Banking Services and Operations

Debit cards are issued by banks that hold the customer's account, or by agencies specifically authorized by those banks (like certain payment processors in partnership with banks). Bank staff cannot individually issue cards, customers cannot issue their own, and SEBI regulates securities markets not banking cards.

PAN stands for Permanent Account Number, a unique ten-character alphanumeric identifier issued by the Indian Income Tax Department. It is used to track financial transactions and prevent tax evasion. The other options are incorrect - 'Note' implies a document or message, and 'Programme Action Note' has no meaning in this context.

The phrase 'Exchange when for now' is a marketing slogan specifically associated with Microsoft Exchange Server.

There is no material alteration in the following cases: (i) Correction of a mistake (ii) To carry out the common intention of the parties (iii) An alteration made before the instrument is issued and made with the consent of the parties (iv) Crossing a cheque (v) Addition of the words “on demand” in an instrument, where no time of payment is stated

Village Co-operative Societies have been traditional sources of rural finance in India, providing credit to farmers and villagers. Regional Rural Banks and Lead Banks are also important but Co-operative Societies are the major grassroots-level financing source.

Yes, all the options are true. At Mumbai, Alipore, Cherlapalli, Noida, RBI mints the coins.

NPCI has launched a mobile based payment facility. This is called IMPS.

The purpose of the Financial Action Task Force (on money laundering), is to develop policies to combat money laundering and terrorism financing.

A bank which acts as a banker to other banks is known as central bank.

In Sikkim and Goa, no regional rural bank is present.

The Registrar and Transfer Agent (RTA) is responsible for all administrative functions related to unit issuance, redemption, and record-keeping for mutual funds. RTAs maintain investor records, process transactions, and handle KYC compliance. Custodians safekeep securities, trustees oversee fund operations, and bankers handle banking transactions - none of these handle unit issuance/redemption.

Banks do not pay interest on current accounts because the funds of these accounts are not used for lending purpose.

Consumer durable loan is provided by banks for purchase of white goods.

A commercial bank cannot issue currency. It's the function of RBI.

Social shopping is a method of commerce where shoppers' friends become involved in the shopping experience.