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E - Banking

Description: E- banking -1
Number of Questions: 15
Created by:
Tags: E- banking -1 Banking Awareness Banking Terminologies Companies, Brand names/ Products
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‘IMPS’ stands for

  1. Immediate Payment Service

  2. Internet Mobile Payment Service

  3. Interconnect Mobile Payment Service

  4. Internet Money Payment Service

  5. Interconnect Money Payment Service


Correct Option: A
Explanation:

IMPS stands for 'Immediate Payment Service'.

Which of the following is a transmission protocol for banking information, which can be used by bank clients?

  1. EBIPS

  2. EBICS

  3. TCP/IP

  4. FTP

  5. None of these


Correct Option: B
Explanation:

The Electronic Banking Internet Communication Standard (EBICS) is a transmission protocol for banking information for usage by banking clients. 

ELPS is

  1. Electronic Local Payment System

  2. Electronic Ledger Posting System

  3. Electronic Local Payment Service

  4. Electronic Loan Payment Service

  5. None of these


Correct Option: B
Explanation:

The answer is correct. Before introduction of computers in banking system , ELPM/ ALPM were used for making ledger entries on real-time basis.

Which of the following tasks cannot be performed by internet banking?

  1. Transferring of funds

  2. Payment of bills

  3. Investment purchase

  4. None of these

  5. All of the above


Correct Option: D
Explanation:

We can perform every given task with internet banking. Hence, option 4 is correct.

EDI is

  1. Electronic Documentary Information

  2. Electronic Data Interchange

  3. Electronic Digital Information

  4. Emergency Dialing Information


Correct Option: B
Explanation:

EDI is a format used in banking system through which the payment instructions can be created and send a cheque to suppliers for whom you do not have banking information

National BankNet is an exclusive web service for national banks. Which of the following operates this service?

  1. Comptroller of Currency

  2. Comptroller and Audit General of India

  3. Economic Advisor

  4. Reserve Bank of India

  5. None of these


Correct Option: A
Explanation:

 Comptroller of Currency operates National BankNet.

SMART money is a term used for

  1. Internet Banking

  2. Credit card

  3. Bank cash

  4. Public cash


Correct Option: B

In February 2012, RBI had removed the transaction limit per customer per day on mobile banking transactions. What was the earlier transaction cap?

  1. Rs. 50,000

  2. Rs. 1,00,000

  3. Rs. 75,000

  4. Rs. 25,000

  5. Rs. 1,50,000


Correct Option: A
Explanation:

 The Reserve Bank of India (RBI) has removed the transaction limit of Rs. 50,000 per customer per day on mobile banking transactions.

Which of the following banks was the first to provide Internet Banking in India?

  1. SBI

  2. HSBC bank

  3. ICICI bank

  4. Axis bank


Correct Option: C

Which of the following banks established the first ATM in world?

  1. Barclays Bank

  2. Citi Bank

  3. Hongkong and Shanghai Banking Corporation

  4. Di-Ichi-Kangyo Bank


Correct Option: A

Which of the following is considered as a valid address proof for opening a new account by RBI?

  1. Student ID card

  2. Marriage certificate

  3. Aadhaar card

  4. Ration card

  5. All of the above


Correct Option: C
Explanation:

 Aadhaar card is considered as a valid address proof for opening a new account by RBI.

What is the other name of Credit Card that is popular in banking world?

  1. PAN Card

  2. PIN Card

  3. Electronic Cheque

  4. Plastic Money

  5. None of these


Correct Option: D
Explanation:

Option 4 is correct.

Why are Credit Cards useful?

  1. Risk of carrying cash is very low

  2. It is helpful in case of contingent purchasing

  3. There is an increase in sales indirectly

  4. All the above

  5. None of the above


Correct Option: D

Which is the first public sector bank to provide ATM facility independently?

  1. State Bank of India

  2. Corporation Bank

  3. Dena Bank

  4. Bank of Baroda

  5. Punjab National Bank


Correct Option: A
Explanation:

 State Bank of India is the first public sector bank to provide ATM facility independently.

Which ATM network is sponsored by Indian Banks' Association?

  1. ATM Net

  2. RBI Net

  3. SWADHAN

  4. Bank Net

  5. None of these


Correct Option: C
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