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This PDF Capsule contains all Banking and Economy Related news and events for the month of August 2019
along with questions.
1. India 7th largest economy in terms of GDP in 2018, US on top: World Bank
India has been ranked at 7th in terms of GDP in the Q1. Rank of India in terms of GDP
World Bank’s Gross Domestic Product (GDP) rankings in as per World Bank?
2018. In 2018, India’s GDP was $2.72 trillion.
The US is on the top with a GDP of $20.5 trillion,
followed by China on second with $13.6 trillion GDP.
Third is Japan ($4.9 trillion), Germany ($3.9 trillion) is
fourth, UK ($2.82 trillion) is fifth and France ($2.77
trillion) is sixth.
In 2017, India had overtaken France as the sixth-largest
economy.
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4. SBI (Shanghai) becomes 1st Indian bank to link up with China payment system
The State Bank of India (Shanghai branch) has become Q1. 1st Indian bank to link up with
the first Indian Bank to be connected to the connected China payment system?- SBI
to China’s National Advance Payment System (CNAPS). Q2. Name of Payment system of
CNAPS is a real-time settlement services for all payments China?- CNAPS and CIPS
cleared in mainland China, as well as in all clearing banks Q3. CNAPS is a Payments system of
in offshore yuan centers, such as Hong Kong. The CNAPS which country?
system is complemented by its international
counterpart, the CIPS (China International Payments
System or Cross-Border Inter-Bank Payment System),
launched in 2015 with the aim of boosting international
use of the Chinese currency, yuan.
SBI is the only Indian Bank to have obtained the license
to do business in local currency and also inducted to the
CNAPS.
5. NHB launches Liquidity Infusion Facility (LIFt) Scheme for Housing Finance
Companies
National Housing Bank (NHB) has launched a Liquidity Q1. Outlay for Liquidity Infusion
Infusion Facility (LIFt) Scheme for Housing Finance Facility (LIFt) Scheme for Housing
Companies to support Housing Finance Companies in Finance Companies?
creating individual housing loan portfolio that falls under Q2. Liquidity Infusion Facility (LIFt)
the priority sector. Scheme for Housing Finance
Government has allocated an amount of ₹ 10,000 crore Companies will be delivered by?
for this scheme. The maximum amount that can be
drawn under this scheme shall not exceed ₹ 500 crore
per HFC
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10. Microsoft partners with AGTB for world’s first fully digital trade bank
Microsoft and Publicis Sapient have partnered with Q1. World’s first fully digital trade
Anglo-Gulf Trade Bank (AGTB) to launch the world’s first bank?
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end-to-end digital trade finance bank. AGTB is Q2. AGTB is headquartered at?
headquartered in Abu Dhabi, UAE.
Publicis Sapient will function as a digital partner of the
bank, utilizing Microsoft’s intelligent Cloud-based
security and data solutions.
This has made AGTB the very first trade bank that is fully
digital from the outset. Trade finance represents the
financial instruments and products that are used by
companies to facilitate international trade and
commerce.
National Electronic Funds Transfer (NEFT) m will be made available on a 24×7 basis from December
2019.
All categories of billers (except prepaid recharges) who provide for recurring bill payments will be
permitted to participate in the Bharat Bill Payment System (BBPS).
It has been decided to enable diversification of risk and encourage innovation and competition by
offering ‘on tap’ authorisation to entities desirous to function/operate/provide platforms for (i)
Bharat Bill Payment Operating Unit (BBPOU); (ii) Trade Receivables Discounting System (TReDS); and
(iii) White Label ATMs (WLAs).
the Reserve Bank will also facilitate the creation of a Central Payment Fraud Registry for tracking
payment system frauds. Participants in payment systems will be provided access to this registry for
near-real time fraud monitoring. The aggregated fraud data will be published to disseminate
information on emerging risks.
In the area of banking regulation, it has been decided to reduce the risk weight for consumer credit
including personal loans, but excluding credit card receivables, to 100 per cent from 125 per cent or
higher.
Two measures to enhance credit flow to the non-banking financial companies (NBFC) sector
It has been decided to raise a bank’s exposure to a single NBFC to 20 per cent of Tier-I capital of the
bank
In order to augment the flow of credit to priority sectors that contribute significantly to exports and
employment, it has been decided to allow bank lending to registered NBFCs (other than MFIs) for on-
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lending to (i) agriculture (investment credit) up to ₹ 10 lakhs; (ii) Micro and Small Enterprises up to ₹
20 lakhs; and (iii) housing up to ₹ 20 lakhs per borrower (up from ₹ 10 lakhs at present), to be
classified as priority sector lending.
