Banking Awareness Quiz – Set 185

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. 1. 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
         
         Answer & Explanation

         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
         
         Answer & Explanation

         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
         
         Answer & Explanation

         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
         
         Answer & Explanation

         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
         
         Answer & Explanation

         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
         
         Answer & Explanation

         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
         
         Answer & Explanation

         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
         
         Answer & Explanation

         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
         
         Answer & Explanation

         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
          
          Answer & Explanation

          C. Aadhaar
          Explanation:
          Query Service on Aadhaar Mapper (QSAM)