Latest Banking Dates General Knowledge(GK) Questions and answers

1 .

Which Bank announced (12th Dec 2022) the Partners with Startup India for 'Parivartan SmartUp Grants'?

A)

ICICI Bank

B)

HDFC Bank

C)

Axis Bank

D)

Union Bank of India

Correct Answer : HDFC Bank

HDFC Bank 12th Dec 2022 announced the launch of its sixth annual grants program for social startups in partnership with the Government of India’s flagship initiative ‘Startup India’.

* Known as Parivartan SmartUp Grants, the program aims to identify startups working in the social impact space and support them through monetary grants to their incubators.

* The grants have been offered under the aegis of Parivartan, the umbrella name for the bank’s social initiatives. So far, the bank has disbursed over Rs 30 crore to more than 45 incubators which supported over 165 start-ups working in areas like environment, agri-business, ed-tech, waste management, healthcare, and skill development sectors.

* The bank has been enabling startups through its state-of-the-art SmartUp program, which provides specialised banking and value-added services to entrepreneurs. It aims to assist start-ups in achieving their goals through the bank’s well renowned and highly advanced smart financial tools, advisory services, and technology.

* “As of FY22, through our various CSR initiatives, we have impacted the lives of over 9.6 crore people across the country. We aim to achieve positive change in people's lives through direct and indirect interventions through Parivartan, empowering them to become self-sufficient and integrated into society.

* We are proud to announce our partnership with Startup India for our 6th Parivartan SmartUp Grants which would help socially conscious businesses to achieve their vision and mission,” said Nusrat Pathan, Head – ESG & CSR, HDFC Bank.

* “The Indian Government and Incubators have played a crucial role in creating an ecosystem that helps entrepreneurs through their journey. When the problem statement is a social objective or cause, the battle is more arduous, to say the least.

* The last 5 years through the SmartUp grants program we have made some contribution towards bridging the funding gap for these social-impact startups. With the 6th edition, along with our incubator partners and support from Startup India, we strive to create more efficient and effective outcomes for all,” said Neha Agrawal, Head – Venture Investments, Structured Finance & CSR for Startups HDFC Bank..

Source : HDFC Bank

2 .

Which bank Shortlists 7 Global Consultancy Firms to Use AI, ML to Improve Regulatory Supervision?

A)

World Bank

B)

Reserve Bank of India (RBI)

C)

New Development Bank (NDB)

D)

Asian Development Bank (ADB)

Correct Answer : Reserve Bank of India (RBI)

In its bid to extensively use advanced analytics, artificial intelligence and machine learning to analyse database and improve regulatory supervision over banks and NBFCs, the Reserve Bank of India (RBI) is mulling over to hire external experts.

The central bank has shortlisted 7 global consultancy firms, including Pricewaterhouse Coopers, McKinsey and Boston Consulting Group (India), to use Artificial Intelligence(AI) and Machine Learning(ML) for supervisory functions.

For generating supervisory inputs, RBI, in September 2022, invited expressions of interest (EoI) for engaging consultants for use of advanced analytics, artificial intelligence and machine learning. RBI has shortlisted seven applicants for participating in the request for proposal process (RFP) for the selection of consultant(s).

Who Are these 7 Companies : The seven firms shortlisted by RBI are: Accenture Solutions Private Limited, Boston Consulting Group (India) Pvt Ltd, Deloitte Touche Tohmatsu India LLP, Ernst and Young LLP, KPMG Assurance and Consulting Services LLP, McKinsey and Company, and Pricewaterhouse Coopers Pvt Ltd.

Need of This: Its Objective : The central bank is already using AI and ML in supervisory processes. However, it aims to ensure that the benefits of advanced analytics can accrue to the central bank’s Department of Supervision. The Department of Supervision has been developing and using linear and a few machine-learnt models for supervisory examinations.

With the objective of assessing financial soundness, solvency, asset quality, governance framework, liquidity, and operational viability to protect depositors’ interests and financial stability, RBI undertakes supervision over banks, urban cooperative banks, NBFCs, payment banks, small finance banks, local area banks, credit information companies and select all Indian financial institutions..

Source : Businessworld

3 .

RBI signs Currency Swap Agreement with which country?

A)

Maldives

B)

Japan

C)

Sri Lanka

D)

Bangladesh

Correct Answer : Maldives

The Reserve Bank of India (RBI) has signed a Currency Swap Agreement with the Maldives Monetary Authority (MMA) under the SAARC Currency Swap Framework.

This is to provide swap support as a backstop line of funding for short term foreign exchange liquidity requirements. This agreement will enable the MMA to make drawals in multiple tranches up to a maximum of USD 200 million from the RBI..

Source : RBi

4 .

Which Bank approves $780 mn loan for Chennai's metro rail network?

A)

World Bank

B)

Reserve Bank of India

C)

New Development Bank

D)

Asian Development Bank

Correct Answer : Asian Development Bank

The Asian Development Bank (ADB) approved on Thursday(8th Dec 2022) a $780 million multi-tranche financing facility (MFF). With an aim to build new lines and improve the connectivity of metro rail services in Chennai with the city’s existing bus and feeder services

“This project will expand Chennai’s metro rail system to provide a safe and integrated transport solution essential in improving urban mobility and making the city more livable," said ADB Senior Transport Specialist for South Asia Andri Heriawan.

“By fostering a shift to less greenhouse-gas-emitting metro systems, it will also benefit climate change mitigation and, through appropriate design elements, improve resilience to climate change," the senior functionary added.

The international organization which is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific also announced a $1 million additional technical assistance (TA) grant to help the Chennai Metro Rail Limited with the planning and management of the metro system’s multimodal integration.

“The project will construct 10.1 kilometers (km) of the elevated section between Sholinganallur to State Industries Promotion Corporation of Tamil Nadu-2, including 9 metro stations and system components; 10 km of the underground section between Lighthouse and Meenakshi College including 9 stations; and 31 km of system components, such as electrical, mechanical, power, and telecommunication infrastructure, between Chennai Mofussil Bus Terminus to Okkiyam Thoraipakkam."..

Source : Mint

5 .

Which Bank on 6 December 2022 has bagged an EAG Laureate award?

A)

IDBI Bank

B)

Canara Bank

C)

Bank of Baroda

D)

Union Bank of India

Correct Answer : Bank of Baroda

State-owned Bank of Baroda (BoB) on Tuesday(6th Dec 2022) said it has bagged an EAG Laureate Award in the International Olympiad on Financial Security held at Sochi, Russia.

* The Eurasian Group on combating money laundering and financing of terrorism (EAG) is a FATF-style regional body which comprises 9 countries including India.

* Financial Action Task Force (FATF) is an intergovernmental organisation combats with money laundering and to maintain certain interest.

* EAG has organised a contest on 'Best example of AML-CFT Financial Analysis' amongst the Compliance Officers of the member countries in the international Olympiad on Financial Security at Sochi, Russia on October 10, 2022, BoB said in a statement..

Source : Latestly

6 .

World Bank on (2nd Dec 2022) approved finance which country with USD 250 million for environmental management?

A)

India

B)

Pakistan

C)

Bangladesh

D)

Afghanistan

Correct Answer : Bangladesh

The World Bank on Friday(2nd Dec 2022) approved USD 250 million financing to help Bangladesh strengthen environment management and promote private sector participation in green investment.

Successful implementation of the Bangladesh Environmental Sustainability and Transformation (BEST) Project will help the country tackle key pollution issues, benefitting over 21 million people living in Greater Dhaka and beyond.

The project will help construct four vehicle inspection centres using private-public partnership modality to inspect about 46,000 vehicles annually. An E-waste management facility will be set up to process 3,500 metric tons of e-waste annually. The project will help reduce over 1 million metric tons of GreenHouse Gas emissions from targeted sources..

Source : News on Air

7 .

5th consecutive hikes 2022, RBI's Monetary Policy Committee hikes repo rate by 35 basis points (bps) to what percentage?

A)

6.01%

B)

6.25%

C)

6.89%

D)

7.32%

Correct Answer : 6.25%

* The Reserve Bank of India (RBI) on Wednesday(7th Nov 2022) raised its key repo rate, or the key lending rate, by a smaller 35 basis points to 6.25%, to curb lingering inflation pressures. This is RBI's fifth straight increase in key lending rate.

* "Our financial system remains robust and stable, and corporates are healthier than before. India is widely seen as a bright spot in an otherwise gloomy world," said RBI Governor Shaktikanta Das in his policy statement.

* RBI has lowered its gross domestic product (GDP) growth forecast for FY23 to 6.8% from 7% earlier, Das announced.

