Banking and Financial Systems — MCQ Practice

Consider the following statements about the National Critical Information Infrastructure Protection Centre (NCIIPC): 1. It operates under the Ministry of Electronics and Information Technology 2. It has the authority to conduct cybersecurity audits of private banks 3. It coordinates with international agencies for threat intelligence sharing 4. It can impose penalties on banks for cybersecurity violations Which of the statements given above are correct?

Which of the following cyber security measures is/are mandated by RBI for banks under the Master Direction on Cyber Security Framework? 1. Implementation of multi-factor authentication for all digital transactions 2. Establishment of a dedicated Cyber Security Operations Center (SOC) 3. Mandatory reporting of cyber incidents within 2 hours of detection 4. Annual third-party cybersecurity audits by RBI-empaneled auditors

The Payment and Settlement Systems Act, 2007 empowers the Reserve Bank of India to: 1. Regulate and supervise all payment systems in India 2. Prescribe standards for electronic fund transfers 3. Impose penalties for unauthorized payment system operations 4. Authorize foreign payment system operators in India

Consider the following about UPI (Unified Payments Interface) security architecture: 1. It uses tokenization to protect sensitive card data 2. All UPI transactions require biometric authentication 3. It employs device binding for additional security 4. Transaction limits are set to minimize fraud impact Which of the statements given above are correct?

Which of the following cyber incidents would be classified as affecting 'critical information infrastructure' under the IT Act 2000? 1. Ransomware attack on a major public sector bank's core banking system 2. Data breach at a small cooperative bank affecting 1000 customers 3. DDoS attack on the National Payments Corporation of India (NPCI) 4. Phishing attack targeting individual bank customers