Latest Banking Dates General Knowledge(GK) Questions and answers

1 .

Who has approved the appointment of Mahendra N Shah as managing director-designate of the company with effect from October 1, 2022, till September 30, 2023?

A)

IDBI Bank

B)

Motilal Oswal

C)

IDFC Ltd

D)

DSP Mutual Fund

Correct Answer : IDFC Ltd

The Board of IDFC Ltd has approved the appointment of Mahendra N Shah as Managing Director (MD) - Designate with immediate effect.

He will be MD with effect from October 1, 2022, till September 30, 2023, subject to approval of the shareholders of the company and other applicable statutory/regulatory approvals, IDFC said in a regulatory filing on Wednesday(24th August 2022).

The term of Sunil Kakar as MD & CEO of the company will end at the close of business hours on September 30, 2022..

Source : The Hindu Businessline

2 .

Reserve Bank of India became a net seller of US currency in June 2022 after selling how many billion USD on net basis?

A)

USD 2.397 billion

B)

USD 2.873 billion

C)

USD 3.265 billion

D)

USD 3.719 billion

Correct Answer : USD 3.719 billion

Reserve Bank of India turned net seller of the US currency in June after it sold USD 3.719 billion on a net basis, the central bank data showed.

In the reporting month, the central bank purchased USD 18.96 billion from the spot market and sold USD 22.679 billion, according to the RBI monthly bulletin for August 2022 released on Thursday(18th Aug 2022).

In June 2021, RBI was net buyer of the greenback after it purchased USD 18.633 billion on a net basis from the spot market. In May 2022, the central bank net bought USD 2.001 billion. It had purchased USD 10.143 billion and sold USD 8.142 billion during the month.

During the fiscal 2022, the central bank had net purchased USD 17.312 billion. It had bought USD 113.991 billion and sold USD 96.679 billion in the spot market in FY22..

Source : Business Standard

3 .

Which Bank has appointed Gopal Jain and Dr. Sivakumar Gopalan as the non-executive directors?

A)

RBL Bank

B)

Bank of India

C)

Canara Bank

D)

Union Bank of India

Correct Answer : RBL Bank

The RBL Bank augmented its strength with the appointment of two eminent members in the Board of Directors on Monday(22nd Aug 2022).

Gopal Jain, Managing Partner at Gaja Capital, an experienced Private Equity Investor, and Dr. Sivakumar Gopalan, an accomplished Researcher with over three decades of experience across various aspects of technology were inducted into the bank’s board.

“Gaja Capital has been a part of the Bank’s journey through the years. RBL Bank has been working on adding a diverse set of leaders with relevant experience to accelerate its 2.0 strategy. With the new additions the Bank’s board now has 14 members, guiding the Bank’s strategy on business, technology and innovation,” the RBL bank said in a press note. .

Source : Economic Times

4 .

Who has partnered with Yes Bank to offer digital escrow services for the bank's customers?

A)

Cyient

B)

Castler

C)

Happiest Minds

D)

eClerx Services

Correct Answer : Castler

Global escrow banking solution provider Castler has partnered Yes Bank to offer digital escrow services for the bank’s customers.

The company said the tie-up will further strengthen its digital leadership position and is part of an effort to make banking more inclusive and accessible to its growing consumer base.

Through this partnership, both are in pole position to dominate the Enterprise Escrow Banking space and digitally democratise the product for easy adoption amongst its varied customer base. Escrow banking is generally quite complex and Castler with its unique digital offering has demonstrated that technology and innovation can provide solutions to even the most complex requirements.

Key Points :

* Yes Bank Founded: 2004;

* Yes Bank Headquarters: Mumbai, Maharashtra;

* Yes Bank MD & CEO: Prashant Kumar;

* Yes Bank Tagline: Experience our Expertise..

Source : Economic Times

5 .

Who has joined the Account Aggregator framework of RBI, this will boost the regulated financial-data sharing system?

A)

SEBI

B)

IRDA

C)

NSDL

D)

NABARD

Correct Answer : SEBI

Capital markets regulator Securities and Exchange Board of India (Sebi) on Friday(19th Aug 2022) joined the account aggregator framework, a move that will give a boost to the Reserve Bank of India (RBI)-regulated financial-data sharing system.

It will allow customers to share information about their mutual fund and stock holdings with financial service providers.

Under the framework, Financial Information Providers (FIPs) in the securities market, like depositories and asset management companies (AMCs) -- through their Registrar and Transfer Agents or RTAs -- will provide financial information pertaining to securities markets to the customers and consented Financial Information Users (FIUs) through any of the account aggregators registered with the Reserve Bank of India (RBI)..

Source : Economic Times

6 .

Which Bank has launched latest campaign 'Vigil Aunty' with an aim to promote safe banking habits among people?

A)

Axis Bank

B)

ICICI Bank

C)

HDFC Bank

D)

Kotak Mahindra Bank

Correct Answer : HDFC Bank

To educate customers on the modus operandi of financial fraudsters and share inputs on safe banking habits, HDFC Bank has come out with a community awareness programme called ‘Vigil Aunty’. The bank has roped in actor Anuradha Menon, who will host chat shows on social media platforms to create awareness on cyber frauds.

Until now, the financial sector regulator had taken up the mantle to educate customers on frauds happening in this space.

Anuradha Menon who plays the popular character of ‘Lola Kutty’ on television, will be the face of the ‘Vigil Aunty’ campaign.

