Question : The National Payments Corporation of India was set up under the provisions of which Act?
Option 1: The SARFAESI Act, 2002
Option 2: Payment and Settlement Systems Act, 2007
Option 3: Government Securities Act, 2006
Option 4: Companies Act, 2013
Correct Answer: Payment and Settlement Systems Act, 2007
Solution : The correct option is the Payment and Settlement Systems Act, of 2007.
The Payment and Settlement Systems Act of 2007 provides the legal framework for the regulation and supervision of payment systems in India. It empowers the Reserve Bank of India (RBI) to regulate and oversee payment and settlement systems in the country.
The NPCI operates under the regulatory framework established by the RBI, but its specific establishment is governed by the Companies Act.
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Question : What is the full form of NPCI, which is an umbrella organization for all retail payment systems in India?
Option 1: National Payments Corporation of India
Option 2: Non-cash Payments Corporation of India
Option 3: Non-cash Payments Cooperative Inc.
Option 4: Net Payments Company Inc.
Question : Which among the following is the sole note-issuing authority in India?
Option 1: Industrial Finance Corporation of India
Option 2: National Payments Corporation of India
Option 3: Reserve Bank of India
Option 4: State Bank of India
Question : The Constituent Assembly of India was set up under the:
Option 1: Government of India Act, 1935
Option 2: Indian Independence Act, 1947
Option 3: Cabinet Mission Plan, 1946
Option 4: Simon Commission, 1928
Question : Which of the following acts prevents disrespect to the national flag and national anthem?
Option 1: Protection of National Honour Act, 1996
Option 2: Civil Liberties Act, 2001
Option 3: Unlawful Activities (Prevention) Act, 2006
Option 4: Prevention of Insults to National Honour Act, 1971
Question : Which among the following was set up in 1956 by the Indian Government by nationalising all the existing private sector life insurance companies?
Option 1: United India Insurance Company Limited
Option 2: General Insurance Corporation of India
Option 3: New India Assurance Company Limited
Option 4: Life Insurance Corporation of India
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