Banking Awareness Quiz

Banking Awareness Quiz – Set 285: These questions on Banking Awareness are most important for banking and insurance exams. The question asked in the Banking Awareness section are based both on static banking and that to current banking in news. These Banking Awareness sets will guide you in all banking exams like IBPS Clerk, IBPS PO, SBI Clerk, SBI PO, RRB Clerk and PO and other exams. So attempt all the sets now.

1. What is the maximum limit of each e-RUPI voucher?
   A) Rs 5,000
   B) Rs 10,000
   C) Rs 20,000
   D) Rs 50,000
   
   View answer

     Option B
   Explanation: Maximum limit of each e-RUPI shall not exceed INR 10,000.
2. How many e-RUPI vouchers can be issued for 1 user for one programme?
   A) 1
   B) 5
   C) 10
   D) 20
   
   View answer

     Option C
   Explanation: Upto 10 e-RUPI vouchers can be issued for one programme on single mobile number / per unique beneficiary; the requirement shall be configurable as per the Scheme requirements
3. The 3 digit number printed on the back of the RuPay card is known as?
   A) CVA
   B) CVB
   C) CVC
   D) CVD
   
   View answer

   Option D
   Explanation: CVD (Card Validation Data)- It’s a three-digit number printed on the back of the card the same as CVV as referred to by other international schemes.
4. Which of the following card type is an example of “Pay Now, Use Later”?
   A) Debit Card
   B) Credit Card
   C) Prepaid Card
   D) ATM Card
   
   View answer

   Option C
   Explanation: Prepaid Cards: Pay Now, Use Later: Prepaid card is a Payment Card that is preloaded with money by you or someone else. ; Debit Cards: Use Now, Pay Now; Credit Cards: Use Now, Pay Later
5. _______________ service helps user in knowing their Aadhaar Seeding status with their bank account.
   A) QRAM
   B) QASM
   C) QASK
   D) QSAM
   
   View answer

   Option D
   Explanation: Query Service on Aadhaar Mapper (QSAM)
6. What is the validity of FASTag?
   A) 10 years
   B) 5 years
   C) 6 years
   D) 15 years
   
   View answer

   Option B
   Explanation: The tag has a validity of 5 years and after purchasing, you only need to recharge/ top up the tag as per your usage.
7. Which of the following is the Cheque Processing Centre (CPC) for CTS?
   A) RBI
   B) SBI
   C) NPCI
   D) All of these
   
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   Option C
   Explanation: RBI has mandated NPCI to operationalise CTS. NPCI will act as a Cheque Processing Centre (CPC) and will process electronic cheques and images received from member banks.
8. What is the limit for IPO application per transaction on UPI?
   A) Rs 50,000
   B) Rs 1 Lakh
   C) Rs 2 Lakh
   D) Rs 5 Lakh
   
   View answer

   Option C
   Explanation: The limit for IPO application is 2 Lakhs per transaction on UPI
9. What is the limit of fund transfer using *99# service of USSD (per transaction)?
   A) Rs 1,000
   B) Rs 5,000
   C) Rs 10,000
   D) Rs 15,000
   
   View answer

   Option B
   Explanation: At present, the upper limit on *99# is Rs. 5000 per transaction.
10. RRN number is a ______ digit number generated to record the transaction and to identify a transaction uniquely in Aadhaar Enabled Payment System (AePS).
    A) 10
    B) 12
    C) 15
    D) 18
    
    View answer

    Option B
    Explanation: RRN number is a 12 digit number generated to record the transaction and to identify a transaction uniquely.

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