Hello Aspirants,
Welcome to Banking Awareness Quiz in AffairsCloud.com. Here we are creating quiz covering important questions which are common for all the bank exams and other competitive exams.
- The banks will be licensed as payments banks under ______ of the Banking Regulation Act, 1949.
A. Section 21
B. Section 22
C. Section 23
D. Section 24
E. None of the AboveB. Section 22
Explanation:
The payment banks will be licensed as payments banks under Section 22 of the Banking Regulation Act, 1949 and will be registered as public limited company under the Companies Act, 2013. - Payment banks can accept a restricted deposit which is currently limited to _______ per customer account.
A. Rs.1 lakh
B. Rs.3 lakh
C. Rs.2 lakh
D. Rs.5 lakh
E. None of the AboveA. Rs.1 lakh
Explanation:
Payment banks can accept a restricted deposit which is currently limited to Rs. 1 lakh per customer account. - Payment Banks can not issue ________
A. Credit Card
B. Debit Card
C. loans
D. Both (B) and (C)
E. Both (A) and (C)E. Both (A) and (C)
Explanation:
Payment banks cannot issue loans and credit cards while at the same time current account and savings accounts can be operated by such banks. - Any acquisition by the Payment Banks that are more than ____ will require approval of the RBI.
A. 5%
B. 10%
C. 15%
D. 20%
E. None of the AboveA. 5%
Explanation:
Any acquisition of more than 5% will require approval of the RBI. - Which of the following services can be offered by Payment Banks?
A. Debit Cards
B. Online Banking
C. Mobile Banking
D. All of the Above
E. None of the AboveD. All of the Above
Explanation:
Payments banks can issue services like ATM cards, debit cards online banking and mobile banking. - _______ percentage of Payment Bank’s branches must be in the unbanked rural area.
A. 25%
B. 10%
C. 15%
D. 20%
E. None of the AboveA. 25%
Explanation:
25% of Payment Bank’s branches must be in the unbanked rural area. - Committee on Comprehensive Financial Services for Small Businesses and Low Income Households, headed by ________ recommended the formation of a new category of bank called payments bank.
A. NR Madhawan Menon
B. Bimal Jalan
C. Nachiket Mor
D. Y.H. Melagam
E. None of the AboveC. Nachiket Mor
Explanation:
Committee on Comprehensive Financial Services for Small Businesses and Low Income Households, headed by Nachiket Mor recommended the formation of a new category of bank called payments bank. - Reserve Bank of India gave “in-principle” licences to _______ entities to launch payments banks.
A. 10
B. 11
C. 12
D. 13
E. None of the AboveB. 11
Explanation:
Reserve Bank of India gave “in-principle” licences to 11 entities to launch payments banks. They are:-
Aditya Birla Nuvo
Airtel M Commerce Services
Cholamandalam Distribution Services
Department of Posts
FINO PayTech
National Securities Depository
Reliance Industries
Dilip Shanghvi, Sun Pharmaceuticals
Vijay Shekhar Sharma, Paytm
Tech Mahindra
Vodafone M-Pesa. - Which of the following surrendered their “in-principle” to launch payments banks?
A. Cholamandalam Distribution Services
B. Dilip Shanghvi, Sun Pharmaceuticals
C. Tech Mahindra
D. All of the Above
E. None of the AboveD. All of the Above
Explanation:
Three of the 11 entities have surrendered their licenses. They are “Chalomandalam Distribution Services”, “Dilip Shanghvi, Sun Pharmaceuticals” and “Tech Mahindra”. - The “in-principle” license is valid for _____months within which the entities must fulfil the requirements.
A. 12 Months
B. 14 Months
C. 18 Months
D. 24 Months
E. None of the AboveC. 18 Months
Explanation:
The “in-principle” license is valid for 18 months within which the entities must fulfil the requirements.
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