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1.  
Phase 1 of continuous clearing and settlement on realisation in CTS began on:

Correct Answer: D [4 October 2025]

Explanation:

4 October 2025 (RBI circular of 13 Aug 2025); Phase 2, planned for 3 January 2026, was postponed until further notice.

2.  
In its first month (August 2016), UPI recorded about how many transactions (PIB, 24 Aug 2026)?

Correct Answer: C [90,000]

Explanation:

About 90,000 – against 2,366 crore in July 2026.

3.  
UPI was launched by NPCI in the year:

Correct Answer: A [2016]

Explanation:

UPI – 2016 (IMPS was 2010).

4.  
NEFT settles transactions:

Correct Answer: B [in half-hourly batches]

Explanation:

NEFT – half-hourly batches, 24x7.

5.  
Which NPCI product is used for electronic toll payment?

Correct Answer: C [NETC FASTag]

Explanation:

NETC – FASTag RFID sticker.

6.  
Payment systems in India are regulated by the RBI under the:

Correct Answer: A [Payment and Settlement Systems Act, 2007]

Explanation:

PSS Act, 2007.

7.  
NEFT became available 24x7 from:

Correct Answer: B [16 December 2019]

Explanation:

16 Dec 2019 (RTGS: 14 Dec 2020).

8.  
The maximum amount outstanding in a full-KYC PPI at any time is:

Correct Answer: D [₹ 2,00,000]

Explanation:

Full-KYC PPI – ₹ 2,00,000.

9.  
True or false? "Interest is paid on balances held in e₹ wallets."

Correct Answer: B [False]

Explanation:

No interest is paid on e₹ wallet balances.

10.  
Banking through Aadhaar number and fingerprint at a business correspondent's micro-ATM is called:

Correct Answer: B [AePS]

Explanation:

Aadhaar Enabled Payment System.

11.  
Fill in the blank: India's domestic card payment network, operated by NPCI, is ____.

Correct Answer: C [RuPay]

Explanation:

RuPay – debit, credit and prepaid cards.

12.  
A walk-in customer without a bank account can send cash through NEFT up to:

Correct Answer: A [₹ 50,000]

Explanation:

Cash-based NEFT remittance – ₹ 50,000 per transaction.

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