Important Codes and Numbers Questions and Answers

Answer: B

In 2014, Kotak Mahindra Bank announced it was acquiring Bengalaru-headquartered ING Vysya Bank in an all-stock deal. ING shareholders will get 725 Kotak Bank shares for every 1,000 shares they hold. The deal will make Kotak the fourth-largest private bank in the country in terms of total business

Answer: A

Correct answer: 1 October 2016

The Insolvency and Bankruptcy Board of India was established on 1 October 2016 under the Insolvency and Bankruptcy Code, 2016. It regulates the insolvency professionals, their agencies and the information utilities that the Code created.

Answer: B

Correct answer: Beijing, China

The Asian Infrastructure Investment Bank, founded in 2016 on Chinese initiative, has its headquarters at Beijing. India is its second largest shareholder after China.

Answer: B

Correct answer: Issuer Identification Number

IIN is the Issuer Identification Number - the leading digits of a card number that identify the bank or institution that issued the card. It is the same thing as the older term BIN, Bank Identification Number.

Answer: C

Correct answer: Check digit

A PAN has ten characters: five letters, four digits, and a final letter. That last letter is an alphabetic check digit, computed from the nine characters before it, so a mistyped PAN usually fails the check rather than pointing at somebody else’s account. The fourth character is the one that shows the type of holder (P for an individual, C for a company, and so on), and the fifth is the first letter of the surname.

Answer: B

Correct answer: Rs. 5000

The RBI caps a financial transaction done over the *99# (USSD) channel at ₹5,000. The channel exists for feature phones with no internet, so the limit is deliberately modest - the security of a USSD session is weaker than that of an app.

Answer: D

Correct answer: Chennai

Equitas Small Finance Bank is headquartered at Chennai, Tamil Nadu, and converted from Equitas Holdings’ microfinance business.

Answer: C

Correct answer: HSBC

HSBC installed the first ATM in India, at Mumbai in 1987. Indian banks followed over the next few years, and the ATM network grew rapidly only after the National Financial Switch made cards work across banks.

Answer: B

Correct answer: Varanasi

Utkarsh Small Finance Bank is headquartered at Varanasi, Uttar Pradesh.

Answer: A

Correct answer: ICICI

ICICI Bank, in association with American Express, launched India’s first transparent credit card - a card made of clear plastic, so the design is visible through the body of the card.