12. Apple issues Apple Credit Card in partnership with Goldman Sachs
Apple in partnership with Goldman Sachs has started the Q1. Issuing Bank/partner of Apple
issue of its Credit Card that is named “Apple Card”. The for Apple Card?
issue has been started from August 06, 2019. Q2. Name of Apple credit card?-
It is a virtual credit card that is built-in the Apple Pay Apple card
App and hence lives on an iPhone. The physical version
of the Apple Card does not have any number like other
credit cards. Even CVV number is not written on it.
The transactions are authorized by Apple Pay — Face ID,
Touch ID, unique transaction codes. Goldman Sachs is
the issuing bank for the Apple Card.
CSR violations– CSR violations will not be treated as criminal offence and would instead be
civil liability.
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GST related
All pending GST refund due to MSMEs shall be paid within 30 days. In future all GST refunds
shall be paid within 60 days from the date of application.
TReDS to use GSTN system in medium term to enhance market for bill discounting for
MSMEs.
Auto Sector
All the BS IV vehicles purchased till 31.03.2020 shall remain operational for entire period 27
of registration.
The revision of one-time registration fees has been deferred till June 2020.
Any vehicle acquired from now till March 2020 will benefit from an additional 15 per cent
depreciation, making a total of 30 per cent depreciation.
15. NCAER predicts India’s GDP growth rate for FY20 at 6.2%
Economic think tank National Council of Applied Q1. GDP growth rate for India in
Economic Research (NCAER) has predicted India’s GDP FY20 as per NCAER?
growth rate for FY20 at 6.2%.
The Wholesale Price Index (WPI) inflation is projected at
2.6 percent.
16. CAIT partners with HDFC bank to launch “Digi Vyapari-Safal Vyapari” initiative
The Confederation of All India Traders (CAIT) has Q1. The Digi Vyapari-Safal Vyapari
launched an initiative named “Digi Vyapari-Safal initiative has been launched by?-
Vyapari” with an aim to accelerate the acceptance of CAIT
digital payments method among merchants across the Q2. CAIT has partnered with which
country. bank for the Digi Vyapari-Safal
CAIT is an apex body of the trading community of India. Vyapari initiative?- HDFC
For this initiative, CAIT has partnered with HDFC Bank,
Mastercard, Common Service Centres (CSCs) of Ministry
of Electronics and Information Technology (Meity) and
Global Linkers.
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17. Mastercard rolls out Identity Check Express for safe digital payment
Mastercard has launched a new solution – Identity Check Q1. Who has launched the
Express – to create a completely friction-free digital “Identity Check Express”?
payment experience for online shopping. Q2. Under Identity Check Express
This mobile-first authentication solution will remove the of Mastercard- there will be no
need for an OTP to authenticate consumers putting need for PIN for transactions less
through mobile transactions. This was demonstrated at than?- Rs 2000
Global Mastercard Cybersecurity Summit that was held
in India for the first time.
With Identity Check Express, Mastercard will offer a
frictionless payment experience to Mastercard
cardholders at leading merchants for amounts less than
₹2,000 on their trusted mobile device by sharing a one-
time merchant specific consent. For transactions greater
than ₹2,000, cardholders will be able to authenticate
themselves with a transaction PIN of their choice.
19. India’s first Corporate Credit Card for Startups and SMEs launched by EnKash
Business-to-business payments startup EnKash has Q1. First Corporate Credit Card for
launched India’s first corporate credit card for small and Startups and SMEs in India has
medium enterprises (SMEs). The card is named ‘Freedom been launched by?- EnKash
Card’.
The Freedom Card by EnKash would give SMEs and
startups the facility to avail credit for immediate needs
and to manage their liquidity.
20. West Bengal top Indian State in 2018-19 in terms of GDP growth
West Bengal has topped the list of states in India in Q1. State with highest GDP Growth
terms of GDP growth rate in 2018-19 with a GDP growth Rate in 2018-19? West Bengal
rate of 12.58%. Q2. State with Lowest GDP Growth
The data is as per the table on GDP growth of states in Rate in 2018-19?- Goa
2018-19 published by the ministry of statistics and
programme implementation.
