Banking - General Knowledge Questions

Correct Answer :   Bank of Maharashtra (BoM)

Bank of Maharashtra (BoM) has emerged as the top performer among state-owned lenders in terms of loan growth percentage during the third quarter of 2022-23.

* The Pune-based lender recorded a 21.67% increase in gross advances on a year-on-year basis, according to the latest quarterly numbers of the public sector bank (PSB).

* The bank has maintained the top slot in credit growth in percentage terms consistently for the past 10 quarters despite COVID-19 pressures.

* BoM was followed by the Union Bank of India with 19.80 per cent growth. Country's largest lender State Bank of India (SBI) stood at fourth spot with 16.91 per cent rise in advances growth.

* However, SBI's total loans were about 17 times higher at Rs 26,47,205 crore as compared to Rs 1,56,962 crore of BoM in absolute terms.

* In terms of Retail-Agriculture-MSME (RAM) loans, BoM has recorded the highest growth of 19.18 per cent, followed by Punjab & Sind Bank with 19.07 per cent and Bank of Baroda with 18.85 per cent on an annual basis.

* Gross NPAs reported by BoM and SBI were 2.94 per cent and 3.14 per cent of their total advances, respectively, as on December 31, 2022. Net NPAs for these two banks came down to 0.47 per cent and 0.77 per cent.

* With regard to Capital Adequacy Ratio, BoM recorded 17.53 per cent, the highest among PSBs, followed by Canara Bank at 16.72 per cent and Indian Bank at 15.74 per cent as on December 31, 2022..

Source : The Hindu Businessline

Correct Answer :   Indian Overseas Bank

Public sector Indian Overseas Bank has launched the facility of issuance of e-BG (Electronic Bank Guarantee) scheme in association with the National e-Governance Services Ltd, the bank said on Wednesday (15th Feb 2023).

* e-BG : The e-BG is an instrument issued by the city-headquartered bank in which the bank undertakes to guarantee a specific amount against the non-fulfillment of some action/performance of the applicant.

* Features : The main features of the e-BG are completely paperless mode with digital stamping and digital signature.

* Real time issuance of e-BG would make it available for the beneficiary instantly leading to time saving which in turn would fast track all the business purpose for which it is issued..

Source : Business Standard

Correct Answer :   Karnataka Bank

Karnataka Bank was awarded with ‘Prathista Puraskar’ under ‘Digidhan Awards 2021-22’ by Ministry of Electronics and Information Technology (MeitY), government of India for achieving target with highest percentage in BHIM-UPI transactions in private sector bank category.

* Shri. Mahabaleshwara M.S, Managing Director & CEO of Karnataka Bank said “We are happy to receive this award from the Govt. of India and consider it as a recognition for our efforts to carry out our Nation’s vision to strengthen the Digital Payment Ecosystem in the Indian economy.

* Labelled as ‘KBL-NxT’, the Bank is currently undertaking an accelerated digital drive under its Transformation Journey ‘KBL VIKAAS 2.0’. This award is an ideal tribute to the founding fathers of this great institution as Karnataka Bank is stepping into its 100th year of its fruitful existence.”

* Shri. Gokuldas Pai, Chief Business Officer and Shri. Jagadeesh K S, Deputy General Manager, Delhi-Region received the award from Shri. Ashwini Vaishnaw, The Minister for Electronics & Information Technology, Communications and Railways, Govt of India in a function held at New Delhi.


About the Karnataka Bank Limited : Karnataka Bank Limited was incorporated on 18 February 1924, and commenced business on 23 May 1924. Its founders established it at Mangalore, a coastal town in the Dakshina Kannada district of Karnataka.

Karnataka Bank Limited is an Indian private sector bank based in Mangalore. It is an ‘A’ Class Scheduled Commercial Bank with a network of 898 branches, 1 extension counter, 885 ATMs, 563 cash recyclers and 546 e-lobbies/mini e-lobbies across 22 states and 2 union territories. It has 8,519 employees and over 11 million customers throughout the country. Its shares are listed on the NSE and BSE. The tagline of the bank is “Your Family Bank Across India.”..

Source : Karnataka Bank

Correct Answer :   South Indian Bank

South Indian Bank has announced (13th February 2023) the signing of an MoU with Maruti Suzuk India (MSIL) for dealer and retail car financing to help dealer partners streamline vehicle inventory funding and offer comprehensive retail financing solutions to the customers of Maruti Suzuki.

Murali Ramakrishnan, MD, and CEO, South Indian Bank,  sharing his views on the partnership, said "With our diverse finance solutions, we aim to provide convenient and comprehensive finance options for a great synergistic effect.”

The MoU was signed in the presence of Shashank Srivastava, Senior Executive Officer, Marketing and Sales, MSIL, Bhuvan Dheer, Executive Vice President, Sales, MSIL; Vikas Kohli, Vice President, MSIL; Murali Ramakrishnan, MD and CEO, South Indian Bank, and other senior officials from both organizations...

Source : Ten News

Correct Answer :   HDFC Bank

* HDFC Bank has proposed monday(13th Feb 2023) to sell its entire stake of 9.95% (1,65,731 shares) in Softcell Technologies Global Pvt Ltd for ₹9.94 crore at ₹600.36 per share.

