Important Codes and Numbers Questions and Answers

Answer: C

Correct answer: Mumbai

NPCI is headquartered at Mumbai, Maharashtra.

Answer: D

Correct answer: Bridge

APBS is the Aadhaar Payment Bridge System. It is the “bridge” that lets a government department pay a subsidy or benefit using only the beneficiary’s Aadhaar number: the mapper turns that number into the bank account last linked to it, so the department never needs the account details.

Answer: D

The prepaid instruments can be issued as smart cards, magnetic stripe cards, internet accounts, online wallets, mobile accounts, mobile wallets, paper vouchers and any such instruments used to access the prepaid amount.

Answer: D

Correct answer: All of these

Visa, Mastercard and RuPay are all open system instruments: cards usable at any merchant that accepts the network, and at ATMs for cash withdrawal. Openness here means the instrument is not tied to one merchant or a named group of them.

Answer: C

Correct answer: Both (A) and (B)

A closed system instrument can be spent only with the company that issued it. Amazon’s and Cleartrip’s own wallets are both of that kind - the balance buys goods or tickets from that company alone, and no cash can be taken out. Such instruments need no RBI authorisation, precisely because no third party is exposed.

Answer: C

Correct answer: Mobikwik Wallet

Mobikwik is a semi-closed instrument: it can be spent at a group of merchants that have contracted with the issuer to accept it, but it does not permit cash withdrawal. Amazon and Cleartrip wallets are closed - good only with the issuing company itself.

Answer: B

Correct answer: 13

BHIM is available in 13 languages - English, Hindi and eleven other Indian languages - so that a user need not read English to make a UPI payment.

Answer: D

Correct answer: Best

BFD is Best Finger Detection, a step in Aadhaar authentication that tells a resident which of their fingers gives the most reliable biometric match. Knowing it saves repeated failed attempts at the point of authentication.

Answer: D

Correct answer: 12

The Retrieval Reference Number is a 12-digit identifier that the initiating payment service provider stamps on a transaction, and it is what two banks quote to each other when tracing, reconciling or disputing that payment. Twelve is the width of the retrieval reference field in the ISO 8583 message format on which NPCI’s switches run: UPI first filled it as YDDDSSSSSSSS - year, Julian day, then an eight-digit trace number - and NPCI circular UPI/OC-107 later handed the whole field to the trace number so that a single provider could mint far more unique references in a day. The length stayed at twelve throughout.

Answer: B

Correct answer: Enabled

AEBA is the Aadhaar Enabled Bank Account - an account seeded with the holder’s Aadhaar number, which is what allows benefits to be routed to it through the Aadhaar Payment Bridge and lets the holder transact through AePS.