Latest Banking Dates General Knowledge(GK) Questions and answers

1 .

Which Bank announced a partnership with the Asian Development Bank (ADB) to support and promote supply chain finance solutions in India?

A)

RBL Bank

B)

Federal Bank

C)

Citibank

D)

IndusInd Bank

Correct Answer : IndusInd Bank

Private sector bank IndusInd Bank has announced its partnership with Asian Development Bank (ADB), a regional development bank catering to Asia and Pacific region, to create a partial guarantee programme to encourage supply chain finance solutions in India.

The initiative will have an initial outlay of $70 million (Rs 560 crore), said IndusInd Bank in a statement.

With the collaboration, the bank is looking forward to expand its MSME portfolio and strengthen its existing strategies for the sector.

IndusInd already has a few product structures for SCF and a digital portal called ‘earlyCredit’ to enable supply chain financing for corporates, suppliers and dealers.

Source : Financial Express

2 .

Which bank launches pilot project to "digitise Kisan Credit Card"?

A)

RBI

B)

SBI

C)

Central Bank of India

D)

Union Bank of India

Correct Answer : RBI

The Reserve Bank of India will run the pilot projects for complete digitalisation of Kisan Credit Card (KCC) lending from this month in the select districts of Madhya Pradesh and Tamil Nadu.

The digitalisation aims to make KCC-based lending more efficient by reducing costs and turn-around time for borrowers, and improving credit flow to the rural population.

RBI in a statement said the pilot is being developed by the Reserve Bank Innovation Hub (RBIH). Union Bank of India is the partner bank in Madhya Pradesh, while Federal Bank is the partner bank in Tamil Nadu. State governments will actively co-operate in running the pilot projects..

Source : Business Standard

3 .

Indian credit card issuer SBI Card has 1st Sep 2022 announced the launch of which card in India?

A)

YONO SBI Card

B)

CASHBACK SBI Card

C)

FREEDOM SBI Card

D)

CASHLESS SBI Card

Correct Answer : CASHBACK SBI Card

Indian credit card issuer SBI Card 1st Sep 2022 announced the launch of ‘CASHBACK SBI Card’ in India. As the company claims CASHBACK SBI Card is the industry’s first Cashback-focused credit card that enables cardholders to earn 5 percent cashback on all online spends without any merchant restrictions. Consumers across India, including tier 2 and 3 cities, can easily get CASHBACK SBI Card instantly through digital application platform ‘SBI Card SPRINT’.

Benefits of CASHBACK SBI Card :

* Cardholders can avail of four complimentary domestic airport lounge visits per year (one visit per quarter) on the card.

* “The card also offers a 1 per cent fuel surcharge waiver which is valid for transaction amounts ranging from Rs 500 to Rs 3,000, with a maximum surcharge waiver limit of Rs 100 per billing statement month for each credit card account.

* The annual renewal fee of the card is Rs 999 plus applicable taxes. CASHBACK SBI Card users can enjoy renewal fee reversal on reaching the milestone of Rs 2 lakh annual spending during the card membership year. CASHBACK SBI Card is available on the VISA platform,”..

Source : Business Today

4 .

Who has signed 25th Aug 2022 an agreement with ICICI Bank for the development of financial accounting software and mobile application?

A)

NMDFC

B)

ONGC

C)

BHEL

D)

NTPC Limited

Correct Answer : NMDFC

The National Minorities Development and Finance Corporation (NMDFC) on Thursday(25th Aug 2022) said it has signed an agreement with ICICI Bank for the development of financial accounting software and mobile application.

The Memorandum of Understanding (MoU) provides for the development of financial accounting software for NMDFC and State Channelizing Agencies (SCAs), loan accounting software for receiving and processing of loan applications and accounting of repayments from beneficiaries.

ICICI Bank will design, develop and deploy the application for NMDFC, provide source code and executable database information among others, an official statement said.

The customised banking software will bring greater transparency and speed of transactions in the loaning and accounting process of NMDFC as well as SCAs.