West Bengal is followed by Andhra Pradesh at second
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23. RBI finalises regulatory sandbox framework for innovation in fintech firms
The Reserve Bank of India (RBI) has released the final Q1. Minimum net worth for
‘enabling framework for the regulatory sandbox. participant in RS?
What is Regulatory Sandbox: Regulatory Sandbox (RS) Q2. RS stands for?
usually refers to live-testing of new products or services in a Q3. Framework introduced for
controlled/test regulatory environment for which regulators fintech?
may (or may not) permit certain regulatory relaxations for
the limited purpose of the testing. The RS allows the
regulator, the innovators, the financial service providers (as
potential deployers of the technology) and the customers
(as final users) to conduct field tests to collect evidence on
the benefits and risks of new financial innovations, while
carefully monitoring and containing their risks.
FinTech stands for Financial Technologies,is the technology
and innovation that aims to compete with traditional
financial methods in the delivery of financial services.
Purpose of RS: The objective of the RS is to foster
responsible innovation in financial services, promote
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26. Danish bank (Jyske Bank) launches world’s first negative interest rate home loan
Jyske Bank in Denmark has launched the world’s first Q1. Which bank has launched the
negative interest rate home loan. world’s first negative interest rate
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It means the bank will pay the borrower interest in place home loan
of charging interest. It will pay an interest of 0.5% p.a. In
other words, it will charge an interest rate of -0.5% per
annum. In reality money will not be paid, however, it
will be adjusted in the next installment that the
borrower has to pay.
Negative interest rates effectively mean that a bank pays
a borrower to take money off their hands, so they pay
back less than they have been loaned.
28. Failed ATM transactions not to be counted under Free ATM Transactions: RBI
The Reserve Bank of India has issued a clarification to Q1. As per the latest instructions
the commercial banks that the transactions that have by RBI, which of the following
failed due to technical reasons, non-availability of transactions should not be
currency in ATMs, etc. shall not be counted as valid ATM counted under free ATM
transactions for the customer. Consequently, no charges transactions?- Options can be- (a)
therefor shall be levied. non-availability of currency notes
The various circumstances under which the transactions in the ATM (b) transactions failed
should not be counted as valid ATM transactions for the due to hardware failure (c) invalid
customer has been listed by RBI as under: pin (d) balance enquiry at off-us
transactions which fail on account of technical reasons transaction.
like hardware, software, communication issues; Ans: (d) as the RBI Instructions says
non-availability of currency notes in the ATM; that “Non-cash withdrawal
other declines ascribable directly / wholly to the transactions (such as balance
bank/service provider; enquiry, cheque book request,
invalid PIN / validations; payment of taxes, funds transfer,
Non-cash withdrawal transactions (such as balance etc.), which constitute ‘on-us’
enquiry, cheque book request, payment of taxes, funds transactions (i.e., when a card is
transfer, etc.), which constitute ‘on-us’ transactions (i.e., used at an ATM of the bank which
when a card is used at an ATM of the bank which has has issued the card) shall also not
issued the card) shall also not be part of the number of be part of the number of free ATM
free ATM transactions. transactions.”
Number of Free transactions mandated by RBI: (remember that Q2. Number of free ATM
banks can offer more free transactions than this, but not less) withdrawal in various cases.
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29. ANZ Banking Group predicts India’s GDP growth forecast at 6.2% in 2019-20
The Australia and New Zealand Banking Group (ANZ) has Q1. India’s GDP growth rate as per
predicted India’s GDP growth at 6.2% for FY20. Earlier it ANZ for FY20?- 6.1%
has predicted the growth rate at 6.5%. Q2. India’s GDP growth rate as per
For FY21, ANZ has predicted India’s GDP growth rate at ANZ for FY21?- 6.5%
6.5%
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31. Banks to identify at least one branch in a State for Gold Monetisation Scheme: RBI
The Reserve Bank of India has issued an amendment to Q1. As per RBI, banks are
the Gold Monetization Scheme, 2015. As per the mandated to identify at least how
amendment: many branch in a State/Union
Banks have to identify at least one branch in a Territory where they have
State/Union Territory where they have presence to presence to accept the deposits
accept the deposits under the Scheme. under the Gold Monetisation
All deposits under the scheme shall be made at the Scheme.
