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Banking - General Knowledge Questions
A)
Indian Bank
B)
State Bank of India
C)
Central Bank of India
D)
Union Bank of India

Correct Answer : Option (B) - State Bank of India

In a move to make banking easier for its customers, India’s largest public sector lender, State Bank of India or SBI has launched its WhatsApp Banking services, it said in a Twitter post. SBI customers can avail certain banking services from the lender using WhatsApp, which may come in handy for many as they do not have to download the app or go to the ATM anymore. This comes days after SBI chairman Dinesh Khara had revealed plans of the bank going the WhatsApp way.
 
SBI WhatsApp Banking services will be available to customers when they send a message saying ‘Hi’ on the number +919022690226, the bank said in the tweet. During a press meet o July 1, Khara had announced that SBI would launch its WhatsApp Banking services for customers soon but did not provide any details on to what services will be available. However, we now know after the launch that what services the customers can avail.
 
Step 1 : If you have not registered your account, you need to provide your consent first to get SBI banking services on WhatsApp with the number provided by the bank. An unregistered customer will receive the following message: You are not registered for SBI WhatsApp Banking services. To register and provide your consent for using these services, kindly send the following SMS WAREG A/c No to 917208933148 from your Registered Mobile No with the Bank. You can view the detailed T&C for these services on bank.sbi
 
Step 2 : Once you have registered, type ‘Hi’ SBI on the number +919022690226 or reply to the message you have received on WhatsApp saying “Dear Customer, You are successfully registered for SBI WhatsApp Banking services."
 
Step 3 : Once you have sent your message, you will receive this reply:
 
Dear Customer,
Welcome to SBI Whatsapp Banking Services!
 
Please choose from any of the options below.
 
1. Account Balance
 
2. Mini Statement
 
3. De-register from WhatsApp Banking
 
You may also type your query to get started.
 
Step 4 : Choose from options 1 or 2 to check your account balance or get a mini statement of your last five transactions. You can also choose Option 3 if you want to de-register from SBI WhatsApp Banking.
 
Step 5 : Your account balance or mini statement will be displayed as per your choice. You can also type in your query if you have any.
 
State Bank of India also offers WhatsApp-based services to its credit card holders through the platform under the name of SBI Card WhatsApp connect. Through this, SBI credit card customers can check their account summary, reward points, outstanding balance, make card payments and more..

Source : News18

A)
DBS bank
B)
Citibank
C)
POSB Bank
D)
United Overseas Bank

Correct Answer : Option (A) - DBS bank

Development Bank of Singapore Limited (DBS Bank) has been recognized as the ‘World’s Best SME Bank’ by Euromoney for the second time (the first time in 2018). The bank has established its position as a global industry leader in association with Small to Medium Enterprises (SMEs) to enhance growth and development. 
 
DBS’ latest global best SME bank accolade comes from leading UK-based financial publication Euromoney, which has honoured DBS with the ‘World’s Best SME Bank’ title for the second time since 2018..

Source : PR Newswire

A)
Axis Bank
B)
ICICI Bank
C)
Kotak Mahindra Bank
D)
HDFC Bank

Correct Answer : Option (C) - Kotak Mahindra Bank

Kotak Mahindra Bank has announced the successful integration of its recently-launched(july 2022) e-filing portaleportal.incometax.gov.in. With this integration, it has become one of the first private sector banks to be integrated for direct tax payments. 
 
According to a press release by the bank, this integration will allow both individuals and corporates to conveniently pay their direct taxes online through the e-pay tax tab. 
 
After submitting the required data for tax filing, they will be redirected to the bank’s Netbanking platform. Alternatively, they can also approach the nearest branch to complete the process. The aim is to make the tax-payment process “simple, instant and convenient”, the bank said.
 
Dipak Gupta, joint managing director, Kotak Mahindra Bank said that with this facility, they have become one of the first banks to offer a direct taxes payment ecosystem across all channels..

