BANKING AFFAIRS

Detailed explanation-1: -Its parent organisation is Ministry of Road Transport & Highways. Identify the correct statements: Q. Which of the following means the special rights given by a manufacturer or a parent organisation to another individual or firm to sell the former’s product or service in a specified given area(s)?

Detailed explanation-2: -The Reserve Bank of India (RBI) and the Indian Banks’ Association formed the National Payments Corporation of India (NPCI), which developed the Unified Payments Interface (UPI).

Detailed explanation-3: -With the above context in mind, NPCI conducted a pilot launch with 21 member banks. The pilot launch was on 11th April 2016 by Dr. Raghuram G Rajan, Governor, RBI at Mumbai. Banks have started to upload their UPI enabled Apps on Google Play store from 25th August, 2016 onwards.

Detailed explanation-4: -State Bank of India, Punjab National Bank, Canara Bank, Bank of Baroda, Union Bank of India, Bank of India, ICICI Bank, HDFC Bank, Citibank and HSBC.

Detailed explanation-5: -National Payments Corporation OF India is a Non-govt company, incorporated on 19 Dec, 2008. It’s a public unlisted company and is classified as’company limited by shares’.