General Awareness Test - 4 - Bank Exams MCQ

The Correct Answer is Development Bank.
Key Points
Development Banks

• They provide medium and long-term finance to the industrial and agricultural sectors
• They provide finance to both the private and public sectors.
• They do term lending, investment in securities, and other activities.
• They even promote saving and investment habits in the public.

Export-Import Bank of India (EXIM Bank):

• Currently headed by Harsha Bangari. (HQ- Mumbai.)
• It is a specialized financial institution, wholly owned by the Government of India, set up in 1982, for financing, facilitating, and promoting foreign trade of India.
• It is a public sector financial institution created by an Act of Parliament, the Export-import Bank of India Act, 1981.
• The business of Exim Bank is to finance Indian exports that lead to continuity of foreign exchange for India.
• The Exim Bank extends term loans for foreign trade.
• The Bank facilitates two-way technology transfer by financing import of technology into India, and investment abroad by Indian companies for setting up joint ventures, subsidiaries or undertaking overseas acquisitions

• At WWDC 2024, Apple announced the introduction of its new AI framework called Apple Intelligence.

• This system focuses on enhancing personalised interactions across Apple devices.
• Apple Intelligence leverages generative models designed with privacy in mind.
• It supports features such as prioritising notifications, summarising content, and generating images using photos from the library.
• The system is integrated with Apple Silicon, particularly from the A17 Pro chip and onwards.
• A key component is its capability to offer personalised actions across apps using on-device intelligence.
• For specialised processing needs that require cloud support, it utilises Private Cloud Compute.
• This framework is positioned to work seamlessly within the Apple ecosystem, enhancing user experience with advanced AI capabilities.

The correct answer is Gujarat.
In News

• The Asian Development Bank (ADB) has signed a long-term loan agreement with ENGIE group to finance a 400MW solar PV power plant in Surendranagar District, Gujarat, India.

Key Points

• ADB acted as the mandated lead arranger for the loan, amounting to 14.6 billion Indian rupees (approximately $175.9 million).
• The project will be executed by Enren Energy Private Limited, a special-purpose vehicle owned by ENGIE, utilizing locally produced bifacial PV modules.
• Gujarat Urja Vikas Nigam Limited, a state-owned electricity distribution company, will be the sole offtaker of the power generated by the plant.
• The solar plant is projected to generate an average of 805GWh annually over a period of 25 years, contributing significantly to India's clean energy goals.
• ENGIE India CEO Amit Jain highlighted the project's role in advancing India's clean energy journey, promoting local job creation, and supporting the country's transition to nonfossil fuel energy sources.
• This initiative aligns with the Government of India's ambitious target of achieving 500GW of nonfossil fuel energy capacity by 2030, furthering the nation's commitment to sustainable development and climate action.

The correct answer is Only 1.

In News

• The FC is constituted every five years and is exclusively constituted by the Union Government.

Key Points

• The FC consists of a chairman and four other members who are appointed by the President.
• The 16th Finance Commission, under the chairmanship of Dr. Arvind Panagariya, focuses on devolution to local bodies, highlighting challenges in urban fiscal devolution in India.
• The Union government has notified the constitution of the 16th Finance Commission under the chairmanship of Dr. Arvind Panagariya for making its recommendations for the period of 2026-31.
• The FC is constituted every five years and consists of a chairman and four other members who are appointed by the President.

The correct answer is ​Justice H N Kotiswar Singh and Justice R Mahadevan

In News

• The Centre has notified the appointment of Justices H N Kotishwar Singh and R Mahadevan as judges of the Supreme Court.

Key Points

• Justice Singh is currently the Chief Justice of Jammu and Kashmir and Ladakh High Court, having taken office on February 15, 2023.
• He is the first Supreme Court judge from Manipur, with his name recommended by the Collegium led by Chief Justice DY Chandrachud on July 12.
• Born on March 1, 1963, in Imphal, Justice Singh has a notable legal background, including serving as a senior advocate and additional judge in the Gauhati High Court.
• Justice R Mahadevan is the acting Chief Justice of the Madras High Court, having been appointed a judge there in 2013.
• Mahadevan has a law degree from Madras Law College and has over 25 years of experience specializing in civil, criminal, and tax-related cases.
• With these appointments, Manipur gains representation in the Supreme Court for the first time since gaining statehood over 50 years ago.

The correct answer is Malta.
In News

• Roberta Metsola, a Maltese lawmaker, secured a second term as president of the European Parliament.

