CAIIB Elective Unit 10 Electronic Clearing and Settlement Systems

MICR :Magnetic Ink Character Recognition
OCR :Optical Character Recognition
CTS : Cheque Truncation System
ICS :Image Based Clearing System
ACS : Automated Clearing System
DNS :Designated Net Settlement System
RTGS :Real Time Gross Settlement
DVP : Delivery vs Payments
PVP :Payment Vs Payments
SSS : Securities Settlement Systems
NG RTGS : New Generation RTGS
CPSS IOS CO :Committee on Payment And Settlement Systems and The International Organisation of Securities Commission
FMI :Financial Market Infrastructure
NEFT :National Electronic Fund Transfer
BHIM :Bharat Interface for Money
UPI : Unified Payments for Interface
VPA : Virtual Payments Address
EDI : Electronic Data InterchangeUPI
USSD :
SFMS :Structured Financial Messaging System
CFMS :Centralized Fund Management System
API :Application Program Interface
NACH : National Automated Clearing House
NUUP :National Unified USSD platform


..........

Cheque Processing fee in clearing house??
Rs 2,borne by banks

chq details band
6 digit chq no
centre code -9 digit -city bank branch
type of account -10 saving,11 current
13 digit

RTGS uses which type of settlement??
Gross

RTGS in India uses which type of structure ?
Y shaped

CHAPS uses which type of structure ?
L shaped

iso standard of NG RTGS ?
ISO 20022
.......NEFT .........
Max Cash based Neft amount?
Rs 50,000 per transaction

.....BHIM.....

Sagar Singh:
Retail Banking  -  BHIM

BHIM , acronym for Bharat Interface for Money .

✅ The app is managed by National Payments Corporation of India (NPCI) and developed on UPI platform . With this App , you can make direct bank to bank transfers instantly by using your mobile number or payment address . Using this App , you can send money , request for money , scan and pay for merchant transactions and check bank accounts .

✅ One needs to have a smart phone, Internet connection and mobile phone number linked to bank account of a member bank to download BHIM app and utilise the application . One with feature phone has to dial *99# to utilise the BHIM . Your bank account needs to have been enabled for mobile banking by your banker . Currently you can attach only one bank account to the BHIM app .

✅ If you want to transfer to a beneficiary account of a bank which is also a member of BHIM , you need to just give mobile number of the beneficiary to complete the transaction .

✅ Otherwise , you have to give account number, IFSC Code , Beneficiary name etc to complete the transaction . The transactions can be done 24 X 7 .

✅ The transfer limit is Rs 10,000 per transaction with a daily limit of Rs 20,000 per account . One can do maximum 20 transactions per day .

✅ There are no charges levied by NPCI for making transactions . However individual banks my charge fees for the transactions done through BHIM .

✅ BHIM is now available in following languages :

English , Hindi , Bengali , Gujarati , Kannada , Malayalam , Oriya,Tamil and Telugu

BENEFITS OF BHIM APP

✅ BHIM App allows a customer to pay directly from a bank account to different merchants, by using sacn and pay without the hassle of typing credit card details, IFSC code, or net banking passwords.

​✅ It is safe as the customers only share a virtual address and provide no other sensitive information like account number , credit card details etc .

✅ No need to add money to BHIM as it has no wallet

✅ While e-wallets like paytm , mobikwik allow only merchant / biller payments , BHIM can be used for any account to account transfer

✅ The service is instant and available 24X7, even on public/bank holidays


......Bharat QR -.......
 A QR code consists of black squares arranged in a square grid on a white background, which can be read by an imaging device such as a camera.
QR contains information about the item to which it is attached.

Answer the following questions regarding Bharat QR.

1. Bharat QR is ...... Mobile payment solution

a. P2P (Person to Person)
b. P2M (Person to Merchant)
c. M2P (Merchant to Person)
d. M2M (Merchant to Merchant)

2. Bharat QR is mutually derived among ...... payment networks. (i) NPCI, (ii) Visa, (iii) Mastercard

a. Only (i) and (ii)
b. Only (i) and (iii)
c. Only (ii) and (iii)
d. (i), (ii) and (iii)

3. What are the charges for using Bharat QR?

a. No additional charges for making transaction through Bharat QR
b. Depends on the Bank
c. Depends on the App
d. Depends upon the transaction amount

4. Can multiple bank cards be linked on same App?

a. No. Multiple cards can't be linked in a single app
b. Yes. Multiple cards of multiple banks can be linked in a single app
c. Yes. Multiple cards of the same bank can be linked in a single app
d. None of the above

5. First factor of 2FA for Bharat QR is MPIN for the mobile application login. Second factor is taken as ...... (i) MPIN, (ii) OTP, (iii) ATM pin

a. Only (i) or (ii)
b. Only (i) or (iii)
c. Only (ii) or (iii)
d. (i) or (ii) or (iii)

6. What is the Daily transaction limit?

a. Rs. 10000
b. Rs. 20000
c. Rs. 50000
d. Set at Bank’s end

7. How many Bharat QR transactions can be done in a day?

a. 25
b. There is no limit on number of transactions
c. There is no limit on number of transactions but subject to daily transaction amount limits on your Debit/Credit Cards
d. Set at Bank's end

Answers :

1-b, 2-d, 3-a, 4-c, 5-d, 6-d, 7-c
.......