Internet, Browsers & E-mail
🔒 Log in to tracke-Banking and digital payments
🔒 Log in to tracke-Banking means banking through the bank's secure website or app. NEFT settles in batches with no minimum. RTGS is real time with a minimum of Rs. 2 lakh. IMPS and UPI are instant and run 24x7. Banks never ask for your PIN, OTP or password.
Banking from a distance
e-Banking (net banking) is banking through the bank's secure website. Mobile banking uses the bank's app.
An ATM (Automated Teller Machine) gives cash, balance enquiry, a mini statement and PIN change.
All of them work by sending instructions over secure networks, not paper slips.
Money-transfer systems of India
NPCI (National Payments Corporation of India) was set up in 2008. It runs most retail payment systems.
| System | Full form | Key facts |
|---|---|---|
| NEFT | National Electronic Funds Transfer | Settles in batches (half-hourly). No minimum. 24x7 since December 2019. |
| RTGS | Real Time Gross Settlement | Real time, one transfer at a time. Minimum Rs. 2 lakh. 24x7 since December 2020. |
| IMPS | Immediate Payment Service | Instant, 24x7, through mobile or internet banking. |
| UPI | Unified Payments Interface (2016) | Instant app-to-app transfer. 24x7. |
Watch: The 2 lakh minimum belongs to RTGS. NEFT has no minimum.
Which system to pick
Ask two questions. Is the amount large? Must it move at once?
| Need | System |
|---|---|
| Any amount, batch settlement is fine | NEFT |
| Large amount (Rs. 2 lakh or more), real time | RTGS |
| Instant, through mobile or internet banking | IMPS |
| Instant, using a VPA or QR | UPI |
Example: Sending Rs. 5,00,000 in real time is an RTGS job. Sending Rs. 500 to a friend by QR is UPI.
Bank codes
| Code | Size | Job |
|---|---|---|
| IFSC (Indian Financial System Code) | 11 characters | Identifies the bank branch |
| MICR (Magnetic Ink Character Recognition) | 9 digits | Cheque strip that speeds clearing |
| SWIFT | Not asked | Code for international transfers |
An IFSC such as SBIN0001234 has three parts. SBIN is the bank (4 letters). Then comes 0. Then 001234 is the branch (6 characters).
PIN, CVV, OTP and two factors
- PIN is your secret number at an ATM or UPI app.
- CVV is the 3-digit Card Verification Value on the back of the card.
- OTP is a One Time Password. It works for one login or one payment only.
- Two-factor authentication (2FA) needs two proofs: something you know (password) and something you have or are (OTP, fingerprint).
One stolen password is not enough. That is the point of 2FA.
Safe habits
- Banks never ask for PIN, OTP, CVV or password by call, SMS or mail. The caller is a fraudster.
- Check HTTPS and the padlock before you pay.
- Avoid public Wi-Fi for transactions.
- Unknown links are phishing. Do not tap them.
- Report cyber-fraud on the national helpline 1930.
Tip: If anyone asks for your OTP, refuse. No real bank needs it from you.
Question types you will see
Each type: how to recognise it, the method step by step, and one question to try.
NEFT / RTGS / IMPS / UPI comparison
'Which system has a minimum of 2 lakh', 'which is instant 24x7 by UPI ID', 'full form of NEFT, RTGS, UPI'.
NEFT means batches and no minimum.
RTGS means real time and minimum Rs. 2 lakh.
IMPS means instant, inside banking apps.
UPI means instant app-to-app, built by NPCI.
The systems differ by style, and options mix the styles.
A customer must transfer 25,00,000 rupees immediately, transaction by transaction. The suitable system is:
Show solutionHide solution
Immediate and one by one means real time gross settlement.
The amount is above the 2 lakh minimum.
RTGS
OTP, PIN, CVV and 2FA safety
'Full form of OTP or CVV', 'a caller from the bank asks your OTP, what do you do', or which pair makes two-factor.
OTP is a One Time Password.
CVV is the Card Verification Value, 3 digits.
2FA is a password plus an OTP or biometric.
Never share PIN, OTP or CVV with anyone.
Banks never ask for these, so the asker is a fraudster.
A caller says he is from your bank and asks for the OTP that just arrived. You should:
Show solutionHide solution
Real banks never ask for OTPs.
