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Banking - General Knowledge Questions
A)
6 Years
B)
8 Years
C)
10 Years
D)
12 Years

Correct Answer : Option (C) - 10 Years

The government has raised the maximum tenure of the managing director (MD) and chief executive officer (CEO) of public sector banks (PSBs) to 10 years from 5 years, while retaining the superannuation age at 60.
 
The move will help the government retain talents, who rise through the ranks relatively quickly at state-run banks. It will also enable the PSBs to have relatively young leadership teams that will be in a better position to realise a longer-term vision.
 
The change in the rule also applies to the whole-time directors of central public-sector enterprises, a senior government official said. It will benefit those whole-time directors who have joined the board at a relatively young age of 45-50 years.
 
The Nationalised Banks (Management and Miscellaneous Provisions) Amendment Scheme, 2022, notified by the government, said : “A whole-time director, including the managing director, shall devote his whole time to the affairs of the nationalised bank and hold office for such initial term not exceeding five years and extendable up to a total period, including the initial term, not exceeding 10 years, as the central government may, after consultation with the Reserve Bank, specify and shall be eligible for reappointment.”..

Source : Indian Express

A)
Axis Bank
B)
Union Bank of India
C)
Reserve Bank of India
D)
State Bank of India

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

State Bank of India has signed a 150 million euro (Rs 1,240 crore) loan agreement with the German development bank KfW for funding solar projects.
 
The long-term loan, under the Indo-German solar partnership, will facilitate new and upcoming capacities in the solar sector and further contribute to the country's goals announced during the COP26, the bank said in a statement on Wednesday(16th Nov 2022).
 
The successful closure of the phase-1 under the solar partnership- promotion of solar/PV between SBI and KfW, paves the way for the current phase-2 in our partnership with this German lender, Ashwini Tewari, a managing director at SBI said.

With this facility, he added, the bank has taken another step towards sustainable financing arrangements for meeting the nation's renewable capacity goals and upholding environmental and social standards.
 
In 2015, New Delhi and Berlin had signed a memorandum of understanding to foster solar energy through technical as well as financial cooperation. Through this agreement, Germany had expressed its willingness to provide the concessional loans to India in the range of 1 billion euros through KfW..

Source : Business Standard

A)
Vivek Joshi
B)
C.S. Setty
C)
Ashwani Kumar
D)
A. Manimekhalai

Correct Answer : Option (A) - Vivek Joshi

The Reserve Bank of India (RBI) on Tuesday(15th Nov 2022) announced that the government had nominated Vivek Joshi to its central board.

* Vivek Joshi, who is the Secretary in the Department of Financial Services, will hold the position of Director at the central bank. The nomination has come into effect from November 15, 2022, until further orders.
 
* "The Central Government has nominated Shri Vivek Joshi, Secretary, Department of Financial Services, Ministry of Finance, Government of India, as a Director on the Central Board of Reserve Bank of India vice "Shri Sanjay Malhotra".

* The nomination of Shri Vivek Joshi is effective from November 15, 2022 and until further orders," a Finance Ministry release said.
 
* Vivek Joshi took charge as Secretary, Department of Financial Services (DFS), Ministry of Finance on November 1, 2022. Between 2014 and 2017, he served as joint secretary with the Department of Expenditure, where his responsibilities included formulation of public procurement policies for the Centre and appraisal of publicly funded projects and schemes..

Source : NDTV

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

Correct Answer : Option (B) - Union Bank of India

Union Bank of India, the country’s fifth largest public sector bank, marked its 104th foundation day on 11 November 2022 at MMRDA Ground, BKC, Mumbai, after being founded on 11 November 1919 and having its first head office inaugurated by the Father of the Nation, Mahatma Gandhi.

* On this occasion, the bank introduced a super app called "Union Vyom", as well as several other digital products.
 
* Union Vyom App, the bank’s super app, is a one-stop shop for all financial goods. The Vyom app is equipped to provide consumers with a one-of-a-kind banking experience in which they may conduct transactions that go beyond traditional banking.

* Aside from online transactions, customers can obtain Retail, MSME loan, credit card, invest in 5000+ mutual fund schemes, and purchase insurance goods without requiring any assistance.
 