This campaign will run with the Bank’s popular ‘Mooh Band Rakho’ campaign, that urges people not to share their confidential banking information with others. The Vigil Aunty campaign will run for 4-6 weeks..

Source : Business Standard

7 .

Who is the highest salary paid bank CEO in India in FY22?

A)

Sashidhar Jagdishan

B)

Chandra Shekhar Ghosh

C)

Sandeep Bakhshi

D)

Amitabh Chaudhry

Correct Answer : Amitabh Chaudhry

Axis Bank managing director and chief executive officer (MD & CEO) "Amitabh Chaudhry" was the highest-paid private bank chief in India in the previous financial year, drawing a total of Rs 7.62 crore in annual salary, as per the bank’s FY22 annual report.

Chaudhry was also separately granted a total of 412,938 stock options of Axis Bank during FY22, on the basis of approval received from the Reserve Bank of India (RBI), the Axis Bank annual report said. The stock options were granted at Rs 726.25 per share.

“The vesting schedule for the said stock options is 30 percent options after expiry of one year, 30 percent options after expiry of two years and balance 40 percent options after expiry of three years from the date of grant.

Chaudhry was followed by IndusInd Bank chief Sumant Kathpalia, who made over Rs 7.31 crore in annual salary in FY22. Kathpalia was followed by ICICI Bank MD Sandeep Bakhshi, who earned Rs 7.05 crore in annual salary last fiscal, as per the bank’s annual report.

HDFC Bank MD & CEO Sashidhar Jagdishan pulled in Rs 6.51 crore during the previous fiscal, while Bandhan Bank MD C.S. Ghosh drew Rs 4.35 in annual salary in FY22. HDFC Bank executive director Kaizad Bharucha, meanwhile, earned more than the lender’s MD during the previous fiscal, drawing a total of Rs 10.64 crore, including performance bonuses.

Source : Money Control

8 .

Which Bank has signed an MoU with Food Corporation of India (FCI) to provide "Ultima Salary Package" with exclusive benefits & features to all its employees?

A)

HDFC Bank

B)

YES Bank

C)

Axis Bank

D)

ICICI Bank

Correct Answer : Axis Bank

Axis Bank, India’s third largest private sector bank, has signed an MoU with Food Corporation of India (FCI) to provide “Ultima Salary Package”, a best-in-class salary account with exclusive benefits & features to all its employees. With this MoU, the Bank has reinstated its commitment to offering holistic banking services to the employees of the Public Sector Undertakings (PSU) sector.

A signing ceremony was held at FCI Headquarters, New Delhi where FCI was represented by Shri G. N Raju, GM HQ and Axis Bank was represented by Shri Anil Agarwal, President, Financial Institutions Group & Lt Col M.K Sharma, National Accounts Head.

Through this exclusive Ultima Salary package, the Bank will offer numerous benefits such as :

* Personal Accidental cover of up to Rs.20 lakhs

* Additional Education Grantupto Rs. 8 lakhs

* Total Permanent Disability Cover benefit up to Rs. 20 lakhs

* Permanent Partial disability cover of up to Rs.20 lakhs

* Air Accident cover of Rs. 1 Crore

* Free additional debit card for a family member

* 12 EMI waiver on Home loan

* 3 zero balance accounts for family member

Universal account number wherein all Axis Bank branches will function as a “Home branch”

This MoU is a reflection of Axis Bank’s constant endeavour to address the banking requirements of different customer segments, helping them meet their financial aspirations & milestones..

Source : Pragativadi

9 .

State Bank of India has launched its first dedicated branch for Startups in which city?

A)

Mumbai

B)

Bengaluru

C)

Delhi

D)

Hyderabad

Correct Answer : Bengaluru

State Bank of India (SBI) has launched its first branch dedicated to start-ups in Koramangala, Bengaluru, the country’s largest lender said on Tuesday(16th August 2022).

Apart from providing funding and regular banking service to start-ups, SBI will also support such players through associated services such as investment banking, treasury operations, advisory and other ancillary financial services through its subsidiaries.

The branch will provide services ranging from the stage of formation of start-ups to Initial Public Offerings and Follow-on Public Offerings, SBI said..

Source : Business Standard

10 .

Which term deposit scheme has been launched by Karnataka Bank in August 2022?

A)

KBL Amrit Samriddhi

B)

Krishik Sinchana Scheme

C)

KBL Instant Agri Credit

D)

KBL Agro Processing Scheme

Correct Answer : KBL Amrit Samriddhi

In commensurating with the Nation celebrating its 75 years of Independence as Azadi Ka Amrit Mahotsav, Karnataka Bank has introduced a new Term Deposit Scheme, "KBL Amrit Samriddhi" under ACC and Fixed Deposit for a tenure of 75 weeks (525 days). The interest rate for this Deposit Scheme is 6.10% per annum.

While wishing on the occasion, Shri Mahabaleshwara M S, MD & CEO of the Bank said, “India is celebrating the glorious history of its people, culture and achievements in a jubilant way.

Karnataka Bank, portraying the rich patriotic tradition and values, has always been ready to meet the aspirations and dreams of its valued patrons. With the new product, KBL Amrit Samriddhi, Bank extends the benefit of increase in the interest rates to our customers. I request each one of you to make use of this opportunity, which will be available for a limited time.”.

Source : Karnataka Bank

Banking - General Knowledge Questions