SBI GK Questions 2026

RuPay was launched by NPCI in 2012 so that debit and credit card transactions between Indian cardholders and Indian merchants are authorised and settled within the country instead of being switched abroad, and its name joins Rupee with Payment.

A virtual payment address takes the form of a name followed by a bank handle and acts as a pointer to the underlying account, so a payment can be made or collected without revealing the account number or the branch code.

The Immediate Payment Service, launched in 2010, already moved money between banks instantly at every hour, and UPI uses that rail while adding the virtual payment address, interoperable applications and single click authentication.

UPI was launched by NPCI in 2016, and the BHIM application followed in December of the same year, which is why 2016 is the single most asked year in this topic.

NPCI was set up on the initiative of the Reserve Bank of India together with the Indian Banks Association, and ten core promoter banks held its first shareholding, which is why it is owned by the banking industry rather than by the government.

NPCI was incorporated in 2008 as a not for profit company under Section 25 of the Companies Act, 1956 to act as the umbrella organisation for all retail payment systems in India, and it began by taking over the National Financial Switch the following year.

The National Automated Clearing House is a bulk clearing service of that corporation, used for repeated credits such as salary, pension, dividend and subsidy and for repeated debits such as loan instalments and utility bills.

The Magnetic Ink Character Recognition code has nine digits, of which the first three stand for the city, the next three for the bank and the last three for the branch; it is printed in magnetic ink so that a sorting machine can read it during cheque clearing.

UPI was launched in 2016 and allows a customer to pay from a bank account using a virtual payment address, so that the account number and the IFSC need never be shared; it runs on the same immediate settlement arrangement that IMPS introduced.

This Act designates the Reserve Bank as the authority for payment systems, makes its authorisation necessary before any payment system may be operated, and provides for the Board for Regulation and Supervision of Payment and Settlement Systems.

The Indian Financial System Code is made of eleven characters: the first four letters stand for the bank, the fifth is always the digit zero and is kept in reserve for future use, and the last six identify the particular branch.

NEFT holds instructions for a short period, works out what each bank owes the others on balance, and settles only that difference; the batches run every half hour through all twenty four hours, since the service was made available on all days of the year in December 2019.

IMPS was launched by that organisation in 2010 and was the first Indian system to offer interbank transfer instantly at any hour, including Sundays and holidays.

The words in the name say it: real time means the instruction is carried out as it is received, and gross settlement means each instruction is settled by itself rather than set off against others.

NEFT is the nationwide system operated by the Reserve Bank of India for transferring funds from one bank account to another, settled on a deferred net basis in half hourly batches and available on all days of the year since December 2019.

RTGS is meant for large value payments, and the Reserve Bank has fixed a floor of two lakh rupees for a remittance through it, while setting no ceiling of its own on the amount.

The Data Control Language governs who may do what inside the database: GRANT gives a user a privilege such as the right to read or to update a table, and REVOKE withdraws a privilege already given.

MongoDB stores data as documents in a flexible, JSON-like form instead of as rows in tables with a fixed set of columns, and it is queried through its own interface rather than mainly through SQL, which makes it the standard example of a NoSQL database in exam papers.

A table is in second normal form when it is already in first normal form and no non-key attribute depends on only a part of a composite primary key; such a partial dependency is removed by moving that attribute into a table of its own.

The degree of a relation counts its attributes, that is its columns, so a student table holding roll number, name, class and marks has degree four whatever the number of students in it.