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1.  
RTGS became available 24x7x365 with effect from:

Correct Answer: C [14 December 2020]

Explanation:

14 December 2020.

2.  
In RTGS, the beneficiary bank must credit the beneficiary's account within:

Correct Answer: E [30 minutes]

Explanation:

30 minutes of receiving the transfer message.

3.  
Odd one out (by operator):

Correct Answer: D [NEFT]

Explanation:

NEFT is run by the RBI; the others by NPCI.

4.  
Match the NPCI product with what it does:
(i) NFS (ii) APB (iii) NETC (iv) NACH
(p) bulk push and pull (e-mandate) transactions (q) FASTag toll payments (r) Aadhaar-based DBT credits (s) shared ATM network

Correct Answer: A [i-s, ii-r, iii-q, iv-p]

Explanation:

NFS – India's largest shared ATM network; APB – DBT under central and state schemes; NETC – FASTag; NACH – bulk and e-mandate.

5.  
The maximum charge (excluding tax) a bank may levy for an outward RTGS of ₹ 4.5 lakh is:

Correct Answer: B [₹ 25]

Explanation:

₹ 2–5 lakh slab → maximum ₹ 25.

6.  
Which of the following PPIs does NOT need RBI authorisation and is not regulated by the RBI?

Correct Answer: A [Closed system PPI]

Explanation:

Closed system PPIs – used only with the issuer.

7.  
The Bharat Bill Payment Central Unit (BBPCU) function is performed by:

Correct Answer: C [NPCI Bharat BillPay Ltd (NBBL), an NPCI subsidiary]

Explanation:

NPCI Bharat BillPay Ltd (NBBL), an NPCI subsidiary, is the authorised BBPCU.

8.  
Which is/are correct about NEFT?
I. The RBI sets no minimum or maximum amount.
II. Online NEFT by savings-account holders is free from 1 January 2020.
III. Outward cross-border NEFT is allowed to any SAARC country.

Correct Answer: B [Only I and II]

Explanation:

I and II true; outward only to Nepal (Indo-Nepal Remittance Facility).

9.  
The digital rupee (e₹) is legal tender under which provision?

Correct Answer: D [Section 26 of the RBI Act]

Explanation:

Section 26 of the RBI Act, 1934.

10.  
A small PPI (minimum details) can hold an outstanding balance of at most:

Correct Answer: E [₹ 10,000]

Explanation:

₹ 10,000 (₹ 1,20,000 is the annual loading cap).

11.  
IMPS was publicly launched by NPCI on:

Correct Answer: C [22 November 2010]

Explanation:

22 November 2010.

12.  
As per PIB (24 Aug 2026), UPI's share in India's digital payments in FY 2025-26 was:

Correct Answer: E [84%]

Explanation:

84%; 49% is UPI's share of the world's real-time payment volume.

13.  
Odd one out (countries where UPI is live as on 24 Aug 2026):

Correct Answer: D [Japan]

Explanation:

Japan is not in the PIB list of 11 countries.

14.  
Positive Pay is available for cheques of value:

Correct Answer: A [₹ 50,000 and above]

Explanation:

₹ 50,000 and above; banks may make it mandatory for ₹ 5 lakh and above.

15.  
Trick Spotter: which became 24x7 first – and what recalls it?

Correct Answer: B [NEFT – N before R]

Explanation:

NEFT 16 Dec 2019, RTGS 14 Dec 2020.

16.  
All RuPay cards now carry which functionality for low-value offline contactless payments?

Correct Answer: B [NCMC]

Explanation:

National Common Mobility Card.

17.  
Outward cross-border purchases using a full-KYC PPI are capped (RBI FAQ, 22 Nov 2022) at:

Correct Answer: E [₹ 10,000 per transaction and ₹ 50,000 a month]

Explanation:

Cross-border outward: ₹ 10,000 / ₹ 50,000.

18.  
To RECEIVE money through UPI, a customer must enter:

Correct Answer: C [nothing – no UPI PIN is needed to receive]

Explanation:

The UPI PIN is only for paying; a request asking for it is a payment out.

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