52-Internet & Mobile Banking
1. Baroda Gift Card can be used for transactions at which of the following?
[A] POS only
[B] POS & Online purchases
[C] POS & BoB ATM
[D] POS & Online purchases & Bob ATM
[B] POS & Online purchases
[C] POS & BoB ATM
[D] POS & Online purchases & Bob ATM
2. Which of the following bank launches India’s first Mobile ATM?
[A] HDFC Bank
[B] Axis Bank
[C] ICICI Bank
[D] SBI
[B] Axis Bank
[C] ICICI Bank
[D] SBI
3. Which of the following bank has launched ‘mVisa’ – a mobile-based payments solution?
[A] SBI
[B] ICICI Bank
[C] HSBC Bank
[D] Canara Bank
[B] ICICI Bank
[C] HSBC Bank
[D] Canara Bank
4. Which of the following is not true about National Electronic Funds Transfer (NEFT) system?
[A] There is no limit on transaction through NEFT
[B] NEFT operates in hourly batches.
[C] NEFT is a payment system which facilitates one-to-one funds transfer.
[D] Only bank branches which are NEFT enabled, can be a part of the NEFT funds transfer network.
[B] NEFT operates in hourly batches.
[C] NEFT is a payment system which facilitates one-to-one funds transfer.
[D] Only bank branches which are NEFT enabled, can be a part of the NEFT funds transfer network.
5. Which of the following is not true about Unified Payments Interface (UPI)?
[A] UPI is an instant payment system developed by the National Payments Corporation of India (NPCI).
[B] Through UPI, all payments are instant and takes place in banking hours.
[C] Under UPI person will have a single identity and password for using multiple bank accounts.
[D] UPI is based on the Immediate Payment Services (IMPS) infrastructure.
[B] Through UPI, all payments are instant and takes place in banking hours.
[C] Under UPI person will have a single identity and password for using multiple bank accounts.
[D] UPI is based on the Immediate Payment Services (IMPS) infrastructure.
6. Which of the following is not true about Mobile Money Identifier (MMID)?
[A] Mobile Money Identifier (MMID) is a seven-digit number, issued by banks for effecting financial
[B] The user’s mobile number MMID are uniquely linked with his bank account number, and is one of the
[C] Both the remitter and the beneficiary are required to have their MMIDs to effect a fund transfer through
[D] A unique MMID and mobile number combination helps in identifying the beneficiary’s details. A single
[B] The user’s mobile number MMID are uniquely linked with his bank account number, and is one of the
[C] Both the remitter and the beneficiary are required to have their MMIDs to effect a fund transfer through
[D] A unique MMID and mobile number combination helps in identifying the beneficiary’s details. A single
7. Which of the following is not true about Payments Bank?
[A] Payments bank can issue ATM/debit cards but not credit cards
[B] Payments Bank can give a loan of up to only Rs 1 lakh.
[C] Initial capital required for a Payments Bank is Rs 100 crore
[D] Payments Bank must maintain Cash Reserve Ration (CRR) as decided by RBI.
[B] Payments Bank can give a loan of up to only Rs 1 lakh.
[C] Initial capital required for a Payments Bank is Rs 100 crore
[D] Payments Bank must maintain Cash Reserve Ration (CRR) as decided by RBI.
8. Which of the following is not true about Immediate Payment Service (IMPS)?
[A] To use IMPS, both the account holder and beneficiary needs to have Mobile Money Identifier (MMID).
[B] Internet Banking Account facilitates IMPS to transfer money to any account.
[C] The facility is provided by National Payments Corporation of India through its existing NFS switch.
[D] IMPS offers an instant, 24X7, interbank electronic fund transfer service through mobile phones.
[B] Internet Banking Account facilitates IMPS to transfer money to any account.
[C] The facility is provided by National Payments Corporation of India through its existing NFS switch.
[D] IMPS offers an instant, 24X7, interbank electronic fund transfer service through mobile phones.
9. Which of the following is not true about Bharat Interface for Money (BHIM) app?
[A] BHIM framework allows its usage without internet also.
[B] Money can also be sent to non-UPI supported banks using IFSC code and account number.
[C] BHIM allows daily transaction limit of Rs 20,000.
[D] Through BHIM app, a maximum of Rs 5,000 is allowed per transaction.
[B] Money can also be sent to non-UPI supported banks using IFSC code and account number.
[C] BHIM allows daily transaction limit of Rs 20,000.
[D] Through BHIM app, a maximum of Rs 5,000 is allowed per transaction.
10. Which one of the following is controlled by the World Wide Web?
[A] Universal banking
[B] Virtual Banking
[C] Wholesale Banking
[D] None of these
[B] Virtual Banking
[C] Wholesale Banking
[D] None of these