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Banking - General Knowledge Questions
A)
Canara Bank
B)
Indian Bank
C)
Bank of India
D)
Union Bank of India

Correct Answer : Option (A) - Canara Bank

Canara Bank on Friday (20th January 2023) said it plans to sell its stake in Russian joint venture (JV) Commercial Indo Bank LLC (CIBL) to the other venture partner State Bank of India (SBI) for about Rs 114 crore.
 
* CIBL, incorporated in 2003, is a joint venture in Russia between SBI (60 per cent) and Canara Bank (40 per cent).
 
* Canara Bank has entered into a share sale agreement in relation to sale of equity shares held by it in Moscow-based CIBL with SBI, the bank said in a regulatory filing.
 
* The Bengaluru-based state-owned bank entered into the agreement for sale on November 11, 2022, it said.
 
* Based on share sale agreement and with the consent of Central Bank of Russia, entire shares held by Canara Bank have been transferred to SBI on November 30, 2022, it said.
 
* "However, consideration in USD as agreed by the parties is not yet received. Expected to complete the transaction on or before March 31, 2023," it said.
 
* Canara Bank is expected to receive USD 14.67 million or about Rs 114 crore from SBI for its 40 per cent stake transfer...

Source : Business Standard

A)
Ujjivan Small Finance Bank
B)
ESAF Small Finance Bank
C)
AU Small Finance Bank
D)
IDFC First Bank Limited

Correct Answer : Option (B) - ESAF Small Finance Bank

ESAF Small Finance Bank has bagged the prestigious Inclusive Finance India Awards 2022 for its contributions in advancing the goal of financial inclusion and supporting inclusive growth.
 
K. Paul Thomas, MD and CEO, ESAF Bank, received the award from Anantha Nageshwaran, Chief Economic Advisor at the 19th Inclusive Finance India Summit held in New Delhi.
 
The Inclusive Finance India Awards is an initiative of ACCESS Development Services constituted in 2009 in partnership with HSBC India.

“This valued recognition is a great encouragement for us to reach out to more deserving people who are still out of the banking purview in our country.

ESAF Bank has successfully fostered a culture of financial discipline and also encouraged those people, especially women, to become financially stable in the unbanked and underbanked regions of the country.”
 
This award is a recognition of ESAF’s unique spectrum of Financial Inclusion projects ESAF Dhansree, ESAF Udyog Jyothi, LSEDP (Local Sustainable Economic Development Project), ESAF Balajyothi, ESAF Vayojyothi, and ESAF Garshom...

Source : The Hindu Businessline

A)
Rs 9,718 Cr
B)
Rs 9,999 Cr
C)
Rs 10,542 Cr
D)
Rs 10,957 Cr

Correct Answer : Option (A) - Rs 9,718 Cr

The country's largest lender SBI has raised Rs 9,718 crore through its second infrastructure bond issuance on Wednesday (18 January 2023) at coupon rate of 7.70%.
 
* The proceeds of bonds will be utilized in enhancing long term resources for funding infrastructure and affordable housing segment. The tenor of these bonds is 15 years.

* The issue attracted bids of Rs 14,805 crore and was oversubscribed by about 2.96 times against the base issue. The total number of bids received was 118 indicating wider participation.

* The investors were across mutual funds, provident & pension funds & insurance companies. The bank has AAA credit rating from domestic credit rating agencies for these instruments.
 
* Based on the response, SBI decided to accept Rs 9,718 crore at a coupon rate of 7.70% payable annually for a tenor of 15 years.
 
* Prior to this bank had raised infrastructure bonds of Rs 10,000 crore on 6 December 2022 at a spread of 17 bps over the corresponding FBIL G-Sec par curve.
 
* This is the first time any bank in India is issuing a 15 years long term infra bond and it will help the bank in lending long term to infrastructure.
 
* SBI is banking and financial services statutory body engaged in providing a wide range of products and services to individuals, commercial enterprises, large corporates, public bodies, and institutional customers.

* The bank's net profit jumped 73.9% to Rs 13,624.52 crore on 14.2% rise in total income to Rs 88733.86 crore in Q2 FY23 over Q2 FY22.
 
* The scrip was down 0.53% to Rs 588.25 on the BSE...

Source : Business Standard

A)
Karur Vysya Bank
B)
Tamilnad Mercantile Bank
C)
City Union Bank
D)
South Indian Bank

Correct Answer : Option (B) - Tamilnad Mercantile Bank

Tamilnad Mercantile Bank (TMB) was awarded the Best Small Bank Award 2022 in the 'Best Banks Survey for the year 2022’, conducted by Business Today-KPMG (BT-KPMG Best banks survey).

The award was presented by Union Minister, Nitin Gadkari to S.Krishnan (TMB MD and CEO).

TMB was awarded under the category of banks with a book size of less than ₹1 lakh crore.

BT-KPMG : It is conducting BT-KPMG Best banks survey and awarding the best banks with 37 parameters..

Source : The Hindu

A)
Jio Payments Bank
B)
Fino Payments Bank
C)
Paytm Payments Bank
D)
Airtel Payments Bank

Correct Answer : Option (C) - Paytm Payments Bank

Paytm Payments Bank on Monday (16th Jan 2023) said it has received final approval from the Reserve Bank of India to operate as a Bharat Bill Payment Operating Unit (BBPOU).
 
Under Bharat Bill Payment System (BBPS), a BBPOU is allowed to facilitate bill payment services of electricity, phone, DTH, water, gas insurance, loan repayments, FASTag recharge, education fees, credit card bill and municipal taxes.
 
BBPS is owned by the National Payments Corporation of India.
 
