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M1-R5.1 — Digital Finance Tools MCQ
25 Questions • M1-R5.1 and CCC
20:00
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1
UPI stands for?
A
Unified Payment Interface
B
Universal Payment Interface
C
United Payment Interface
D
Unified Processing Interface
2
NEFT stands for?
A
National Electronic Funds Transfer
B
National Electronic Finance Transfer
C
New Electronic Funds Transfer
D
Normal Electronic Fund Transfer
3
RTGS transfers are available?
A
Only on weekdays 8AM-6PM
B
24×7 all days
C
Only on Sundays
D
Only at ATM
4
IMPS is a payment method that works?
A
Only business hours
B
24×7 including holidays
C
Only weekdays
D
Only through bank branch
5
DigiLocker is a service provided by?
A
NPCI
B
RBI
C
Government of India
D
SEBI
6
Which app is commonly used for UPI payments in India?
A
Facebook
B
WhatsApp Pay / GPay / PhonePe
C
Google Chrome
D
YouTube
7
Net Banking allows users to?
A
Physically visit bank
B
Perform banking transactions online
C
Withdraw cash from ATM
D
Open a new bank account only
8
OTP in digital payments stands for?
A
One Time Password
B
Online Transfer Protocol
C
Official Transaction Pin
D
Open Transfer Password
9
e-Wallet stores?
A
Physical cash
B
Digital money for online payments
C
Bank account details only
D
ATM card
10
Aadhar-enabled Payment System (AePS) uses?
A
Credit card
B
Fingerprint authentication via Aadhaar
C
OTP only
D
PIN only
11
BHIM app is based on?
A
NEFT
B
RTGS
C
UPI
D
IMPS
12
NPCI stands for?
A
National Payment Corporation of India
B
National Processing Corporation of India
C
Net Payment Control Interface
D
National Pay Card India
13
ATM stands for?
A
Any Time Money
B
Automated Teller Machine
C
Automatic Transfer Machine
D
All Time Machine
14
USSD stands for?
A
Unstructured Supplementary Service Data
B
Universal Service System Data
C
Unified Service Standard Data
D
United System Service Data
15
Digital India campaign was launched in?
A
2014
B
2015
C
2016
D
2017
16
Paytm is an example of?
A
Operating System
B
Digital Wallet/Payment App
C
Web Browser
D
Database
17
KYC stands for?
A
Know Your Computer
B
Know Your Customer
C
Keep Your Card
D
Know Your Code
18
Cryptocurrency like Bitcoin uses which technology?
A
Cloud Computing
B
Blockchain
C
VPN
D
FTP
19
QR code in payments is?
A
A barcode type for quick scanning
B
A password
C
A bank account number
D
A SIM card
20
NACH stands for?
A
National Automated Clearing House
B
National Auto Cash House
C
National Automated Credit House
D
Net Auto Clearing Hub
21
Which is a government digital payment initiative?
A
BHIM
B
PayPal
C
Bitcoin
D
Telegram
22
What is debit card used for?
A
Borrowing money
B
Spending money from your bank account
C
Investing in stocks
D
Sending emails
23
e-RUPI is?
A
A digital currency
B
A prepaid digital voucher
C
A bank account
D
A credit card
24
RBI stands for?
A
Reserve Bank of India
B
Rural Bank of India
C
Real Banking Interface
D
Rapid Banking Institute
25
POS stands for?
A
Point of Sale
B
Payment on Service
C
Process of Selling
D
Point of Service
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