Economy notes upto Cashless economy

Question 1

Barter problems

Answer 1

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Question 2

3 types of money functions and examples

Answer 2

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Question 3

Commodity money examples

Answer 3

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Question 4

Metallic money: Gold coins examples

Answer 4

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Question 5

Advantages of metallic money?

Answer 5

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Question 6

Silver coin examples

Answer 6

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Question 7

Why was there a decline in quality of coins in medeival India?

Answer 7

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Question 8

What were the 3 responses to the decline of quality of gold coins in medeival India?

Answer 8

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Question 9

What are full bodies coins?

Answer 9

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Question 10

What are token coins?

Answer 10

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Question 11

What is fiat money?

Answer 11

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Question 12

What is legal tender?

Answer 12

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Question 13

Whar are the two acts under which government issues currency?

Answer 13

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Question 14

Why coins are limited legal tender?

Answer 14

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Question 15

Why currency notes are unlimited legal tender?

Answer 15

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Question 16

Which act imposes limitations on notes as legal tender?

Answer 16

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Question 17

Who has designed rupee symbol?

Answer 17

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Question 18

What are the 2 features in our currency notes for VI People?

Answer 18

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Question 19

What is representative money?

Answer 19

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Question 20

Is fiat money representative? Was it ever?

Answer 20

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Question 21

What are the 3 financial features of a bank note?

Answer 21

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Question 22

What is the act governing issue of cheques in India?

Answer 22

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Question 23

Who passed the act governing Cheques in India?

Answer 23

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Question 24

How does the act relating to Cheques work in India

Answer 24

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Question 25

In increasing technological complexity, what are the 3 technologies for automated cheque clearance

Answer 25

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Question 26

Who operates Cheque Truncation system?

Answer 26

N.A

Question 27

What is Core Banking solution?

Answer 27

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Question 28

What is RBI's CBS used for?

Answer 28

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Question 29

What are the 3 net banking solutions under RBI?

Answer 29

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Question 30

What are the different aims of the 3 net banking solutions under RBI?

Answer 30

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Question 31

What is NPCI?

Answer 31

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Question 32

What are the 3 main payment mechanisms under NPCI

Answer 32

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Question 33

Who had launched IMPS?

Answer 33

N.A

Question 34

What agencies can use IMPS?

Answer 34

N.A

Question 35

Time limit for IMPS, if any?

Answer 35

N.A

Question 36

Difference between push and pull transactions?

Answer 36

N.A

Question 37

Can you do both push and pull with UPI?

Answer 37

N.A

Question 38

BHIM is under which agency?

Answer 38

N.A

Question 39

Speciality of QR Code?

Answer 39

N.A

Question 40

What Adhar Enabled Payment Systems use?

Answer 40

N.A

Question 41

RBI has issued guidelines regarding interoperability in wallets. Which act gives RBI power to do so?

Answer 41

N.A

Question 42

Are PPIs regulated by RBI? Under what act?

Answer 42

N.A

Question 43

How Cards/ Plastic money works?

Answer 43

N.A

Question 44

Cards are operated by whom under NPCI

Answer 44

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Question 45

What is NPCI's own card?

Answer 45

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Question 46

What has been done to increase Rupay's reach?

Answer 46

N.A

Question 47

Explain how Rupay is like a regular card?

Answer 47

N.A

Question 48

The 3 components of National Common Mobility Card?

Answer 48

N.A

Question 49

The main agency to develop NCMC?

Answer 49

N.A

Question 50

What are the 2 different card technolgies?

Answer 50

N.A

Question 51

Rbi regulation on magnetic technology in cards?

Answer 51

N.A

Question 52

Explain tokenisation?

Answer 52

N.A

Question 53

Who operates ATM? Hint?:- same agency as IMPS

Answer 53

N.A

Question 54

What is Bankmitra

Answer 54

N.A