Question 1

What company has received approval for its merger with North East Small Finance Bank (NESFB)?

Accepted Answer

Concept & Fact
The Reserve Bank of India (RBI) oversees and approves major mergers and acquisitions in the banking sector to ensure financial stability and regulatory compliance.

Step-by-Step Solution
• North East Small Finance Bank (NESFB) sought a strategic merger to enhance its technological footprint and capital base.
• The fintech startup "Slice" (operated by Garagepreneurs Internet Pvt Ltd) applied for this merger.
• The Competition Commission of India (CCI) and subsequently the RBI granted approval for the merger of the fintech firm Slice with NESFB.

Exam Strategy & Shortcut
Connect "Slice", which originally started as a credit card challenger (fintech), to its aggressive move into traditional banking by acquiring a Small Finance Bank license through a merger.

Common Pitfall
Confusing this with Paytm's regulatory struggles with its own Payments Bank, or PhonePe's wealth management acquisitions. Slice is the specific entity merging with NESFB.

Final Answer
Therefore, the correct answer is Slice.

Question 2

Which company has secured orders from two regional banks — Kerala Gramin Bank and Karnataka Gramin Bank — for its banking Superapp and digital transformation?

Accepted Answer

Concept & Banking Technology News
Regional Rural Banks (RRBs) in India are rapidly modernizing their technological infrastructure by partnering with specialized fintech and IT firms to offer mobile-first services to rural customers.

Step-by-Step Solution
• Identify the Banks: Kerala Gramin Bank and Karnataka Gramin Bank are major regional rural banks seeking to digitize their customer-facing platforms.
• Identify the Project: The project involves building a "Superapp" and leading digital transformation initiatives.
• Identify the Vendor: Recently, Network People Services Technologies Limited (NPST), a prominent fintech company specializing in digital payments and banking solutions, officially announced securing these specific contracts.

Exam Strategy & Shortcut
In banking current affairs, do not blindly guess top-tier IT giants (like TCS or Infosys) for every digital initiative. Specialized fintech players like NPST are frequently winning contracts for specific agile deployments like Superapps.

Common Pitfall
Automatically assuming a major IT conglomerate like TCS (which handles core banking software like BaNCS for many banks) or Infosys (Finacle) handles every mobile application project.

Final Answer
Therefore, the correct answer is Network People Services Technologies Limited (NPST).

Question 3

Which fintech company has launched a new shopping app called "Pincode" which is built on top of the ONDC platform?

Accepted Answer

Concept & Facts
ONDC (Open Network for Digital Commerce) is a government-backed initiative in India aimed at democratizing e-commerce by creating an open network, breaking the monopoly of giant e-commerce platforms.

Step-by-Step Solution
• Fintech major PhonePe recognized the potential of the ONDC network for hyperlocal commerce.
• To capitalize on this, PhonePe launched a separate, standalone consumer shopping app named "Pincode".
• The app is designed to connect consumers with local neighborhood stores directly through the ONDC protocol.

Exam Strategy & Shortcut
PhonePe is aggressively expanding beyond basic UPI payments into merchant services and e-commerce. Pincode is their flagship entry into the ONDC ecosystem.

Common Pitfall
Selecting Paytm, as they were the very first major app to integrate ONDC directly into their main app. However, the specific *new, standalone app* called "Pincode" belongs exclusively to PhonePe.

Final Answer
Therefore, the correct answer is PhonePe.

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