India Post Payments Bank uses which technology for cashless withdrawal?
QR card
India Post Payments Bank (IPPB), launched on 1 September 2018 under the Department of Posts, issues each account holder a personalised QR card instead of a conventional debit card.
The QR card carries a unique QR code linked to the account; the customer can authenticate a transaction (for example, a withdrawal or transfer at a post office or through the doorstep postman) by having this card scanned, without needing to remember an account number or carry a passbook.
IPPB's cardless and paperless access is built around this QR card (along with biometric authentication), not an NFC chip, OTP-based SMS or a virtual wallet.
Hence, India Post Payments Bank uses the QR card technology.
Important Questions from Money and Banking
Which one of the following is likely to be the most inflationary in its effects?
Which one of the following effects of creation of black money in India has been the main cause of worry to the Government of India?
Consider the following statements :
The effect of devaluation of a currency is that it necessarily
1. improves the competitiveness of the domestic exports in the foreign markets
2. increase the foreign value of domestic currency
3. improves the trade balance
Which of the above statements is/are correct?
Indian Government Bond Yields are influenced by which of the following?
1. Actions of the United States Federal Reserve
2. Actions of the Reserve Bank of India
3. Inflation and short-term interest rates
Select the correct answer using the code given below.
With reference to “Urban Cooperative Banks" in India, consider the following statements :
1. They are supervised and regulated by local boards set up by the State Governments.
2. They can issue equity shares and preference shares.
3. They were brought under the purview of the Banking Regulation Act, 1949 through an Amendment in 1966
Which of the statements given above is/are correct?
