Latest Banking Dates General Knowledge(GK) Questions and answers

1 .

Which Bank has launched a "Smart Wire" to help customers with SWIFT-based inward remittances in a faster and hassle-free manner?

A)

ICICI Bank

B)

HDFC Bank

C)

Axis Bank

D)

Kotak Mahindra Bank

Correct Answer : ICICI Bank

ICICI Bank has launched a "Smart Wire" to help customers with SWIFT-based inward remittances in a faster and hassle-free manner.

ICICI Bank becomes the first bank in the country to launch such a service.

The Smart Wire facility will allow both NRIs and resident customers to undertake inward remittance transactions in an online and paperless way.

Important features includes : Online submission of details; Digital declarations; Block exchange rates; Online tracking..

Source : Business Today

2 .

Who has appointed as CEO of Bank of India Mutual Fund with effect from 4 October, 2022?

A)

TS Ramakrishnan

B)

Mohit Bhatia

C)

Ganesh Mohan

D)

Chandresh Nigam

Correct Answer : Mohit Bhatia

Bank of India Investment Managers Private Ltd has appointed Mohit Bhatia as its Chief Executive Officer(CEO) with effect from 4 October, 2022.

Mohit Bhatia has over 26 years of professional experience in mutual funds and financial services industry.

He served as head-sales and marketing in Canara Robeco Asset Management Company Ltd.

Bank of India Investment Managers Private Limited is a wholly owned subsidiary of Bank of India..

Source : Mint

3 .

Which Bank has launched an one-stop merchant solution app named SmartHub Vyapar Merchant app?

A)

SBI

B)

Canara Bank

C)

ICICI Bank

D)

HDFC Bank

Correct Answer : HDFC Bank

HDFC Bank, India’s largest private sector bank with dominant market leadership in merchant acquiring business, 6th Oct 2022 announced the launch of SmartHub Vyapar Merchant app, a comprehensive payments and banking solution designed to fulfill the everyday business needs of merchants.

SmartHub Vyapar facilitates instant, digital, and paperless merchant onboarding for HDFC Bank customers and allows merchants to accept interoperable payments across multiple payment modes which include Cards – Tap & Pay, UPI, and QR code.

Merchants can also accept remote payments by sending a payment link over mobile or email to facilitate non-face-to-face collections.

SmartHub Vyapar App has been developed by HDFC Bank in partnership with Mintoak Innovations India Pvt. Ltd which is a merchant SaaS platform with a modular product offering to help banks connect with their merchants.

The merchant app was showcased at an event in Mumbai by Parag Rao, Group Head, Payments Business, Digital & IT, Arvind Vohra, Group Head, Branch Banking, Mr. Anjani Rathor, Chief Digital Officer, HDFC Bank and Ramesh Lakshminarayanan, Chief Information Officer, HDFC Bank.

“HDFC Bank is committed to support the growth of all merchants from large format chains to local kirana stores,” said Parag Rao, Country Head – Payments, Consumer Finance, Technology & Digital Marketing. “The MSME sector generates the most employment in the country and by empowering this sector we can help empower a large segment of society..

Source : Bfsi

4 .

A new advanced supervisory monitory system- Daksh has been launched by?

A)

Reserve Bank of India

B)

State Bank of India

C)

Union Bank of India

D)

Central Bank of India

Correct Answer : Reserve Bank of India

The Reserve Bank Governor Shaktikanta Das on Thursday(6th Oct 2022) launched a new 'SupTech' initiative DAKSH - the bank's Advanced Supervisory Monitoring System, which is expected to make the supervisory processes more robust.

The Reserve Bank of India (RBI) said it has been taking various initiatives in strengthening supervision, which among other initiatives include adoption of latest data and analytical tools as well as leveraging technology for implementing more efficient and automated work processes.

"DAKSH is a web-based end-to-end workflow application through which RBI shall monitor compliance requirements in a more focused manner with the objective of further improving the compliance culture in Supervised Entities (SEs) like Banks, NBFCs, etc,.".

Source : Business Standard

5 .

Who has sanctioned Rs 221.99 crore under the Rural Infrastructure Development Fund (RIDF) to Punjab government?

A)

SEBI

B)

DICGC

C)

NABARD

D)

ECGC

Correct Answer : NABARD

NABARD has sanctioned Rs 221.99 crore to strengthen school infrastructure in rural schools in Punjab. National Bank For Agriculture And Rural Development(NABARD) has sanctioned the money from the Rural Infrastructure Development Fund (RIDF) for the construction of 2,328 additional classrooms, 762 labs, and 648 playgrounds in rural schools in all 23 districts of Punjab, a NABARD statement said here on Monday(3rd Oct 2022).

In addition to this, 404 integrated science labs, 62 physics labs, 44 chemistry labs, 54 biology labs, 103 computer labs, and 55 National Skills Qualification Framework labs have also been sanctioned.

The projects aim to benefit a total of 3.80 lakh students, including likely new enrolment of 3.5 lakh students, in more than 3,500 villages, it said.

Presently, there are 632 projects underway which are being built with Rs 686 crore granted under the RIDF by the Department of School Education, Punjab government, it said..

Source : NDTV

6 .

Which Bank launches 'Gram Seva Program' across six states of India?

A)

Canara Bank

B)

State Bank of India

C)

Union Bank of India

D)

Central Bank of India

Correct Answer : State Bank of India

On the occasion of Gandhi Jayanti, the State Bank of India announced that it will adopt 30 remote villages across India under the 4th phase of the ‘SBI Gram Seva’ program on Sunday(2nd Sep 2022).

