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Banking Awareness Quiz

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1. NEFT is an electronic fund transfer system that operates on a _________ basis which settles
transactions in batches.
A. Domain Net Settlement (DNS)
B. Dened Net Settlement (DNS)
C. Declared Net Settlement (DNS)
D. Deferred Net Settlement (DNS)

2. In National Electronic Funds Transfer (NEFT) maximum amount per transaction is limited to
________
A. Rs.75000
B. Rs.50000
C. Rs.80000
D. Rs.90000

3. The NEFT system facilitates ____cross-border transfer of funds from India to Nepal which is
known as the Indo-Nepal Remittance Facility Scheme.
A. One Way
B. Two Way
C. Multi way
D. None of the Above

4. What is the charge of Inward transactions at destination bank branches in NEFT?
A. Rs.1
B. Rs.1.50
C. Rs.2
D. No Charge

5. The beneciary can expect to get credit for the NEFT transactions within ______business
hours.
A. 2
B. 3
C. 1
D. None of the Above

6. NEFT operates in hourly batches and there are _______ settlements from 8 am to 7 pm on
week days.
A. 3
B. 6
C. 8
D. 12

7. The rst 4 alpha characters in the 11 digit IFSC code represents ________
A. Bank Name
B. Branch Name
C. Place Name
D. None of the Above

8. In NEFT What is the charge for transactions up to Rs 10,000?
A. not exceeding Rs 2.50 (+ Service Tax)
B. not exceeding Rs 5 (+ Service Tax)
C. not exceeding Rs 15 (+ Service Tax)
D. None of the Above

9. In NEFT, What is the charge for transactions above Rs 10,000 upto Rs.1 lakh?
A. not exceeding Rs 2.50 (+ Service Tax)
B. not exceeding Rs 5 (+ Service Tax)
C. not exceeding Rs 15 (+ Service Tax)
D. None of the Above

10. In NEFT What is the charge for transactions above Rs 1 lakh and upto Rs.2 lakh?
A. not exceeding Rs 2.50 (+ Service Tax)
B. not exceeding Rs 5 (+ Service Tax)
C. not exceeding Rs 15 (+ Service Tax)
D. None of the Above

 

ANSWER :-
1)D. Deferred Net Settlement (DNS)
2)B. Rs.50000
3)A. One Way
4)D. No Charge
5)A. 2
6)D. 12
7)A. Bank Name
8)A. not exceeding Rs 2.50 (+ Service Tax)
9)B. not exceeding Rs 5 (+ Service Tax)
10)C. not exceeding Rs 15 (+ Service Tax)

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