Key Points

• Metsola is the first woman to win a second term as head of the EU assembly.
• She is only the second president, after Germany’s Martin Schulz, to win another term since the EU Parliament became a directly elected institution in 1979.
• Metsola was reappointed with broad backing, securing 562 votes out of 623.
• She is a member of the centre-right European People’s Party.

Additional Information

• Roberta Metsola
  • Roberta Metsola is from Malta, the EU’s smallest country.
  • She became an EU lawmaker in 2013 and rose through the ranks to become the youngest ever president of the EU Parliament.
  • Metsola has been recognized for her support of Ukraine and efforts to repair the Parliament’s reputation.
  • She has faced criticism over her stance on abortion but committed to representing the EU assembly’s position on women's rights.

The correct answer is Mastercard.
Key Points

• CERT-In has partnered with Mastercard to enhance cyber-resilience in the financial sector.
• The collaboration aims to promote cooperation and information sharing in cybersecurity incident response, capacity building, and threat intelligence.
• Both entities will conduct training programs and workshops to enhance the cybersecurity of financial sector organizations.
• The partnership will involve sharing relevant cyber threat trends, technical information, threat intelligence, and vulnerability reports.

Important Points

• Cybersecurity is a key focus for the Indian government, with Prime Minister Modi's administration committed to ensuring digital platform security.
• Mastercard's comprehensive approach to security includes the use of the latest AI technology to protect systems and enhance adaptability and resilience.
• CERT-In operates a 24x7 incident response Help Desk to provide timely responses to reported cybersecurity incidents.

Additional Information

• CERT-In: The Indian Computer Emergency Response Team, a government organization under the Ministry of Electronics and Information Technology, designated as the national agency for incident response.
• Mastercard: A global technology company in the payments industry, committed to making transactions safe, simple, smart, and accessible.
• Cyber Threat Intelligence: Information that CERT-In and Mastercard will share to enhance cybersecurity measures in the financial sector.

The correct answer is 58.9%
In News

• According to the Economic Survey 2023-24, a 58.9% women participation rate was in MGNREGS in 2023-24.

Key Points

• The Economic Survey 2023-24 highlights a significant increase in female Labour Force Participation Rate (LFPR), which rose to 37% in 2022-2023 from 23.3% in 2017-2018, driven largely by rural areas.
• Women hold 55.6% of the Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts, with a total of 52.3 crore bank accounts opened as of May 2024.
• The Deendayal Antyodaya Yojana-NRLM has created 8.3 million Self-Help Groups (SHGs) covering 89 million women, leading to improved empowerment, self-esteem, education, and access to government schemes.
• Under the Pradhan Mantri Mudra Yojana (PMMY), 68% of the loans have been sanctioned to women entrepreneurs.
• Stand-Up India has 77.7% women beneficiaries, reflecting the program's impact on supporting female entrepreneurship.
• Over 53% of beneficiaries of the Prime Minister’s Rural Digital Literacy Campaign (PMGDISHA) are women, showcasing the progress in digital literacy.
• The survey emphasizes the importance of asset ownership for women, advocating for female ownership of houses under the PM AWAS Yojana to promote gender equity.

The correct answer is To implement Financing Mitigation and Adaptation Projects (FMAP) in Indian small businesses.
Key Points

• The Green Climate Fund (GCF) approved a USD 215.6 million loan facility for SIDBI.
• The purpose of the funding is to implement Financing Mitigation and Adaptation Projects (FMAP) in Indian small businesses.
• This initiative supports Indian MSMEs in adopting low-emission and climate-resilient technologies.
• The project contributes to India's net-zero targets.

Additional Information

• Small Industries Development Bank of India (SIDBI) is the apex regulatory body for overall licensing and regulation of micro, small and medium enterprise finance companies in India.
• It is under the jurisdiction of Ministry of Finance, Government of India headquartered at Lucknow and having its offices all over the country.
• The SIDBI was established on April 2, 1990, by Government of India, as a wholly owned subsidiary of IDBI Bank .
• It was delinked from IDBI w.e.f. March 27, 2000.

The correct answer is Dark Oxygen

In News

• Scientists have discovered 'dark oxygen' in the Pacific Ocean’s Clarion-Clipperton Zone (CCZ) at a depth of 13,000 feet.

