is the standard name of the NPCI platform for integrated bill payments?
Correct Answer: D. BBPS
Bharat Bill Payment System (BBPS) is the integrated platform for all kinds of bill payments. it provides a common infrastructure for utility bills, fees, and more. BBPS offers multiple payment channels and instant confirmation to the user.
Which product of NPCI is an image-based clearing system for cheques?
Correct Answer: D. CTS
Cheque Truncation System (CTS) is the digital clearing of cheques using electronic images. It stops the physical movement of paper cheques between banks. This has reduced the time needed for funds to be cleared from cheques.