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JAIIB · Retail Banking & Wealth Management · Module B — Retail Products and Recovery

JAIIB RBWM Unit 11 — Remittance Products: Free MCQs with Explanations

By Swarnakshi Jha (ex-banker) · Updated 20 September 2026 · Paper 4 of the November 2026 cycle (29 November 2026)

This page is a free slice of our JAIIB RBWM question bank for Unit 11 — Remittance Products (Module B — Retail Products and Recovery). The Mock Centre holds 54 questions on this unit alone, every one with a why-right / why-wrong explanation; below are the facts examiners keep returning to, five of those questions to try, and the traps that cost marks.

RBWM · Module B54 MCQs in the Mock Centre5 free belowPaper on 29 November 2026

Key facts examiners test from this unit

  1. Bearer DDs barred by RBI Act Sec 31; paper = ~60% volume but ~11% value; PSS Act 2007; NPCI = RBI + IBA; central systems = RTGS/NEFT/NECS.
  2. NEFT: DNS batches (48 half-hourly); no min/max (walk-ins <₹50,000); 24x7 from 16-12-2019; B+2 credit; free online from 1-1-2020; UTR tracking; Indo-Nepal corridor; delay penalty = repo + 2%.
  3. RTGS: gross, one-by-one, no netting; min ₹2 lakh, NO ceiling; settles in RBI's books (final/ irrevocable); 24x7 from 14-12-2020; credit in 30 minutes, return in 1 hour.

5 free practice questions — tap an option

Five basic questions from this unit. Answers lock on the first tap, exactly as in the exam, and a short explanation opens underneath. The Mock Centre adds the moderate and tough questions, why every other option is wrong, the concept capsule and the exam tip — with your score and revision dates tracked.

Question 1 of 5
RTGS minimum customer transaction:
Why (c): RTGS keeps a velvet rope: customer transactions start at ₹2 LAKH minimum — the system is built for large-value payments.
Question 2 of 5
NACH replaced ECS from:
Why (b): NACH replaced ECS from 1 MAY 2016 — the modern clearing house superseding the legacy system.
Question 3 of 5
NACH is implemented by:
Why (b): NACH — the National Automated Clearing House — is implemented and operated by NPCI, like most modern Indian rails.
Question 4 of 5
NEFT's objectives include: (a) an efficient, secure, economical, reliable EFT system; (b) relieving pressure on paper clearing:
Why (c): NEFT was built with BOTH objectives: an efficient, secure, economical, reliable EFT system AND relief of pressure on paper clearing. Twin goals, both stated.
Question 5 of 5
Consider the following advantages of ECS: (I) No cheques to issue or handle (II) No queues at the bank (III) Efficient for bulk, repetitive payments (IV) Assured timelines for credit/debit. Which are correct?
Why (d): ECS's advantage list is likewise complete — no cheques, no queues, bulk efficiency, assured timelines. 'All the above.'.
0 of 5 answered.

Traps in this unit

Confusable AConfusable BThe difference
RTGSNEFTGross-continuous vs net-batched
16-12-201914-12-2020NEFT vs RTGS 24x7 dates
Practise all 54 questions on Unit 11. The free demo opens a slice of every subject with the same explanations; the RBWM Online-only pass unlocks all 1,912 RBWM questions, the full and module mocks, Smart Revision and the Readiness Score for one year (₹1,299). Not sure where you stand? Take the free 10-question test first.
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Independent study aid — not affiliated with, endorsed by, or sponsored by the Indian Institute of Banking & Finance (IIBF). Exam pattern, dates, fees and passing criteria are set by IIBF — always confirm the current rules at iibf.org.in. Regulatory figures verified as of September 2026; verify from official sources before relying on them in practice.