Latest Banking Dates General Knowledge(GK) Questions and answers

1 .

Which Bank has signed an MoU with Hatchlab Research Centre, TBI of SRM University-AP to launch 'IND Spring Board'?

A)

Canara Bank

B)

Bank of Baroda

C)

Indian Bank

D)

Union Bank of India

Correct Answer : Indian Bank

Indian Bank Inks MoU with SRM University-AP to Lend up to 50 Crores for Start-ups Andhra Pradesh, India (NewsVoir) Indian Bank has collaborated with Hatchlab Research Centre, TBI of SRM University-AP to launch 'IND Spring Board', an initiative for financing start-ups and MSMEs.

The bank will extend loans of up to Rs. 50 crore to start-ups incubated at SRM Hatchlab for their working capital requirements or purchase of machinery and equipment.

This collaboration is one of its kind in the state of Andhra Pradesh. Introducing the ventures at Hatchlab Research Centre, which will be availing of the Ind Spring Board scheme, Mr. Udayan Bakshi, Associate Director - Entrepreneurship, Department of Entrepreneurship and Innovation, highlighted the successful student ventures from SRM University-AP that has crossed 1Cr turnover.

SRM AP actively engage in business through the local community.

This collaboration will further strengthen the MSME sector, stated University Registrar Dr. R Premkumar, signing the MoU.

Speaking on the occasion, Sri N K Sharma GM - MSME Indian Bank expressed his delight in collaborating with SRM University-AP along with other premier institutes like IITs and IIMs across the country.

Sri C D Ramarao - Zonal Manager, Indian Bank, Guntur, described the genesis of the Ind Spring Board project and said Andhra Pradesh has a start-up-friendly ecosystem to nurture innovations.

Hatchlab Research Centre - the technology and livelihood business incubator of SRM University-AP facilitates the incubation of student startups. 10,000+ sq. ft., state-of-the-art incubator space and Seed Funding are provided to eligible student ventures.

40+ student startups, 200+ industry mentors, and $120,000 angel investment are peculiar to the conducive entrepreneurial environment of SRM University-AP.

Source : Business Standard

2 .

Which bank is the first bank to get listed its Payment Gateway platform on "TIN 2.0 platform" of the Income Tax Department?

A)

IndusInd Bank

B)

IDFC FIRST Bank

C)

South Indian Bank

D)

Federal Bank

Correct Answer : Federal Bank

Kerala-based "Federal Bank" has become country's first bank to list its Payment Gateway platform on the TIN 2.0 platform of the Income Tax Department.

This year, the TIN 2.0 platform went live on 1 July, and 'Payment Gateway' has been enabled. With this, TIN 2.0 platform taxpayers will get one more payment option and now make their payments with ease, using modes such as Credit/Debit Card, UPI, NEFT/RTGS and Internet Banking.

Federal Bank's Group President & Country Head – Wholesale Banking, Harsh Dugar opined that the bank is actively using digital as a key enabler of superior experience and transaction convenience..

Source : Mint

3 .

The Reserve Bank of India (RBI) on 3rd August 2022 imposed a monetary penalty of Rs 32 lakh on which Bank for non-compliance of norms related to classification of frauds?

A)

Indian Bank

B)

Allahabad Bank

C)

Canara Bank

D)

Punjab National Bank

Correct Answer : Indian Bank

The Reserve Bank of India (RBI) has, by an order dated August 03, 2022, imposed a monetary penalty of â‚¹32 Lakh (Rupees Thirty-two lakh only) on Indian Bank (the bank), for non-compliance with certain provisions of Reserve Bank of India (Fraud classification and reporting by commercial banks and select FIs) Directions 2016. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with sections 46 (4) (i) and 51(1) of the Banking Regulation Act, 1949.

This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers..

Source : RBI

4 .

Reserve Bank of India (RBI) has imposed a monetary penalty of â‚¹2.33 crore on which Financial Ltd in 5th Aug 2022?

A)

Bharat Financial Inclusion

B)

Shriram City Union Finance

C)

Spandana Sphoorty Finance

D)

Equitas Small Finance Bank

Correct Answer : Spandana Sphoorty Financial

The Reserve Bank of India (RBI) has, by an order dated August 05, 2022, imposed a monetary penalty of â‚¹2.33 crore (Rupees Two Crore Thirty-Three lakh only) on Spandana Sphoorty Financial Limited, Hyderabad (the company) for non-compliance with certain provisions of the 'Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016”.

This penalty has been imposed in exercise of powers vested in RBI under the provisions of clause (b) of sub-section (1) of section 58 G read with clause (aa) of sub-section (5) of section 58 B of the Reserve Bank of India Act, 1934.

This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the company with its customers.

Background : The statutory inspections of the company, a NBFC- MFI, conducted by RBI with reference to its financial position as on March 31, 2019 and March 31, 2020 and examination of the Risk Assessment Report, Inspection Reports, supervisory letters and all related correspondence pertaining to the same revealed, inter alia, the company’s failure to adhere to pricing of credit guidelines for Non-Banking Financial Company- Micro Finance Institutions.

In furtherance to the same, a notice was issued to the company advising it to show cause as to why penalty should not be imposed on it for failure to comply with the RBI directions, as stated therein.

After considering the company’s reply to the notice, examination of additional submissions made by it and oral submissions made during the personal hearing, RBI came to the conclusion that the charge of non-compliance with the aforesaid RBI directions was substantiated and warranted imposition of monetary penalty.

Source : RBI

5 .

Who has been appointed as New MD & CEO by Unity Small Finance Bank (USFB) on 5th Aug 2022?

