JAIIB Paper 2 Module C Quiz 5

Correct answer: Option 4. NPCI is an umbrella organisation for retail payment and settlement systems in India, established with RBI and Indian Banks‘ Association support. Topic area: NPCI and Digital Payments — NPCI.

Correct answer: Option 4. Unified Payments Interface supports instant payments and interoperable experiences through participating banks and apps. Users should still verify payees and protect credentials. Topic area: NPCI and Digital Payments — UPI.

Correct answer: Option 1. A UPI PIN is used to authorise applicable debit transactions. A person receiving money generally does not need to enter a UPI PIN merely to receive it. Topic area: NPCI and Digital Payments — UPI PIN.

Correct answer: Option 1. IMPS is an instant interbank electronic funds transfer service available through participating banks and channels under its operating rules. Topic area: NPCI and Digital Payments — IMPS.

Correct answer: Option 3. RuPay is India‘s domestic card payment network developed by NPCI. Its cards can be used on enabled acceptance infrastructure according to issuer and network arrangements. Topic area: NPCI and Digital Payments — RuPay.

Correct answer: Option 1. NACH is an NPCI-operated system used for high-volume, repetitive interbank transactions such as bulk credits and debits under scheme rules. Topic area: NPCI and Digital Payments — NACH.

Correct answer: Option 3. AePS enables specified basic banking transactions using Aadhaar authentication through participating banks and business correspondents, subject to the system‘s rules and safeguards. Topic area: NPCI and Digital Payments — AePS.

Correct answer: Option 1. BBPS is an interoperable bill-payment ecosystem that supports bill payment through participating agents and channels under its operating framework. Topic area: NPCI and Digital Payments — BBPS.

Correct answer: Option 1. FASTag enables electronic toll payments using radio-frequency identification linked to an account or payment instrument. Topic area: NPCI and Digital Payments — FASTag.

Correct answer: Option 1. NETC is the electronic toll collection framework associated with interoperable FASTag-based toll payments in India. Topic area: NPCI and Digital Payments — NETC.

Correct answer: Option 2. A collect request should be checked carefully. The payer should approve only if the request and payee are legitimate; a request is not the same as a completed credit. Topic area: NPCI and Digital Payments — UPI collect request.

Correct answer: Option 1. e-RUPI is a prepaid digital voucher designed for specific purposes and can be redeemed by the beneficiary at participating service providers under its design. Topic area: NPCI and Digital Payments — e-RUPI.

Correct answer: Option 4. A VPA such as a handle-based identifier helps route payments through UPI. It is not a PIN or password and should not be treated as proof that a request is genuine. Topic area: NPCI and Digital Payments — UPI ID / Virtual Payment Address (VPA).

Correct answer: Option 2. UPI Lite supports convenient low-value transactions within applicable scheme limits and product rules. Limits and features may change, so current NPCI/RBI guidance should be checked for exam updates. Topic area: NPCI and Digital Payments — UPI Lite.

Correct answer: Option 1. Customers should preserve the transaction reference and report the issue through the app or bank‘s official support. Escalation routes depend on the transaction type and applicable framework. Topic area: NPCI and Digital Payments — UPI transaction dispute.

Correct answer: Option 3. Fraudsters often disguise collect requests as refunds or incoming payments. Verify the details and remember that a PIN generally authorises a debit/payment. Topic area: NPCI and Digital Payments — Digital payment safety: collect request.

Correct answer: Option 1. BHIM is a UPI-based payment application initiative that enables digital payments using supported UPI functionality. Topic area: NPCI and Digital Payments — BHIM.

Correct answer: Option 1. The digital rupee is RBI‘s central bank digital currency. It differs from privately issued crypto-assets and from a conventional bank deposit balance. Topic area: NPCI and Digital Payments — Digital rupee (e₹).

Correct answer: Option 4. Payment aggregators facilitate merchant payments and are subject to the applicable regulatory framework. Their role differs from a bank‘s role in holding deposits or operating settlement infrastructure. Topic area: NPCI and Digital Payments — Payment aggregator.

Correct answer: Option 4. Interoperability makes it possible for compatible apps and participants to transact across providers. Users must still verify the payee and transaction details before approving payment. Topic area: NPCI and Digital Payments — Interoperable QR payment.