BANKING GENERAL KNOWLEDGE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Individuals
|
|
|
Merchants
|
|
|
Both Merchants & Individuals
|
|
|
None of the above
|
Detailed explanation-1: -Retail merchants can receive digital payments over the counter, simply by authenticating the Aadhaar number and biometrics of customers to pay for their purchases.
Detailed explanation-2: -“Merchant” means a merchant accepting UPI based payments from its customers towards sale of goods and services by such merchant.
Detailed explanation-3: -Any resident of India holding a valid Aadhaar number and having an Aadhaar linked bank account may use BHIM Aadhaar for purchasing goods/services at merchant locations offering such services.
Detailed explanation-4: -The customer does not need anything except his Aadhaar number. For making payment, customer selects bank from the drop-down menu where customer is having his/her Aadhaar seeded account, enters his Aadhaar Number, enters mobile number (optional) checks the bill amount and provides his/her biometric credentials.
Detailed explanation-5: -Bank of Baroda presents Bhim Baroda Pay-A Unified Payments Interface (UPI) application that lets you transfer funds from any bank account using a Virtual Payment Address (VPA). No need to remember beneficiary details like account number, IFSC, Mobile Number, MMID etc.