PA Exam Materials - Examination point of view - 15

 PA Exam Materials - Examination point of view - 32

PLEASE READ AND KEEP MEMORY THE FOLLOWING POINTS
READ FOR THE EXAMINATION PURPOSE
IPPB products and services:

Savings Accounts:
• Regular Savings Account: 
o Eligibility: 10 years and above.
o Zero balance account opening.
o No monthly average balance required.
o Free monthly e-statement.
o Can be linked to POSA.
o Interest rate: 2.75% p.a. (quarterly).
o Unlimited cash deposits and withdrawals.
o Sweep facility to linked POSA above ₹2 lakh EOD.
• Basic Savings Account: 
o Eligibility: 10 years and above.
o Zero balance account opening.
o No monthly average balance required.
o Free monthly e-statement.
o Can be linked to POSA.
o Interest rate: 2.75% p.a. (quarterly).
o Four cash withdrawals allowed per month.
o Sweep facility to linked POSA above ₹2 lakh EOD.
• Digital Savings Account: 
o For tech-savvy individuals (18+ years with Aadhaar and PAN).
o Self-opening via Mobile app.
o Interest rate: 2.75% p.a. (quarterly).
o No monthly average balance required.
o KYC completion within 12 months is mandatory.
o Account closure if KYC not completed.
o KYC via access points or GDS/Postman.
o Upgrades to Regular Savings Account after KYC.
o Maximum yearly cumulative deposit: ₹2 lakhs.
Current Account:
• For small merchants/kirana stores and individual businessmen.
• Merchant App available.
• Zero balance account opening.
• Nominal monthly average balance (MAB): ₹1000.
• Unlimited cash deposits and withdrawals.
• Non-maintenance charges on MAB: ₹100.
• Cheque facility currently stopped.
DakPay:
• Digital payment app launched by DoP and IPPB (December 15, 2020).
• Provides interoperable banking services for customers of any bank.
• Based on BHIM-UPI platform.
• Aims for financial inclusion and Aatma Nirbhar Bharat.
Services:
• Mobile banking.
• SMS banking.
• Missed call banking.
• Phone banking.
• QR card.
• Digital Life Certificate.
• Domestic Money Transfer.
• AEPS.
Mobile Banking:
• Simple, secure, and easy-to-use Mobile app.
• Access IPPB account and perform transactions via mobile.
• Download IPPB app from Google Play Store.
• Registration requires: Account number, Customer ID (CIF) and DOB, Registered mobile number.
• Available services: Balance enquiry, statement request, intra-bank fund transfer, inter-bank fund transfer, bill payments, prepaid/DTH recharge, manage linked POSA (Sweep-in/out).
SMS Banking:
• Access account details via SMS to 7738062873.
• Compatible with all mobile handsets.
• No internet required.
• Accessible 24x7.
• Registration: Send "REGISTER" to 7738062873.
• Services (SMS to 7738062873): Balance enquiry (BAL), Mini statement (MINI).
Missed Call Banking:
• Register by giving a missed call to 8424054994 (from registered mobile number).
• Services: 
o Balance enquiry: Missed call to 8424046556.
o Mini statement: Missed call to 8424026886.
Phone Banking:
• Call toll-free number 155299.
• Services: 24x7 account information, immediate query response, account-related information, doorstep banking request booking, interest rate queries, last five transactions information.
QR Card (Quick Response Card):
• Access account without remembering account number.
• Transactions via OTP authentication and valid OVD.
• Issued to Regular, Basic, and Current accounts (