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Bharat Bill Payment System BHIM App Banking Awareness Bank PO IBPS

Banking Awareness Questions

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 Private 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 [email protected]

  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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