2020
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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SBI
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RBI
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India Post Payments Bank
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PNB
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Detailed explanation-1: -Detailed Solution. The correct answer is J Venkatramu. India Post Payments Bank (IPPB) has announced that J Venkatramu has taken charge as its Managing Director and CEO.
Detailed explanation-2: -Shri J Venkatramu With over 24 years of work experience in various functions of banking with core competence in the areas of Business Strategy, Product Development and Digital Financial Services with a deep understanding of technology as an enabler.
Detailed explanation-3: -India Post Payments Bank (IPPB) was setup under the Department of Post, Ministry of Communication with 100% equity owned by Government of India. IPPB was launched as a pilot project on 30 January 2017 in Ranchi (Jharkhand) and Raipur (Chhattisgarh), with the objective of being present across India by the FY 2018-2019.
Detailed explanation-4: -Features of Payment Banks It needs to have a minimum paid-up capital of Rs. 100, 00, 00, 000. Minimum initial contribution of the promoter to the Payment Bank to the paid-up equity capital shall at least be 40% for the first five years from the commencement of its business.