Banking

Question: For which bank, the government engaged to enable cashless payments on e-NAM?
[A].

ICICI

[B].

HDFC

[C].

Canara

[D].

Axis

Answer: Option A

Explanation:

The government has engaged private lender ICICI Bank to enable online payments at 470 mandis integrated with the national portal of electronic National Agriculture Market (e-NAM).The target is to connect 585 mandis with e-NAM by March 2018. At present, e-NAM participants are doing payments through traditional ways via bank branches, debit cards and net banking.ICICI Bank will enable BHIM (Bharat Interface for Money) and Unified Payments Interface (UPI) on the e-NAM portal for making cashless payments.

Question: Arun Jaitley launches this bank recently.
[A].

Airtel payments Bank

[B].

Paytm Payments Bank

[C].

FINO Payments Bank

[D].

Sun Pharmaceuticals Payments Bank

Answer: Option B

Explanation:

A new Payments Bank ‘Paytm Payments Bank’ was formally launched at the hands of the Union Finance Minister Arun Jaitley. Currently, India has four Payments Bank including Paytm Payments Bank. The other three operational ones are Airtel Payments Bank, India Post Payments Bank and Fino Payments Bank. A payments bank is a differentiated bank. A customer can open a savings bank account in them and have deposits of up to Rs. 1 lakh. These banks cannot, however, lend money to their customers.