Top

Payment Banks and Payment Systems

11.

The payments bank will be required to use the words ________ in its name in order to differentiate it from other banks.

Answer: B

No answer description available for this question

Enter details here

12.

What is the maximum balance that any account of payments bank can hold?

Answer: C

Payments bank will initially be restricted to holding a maximum balance of Rs. 100,000 per individual customer.

Enter details here

13.

As per PSS Act 2007 no person other than the _____ can commence or operate a payment system in India.

Answer: C

In terms of Section 4 of the PSS Act, no person other than the Reserve Bank of India (RBI) can commence or operate a payment system in India unless authorised by RBI.

Enter details here

14.

Payments Bank are required to invest minimum _____ per cent of its “demand deposit balances” in Government securities/Treasury Bills with maturity up to one year.

Answer: C

The payments bank cannot undertake lending activities. Apart from amounts maintained as Cash Reserve Ratio (CRR) with RBI on its outside demand and time liabilities, it will be required to invest minimum 75 per cent of its “demand deposit balances” in Government securities/Treasury Bills with maturity up to one year that are recognized by RBI as eligible securities for maintenance of Statutory Liquidity Ratio (SLR) and hold maximum 25 per cent in current and time / fixed deposits with other scheduled commercial banks for operational purposes and liquidity management.

Enter details here

15.

The Voting Rights in Payment Banks will be regulated by ___ ?

Answer: A

Banking Regulation Act, 1949. The voting rights will be regulated by the Banking Regulation Act, 1949.. The 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.

Enter details here

16.

Payment Bank can sell financial products like mutual fund units and insurance policies.

Answer: A

True. Payments banks cannot give loans or issue credit cards. It can sell financial products like mutual fund units and insurance policies.

Enter details here

17.

A payments bank is licensed under ______ of Banking Regulation Act, 1949.

Answer: C

The payments bank will be licensed under Section 22 the Banking Regulation Act, 1949 .

Enter details here

18.

Any shareholder’s voting rights in Payments bank are capped at 10 per cent. This limit can be raised to ___ %

Answer: C

No answer description available for this question

Enter details here

19.

Which of these payments system is not managed by NPCI?

Answer: C

NEFT managed by RBI 

Enter details here

Answer: C

RBI does not envisage payments banks to be “virtual” banks or branchless banks.

Enter details here

Loading…
Tags: Payment Banks and Payment Systems Questions and Answers || Payment Banks and Payment Systems MCQ Questions and Answers || Payment Banks and Payment Systems GK Questions and Answers || Payment Banks and Payment Systems GK MCQ Questions || Payment Banks and Payment Systems Multiple Choice Questions and Answers || Payment Banks and Payment Systems GK || GK on Payment Banks and Payment Systems || Banking Awareness Questions and Answers || Banking Awareness MCQ Questions and Answers || Banking Awareness GK Questions and Answers || GK on Banking Awareness