1. The Bank for international settlemenxts (BIS) is an international organisation of
central banks headquartered in
1. Zurich, Switzerland
2. New York, USA
3. Basel, Switzerland
4. Paris, France
5. Geneva, Switzerland

2. The alphabet ‘P’ IN THE abbreviation EFTPOS stands for
1. Point
2. Private
3. Public
4. Primary
5. Permanent

3. The full form of BBPS is
1. Bill Finger Berger Power Series
2. Best Business Practices
3. Bits Bites Pixel Sprites
4. Bharat Bill Payment System
5. Bill Bharat Public School

4. Which of the following states does not have a Regional Rural Bank?
1. Punjab
2. Goa
3. Uttarakhand
4. Karnataka
5. Himanchal Pradesh

5. In India the regulator of the commodity market is
1. Forward Markets Commission
2. National Stocks Exchange
3. Securities and Exchange Board of India
4. Insurance Regulatory and Development
Authority of India
5. Reserve Bank of India

6. The process of conversion of a physical cheque into electronic form is known as
1. Cheque Negotiation
2. Cheque Endorsement
3. Cheque Truncation
4. Cheque Alteranation
5. Cheque Crossing

7. The earlier system of Prime Lending Rate (PLR) has now been replaced by
1. Reverse Repo rate System
2. Repo Rate System
3. Exchange Rate System
4. Bank Rate System
5. Base Rate System

8. A banknote of which a portion is missing or which is composed of more than two
pieces is known as
1. A mutilated note
2. A counterfeit note
3. A soiled note
4. A damaged note
5. A defective note

9. International Standards on Compating Money Laundering and the Financing of
Terrorism and Proliferation are framed by
1. KYC
2. FATF
3. TAPI
4. ICOA
5. SWIFT

10. The National Payment Corporation of India (NPCI) launched a mobile based payment facility. This facility is known as
1. NEFT
2. RTGS
3. IMPS
4. USSD
5. INSTAPAY

ANSWERS
1. 3
An international organization fostering the cooperation of central banks and international monetary policy makers. Established in 1930 , it is the oldest international financial organization. It”fosters international monetary and financial cooperation and serves as a bank for central banks”. It has 60 members and Reserve Bank of India is also a member.

2. 1
EFTPOS- electronic funds transfer at point of sale — is an electronic payment system
involving electronic funds transfers based on the use of payment cards, such as debit or credit cards, at payment terminals located at points of sale.

3. 4
Bharat Bill Payment System(BBPS) is an integrated bill payment system in India. We
have multiple channels to pay electricity, telephone, gas, cable and other utility bills – through cash, cheque, netbanking, credit card etc. and many middle-men involved such as paytm, ccavenue, billdesk etc. This is an integrated bill payment system for the whole country, to improve efficiency, cut down operation costs and protect customers. Remember: The Nodal body for BBPS is NPCI (National Payment Corporation of India).

4. 2

5. 1

6. 3
Truncation is the process of stopping the flow of the physical cheque issued by a
drawer at some point by the presenting bank en-route to the paying bank branch. In its
place an electronic image of the cheque is transmitted to the paying branch through the clearing house, along with relevant information like data on the MICR band, date
of presentation, presenting bank, etc. Cheque truncation thus obviates the need to move the physical instruments across bank branches, other than in exceptional
circumstances for clearing purposes. CTS has been implemented in New Delhi,
Chennai and Mumbai with effect from February 1, 2008, September 24, 2011 and
April 27, 2013 respectively. After migration of the entire cheque volume from MICR system to CTS, the traditional MICR-based cheque processing has been discontinued across thecountry.

7. 5

8.
Soiled Notes- Soiled notes are those which have become dirty and slightly cut. Notes
which have numbers on two ends, i.e. notes in the denomination of Rs.10 and above
which are in two pieces, are also treated as soiled note. The cut in such notes, should, however, not have passed through the number panels. All these notes can be
exchanged at the counters of any public sector bank branch, any currency chest
branch of a private sector bank or any Issue Office of the Reserve Bank of India.

There is no need to fill any form for doing this. Mutilated Notes- Notes which are in pieces and/or of which the essential portions are missing can also be exchanged. Essential portions in a currency note are name of issuing authority, guarantee, promise clause, signature, Ashoka Pillar emblem/portrait of Mahatma Gandhi, water mark. Refund value of these notes is, however, paid as per RBI (Note Refund) Rules. These can also be exchanged at the counters of any public sector bank branch, any currency chest branch of a private sector bank or any Issue Office of the RBI without filling any form.

9. 2
The Financial Action Task Force (on Money Laundering) ( FATF) is an intergovernmental
organization founded in 1989 on the initiative of the G7 to develop policies to combat
money laundering. In 2001 the purpose expanded to act on terrorism financing . The
FATF Secretariat is housed at the headquarters of the OECD in Paris.

10.
Immediate Payment Service (IMPS) is one of the most prominent electronic funds transfer systems of India. Started in Nov.-2010. IMPS is real-time remittance service available anytime, anywhere across India.Using IMPS customers can transfer money real-time to any person or to a merchant, for any personal or commercial purpose. IMPS facilities are available in 92 banks all over the country. IMPS is available round-the-clock and operates even during bank holiday, weekends or festive holidays. IMPS can be used on any platform – Mobile, Internet and ATM across
any bank in India.