This is a vishing fraud attempt.
Refuse and disconnect
IFSC, MICR and SWIFT codes
'IFSC has how many characters', 'which code is used for international transfer', 'the 9-digit code on a cheque'.
IFSC is 11 characters.
MICR is 9 digits, on the cheque.
SWIFT is for international transfers.
Each code has one size and one job.
The number of characters in an IFSC code is:
Show solutionHide solution
SBIN0001234 has 4 letters, one 0 and 6 branch characters.
4 + 1 + 6 = 11.
11
ATM and net-banking basics
'ATM stands for', 'which of these can be done at an ATM', 'mobile banking vs net banking'.
ATM means Automated Teller Machine.
Net banking uses the bank's website.
Mobile banking uses the bank's app.
ATM needs the card and PIN.
These are plain definitions.
The full form of ATM is:
Show solutionHide solution
A is Automated.
T is Teller and M is Machine.
Automated Teller Machine
UPI facts
'UPI address format', 'who built UPI', 'year of UPI', or an odd-one-out list of payment systems.
A UPI address is a VPA, written name@bank.
UPI works by VPA or QR, app to app.
NPCI built UPI. It launched in 2016.
BHIM is a UPI app.
UPI needs no account number or IFSC for each payment.
Which of these is in the format of a UPI virtual payment address?
Show solutionHide solution
A VPA looks like name@bank.
So priya@examplebank fits.
priya@examplebank
Safe online payment habits
'Which is a safe practice', 'what to do on an unknown link', 'is public Wi-Fi fine for banking'.
Check HTTPS and the padlock before paying.
Avoid public Wi-Fi for transactions.
Treat unknown links as phishing.
Never share PIN, OTP or password.
Most fraud needs your cooperation, so refusing stops it.
Which is a safe practice while paying online?
Show solutionHide solution
Sharing OTPs and tapping unknown links are unsafe.
Checking HTTPS and the padlock is safe.
Check HTTPS and the padlock before paying
Shortcuts that save time
RTGS is real time, one by one, for large sums: minimum Rs. 2 lakh. NEFT settles in half-hourly batches, for any amount.
What is the minimum amount for RTGS?
Show solutionHide solution
RTGS is meant for large transfers.
The floor is 2 lakh.
Rs. 2 lakh
IFSC has 11 characters: 4 letters for the bank, a zero, then 6 characters for the branch. MICR is the 9-digit cheque strip.
How many characters does an IFSC code have?
Show solutionHide solution
4 for the bank, 1 zero, 6 for the branch.
4 + 1 + 6 = 11.
11
Two-factor means a password (you know) plus an OTP or fingerprint (you have or are). One stolen password is not enough.
Entering a password and then an SMS OTP is an example of:
Show solutionHide solution
Password is one factor.
The OTP is a second factor.
Two-factor authentication
Mistakes to avoid
Where most students lose marks on this subtopic.
Giving NEFT the 2 lakh minimum.
RTGS has the minimum. NEFT has none.
Saying IMPS works only for foreign banks.
IMPS is an Indian instant payment service, 24x7.
Sharing an OTP with a caller who says he is from the bank.
Real banks never ask. Refuse and disconnect.
Counting IFSC as 9 characters.
IFSC has 11 characters. MICR has 9 digits.
Confusing CVV with PIN.
CVV is the 3 digits on the card back. PIN is your secret number.
Quick revision
Read this the night before the exam.
NEFT = batches, no minimum. RTGS = real time, minimum Rs. 2 lakh. IMPS and UPI = instant, 24x7.
NPCI (2008) runs most retail payment systems and built UPI (2016).
UPI address (VPA) looks like name@bank. Payments also work by QR.
IFSC = 11 characters (branch). MICR = 9 digits (cheque). SWIFT = international.
OTP = one time password. CVV = 3 digits on the card back. 2FA = password plus OTP or biometric.
Banks never ask for OTP, PIN or CVV. Cyber-fraud helpline: 1930.
Practice: 20 questions
Sets of 10, mixed across the question types above. Every answer has a step-by-step explanation.
Topic test · 10 questions
Suggested time 5 min · wrong answers go to your mistake notebook automatically.