* Anil Kuril, Chief Technology Officer, Union Bank of India, said, “On the occasion of our 104th foundation day, we have launched ‘Uni-verse 2.0 – Metaverse of Banking’ in a glittering celebration.

* Our MD&CEO has made grand entry through Metaverse in real transition from virtual to physical world.” (Sourced from Anil Kuril’s LinkedIn handle)
 
* Rajnish Khare, Chief Digital Officer, Union Bank of India, said, “VYOM Mobile Banking Launch on our Foundation Day by our Dynamic, Dashing, Dazzling Leader Respected MD Ma’am, Union Bank of India! “Good people to Bank with!”(Sourced from Rajnish Khare’s LinkedIn handle).

Source : BFSI

A)
State Bank of India
B)
Indian Overseas Bank
C)
Union Bank of India
D)
Central Bank of India

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

Business Association of Nagas (BAN) has signed a memorandum of understanding (MoU) with State Bank of India (SBI) at the concluding day of National Integrate Innovate Expand (NIIE) Trade Fair held at NER Agri Expo on Sunday(6th Nov 2022).

The MoU envisages targeting of 1,000 Micro, Small and Medium Enterprises (MSMEs) for financing in the next two years, which is expected to create huge employment opportunities and contribute Rs 3 billion to the GDP.

As per the MoU, BAN will facilitate identification and preparation of MSMEs through project screening, documentation and submission to SBI.

Once the loan is sanctioned, BAN will be responsible in providing training on book keeping, GST filing, statutory compliances, etc.

BAN will also closely monitor, handhold and actively intervene to avoid any loan becoming irregular. Quarterly performance review of all beneficiary will be held between SBI and BAN.

BAN general secretary Dr Yan Murry, through a press statement, said that the MoU would bring hope and huge respite to genuine entrepreneurs of the State.

Source : Nagaland Post

A)
State Bank of India
B)
World Bank
C)
Asian Development Bank
D)
Reserve Bank of India

Correct Answer : Option (C) - Asian Development Bank

The Asian Development Bank (ADB) signed(7th Nov 2022) a $40 million financing package with GreenCell Express Private Limited (GEPL) to develop 255 electric battery-powered buses (e-buses) to serve 5 million people a year on 56 intercity routes in India and enhance the safety of passengers, especially women, through improved security features including panic buttons connected to command controls for immediate response. 
 
The financial package comprises $20.5 million loan (in equivalent Indian rupee) from ADB’s ordinary capital resources, ADB’s administration of a $14 million loan from the Clean Technology Fund (CTF), grants worth $325,000 from the CTF and $5.2 million from Goldman Sach’s and Bloomberg’s the Climate Innovation and Development Fund (CIDF)
 
ADB also assisted in mobilizing an additional parallel loan of $20.5 million from the Asian Infrastructure Investment Bank.
 
A defining feature of this project is the CIDF grant which will partially finance the decarbonization of 100 of the 255 e-buses by deploying solar power-plus-battery energy storage systems, resulting in the reduction of about 6,355 tons of carbon dioxide a year. Overall, the project will reduce emissions by 14,780 tons a year.
 
“Decarbonization of public transport in India is essential for the country to reach its net-zero climate commitments, and it’s important to ensure safety and security of women passengers to make travel more inclusive,” said ADB Private Sector Operations Department Director General Suzanne Gaboury. 
 
“By providing safe transport for women, these intercity buses will enhance their ability to participate in economic and livelihood opportunities,”        
 
India’s public transport needs are expected to grow rapidly as the country urbanizes. In 2020, road transport accounted for 87% of all passenger trips, 18% of total energy consumption, and 11.7% of greenhouse gas emissions..

Source : ADB

A)
Wema Bank
B)
Ecobank
C)
Access Bank
D)
Unity Bank

Correct Answer : Option (D) - Unity Bank

Unity Small Finance Bank Limited (Unity Bank) has launched Shagun 366 (1 year, 1 day) fixed deposit scheme.
 
* The bank also offers return of 7.80% p.a., while 8.30% p.a. return for senior citizens for a 366-day tenure.
 
* This scheme is valid for deposits made before November 30, 2022.
 
