Banking Awareness Set 65 (IMPS)

Banking Awareness on Immediate Payment Service (IMPS)

Important Banking Awareness Questions on Immediate Payment Service (IMPS) for SBI PO, IBPS PO, NIACL, LIC, RBI, RRB PO Clerk, IPPB and other competitive exams. Banking Awareness Immediate Payment Service IMPS.

  1. Immediate Payment Service (IMPS) facility is provided by?
    A) BBPS
    B) RBI
    C) NPCI
    D) AEPS
    View Answer
    Option C
     
  2. Immediate Payment Service (IMPS) is provided by NPCI through its existing ____ switch.
    A) Hitachi
    B) ISO
    C) NFS
    D) RBI
    View Answer
    Option C
    Explanation
    : National Financial Switch (NFS)
  3. Mobile Money Identifier (MMID) is a ___ digit number.
    A) 4
    B) 5
    C) 6
    D) 7
    View Answer
    Option D
  4. Which of the following cannot be used for fund transfer through IMPS?
    A) Using Mobile number & MMID
    B) Using Aadhaar numbe
    C) Using Virtual Private Address
    D) Using Account number & IFS Code
    View Answer
    Option C
    Explanation
    : Facility of VPA is available in UPI.
  5. What does S stands for in ABRS with respect to payment through Aadhar Cards?
    A) System
    B) Service
    C) Software
    D) Schedule
    View Answer
    Option B
    Explanation
    : Aadhaar based Remittance Service (ABRS)
    In ABRS, a remitter can initiate IMPS transaction using the beneficiary’s AADHAAR number, which acts as a financial address & which will be linked to the beneficiaries account number.
  6. IFS Code is a ___ digit code.
    A) 7
    B) 9
    C) 11
    D) 16
    View Answer
    Option C
    Explanation
    : IFS Code – 11 digit alphanumeric number, available in the users Cheque book. A person can initiate IMPS transaction using account number and IFS code also
  7. What does M stands for in QSAM with respect to Aadhar based payments?
    A) Manager
    B) Merge
    C) Mapper
    D) Maintain
    View Answer
    Option C
    Explanation
    : Query Service on Aadhaar Mapper (QSAM) –
  8. Instant money transfer under IMPS is available on how many days in a week?
    A) 4
    B) 5
    C) 6
    D) 7
    View Answer
    Option D
    Explanation
    : 24 hours on all days including holidays
  9. Identify the false statement with respect to IMPS
    A) The customer needs to have a bank account with the bank which has enabled IMPS facility.
    B) Customer should enroll for Mobile Banking Service.
    C) The customer cannot link the same mobile number to more than one account.
    D) The bank will allocate a Mobile Money Identifier (MMID) for each account of the mobile banking customers.
    View Answer
    Option C
    Explanation
    : The customer can link the same mobile number to more than one account subject to feasibility provided by the bank. For this the bank will allocate a Mobile Money Identifier (MMID) for each account of the mobile banking customers. The customer can select the account using this MMID allocated to him / her.
  10. Identify the true statement with respect to IMPS.
    A) The charges for remittance through IMPS are decided by NPCI
    B) In IMPS once a payment is initiated it cannot be stopped.
    C) IMPS service is not available on Sunday
    D) All are true
    View Answer
    Option B
    Explanation
    : A) The charges for remittance through IMPS are decided by the individual member banks
    B) is correct
    C) IMPS service is available 24*7 all days of the year.

 

 

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29 Thoughts to “Banking Awareness Set 65 (IMPS)”

  1. Trisha

    8/10
    gud ques.

  2. Taru

    8/10 better than bankersadda

    1. Divaker

      Aaj pta chala @p ko

  3. achiever~Dreamer

    Quality Q ..appreciated 🙂

  4. MiMi

    thank u sir :)))

    1. Divaker

      Welcome back be ready to fight for IBPS

  5. sachin shukla@Target SBI Mains

    ty:)))

  6. AVI™ (Sinchen loveR)

    7/10
    thnxxx

  7. єияιqυє

    AZ is the best !!

  8. Vision

    Identify the true statement with respect to IMPS.
    A) The charges for remittance through IMPS are decided by NPCI
    B) In IMPS once a payment is initiated it cannot be stopped.
    C) IMPS service is not available on Sunday
    D) All are true
    View Answer
    Option C
    Explanation: A) The charges for remittance through IMPS are decided by the individual member banks
    B) is correct
    C) IMPS service is available 24*7 all days of the year.

    ……………
    admin
    yhan uper btaaya gya
    24 hours on all days including holidays
    den how c is coorect?

    1. Suraj

      yes it will be B)

      1. Vision

        ty need to update dere Admin

        1. Suraj

          updated now :))

  9. version 2.4.4..

    Identify the false statement with respect to IMPS
    A) The customer needs to have a bank account with the bank which has enabled IMPS facility.
    B) Customer should enroll for Mobile Banking Service.
    C) The customer cannot link the same mobile number to more than one account.
    D) The bank will allocate a Mobile Money Identifier (MMID) for each account of the mobile banking customers.
    View Answer
    Option C
    Explanation: The customer can link the same mobile number to more than one account subject to feasibility provided by the bank. For this the bank will allocate a Mobile Money Identifier (MMID) for each account of the mobile banking customers. The customer can select the account using this MMID allocated to him / her.
    . A unique MMID and mobile number combination helps in identifying the beneficiary’s details. Multiple MMIDs can be linked to same mobile number.

    Read more at:
    http://economictimes.indiatimes.comm/articleshow/52585639.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

    1. version 2.4.4..

      @s@surajskt:disqus sir check c option esme to kah raha h ki more than one can be link pher ye false kaise hua

      1. Suraj

        so see option c) what it is written.. The customer cannot link the same mobile number to more than one account.

        1. version 2.4.4..

          mimd for more than one account

          1. Suraj

            yes: one multiple mmid can be linked to one mobile number but here see the statement what it says:
            The bank will allocate a Mobile Money Identifier (MMID) for each account of the mobile banking customers.
            each account and not each mobile number.
            suppose you have a saving account and one current account, for both account you will get a different mmid that will be linked to the same mobile number. So option D) is correct.. it is not talking about mobile number but account type

          2. version 2.4.4..

            ty sir:) got it

    2. Ambika

      kitna confuse kar diya tumne to :p

  10. Ambika

    thankyou sir 🙂

  11. PHOENIX

    Ty sir :)????

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