The head office of National Bank for Agricultural and Rural Development is located in _______.

The correct answer is A, Muhammad Yunus. Muhammad Yunus, an economist from Bangladesh, founded Grameen Bank. He grew it out of a lending experiment begun in the village of Jobra in 1976, and the bank was given formal status by law in 1983. It lends small sums without collateral, mostly to poor rural women organised in small groups whose members stand behind one another's repayment, and this model of microcredit has since been copied across Asia, Africa and Latin America. Yunus and the bank shared the Nobel Peace Prize in 2006 for creating economic and social development from below. B is wrong because Abdullah Abu Sayeed is a Bangladeshi writer and educationist. C is wrong because Anu Muhammad is an economist known for his writing on development, not the bank's founder. D is wrong because Atiur Rahman served as Governor of Bangladesh Bank. Exam tip: Muhammad Yunus, Grameen Bank of Bangladesh, microcredit, Nobel Peace Prize 2006.

The correct answer is A, the bank account number and IFSC. A virtual payment address takes the form of a name followed by a bank handle and acts as a pointer to the underlying account, so a payment can be made or collected without revealing the account number or the branch code. Option B is wrong because the Aadhaar number is the identifier used in the Aadhaar Enabled Payment System and the Aadhaar Payments Bridge, not the detail that a UPI address hides. Option C is wrong because the PAN is a tax identifier and plays no part in a UPI transaction. Option D is wrong because the mobile number is often the very thing linked to the address, and in the UPI number facility it is used to receive money. The privacy of bank details is the design idea being tested.

The correct answer is B, India's domestic card payment network. RuPay was launched by NPCI in 2012 so that debit and credit card transactions between Indian cardholders and Indian merchants are authorised and settled within the country instead of being switched abroad, and its name joins Rupee with Payment. Option A is wrong because the Reserve Bank does not run a mobile wallet; it authorises prepaid instrument issuers under the Act of 2007. Option C is wrong because the digital currency of the central bank is the e-rupee or CBDC, which is a different instrument altogether and is issued by the RBI, not by NPCI. Option D is wrong because remittance abroad is handled by other channels, and NPCI's cross border work is done through its subsidiary NIPL. RuPay is a card scheme, like the international schemes it replaced.

The correct answer is A, Dr B. R. Ambedkar. BHIM stands for Bharat Interface for Money, and the acronym was chosen in honour of Dr Bhimrao Ramji Ambedkar, the chairman of the drafting committee of the Constitution and a trained economist. Option B is wrong because Bhimsen Joshi was a Hindustani classical vocalist and a Bharat Ratna, honoured in music rather than in payments. Option C is wrong because the app is not named after the Mahabharata character, though the name is often assumed to be mythological. Option D is wrong because no such person is connected with the launch; the option exists only to look plausible. Along with the name, remember that BHIM is only one UPI app and any bank app can pay a BHIM user, because UPI is interoperable by design.

The correct answer is C, the Payment and Settlement Systems Act, 2007. Under this Act no person may commence or operate a payment system in India without authorisation from the Reserve Bank, and it created the Board for Regulation and Supervision of Payment and Settlement Systems within the RBI. Option A is wrong because the Banking Regulation Act of 1949 governs the licensing and working of banks as banks, not payment systems as such. Option B is wrong because the Negotiable Instruments Act of 1881 deals with cheques, bills of exchange and promissory notes, including the offence of dishonour. Option D is wrong because the RBI Act of 1934 constituted the central bank and covers currency issue and monetary matters. Questions pair the year 2007 with the system operators authorised under it, such as NPCI.