Latest Banking Dates General Knowledge(GK) Questions and answers

1 .

Which bank marked its 104th foundation day on 11 November 2022?

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

2 .

Which Bank commits to finance 1000 entrepreneurs in Nagaland through a partnership with Business Association?

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

3 .

Which Bank has signed a $40 million financing package with GreenCell Express Private Limited (GEPL) to develop 255 electric battery-powered buses (e-buses)?

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

4 .

Which Bank has launched Shagun 366 (1 year, 1 day) fixed deposit scheme?

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

5 .

Which bank reported 74 per cent year-on-year increase in net profit at â‚¹13,265 crore for quarter ended September 2022?

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 â‚¹13,265 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 â‚¹88,734 crore during the quarter under review from â‚¹77,689.09 crore a year earlier. Net interest income rose 13% to â‚¹35,183 crore.

* Of the total income, more than one-fourth, or â‚¹24,400 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 â‚¹3.85 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 â‚¹2,011 crore from â‚¹2,699 crore, the Chairman said.

* In absolute terms, gross NPAs declined by 13.8% to â‚¹1,06,804 crore and net NPAs by 36.5% to â‚¹23,572 crore.

* While the bank earned an interest income of â‚¹79,860 crore, up 15%, interest expenses rose 16.6% to â‚¹44,676 crore. Of the total income, the key net interest income rose 12.8% to â‚¹35,183 crore as its NIM (Net Interest Margin) improved by 5 bps to 3.55%..

Source : The Hindu

6 .

Which Bank has approved the funding to the farm efficiency initiative of Smartchem Technologies Limited (STL) of USD 30 million?

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

7 .

Which bank has conducted First Floating Financial Literacy Camp of India in Srinagar, J&K?

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

8 .

Which bank has launched a special fixed deposit scheme named Star Super Triple Seven Fixed Deposit?

A)

Canara Bank

B)

Bank of India

C)

Union Bank of India

D)

State Bank of India

Correct Answer : Option (B) - Bank of India

Bank of India on Tuesday(1st Nov 2022) announced a special fixed deposit scheme -- Star Super Triple Seven Fixed Deposit – wherein they are offering 7.25 per cent rate of interest (7.75 per cent for citizens) on a deposit for 777 days.

This is a limited period offer by the bank, it said in a statement on Tuesday(1st Nov 2022). “When compared to other investment options such as public provident fund, senior citizen savings scheme, national savings certificate, or RBI Bond, Bank of India’s 777-day FD scheme is the most lucrative and a smart investment option,” the bank said.

Apart from the special deposit scheme, Bank of India has raised interest rate on its existing 555-days fixed deposit scheme to 6.30 per cent. And, on other maturities from 180 days to less than 5 years, it has raised interest rates by 25 basis points..

Source : Business Standard

9 .

When was India's first digital rupee pilot project launched by RBI for the wholesale segment?

A)

October 29, 2022

B)

October 30, 2022

C)

October 31, 2022

D)

November 1, 2022

Correct Answer : Option (D) - November 1, 2022

First Digital Rupee pilot project of India has been launched on November 1, 2022, by RBI for the wholesale segment.

Participated Banks : SBI, BoB, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank and HSBC

CBDC can be classified into two types : Retail (CBDC-R) and Wholesale (CBDC-W)

* CBDC-R : It would be potentially available for use by all.

* CBDC-W : It is designed for restricted access to select financial institutions.

Source : Economic Times

10 .

Which Bank and LIC have renewed their agreement through an MOU for bancassurance tie-up?

A)

RBL Bank

B)

Union Bank of India

C)

Andhra Pragathi Grameena Bank (APGB)

D)

Karnataka Vikas Grameena Bank (KVGB)

Correct Answer : Option (D) - Karnataka Vikas Grameena Bank (KVGB)

Karnataka Vikas Grameena Bank (KVGB), a Dharwad-headquartered regional rural bank and Life Insurance Corporation (LIC) of India have renewed their agreement through a memorandum of understanding for bancassurance (for selling life Insurance products through the branches of KVGB) tie-up.

The bank will market LIC’s products through its 639 branches in Dharwad, Gadag, Haveri, Belagavi, Bagalkot, Vijayapura, Uttara Kannada, Udupi and Dakshina Kannada districts.

Quoting P Gopi Krishna, Chairman of KVGB, a statement said the bank is renewing the pact with LIC mainly to increase insurance penetration in rural areas and to provide better deal to customers on service and premium.

Stating that the bank is playing a major role in extending the affordable banking facilities in urban and rural areas through various products and services, he said the bank’s business has crossed â‚¹30,800 crore by catering to the needs of around 80 lakh customers in nine districts of Karnataka.

K Venkataramana, Senior Divisional Manager of LIC, Dharwad, said the insurane behemoth is offering innovative products with affordable premium and also ensures speedy settlement of claims..

Source : The Hindu Businessline