Latest Banking Dates General Knowledge(GK) Questions and answers

1 .

Which bank has appointed C S Rajan as an additional and independent director on the bank's board?

A)

State Bank of India

B)

Kotak Mahindra Bank

C)

Union Bank of India

D)

IDFC FIRST Bank

Correct Answer : Kotak Mahindra Bank

Kotak Mahindra Bank Limited has appointed C S Rajan as an additional and independent director on the bank’s board.

Rajan’s appointment is for a period of five years effective 22 October 2022.

Rajan has over 40 years of experience across significant government portfolios.

Rajan is currently serving as a non-executive chairman of Infrastructure Leasing and Financial Services Limited, appointed by the government of India..

Source : Mint

2 .

Which Bank's board of directors has reappointed 'Sandeep Bakshi' as the MD and CEO for a period of 3 years.

A)

ICICI Bank

B)

Axis Bank

C)

HDFC Bank

D)

Kotak Mahindra Bank

Correct Answer : ICICI Bank

ICICI Bank's board of directors has reappointed Sandeep Bakshi as the managing director (MD) and chief executive officer (CEO) for a period of three years, said in a regulatory filing.

The tenure Sandeep Bakshi was till October 3, 2023. The reappointment period is from October 4, 2023 to October 3, 2026, which is subject to approval from Reserve Bank of India, and the shareholders of ICICI Bank.

“The Board unanimously approved the re-appointment of Mr. Sandeep Bakhshi for a period of three years with effect from October 4, 2023 to October 3, 2026, subject to approval of the RBI and shareholders of the Bank," said the regulatory filing.

He was appointed as the banks's MD and CEO since October 15, 2018. He has served as Wholetime Director and the Chief Operating Officer (COO) of the bank, prior to his appointment as MD and CEO.

Bakhshi has been with the ICICI Group for 36 years and has handled various assignments across the group in ICICI Limited, ICICI Lombard General Insurance, ICICI Bank and ICICI Prudential Life Insurance.

ICICI Bank on Saturday posted a net profit of ₹7,558 crore for the quarter ended September, rising by 37per cent from ₹5,511 crore in the same quarter last year.

Net interest income (NII) jumped by 26 per cent yoy to ₹14,787 crore in Q2FY23 as against ₹11,690 crore in Q2 of FY22. Net interest margin stood at 4.31 per cent in Q2FY23.

The business banking portfolio grew by 43 per cent year-on-year and 11% sequentially as of September 30, 2022..

Source : Mint

3 .

Which bank has bagged the National Digital Transformation Awards, "DX 2022 Awards" instituted by the Confederation of Indian Industry (CII)?

A)

Canara Bank

B)

South Indian Bank

C)

Bandhan Bank

D)

Karnataka Bank

Correct Answer : Karnataka Bank

Karnataka Bank has bagged National Digital Transformation Awards — DX 2022 Awards — instituted by the Confederation of Indian Industry for best practice in digital transformation under BFSI segment.

The awards in recognition of the “Innovative Excellence” in ‘KBL HR NxT - Employee Engagement’, ‘KBL Operations NxT - Operational Excellence’ and ‘KBL Customer NxT - Customer Experience’ were presented to senior executives of the bank at New Delhi on Tuesday(18th Oct 2022).

Bank Managing Director and CEO M.S. Mahabaleshwara said KBL Vikas introduced in 2017 has laid a strong foundation for the digital transformation of the Bank. KBL NxT concept was launched in 2021 under KBL Vikas 2.0 focusing digitisation of its various verticals, including operations, human resources, customer experience, digital marketing etc.

Source : The Hindu

4 .

Who has been appointed as the interim Chief Executive Officer (CEO) by Paytm Payments Bank?

A)

Rakesh Sharma

B)

Sashidhar Jagdishan

C)

Deependra Singh Rathore

D)

Chandra Shekhar Ghosh

Correct Answer : Deependra Singh Rathore

Paytm Payments Bank has appointed Deependra Singh Rathore as the interim chief executive officer (CEO), in addition to his role as chief product & technology officer.

He will replace Satish Gupta, who is presently serving as the bank's CEO and retire in October 2022.

The bank will announce the new full-time CEO after receiving regulatory approvals.

