E-RUPI is used for which specific purpose or activity?

For a specific purpose or activity

How does E-RUPI differ from UPI in terms of payment mechanism?

E-RUPI is a one-time payment mechanism

UPI is a recurring payment mechanism

E-RUPI requires internet connection

UPI requires only a mobile number

What does Fintech aim to do?

Improve and automate financial services

Simplify administrative processes

Increase interest rates on loans

What are some major Fintech products and services?

Traditional financial institutions

Agriculture and farming support solutions

Which elements are part of the Fintech ecosystem (FE)?

Traditional financial institutions

How can Fintech help in providing greater speed and convenience?

High-speed financial transactions

How does Fintech help in ensuring world-class compliance and security?

Reduction in regulatory scrutiny

How does RegTech assist financial institutions?

Streamlines regulatory processes

What is the purpose of Execution of Compliance in RegTech?

Ensures adherence to regulations

Reduces compliance requirements

Streamlines customer complaints handling

What is the main purpose of Supervisory Technology (SupTech)?

Assist financial supervisory authorities

Streamline financial transactions

How does SupTech improve supervisory efficiency for regulatory authorities?

Streamlines compliance reporting

What are some examples of SupTech tools used by the Reserve Bank of India?

Central Repository of Information of Large Credits (CRILC)

Import Data Processing and Monitoring System (IDPMS)

Export Data Processing and Monitoring System (EDPMS)

Regulatory Monitoring System (RMS)

Compliance Management System (CMS)

What are customers' expectations regarding social media?

To access traditional banking services

What does an Account Aggregator do?

Presents information to customers

Shares data with unauthorized entities

What does Open Banking primarily involve?

Sharing sensitive customer data

Monetizing customer information

How do banks grant access to consumer banking data in Open Banking?

Through application programming interfaces (APIs)

Through third-party intermediaries

What potential hazards exist due to open banking?

Unauthorized access to customer data

How can a malicious third-party app harm a customer's bank account in open banking?

Block access to the bank account

Transfer funds to other accounts

How does e-RUPI differ from traditional payment methods?

No need for a payments app or card

Can only be used for online shopping

Tied to a specific bank account

Which organizations can distribute e-RUPI to beneficiaries?

Only banks and financial institutions

What is the significance of e-RUPI being distributed in digital form?

Limits the number of beneficiaries

Requires a physical card or voucher

How does e-RUPI contribute to financial inclusion?

Enables those without smartphones to use it

Facilitates international transactions

In what way does UPI differ from E-RUPI regarding usage?

Requires a digital payments app

Only for government transactions

How does Fintech simplify financial transactions for consumers?

Making them more accessible and affordable

Providing physical credit cards

Reducing the number of transactions

PPB MODULE C Unit 9 Technology Trends in Banking, e-RUPI, Fintec

Authored by CLD HYDERABAD

Professional Development

Used 2+ times

PPB MODULE C Unit 9 Technology Trends in Banking, e-RUPI, Fintec

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72 questions

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MULTIPLE CHOICE QUESTION

30 sec • 1 pt

E-RUPI was launched by?

Reserve Bank of India (RBI)

National Payments Corporation of India (NPCI)

Securities and Exchange Board of India (SEBI)

Ministry of Finance

State Bank of India

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main purpose of E-RUPI?

Seamless one-time payment mechanism

Online banking

Mobile recharge service

Peer-to-peer lending

Mutual fund investments

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How can e-RUPI be redeemed?

At merchants accepting e-RUPI

Using a digital payments app

Through internet banking

Only on weekdays

By visiting a bank branch

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How is e-RUPI shared with beneficiaries?

Through SMS or QR code

Through email

Through phone call

Through mobile app

Through physical mail

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the maximum amount for which e-RUPI can be issued?

INR 10,000

INR 5,000

INR 15,000

INR 20,000

INR 25,000

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How many banks were live on e-RUPI as of January 2022?

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which users can use e-RUPI even without a smartphone?

Users without a smartphone

Users with a smartphone

Only government officials

Only senior citizens

Students

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PPB MODULE C Unit 9 Technology Trends in Banking, e-RUPI, Fintec

E-RUPI was launched by?

What is the main purpose of E-RUPI?

How can e-RUPI be redeemed?

How is e-RUPI shared with beneficiaries?

What is the maximum amount for which e-RUPI can be issued?

How many banks were live on e-RUPI as of January 2022?

Which users can use e-RUPI even without a smartphone?

In what form is e-RUPI distributed?

Which organization launched E-RUPI?

E-RUPI is used for which specific purpose or activity?

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