Internet and Mobile Banking

1234

Which of the following bank has launched ‘mVisa’ – a mobile-based payments solution?

SBI

ICICI Bank

HSBC Bank

Canara Bank

Which statement about Mobile Money Identifier (MMID) is incorrect?

MMID is a seven-digit number issued by banks.

User’s mobile number and MMID are linked to the bank account.

Both remitter and beneficiary need MMIDs for fund transfer.

A unique MMID and mobile number always identify only one account.

Which statement about Payments Banks in India is incorrect?

Payments banks can issue ATM/debit cards but not credit cards

Payments bank can give a loan of up to only Rs 1 lakh

Initial capital required for a payments bank is Rs 100 crore

Payments bank must maintain Cash Reserve Ratio as decided by RBI

Which banking type operates primarily through the World Wide Web?

Universal banking

Virtual Banking

Wholesale Banking

None of these

Current Affairs