Tag: bank 2 - accounts maintained by a bank

Questions Related to bank 2 - accounts maintained by a bank

IMPS transactions can be done in which of the following way(s)?

business organisation and correspondence bank 2 - accounts maintained by a bank functions and services of banks role of banks in economic development and modes of money transfer accounts and other services

  1. Using Mobile number & MMID (P2P)

  2. Using Account number & IFS Code (P2A)

  3. Using Aadhaar number (ABRS)

  4. All of the above

Show answer
Correct Option: D
Explanation:

IMPS is the process of transferring funds through mobile phones. IMPS stands for Immediate Payment Service. The service of IMPS is available 24/7 throughout the year including bank holidays. It offers an inter bank electronic fund transfer service through the use of mobile phones. IMPS can be done in the following ways:a) Using Mobile number & MMID (P2P) b) Using Account number & IFS Code (P2A)c) Using Aadhaar number (ABRS)

What is the maximum amount PER transaction that can be done through NEFT for cash-based transactions?

business organisation and correspondence bank 2 - accounts maintained by a bank functions and services of banks role of banks in economic development and modes of money transfer accounts and other services

  1. Rs 25000

  2. Rs 30000

  3. Rs 50000

  4. No limit

Show answer
Correct Option: C

Projections and responses to queries are Information output characteristics associated with ______________________.

business organisation and correspondence bank 2 - accounts maintained by a bank functions and services of banks role of banks in economic development and modes of money transfer accounts and other services

  1. Decision Support System (DSS)

  2. Management Information System (MIS)

  3. Executive Support System (ESS)

  4. Transaction Processing System (TPS)

Show answer
Correct Option: C
Explanation:

Projections and responses to queries are Information output characteristics associated with Executive Support System (ESS). Executive Support System is also known as Executive Information System. It helps to provide easy access to internal and external information relevant to organizational goals. It also supports decision-making needs.

Summary transaction data, high-volume data, and simple models are information inputs characteristic of _________________.

business organisation and correspondence bank 2 - accounts maintained by a bank functions and services of banks role of banks in economic development and modes of money transfer accounts and other services

  1. Decision Support System (DSS)

  2. Management Information System (MIS)

  3. Executive Support System (ESS)

  4. Transaction Processing System (TPS)

Show answer
Correct Option: B
Explanation:

Summary transaction data, high-volume data, and simple models are information inputs characteristic of Management Information System(MIS). Management Information System can be defined as an information system which is used for decision-making purpose and for maintaining coordination in the organization. It also helps to visualize the information of the organization.

The information of MIS comes from the _____.

business organisation and correspondence bank 2 - accounts maintained by a bank functions and services of banks role of banks in economic development and modes of money transfer accounts and other services

  1. Internal source

  2. External source

  3. Both internal and external source

  4. None of the above

Show answer
Correct Option: C
Explanation:

The information of MIS comes from the boot internal and external source. MIS is normally found in manufacturing sector. A Management Information System can be defined as an information based system which is used for the decision -making purpose and for maintaining coordination in an organization. It helps to visualize the information of the organization.

______________ system can be any organized combination of people, hardware, software, communications networks and data resources that collects, transforms and disseminates information in an organization.

business organisation and correspondence bank 2 - accounts maintained by a bank functions and services of banks role of banks in economic development and modes of money transfer accounts and other services

  1. Information

  2. Integrated

  3. Horizontal

  4. Vertical

Show answer
Correct Option: A
Explanation:

Information system can be any organized combination of people, hardware, software, communications networks and data resources that collects, transforms and disseminates information in an organization. Information system basically helps to deliver the information to the concerned persons to get all the activities done in an efficient manner to run the organization in a proper way.

MIS normally found in a manufacturing organization will not be suitable in the ______.

business organisation and correspondence bank 2 - accounts maintained by a bank functions and services of banks role of banks in economic development and modes of money transfer accounts and other services

  1. Service sector

  2. Banking sector

  3. Agriculture sector

  4. Transportation

Show answer
Correct Option: A
Explanation:

MIS normally found in a manufacturing organization will not be suitable in the service sector. MIS is normally found in manufacturing sector. A Management Information System can be defined as an information based system which is used for the decision -making purpose and for maintaining coordination in an organization. It helps to visualize the information of the organization.

Information system recommended by the study group is an important tool ______________.

business organisation and correspondence bank 2 - accounts maintained by a bank functions and services of banks role of banks in economic development and modes of money transfer accounts and other services

  1. to determine the quantum of credit

  2. to watch end-use of credit

  3. to detect any incipient sickness to facilitate taking timely action

  4. All the above

Show answer
Correct Option: D
Explanation:

D.

A group decision support system is an interactive computer-based system. 

It facilitates a number of decision-makers who are working together in a group to find solutions to problems that are unstructured in nature. 

They take input from multiple users interacting simultaneously with the systems to arrive at a decision as a group. Also, the tools and techniques provided by them improve the quality and effectiveness of the group meetings.

In ECS do you get interest?

business organisation and correspondence bank 2 - accounts maintained by a bank functions and services of banks role of banks in economic development and modes of money transfer accounts and other services

  1. Yes

  2. No

  3. No, it is a postal scheme

  4. No, it is taxpaying scheme

Show answer
Correct Option: A
Explanation:

ECS is an electronic mode of payment / receipt for transactions that are repetitive and periodic in nature. ECS is used by institutions for making bulk payment of amounts towards distribution of dividend, interest, salary, pension, etc., or for bulk collection of amounts towards telephone / electricity / water dues, cess / tax collections, loan installment repayments, periodic investments in mutual funds, etc. Essentially, ECS facilitates bulk transfer of monies from one bank account to many bank accounts or vice versa using the services of a ECS Centre at a ECS location.

The use of VSAT is ____________________.

business organisation and correspondence bank 2 - accounts maintained by a bank functions and services of banks role of banks in economic development and modes of money transfer accounts and other services

  1. to secure integrated system.

  2. to connect different business of organizations.

  3. to transmit noise.

  4. to transmit data.

Show answer
Correct Option: B
Explanation:

It offers businesses and government agencies a highly flexible and reliable communication solution in both urban and rural areas. It helps in connecting business organisations. It can be used to provide innovative applications such as tele-medicine, newspapers-on-line, market rates and tele-education even in the most remote areas of our country.