Bhim UPI MCQ questions

1. What does BHIM stand for?
a) Bharat Interface for Mobile
b) Bharat Interface for Money
c) Bharat Instant Money
d) Bharat Integrated Mobile
Answer: b) Bharat Interface for Money

2. When was BHIM UPI launched?
a) 2014
b) 2015
c) 2016
d) 2017
Answer: d) 2017

3. Which organization developed the BHIM UPI platform?
a) Reserve Bank of India (RBI)
b) Indian Banks’ Association (IBA)
c) National Payments Corporation of India (NPCI)
d) State Bank of India (SBI)
Answer: c) National Payments Corporation of India (NPCI)

4. What is the primary purpose of BHIM UPI?
a) Mobile gaming
b) Digital entertainment
c) Digital payments
d) Social networking
Answer: c) Digital payments

5. Which of the following is NOT a feature of BHIM UPI?
a) Instant money transfer
b) Cash withdrawal from ATMs
c) Payment requests
d) QR code scanning
Answer: b) Cash withdrawal from ATMs

6. How does BHIM UPI facilitate money transfer?
a) Through credit cards
b) Through bank accounts linked to mobile numbers
c) Through physical currency exchange
d) Through email transfers
Answer: b) Through bank accounts linked to mobile numbers

7. Which of the following is NOT required to use BHIM UPI?
a) Internet connection
b) Bank account
c) Mobile number
d) Physical address
Answer: d) Physical address

8. What is the maximum transaction limit for BHIM UPI transactions?
a) Rs. 10,000
b) Rs. 25,000
c) Rs. 50,000
d) Rs. 1,00,000
Answer: d) Rs. 1,00,000

9. Which of the following is the correct syntax to make a BHIM UPI transaction?
a) *99#
b) *99*#
c) *99*UPI#
d) *99*UPI*#
Answer: c) *99*UPI#

10. What is the process to create a BHIM UPI ID?
a) Visit a bank branch
b) Download the BHIM UPI app and register
c) Dial a USSD code
d) Send an SMS to the bank
Answer: b) Download the BHIM UPI app and register

11. How is BHIM UPI different from traditional bank transfers?
a) BHIM UPI requires physical documents
b) BHIM UPI is faster and can be done anytime, anywhere
c) BHIM UPI is only available during banking hours
d) BHIM UPI requires a visit to the bank branch
Answer: b) BHIM UPI is faster and can be done anytime, anywhere

12. Which type of payments can be made using BHIM UPI?
a) Only online purchases
b) Only bill payments
c) Both online and offline transactions
d) Only international payments
Answer: c) Both online and offline transactions

13. What is the transaction fee for BHIM UPI transactions?
a) There is no transaction fee
b) 1% of the transaction amount
c) Rs. 5 per transaction
d) Fixed fee of Rs. 10
Answer: a) There is no transaction fee

14. Which of the following is NOT a BHIM UPI app?
a) Google Pay
b) PhonePe
c) Paytm
d) PayPal
Answer: d) PayPal

15. How does BHIM UPI ensure security during transactions?
a) Through multi-factor authentication
b) Through encryption of data
c) Both a and b
d) None of the above
Answer: c) Both a and b

16. Can BHIM UPI be used for international transactions?
a) Yes
b) No
Answer: b) No

17. What is the main advantage of BHIM UPI over other payment methods?
a) Lower transaction fees
b) Higher transaction limits
c) Faster transactions
d) Global acceptance
Answer: c) Faster transactions

18. Which organization regulates BHIM UPI transactions in India?
a) RBI
b) NPCI
c) SEBI
d) IRDAI
Answer: b) NPCI

19. What is the main benefit of using BHIM UPI for merchants?
a) Increased customer loyalty
b) Lower transaction fees
c) Faster settlements
d) Access to international markets
Answer: c) Faster settlements

20. Which of the following statements is true about BHIM UPI?
a) It can only be used by smartphone users
b) It is available only to Indian citizens
c) It is interoperable across banks
d) It requires a separate bank account
Answer: c) It is interoperable across banks