Banking Awareness Set 66 (BHIM App and BBPS)

Suraj

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. Trisha
    May 26, 2017 at 9:35 am

    thanks

  2. gomathy priya
    May 26, 2017 at 10:15 am

    thanks az:))

  3. Naga
    May 26, 2017 at 10:18 am

    thanks………

  4. jaga
    May 26, 2017 at 10:25 am

    Thank u

  5. Ittu Si Barbie (｡♥‿♥｡)
    May 26, 2017 at 10:57 am

    Thanku 🙂

  6. єияιqυє
    May 26, 2017 at 11:14 am

    thankyou sir 🙂

  7. sachin shukla@Target SBI Mains
    May 26, 2017 at 11:48 am

    thankuuu Az

  8. jaga
    May 26, 2017 at 12:35 pm

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

    1. Suraj
      May 26, 2017 at 12:42 pm

      yes

  9. jaga
    May 26, 2017 at 12:37 pm

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

  10. jaga
    May 26, 2017 at 12:39 pm

    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.

  11. AVI™ (Sinchen loveR)
    May 26, 2017 at 11:13 pm

    THNXXX

  12. Ambika
    May 31, 2017 at 3:11 am

    dhanya vaad :))

  13. Tamil
    June 1, 2017 at 8:33 am

    Thanks

  14. Ravi Upadhyay
    October 29, 2017 at 12:17 am

    thnxx.. VPA virtual payment address

  15. monika
    November 21, 2017 at 8:19 am

    best collection of banking quiz. thank you.

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  17. dela
    June 11, 2023 at 3:35 pm

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    August 13, 2023 at 1:02 pm

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