Important Codes and Numbers Questions and Answers

Answer: D

Correct answer: HDFC Bank

HDFC Bank said in April 2015 that it would be the first Indian bank to put its mobile banking app on the Apple Watch, and released the service - branded WatchBanking - in July 2015. ICICI Bank launched its own smartwatch app, iWear, later in April 2015, but on Android Wear first; IndusInd Bank’s wearable push, Indus PayWear, came only in 2024.

Answer: C

Correct answer: Geneva, Switzerland

The World Intellectual Property Organization, the UN agency for patents, trademarks and copyright, is headquartered at Geneva.

Answer: B

Correct answer: Query

QSAM is the Query Service on Aadhaar Mapper. It lets a customer check whether their Aadhaar is linked to a bank account, and to which bank - which matters because a direct benefit transfer goes to whichever account is last mapped.

Answer: C

Correct answer: Money

FFMC stands for Full Fledged Money Changer - an entity licensed by the RBI to buy foreign exchange from residents and non-residents and to sell it for private and business travel abroad.

Answer: C

Indusind Bank has launched India’s first digital branch at IndusInd Cybercity Rapid Metro station, Gurgaon. This video branch machine allows customers to connect with the remote teller over a real-time video call and perform regular banking transactions like statement printing, cheque deposits, opening of FD account and encashment, funds transfer along with dispensation of cash.

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.

Answer: D

Correct answer: Airtel Payment Bank

Airtel Payments Bank was the first payments bank to begin operations in India, starting a pilot in Rajasthan in November 2016 and going nationwide in January 2017. Fino and Paytm followed later.

Answer: A

Correct answer: Foreign

FEMA is the Foreign Exchange Management Act, 1999. It replaced the older FERA (Foreign Exchange Regulation Act, 1973) and changed the approach from regulating and penalising foreign exchange dealings to managing them, with contraventions treated as civil rather than criminal matters.

Answer: A

Correct answer: Currency

CMIS is the Reserve Bank’s Currency Management Information System, which tracks the printing, issue, circulation and disposal of banknotes across currency chests.