Merchant onboarding /acquisition target (POS) are allocated to bank by which Govt department

BANKING GENERAL KNOWLEDGE

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

A	Ministry of Finance
B	Ministry of Industry & commerce
C	Ministry of Electronics & IT
D	Ministry of Telecommunications

Explanation:

Detailed explanation-1: -Banking | Department of Financial Services | Ministry of Finance | Government of India.

Detailed explanation-2: -Immediate Payment Services (IMPS) is a real-time interbank electronic fund transfer service capable of processing person to person (P2P), person to account (P2A) and person to merchant (P2M) transactions. Individuals can make payments 24x7 using their mobile number, Aadhaar number, bank account and IFSC code.

Detailed explanation-3: -Digi Dhan Abhiyan is a Ministry of Electronics and IT (MeitY) campaign to promote cashless transactions. The campaign aims to enable every citizen, small trader and merchant to promote digital payment in their every day financial transactions.

Detailed explanation-4: -BHIM (Bharat Interface for Money) is an Indian mobile payment app developed by the National Payments Corporation of India (NPCI), based on the Unified Payments Interface (UPI). Launched on 30 December 2016, it is intended to facilitate e-payments directly through banks and encourage cashless transactions.

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