Banking Awareness Quiz : Set – 47
Q.1) The payments banks are given the status of scheduled banks under which of the following banking act?
a) Section 19 (6) (a) of the banking regulation act 1949
b) Section 20 of the banking regulation act 1949
c) Section 32 (6) (a) of the banking regulation act 1949
d) Section 19 of the banking regulation act 1934
e) Section 42 (6) (a) of the banking regulation act 1934
Click Here to View Answer
Ans: e
The payments banks are given the status of scheduled banks under the section 42 (6) (a) of the Reserve Bank of India Act, 1934. However, the words “Payments Bank” have to be used by the companies in their name in order to differentiate it from other banks.
Q.2) The payments banks are given licensed by RBI under which of the following banking act?
a) Section 20 of the banking regulation act 1949
b) Section 15 of the banking regulation act 1949
c) Section 22 of the banking regulation act 1949
d) Section 20 of the banking regulation act 1934
e) Section 42 of the banking regulation act 1949
Click Here to View Answer
Ans: c
The payments banks, which are licensed under section 22 of the Banking Regulation Act 1949, has to mainly accept the demand deposits and provision of payments and remittance services.
Q.3) What is the maximum limit of deposit in the account?
a) Rs.50,000
b) Rs.1,00,000
c) Rs.75,000
d) Rs.1,50,000
e) None of these
Click Here to View Answer
Ans: b
They can’t offer loans but can raise deposits of upto Rs. 1 lakh, and pay interest on these balances just like a savings bank account does.
Q.4) Which of the following launch the first payment bank in india?
a) Vodafone
b) Airtel
c) Department of post
d) Reliance Industries
e) PayTM
Click Here to View Answer
Ans : b
Airtel Payments Bank Limited or Airtel Bank, a subsidiary of Bharti Airtel Limited on Wednesday rolled out a pilot of its banking services in Rajasthan. The pilot is aimed at testing systems and processes ahead of a full scale pan Indian launch. With this, Airtel Bank became the first payments bank in the country to go live. Customers in towns and villages across Rajasthan will now be able to open bank accounts at Airtel retail outlets, which will also act as Airtel banking points and offer a range of basic, convenient banking services.
Q.5) What is the interest rate for deposit in saving account from airtel payment bank ?
a) 6.25%
b) 6.50%
c) 7%
d) 7.25%
e) None of these
Click Here to View Answer
Ans: d
It informs that account can be opened with Aadhaar based paperless e-KYC, with no extra documents required and customer’s Airtel mobile number would be his/her bank account number. The company intends to give an interest rate of 7.25% per annum on deposits in savings accounts.
Q.6) The minimum capital requirement of Payment Banks is Rs?
a) 50 crore
b) 100 crore
c) 500 crore
d) 100 lakh
e) 50 lakh
Click Here to View Answer
Q.7) which of the following launch the second payment bank in india?
a) Vodafone
b) Airtel
c) Department of post
d) Reliance Industries
e) None of these
Click Here to View Answer
Ans: C
India Post Payments Bank (IPPB) kicked off its operations by rolling out pilot services in Raipur and Ranchi. The bank will offer an interest rate of 4.5% on deposits up to Rs.25,000; 5% on deposits of Rs.25,000-50,000 and 5.5% on Rs50,000-1,00,000.
Q.8) what is the percentage to payment banks have to maintain a minimum capital adequacy ratio of its risk weighted asset?
a) 10%
b) 15%
c) 20%
d) 25%
e) 30%
Click Here to View Answer
Ans: b
In view of the inherent risk of a small bank, it shall be required to maintain a minimum capital adequacy ratio of 15% of its risk weighted assets (RWA) on a continuous basis.
Q.9) which of the following are targets for the payment banks?
a) India Migrant labourers
b) Low-income households
c) Small businesses
d) Both b and c
e) All of these
Click Here to View Answer
Ans: e
The poorer citizens of the country who transact only in cash and do not have bank accounts are the targets of these Payment Banks. They will target India’s migrant labourers, low-income households and small businesses, offering savings accounts and remittance services with a low transaction cost.
Q.10) which of the following account can’t be offer by payment banks?
a) current account
b) Saving account
c) Fixed deposit
d) NRI deposit
e) Both c and d
Click Here to View Answer
They offer only current account and savings account in which deposit only up to Rs 1 lakh per customer is permitted.
