Banking Awareness Set 84 (Digital Banking Awareness)

Digital Banking Awareness Questions for upcoming banks and insurance exams SBI PO, IBPS PO/Clerk, Federal Bank, RRB PO/Clerk, RBI, IPPB.

  1. Which of the following is the helpline number to address consumer queries on digital payments?
    A) 15555
    B) 14444

    C) 18888
    D) 19999
    View Answer
    Option B
    Some Extra:
    The government, in collaboration with telecom and IT industry, launched a toll-free helpline – 14444 – to address consumer queries on digital payments in January 2017.
    The helpline was launched aiming at addressing questions regarding various platforms, including the newly-launched Bharat Interface for Money (BHIM), e-Wallets, Aadhaar-enabled payment system and USSD.
  2. ‘Eazypay’, India’s first mobile app for merchants to accept payments on mobile phone through multiple digital modes belongs to which bank?
    A) Federal Bank
    B) Dhanalakshmi Bank
    C) Yes Bank
    D) ICICI Bank
    View Answer
    Option D
    Some Extra:
    A first-of-its kind application, ‘Eazypay’ offers customers the improved convenience of paying by using their mobile phone through Unified Payment Interface (UPI), any credit / debit card & internet banking, and ‘Pockets’, digital wallet of ICICI Bank.
  3. Which of the following banks launched its digibank, India’s first mobile-only bank in 2016?
    A) HDFC Bank
    B) HSBC
    C) DBS Bank
    D) RBL Bank
    View Answer
    Option C
    Some Extra:
    DBS Bank, Singapore’s largest bank and a leading bank in Asia, officially unveiled digibank, India’s first mobile-only bank.
    digibank is India’s first paperless, signatureless, branchless bank.
  4. Which of the following banks created history in August 2015 by launching India’s first Mobile App for Bank Account opening?
    A) Axis Bank
    B) Federal Bank
    C) South Indian Bank
    D) HDFC Bank
    View Answer
    Option B
    Some Extra:
    In August 2015, creating history, Federal Bank launched India’s first Mobile App for Bank Account Opening. Bank introduced this unique facility of Mobile based Bank Account Opening as an upgrade to FedBook, its e-Passbook App.
    With the new avatar of FedBook, anyone having an Aadhaar Card and PAN Card, can open a Savings Bank Account and get their Account Number instantly using a mobile from anywhere.
  5. LIME, the country’s first mobile app that offers Wallet, Shopping, Payments & Banking belongs to which of the following banks?
    A) Axis Bank
    B) Yes Bank
    C) HDFC Bank
    D) ICICI Bank
    View Answer
    Option A
    Some Extra:
    LIME act as an independent app, empowering any person to open individual, shared mobile wallets and make seamless peer to peer as well as online, offline merchant payments. 
  6. Which of the following banks launched country’s first automated teller machine (ATM) which can be operated independently by a visually impaired person, know as ‘Talking ATM’?
    A) State Bank of India

    B) Union Bank of India
    C) Bank of Baroda
    D) Bank of India
    View Answer
    Option B
    Some Extra:
    Country’s first automated teller machine (ATM) which can be operated independently by a visually impaired person, know as ‘Talking ATM’ was installed at the premises of the Blind People’s Association (BPA) in Ahmedabad by the Union Bank of India (UBI).  
  7. Airtel Payments Bank launched India’s first online debit card along with a prepaid card with which of the following?
    A) Standard Chartered
    B) Mastercard
    C) VISA
    D) NPCI
    View Answer
    Option B
    Some Extra:
    Airtel Payments Bank and Mastercard, a leading global payments and technology firm has launched India’s first online debit card along with a prepaid card, both accessible via the Myairtel App.
    The online debit card will enable customers of Airtel Payments Bank to make digital payments at over 100,000 online merchants.
  8. Which of the following Payments Bank is the first one to start giving its services in India?
    A) Paytm Payments Bank

    B) India Post Payments Bank
    C) Airtel Payments Bank

    D) Fino Payments Bank
    View Answer
    Option C
  9. PhonePe, a Flipkart Group company, with which of the following banks launched India’s first UPI (Unified Payments Interface) based mobile payments app?
    A) Yes Bank
    B) ICICI Bank 
    C) Bank of Baroda
    D) United Bank of India
    View Answer
    Option A
    Some Extra:
    Mobile payments start-up PhonePe Internet Pvt. Ltd, which is owned by Flipkart, in partnership with private lender Yes Bank launched unified payments interface (UPI) based payments app.
    PhonePe allows users to link their bank accounts securely to their smartphone using National Payments Corporation of India’s encrypted libraries. 
  10. Name the head of committee on Digital Payments constituted by the Ministry of Finance, Department of Economic Affairs to review the payment systems in the country?
    A) N.S. Viswanathan
    B) Ratan P. Watal
    C) Sudarshan Sen
    D) Chandrababu Naidu

    View Answer
    Option B
    Some Extra:
    The Ministry of Finance, Department of Economic Affairs had constituted a Committee on Digital Payments to review the payment systems in the country and to recommend appropriate measures for encouraging Digital Payments.
    The Committee was constituted on 23rd August 2016 under the Chairmanship of Shri. Ratan P. Watal, Principal Advisor, NITI Aayog and former Finance Secretary to the Government of India.

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