Under the flagship scheme of the SBI Foundation, the bank will adopt remote villages across Aspirational Districts in Haryana, Gujarat, Maharashtra, Punjab, Tamil Nadu, and West Bengal.

Launched under the Corporate Social Responsibility of the bank, the program emphasises a comprehensive development of villages by active intervention in areas like education, healthcare, livelihoods, and infrastructure. As of now, the program has adopted 100 villages across 16 States in 3 phases.

Shri Sanjay Prakash, MD & CEO, SBI Foundation, also expressed his delight over the successful completion of 5 years of the SBI Gram Seva scheme..

Source : Mint

7 .

Which Bank launched by WhatsApp banking services on 3rd Oct 2022?

A)

Indian Bank

B)

Bank of India

C)

Punjab National Bank (PNB)

D)

Union Bank of India (UBI)

Correct Answer : Punjab National Bank (PNB)

State-owned Punjab National Bank (PNB) on Monday(3rd Oct 2022) said it has introduced banking services through WhatsApp for both customers and non-customers.

In order to activate banking facility on WhatsApp, customers need to save the official PNB's WhatsApp number +919264092640 and initiate a conversation (on WhatsApp) by sending a hi/hello to this number, the bank said in a statement

The customers must ensure to check 'green tick' along with PNB's profile name on WhatsApp to ensure that this is a genuine WhatsApp banking account before initiating the conversation, the statement said.

At present, Punjab National Bank (PNB) would be offering non-financial services such as balance inquiry, last five transactions, stop cheque, request cheque book to its account holders through the WhatsApp banking service.

Other informative services that would be provided to both account and non-account holders include online account opening, enquire bank deposit/loan products, digital products, NRI services, locate branch/ATM, opt-in, opt-out options, it said..

Source : Mint

8 .

Active credit cards drop how many millions in August 2022 over new RBI norms?

A)

1.2 million

B)

1.7 million

C)

2.0 million

D)

2.3 million

Correct Answer : 2.3 million

The outstanding credit card base dropped to 77.99 million in August 2022 from over 80 million in July 2022, mainly on account of the new norms of the Reserve Bank of India (RBI) that warrant the deactivation of cards that are inactive for a year.

While there was a 2.8 per cent decline in net card additions on a month-on-month (MoM) basis in August, a first in many months, credit card spends slipped 3 per cent on a high base. Still, spends topped the Rs 1-trillion mark for the sixth consecutive month.

The banking system had been adding about 1-1.5 million cards a month for some time now. But in August, “credit cards outstanding for the industry declined by 2.3 million, largely as a result of sharp declines seen for HDFC Bank and Axis Bank.

This is largely on account of the implementation of the new RBI norms requiring credit card companies to deactivate cards that are inactive for 365 days. This should impact other players, as well with a lag”, stated Suresh Ganapathy and Param Subramanian in a report for Macquarie Research.

Major issuers, such as HDFC Bank and Axis Bank, have seen a significant drop in their net credit card additions in August 2022.

The number of HDFC Bank’s outstanding credit cards dropped by 8.47 per cent in a month to 16.42 million, from 17.94 million in July.

Axis Bank witnessed a 10.6 per cent drop in its outstanding credit card base to 8.87 million, from 9.93 million in July 2022. HDFC Bank is the largest credit card issuer in the country and Axis Bank is the fourth-biggest..

Source : Business Standard

9 .

Airtel Payments Bank to install How many micro ATMs this fiscal year(2022-23)?

A)

1,50,000

B)

1,75,000

C)

2,00,000

D)

2,50,000

Correct Answer : 1,50,000

Airtel Payments Bank has started rolling out 1.5 lakh micro ATMS in a phased manner across tier 2 cities and semi-urban regions to facilitate cash withdrawal for its customers, the company said on Wednesday(28th Sep 2022).

The Bank will gradually expand its service to cover more banking points in a phased manner.

The bank will leverage its strong network of over 5 lakh banking points across India to give users access to easy cash withdrawals through this initiative, it added.

The company has plans to finish the rollout of 1.5 lakh micro ATMs by the end of the current fiscal.

Airtel Payments Bank is now integrated with the National Payments Corporation of India's (NPCI) - National Financial Switch (NFS) to facilitate micro ATM transactions.

Airtel Payments Bank customers will be able to withdraw up to Rs 10,000 per transaction through the Micro ATMs..

Source : Business Standard

10 .

What percentage of GDP growth has the Reserve Bank of India (RBI) forecasted for the financial year 2023 (FY23) on 30th Sep 2022?

A)

7%

B)

6%

C)

5%

D)

4%

Correct Answer : 7%

The Reserve Bank of India (RBI) on Friday(30th Sep 2022) cut its economic growth estimate for fiscal year 2023 to 7% from 7.2% forecast earlier.

While it expects GDP growth to drop to 4.6% in the third and fourth quarter, respectively, from the estimated 6.3% in the second quarter, the broad expectation is that economic activity will recover by the first quarter of the next fiscal year.

India’s central bank has lowered its growth estimates on risks emanating from geopolitical tensions, monetary policy tightening across nations and elevated inflation.

Global growth is expected to slow down from 6.1% in 2021 to 3.2% in 2022 as the outlook is “gloomy and more uncertain,” RBI Governor "Shaktikanta Das" said in his speech on Friday(30th Sep 2022).

Several rating agencies have also recently trimmed their annual growth rate projections after GDP growth rate fell short of expectations in the past quarters..

Source : Business Insider

Banking - General Knowledge Questions