General Awareness Quiz 19th June- Question and Answer for Bank Exam

The General Awareness section constitutes a major part of a competitive examination and needs your undivided attention. The questions which are asked in the exam are generally framed on National News, International News, State News, Sports, Awards, Summits, Schemes, Books & Authors, Ranks & Reports, Important Days, Economy, Defence, Science & Technology etc. To excel in this section of the competitive examinations you are required to cover the above area.

To complement your preparation for General Awareness section of the upcoming exams like SBI Clerk Mains and RBI Assistant Mains we are providing you General Awareness Quiz of 19th June 2020 covering the following topics: Indian Banks’ Association, NPCI, NHAI, NETC.

Q1. Name the organisation, which an umbrella organisation for operating retail payments and settlement systems in India, is an initiative of Reserve Bank of India (RBI) and Indian Banks’ Association (IBA).
(a) SBI
(b) FATF
(c) SEBI
(d) NPCI
(e) NACH

Q2. The NCMC is a contactless smart cards. NCMC stands for-
(a) National Common Mobility Commission
(b) National Common Mobility Card
(c) National Common Mobility Committee
(d) National Common Mobility Corporation
(e) National Common Mobility Credit

Q3. NPCI has been incorporated as a _______________ Company under the provisions of Section 25 of Companies Act 1956 (now Section 8 of Companies Act 2013).
(a) Not for Credit
(b) Not for Banking
(c) Not for Marketing
(d) Not for Loss
(e) Not for Profit

Q4. What is the meaning of “P” in NPCI?
(a) Payees
(b) Products
(c) Payments
(d) Pending’s
(e) Profits

Q5. NHAI has mandated implementation of the NETC program for all national highways. NETC stands for-
(a) National Electronic Toll Collection
(b) National Electronic Toll Connector
(c) National Electronic Timing Collection
(d) National Electronic Transport Collection
(e) National Electronic Toll Core

Solutions

S1. Ans.(d)
Sol. National Payments Corporation of India (NPCI), an umbrella organisation for operating retail payments and settlement systems in India, is an initiative of Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust Payment & Settlement Infrastructure in India.

S2. Ans.(b)
Sol. NCMC stands for National Common Mobility Card.

S3. Ans.(e)
Sol. Considering the utility nature of the objects of NPCI, it has been incorporated as a “Not for Profit” Company under the provisions of Section 25 of Companies Act 1956 (now Section 8 of Companies Act 2013), with an intention to provide infrastructure to the entire Banking system in India for physical as well as electronic payment and settlement systems.

S4. Ans.(c)
Sol. NPCI stands for National Payments Corporation of India in India.

S5. Ans.(a)
Sol. NHAI has mandated timplementation of the National Electronic Toll Collection (NETC) program for all national highways, which will help reduce the congestion, time taken to process toll at highways and enable reduction in revenue leakages.

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