Collection and Purity Testing Centre (CPTC). Q2. Full Form of CPTC?- Collection
and Purity Testing Centre
32. Sebi imposes restrictions on mutual fund investments in short-term bank deposits
Securities and Exchange Board of India (SEBI) has issued Q1. SEBI has restricted the Mutual
clarification pertaining to investment in Short Term fund houses from parking funds in
Deposits (STDs) of scheduled commercial banks. SEBI has which type of deposits of
said that: commercial banks is the bank has
Trustees/Asset Management Companies (AMCs)/Mutual invested in that scheme?- Short
fund houses shall ensure that no funds of a scheme is Term Deposits
parked in STD of a bank which has invested in that
scheme.
Trustees/AMCs shall also ensure that the bank in which
a scheme has STD do not invest in the said scheme until
the scheme has STD with such bank.
34. India’s forex reserves at new life-time high of $430.57 bn: RBI data
As per Reserve Bank of India’s Data, India’s foreign Q1. Remember the figure of
exchange reserves surged by $1.620 billion to $430.572 $430.572 billion
billion in the week to August 9 on rise in foreign currency
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35. Companies can now have up to 74% Differential Voting Rights (DVR) shares
The Central Government has liberalized the rules that Q1. New limit of Differential Voting
would allow Indian companies to raise share capital Rights (DVR) shares for
without diluting the voting rights of all existing companies? – 74%
shareholders. Q2. Companies can now have up to
Before Amendment: Prior to the amendment, the 74% Differential Voting Rights
Companies (Share Capital and Debentures) Rules of 2014 (DVR) shares of the total post issue
allowed the issue of shares with differential voting ________ capital?- paid-up share
rights, with the condition that—the business should Q3. Employee Stock Options
have distributable profits for the previous three years, (ESOPs) can be issued by startups
and the capital raised through shares with differential to promoters or directors holding
voting rights must not exceed 26% of the post-issue more than 10% of equity shares for
capital. ________ years?- 10 years
After Amendment:
(i) The amendment has removed the condition of having three
years of distributable profits.
36. Japan Credit Bureau (JCB) partners with NPCI partners to issue new credit card in
India
Japan Credit Bureau (JCB) International in partnership Q1. JCB has partnered with which
with National Payments Corporation of India (NPCI), firm for JCB credit card in India?
along with domestic banks have announced the launch Q2. Which Japanese company has
of a new credit card — RuPay JCB Global Cards. partnered with NPCI for credit card
Eight banks in India will issue RuPay JCB Global Cards- in India?
including State Bank of India, Punjab National Bank, Axis
Bank, Union Bank of India, Central Bank of India, Andhra
Bank, City Union Bank, and TJSB Bank.
This credit card is RuPay in India and JCB in foreign
countries.
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38. BookMyForex partners with YES Bank to launch Forex Card on Visa network
BookMyForex.com has announced the launch of a co- Q1. BookMyForex has launched
branded Multi-Currency Forex Travel-card in partnership the Multi-Currency Forex Travel-
with YES Bank and Visa to offer a seamless experience to card in partnership with which
Indian overseas travelers. bank?
Travellers can load up to 10 currencies on the card.
BookMyForex is the world’s first and largest marketplace
for foreign exchange and remittances.
Customers can buy forex travel cards using the
BookMyForex platform and get free doorstep delivery
across major cities in India.
39. RBI allows e-mandates on cards for recurring transactions upto Rs 2000
The Reserve Bank of India has allowed processing of e- Q1. The maximum amount of limit
mandate on cards for recurring transactions. The for e-mandate based recurring
maximum permissible limit for a transaction under this transactions on cards.
provision is Rs 2,000/-.
This would be applicable on all types of cards – debit,
credit and Prepaid Payment Instruments (PPIs), including
wallets. These instructions would come into effect from
September 1, 2019.
There would be a requirement of Additional Factor of
Authentication (AFA) during the registration of e-
mandate registration and for the first transaction. The
remaining transactions would be automatic and simple
without AFA.
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41. Acko General Insurance Signs Pact with ZestMoney for Credit Insurance
Acko General Insurance has partnered with consumer Q1. ZestMoney has partnered with
lending fintech ZestMoney to offer credit insurance to which insurance company to offer
the ZestMoney customers. credit insurance to its customers?
A customer can avail credit insurance at the time of
availing a loan with ZestMoney.