Source : Outlookindia

A)
Ujjivan Financial Services Private Ltd.
B)
Mahindra Financial Services Private Ltd.
C)
SREI Infrastructure Finance Private Ltd.
D)
Ola Financial Services Private Ltd

Correct Answer : Option (D) - Ola Financial Services Private Ltd

The Reserve Bank of India (RBI) on Tuesday(12th July 2022) fined Ola Financial Services Private Ltd over Rs 1.67 crore (Rs 1,67,80,000) for non-compliance of regulations.
 
Announcing the penalty of Rs 1,67,80,000, the RBI said Ola Financial Services did not comply with its Know Your Customer direction.
 
The penalty has been imposed in exercise of powers vested in the central bank under Section 30 of the Payment and Settlement Systems Act, 2007.
 
"This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the entity with its customers," the RBI said.
 
According to it, Ola Financial Services was non-compliant with the directions issued by the RBI on KYC requirements.
 
Accordingly, notice was issued to the entity advising it to show cause as to why penalty should not be imposed for non-compliance with the directions, the RBI said..

Source : Businessinsider

A)
SBI
B)
Canara Bank
C)
Indian Bank
D)
RBL Bank

Correct Answer : Option (D) - RBL Bank

India Mortgage Guarantee Corporation (IMGC) on Wednesday(13th July 2022) announced its strategic partnership with RBL Bank to offer mortgage guarantee-backed home loan products to salaried and non-salaried customers.
 
This partnership with IMGC will help RBL Bank extend mortgage guarantee-backed home loans to new borrower segments through the bank’s network of over 500 branches across the country, IMGC said in a statement.
 
The alliance would enable a compelling value proposition for its customers and help create a conducive lending environment for early home ownership by ensuring timely disbursal of housing credit and longer tenure to customers, it said.
 
The tie-up has been designed in a manner to address the needs of a wide range of customers through varied products, it said.
 
Private player IMGC provides mortgage guarantee to lenders for home loans. It has provided guarantee to more than 85,200 home loans amounting to more than Rs 15,400 crore through its partnership with 23 lenders, including banks and housing finance companies..

Source : Financial Express

A)
Rakesh Sharma
B)
Meena Hemchandra
C)
Rupa Devi Singh
D)
Hasmukh Adhia

Correct Answer : Option (B) - Meena Hemchandra

Private sector lender Karur Vysya Bank on Tuesday(12th July 2022) said the Reserve Bank of India (RBI) has approved the appointment of former RBI executive "Meena Hemchandra" as part-time chairman of the bank for three years.
 
In May, the bank had recommended Hemchandra's candidature for the position of non-executive independent (part-time) chairperson of the bank to the RBI for approval.
 
"We wish to inform...Reserve Bank of India vide their letter dated July 11, 2022, accorded their approval for the appointment of Meena Hemchandra as part-time chairman of the bank," Karur Vysya Bank said in a regulatory filing.

She is a career banker with over 35 years of banking experience in various departments of the RBI.
 
Hemchandra was the Executive Director of RBI from June 2015 to November 2017.

Source : Business Standard

A)
City Union Bank
B)
State Bank of India
C)
Indian Overseas Bank
D)
IDFC FIRST Bank

Correct Answer : Option (A) - City Union Bank

City Union Bank (CUB) and Shriram General Insurance, on Friday(8th July 2022), signed a corporate agency agreement, where the bank will distribute the latter’s insurance products through its network of 727 branches across India.
 
Under this agreement, Shriram General Insurance will offer personal lines of insurance products such as motor, personal accident, home and travel, along with commercial lines of insurance products such as property, marine and engineering insurance to the bank’s customers. The agreement will help deliver enhanced customer experience by leveraging technology and augmenting the services distributed by the bank, says a release.
 
For general insurance, life insurance, and health insurance, the Insurance Regulatory and Development Authority (IRDAI) has allowed banks to form alliances with three different corporations. The bank and Shriram Insurance have recently formed a partnership.
 
In the beginning, the bank collaborated with the broking company Bharat Re Insurance Brokers (of the Shriram Group) to handle customers, assess risks, and settle claims. However, this is no longer present..

Source : Hhindubusinessline

A)
Indian Bank
B)
Canara Bank
C)
Union Bank of India
D)
Bank of Baroda

Correct Answer : Option (C) - Union Bank of India

Union Bank of India has announced the launch of a Metaverse Virtual Lounge & Open Banking Sandbox environment. This initiative is in partnership with Tech Mahindra.
 
