1. Which of the Following is not a Payment Instrument?
Cheque
Debit Card
RTGS
ACH
Payment of Rs.2 Lakhs is a
Low Value Payment
High Value payment
Can be Either
None
Who is the Regulator for the banks in India?
SWIFT
NPCI
RBI
Self Regulated
Monthly EMI payment is a example of which Payment Type
Direct Credit Transfer
Direct Debit transfer
Line of Credit
Loan Repayment
With necessary reporting to Regulator, two Banks can have direct partnership and enable payments with their in-house payment systems.
True
False
What are the 2 ways of Clearing in payment systems
Multilateral
Unilateral
Bilateral
Correspondent Method
When should the Banks send the ACH Files to the clearing System
Bank - Opening Time
Bank - End of Day
Session End
Any time
Once a Day when the Bank chooses
Who needs the Mandate information which the customer Authorized
Creditor Bank
Debtor Bank
Regulator
None of the above
Can a Bank without Participating in the clearing system would be able to send payments to another bank?
No
Yes.
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