Latest Banking Dates General Knowledge(GK) Questions and answers

1 .

The Reserve Bank of India (RBI) increased the repo rate by 50 basis points to what percentage on 30th Sep 2022?

A)

5.50%

B)

5.90%

C)

6.36%

D)

6.80%

Correct Answer : 5.90%

RBI announced in the Monetary Policy Statement dated September 30, 2022, it has been decided by the Monetary Policy Committee (MPC) to increase the policy Repo rate under the Liquidity Adjustment Facility (LAF) by 50 basis points from 5.40 per cent to 5.90 per cent with immediate effect.

* Consequently, the standing deposit facility (SDF) rate and marginal standing facility (MSF) rate stand adjusted to 5.65 per cent and 6.15 per cent respectively, with immediate effect.

* All other terms and conditions of the extant LAF Scheme will remain unchanged..

Source : RBI

2 .

Which company has partnered with the Axis Bank to launch a co-branded credit card, that is powered by Visa?

A)

Apple

B)

Nokia

C)

Samsung

D)

Motorola

Correct Answer : Samsung

Samsung, a consumer electronics company, and Axis Bank have partnered to launch a co-branded credit card, powered by Visa.

With the Samsung Axis Bank Credit Card, consumers will get 10% cashback across all Samsung products and services round the year. The 10% cashback offer through Samsung Axis Bank Credit Card will be over and above existing Samsung offers, on both EMI and non-EMI transactions.

Consumers can choose between two variants - Visa Signature and Visa Infinite.

On the Signature variant, cardholders can avail up to ₹10,000 cashback annually, with a monthly cashback limit of ₹2,500.

On the Infinite variant, cardholders can avail up to ₹20,000 cashback annually, with a monthly cashback limit of ₹5,000.

There is no minimum transaction value, which means cardholders can get 10% cashback on the smallest of Samsung purchases. Additionally, cardholders will earn Edge Reward Points on spends made outside the Samsung Ecosystem..

Source : Mint

3 .

Which Bank has launched a festive campaign named "Khushiyon ka Tyohaar" with a range of offers for customers?

A)

Indian Bank

B)

Bank of Maharashtra

C)

Central Bank of India

D)

Bank of Baroda

Correct Answer : Bank of Baroda

Bank of Baroda has launched a festive campaign named "Khushiyon ka Tyohaar" with a range of offers for customers.

* BoB Home Loans are available at a competitive interest rate beginning at 7.95% p.a. with no processing charges.

* BoB Car Loans are being offered at a special rate starting from 7.95% p.a. – a 25 basis points concession.

Other benefits : No pre-payment/ part payment charges, concessional processing charges, and longer repayment tenure of seven years..

Source : Theweek

4 .

Who named as Independent Director of Stashfin from September 2022?

A)

Doug Ricket

B)

Anupam Pahuja

C)

Rohit Kulkarni

D)

Vijay Jasuja

Correct Answer : Vijay Jasuja

Leading Fintech platform Stashfin has made a key addition to its leadership team with the announcement of renowned BFSI (Banking, Financial Services and Insurance) expert and former MD and CEO of SBI Cards, Vijay Jasuja as Non-Executive Independent Director.

Jasuja, an industry veteran, has more than 40 years of BFSI experience in leadership positions across Indian and overseas markets, having been the MD and CEO of SBI Cards, and director, PNB Cards. He has held multiple leadership positions at SBI including General Manager, Hyderabad; General Manager (IBG), Mumbai; Country Head and CEO, Maldives and Regional Head, Sub-Saharan Africa.

He joins the diverse and experienced Stashfin Board, which boasts of BFSI experts and former Chief General Managers of SBI – Radhakrishnan Iyer and Vijuy Ronjan.

With his rich expertise in different facets of the banking industry, including corporate lending, governance, pricing strategy, compliances, debt and equity syndication, de-risking of portfolio and financial engineering, he brings with him a thorough understanding of how to sustain the ever evolving fintech ecosystem, and make it more secure and accessible for borrowers across India..

Source : Business World

5 .

How many billions will the Asian Development Bank (ADB) provides for food security in Asia-Pacific in 2022–2025?

A)

$14 billion

B)

$17 billion

C)

$21 billion

D)

$25 billion

Correct Answer : $14 billion

The Asian Development Bank (ADB) has announced plans to provide at least $14 billion to Asia-Pacific for 2022–2025.

Reason : To ease a worsening food crisis and improve long-term food security by strengthening food systems due to climate change.

Use of fund : The funding will be channeled through existing and new projects in sectors including farm inputs, food production and distribution, social protection, irrigation, and water resources management..

Source : ADB

6 .

Which bank has inaugurated 'Ethical Hacking Lab' at the Cyber security Centre of Excellence (CCoE) in Hyderabad on 23 September 2022?

A)

Canara Bank

B)

Union Bank of India

C)

Bank of India

D)

Indian Bank

Correct Answer : Union Bank of India

The Union Bank of India inaugurated the Ethical Hacking Lab at the Cyber Security Centre of Excellence (CCoE) on Friday(23rd Sep 2022).

The lab with cyber defence mechanism will protect the bank’s information system, digital assets, and channels, against potential cyber threats.

The lab was inaugurated by the bank’s managing director and CEO A. Manimekhalai.

Ms. Manimekhalai said, “Union Bank is adopting digital products in a big way. Various new initiatives are being taken up by the bank to increase digital footprints. IT assets are increasingly exposed to the internet. In this backdrop, our bank has established the Ethical Hacking Lab to strengthen the cyber ecosystem.”..