* In addition to this, the Unity Bank has also raised the interest rates on both callable (up to 7.75% interest) and non-callable bulk deposits (up to 7.85%). .

Source : Mint

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

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

State Bank of India on Saturday(5th Nov 2022) reported the highest-ever quarterly profit at ₹13,265 crore, reflecting an increase of 74% for the quarter ended September 2022, spurred by robust loan sales, higher interest income and lower provisions.
 
* Total income increased to ₹88,734 crore during the quarter under review from ₹77,689.09 crore a year earlier. Net interest income rose 13% to ₹35,183 crore.
 
 
* Of the total income, more than one-fourth, or ₹24,400 crore, came from investment gains, though the bank has not booked profit from government securities in which it holds an additional exposure of more than ₹3.85 lakh crore, chairman Dinesh Kumar Khara told reporters during the earnings conference at the bank's headquarters.
 
* As the bank nearly passed on the entire rate by the central bank to borrowers as well as depositors, its domestic net interest margin improved to 3.55% from 3.5%.
 
* The asset quality of the bank improved with the gross non-performing asset (NPAs) ratio crashing by 138 basis points (bps) to 3.52% from 4.9%, while net NPAs nearly halved to 0.8% of the advances from 1.52%.
 
* As a result, provisions for bad loans declined to ₹2,011 crore from ₹2,699 crore, the Chairman said.
 
* In absolute terms, gross NPAs declined by 13.8% to ₹1,06,804 crore and net NPAs by 36.5% to ₹23,572 crore.
 
* While the bank earned an interest income of ₹79,860 crore, up 15%, interest expenses rose 16.6% to ₹44,676 crore. Of the total income, the key net interest income rose 12.8% to ₹35,183 crore as its NIM (Net Interest Margin) improved by 5 bps to 3.55%..

Source : The Hindu

A)
World Bank
B)
Reserve Bank of India
C)
Asian Development Bank
D)
New Development Bank

Correct Answer : Option (C) - Asian Development Bank

Smartchem Technologies Limited (STL), a wholly-owned subsidiary of Deepak Fertilisers and Petrochemicals Corporation (DFPCL), on Wednesday(2nd Nov 2022) said the Asian Development Bank (ADB) will fund its farm efficiency initiative through a USD 30 million loan facility. The loan facility will be for a tenure of 5 years.
 
This is ADB's first agribusiness "Blue Loan", and the first such blue loan in India in this sector across institutions, according to a statement.
 
The loan will be used to finance capital expenditure as well as research and development of enhanced-efficiency speciality fertilisers.
 
ADB has also given approval for a technical assistance grant of USD 5,00,000 for building capacity for Soil Nutrition Management among Smallholder Farmers and Climate Resilience in India.
 
The grant is in addition to financing of USD 30 million (Blue loan), it stated.
 
"This financial association with ADB will help enhance our ongoing Specialty Fertiliser business, including the applied R&D and grass-root farmer training initiatives," DFPCL Chairman and Managing Director "Sailesh C Mehta" said..

Source : Economic Times

A)
India Post Payments Bank
B)
State Bank of India
C)
Paytm Payments Bank
D)
Kotak Mahindra Bank

Correct Answer : Option (A) - India Post Payments Bank

India Post Payments Bank (IPPB), stablished under the Department of Posts, Ministry of Communication with 100% equity owned by the Government of India, conducted India’s First Floating Financial Literacy Camp with an initiative called ‘Niveshak Didi’ to promote Financial Literacy ‘By the women, for the women’, in Srinagar, J&K on 2nd Nov 2022.
 
India, being a large & growing economy, still finds it challenging to spread financial literacy across demography, as an enormous share of population still resides in rural areas. IPPB created a new legacy with the help of world’s largest postal network to extend its reach to the last mile and bridge financial inclusion gaps.
 
To take the Financial Literacy drive ahead, IPPB, in collaboration with Investor Education and Protection Fund Authority (IEPFA) under the aegis of Ministry of Corporate Affairs (MCA), launched the initiative called ‘Niveshak Didi’ to promote Financial Literacy “By the women, for the women” concept.

‘Niveshak Didi’ initiative is based on the ideology of women for women as rural area women feel more comfortable to share their queries with a female itself..

Source : PIB