Tag: bank 2 - accounts maintained by a bank

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Questions Related to bank 2 - accounts maintained by a bank

Multiple choice business organisation and correspondence bank 2 - accounts maintained by a bank functions and services of banks role of banks in economic development and modes of money transfer accounts and other services

IMPS transactions can be done in which of the following way(s)?

  1. Using Mobile number & MMID (P2P)

  2. Using Account number & IFS Code (P2A)

  3. Using Aadhaar number (ABRS)

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

IMPS is the process of transferring funds through mobile phones. IMPS stands for Immediate Payment Service. The service of IMPS is available 24/7 throughout the year including bank holidays. It offers an inter bank electronic fund transfer service through the use of mobile phones. IMPS can be done in the following ways:a) Using Mobile number & MMID (P2P) b) Using Account number & IFS Code (P2A)c) Using Aadhaar number (ABRS)

Multiple choice business organisation and correspondence bank 2 - accounts maintained by a bank functions and services of banks role of banks in economic development and modes of money transfer accounts and other services

What is the maximum amount PER transaction that can be done through NEFT for cash-based transactions?

  1. Rs 25000

  2. Rs 30000

  3. Rs 50000

  4. No limit
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

According to RBI guidelines, the maximum limit for cash-based NEFT transactions is Rs 50,000 per transaction.

Multiple choice business organisation and correspondence bank 2 - accounts maintained by a bank functions and services of banks role of banks in economic development and modes of money transfer accounts and other services

Projections and responses to queries are Information output characteristics associated with ______________________.

  1. Decision Support System (DSS)

  2. Management Information System (MIS)

  3. Executive Support System (ESS)

  4. Transaction Processing System (TPS)
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Projections and responses to queries are Information output characteristics associated with Executive Support System (ESS). Executive Support System is also known as Executive Information System. It helps to provide easy access to internal and external information relevant to organizational goals. It also supports decision-making needs.

Multiple choice business organisation and correspondence bank 2 - accounts maintained by a bank functions and services of banks role of banks in economic development and modes of money transfer accounts and other services

Summary transaction data, high-volume data, and simple models are information inputs characteristic of _________________.

  1. Decision Support System (DSS)

  2. Management Information System (MIS)

  3. Executive Support System (ESS)

  4. Transaction Processing System (TPS)
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Summary transaction data, high-volume data, and simple models are information inputs characteristic of Management Information System(MIS). Management Information System can be defined as an information system which is used for decision-making purpose and for maintaining coordination in the organization. It also helps to visualize the information of the organization.

Multiple choice business organisation and correspondence bank 2 - accounts maintained by a bank functions and services of banks role of banks in economic development and modes of money transfer accounts and other services

The information of MIS comes from the _____.

  1. Internal source

  2. External source

  3. Both internal and external source

  4. None of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The information of MIS comes from the boot internal and external source. MIS is normally found in manufacturing sector. A Management Information System can be defined as an information based system which is used for the decision -making purpose and for maintaining coordination in an organization. It helps to visualize the information of the organization.

Multiple choice business organisation and correspondence bank 2 - accounts maintained by a bank functions and services of banks role of banks in economic development and modes of money transfer accounts and other services

______________ system can be any organized combination of people, hardware, software, communications networks and data resources that collects, transforms and disseminates information in an organization.

  1. Information

  2. Integrated

  3. Horizontal

  4. Vertical
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Information system can be any organized combination of people, hardware, software, communications networks and data resources that collects, transforms and disseminates information in an organization. Information system basically helps to deliver the information to the concerned persons to get all the activities done in an efficient manner to run the organization in a proper way.

Multiple choice business organisation and correspondence bank 2 - accounts maintained by a bank functions and services of banks role of banks in economic development and modes of money transfer accounts and other services

MIS normally found in a manufacturing organization will not be suitable in the ______.

  1. Service sector

  2. Banking sector

  3. Agriculture sector

  4. Transportation
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

MIS normally found in a manufacturing organization will not be suitable in the service sector. MIS is normally found in manufacturing sector. A Management Information System can be defined as an information based system which is used for the decision -making purpose and for maintaining coordination in an organization. It helps to visualize the information of the organization.

Multiple choice business organisation and correspondence bank 2 - accounts maintained by a bank functions and services of banks role of banks in economic development and modes of money transfer accounts and other services

Information system recommended by the study group is an important tool ______________.

  1. to determine the quantum of credit

  2. to watch end-use of credit

  3. to detect any incipient sickness to facilitate taking timely action

  4. All the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

D.

A group decision support system is an interactive computer-based system. 

It facilitates a number of decision-makers who are working together in a group to find solutions to problems that are unstructured in nature. 

They take input from multiple users interacting simultaneously with the systems to arrive at a decision as a group. Also, the tools and techniques provided by them improve the quality and effectiveness of the group meetings.

Multiple choice business organisation and correspondence bank 2 - accounts maintained by a bank functions and services of banks role of banks in economic development and modes of money transfer accounts and other services

In ECS do you get interest?

  1. Yes

  2. No

  3. No, it is a postal scheme

  4. No, it is taxpaying scheme
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

ECS is an electronic mode of payment / receipt for transactions that are repetitive and periodic in nature. ECS is used by institutions for making bulk payment of amounts towards distribution of dividend, interest, salary, pension, etc., or for bulk collection of amounts towards telephone / electricity / water dues, cess / tax collections, loan installment repayments, periodic investments in mutual funds, etc. Essentially, ECS facilitates bulk transfer of monies from one bank account to many bank accounts or vice versa using the services of a ECS Centre at a ECS location.

Multiple choice business organisation and correspondence bank 2 - accounts maintained by a bank functions and services of banks role of banks in economic development and modes of money transfer accounts and other services

The use of VSAT is ____________________.

  1. to secure integrated system.

  2. to connect different business of organizations.

  3. to transmit noise.

  4. to transmit data.
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

It offers businesses and government agencies a highly flexible and reliable communication solution in both urban and rural areas. It helps in connecting business organisations. It can be used to provide innovative applications such as tele-medicine, newspapers-on-line, market rates and tele-education even in the most remote areas of our country.