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1.  
Which of the following payment systems is owned and operated by the RBI?

Correct Answer: A [NEFT]

Explanation:

NEFT and RTGS are RBI systems; the others are NPCI.

2.  
As per the RBI's RTGS FAQ (see the dated box in this chapter), the minimum amount that can be sent through RTGS is:

Correct Answer: B [₹ 2,00,000]

Explanation:

₹ 2,00,000 minimum, no maximum (RBI FAQ, updated 31-10-2022).

3.  
In RTGS, 'gross settlement' means:

Correct Answer: E [each transfer is settled individually]

Explanation:

Gross = one by one; real time = when received.

4.  
Salary credits and loan EMI debits for thousands of customers every month are handled through:

Correct Answer: D [NACH]

Explanation:

NACH handles bulk and repetitive mandates.

5.  
A villager withdraws cash at a business correspondent's micro-ATM using his Aadhaar number and fingerprint. The system is:

Correct Answer: C [AEPS]

Explanation:

Aadhaar Enabled Payment System.

6.  
Which of the following is a valid IFSC structure?

Correct Answer: D [WXYZ0123456]

Explanation:

4 letters, then 0, then 6 characters.

7.  
In the made-up MICR code 560789012, the digits 789 identify the:

Correct Answer: E [bank]

Explanation:

3 city (560) + 3 bank (789) + 3 branch (012).

8.  
Which card technology creates a unique code for every transaction and is harder to copy than the magnetic stripe?

Correct Answer: C [EMV chip]

Explanation:

The chip generates dynamic data.

9.  
Replacing the actual card number with a substitute value stored by the merchant or device is called:

Correct Answer: A [tokenisation]

Explanation:

The token protects the real card number.

10.  
A bank keeps customer data on its own private cloud but uses a public cloud for its website at peak times. This deployment model is a:

Correct Answer: B [Hybrid cloud]

Explanation:

Hybrid = private + public together; SaaS is a service model, not a deployment model.

11.  
A shared ledger copied across many computers, in which blocks of records are linked by cryptographic hashes, is:

Correct Answer: B [Blockchain]

Explanation:

Blockchain / distributed ledger technology.

12.  
Smart electricity meters and sensors that are connected to the internet and send readings by themselves are an example of:

Correct Answer: E [Internet of Things]

Explanation:

IoT = physical devices with sensors connected to the internet; RPA robots are software.

13.  
Match the system with its operator or nature:
List I: (a) NEFT; (b) RTGS; (c) UPI; (d) NETC
List II: (1) NPCI – FASTag; (2) NPCI – UPI ID and PIN; (3) RBI – real time, individual; (4) RBI – half-hourly batches

Correct Answer: A [a-4, b-3, c-2, d-1]

Explanation:

NEFT batches (RBI); RTGS real time (RBI); UPI and NETC (NPCI).

14.  
In UPI, VPA stands for:

Correct Answer: D [Virtual Payment Address]

Explanation:

Virtual Payment Address – the UPI ID.

15.  
India's own card payment network, launched by NPCI, is:

Correct Answer: C [RuPay]

Explanation:

RuPay is NPCI's card network.

16.  
A second, distant site that takes over the bank's systems if the main data centre fails is the:

Correct Answer: B [disaster recovery (DR) site]

Explanation:

DC + DR site = business continuity.

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