In terms of public expenditure, crowding-out effect implies?

Q. In terms of public expenditure, crowding-out effect implies:

A. Excess government subsidies distorting resource allocation

B. Excess private expenditure producing inflation

C. Market exploitation by the private sector due to reckless government expenditure.

D. Excess government expenditure, raising the interest rate and depressing the availability of funds.

Continue reading In terms of public expenditure, crowding-out effect implies?

The Madhav Chitale Committee recently submitted its report, which was related to the issue of?

Q. The Madhav Chitale Committee recently submitted its report, which was related to the issue of:

A. Identification of rivers for speedy implementation of the National Waterways Project

B. Pattern of management and funding for inter-state river interlinking projects

C. De-siltation of River Ganga

D. Role of the Farakka Barrage in causing floods in the state of Bihar

Continue reading The Madhav Chitale Committee recently submitted its report, which was related to the issue of?

Which Indian Personality was Conferred with the Japan’s Prestigious Grand Cordon of the Order of the Rising Sun Award? 

Q.Which Indian Personality was Conferred with the Japan’s Prestigious Grand Cordon of the Order of the Rising Sun Award? 

A. C.N.R. Rao

B. Ashwani Kumar

C. Vijay Shekhar Sharma

D. N. K. Singh

Continue reading Which Indian Personality was Conferred with the Japan’s Prestigious Grand Cordon of the Order of the Rising Sun Award? 

Which of the states has the largest coastline in India?

Which of the given states has the largest coastline in India?

A. Gujrat

B. Maharashtra

C. Andhra Pradesh

D. Odisha

Answer: 

Continue reading Which of the states has the largest coastline in India?

15 things to know about Paytm Payments Bank

One97 Communications founder Vijay Shekhar Sharma led digital wallet company Paytm now launched as Paytm Payments Banks. 

Main points to remember:

1. The maiden branch of Paytm Payments bank opens in the National Capital region of Delhi in Noida. 

2. Bank plans to expand to 31 branches and 3,000 customer service points in its first year.

3. Paytm Payments Bank accounts will initially be available on an invite-only basis. In the first phase, the company will roll out its beta banking app for its employees and associates.

4. Paytm Payments Bank will offer zero balance accounts. 

5. Paytm Payments Bank is a differentiated bank. So, it can accept Rs 1 lakh per account, as per RBI (Reserve Bank of India) guidelines for payment banks. A payments bank cannot lend or give advance to customers. It can issue cheque books and debit cards but not credit cards.

6. The bank will offer 4 per cent interest per annum on deposits. 

7.  Paytm will offer virtual Rupay debit cards to customers immediately and physical card on request for withdrawing cash from any ATM in the country. 

Annual subscription fee for ATM will be Rs. 100 plus delivery charges. 

8. Paytm currently has around 220 million customers who use its digital wallet. The wallets will be shifted to the payments banks and users will have to comply with ‘know your customer’ (KYC) norms for opening accounts.

9. The bank will charge for cash withdrawal using ATM similar to other commercial banks. There will be 5 free transactions in non-metro cities and 3 free transactions in metro cities. After that, the bank will charge Rs. 20 for each transaction. 

10. The bank will charge Rs. 5 for printing out a mini-statement after free transaction limit. 

11. For physical statement, the customer will have to pay Rs. 50 plus delivery charges to the bank. 

12. The bank will provide 10 leaves checkbook at a cost of Rs. 100 plus delivery charges. 

13. All online transactions via channels like IMPS, RTGS, and NEFT will be free of charge. 

14. With the launch of Paytm Payments Bank, there are now 3 Payment Bank in India. Others are Airtel Payments Bank Ltd and India Post Payments Bank Ltd. 

15. Existing Paytm users will be transferred to the Paytm Payments Bank Limited automatically as the wallet business will become part of the new company.

Source: