Dear Readers, Here we have provided the Important Banking Awareness Quizzes based on particular topic, which will help to understand and prepare in a better way. Candidates those who are preparing for upcoming IBPS/SBI Exams 2018 can make use of it.
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- Unified Payments Interface (UPI) is a digital payment architecture rolled out by __________
a) Reserve Bank of India
b) State Bank of India
c) Securities and Exchange Board of India
d) National Payments Corporation of India
e) None of these
- In which year Unified Payments Interface was launched?
a) 2015
b) 2016
c) 2014
d) 2017
e) None of these
- Unified Payments Interface (UPI) is a system that powers ________________
a) single bank accounts into a multiple mobile application
b) multiple bank accounts into a multiple mobile application
c) multiple bank accounts into a single mobile application
d) single bank accounts into a single mobile application
e) None of these
- UPI works only on __________
a) Mobile/Tablet
b) Computer/laptop
c) Both Mobile and Computer
d) Telephones
e) None of these
- Unified Payments Interface is regulated by _____________
a) NABARD
b) State Bank of India
c) SEBI
d) IRDAI
e) None of these
- The limit on transaction through UPI system is _____________
a) 25000
b) 50000
c) 100000
d) 200000
e) None of these
- What are the working hours for UPI?
a) Only on working days
b) 24×7, 365 days
c) Only working hours time on working days
d) All days except Sunday
e) None of these
- Unified Payments Interface eliminates the need to share your _______________
a) Name
b) Bank Account
c) IFSC Code
d) Bank branch
e) All of the above
- UPI can also be used to send a request for money, like ___________
a) Invoice
b) Receipt
c) Loan
d) Deposit
e) None of these
- UPI is launched by NPCI with RBI’s vision of migrating Indian economy towards a _______________
a) less-cash and less digital society
b) more-cash and more digital society
c) more-cash and less digital society
d) less-cash and more digital society
e) None of these
- Who can avail the benefits of UPI service?
a) Women
b) Senior Citizens
c) Students
d) Businessmen
e) Every consumer with a bank account
- The UPI transaction will be shown as _______________ in the bank account statement
a) NEFT Bank transfer
b) RTGS Bank transfer
c) IMPS Bank transfer
d) All of the above
e) None of these
- In UPI customers share only ____________for payment
a) Account Number
b) Virtual Address
c) IFSC Code
d) Name
e) None of these
- In UPI, banks which have their own mobile application to facilitate transaction is called as ______________
a) Issuers
b) Money Service Providers
c) Cash Service Providers
d) Payment Service Providers
e) None of these
- In UPI, banks which don’t have their payments interface and rely on third party software for transaction using UPI is called as _____________
a) Issuers
b) Money Service Providers
c) Cash Service Providers
d) Payment Service Providers
e) None of these
Answers:
- The Unified Payments Interface (UPI) is a digital payment architecture rolled out by National Payments Corporation of India (NPCI)
Correct Answer is: d)
- In the mid-week of April 2016 RBI Governor launched the UPI developed by NPCI.
Correct Answer is: b)
- Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing & merchant payments into one hood
Correct Answer is: c)
- UPI works only on the mobile interface
Correct Answer is: a)
- Unified Payments Interface is regulated by the Reserve Bank of India and works by instantly transferring funds between two bank accounts on a mobile platform
Correct Answer is: e)
- The limit on transaction through UPI system is Rs 1 lakh
Correct Answer is: c)
- UPI works 24×7, 365 days, unlike RTGS or NEFT services which have specific working hours.
Correct Answer is: b)
- Unified Payments Interface eliminates the need to share your name, your bank account number, IFSC code, or bank branch.
Correct Answer is: e)
- UPI can also be used to send a request for money, like an invoice.
Correct Answer is: a)
- UPI is launched by NPCI with RBI’s vision of migrating Indian economy towards a ‘less-cash’ and more digital society.
Correct Answer is: d)
- Every consumer with a bank account can avail the benefits of this service
Correct Answer is: e)
- The UPI transaction will be shown as IMPS Bank transfer in the bank account statement.
Correct Answer is: c)
- Payment through UPI is safe as the customers share only their virtual address and provide no other sensitive information.
Correct Answer is: b)
- Payment Service Providers (PSP) includes those banks which have their own mobile application to facilitate transaction
Correct Answer is: d)
- Issuers include banks which don’t have their payments interface and rely on third party software for transaction using UPI.
Correct Answer is: a)
Daily Practice Test Schedule | Good Luck
| Topic | Daily Publishing Time |
| Daily News Papers & Editorials | 8.00 AM |
| Current Affairs Quiz | 9.00 AM |
| Logical Reasoning | 10.00 AM |
| Quantitative Aptitude “20-20” | 11.00 AM |
| Vocabulary (Based on The Hindu) | 12.00 PM |
| Static GK Quiz | 1.00 PM |
| English Language “20-20” | 2.00 PM |
| Banking Awareness Quiz | 3.00 PM |
| Reasoning Puzzles & Seating | 4.00 PM |
| Daily Current Affairs Updates | 5.00 PM |
| Data Interpretation / Application Sums (Topic Wise) | 6.00 PM |
| Reasoning Ability “20-20” | 7.00 PM |
| English Language (New Pattern Questions) | 8.00 PM |
| General / Financial Awareness Quiz | 9.00 PM |
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