Banking Awareness Set 66 (BHIM App and BBPS)

Banking Awareness on BHIM App and BBPS 

Important Banking Awareness Questions on BHIM App and BBPS for SBI PO, IBPS PO, NIACL, LIC, RBI, RRB PO Clerk, IPPB and other competitive exams. Bharat Bill Payment System BHIM App Banking Awareness

  1. What does S stands for in BBPS?
    A) System
    B) Service
    C) Software
    D) Symbol
    View Answer
    Option A
    Explanation
    : Bharat Bill Payment System (BBPS)
  2. _____ will be the single authorized entity operating the BBPS.
    A) BBPOU
    B) BBPCU
    C) BBPAU
    D) BBPNU
    View Answer
    Option B
    Explanation
    : Bharat Bill Payment Central Unit (BBPCU) will be the single authorized entity operating the BBPS.
  3. ______ will function as the authorized Bharat Bill Payment Central Unit (BBPCU) in BBPS?
    A) RBI
    B) Sponsor Banks
    C) NPCI
    D) NABARD
    View Answer
    Option C
    Explanation
    : National Payments Corporation of India (NPCI) will function as the authorized Bharat Bill Payment Central Unit (BBPCU)
  4. Bharat Bill Payment Operating Units (BBPOUs) will be the authorized by ____ ?
    A) NPCI
    B) RBI
    C) Finance Ministry
    D) NABARD
    View Answer
    Option B
    Explanation
    : Bharat Bill Payment Operating Units (BBPOUs) Will be the authorised by RBI as operational units, to function in adherence to the standards set by the BBPCU. While there will be a single BBPCU, there could be multiple BBPOUs operating under the BBPS.
  5. Banks which are desirous of operating as BBPOUs would need to obtain one-time approval from the Reserve Bank of India under the ___________.
    A) Companies Act 2013
    B) Payment and Settlement Systems Act, 2007
    C) Banking Regulation Act, 1949
    D) Reserve Bank of India Act, 1934
    View Answer
    Option B
    Explanation
    : Banks which are desirous of operating as BBPOUs would need to obtain one-time approval from the Reserve Bank of India under the Payment and Settlement Systems Act, 2007.
  6. The Virtual Payment Address in BHIM App has the extension of?
    A) upi
    B) name of the bank
    C) bhim
    D) vpa
    View Answer
    Option A
    Explanation
    : Default VPA is mobilenumber@upi
  7. What is the daily limit of transaction in BHIM app?
    A) Rs 10,000
    B) Rs 20,000
    C) Rs 50,000
    D) Rs 1,00,000
    View Answer
    Option B
    Explanation
    : Daily Limit- Rs 20,000
  8. What is the limit on transaction for a single transaction in BHIM app?
    A) Rs 1,000
    B) Rs 2,000
    C) Rs 5,000
    D) Rs 10,000
    View Answer
    Option D
    Explanation
    : Limit per transaction- Rs 10,000
  9. BHIM app is based on?
    A) IMPS
    B) BBPS
    C) UPI
    D) NEFT
    View Answer
    Option C
    Explanation
    : BHIM app is based on UPI
  10. BHIM app is developed by?
    A) RBI
    B) NPCI
    C) MeitY
    D) NASSCOM
    View Answer
    Option B
    Explanation
    : BHIM (Bharat Interface for Money) is a Mobile App developed by National Payments Corporation of India (NPCI), based on the Unified Payment Interface (UPI).

 

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19 Thoughts to “Banking Awareness Set 66 (BHIM App and BBPS)”

  1. gomathy priya

    thanks az:))

  2. Naga

    thanks………

  3. Ittu Si Barbie (。♥‿♥。)

    Thanku 🙂

  4. єияιqυє

    thankyou sir 🙂

  5. sachin shukla@Target SBI Mains

    thankuuu Az

  6. jaga

    sir/mam…BSBDA account no frill account ko replace kiya hai na.???

  7. jaga

    interest on account
    ———————————————–
    fixed deposit > recurring deposit > saving bank a/c deposit

  8. jaga

    BSBDA account.
    —————————————-
    => Aggregate of all credits in a financial year does not exceed Rs.1.00 lac
    => The aggregate of all withdrawals and transfers in a month does not exceed Rs.10,000/-
    => Balance at any point of time does not exceed Rs.50,000/-.
    => The aim of introducing BSBDA is part of the efforts of RBI for furthering financial inclusion objectives.

  9. AVI™ (Sinchen loveR)

    THNXXX

  10. Ambika

    dhanya vaad :))

  11. Ravi Upadhyay

    thnxx.. VPA virtual payment address

  12. monika

    best collection of banking quiz. thank you.

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  14. Asking questions are actually nice thing if you are not understanding anything
    entirely, but this article gives pleasant understanding even.

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