A)

Rakesh Sharma

B)

Inderjit Camotra

C)

R Subramaniakumar

D)

Lingam Venkat Prabhakar

Correct Answer : Inderjit Camotra

Unity Small Finance Bank Limited (Unity Bank) on Friday(5th Aug 2022) announced the appointment of "Inderjit Camotra" as the managing director and chief executive officer. A senior banker with over 25 years of experience across India, Camotra held various leadership positons at Standard Chartered Bank, ANZ and Citibank.

Unity Small Finance Bank is a new age, digital first bank which was recently elevated to a ‘Scheduled Bank’ and was included in the Second Schedule of the RBI Act. The bank is promoted by Centrum Financial Services Ltd and Resilient Innovations Pvt Ltd as a joint investor. The bank commenced its operation in November 2021.

An IIT-Delhi graduate, Camotra pursued his MBA from Clarkson University in New York. Camotra was earlier an executive director with Centrum Financial Services Ltd, and has played a crucial role in the transitioning of the company into a bank.

"Starting a bank from scratch is an exciting and challenging task. I look forward to working closely with Unity’s highly experienced board, strong management team and employees to scale it to greater heights," said the MD..

Source : Business Standard

6 .

RBI digital payments index increased from 304.46 for September 2021 to _____ for March 2022.

A)

287.30

B)

349.30

C)

365.30

D)

391.30

Correct Answer : 349.30

The Reserve Bank had announced construction of a composite Reserve Bank of India – Digital Payments Index (RBI-DPI) with March 2018 as base to capture the extent of digitisation of payments across the country. The index for March 2022 stands at 349.30 as against 304.06 for September 2021, which was announced on January 19, 2022.

The RBI-DPI index has demonstrated significant growth representing the rapid adoption and deepening of digital payments across the country in recent years.

The index series since its inception is as under :

Period	RBI - DPI Index
March 2018 (Base)	100
March 2019	153.47
September 2019	173.49
March 2020	207.84
September 2020	217.74
March 2021	270.59
September 2021	304.06
March 2022	349.30

Source : RBI

7 .

Which has launched first ever, men-focused Committee 'EmpowerHim' as part of its flagship HR initiative 'Prerna'?

A)

Bank of Baroda

B)

Canara Bank

C)

Indian Bank

D)

Union Bank of India

Correct Answer : Union Bank of India

Union Bank of India has launched first ever, men-focused Committee 'EmpowerHim' as part of its flagship HR initiative 'Prerna'.

Aim : To promote the employees' career trajectory and improve diversity in the Bank by picking out and resolving individual as well as common existing challenges.

This Committee will complement the women focused; EmpowerHer Committee launched by the bank earlier in July 2022.

Source : Union Bank

8 .

Which Bank has entered into a strategic partnership with Rupyy for offering 100% paperless loan processing?

A)

IndusInd Bank

B)

RBL Bank

C)

Federal Bank

D)

IDFC FIRST Bank

Correct Answer : IndusInd Bank

IndusInd Bank on Monday(1st August 2022) announced a strategic partnership with Rupyy – a new age digital lending platform offering 100% paperless loan processing. Rupyy is the fintech arm of the Jaipur-based Girnarsoft Pvt. Ltd. which houses brands like CarDekho, BikeDekho, Zigwheels, Powerdrift, among others.

This partnership will enable users of ‘Rupyy’ to avail simplified documentation and instant processing of vehicle loans from IndusInd Bank. Customers of the bank can now opt for flexible repayment options while transacting on ‘Rupyy’.

“We are delighted to partner with Rupyy to provide the whole gamut of used-car loan offers…We believe this partnership will add an extra layer of convenience for customers in order to on-board a seamless auto loan journey," said A.G. Sriram, Head – Consumer Finance Division, IndusInd Bank..

Source : Mint

9 .

Which Bank approves $96.3 million loan to Himachal Pradesh for safe drinking water project?

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) has approved a USD 96.3 million (about Rs 770 crore) loan to fund safe drinking water and sanitation project in Himachal Pradesh.

The loan has been provided under the Himachal Pradesh Rural Drinking Water Improvement and Livelihood Project, ADB said in a release on Saturday(23rd July 2022).

It said more than 90 per cent of the state’s rural population have access to drinking water, but the water supply infrastructure is old and deteriorated, resulting in inefficient and poor service quality.

The ADB project will connect 75,800 households to the service, providing uninterrupted water supply to about 370,000 residents across 10 districts.

“The project meets the objectives of the Jal Jeevan Mission, a national flagship programme of Government of India, which aims to provide piped water to all rural households by 2024,” said Jude Kohlhase, ADB Unit Head of Project Administration on Urban Development and Water for South Asia..

Source : Financial Express

10 .

Which Bank has appointed Rama Subramaniam Gandhi as an additional independent director of the bank for a period of five years, effective from July 23, 2022?

A)

HDFC Bank

B)

Axis Bank

C)

YES Bank

D)

ICICI Bank

Correct Answer : YES Bank

Private sector lender YES Bank on Saturday(23rd July 2022) announced the appointment of Rama Subramaniam Gandhi as an additional independent director of the bank for a period of five years.

“We are pleased to inform that the Board of Directors of the Bank at their meeting held July 23, 2022 has approved the appointment of Rama Subramaniam Gandhi as an Additional Independent Director of the Bank for a period of five years effective from July 23, 2022, subject to the approval of shareholders,” YES Bank said in a regulatory filing to the stock exchanges.

“Further, please note that R Gandhi is not related to any other Directors or Key Managerial Personnel of the Bank and he is not debarred from holding the office of a director, by virtue of any SEBI order or any other such authority/regulator,” it said.

Gandhi is currently a financial sector policy expert and adviser. Currently, he advises banks, finance companies, fintech entities, payment system entities, investors and funds on subjects ranging from financial regulations and Indian economy..

Source : The Print