Uni-verse, the bank’s Metaverse Virtual Lounge, will host product information and videos in the initial phase. Uni-verse will deliver a unique banking experience to customers by providing them information on the bank’s deposits, loans, government welfare schemes, digital initiatives etc. in a way as if they are in the real world.
 
The bank has also launched an Open Banking Sandbox environment through which it will collaborate with fin-techs and start-up partners for developing and launching innovative banking products.
 
A Manimekhalai, MD&CEO, Union Bank of India, affirmed the bank’s adoption of latest technologies including Metaverse to transform customers’ banking experience to another level, at the launch event organised in Mumbai. Nitesh Ranjan, Executive Director, Union Bank of India, reiterated the bank’s commitment of facilitating an innovative banking experience to its customers through the launch of Metaverse and Sandbox..

Source : Mint

A)
Indian Army
B)
Indian Air Force
C)
Indian Navy
D)
National Security Guard

Correct Answer : Option (B) - Indian Air Force

Punjab National Bank (PNB), the nation’s leading Public Sector Bank, has signed(7th July 2022) a Memorandum of Understanding (MoU) with the Indian Air Force (IAF) to provide specially designed products to the defence personnel under the bank’s flagship scheme of ‘PNB Rakshak Plus’.

The scheme covers personal accidental insurance, air accidental insurance to serving, retired and trainees of the defence forces, central armed police forces, state police force, metro police and retired defence pensioners.

The salient features of “PNB Rakshak Plus” include :
 
* Personal Accidental (Death) cover of Rs 50 lakh.
 
* Air Accidental (Death) Insurance cover of Rs 100 lakh.
 
* Personal Accidental (Permanent Total Disability) cover of Rs 50 lakh.
 
* Sweep Facility –
 
* Initial threshold amount – Rs 10000/-
 
* Minimum Sweep In/Out – Rs 1000/-
 
* Multiples of – Rs 1000/-
 
* No ‘Cash Handling Charges’ levied for the transaction(s) implying thereby that all branches of PNB, PAN-India, would be considered as ‘Home’ branch.
 
* Overdraft upto last 3 months Net Salary/Pension amounting from Rs 75000 to Rs 3 lakh.
 
* Concession in rate of interest and service charges under Housing, Car, Education and Personal Loan Schemes.
 
* Education loan under “PNB Pratibha” is available for wards of a Primary Account holder who takes admission in premier institutes and the Army Educational institutions.
 
* Zero balance saving account to family members.
 
* Concession in locker rent – 25 per cent Annual Maintenance Charges (AMC) waived off for three years from date of issue.
 
* Financial assistance of Rs. 1 lakh per year for 4 years or the actual expenditure whichever is less, for education of two surviving and dependent child (Male/Female) of a PAI (Death).
 
* Unlimited free DDs/POs with a ceiling of Rs 50,000 per free DD/PO.
 
* Gorkha personnel can remit the amount from his PNB a/c in India to their linked account in Everest Bank Limited (EBL) at Nepal and vice-versa, free of charge.
 
* Free SMS Alerts for transactions in the account and on the connected Debit/Credit card(s)..

Source : The Print

A)
Federal Bank
B)
IndusInd Bank
C)
Union Bank of India
D)
South Indian Bank

Correct Answer : Option (D) - South Indian Bank

The South Indian Bank has signed an agreement with Kerala’s Forest and Wildlife Department to enable digital collection of payments at eco-tourism centres, Vanasree shops, mobile Vanasree units and eco-shops across the State.
 
Through this partnership, the digital collection system of South Indian Bank will now be available at all 124 tourist spots that fall under the Forest Department.
 
The tie-up will commence with the setting up of 124 POS machines at various eco-tourism centres, Vanasree shops, mobile Vanasree units and eco-shops under 36 forest department agencies across Kerala.

Sanchay Kumar Sinha, Country Head of retail banking department, South Indian Bank, said, “The bank’s digital payment system will be very convenient for customers who visit sales outlets run by the Kerala Forest and Wildlife Department..

Source  : The Hindu Businessline