This insurance will cover their monthly EMI payments
during times of crisis such as hospitalization or critical
illness when they’re unable to pay their installments.
Customers can file the claim through the ZestMoney
app.
ZestMoney offers instant financing to consumers across
1000+ online portals and provides them the option of
paying through EMIs even if the consumers don’t own a
credit card.
42. Moody’s lowers India’s GDP growth prediction for 2019 to 6.2%
Moody’s Investors Service has reduced India’s GDP Q1. GDP growth rate for India in
Growth rate prediction for 2019 to 6.2% from 6.8% 2019 as per Moody?
earlier. Q2. GDP growth rate for India in
For the year 2020, Moody has predicted India’s GDP 2020 as per Moody?
growth at 6.7%.
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44. 7 of the world’s 10 worst-performing bank stocks are in India; Top- Yes Bank
Data as per Bloomberg indicates that Seven of the 10 Q1. As per data from Bloomberg,
worst-performing bank stocks globally are from India as how many banks in India are
the country struggles due to an economic slowdown. amongst 10 worst performing
Yes Bank is the top worst performing bank among these. stocks?
It has a Total YTD returns: -69.60 percent. Q2. Which bank is the worst-
The list of all banks are: performing bank stock as per
1. Yes Bank (India) Bloomberg data?
2. IDBI Bank (India)
3. Central Bank of India (India)
4. Banco BBVA Argentina (Argentina)
5. Bank of India (India)
6. Grupo Financiero Galicia (Buenos Aires)
7. RBL Bank (India)
8. Unicaja Bank (Spain)
9. Indian Overseas Bank (India)
10. Corporation Bank (India)
45. Bandhan Bank enters credit card business with standard Chartered tie-up
Bandhan Bank has entered into the credit cards business Q1. Bandhan Bank has partnered
in partnership with Standard Chartered Bank. Standard with which bank for co-branded
Chartered Bank will provide the back-end supports as credit card?
well as the credit.
Three variants of co-branded credit cards will be issued
to the non-microcredit customers of Bandhan Bank. This
is StanChart’s first co-branded card with another bank.
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47. Small startups with turnover up to Rs 25 cr to get promised tax holiday: CBDT
The Central Board of Direct Taxes (CBDT) has clarified Q1. As per CBDT instructions start-
that small start-ups with turnover upto Rs. 25 crores will ups with turnover upto ________
continue to get the promised tax holiday as specified in will continue to get the promised
the Income Tax Act, 1961. tax holiday.- Rs. 25 crores
The term has been specified in the Section 80-IAC of IT
Act 1961, which provides deduction for 100 per cent of
income of an eligible start-up for 3 years out of 7 years
from the year of its incorporation.
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51. In a first, HDFC Bank, MasterCard launch Millennia cards aimed at ‘Young India’
HDFC Bank, MasterCard have launched Millennia Cards. Q1. First bank to launch card
This is India’s first range of cards catering exclusively to aimed at millennials.?
the lifestyles and aspirations of the millennials. The
cards are in four variants including both debit and credit
card.
Millennials were those born between 1982 and 2000 and
represents the demographic of the first generation of
people reaching adulthood in the early 21st century.
After HDFC, Freecharge has also launched Digital Credit
Card for millennials in partnership with Axis Bank.
52. India Ratings predicts India’s GDP forecast at 6.7% for FY’20
India Ratings has decreased India’s GDP growth forecast Q1. India’s GDP growth rate
at 6.7% for 2019-20 (FY20) from an earlier estimate of prediction for FY20 as per Ind-Ra?
7.3%.
This is the lowest prediction as per India Ratings for
India in six years.
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54. Canara Bank launches OTP facility for ATM cash withdrawals over Rs 10,000
Canara Bank has launched the facility of OTP based cash Q1. First bank to introduce OTP
withdrawal from ATMs for transactions over Rs 10,000. based ATM transactions?
This is India’s first OTP facility for ATM withdrawals.
This has been done to make the ATM environment safer.
This additional factor of authentication protects from
unauthorized ATM cash withdrawals for our cardholders.
56. In a first, ICICI Bank deploys ‘Robotic Arms’ for currency sorting at its chests
ICICI Bank has become the first in the country to deploy Q1. Which bank has become the
industrial ‘Robotic Arms’ to count currency notes at its first in the country to deploy
currency chests across the country. industrial ‘Robotic Arms’ to count
ICICI Bank has deployed 14 industrial ‘Robotic Arms’ in currency notes?
