RBI Grade B Payment Systems — practice questions
49 free MCQs with worked solutions. Tap any question for the answer + explanation, or practice them all in the app.
Practice RBI Grade B Payment Systems in the app →NEFT stands for:RTGS stands for:On a cheque, MICR stands for:IFSC stands for:Payment systems in India are authorised under which Act?Who may operate a payment system without authorisation from RBI?A Payment System Operator has the meaning given for a system:Authorisation to operate a payment system is available on a basis that is:An application for authorisation is submitted through the RBI:Which item is included in net-worth for authorisation?Which item is excluded from net-worth for authorisation?Which is deducted while working out net-worth?Compliance with the net-worth requirement is certified by the:Promoters and promoter groups must meet criteria described as:Which disqualifies a person under the fit and proper test?Whose decision on fit and proper status is final?An incomplete application for authorisation is:FATF publishes a list of jurisdictions under increased:A jurisdiction on neither FATF list is described as:Fresh investment from a non-compliant jurisdiction must stay under:Investors who held stakes before a jurisdiction was listed may:Authorisation given to a new entity is valid on a basis that is:An existing operator not meeting the conditions gets renewals of:Non-compliance with authorisation conditions may lead to:An operator that wants to stop operating applies for:The cooling period RBI may impose runs for:During a cooling period an entity may not submit an application to:The Master Directions on payment system authorisation draw their power from Section 10(2) read with Section 18The Directions come into effect on the day they are:A body corporate joins a promoter group if the promoter holds at least what share of its equity?A mutual fund holding ten per cent of equity is, by that fact alone:The capital requirement for a payment system is set by:A director of a promoter company must have a record of financial integrity, good reputation and:A person declared insolvent and not discharged is:An application that fails the minimum capital requirement is:FATF identifies jurisdictions weak in fighting money laundering and:New investors from non-compliant FATF jurisdictions are not permitted to acquire:Perpetual validity for an existing PSO needs full compliance with authorisation conditions and no major:A PSO that fails to comply within a reasonable time after one-year renewals may have its authorisation:A PSO that wants to stop operating writes to DPSS, Central Office, RBI at:The surrender request must include a copy of a recent:The escrow account statement in a surrender request is certified by the:The Memorandum of Procedure sets out the process and ___ for repaying liabilities.The public notice of closure must appear in English, Hindi and a vernacular language on how many occasions?While extinguishing liabilities, the PSO reports progress to RBI:A cooling period may follow when a CoA is revoked, surrendered, or an application is:New entities set up by promoters of a refused or revoked PSO:Applicants can find guidance in the DPSS FAQs and the RBI website's:A takeover or acquisition of control of a non-bank PSO requires RBI's: