CAT Questions

---

As per guidelines of the RBI, payments banks can accept demand deposits – savings and current – up to a maximum of ?1 lakh per customer. To overcome this restriction of holding a maximum balance of ?1 lakh per customer, payments banks have entered into tie-ups with mainline banks so that balances over ?1 lakh can be converted into fixed deposits with the latter. 

Ans. E.
In the given sentences, boiled down is the phrasal verb that should have been used which means summarizing something, to reduce or simplify
(something) to the most basic, essential, or fundamental element(s). In this context it means that the one who had more power succeeded. 'Boiled down' should be followed by 'to' and not 'for', hence option D is incorrect.

The minimum paid-up equity capital for small finance banks shall be Rs. 100 crore. 

The Mahanadi is a major river in East Central India. It drains an area of around 141,600 square kilometres and has a total course of 858 kilometres Mahanadi is also known for the Hirakud Dam. The river flows through the states of Chhattisgarh and Odisha. Mahanadi river in central India, rising in the hills of southeastern Chhattisgarh state.