Digital Banking for Federal Bank MCQ

Digital Banking for Federal Bank MCQ 

1. Banks are required to monitor transactions of suspicious nature for reporting to the authorities under anti- money laundering measures. The purpose of reporting is:

1. Combating finance of terrorism
2. To check hawala transactions
3. To check the inflow of crime money
4. To check inflow of the money earned out of sale of narcotics
5. All the above

2. Cryptocurrency is a _______ .

1. Plastic Money.
2. Digital Medium of Exchange
3. Digital payment
4. Both A & B
5. None of these

3. Computer Emergency Response Team India comes under ___________.

1. Ministry of Communications and Information Technology
2. Ministry of Commerce.
3. RBI
4. Department of Information & Technology.
5. None of these

4. A draft issued by the bank has been lost by the payee. He sends a letter to the issuing bank to stop payment. Bank will

1.  Note caution and will advice the payee to contact purchaser of the draft
2. Not act on the request
3. Stop payment
4. Performs no action
5. None of these

5. The type of cheque which can be encashed only by depositing is known as

1. Order Cheque
2. Bearer Cheque
3. Account Payee Cheque
4. Account Deposit Cheque
5. None of these

6. Which of the following is the implementing body of NACH?

1.  RBI
2. NPCI
3. Ministry of Finance
4.  NABARD
5. None of these

7. Which of the following system has been designed by NPCI for Direct Benefit Transfer (DBT) system?

1.  UPI
2.  BBPS
3.  IMPS
4.  ABPS
5. None of these

8. Which of the following clearing service is not controlled by Reserve Bank of India?

1.  Local ECS
2.  Regional ECS
3.  National ECS
4.  NACH
5. None of these

9. Which of the following is not a product by NPCI?

1.  AEPS
2.  UPI
3.  ECS
4.  RuPay
5. None of these

10. What is the authorized capital of NPCI?

1.  Rs 100 crore
2.  Rs 200 crore
3.  Rs 250 crore
4.  Rs 300 crore
5. Rs. 500 crore

Answers:

1. 5
2. 2
3. 1
4. 1
5. 3
6. 2
7. 4
8. 4
9. 3
10. 4