Source : The Hindu

7 .

How many million loan has World Bank sanctioned to Gujarat for “Systems Reform Endeavors for Transformed Health Achievement in Gujarat (SRESTHA-G)”?

A)

USD 250 million

B)

USD 300 million

C)

USD 350 million

D)

USD 450 million

Correct Answer : USD 350 million

World Bank has approved a USD 350 million or over ₹2,832 crore loan to Gujarat for augmenting health services with a special focus on adolescent girls and disease surveillance in the state. The Executive Board of Directors has given nod to the loan, said the multilateral funding agency as quoted by PTI.

The agency informed that the funding will come from the World Bank arm International Bank of Reconstruction and Development (IBRD), carrying a maturity of 18 years including a grace period of 5.5 years.

According to the World Bank, the loan amount will be utilized through the state government's Systems Reform Endeavours For Transformed Health Achievement In Gujarat (SRESTHA-G) programme which will enable more people to access a wider range of high-quality health services.

Currently, Gujarat provides seven health services to its citizens including reproductive, maternal, newborn, child and adolescent health, communicable and non-communicable diseases (NCDs)..

Source : Mint

8 .

By how many crores has MUFG Bank (Japan) raised the capital of its branches in India on 21st Sep 2022?

A)

₹1,000 crore

B)

₹2,000 crore

C)

₹3,000 crore

D)

₹5,000 crore

Correct Answer : ₹3,000 crore

Japan’s MUFG Bank on Wednesday(21st Sep 2022) said it has boosted the capital of its branches within India by ₹3,000 crore, as the bank looks to expand its India business, it said in a statement. As a result of this capital injection, the total capital of MUFG Bank in India will rise to ₹5,207 crore, the statement said.

With the help of the funds, MUFG Bank will strengthen its financial base in India and better respond to the diverse financing needs of its clients, it added.

“India’s growth has been a phenomenal success story and this capital increase is a reflection of MUFG’s optimism of the country’s future and commitment to its long-term development. MUFG is proud of its longstanding presence in India and our ambition has always been to establish ourselves as one of the top global foreign franchises here.

With this increase in capital, we will be in a stronger position to better support our clients and their aspirations, while further showcasing the remarkable opportunities that India has to offer to global companies," said Atsushi Deguchi, regional executive of India and Sri Lanka at MUFG Bank..

Source : Mint

9 .

RBI has canceled the license of which of the following co-operative bank on 22 September 2022?

A)

Janata Cooperative Bank

B)

Bharat Cooperative Bank

C)

Saraswat Cooperative Bank

D)

Laxmi Co-operative Bank

Correct Answer : Laxmi Co-operative Bank

Reserve Bank of India (RBI), vide order dated September 14, 2022, has cancelled the licence of “The Laxmi Co-operative Bank Limited, Solapur, Maharashtra”. Consequently, the bank ceases to carry on banking business, with effect from the close of business on September 22, 2022.

The Commissioner for Cooperation and Registrar of Cooperative Societies, Maharashtra has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.

The Reserve Bank cancelled the licence of the bank as :

* The bank does not have adequate capital and earning prospects. As such, it does not comply with the provisions of Section 11(1) and Section 22 (3) (d) read with Section 56 of the Banking Regulation Act, 1949.

* The bank has failed to comply with the requirements of Sections 22(3) (a), 22 (3) (b), 22(3)(c), 22(3) (d) and 22(3)(e) read with Section 56 of the Banking Regulation Act, 1949;

* The continuance of the bank is prejudicial to the interests of its depositors;

* The bank with its present financial position would be unable to pay its present depositors in full; and

* Public interest would be adversely affected if the bank is allowed to carry on its banking business any further.

* Consequent to the cancellation of its licence, “The Laxmi Co-operative Bank Limited, Solapur, Maharashtra” is prohibited from conducting the business of ‘banking’ which includes, among other things, acceptance of deposits and repayment of deposits as defined in Section 5(b) read with Section 56 of the Banking Regulation Act, 1949 with immediate effect.

* On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to a monetary ceiling of ₹5,00,000/- (Rupees five lakh only) from Deposit Insurance and Credit Guarantee Corporation (DICGC) subject to the provisions of DICGC Act, 1961. As per the data submitted by the bank, about 99% of the depositors are entitled to receive full amount of their deposits from DICGC. As on September 13, 2022, DICGC has already paid ₹193.68 crore of the total insured deposits under the provisions of Section 18A of the DICGC Act, 1961 based on the willingness received from the concerned depositors of the bank..

Source : RBI

10 .

Who appointed as non-executive chairman of Yes Bank with effect from 20 September 2022, for a tenure of 3 years?

A)

Rama Subramaniam Gandhi

B)

Raghuram Rajan

C)

Urjit Patel

D)

Shaktikanta Das

Correct Answer : Rama Subramaniam Gandhi

* The Reserve Bank of India (RBI) has given its approval to the appointment of Rama Subramaniam Gandhi as the Non-Executive (Part-time) Chairman of Yes Bank with effect from 20 September 2022, for a tenure of 3 years.

* He is currently serving as a financial sector policy expert and adviser.

* He served as an RBI deputy governor for three years from 2014 to 2017.

* He also served as a director of Institute for Development and Research in Banking Technology (IDRBT), Hyderabad..

Source : Mint

Banking - General Knowledge Questions