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Banking Awareness Quiz – Set 185

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Hello Aspirants,
Welcome to Banking Awareness Quiz in AffairsCloud.com. Here we are creating quiz covering important questions which are common for all the bank exams and other competitive exams.

      1. ______ of Banking Regulation Act, 1949 deals with return of unclaimed deposits
        A. Section 26
        B. Section 27
        C. Section 28
        D. Section 29
        E. Section 30
        A. Section 26
        Explanation:
        Section 26 of Banking Regulation Act, 1949 deals with return of unclaimed deposits

      2. ______ of Negotiable Instruments Act, 1881 deals with Bill of Exchange.
        A. Section 5
        B. Section 7
        C. Section 8
        D. Section 9
        E. Section 10
        A. Section 5
        Explanation:
        Section 5 of Negotiable Instruments Act, 1881 deals with Bill of Exchange.

      3. ______ of Negotiable Instruments Act, 1881 deals with Cheque.
        A. Section 5
        B. Section 6
        C. Section 8
        D. Section 9
        E. Section 10
        B. Section 6
        Explanation:
        Section 6 of Negotiable Instruments Act, 1881 deals with Cheque.

      4. Section 13 of Negotiable Instruments Act, 1881 deals with _______
        A. Reserve Fund
        B. Cheque
        C. Negotiable Instruments
        D. Promissory Note
        E. None of these
        C. Negotiable Instruments
        Explanation:
        Section 13 of Negotiable Instruments Act, 1881 deals with Negotiable Instruments.

      5. NPCI has been incorporated as a company under ________Companies Act. and is aimed to operate for the benefit of all the member banks and their customers.
        A. Section 25
        B. Section 27
        C. Section 28
        D. Section 29
        E. Section 30
        A. Section 25
        Explanation:
        NPCI has been incorporated as a company under section 25 of Companies Act. and is aimed to operate for the benefit of all the member banks and their customers.

      6. Which of the following functions as the authorized Bharat Bill Payment Central Unit(BBPCU)?
        A. RBI
        B. NABARD
        C. SEBI
        D. NPCI
        E. None of these
        D. NPCI
        Explanation:
        NPCI functions as the authorized Bharat Bill Payment Central Unit(BBPCU)

      7. Which is an innovative real-time payment service that is available round the clock?
        A. NEFT
        B. RTGS
        C. IMPS
        D. All of these
        E. None of these
        C. IMPS
        Explanation:
        IMPS is an innovative real-time payment service that is available round the clock.

      8. Which of the following is the channel for transferring funds using UPI?
        A. Account Number + IFSC
        B. Mobile Number + MMID
        C. Aadhaar Number
        D. Collect / Pull money basis Virtual ID
        E. All of these
        E. All of these
        Explanation:
        The different channels for transferring funds using UPI are:
        Transfer through Virtual ID
        Account Number + IFSC
        Mobile Number + MMID
        Aadhaar Number
        Collect / Pull money basis Virtual ID

      9. “P” in NUUP stands for _____
        A. Platform
        B. Product
        C. Program
        D. All of these
        E.  None of these
        A. Platform
        Explanation:
        National Unified USSD Platform (NUUP)

      10. “A” in QSAM refers to ______
        A. Advanced
        B. Additional
        C. Aadhaar
        D. All of these
        E. None of these
        C. Aadhaar
        Explanation:
        Query Service on Aadhaar Mapper (QSAM)