Latest Banking Dates General Knowledge(GK) Questions and answers

1 .

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

2 .

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

3 .

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

4 .

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

5 .

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

A)

₹ 3.4 Lakh-Crore

B)

₹ 4 Lakh-Crore

C)

₹ 4.5 Lakh-Crore

D)

₹ 5 Lakh-Crore

Correct Answer : ₹ 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 ₹ 5 lakh-crore mark.

* The largest lender in the country took a year to book the last ₹ 1 lakh crore of advances, as against over 15 months for the previous ₹ 1 lakh crore and over 30 months for the previous ₹ 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 ₹ 5 lakh-crore mark under personal banking advances," the bank's chairman Dinesh Kumar Khara said.

* Dinesh Kumar Khara stressed that the ₹ 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

6 .

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

7 .

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

8 .

Who announced (1 December 2022) a four-tiered regulatory framework for categorisation of Urban Co-operative Banks (UCBs)?

A)

World Bank

B)

Asian Development Bank (ADB)

C)

Reserve Bank of India (RBI)

D)

International Monetary Fund (IMF)

Correct Answer : Reserve Bank of India (RBI)

The Reserve Bank of India (RBI) on 1 December 2022 announced a four-tiered regulatory framework for categorisation of Urban Co-operative Banks (UCBs).

* Apart from this, RBI has come out with norms pertaining to the net worth and capital adequacy of these banks.

* Based on size of deposits of the UCBs, the four-tiered regulatory framework will come into force with immediate effect. As per details, the extant regulatory framework classifies UCBs into two tiers – Tier I and Tier II.

* The RBI, in its circular, said given the heterogeneity in the cooperative sector, a tiered regulatory framework is required, adding such framework is needed to balance the spirit of mutuality and co-operation more prevalent in banks of smaller sizes and those with limited area of operation vis-a-vis the growth ambitions of the large-sized UCBs and undertake more complex business activities.

* The RBI has categorised all unit UCBs and salary earners' UCBs (irrespective of deposit size), and all other UCBs having deposits up to ₹100 crore in Tier 1.

* In Tier 2, it has placed UCBs with deposits more than ₹100 crore and up to ₹1,000 crore.

* Tier 3 will cover banks with deposits more than ₹1,000 crore and up to ₹10,000 crore.

* UCBs with deposits more than ₹10,000 crore have been categorised in Tier 4.

Source : Mint

9 .

Who has been appointed as the new Executive Director of Punjab National Bank on 1st Dec 2022?

A)

S.M. Jha

B)

M Paramasivam

C)

S. Balachandran

D)

B.K. Mishra

Correct Answer : M Paramasivam

The Appointments Committee of the Cabinet (ACC) has approved the appointment of M Paramasivam as the Executive Director of the Government-owned Punjab National Bank with an effect from December 1, 2022, for a period of three years.

M Paramasivam is an agriculture graduate. He started his career as an Agricultural Extension Officer at Canara Bank in 1990 and served the bank for 32 years in various capacities.

Source : Business Standard

10 .

Which Bank has tied up with Protean eGov Technologies to expand PAN card issuance services in India?

A)

Yes Bank

B)

India Post Payments Bank

C)

Airtel Payments Bank

D)

Fino Payments Bank

Correct Answer : Fino Payments Bank

FINO PAYMENTS BANK has tied up with citizen-centric and population-scale e-governance solutions Protean eGov Technologies (formerly NSDL e-Governance Infrastructure Limited), to expand permanent account number (PAN) card issuance services in India, especially in rural areas.

* The tie-up will allow Protean to expand its reach in the interiors of the country through Fino Bank’s phygital (a combination of physical and digital services) network of over 12.2 lakh merchant points.

* The company claimed that people can apply for PAN cards through Aadhaar-based authentication, without the need to submit or upload any documents at Fino Bank points.

* Applicants will have the option to choose a PAN card either in digital or physical form. The digital version or e-PAN, introduced recently, will be sent within a few hours of applying to the applicant’s email id. It is permissible as an actual PAN card.

* Those opting for physicals will receive their PAN cards at their Aadhaar-mentioned address within 4-5 working days, the company stated.

* Rishi Gupta, managing director (MD) and chief executive officer (CEO) of Fino Payments Bank, said, “Our extensive pan India distribution network is best placed to provide efficient near-doorstep delivery of G2C services..

Source : Outlookindia

Banking - General Knowledge Questions