This will also facilitate submission of online applications by the targeted beneficiaries. Automation of activities of NMDFC by developing the software and mobile app would be a giant step forward by NMDFC towards accomplishing its mission of "Development with Dignity", it said..

Source : Business Today

5 .

Athletics Federation of India (AFI) has partnered with which bank to support young women athletes from 29th August 2022?

A)

Bank of America

B)

HDFC Bank

C)

HSBC India

D)

Standard Chartered

Correct Answer : HSBC India

Athletics Federation of India (AFI) on Monday(29th Aug 2022) announced its partnership with HSBC India to support women athletes of the country, especially the youngsters.

Under the partnership, promising girls will be picked from the National Inter District Championships for Under-14 and Under-16 categories and would be nurtured to perform on the global stage.

“Special coaching camps would be set up for the selected athletes and all their needs would be taken care of,” AFI President Adille Sumariwalla said at the launch of the partnership.

“The partnership with HSBC will not only help develop, grow and support women’s participation in various track and field disciplines but also raise their performance levels in international events,” he added.

HSBC India General Manager and CEO Hitendra Dave said, “We look forward to supporting our women athletes. We want to bolster their efforts by enabling access to training and equipment of international standard.” India’s first medallist in World Athletics Championships Anju Bobby George, Birmingham Commonwealth Games medallists Priyanka Goswami (10,000m race walk) and Annu Rani (javelin throw) and Asian Games silver winner (400m) Hima Das were also present on the occasion..

Source : The Print

6 .

Which Bank established a partnership with National Payments Corporation of India (NPCI) to offer RuPay credit cards from August 2022?

A)

HDFC Bank

B)

Axis Bank

C)

ICICI Bank

D)

Yes Bank

Correct Answer : ICICI Bank

ICICI Bank 29th Aug 2022 announced its partnership with National Payments Corporation of India (NPCI) to launch a range of credit cards on RuPay, the indigenous payments network. To begin with, the ICICI Bank RuPay Credit Card is available in the Coral variant of the Bank’s Gemstone series, which will be followed by Rubyx and Sapphiro variants soon.

Called, ‘ICICI Bank Coral RuPay Credit Card’, the contactless card offers a host of privileges and benefits including reward points on daily purchases like shopping and restaurants, paying utility bills, complimentary domestic airport & railway lounge access, waiver of fuel surcharge, discounts on movie tickets & dining, among others. The card also offers exclusive benefits of the RuPay network such as accident insurance coverage to the cardholder and dedicated personal concierge services.

Speaking on the launch, Sudipta Roy, Head- Credit Cards, Payment Solutions and Merchant Ecosystem, ICICI Bank, said, “ICICI Bank has always been at the forefront of offering innovative, powerful and distinctive value propositions for its customers. We are delighted to partner with NPCI to launch ICICI Bank Credit Cards on RuPay network, which is an Indian card payments network equipped with state-of-the-art technology..

Source : Mint

7 .

What was the percentage of bank credit growth in the quarter ended June 2022 in India?

A)

12.4%

B)

13.0%

C)

13.7%

D)

14.2%

Correct Answer : 14.2%

According to RBI statistics released on Thursday(25th Aug 2022), bank credit growth increased from 6% in the same quarter last year to 14.2% in the quarter that ended in June 2022.

Bank credit has increased by 10.8% in the three months that ended in March 2022. On Thursday(25th Aug 2022), the Reserve Bank of India (RBI) published the "Quarterly Statistics on Deposits and Credit of SCBs for June 2022." This information is gathered from all scheduled commercial banks (SCBs), which also include small financing banks (SFBs), regional rural banks (RRBs), and payment banks (PBs).

All population groups (rural, semi-urban, urban, and metropolitan), all bank groups (public/private sector banks, foreign banks, RRBs, and SFBs), and all geographic areas of the nation (central, eastern, north-eastern, northern, southern, and western) recorded double-digit annual credit growth in June 2022, according to the data.

Over the past five quarters, annualized deposit growth has been between 9.5% and 10.2%. Metropolitan branches continue to account for more than half of all bank deposits, and during the past year, their proportion has slightly grown.

