Economy

2 questions

• 2016 · Question 4 · Banking

  The establishment of ‘Payment Banks’ is being allowed in India to promote financial inclusion. Which of the following statements is/are correct in this context? 1. Mobile telephone companies and supermarket chains that are owned and controlled by residents are eligible to be promoters of Payment Banks. 2. Payment Banks can issue both credit cards and debit cards. 3. Payment Banks cannot undertake lending activities. Select the correct answer using the code given below.

  Choose your answer

  (a)1 and 2 only(b)1 and 3 only(c)2 only(d)1, 2 and 3

  Show answer

  Source: UPSC, Civil Services (Preliminary), General Studies Paper I (opens in a new tab)

• 2016 · Question 29 · Banking

  The term ‘Core Banking Solutions’ is sometimes seen in the news. Which of the following statements best describes/describe this term? 1. It is a networking of a bank’s branches which enables customers to operate their accounts from any branch of the bank on its network regardless of where they open their accounts. 2. It is an effort to increase RBI’s control over commercial banks through computerization. 3. It is a detailed procedure by which a bank with huge non-performing assets is taken over by another bank. Select the correct answer using the code given below.

  Choose your answer

  (a)1 only(b)2 and 3 only(c)1 and 3 only(d)1, 2 and 3

  Show answer

  Source: UPSC, Civil Services (Preliminary), General Studies Paper I (opens in a new tab)