* In March 2020, HDFC Bank sold a 2.05% stake (34,150 shares) in  Softcell Technologies Global for Rs 1.47 crore.

* Softcell was founded on 6h September 2018 to sell Information Technology products and offers software and related services...

Source : Free Press Journal

Correct Answer :   Paytm Payments Bank

Paytm Payments Banks Limited (PPBL) has launched Wednesday (15th February 2023) Unified Payments Interface (UPI) LITE, enabled by National Payments Corporation of India (NPCI) for multiple small-value UPI transactions.

* The UPI LITE feature will help with faster real-time transactions with a single click through Paytm as the bank aims to drive the adoption of digital payments across the country.

* The NPCI designed the feature which was launched by Reserve Bank of India (RBI) in September 2022.

* The small value transactions would now only show in the Paytm balance and history section, and not in the bank passbook.

* As a part of its efforts to drive innovation, the Bank said it is the first payments bank to launch such UPI LITE feature.

* "Once loaded, a UPI LITE wallet allows a user to do instant transactions of up to ₹200, making the entire experience quick and seamless. A maximum of ₹2,000 can be added twice in a day to UPI LITE, making the cumulative daily usage up to ₹4,000".

* "We are very excited to launch UPI LITE on Paytm Payments Bank. UPI LITE provides users a faster, secure, and seamless low-value transaction experience.

* With more than 50 per cent of transactions through UPI below ₹200, UPI LITE will successfully provide a distributed way of authorising low-value transactions, moving them away from core banking," said Praveena Rai, COO, NPCI...

Source : Mint

Correct Answer :   Reserve Bank of India

The Reserve Bank of India on Tuesday(14th February 2023) announced its second global hackathon -- 'HARBINGER 2023 - Innovation for Transformation'

Theme : The theme is 'Inclusive Digital Services'.

* Fintechs have been invited to develop solutions that have the potential to make digital financial services accessible to the differently-abled, facilitate efficient compliance, extend the reach of Central Bank Digital Currencies and enhance the scalability of blockchains.

* "Being part of HARBINGER 2023 gives an opportunity to the participants to get mentored by industry experts and exhibit their innovative solutions before an eminent jury and win exciting prizes in each category".

* Registration for the hackathon starts from February 22, 2023.

* The RBI has invited innovative ideas in four segments.

* Winner of the hackathon will be given a prize of Rs 40 lakh and runner-up Rs 20 lakh..

Source : Zeebiz

Correct Answer :   HDFC Bank

Housing Development Finance Corporation (HDFC) Bank on Monday (13th February 2023) announced that it has launched a pilot known as 'OfflinePay' to test offline digital payments for customers and merchants enabling payments transactions even when there is no mobile network.

* The HDFC, it has launched the first-of-its-kind digital payment solution, in partnership with Sweden based Crunchfish Digital Cash AB, a subsidiary of Crunchfish AB, for merchants and customers under the RBI’s Regulatory Sandbox Program.

* Aim : The digital payment solution would boost adoption of digital payments in smaller towns and rural areas with poor network connectivity.

* It can enable cashless payments during large public events, fairs and exhibitions despite network congestion; underground metro stations, parking lots, and retail stores with network blind spots; and even in airplanes, sea-ferries, and trains with no network...

Source : CNBCTV18

Correct Answer :   Kotak Mahindra Bank

The Kotak Mahindra Bank has announced that it will acquire 100% equity shares of Sonata Finance (SFPL) for Rs 537 crore.

* Sonata Finance is a non-banking finance company, which is engaged in microfinance.

* This acquisition will provide Kotak Mahindra Bank access to 502 branches across the ten states.

* The SFPL will become a wholly owned subsidiary of the bank after receiving regulatory and other approvals.

* SFPL has Rs 1,903 crore of assets, servicing a customer base of 9 lakh with 2,882 employees.

* Kotak Mahindra Bank plans to use the acquisition to scale up its operations in the rural and semi-urban markets in the northern states of India...

Source : Times of India

Correct Answer :   Reserve Bank of India

Reserve Bank of India (RBI) announced (8th February 2023) that QR Code-based Coin Vending Machine (QCVM) will be launched in collaboration with a few leading banks.

Aim : to improve the distribution of coins.

* The pilot project will roll out in 19 locations in 12 cities across the country.

* The QCVM is a cashless coin dispensation machine which will dispense coins against debit to the customer’s bank account using Unified Payments Interface (UPI).

* Unlike cash-based traditional Coin Vending Machines, the QCVM would eliminate the need for physical tendering of banknotes and their authentication.

* Customers will also have the option to withdraw coins in the required quantity and denominations in these machines. These vending machines are planned to be installed at public places such as railway stations, shopping malls, and marketplaces to enhance ease and accessibility.

* Based on the learnings from the pilot tests, RBI will issue guidelines to banks to promote better distribution of coins using QCVMs.

* RBI declared today that travellers from G20 countries will be able to use UPI for their merchant payments while they are in India at selected international airports. In future, this facility will be enabled across all other entry points.

* RBI will issue draft guidelines for transparency in the penal charges or penal interest charged on loans. It will be published on RBI website shortly, for stakeholders' comments...

Source : AIR