What was the percentage of bank credit growth in the quarter ended June 2022 in India?

Banking - General Knowledge Questions

12.4%

13.0%

13.7%

14.2%

Correct Answer : 14.2%

According to RBI statistics released on Thursday(25th Aug 2022), bank credit growth increased from 6% in the same quarter last year to 14.2% in the quarter that ended in June 2022.

Bank credit has increased by 10.8% in the three months that ended in March 2022. On Thursday(25th Aug 2022), the Reserve Bank of India (RBI) published the "Quarterly Statistics on Deposits and Credit of SCBs for June 2022." This information is gathered from all scheduled commercial banks (SCBs), which also include small financing banks (SFBs), regional rural banks (RRBs), and payment banks (PBs).

All population groups (rural, semi-urban, urban, and metropolitan), all bank groups (public/private sector banks, foreign banks, RRBs, and SFBs), and all geographic areas of the nation (central, eastern, north-eastern, northern, southern, and western) recorded double-digit annual credit growth in June 2022, according to the data.

Over the past five quarters, annualized deposit growth has been between 9.5% and 10.2%. Metropolitan branches continue to account for more than half of all bank deposits, and during the past year, their proportion has slightly grown.

Over the past three years, the proportion of deposits from current and savings accounts (CASA) in total deposits has increased (42% in June 2020, 43.8% in June 2021, and 44.5 % in June 2022).

The statistics revealed an increase in the credit-deposit (C-D) ratio as credit growth has recently outpaced deposit growth. The C-D ratio for all of India was 73.5% in June 2022 (compared to 70.5% a year earlier), while it was 86.2% for bank branches in major cities (84.3% a year ago)..

Source : India info line

Published On : August 28, 2022

Recent Updates in Banking - General Knowledge Questions

Q .

Which Payments Bank Launches NCMC-enabled Debit and Prepaid Cards?

Fino Payments Bank

Jio Payments Bank

Airtel Payments Bank

PhonePe Payments Bank

Correct Answer : Airtel Payments Bank

Airtel Payments Bank has introduced NCMC-aligned debit and prepaid cards in collaboration with NPCI, powered by RuPay. These cards are designed to support India’s One Nation, One Card initiative. Savings account holders can avail NCMC-enabled debit cards, while wallet users can opt for prepaid cards. Crafted from eco-friendly e-PVC material, these cards offer versatility in payment options, including offline transit transactions, online shopping, and enhanced security with EMV Chip protection.

Key Benefits of NCMC Enabled Card :

* All-in-One Travel Solution : Seamlessly use the card for offline transit transactions like metros, buses, tolls, and parking.

* Versatile Usage : From offline shopping to e-commerce purchases, ticket bookings, and fuel payments, the card covers various transaction needs.

* Flexible Payment Options : Enjoy multiple fare options, including pay-per-ride and purchase passes.

* Enhanced Security : Ensure better security with the highly secured EMV Chip-protection feature.

SBI NCMC Card Integration with Bharat BillPay Platform :

* State Bank of India (SBI) has integrated NCMC cards on its Bharat BillPay platform in collaboration with NPCI Bharat BillPay Ltd. Commuters can now recharge their NCMC cards online, with amounts up to Rs 10,000, using prepaid, debit, or credit cards.

* This integration extends convenience to travelers, with the service already live for various metro networks and more platforms set to follow suit. Noopur Chaturvedi, CEO of NPCI Bharat BillPay, highlights the move as a step towards easing digital payments, backed by the reliability and safety of the Bharat BillPay platform.

Published On : April 20, 2024

Category : Banking

Q .

Which Bank has implemented service charges for Aadhaar Enabled Payment System (AePS) transactions, effective June 15, 2022?

India Post Payments Bank

Paytm Payments Bank

Punjab National Bank

Indian Overseas Bank

Correct Answer : India Post Payments Bank

India Post Payments Bank (IPPB) has implemented service charges for Aadhaar Enabled Payment System (AePS) transactions, effective from June 15, 2022. AePS is a bank-led model allowing online financial transactions at Point of Sale (PoS) terminals through Aadhaar authentication, enabling various banking services.

IPPB AePS Service Charges :

* The first three AePS issuer transactions per month, including cash withdrawal, cash deposit, and mini statement, will be free.
* Transactions exceeding the free limit will incur charges: ?20 plus GST per transaction for cash withdrawals and deposits, and ?5 plus GST per transaction for mini statements.

Services Provided by AePS :

Banking Services :

* Cash Deposit

* Cash Withdrawal

* Balance Enquiry

* Mini Statement

* Aadhaar to Aadhaar Fund Transfer

* Authentication

* BHIM Aadhaar Pay

Other Services :

* eKYC

* Best Finger Detection

* Demographic Authentication

* Tokenization

* Aadhaar Seeding Status

IPPB NEFT/RTGS Transactions :

* IPPB has signed a sub-membership agreement with the Department of Post to facilitate NEFT/RTGS transactions for their customers.
* A dedicated IFS code, “IPOS0000DOP,” has been created exclusively for transactions in DoP Customer accounts.
* For inward transactions to IPPB accounts, the IFS code “IPOS0000001” should be used, while for Post Office Savings Account (POSA) accounts in DoP, “IPOS0000DOP” is to be used.
* Customers are advised to ensure accurate beneficiary account numbers to facilitate proper credit, as IPPB account numbers and POSA account numbers may share similar structures in some branches.

Published On : April 16, 2024

Category : Banking

Q .

Which bank became the first private bank to open a branch in Lakshadweep?

Axis Bank

HDFC Bank

ICICI Bank

State Bank of India

Correct Answer : HDFC Bank

HDFC Bank's initiative to open a branch in Lakshadweep, specifically at Kavaratti Island, marks a milestone as it becomes the first private sector bank to establish a presence in the Union Territory.

This move underscores HDFC Bank's commitment to expanding its reach and offering banking services, including personalized digital solutions, to the residents and businesses of Lakshadweep.

Published On : April 11, 2024

Category : Banking