The bank has also appointed Sunil Chander Sharma, a former IRS officer as chief operating officer (COO)..

Source : Economic Times

5 .

Which Bank has been relaunched Suraksha Fixed Deposit (FD) as a festive treat for customers?

A)

Axis Bank

B)

DCB Bank

C)

Bandhan Bank

D)

IDBI Bank

Correct Answer : DCB Bank

The Suraksha Fixed Deposit (FD) from DCB Bank, a private sector lender, has been relaunched. This FD offers higher interest rates and free insurance as well as other benefits.

This festive season, DCB Bank reintroduced this special type of FD that has a tenure of 3 years and offers an excellent mix of savings and safety for depositors as well as their dependents or loved ones.

Another attractive option is a regular Fixed Deposit without Suraksha insurance. For fixed deposits of 700 days or three years, the bank provides an attractive 7.10% annual interest rate, which yields 7.49% pa or 7.84% p.a, respectively.

Elderly individuals earn 7.60% annually over the same time period, and the yields are 8.05% and 8.45% annually, respectively. For a fixed deposit with a longer period of five years, the annualised return is 7% per year, for which the annualised yield is 8.43% p.a. Elderly individuals earn 7.50% annually, which represents an annualised yield of 9.14%.

DCB Bank Suraksha Fixed Deposit (FD) : Two distinguishing characteristics of DCB Suraksha make it a wise and "surakshit" investment. In addition, it gives free life insurance coverage up to Rs. 10 lakh if the value of the Suraksha FD is more than Rs. 10 lakh. Furthermore, it offers a high interest rate of 7.10% p.a. on a three-year deposit. The insurance premium is not payable by the DCB Suraksha FD customer. Additionally, there is no need for a medical evaluation in order to benefit from life insurance coverage..

Source : Mint

6 .

Bookmyshow has partnered with which bank to launch a new credit card named 'Play'?

A)

RBL Bank

B)

Axis Bank

C)

ICICI Bank

D)

HDFC Bank

Correct Answer : RBL Bank

RBL Bank and BookMyShow on Wednesday(12th Oct 2022) announced a partnership to launch a new 'Play' credit card.

This card will be available to select customers on BookMyShow and give them access to offers on transactions across movies and live entertainment offerings (online and offline), the companies said in a joint statement.

Additionally, eligible customers will be able to avail offers on binge-watching movies and TV series on BookMyShow Stream by renting or buying a title, while enjoying benefits with every purchase made, the companies said.

While BookMyShow customers can purchase the ‘Play’ credit card for an annual fee of Rs 500, the superlative offering will be available to entertainment loyalists on the platform, BookMyShow Superstars at zero cost.

On top of that, consumers will be able to track the entire journey from application to delivery of the ‘Play’ credit card on BookMyShow, with real-time updates enabled within the platform, the companies said..

Source : CNBC

7 .

How many million loan extended by World Bank for salt project in Andhra Pradesh?

A)

$200 million

B)

$250 million

C)

$300 million

D)

$400 million

Correct Answer : $250 million

B. Rajasekhar has said that the World Bank (WB) has extended an unconditional loan of $250 million to the Supporting Andhra’s Learning Transformation (SALT) project in appreciation of the path-breaking reforms implemented by the State government.

The SALT is the first project in the school education sector to be funded by the World Bank without any precondition.

Mr. Rajasekhar dismissed the media reports that the World Bank had imposed certain curbs to extend the financial assistance, as baseless.

He said a sum of approximately ₹53,000 crore had been spent on school education in the last three years and a major chunk of it (₹22,617 crore) had gone to Amma Vodi and the first phase of the Nadu-Nedu scheme.

The number of children studying in government schools in 2022-23 academic year was 40,31,239. The total number of children in government, private and aided schools was less by 86,119 when compared to last year. .

Source : The Hindu

8 .

Which City based Seva Vikas Co-operative Bank licence revoked by Reserve Bank of India (RBI)?

A)

Chennai

B)

Hyderabad

C)

Kolkata

D)

Pune

Correct Answer : Pune

Reserve Bank of India (RBI) on Monday(10th Oct 2022) cancelled the license of Pune based Seva Vikas Co-operative Bank as the urban cooperative bank lacked adequate capital and earning prospects.

