BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

FINO Payments Bank has commenced operations as a payments bank with effect from 30th June 2017 according to the Reserve Bank of India. Where is the head office of FINO Payments Bank?

A	Chennai
B	Jaipur
C	Bengaluru
D	Mumbai

Explanation:

Detailed explanation-1: -Q. Which payments bank has been granted the status of a Scheduled bank by the Reserve Bank of India (RBI)? Notes: The Reserve Bank of India (RBI) has recently granted the status of a scheduled bank to Airtel Payments Bank.

Detailed explanation-2: -Fino Payments Bank has received the Reserve Bank of India’s approval for commencing international remittance business under the Money Transfer Service Scheme (MTSS).

Detailed explanation-3: -The HEAD OFFICE branch of FINO PAYMENTS BANK is located in the MUMBAI district of the MAHARASHTRA State at Mindspace Juinagar, Plot no. Gen 2/1/F, Tower 1, 8th Floor, TTC Industrial Area, MIDC Shirwane, Juinagar, Navi Mumbai-400 706.

Detailed explanation-4: -Reserve Bank of India has today, in exercise of its powers, inter alia, under section 35A of the Banking Regulation Act, 1949, directed Paytm Payments Bank Ltd to stop, with immediate effect, onboarding of new customers.

There is 1 question to complete.