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• The Asian Development Bank (ADB) is headquartered in Manila, the capital city of the Philippines.
• It was conceived in the early 1960s as a financial institution that foster economic growth and cooperation in one of the poorest regions in the world.
• It assists its partners and members by providing loans, technical assistance, grants, and equity investments to promote social and economic development.
• ADB has 68 members of which, 49 are from the Asia and Pacific region.

• Cash reserve ratio (CRR) is the mandatory deposit to be held by banks with Reserve Bank of India.
• It is calculated daily on the basis of the bank’s net demand and time liabilities with the objective to ensure the liquidity and solvency of the banks.
• The current rate of CRR is 4%.

Indian Bank is an Indian state-owned financial services company established in 1907 and headquartered in Chennai, India.

• President Ram Nath Kovind appointed Sunil Arora as the new Chief Election Commissioner (CEC) on 26 November 2018.
• He will take charge on 2 December 2018.
• He was a 1980-batch IAS officer of the Rajasthan cadre.
• Sunil Arora, who is an Election Commissioner (EC) currently, was appointed to the Election Commission in September 2017.

• India and Russia held high-level talks to elevate bilateral cooperation in the field of space, including assistance in India's 'Gaganyaan' mission.
• NSA Ajit Doval and Dmitry Rogozin, Director-General of Russia's space agency ROSCOSMOS, led the two sides in the meeting held on 11 July 2019.
• India shares robust cooperation with Russia in strategic areas of defence, nuclear and space.

The KVIC was formed in 1956. It is an apex organisation under the Ministry of Micro, Small and Medium Enterprises, with regard to khadi and village industries within India, which seeks to - "plan, promote, facilitate, organise and assist in the establishment and development of khadi and village industries in the rural areas in coordination with other agencies engaged in rural development wherever necessary."

The correct answer is option 3 i.e Nachiket Mor Committee

Payment Banks:

• They are like normal banks but operating in a small area without any credit risk.
• They are formed on the recommendation of the Nachiket Mor Committee.
• They are formed to increase financial inclusion by providing small savings accounts

payments/remittance services to migrant labor workforce, low-income households, small businesses, other unorganized sector entities, and other users.

• The minimum paid-up equity capital for payments banks shall be Rs. 100 crore.
• The payments bank should have a leverage ratio of not less than 3 percent, i.e., its outside liabilities should not exceed 33.33 times its net worth (paid-up capital and reserves).
• The promoter's minimum initial contribution to the paid-up equity capital of such payments bank shall at least be 40 percent for the first five years from the commencement of its business.
• In August 2015, the Reserve Bank of India gave "in-principle" licenses to eleven entities to launch payments banks
• Bharti Airtel launched India's first payments bank named Airtel payment bank in March 2017

Feature of Payment Banks:

• Acceptance of demand deposits: Payments banks are restricted to hold a maximum balance of Rs.100,000 per individual customer. However, in August 2019, the Reserve Bank of India (RBI) increased the limit to Rs. 2 lakh to encourage more savings and deposits.
• Issuance of ATM/debit cards. They cannot issue credit cards.
• Payments and remittance services through various channels.
• It is required to invest a minimum 75 percent of its "demand deposit balances" in Statutory Liquidity Ratio(SLR) eligible Government securities/treasury bills with maturity up to one year

List of Active Payment Banks:

The correct answer is RBI.

Key Points

• The Reserve Bank of India (RBI) is India's central bank and regulatory body under the jurisdiction of the Ministry of Finance, Government of India. It is responsible for the issue and supply of the Indian rupee and the regulation of the Indian banking system. It also manages the country's main payment systems and works to promote its economic development.
• Bharatiya Reserve Bank Note Mudran is one of the specialized divisions of RBI through which it mints Indian banknotes and coins.
• Until the Monetary Policy Committee was established in 2016, it also had full control over monetary policy in India.
• It commenced its operations on 1 April 1935 in accordance with the Reserve Bank of India Act, 1934.
• The original share capital was divided into shares of 100 each fully paid.
• Following India's independence on 15 August 1947, the RBI was nationalized on 1 January 1949.[9]
• The overall direction of the RBI lies with the 21-member central board of directors, composed of: the governor; four deputy governors; two finance ministry representatives (usually the Economic Affairs Secretary and the Financial Services Secretary); ten government-nominated directors; and four directors who represent local boards for Mumbai, Kolkata, Chennai, and Delhi. Each of these local boards consists of five members who represent regional interests and the interests of co-operative and indigenous banks.
• It is a member bank of the Asian Clearing Union. The bank is also active in promoting financial inclusion policy and is a leading member of the Alliance for Financial Inclusion (AFI).
• The bank is often referred to by the name 'Mint Street'.

Devender Kumar Sikri, a former Gujarat cadre Indian Administrative Service (IAS) officer, was appointed as chairman of fair-trade regulator Competition Commission of India (CCI). Sikri, a seasoned bureaucrat, has held various positions in Centre as well as in his cadre state Gujarat.