Quizzes 

Table of Content

Start RBI Quiz of 01st – 04th September 2021

Q.1) RBI has recently come up with master directions on PPIs. Which of the following correctly defines PPIs?
Q.2) Identify the statements correctly related to the Master Directions on Prepaid Payment Instruments (MD-PPIs) notified by RBI. No entity can set up and operate payment systems for PPIs without prior approval / authorisation of RBI. The provisions of MD-PPIs shall apply to all Prepaid Payment Instrument (PPI) Issuers and System Participants Banks seeking approval from the RBI shall apply for the same with NPCI
Q.3) Master Directions on Prepaid Payment Instruments (PPIs) 2021 replaces the existing Master Direction on Issuance and Operation of Prepaid Payment Instruments. As per the new master directions, PPIs that require RBI approval / authorisation prior to issuance are classified under two types. Which of the following options correctly mentions the two types?
Q.4) Which of the following is incorrect with respect to Validity and redemption of PPIs as per the latest master directions of RBI on PPIs? 1.All PPIs issued in the country shall have a minimum validity period of 10 years from the date of last loading / reloading in the PPI. 2. PPIs with no financial transaction for a consecutive period of 10 years shall be made inactive by the PPI issuer after sending a notice to the PPI holder/s. 3. All PPIs issued in the country shall have a minimum validity period of 1 year from the date of last loading / reloading in the PPI. 4. PPIs with no financial transaction for a consecutive period of 5 years shall be made inactive by the PPI issuer after sending a notice to the PPI holder/s.
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About Anuj Jindal

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Anuj Jindal, the founder, is an ex-manager from SBI, with an M.Com from Delhi School of Economics. He also has a JRF in Commerce & Management and NET in HRM, along with more than 4 years of experience in the field of Education.

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