Economy

5 questions

• 2018 · Question 6 · Banking

  Which one of the following best describes the term “Merchant Discount Rate” sometimes seen in news ?

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  (a)The incentive given by a bank to a merchant for accepting payments through debit cards pertaining to that bank.(b)The amount paid back by banks to their customers when they use debit cards for financial transactions for purchasing goods or services.(c)The charge to a merchant by a bank for accepting payments from his customers through the bank’s debit cards.(d)The incentive given by the Government to merchants for promoting digital payments by their customers through Point of Sale (PoS) machines and debit cards.

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

• 2018 · Question 15 · Banking

  Which one of the following links all the ATMs in India ?

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  (a)Indian Banks’ Association(b)National Securities Depository Limited(c)National Payments Corporation of India(d)Reserve Bank of India

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

• 2018 · Question 16 · Banking

  Consider the following statements : 1. Capital Adequacy Ratio (CAR) is the amount that banks have to maintain in the form of their own funds to offset any loss that banks incur if the account-holders fail to repay dues. 2. CAR is decided by each individual bank. Which of the statements given above is/are correct ?

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  (a)1 only(b)2 only(c)Both 1 and 2(d)Neither 1 nor 2

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

• 2018 · Question 28 · Banking

  With reference to digital payments, consider the following statements : 1. BHIM app allows the user to transfer money to anyone with a UPI-enabled bank account. 2. While a chip-pin debit card has four factors of authentication, BHIM app has only two factors of authentication. Which of the statements given above is/are correct ?

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  (a)1 only(b)2 only(c)Both 1 and 2(d)Neither 1 nor 2

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

• 2018 · Question 96 · Banking

  With reference to the governance of public sector banking in India, consider the following statements : 1. Capital infusion into public sector banks by the Government of India has steadily increased in the last decade. 2. To put the public sector banks in order, the merger of associate banks with the parent State Bank of India has been affected. Which of the statements given above is/are correct ?

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  (a)1 only(b)2 only(c)Both 1 and 2(d)Neither 1 nor 2

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