A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder’s promise to the card issuer to pay them for the amounts so paid plus the other agreed charges.

(i) Paytm Payments Bank. In August 2015, Paytm received a license from RBI to launch a payments bank.
(ii) The Paytm Payments Bank is a separate entity in which founder Vijay Shekhar Sharma will hold 51% share, One 97 Communications holds 39% and 10% will be held by a subsidiary of One 97 and Sharma.

Monetary Policy is the macroeconomic policy being laid down by the Central Bank towards the management of money supply and interest rate.

The functions of IDBI fall into two groups,
(i) Assistance to other financial institutions; and
(ii) Direct assistance to industrial concerns either on its own or in participation with other institutions.

i. This method is frequently adopted by the Central Bank to exercise control over the Commercial Banks.
ii. Under this method Central Bank gives advice, then requests and persuades the Commercial Banks to co-operate with the Central Bank in implementing its credit policies.

(i) RBI introduced the Banking Ombudsman Scheme in 1995.
(ii) Under this scheme, the complainants can file their complaints in any form, including online and can also appeal to the Ombudsman against the awards and the other decisions of the Banks.

(i) RBI commenced its operations on 1 April 1935 in accordance with the Reserve Bank of India Act, 1934.
(ii) The original share capital was divided into shares of Rs.100 each fully paid, which were initially owned entirely by private shareholders.
(iii) Following India’s independence on 15 August 1947, the RBI was nationalised on 1 January 1949.

(i) It refers to deposits that are made for certain committed period of time.
(ii) Banks pay higher interest on time deposits.
(iii) These deposits can be withdrawn only after a specific time period by providing a written notice to the bank.

(i) To maintain an expert staff to study all questions on agricultural credit.
(ii) To provide expert advice to Central and State Government, State Co-operative Banks.
(iii) To finance the rural sector through eligible institutions and to co-ordinate them.

(i) It aims to control and regulate the purposes for which credit is granted by commercial banks.
(ii) It is of 2 types: variable portfolio ceiling and variable capital asset ratio

(i) The Central Bank purchases and sells Government securities and proper eligible securities like bills and securities of private concerns.
(ii) This is called Open Market operation.

(i) SLR is the amount which a bank has to keep with itself in the form of cash, gold or approved securities.
(ii) CRR is the proportion of deposits which the bank has to keep with RBI in the form of cash.

(i) Central bank is the monetary authority that manages a state's currency, money supply, and interest rate
(ii) It oversees the commercial banking system

(i) It means multiplication of loans and advances.
(ii) The power of Commercial banks to create deposits through expanding their loans and advances is known as Credit Creation.

A Commercial bank is a financial institution that accepts deposits and advances loans and are profit motivated.