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 .

Which advanced AI model has been launched by Google's parent company Alphabet?

Neo

Aqua

Gemini

Gossip

Correct Answer : Option (C) - Gemini

Alphabet (GOOGL.O) on Wednesday (6th Dec 2023) introduced its most advanced artificial intelligence model, a technology capable of crunching different forms of information such as video, audio and text.

* Called Gemini, the Google owner's highly anticipated AI model is capable of more sophisticated reasoning and understanding information with a greater degree of nuance than Google's prior technology, the company said.

* "This new era of models represents one of the biggest science and engineering efforts we’ve undertaken as a company," Alphabet CEO Sundar Pichai wrote in a blog post.

* Since the launch of OpenAI's ChatGPT roughly a year ago, Google has been racing to produce AI software that rivals what the Microsoft (MSFT.O)-backed company has introduced.

* Google added a portion of the new Gemini model technology to its AI assistant Bard on Wednesday (6th Dec 2023), and said it planned to release its most advanced version of Gemini through Bard early next year.

Published On : December 9, 2023

Category : Science and Technology

Q .

At what rate has RBI maintained the Repo Rate for the 5th Consecutive Time?

6.5%

6.8%

7.3%

7.9%

Correct Answer : Option (A) - 6.5%

* The Reserve Bank of India (RBI) has kept the policy repo rate unchanged at 6.5 per cent in its monetary review meeting. This is for the fifth time in a row that the MPC has maintained the status quo. Briefing about the Bi-Monthly Monetary Policy in Mumbai this morning, RBI governor Shakitkanta Das said that the Monitory Policy Committee, MPC's has unanimously decided to keep key rates unchanged.

* Mr Das added that consequently, the Standing Deposit Facility rate remains at 6.25 percent and the Marginal Standing Facility (MSF) rate and the Bank Rate at 6.75 percent. Attributing the declining inflation as reason behind maintain status quo the policy stance, the RBI Governor informed that, real GDP growth projection for the current year 2023-24 has been revised from earlier 6.5 per cent to 7 percent. Real GDP growth for Quarter one of 2024-25 is projected at 6.7 per cent, for Quarter 2 at 6.5 per cent and for Quarter 3 at 6.4 per cent. He added that the risks are evenly balanced.

* The RBI Governor also said that the central bank has proposed to hike the limit of UPI transactions in hospitals and educational institutions from one lakh rupees to 5 lakhs.

Published On : December 8, 2023

Category : Banking

Q .

Who has become the first Indian to operate NASA's Mars Rover?

Soni Sarang

Akshata Krishnamurthy

Preeti Narayan

Surbhi Kumari

Correct Answer : Option (B) - Akshata Krishnamurthy

Akshata Krishnamurthy is an Indian woman who created history as she became the first person from the country to operate the Mars rover with the National Aeronautics and Space Administration (NASA) in the United States. She shared her achievement on Instagram, saying, "No dream is ever too big or crazy. Believe in yourself, keep those blinkers on and keep working! I promise you'll get there if you work hard."

Akshata is a PhD holder from the MIT (Massachusetts Institute of Technology). She is among the few Indians who joined NASA for a full-time opportunity. According to her LinkedIn profile, Akshata is a principal investigator and mission science phase lead at NASA. She has been working at NASA for over five years now.

Akshata shared her inspiring journey on Instagram and how she became the first Indian citizen to operate a rover on Mars and collect samples to bring back to Earth. Akshata's journey began 13 years ago when she came to the United States with a dream to work at NASA and lead science and robotic operations on Earth and Mars. However, she was discouraged from having unrealistic goals as she was a foreign national on a visa. People told her to have a different plan or change her field entirely. However, Akshata blocked those comments and persevered until she reached the goal.