12 cities. It will help sort over six million notes on all
working days, or about 1.80 billion notes annually.
How the robotic arm works: Each industrial robotic arm
feeds unprocessed cash in three high-end note-sorting
machines simultaneously, picks up processed cash from
the output stackers, aligns the loose notes, binds the
packets and finally drops them in the respective trays as
per the quality of the note.
57. RBI reiterates banks for Cash Withdrawal at Points-of-Sale (PoS) Devices
The Reserve Bank of India has reiterated banks to follow Q1. Maximum cash withdrawal
the norms regarding cash withdrawals at PoS devices limit through PoS per day at Tier I
enabled for all debit cards/open-loop prepaid cards and II centres?
issued by banks. As per RBI instructions the limit for cash Q2. Maximum cash withdrawal
withdrawal via Points-of-Sale (PoS) Devices is: limit through PoS per day at Tier III
Rs 1000/- per day in Tier I and Tier II centres to VI centres?
Rs 2,000/- per day in Tier III to Tier VI centres Q3. Maximum customer charge for
Apart from this, customer charges, if any, on such cash cash withdrawal at PoS device?-
withdrawals to not more than 1% of the transaction 1% of the transaction amount
amount.
RBI stated that it has come to the notice of RBI that the
instructions regarding this have not been implemented
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58. RBI increases timeline for conversion of minimum detail PPIs to full KYC PPI to 24
months
The Reserve Bank of India has increased the timeline for Q1. A ‘minimum detail PPI’ can be
the conversion of a minimum detail Prepaid Payment held for a maximum period of
Instruments (PPIs) to KYC compliant PPIs from 18 _______?- 24 months
months to 24 months. These 24 months shall be counted Q2. Limits for minimum detail PPI?
from the day of the opening of such a PPI.
What is minimum detail PPI: A Prepaid Payment
Instrument where the holder has submitted minimum
KYC related information like only mobile number and
self-declaration of name and the unique identification
number is a minimum detail PPI.
Limit for minimum details PPI: The amount loaded
during any month shall not exceed Rs 10,000/- and the
total amount loaded during the financial year shall not
exceed Rs 1,00,000/-.
59. Government announces merger of Public Sector Banks to bring down number of
PSBs to 12
Finance Minister Nirmala Sitharaman has announced the Q1. Name of all banks that are
merger of 10 PSU banks to become four major entities. After being merged and their anchor
this, the total number of PSBs will come down to 12 from 24 banks?
banks. In 2017, there were 27 PSBs. Q2. Capital infusion of Rs __ for
PSBs?
The details of the merger are given below: Q3. Which bank got the highest
amount in the capital infusion of
Merger 1: Punjab National Bank, Oriental Bank of Commerce Rs 55,250 crore?- PNB
and United Bank will be merged into one entity. It will become
the second-largest PSB with a business of Rs 17.95 lakh crore
and 11,437 branches. (Anchor Bank- PNB)
Merger 4: Indian Bank and Allahabad Bank will merger into one
entity. It will become seventh-largest PSB with a business of Rs
8.08 lakh crore. (Anchor bank – Indian Bank)
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62. NPCI revises merchant discount rates for BHIM UPI transactions
The National Payments Corporation of India (NPCI) has Q1. New MDR Rate for BHIM UPI
revised the Merchant discount rates (MDR) for BHIM UPI transactions?- 0.30%
transactions. The new limits are: Q2. Maximum cap of MDR rate for
o MDR has been revised to 0.30% with a maximum cap BHIM UPI transactions?- Rs 100
of Rs. 100 per transaction. Q3. MDR for offline merchant
o MDR for offline merchant where transactions are where transactions are done
done through QR Scan and Pay will be Zero for through QR Scan and Pay for
transaction up to Rs. 100. transaction less than Rs 100?- Rs 0
This MDR rates will come into effect from October 01, 2019. Q4. Inward transactions limit for
The present rate of MDR is capped at 0.25% for transactions P2PM category?- Rs 1 lakh per
up to Rs. 2,000 and at 0.65% for transactions above Rs month
2,000.
NPCI has also raised the inward transactions limit for P2PM
category for small merchants from Rs 50,000 to Rs 1,00,000.
(per month).
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