Banking Awareness Quiz for Bank Exams 2021- 9th May

Q1. Currently, how many payments banks are operating in India?
(a)5
(b)11
(c)7
(d)6
(e)None of these

Q2. The payments bank will be registered as a public limited company under the Companies Act, 2013, and licensed under Section………….of the Banking Regulation Act, 1949.
(a)Section 21
(b)Section 22
(c) Section 11
(d) Section 16
(e)None of these

Q3. India’s first Payments Bank is………
(a)Airtel Payments Bank
(b)FINO Payments Bank Ltd
(c)Jio Payments Bank Ltd
(d)India Post Payments Bank Ltd
(e)None of these

Q4. The tagline of India Post Payments Bank Ltd is……….
(a)Simplifying Payments For India
(b)Get To Know Us Better
(c)Aapka Bank, Aapke Dwaar
(d)Kahin Bhi Kabhi Bhi
(e)None of these

Q5. Headquarters of Paytm Payments Bank Limited is…………………………
(a)Mumbai
(b)Noida, U.P.
(c)New Delhi
(d)Kolkata
(e)None of these

Q6.Which of the facility cannot be provided by Payments Banks?
(a)Credit Card
(b)ATM Card
(c)Net Banking
(d)Debit Card
(e)None of these

Q7. How much of minimum capital requirement needs to hold initially for Payments Banks?
(a)Rs 25 crore
(b)Rs 50 crore
(c)Rs 75 crore
(d)Rs 100 crore
(e)None of these

Q8. Headquarters of FINO Payments Bank Limited is…………………………
(a)Mumbai
(b)Noida, U.P.
(c)New Delhi
(d)Hyderabad
(e)None of these

Q9. On the recommendations of which committee Payments Banks were established?
(a)Bimal Jalan Committee
(b)Nachiket Mor Committee
(c)C. Rangarajan Committee
(d)G V Ramakrishna Committee
(e)None of these

Q10. Who is the MD & CEO of Paytm Payments Bank?
(a)Sachin Bansal
(b)Vijay Shekhar Sharma
(c)Ritesh Agarwal
(d)Satish Kumar Gupta
(e)None of these

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Solutions

S1.Ans.(d)
Sol. The Reserve Bank of India granted the following 11 applicants the ‘in-principle’ permission to set up the country’s payment banks on 27 November 2014. Only 6 banks are currently operating.

S2.Ans.(b)
Sol. The payments bank will be registered as a public limited company under the Companies Act, 2013, and licensed under Section 22 of the Banking Regulation Act, 1949, with specific licensing conditions restricting its activities mainly to acceptance of demand deposits and provision of payments and remittance services.

S3.Ans.(a)
Sol. Airtel Payments Bank, India’s first Payments Bank, was launched in January 2017, by Bharti Airtel, India’s largest telecom provider, to support the cashless revolution promised by the Government of India.

S4.Ans.(c)
Sol. The tagline of India Post Payments Bank Ltd is Aapka Bank, Aapke Dwaar.

S5.Ans.(b)
Sol. Headquarters of Paytm Payments Bank Limited is Noida, U.P.

S6.Ans.(a)
Sol. Payments Banks cannot provide Credit Card service.

S7.Ans.(d)
Sol. The minimum required paid-up equity capital for opening a payment bank according to RBI is Rs 100 crore. Also, for the first five years of commencement of establishment, the promoter must contribute at least 40% of the paid up equity capital.

S8.Ans.(a)
Sol. Headquarters of FINO Payments Bank Limited is Mumbai.

S9.Ans.(b)
Sol. On 7 January 2014, the Nachiket Mor committee submitted its final report. Among its various recommendations, it recommended the formation of a new category of bank called payments bank.

S10.Ans.(d)
Sol. Satish Kumar Gupta is Managing Director & Chief Executive Officer of Paytm Payments Bank Limited.

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