1. What does UPI stand for in the context of ICICI Bank?
a) Unified Payment Integration
b) United Payments Interface
c) Universal Payment Instrument
d) Unified Payments Interface
Answer: d) Unified Payments Interface
2. Which organization developed the UPI platform used by ICICI Bank?
a) National Payments Corporation of India (NPCI)
b) Reserve Bank of India (RBI)
c) Indian Banks’ Association (IBA)
d) Ministry of Finance
Answer: a) National Payments Corporation of India (NPCI)
3. What is ICICI Bank’s UPI-based payment app called?
a) iMobile Pay
b) iPay
c) UPI Pay
d) ICICI UPI
Answer: a) iMobile Pay
4. How does UPI facilitate payments through ICICI Bank?
a) By using QR codes
b) By transferring funds directly from one bank account to another
c) By using virtual payment addresses (VPAs)
d) All of the above
Answer: d) All of the above
5. Which type of transactions can be performed using ICICI Bank UPI?
a) Transfer money to friends and family
b) Pay bills and recharge mobile numbers
c) Make online and offline purchases
d) All of the above
Answer: d) All of the above
6. What is a VPA (Virtual Payment Address) in the context of ICICI Bank UPI?
a) A unique identifier linked to a bank account
b) A physical card issued by the bank
c) A barcode used for scanning payments
d) A type of mobile phone number
Answer: a) A unique identifier linked to a bank account
7. Which of the following is NOT a feature of ICICI Bank UPI?
a) Split bills with friends
b) Invest in mutual funds
c) Book flight tickets
d) Order food online
Answer: c) Book flight tickets
8. What is the maximum transaction limit for UPI payments through ICICI Bank?
a) ₹10,000
b) ₹20,000
c) ₹50,000
d) ₹1,00,000
Answer: d) ₹1,00,000
9. How does ICICI Bank ensure the security of UPI transactions?
a) Through encryption and secure authentication methods
b) By storing user data on external servers
c) By sharing sensitive information with third parties
d) By allowing anonymous transactions
Answer: a) Through encryption and secure authentication methods
10. Which bank accounts are compatible with ICICI Bank UPI?
a) Only accounts from ICICI Bank
b) Accounts from any bank participating in the UPI platform
c) Only accounts from private banks
d) Only accounts from nationalized banks
Answer: b) Accounts from any bank participating in the UPI platform
11. What is the official website of ICICI Bank?
a) www.icicibank.com
b) www.icicipay.com
c) www.iciciupi.in
d) www.iciciupi.com
Answer: a) www.icicibank.com
12. Which technology does ICICI Bank use to facilitate instant money transfers?
a) UPI (Unified Payments Interface)
b) NEFT (National Electronic Funds Transfer)
c) RTGS (Real Time Gross Settlement)
d) IMPS (Immediate Payment Service)
Answer: a) UPI (Unified Payments Interface)
13. How does ICICI Bank generate revenue from its UPI platform?
a) By charging users a transaction fee
b) By displaying advertisements in the app
c) By selling user data to third parties
d) All of the above
Answer: a) By charging users a transaction fee
14. Can ICICI Bank UPI be used for international transactions?
a) Yes
b) No
c) Only in select countries
d) Only with specific banks
Answer: b) No
15. What is the minimum transaction amount for UPI payments through ICICI Bank?
a) ₹1
b) ₹10
c) ₹50
d) ₹100
Answer: a) ₹1
16. What is the role of the VPA (Virtual Payment Address) in UPI transactions?
a) It replaces the need for a bank account number and IFSC code
b) It acts as a password for authentication
c) It is used to track the transaction history
d) It determines the transaction fee
Answer: a) It replaces the need for a bank account number and IFSC code
17. What is the customer support mechanism available for ICICI Bank UPI users?
a) ICICI Bank call center
b) In-app chat support
c) Email support
d) All of the above
Answer: d) All of the above
18. Can ICICI Bank UPI be used for merchant payments?
a) Yes
b) No
c) Only for specific merchants
d) Only for online payments
Answer: a) Yes
19. How does ICICI Bank authenticate transactions?
a) OTP (One Time Password)
b) Biometric verification
c) PIN (Personal Identification Number)
d) All of the above
Answer: d) All of the above
20. Which regulatory body oversees UPI-based transactions in India?
a) National Payments Corporation of India (NPCI)
b) Reserve Bank of India (RBI)
c) Securities and Exchange Board of India (SEBI)
d) Telecom Regulatory Authority of India (TRAI)
Answer: a) National Payments Corporation of India (NPCI)