Key Points

• The study, published in Nature Geoscience, reveals oxygen emitted from polymetallic nodules without photosynthesis.
• These nodules, rich in manganese and iron, produce oxygen in the dark, challenging the notion that photosynthesis is the sole oxygen source.
• This discovery suggests an additional oxygen source existed, possibly supporting aerobic life before photosynthesis.
• The research, led by Andrew Sweetman of SAMS, implies life on Earth might have had alternative oxygen sources.
• The discovery raises the possibility of similar processes occurring on other planets.
• The breakthrough follows a decade of research, initially aiming to measure oxygen consumption by CCZ seafloor organisms.

• The Ministry of Earth Sciences, Government of India, through the National Centre for Polar and Ocean Research, will host the 46th Antarctic Treaty Consultative Meeting and the 26th Meeting of the Committee for Environmental Protection from May 20 to 30, 2024, in Kochi, Kerala.

Key Points

• The purpose is to discuss ongoing challenges faced by Antarctica and promote cooperation in environmental protection and research.
• These meetings align with India's commitment to protecting the fragile ecosystem of Antarctica and promoting scientific research in the region.
• India, as a Consultative Party to the Antarctic Treaty since 1983, actively participates in the decision-making process alongside other member countries.
• India currently operates two year-round research stations, Maitri and Bharati, which facilitate Indian Scientific Expeditions to Antarctica.

The correct answer is China.

In News

• China's Chang'e-6 lunar probe successfully returned to Earth with samples from the Moon's far side, landing in Inner Mongolia on June 25, 2024.

Key Points

• Launched from Hainan on May 3, the mission collected approximately 2 kilograms of lunar samples.
• The samples were specifically gathered from the Apollo Crater within the South Pole-Aitken basin, known for its unique geological features.
• This region is of particular scientific interest due to its differences from the near side of the Moon.
• Chang'e-6 utilized a drill and robotic arm to gather soil and rock samples, which were transported back to Earth via a return rocket.
• Scientists anticipate that studying these samples will provide valuable insights into the Moon's geological history and its formation billions of years ago.
• China's success with Chang'e-6 underscores its advancing capabilities in lunar exploration, following achievements like the first far side landing and rover deployment.
• The mission is part of China's ambitious space program, aiming to land taikonauts on the Moon by 2030.
• Overall, Chang'e-6's return marks a significant milestone in lunar exploration, contributing to humanity's understanding of celestial bodies beyond Earth.

The correct answer is College of Defence Management

In News

• Major General Harsh Chhibber took over as the Commandant of the College of Defence Management, Secunderabad on 31 May 2024, succeeding Rear Admiral Sanjay Datt.

Key Points

• He is an alumnus of the National Defence Academy and was commissioned into the Army Service Corps in December 1988.
• Maj Gen Harsh Chhibber holds a Doctor of Philosophy (PhD) in Public Policy.
• He also possesses two M.Phil degrees, one in Business Management and another in Public Administration.
• His professional education includes the Technical Staff Officers Course (TSOC), the Higher Defence Management Course (HDMC), and the Advanced Professional Programme in Public Administration (APPPA).
• His military career includes various important assignments in the Eastern, Northern, and Western Sectors.
• He has commanded the Para ASC company, an ASC Battalion, and the ASC Training Centre.
• He served as Brigadier General Staff (Information System) in the Eastern Sector and Major General (Operational Logistics) in the Northern Sector.
• He has experience as an instructor at the Army Service Corps Centre and College.
• He served as the Directing Staff and Head of the Financial Management Department at the College of Defence Management.
• He developed and implemented software applications that are in use by a large number of units.

The correct answer is Andrei Belousou.
In News

• Andrei Belousou has been appointed as the new Defense Minister of Russia, indicating a significant change in the country's defense leadership amidst the ongoing Russia-Ukraine military conflict.

Key Points

• Presidential Decision: This decision was made by Russian President Vladimir Putin, signaling a reshuffling in the top administrative positions within the Russian government. Replacing Sergei Shoigu, who had held the position since 2012, highlights the strategic considerations behind these changes.
• From Deputy Prime Minister to Defense Minister: Prior to this appointment, Andrei Belousou held the role of Deputy Prime Minister of Russia. His broad experience in government roles, including as Assistant to President Putin on Economic Issues and Minister of Economic Development of the Russian Federation, underscores the trust and confidence placed in him for this critical role.
• Shoigu’s New Role: Sergei Shoigu, the outgoing Defense Minister and a long-time ally of President Putin, has been reassigned to replace Nikolai Patrushev as Secretary of Russia's powerful Security Council and to take charge of the military-industrial complex, which illustrates the strategic shuffle within the high echelons of Russian politics and defense.
• Continuity in Other Positions: The confirmation that Chief of the General Staff Valery Gerasimov and Foreign Minister Sergei Lavrov will retain their positions emphasizes a balance between change and continuity within the Russian leadership structure.

