Latest Banking Dates General Knowledge(GK) Questions and answers

1 .

Which Bank has signed an MoU with Food Corporation of India (FCI) to provide "Ultima Salary Package" with exclusive benefits & features to all its employees?

A)

HDFC Bank

B)

YES Bank

C)

Axis Bank

D)

ICICI Bank

Correct Answer : Axis Bank

Axis Bank, India’s third largest private sector bank, has signed an MoU with Food Corporation of India (FCI) to provide “Ultima Salary Package”, a best-in-class salary account with exclusive benefits & features to all its employees. With this MoU, the Bank has reinstated its commitment to offering holistic banking services to the employees of the Public Sector Undertakings (PSU) sector.

A signing ceremony was held at FCI Headquarters, New Delhi where FCI was represented by Shri G. N Raju, GM HQ and Axis Bank was represented by Shri Anil Agarwal, President, Financial Institutions Group & Lt Col M.K Sharma, National Accounts Head.

Through this exclusive Ultima Salary package, the Bank will offer numerous benefits such as :

* Personal Accidental cover of up to Rs.20 lakhs

* Additional Education Grantupto Rs. 8 lakhs

* Total Permanent Disability Cover benefit up to Rs. 20 lakhs

* Permanent Partial disability cover of up to Rs.20 lakhs

* Air Accident cover of Rs. 1 Crore

* Free additional debit card for a family member

* 12 EMI waiver on Home loan

* 3 zero balance accounts for family member

Universal account number wherein all Axis Bank branches will function as a “Home branch”

This MoU is a reflection of Axis Bank’s constant endeavour to address the banking requirements of different customer segments, helping them meet their financial aspirations & milestones..

Source : Pragativadi

2 .

State Bank of India has launched its first dedicated branch for Startups in which city?

A)

Mumbai

B)

Bengaluru

C)

Delhi

D)

Hyderabad

Correct Answer : Bengaluru

State Bank of India (SBI) has launched its first branch dedicated to start-ups in Koramangala, Bengaluru, the country’s largest lender said on Tuesday(16th August 2022).

Apart from providing funding and regular banking service to start-ups, SBI will also support such players through associated services such as investment banking, treasury operations, advisory and other ancillary financial services through its subsidiaries.

The branch will provide services ranging from the stage of formation of start-ups to Initial Public Offerings and Follow-on Public Offerings, SBI said..

Source : Business Standard

3 .

Which term deposit scheme has been launched by Karnataka Bank in August 2022?

A)

KBL Amrit Samriddhi

B)

Krishik Sinchana Scheme

C)

KBL Instant Agri Credit

D)

KBL Agro Processing Scheme

Correct Answer : KBL Amrit Samriddhi

In commensurating with the Nation celebrating its 75 years of Independence as Azadi Ka Amrit Mahotsav, Karnataka Bank has introduced a new Term Deposit Scheme, "KBL Amrit Samriddhi" under ACC and Fixed Deposit for a tenure of 75 weeks (525 days). The interest rate for this Deposit Scheme is 6.10% per annum.

While wishing on the occasion, Shri Mahabaleshwara M S, MD & CEO of the Bank said, “India is celebrating the glorious history of its people, culture and achievements in a jubilant way.

Karnataka Bank, portraying the rich patriotic tradition and values, has always been ready to meet the aspirations and dreams of its valued patrons. With the new product, KBL Amrit Samriddhi, Bank extends the benefit of increase in the interest rates to our customers. I request each one of you to make use of this opportunity, which will be available for a limited time.”.

Source : Karnataka Bank

4 .

Which Bank partners with "SellerApp" to facilitate adoption of ONDC?

A)

Axis Bank

B)

Yes Bank

C)

ICICI Bank

D)

HDFC Bank

Correct Answer : Yes Bank

* Yes Bank has announced Saturday(13th August 2022) its partnership with SellerApp (a seller-centric intelligence platform) to adopt Open Network Digital Commerce (ONDC).

* This partnership will help them to expand their digital commerce footprint.

* ONDC is a strategic initiative of the Indian government with an aim to democratize the entire digital commerce space.

* The network is also being built as an alternative to e-tailers like Walmart-owned Flipkart and Amazon in the Indian ecommerce market..

Source : Economic Times

5 .

Kotak Mahindra Bank has launched a lifestyle-focused salary account named on?

A)

Kotak Pay

B)

Kotak Sweet

C)

Kotak Salary

D)

Kotak Creme

Correct Answer : Kotak Creme

Kotak Mahindra Bank Limited on Wednesday(10th Aug 2022) announced the launch of Kotak Crème, a lifestyle-focused corporate salary account, offering an upgraded banking experience to new-age professionals working with eminent corporates.

With Kotak Bank’s flagship premium banking programme, Privy League at the core of its design, Kotak Crème account will come with a host of privileges and rewards across lifestyle, travel, healthcare, dining, skilling and learning experiences.

