NPCI is a not-for-profit organisation registered under ______ of the Companies Act 2013.
Answer: C
Correct answer: Section 8
NPCI is registered under Section 8 of the Companies Act, 2013, the section for companies formed to promote a useful object and which apply their profits to that object instead of paying dividends. That is what makes NPCI a not-for-profit.
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ICICI bank acquired Bank of Madura was headquartered in which city of India ?
Answer: D
Bank of Madura was established in 1943 by Karumuttu Thiagarajan Chettiar. Bank of Madura was a Chettiar bank with a large customer base of 2 million plus customers and a network of more than 280 branches and 40+ ATMs centres spread across about 100 cities in India. The bank merged with ICICI Bank Limited, under Section 44A of the Banking Regulation Act, 1949. The Reserve Bank of India approved the merger effective 10 March 2001. It was headquartered at Madurai.
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One can use _______ UPI application on the same mobile phone.
Answer: C
Correct answer: More than one
Nothing stops a user from installing more than one UPI application on the same phone. UPI is an interface rather than an app, so several apps - BHIM and a bank’s own app, say - can each register their own virtual payment address against the same bank account.
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F in NFS?
Answer: A
Correct answer: Financial
NFS is the National Financial Switch, the inter-bank ATM network run by NPCI. It is what lets a card issued by one bank be used in another bank’s ATM, and it carries the great majority of India’s interbank ATM traffic.
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_____are issued by a company to a consumer for buying goods and services exclusively from that company.
Answer: A
Correct answer: Closed System Payment Instruments
Closed system instruments are issued by a company for buying goods and services from that company alone. Cash withdrawal and redemption elsewhere are not permitted, and because no third party is exposed, the RBI does not require authorisation to issue them.
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Insolvency and Bankruptcy Code was passed by Lok Sabha on ____
Answer: D
Correct answer: 5 May 2016
The Insolvency and Bankruptcy Code was passed by the Lok Sabha on 5 May 2016 and by the Rajya Sabha six days later, receiving assent on 28 May 2016. It replaced a scattered set of older laws with a single time-bound resolution process.
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NCLAT was constituted on _______
Answer: A
Correct answer: 1 June 2016
The National Company Law Appellate Tribunal was constituted on 1 June 2016, the same day as the NCLT, so that appeals had a forum from the moment the tribunal began work.
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Who among the following is the Chairperson of IBBI?
Answer: D
Correct answer: M.S.Sahoo
M. S. Sahoo was the first Chairperson of the Insolvency and Bankruptcy Board of India, appointed on its establishment in 2016 for a five-year term. Ajay Tyagi, offered as a distractor, chaired SEBI over much the same period.
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The headquarters of Fincare Small Finance Bank is _____
Answer: D
Correct answer: Bengaluru
Fincare Small Finance Bank is headquartered at Bengaluru, Karnataka.
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The Rupee denominated bonds can only be subscribed by a _______
Answer: B
Correct answer: resident of a country
Masala bonds may be subscribed only by a resident of a country that is a member of the Financial Action Task Force, or of a FATF-style regional body, and whose securities regulator is a signatory to the IOSCO agreement. The residence test is about the country’s standing on money laundering, which is why NRI or PIO status is not the criterion.
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