The correct answer is Tripura.

Key Points

• Tripura does not share an international boundary with Myanmar.
• Following Indian states share an international boundary with Myanmar-
  • ​Arunachal Pradesh
  • Nagaland
  • Manipur
  • Mizoram

​

• Myanmar shares a long land border of over 1600 Km with India as well as a maritime boundary in the Bay of Bengal.
• Myanmar is geopolitically significant to our country as it stands at the centre of the India-Southeast Asia geography.
  • It is the only Southeast Asian country that shares a land border with northeastern India.
  • As part of India’s SAGAR Vision, India developed the Sittwe port in Myanmar’s Rakhine state.

The correct answer is 1-C, 2-D, 3-A, 4-B
In News

• President Droupadi Murmu has appointed new Governors for nine states and a Lieutenant Governor for Puducherry.

Key Points

• Haribhau Kisanrao Bagde is the new Governor of Rajasthan, replacing the previous officeholder.
• Jishnu Dev Varma, former Deputy Chief Minister of Tripura, has been appointed Governor of Telangana.
• Om Prakash Mathur, a former Rajya Sabha MP, is now the Governor of Sikkim.
• Santosh Kumar Gangwar, a former Union Minister, is the new Governor of Jharkhand.
• Ramen Deka, a former Lok Sabha MP from Assam, has been appointed Governor of Chhattisgarh.
• CH Vijayashankar, a former Karnataka Minister, is the new Governor of Meghalaya.
• CP Radhakrishnan, currently Governor of Jharkhand, will now also serve as Governor of Maharashtra.
• Gulab Chand Kataria, the Governor of Assam, has been appointed Governor of Punjab and Administrator of Chandigarh.
• Lakshman Prasad Acharya, Governor of Sikkim, is now also the Governor of Assam and has additional charge of Manipur.
• K Kailashnathan, a former IAS officer, has been appointed Lieutenant Governor of Puducherry.

The correct answer is Mohammad Mokhber

In News

• President of Iran Ebrahim Raisi and others were traveling back from a visit to Iran's border with Azerbaijan when their helicopter crashed in a mountainous region.

Key Points

• ​Iranian President Ebrahim Raisi, considered a hardliner and potential successor to Supreme Leader Ayatollah Ali Khamenei, died in a helicopter crash due to poor weather near the Azerbaijan border, according to officials and state media.
• The helicopter, which crashed on Sunday, was carrying Raisi, Foreign Minister Hossein Amirabdollahian, and six others. The charred wreckage was discovered after a search in blizzard conditions.
• Supreme Leader Khamenei, who has the ultimate authority on foreign policy and Iran’s nuclear program, announced that First Vice President Mohammad Mokhber would serve as the interim president.
• Khamenei declared five days of public mourning and extended his condolences to the Iranian people, noting that Mokhber is closely aligned with him, similar to Raisi.
• Location of the Incident: The crash occurred in a mountainous area, specifically noted as near the Iran-Azerbaijan border.
• Context of Travel: Understanding the purpose and origin of the travel provides insight into the nature of the trip and the involved risks.
• Challenges in Mountainous Terrain: The terrain where the crash occurred suggests the inherent risks associated with flying in such areas, especially under adverse weather conditions.
• Significance of the Border Visit: Visits to border areas are often significant in terms of security and diplomatic relations, indicating the importance of the trip.
• Impact of the Incident: The loss of a nation's president and other senior officials in such an incident has profound implications for national security and governance.
• Emergency Response: The details about the emergency response and rescue operations shed light on the challenges faced by rescue teams in such complex environments.

The correct answer is Non-Banking Financial Companies (NBFCs) and Small Finance Banks
Key Points

• The revised Model Skill Loan Scheme includes NBFCs and small finance banks as eligible lenders.
• These additions aim to expand the availability of loans to a broader segment of the population.
• The scheme provides collateral-free loans up to Rs. 7.5 lakh to support advanced skill education.
• The initiative is part of a broader effort to develop a future-ready workforce in India.