So far, Paytm Payments Bank Ltd (PPBL) has been undertaking this activity under in-principle authorisation from RBI.
 
"PPBL has got the final approval from RBI to operate as Bharat Bill Payment Operating Unit (BBPOU) under the Payment and Settlement Systems Act, 2007.

As an entity under Bharat Bill Payment System (BBPS), PPBL has got the final authorization to conduct bill payment and aggregation business as a BBPOU," the company said in a statement...

Source : Mint

A)
Yes Bank
B)
Bank of India
C)
Union Bank of India
D)
State Bank of India

Correct Answer : Option (D) - State Bank of India

State Bank of India (SBI) has inked a memorandum of understanding (MoU) with Warehousing Development Regulatory Authority (WDRA) to help farmers in getting low interest rate loans.
 
The MoU was signed with the intent of promoting awareness about the new loan product called 'Produce Marketing Loan' to exclusively fund against e-NWRs (electronic Negotiable Warehouse Receipt) with features such as nil processing fee, no additional collateral and attractive interest rates.

Combined with the inherent security and negotiability of the e-NWR system, the 'Produce Marketing Loan' will go long way in improving rural liquidity and increasing farmers income.
 
SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc...

Source : Moneyworks4me

A)
Canara Bank
B)
Federal Bank
C)
Union Bank of India
D)
Indian Bank

Correct Answer : Option (D) - Indian Bank

Indian Bank has received the Reserve Bank of India (RBI) regulatory approval to hold special rupee vostro accounts of three banks from Sri Lanka.

The lenders are struggling against serious foreign exchange crunch.
 
The Chennai-headquartered public sector bank, which has had a long presence in the South Asian island nation, is expected to activate the special vostro accounts in about a week.
 
A vostro account in local currency would allow Sri Lanka to import from India without dipping into its declining dollar supply.

The INR vostro facility is part of the special trade settlement mechanism finalised by the RBI in July 2022.
 
The arrangement allows Indian importers to deposit rupees in vostro accounts that overseas banks open with banks in India and clearing of dues to Indian exporters from the surplus balances in the vostro accounts..

Source : Money Control

A)
South Indian Bank
B)
Indian Overseas Bank
C)
Bank of India
D)
IDFC FIRST Bank

Correct Answer : Option (A) - South Indian Bank

The South Indian Bank launched a MSME online portal providing instant online ‘In Principle’ approval of up to ₹1 crore.
 
MSME enterprises are the most important pillars of the economy and the government is working towards making the sector stronger. This development is at the backdrop of central government considering to make India a $5 trillion economy.
 
South Indian Bank is facilitating MSMEs to get instant funds. This initiative will help thousands of micro and small businesses avail loans quickly.
 
Murali Ramakrishnan, MD & CEO, South Indian Bank said, “India is a hub for MSME’s and we are truly determined to serve this sector by providing instant facility. This initiative will help domestic sector to achieve their dream of scaling up businesses who had difficulty in securing loans..

Source : The Hindu Businessline

A)
SBI
B)
Axis Bank
C)
Yes Bank
D)
RBL Bank

Correct Answer : Option (B) - Axis Bank

Axis Bank announced signing a Memorandum of Understanding (MoU) with the Indian Institute of Science (IISc), Bengaluru to establish a Centre for Mathematics and Computing at the Institute.  
 
The centre spread over 1.6 lakh square feet will have labs and programmes benefitting faculty and students. Additionally, it will host the new IISc BTech programme in Mathematics and Computing and the ongoing Interdisciplinary PhD programme in Mathematical Sciences.

Over 500 engineers and scientists are estimated to be benefited annually.
 
Govindan Rangarajan, Director, IISc, said, “Mathematics and Computing are at the core of critical disciplines like Computational Fluid Dynamics, Computational Biology, Quantum Computing, Precision Medicine, Digital Health, Climate Science, Materials Genomics, Cybersecurity, AI, ML, and Data Science.

The centre will provide a platform for exploring and advancing research and innovation in the above areas and serve as a training ground for the next generation of leaders in these fields, offering a range of educational and professional development opportunities for students and faculty.”
 
The centre will play a vital role in building the country’s future as many contemporary and futuristic areas such as Artificial Intelligence and Data Science rely on the foundations of mathematics and computing, said the company in a press release.
 
“The higher education ecosystem is a space that is constantly evolving, especially post-Covid, and India has huge potential to stand out as a global hub for new-age, innovative, and quality education. For us, this is one small way to play our part in supporting and nurturing the future generations of the country,” said Amitabh Chaudhry, MD and CEO, Axis Bank..

Source : The Hindu Businessline

A)
HDFC Bank
B)
ICICI Bank
C)
Axis Bank
D)
Bank of India

Correct Answer : Option (C) - Axis Bank

Axis Bank on Tuesday (10th Jan 2023) said it has entered into a revised agreement with Max Financial Services to acquire an additional 7 per cent stake in Max Life Insurance at fair market value using discounted cash flow method.

The revision in agreement follows the guidance issued by the Insurance Regulatory and Development Authority (IRDAI) in October 2022.
 
Axis Bank and its subsidiaries -- Axis Securities and Axis Capital -- had in 2021 entered into definitive agreements with Max Financial Services Ltd for acquiring 20 per cent stake in its subsidiary Max Life Insurance Co Ltd.

Axis Entities had collectively acquired 12.99 per cent of the equity share capital of Max Life.
 
In a regulatory filing on Tuesday (10th Jan 2023), Axis Bank said Axis Entities have entered into revised agreements with Max Financial on January 9, 2023..

Source : India Times