Digital Banking Initiatives

Question 1

Indian financial system code IFSC consists of how many digits

Answer 1

11

Question 2

indian financial system code 1st four digits

Answer 2

To identify bank

Question 3

indian financial system code 5th digit

Answer 3

Numeric (kept 0)

Question 4

Indian financial system code last six digits

Answer 4

Represents bank branch

Question 5

NEFT

Answer 5

National electronic fund transfer

Question 6

national electronic fund transfer NEFT transaction limits

Answer 6

Minimum rs1 maximum no limit

Question 7

Indo nepal remittance facility

Answer 7

Through NEFT one can transfer upto 50000 with a maximum of 12 remmitances in a year

Question 8

RTGS

Answer 8

Real time gross settlement

Question 9

RTGS transfer limits

Answer 9

Minimum rs2,00,000 maximum no limit

Question 10

IMPS

Answer 10

immediate payment service

Question 11

immediate payment service IMPS transfer limit

Answer 11

Minimum rs1 maximum rs5,00,000

Question 12

Mobile money identifier MMID is a _ digit number

Answer 12

7 digit

Question 13

Unified payments interface (UPI) transfer limits

Answer 13

Minimum rs to maximum rs1,00,000

Question 14

VPA full form

Answer 14

Virtual payment address

Question 15

AePS full form

Answer 15

AADHAR ENABLED PAYMENT SYSTEM

Question 16

NACH full form

Answer 16

National automated clearing house

Question 17

EMV chip full form

Answer 17

Europay mastercard and visa

Question 18

BBPS FULL FORM

Answer 18

Bharat bill payment system

Question 19

BHIM full form

Answer 19

Bharat interface for money

Question 20

USSD

Answer 20

Unstructured supplementary service data *99#

Question 21

National common mobility card

Answer 21

Rupay contactless