Additional Information

• The scheme aims to remove financial barriers to advanced skill education.
• It was launched by Jayant Chaudhary, Minister of State for Skill Development and Entrepreneurship and Education.
• The scheme builds upon the Credit Guarantee Fund Scheme for Skill Development (CCFSSD) launched in 2015.
• The maximum loan size eligible for a credit guarantee has been increased from ₹1.5 lakh to Rs. 7.5 lakh.

• The net market worth of all the final goods and services generated over a year by the normal citizen of a nation is referred to as the net national product at market prices.
• The gross market value of all finished products and services generated by the normal residents of a nation over a year is referred to as the gross national product at factor cost.
• GNP at factor cost = NNP at market prices + Depreciation-Net Indirect Taxes.

Hence, the correct answer is NNP at market prices + depreciation – net indirect taxes equals GNP at factor cost.

The correct answer is Comptroller and Auditor General of India.

In News

• The Comptroller and Auditor General of India (CAG) signed an MoU with Uzbekistan’s Chamber of Accounts to foster cooperation in auditing.

Key Points

• The MoU aims to enhance collaboration and exchange of expertise in auditing practices between the two countries.
• This partnership will promote knowledge sharing on innovative auditing solutions.
• Both parties aim to build capacity for auditing and adopt best practices.
• The signing ceremony took place in Tashkent, Uzbekistan.

Additional Information

• Comptroller and Auditor General (CAG) of India: The CAG is an independent authority established under the Indian Constitution, responsible for auditing the accounts of the central and state governments.
• Chamber of Accounts of Uzbekistan: Uzbekistan’s supreme auditing institution, tasked with ensuring transparency and accountability in public financial management.
• Auditing Practices: Involves reviewing and analyzing financial records to ensure accuracy, transparency, and compliance with regulations.
• MoU Benefits: Promotes closer ties between the supreme auditing institutions of India and Uzbekistan through mutual learning and knowledge exchange.

The correct answer is Bharat BillPay for Business.

In News

• Prime Minister Narendra Modi launched Bharat BillPay for Business at the Global Fintech Fest 2024.

Key Points

• The initiative aims to simplify and enhance digital payments for businesses.
• Bharat BillPay for Business integrates with various financial platforms for easy bill payments.
• It is expected to help businesses manage transactions more efficiently.
• This launch is part of India’s Digital India campaign to promote digital payments.

The correct answer is All 1, 2, and 3 are correct.
In News

• India has approved an additional 251 MW of electricity exports from Nepal.

Key Points

• Nepal will now export 941 MW of electricity from 28 hydropower projects to India.
• This is part of a long-term agreement to export up to 10,000 MW of power to India over the next decade.
• Nepal has significantly expanded its electricity exports since 2021.
• The additional exports contribute to both Nepal’s economy and India's growing energy needs.

Additional Information

• Nepal’s Hydropower Projects
  • Nepal has vast potential for hydropower generation due to its mountainous terrain and rivers.
  • Hydropower is Nepal’s major source of electricity exports.
• India-Nepal Energy Cooperation
  • India and Nepal have had longstanding cooperation in energy trade.
  • This cooperation is critical for regional energy security.

The correct answer is 2 and 3.
In News

• The Reserve Bank of India is launching the Unified Lending Interface (ULI) to revolutionize the lending ecosystem.

Key Points

• ULI will speed up credit appraisal, especially for small and rural borrowers.
• It will facilitate the consent-based flow of information like PAN, Aadhaar, and credit history to lenders.
• ULI is designed using the same "plug and play" API architecture as UPI.
• The initiative aims to streamline credit delivery and reduce documentation requirements for borrowers.

Additional Information

• ULI revolutionized the payment ecosystem in India by enabling real-time payments using mobile devices.
• ULI aims to replicate UPI's success in the credit ecosystem, enhancing financial inclusion.
• ULI will provide digital access to multiple data sources, enabling faster and more accurate credit assessment.
• The system will benefit smaller borrowers, especially in rural areas, by reducing processing time.

The correct answer is UCO Bank.

In News

• UCO Bank was fined ₹2.68 crore by the Reserve Bank of India for non-compliance with KYC regulations and fraud classification rules.

Key Points

• The RBI imposed the fine for violations in the opening of current accounts and KYC regulations.
• UCO Bank is one of the oldest banks in India, established in 1943.
• The RBI frequently monitors banks for adherence to regulations to prevent fraud.
• The penalty reflects RBI's commitment to enforcing strict KYC norms to maintain the integrity of the banking system.

