Which Bank approves Open, Cashfree Payments, PayNearby and Fairexpay for Cross-Border Payments?

Today General Knowledge(GK)

State Bank of India

Central Bank of India

Reserve Bank of India

Asian Development Bank

Correct Answer : Option (C) - Reserve Bank of India

The Reserve Bank of India (RBI) has approved products of four entities after they tested acceptable under the second cohort of the regulatory sandbox for cross border payments.

In December 2020, the RBI had announced the opening of the second cohort, and had received 27 applications from 26 entities, of which eight entities were selected for the ‘Test Phase’.

Of those eight, four entities – payment solution providers, Cashfree Payments and Fairex Solutions; financial services provider Nearby Technologies,which operates PayNearby, and neo-banking unicorn, Open Financial Technologies - have been found viable within the boundary conditions defined during testing under the regulatory sandbox.

“The aforesaid entities have now exited the second cohort of the regulatory sandbox on ‘Cross-Border Payments’. The products found acceptable under this cohort may be considered for adoption by regulated entities subject to compliance with applicable regulatory requirements,” the RBI said in a statement..

Source : Economic Times

Published On : July 23, 2022

Category : Banking

Recent General Knowledge Questions

Q .

NSIC Pays Record Dividend of ________ for FY 2023-24.

Rs. 25.97 Crore

Rs. 29.97 Crore

Rs. 32.97 Crore

Rs. 37.97 Crore

Correct Answer : Rs. 37.97 Crore

The National Small Industries Corporation (NSIC) paid its highest-ever dividend of Rs. 37.97 crore to the Government of India for FY 2023-24, with revenue surging to Rs. 3,273 crore (18.16% growth) and Profit After Tax reaching Rs. 126.56 crore (14.55% growth).

The National Small Industries Corporation Limited (NSIC), a Mini Ratna enterprise under the Ministry of MSME, achieved a milestone by paying its highest-ever dividend of Rs. 37.97 crore to the Government of India for the financial year 2023-24. Chairman-cum-Managing Director, Dr. Subhransu Sekhar Acharya, presented the dividend cheque to Shri Jitan Ram Manjhi, Hon’ble Union Minister, and Sushri Shobha Karandlaje, Hon’ble MoS, Ministry of MSME, in the presence of senior ministry officials, marking a significant achievement in the corporation’s history.

NSIC reported a Revenue from Operations of Rs. 3,273 crore, up by 18.16%, and a Profit After Tax (PAT) of Rs. 126.56 crore, reflecting a 14.55% increase compared to the previous year.

Financial Achievements and Growth :

* Revenue Surge : NSIC recorded a revenue of Rs. 3,273 crore in FY 2023-24, showcasing an 18.16% growth compared to the prior year.

* Profit Milestone : Profit After Tax (PAT) reached Rs. 126.56 crore, a 14.55% year-on-year rise.

* Dividend Record : With a dividend of Rs. 37.97 crore, the company achieved its highest-ever payout to the Government of India.

Published On : December 5, 2024

Category : Indian Economy

Q .

Proba-3 mission belongs to which space agency which is being launched by ISRO?

JAXA

CNSA

ESA

NASA

Correct Answer : ESA

ISRO on Thursday (05 Dec 2024) commenced a revised 8.5 hour countdown for the launch of the European Space Agency's (ESA) Proba-3 mission.

* The Bengaluru-headquartered space agency had originally planned to launch European Space Agency's (ESA) Proba-3 at 4.08 pm on Wednesday (04 Dec 2024) from the spaceport here. However, minutes before the lift-off, following the request from the European Space Agency, ISRO rescheduled the launch of PSLV-C59/PROBA-3 to December 5, 4.04 pm.

* It was rescheduled following an anomaly detected in the satellite propulsion system.

* In an update on Thursday, ISRO said, "PSLV-C59/PROBA-3 Mission. Countdown commenced. Lift-off time 16.04 pm IST, 5th December 2024. Stay tuned as PSLV-C59 prepares to deploy ESA's Proba-3 satellites into orbit."

* NewSpace India Ltd, the commercial arm of ISRO has bagged the order from the ESA.

Published On : December 5, 2024

Category : Space

Q .

Which edition of the India-Malaysia Joint Military Exercise, HARIMAU SHAKTI, commenced on 2nd December 2024?

7th edition

6th edition

5th edition

4th edition

Correct Answer : 4th edition

The 4th edition of the India-Malaysia Joint Military Exercise, HARIMAU SHAKTI, commenced on December 2, 2024, at Bentong Camp, Pahang district, Malaysia.

This exercise, scheduled to run until December 15, 2024, is an annual event designed to enhance the military cooperation between the two nations.

The exercise will focus on improving the ability of both forces to undertake joint counterinsurgency operations in jungle terrain, aligned with the United Nations Chapter VII Mandate.

Participants :

* Indian Contingent: 78 personnel from the MAHAR Regiment Battalion.
* Malaysian Contingent: 123 personnel from The Royal Malaysian Regiment.
* Location: Bentong Camp, Pahang district, Malaysia.
* Duration: December 2 to December 15, 2024.

Objective :

* To improve joint military capabilities in conducting counterinsurgency operations in jungle terrain.
* To enhance defense cooperation between India and Malaysia, thereby fostering stronger bilateral relations.

Published On : December 4, 2024

Category : Defence