The bank ceases to carry on banking business, with effect from the close of business on October 10, 2022, RBI said in a statement.

Earlier in August 2022 , it had cancelled the license of Pune-based Rupee Cooperative Bank. RBI action is facing legal challenge in Bombay High Court.

According to the the data submitted by the bank, about 99 per cent of the depositors are entitled to receive the full amount of their deposits from Deposit Insurance and Credit Guarantee Corporation (DICGC). As on September 14, 2022, DICGC has already paid Rs 152.36 crore of the total insured deposits.

This payment is made in compliance with the provisions of the DICGC Act, 1961 based on the willingness received from the concerned depositors of the bank..

Source : Business Standard

9 .

Which Bank has bagged a world record for staging and swinging the highest 101 Oonjals (Jhoolas), beautifully decorated- in Kochi?

A)

Canara Bank

B)

Union Bank of India

C)

South Indian Bank

D)

State Bank of India

Correct Answer : South Indian Bank

South Indian Bank bagged a world record for staging and swinging the highest 101 Oonjals or Jhoolas- beautifully decorated- in Kochi.

The South Indian Bank on Sunday(9th Oct 2022) organized an event ‘Onnichirikkam Oonjaladam’ and was accoladed with the World Book of Records award for ‘staging and swinging 101 Oonjals’.

The event ‘Onnichirikkam Oonjaladam’ saw people gathered in large numbers to celebrate unity and prosperity during the ongoing festival season. Swings were made using wood and rope in the traditional way.

The World Book of Records team presented the Award to South Indian Bank officials.

Murali Ramakrishnan- MD and CEO of the South Indian Bank said, “Because of the present generation of technology, etc, I think people forget the authentic happiness which you are all getting when we all playing swing in our younger days..

Source : The Print

10 .

What percentage stake in IDBI Bank will be divested by Govt and LIC in collaboration?

A)

54.38%

B)

57.70%

C)

60.72%

D)

63.24%

Correct Answer : 60.72%

The government on Friday(7th Oct 2022) invited bids for privatising IDBI Bank and said that it together with LIC will sell a total of 60.72 per cent stake in the financial institution.

The Department of Investment and Public Asset Management (DIPAM), while inviting Expressions of Interest (EoI), said that the potential investor should have a minimum net worth of ₹22,500 crore, must report net profit in three out of the past five years to be eligible for bidding for IDBI Bank.

LIC to divest 60.72% share in IDBI Bank :

* A consortium could only have a total of four members.

* The winning bidder would be obligated to lock-in at least 40% of the equity capital for a period of five years starting from the date of acquisition.

* Additionally, it stated that the Reserve Bank will choose the qualified interested parties and the equity position these firms would hold in IDBI Bank, and that the bidder would need to pass the banking regulator’s “Fit and Proper” evaluation.

* Additionally, it prohibited individuals or big corporations from taking part in the bidding process.

* Potential purchasers have until December 16 to submit offers or Expressions of Interest (EoI).

Ownership of IDBI Bank :

* Together, the government and LIC own 94.72 percent of IDBI Bank. The government owns 488.99 billion shares, or 45.48 percent of IDBI Bank, while Life Insurance Corporation (LIC) has 529.41 billion shares, or 49.24 percent of the bank. In the bank, public shareholders own 5.2 percent of the stock.

* The Department of Investment and Public Asset Management (DIPAM) announced the sale of the government’s holding and LIC’s investment, totaling 60.72 percent of the equity share capital of IDBI Bank, along with the transfer of management control of the bank.

vThe total shareholding of LIC and the government will drop to 34% after the stake sale.

IDBI Bank Shareholding Pattern :

* 5.2% of IDBI Bank’s shareholders are small business owners.

* Additionally, when filing the EoI, the interested parties and each consortium member must make a statement or disclosure on any orders, pending investigations, or proceedings by any court, regulatory authority, SFIO, NCLT, or NCLAT.

* The winning bidder will be obliged to align its shareholding with the RBI criteria by reducing or diluting its stake in accordance with the glide-path that will be given by the QIPs at the RFP stage..

Source : Mint

Banking - General Knowledge Questions