Bankers Promotion Tonic 1

1) What is the daily maximum limit for UPI Transactions? (As on 18/01/2020)

2) What is the daily maximum limit for IMPS Transactions? (As on 18/01/2020)

3) Expand VPA?

4) Settlement of RTGS is _____?

5) Settlement of NEFT is _____?

6) Hindi Diwas cebrated on ____?

7) The committee set up by RBI to look into MCLR Mechanism is ____?

8) If bank want to publish photograph of willful defaulters then the liability in the bank should be above ____?

9) KYC policy comes under section ___?

10) Staff meeting to be conducted on ___?

Answers

1) Rs.100000/-

2) Rs.200000/-

3) Virtual Payment Address

4) Real time 

5) Differed Payment

6) 14th Sep

7) Dr.Janak Raj

8) 10 Lakh

9) Sec 35(B) of BR act

10) 3ed Friday of every month

Legal Entity Identifier (LEI)

Legal Entity Identifier (LEI)

RBI introduced LEI (legal entity identifier) for large value transaction in RTGS/NEFT for all payment transaction of 50 crore and above.

It will be implemented from 1st April, 2021.

The directions issued by RBI under section 10(2) of payment and settlement act , 2007.

It's a unique 20 digit global reference number to identify legal entities participating in financial transactions. The identifier is alpha-numeric code based on the ISO 17442 standard developed by the International Organization for Standardization (ISO). the first four characters identifying the local operating unit (LOU) that issued the LEI. Characters 5-18 are the unique alphanumeric string assigned to the organisation by the LOU. The final two characters are checksum digits.

Eg. 5493 00 0IBP32UQZ0KL 24

It will make the identification of an entity easy in global database.