Over the past three years, the proportion of deposits from current and savings accounts (CASA) in total deposits has increased (42% in June 2020, 43.8% in June 2021, and 44.5 % in June 2022).

The statistics revealed an increase in the credit-deposit (C-D) ratio as credit growth has recently outpaced deposit growth. The C-D ratio for all of India was 73.5% in June 2022 (compared to 70.5% a year earlier), while it was 86.2% for bank branches in major cities (84.3% a year ago)..

Source : India info line

8 .

Which Bank to launch campaign with Kochi Metro Rail Limited(KMRL) for its Kochi1 smart card in connection with Onam?

A)

Yes Bank

B)

Axis Bank

C)

HDFC Bank

D)

ICICI Bank

Correct Answer : Axis Bank

Axis Bank, which partnered with Kochi Metro Rail Limited (KMRL) in 2016 to enable cashless commute in the metro, has announced offers for Kochi-1 smart card holders in connection with Onam.

The bank has partnered with Amazon Pay to offer discounts on recharges, utility, and bill payments. Campaigns along with KMRL too will be organised to further promote the card among commuters. Cardholders will also get lounge access and discount on bus tickets, Sanjeev Moghe, president and head, cards and payments, Axis Bank, told the media here on Thursday(25th Aug 2022).

A total of 1.30 lakh smart cards have been issued so far, of which 16,000 are being used regularly by metro commuters.

The introduction of Radio Frequency Identification (RFID) tickets two months ago has helped improve the card’s patronage, he said, and hoped that the daily passenger patronage in the metro would cross the one lakh mark once its Thripunithura extension and Water Metro ferries were commissioned.

The Kochi-1 app has improved its rating to 3.90%, while efforts are on to enter into tie-ups with popular payment gateways so that commuters can purchase tickets through them as well, he added..

Source : The Hindu

9 .

What percentage of stake in Go Digit Life Insurance will be acquired by HDFC Bank?

A)

9.944 percent

B)

10.521 percent

C)

12.793 percent

D)

14.696 percent

Correct Answer : 9.944 percent

The country's largest private sector lender HDFC Bank on 25th August 2022 said it will invest in Go Digit Life Insurance Ltd, the general insurer backed by Canada-based Fairfax Group.

HDFC Bank said it has proposed an investment of between Rs 49.9-69.9 crore, in two tranches, by subscribing to equity shares of the company, for an equity stake of up to 9.944 percent of the paid-up equity share capital of the company.

The bank said it has entered into an indicative and non-binding term sheet with Go Digit Life Insurance.

The investment is subject to the execution of definitive agreements whose terms and conditions are to be mutually agreed upon, and fulfilment of other terms and conditions, the bank said..

Source : Cnbctv18

10 .

Which Bank launched contactless Which Bank launched contactless Yoddha co-branded RuPay credit card for the Indian Army??

A)

Bank of India

B)

Bank of Baroda

C)

Central Bank of India

D)

Punjab National Bank

Correct Answer : Bank of Baroda

Bank of Baroda-backed BOB Financial Solutions on Wednesday(24th August 2022) launched a Yoddha co-branded RuPay credit card for the Indian Army personnel, in partnership with National Payments Corporation of India (NPCI). The new co-branded credit card will be equipped with contactless features and will be offered on the RuPay platform.

In its statement, BoB highlighted that Yoddha, the co-branded credit card has been curated like none other, offering best-in-class features and benefits along with democratic choice, for the Indian Army personnel.

Further, the co-branded credit card will be offered Life Time Free (LTF) to all Indian Army personnel. Yoddha comes with attractive welcome, activation, and spend-based gifts. The card will also offer complimentary domestic airport lounge access and golf games/lessons.

Shailendra Singh, MD & CEO, BFSL, said, “We are honored and pleased to partner with the Indian Army. The uniquely designed credit card will offer uninterrupted payment convenience and benefits to the personnel of the Indian Army..

Source : Mint

Banking - General Knowledge Questions