Additional Information

• ICICI Bank is a leading private sector bank in India with extensive retail and corporate banking operations.
• HDFC Bank is known for its technology-driven banking services and large customer base.
• Axis Bank offers a wide range of financial products and services, including retail and wholesale banking.
• Yes Bank has recovered from a crisis and is focusing on restructuring and growth.

In News

• Life Insurance Corporation of India (LIC) Housing Finance Limited has launched a home loan scheme called “Griha Rakshak” for all serving and retired personnel from the Army, Navy, Air Force, Coast Guard, and paramilitary forces.
• The scheme offers discounted interest rates and benefits, including a competitive interest rate of 8.4% per annum for eligible applicants with a CIBIL score of 750 and above.

Key Points

• Eligible applicants can avail of home loans up to Rs 2 crore under the “Griha Rakshak” scheme.
• LIC Housing Finance has waived processing fees for loans under this scheme, which is available until September 30, 2024.

Additional Information

• LIC Housing Finance Limited
  • LIC Housing Finance is a subsidiary of Life Insurance Corporation of India, offering a range of home loan products.
  • The “Griha Rakshak” scheme is specifically designed to support serving and retired defense and paramilitary personnel in purchasing homes.
• Tribhuwan Adhikari
  • MD & CEO of LIC Housing Finance Limited, overseeing the launch and management of the “Griha Rakshak” home loan scheme.

In News
Union Minister Shri Rajiv Ranjan Singh launched the "Rangeen Machhli" mobile application to promote ornamental fisheries in India.
Key Points

• This mobile app aims to provide information to fish enthusiasts and professionals.
• It focuses on boosting ornamental fisheries as a profitable sector in India.
• The app provides resources on breeding, care, and trade of ornamental fish.
• The launch took place at ICAR-CIFA, Bhubaneswar.

Additional Information

• Rangeen Machhli App
  • It provides guidance on ornamental fish species, care, and business opportunities.
• Ornamental Fisheries
  • It is a niche sector that focuses on breeding colorful and decorative fish.

In News
Thiruvananthapuram International Airport Limited (TIAL) was awarded the "Pollution Control Waste Recycling Excellence Award" by the Greentech Foundation.
Key Points

• TIAL was recognized for its excellence in implementing a 'zero waste to landfill' approach.
• The airport employs the ‘5R’ strategy: ‘Reduce’, ‘Reuse’, ‘Recycle’, ‘Reprocess’, and ‘Recover’ to achieve a landfill diversion rate of 99.5%.
• The award highlights TIAL's leadership in effective waste management and sustainability practices within the aviation sector.
• The award was presented at a function held in Guwahati, Assam.

Additional Information

• Thiruvananthapuram International Airport Limited (TIAL)
  • TIAL is managed by Adani Airport Holdings Limited (AAHL), a subsidiary of Adani Enterprises, the flagship company of the Adani Group.
  • The airport's waste management practices are based on the cradle-to-cradle concept, emphasizing sustainability.
• Greentech Foundation
  • The Greentech Foundation is an organization that recognizes and rewards best practices in environmental management and sustainability across various industries.

• Nominal Effective Exchange Rate (NEER) refers to the weighted average of exchange rate of rupee against the different currencies.
• When this is adjusted with the inflation, Real Effective Exchange Rate (REER) is obtained.

The correct answer is RBL Bank.
In News
RBL Bank became the first private sector bank in India to integrate UPI and NCMC features in its RuPay credit cards.
Key Points

1. The integration brings UPI's secure payment features with NCMC's travel convenience.
2. RuPay is the domestic card network in India.
3. This move enhances financial convenience and flexibility for users.

Additional Information
RBL Bank

• Founded in 1943.
• Headquartered in Mumbai, Maharashtra.
• Known for innovations in digital payments.

In News

• NPCI International Payments Limited (NIPL) has signed an agreement with Qatar-headquartered QNB to launch QR code-based UPI payments in Qatar.
• This initiative will enable UPI payment acceptance through the QNB merchant network, benefiting Indian travellers visiting and transiting through Qatar.

Key Points

• QNB is the largest financial institution in the Middle East and Africa.
• The agreement will help Indian travellers make UPI-based payments in Qatar using the local QR code system.

Additional Information

• NPCI International Payments Limited (NIPL): CEO: Ritesh Shukla
• National Payments Corporation of India (NPCI): Headquarters: Mumbai | Chairman: Ajay Kumar Choudhary | MD & CEO: Dilip Asbe | Established: 2008
• Qatar: Capital: Doha | Currency: Riyal | Prime Minister: Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani