Network of shared automated teller machines in India is called ____
Answer: D
Correct answer: NFS
The National Financial Switch is the network of shared ATMs: it routes a transaction from the ATM of one bank to the account held with another, which is what makes any card work in almost any machine.
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First bank in India was -
Answer: A
Correct answer: Bank of Hindustan
The Bank of Hindustan, started at Calcutta in 1770 as a department of the agency house Alexander & Co., was the first bank in India. It failed in 1832. The General Bank of India (1786) came later, and the Imperial Bank of India was formed only in 1921 by amalgamating the three presidency banks.
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AMCs are entities, authorised by the RBI under ______ of the Foreign Exchange Management Act, 1999.
Answer: A
Correct answer: Section 10
Authorised money changers are licensed by the Reserve Bank under Section 10 of the Foreign Exchange Management Act, 1999, which is the section that deals with authorised persons in foreign exchange.
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The paid-up capital of NPCI is _______
Answer: C
Correct answer: Rs. 100 crore
NPCI’s paid-up capital is ₹100 crore, against an authorised capital of ₹300 crore. Paid-up capital is money actually received from shareholders; authorised capital is only the maximum permitted.
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The Nainital Bank Limited (NTBL) is a subsidiary of ____________________
Answer: A
Correct answer: Bank of Baroda
The Nainital Bank Limited is a scheduled commercial bank in which Bank of Baroda holds the majority stake, so it operates as a subsidiary of BoB while keeping its own name and licence.
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The minimum maturity period for Masala Bonds raised up to USD 50 million equivalent in INR per financial year should be _____ years
Answer: C
Correct answer: 3 years
For masala bonds raised up to the equivalent of USD 50 million in a financial year, the minimum maturity is 3 years. Above that limit the RBI requires 5 years, the longer tenor being meant to discourage short-term foreign borrowing.
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What is the single mobile application for accessing different bank accounts?
Answer: A
Correct answer: UPI
Unified Payments Interface is the system that lets a single mobile application reach several bank accounts, make payments and collect them, all through one virtual payment address instead of account numbers and IFSC codes.
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The maximum value in PPIs for credit of cross border inward remittance at any point of time shall not exceed _______
Answer: D
Correct answer: Rs. 50,000
A PPI credited with a cross-border inward remittance may not hold more than ₹50,000 at any time. Such remittances may be credited only to full-KYC PPIs, and the limit keeps the channel to genuinely personal remittances.
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Miraj State Bank was acquired by which bank in 1985?
Answer: D
Correct answer: Union Bank of India
Miraj State Bank, a small Maharashtra bank, was amalgamated with Union Bank of India in 1985 under the Reserve Bank’s direction after it ran into trouble.
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The headquarters of ESAF Small Finance Bank is _____
Answer: D
Correct answer: Thrissur
ESAF Small Finance Bank is headquartered at Thrissur, Kerala.
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