The account will offer premium rewards and banking experiences to each employee of the partner corporate that includes MNCs, consulting firms, law firms, non retail FIs and unicorn companies.

Kotak Crème is being launched in Bengaluru owing to the city’s diverse hotbed of talent and corporates. Each salary account comes with preferential banking services, including a complimentary Zen Credit Card. The account holder can avail of complimentary airport lounge access and also gift Privy League privileges to their family members. Kotak Crème also offers subscription to top lifestyle brands offering Health & Wellness, Lifestyle, Entertainment, Knowledge/Learning & Fitness experiences..

Source : Mint

6 .

Which Bank launches "Utsav fixed deposit scheme"?

A)

Indian Bank

B)

Canara Bank

C)

State Bank of India

D)

Union Bank of India

Correct Answer : State Bank of India

The State Bank of India (SBI) has introduced a unique term deposit programme called "Utsav Deposit."

This fixed deposit scheme has higher interest rates and is only available for a limited time.

Under the Utsav Fixed Deposit Scheme, SBI is offering an interest rate of 6.10% per annum on fixed deposits with a tenure of 1000 days.

And senior citizens will be eligible to get an additional interest rate of 0.50% over and above the regular rate..

Source : Mint

7 .

Who has approved the merger proposal of HDFC Bank and its parent HDFC Ltd?

A)

Ministry of Corporate Affairs

B)

Reserve Bank of India(RBI)

C)

Securities and Exchange Board of India(SEBI)

D)

Competition Commission of India (CCI)

Correct Answer : Competition Commission of India (CCI)

Fair trade regulator Competition Commission of India (CCI) has approved the merger proposal of HDFC Bank and its parent HDFC Ltd.

The proposed combination envisages the merger of HDFC Investments and HDFC Holdings with HDFC Ltd in the first step and subsequently, the merger of HDFC Ltd into HDFC Bank.

In a tweet on Friday(12th August 2022), CCI said it has approved the "proposed combination involving amalgamation of HDFC Limited, HDFC Bank, HDFC Investments and HDFC Holdings."

In April, the country's largest housing finance company HDFC Ltd announced that it will merge with HDFC Bank..

Source : Business Standard

8 .

Which Bank inks an agreement with Trade receivables Discounting System (TReDs) platform M1xchange?

A)

HDFC Bank

B)

Axis Bank

C)

ICICI Bank

D)

YES Bank

Correct Answer : HDFC Bank

Trade receivables discounting platform M1xchange has tied up with HDFC Bank with an aim to provide more liquidity to small businesses at competitive interest rates.

"HDFC Bank has partnered with M1xchange promoted by Mynd Solutions Pvt Ltd to make a debut in the Trade receivables Discounting System (TReDs) platform. This move is expected to bring in high liquidity to buyer corporates and MSMEs at competitive interest rates," said a release on Tuesday(11th Aug 2022).

TReDS system, regulated by RBI, enables Micro, Small & Medium Enterprises (MSMEs) to auction their trade receivables online and borrow funds from the financial institution which offers loan at the lowest rate of interest.

"The collaboration between HDFC Bank and M1xchange is another significant step forward in the provision of financing to MSME and micro category businesses," Sundeep Mohindru, MD & CEO, M1xchnage, said.

HDFC Bank will benefit from partnering with M1xchange with shorter turn-around time and lower administrative costs in booking additional new-to-bank (NTB) corporate buyer relationships, he said.

Source : Economic Times

9 .

Which bank has joined hands with IBSFINtech (TreasuryTech Solution provider) to explore digital services for corporate clients?

A)

Axis Bank

B)

YES Bank

C)

HDFC Bank

D)

ICICI Bank

Correct Answer : YES Bank

YES Bank has joined hands with IBSFINtech (TreasuryTech Solution provider) to explore digital services for corporate clients.

This partnership will strengthen the corporate treasury ecosystem with a strong decision-making tool and automated workflows.

It will provide connectivity between a corporate’s ERP (Enterprise resource planning) and a bank’s solutions.

YES Bank MD & CEO : Prashant Kumar; Headquarters: Mumbai

Source : Thehindubusinessline

10 .

Which Bank and LetsVenture have partnered to support the startup ecosystem by providing curated products and solutions to startups (founders and investors)?

A)

HDFC Bank

B)

IDFC FIRST Bank

C)

IndusInd Bank

D)

Kotak Mahindra Bank

Correct Answer : IDFC FIRST Bank

IDFC FIRST Bank and LetsVenture have partnered to support the startup ecosystem by providing curated products and solutions to startups (founders and investors).

* IDFC FIRST Bank provides customised solutions to start-ups under its FIRST WINGS programme.

* With this, it makes IDFC FIRST Bank a preferred banker to all startups on LetsVenture's Scalix.

* LetsVenture's Scalix is a newly launched platform that supports the startUp ecosystem.

Source : Business Standard