* The Monetary Policy Committee (MPC) maintained its stance on "withdrawal of accommodation", with four out of six members voting in favour as the committee continues to focus on pulling out high levels of cash from the banking system without stunting growth. Five of the six MPC members voted in favour of the rate hike increase.

* CPI inflation forecast for October-December 2022 has been raised to 6.6% from 6.5%. CPI inflation forecast for January-March 2023 has been raised to 5.9% from 5.8%.

* CPI inflation forecast for April-June 2023 retained at 5%. CPI inflation is seen at 5.4% in July-September 2023, said RBI Governor.

* The standing deposit facility rate and the marginal standing facility rate were also increased by the same quantum to 6% and 6.5%, respectively..

Source : Businesstoday

8 .

State Bank of India (SBI) says personal banking advances cross how many lakh-crore mark?

A)

â‚¹ 3.4 Lakh-Crore

B)

â‚¹ 4 Lakh-Crore

C)

â‚¹ 4.5 Lakh-Crore

D)

â‚¹ 5 Lakh-Crore

Correct Answer : â‚¹ 5 Lakh-Crore

State Bank of India (SBI) today(5th Dec 2022) announced that its personal banking advances excluding high value home loans have crossed the â‚¹ 5 lakh-crore mark.

* The largest lender in the country took a year to book the last â‚¹ 1 lakh crore of advances, as against over 15 months for the previous â‚¹ 1 lakh crore and over 30 months for the previous â‚¹ 1 lakh crore, as per an official statement.

* "A series of tactical measures and digital initiatives undertaken over the past few years played a crucial role in our journey to the â‚¹ 5 lakh-crore mark under personal banking advances," the bank's chairman Dinesh Kumar Khara said.

* Dinesh Kumar Khara stressed that the â‚¹ 5 lakh crore excludes housing loans, where the bank has the numero uno position in the market.

* Personal Banking advances mainly comprise personal loans, pension loans, auto loans, education loans, gold loans, and other Personal loan products, the statement said.

* SBI has 22,309 branches, over 65,000 automated teller machines(ATM) and also 66,757 business correspondent outlets, which drive the entire retail banking franchise..

Source : NDTV

9 .

RBI and the Financial Services Agency (FSA), _________exchanged letters of cooperation in the field of Central Counter Parties (CCPs).

A)

Japan

B)

Russia

C)

China

D)

United States

Correct Answer : Japan

The Reserve Bank of India (RBI) and the Financial Services Agency (FSA), Japan, on Wednesday(30 Nov 2022) exchanged letters of cooperation in the field of Central Counter Parties (CCPs) with the objective of improving mutual cooperation.

With this exchange of letters, RBI and FSA are committed to deepen relations between the two countries and strengthen the exchange of information, according to a statement from RBI.

RBI and FSA also expressed their willingness to hold a dialogue or exchange views about matters of common interest and concerns as appropriate. The letters confirm the interest of both jurisdictions in enhancing cooperation in line with their respective laws and regulations.

A central clearing counter party, also referred to as a central counter party, is a financial institution that takes on counter party credit risk between parties to a transaction and provides clearing and settlement services for trades in foreign exchange, securities, options, and derivative contracts.

The letters will also provide a strong foundation for promoting mutual understanding and cooperation pertaining to CCP activities in cross-border context. The cooperation will be mutually beneficial and ensure soundness of the financial markets in both the jurisdictions..

Source : ANI

10 .

Which Bank has won the "Banker's Bank of the Year Award 2022" for the Indian segment of the Global Banking Summit?

A)

Canara Bank

B)

Indian Bank

C)

Union Bank of India

D)

State Bank of India

Correct Answer : Canara Bank

Canara Bank on Friday(2nd Dec 2022) announced that it received the “Banker’s Bank of the Year Award 2022” for the India segment at the Global Banking Summit. The public sector lender has been adjudged as the Best Bank in India for 2022.

* The event was held in London from November 29-December 1, 2022 where the bank’s MD and CEO L V Prabhakar received the award from the organisers, a statement from the public sector lender said.

* The Bankers’ Bank of the year awards are considered to be like Oscar awards for the banking sector and the winners are judged on their ability to deliver returns, strategy, innovation, technology and product and services in their respective geographies in the last 12 months.

* The Banker’s magazine is a premier global banking and finance resource for more than 180 countries across the world. The publication is from the house of Financial Times (FT) group, which is the British-based global financial daily newspaper founded in 1888..

Source : Indian Express