Latest Banking Dates General Knowledge(GK) Questions and answers

1 .

Which Bank partners with "SellerApp" to facilitate adoption of ONDC?

A)

Axis Bank

B)

Yes Bank

C)

ICICI Bank

D)

HDFC Bank

Correct Answer : Yes Bank

* Yes Bank has announced Saturday(13th August 2022) its partnership with SellerApp (a seller-centric intelligence platform) to adopt Open Network Digital Commerce (ONDC).

* This partnership will help them to expand their digital commerce footprint.

* ONDC is a strategic initiative of the Indian government with an aim to democratize the entire digital commerce space.

* The network is also being built as an alternative to e-tailers like Walmart-owned Flipkart and Amazon in the Indian ecommerce market..

Source : Economic Times

2 .

Kotak Mahindra Bank has launched a lifestyle-focused salary account named on?

A)

Kotak Pay

B)

Kotak Sweet

C)

Kotak Salary

D)

Kotak Creme

Correct Answer : Kotak Creme

Kotak Mahindra Bank Limited on Wednesday(10th Aug 2022) announced the launch of Kotak Crème, a lifestyle-focused corporate salary account, offering an upgraded banking experience to new-age professionals working with eminent corporates.

With Kotak Bank’s flagship premium banking programme, Privy League at the core of its design, Kotak Crème account will come with a host of privileges and rewards across lifestyle, travel, healthcare, dining, skilling and learning experiences.

The account will offer premium rewards and banking experiences to each employee of the partner corporate that includes MNCs, consulting firms, law firms, non retail FIs and unicorn companies.

Kotak Crème is being launched in Bengaluru owing to the city’s diverse hotbed of talent and corporates. Each salary account comes with preferential banking services, including a complimentary Zen Credit Card. The account holder can avail of complimentary airport lounge access and also gift Privy League privileges to their family members. Kotak Crème also offers subscription to top lifestyle brands offering Health & Wellness, Lifestyle, Entertainment, Knowledge/Learning & Fitness experiences..

Source : Mint

3 .

Which Bank launches "Utsav fixed deposit scheme"?

A)

Indian Bank

B)

Canara Bank

C)

State Bank of India

D)

Union Bank of India

Correct Answer : State Bank of India

The State Bank of India (SBI) has introduced a unique term deposit programme called "Utsav Deposit."

This fixed deposit scheme has higher interest rates and is only available for a limited time.

Under the Utsav Fixed Deposit Scheme, SBI is offering an interest rate of 6.10% per annum on fixed deposits with a tenure of 1000 days.

And senior citizens will be eligible to get an additional interest rate of 0.50% over and above the regular rate..

Source : Mint

4 .

Who has approved the merger proposal of HDFC Bank and its parent HDFC Ltd?

A)

Ministry of Corporate Affairs

B)

Reserve Bank of India(RBI)

C)

Securities and Exchange Board of India(SEBI)

D)

Competition Commission of India (CCI)

Correct Answer : Competition Commission of India (CCI)

Fair trade regulator Competition Commission of India (CCI) has approved the merger proposal of HDFC Bank and its parent HDFC Ltd.

The proposed combination envisages the merger of HDFC Investments and HDFC Holdings with HDFC Ltd in the first step and subsequently, the merger of HDFC Ltd into HDFC Bank.

In a tweet on Friday(12th August 2022), CCI said it has approved the "proposed combination involving amalgamation of HDFC Limited, HDFC Bank, HDFC Investments and HDFC Holdings."

In April, the country's largest housing finance company HDFC Ltd announced that it will merge with HDFC Bank..

Source : Business Standard

5 .

Which Bank inks an agreement with Trade receivables Discounting System (TReDs) platform M1xchange?

A)

HDFC Bank

B)

Axis Bank

C)

ICICI Bank

D)

YES Bank

Correct Answer : HDFC Bank

Trade receivables discounting platform M1xchange has tied up with HDFC Bank with an aim to provide more liquidity to small businesses at competitive interest rates.

"HDFC Bank has partnered with M1xchange promoted by Mynd Solutions Pvt Ltd to make a debut in the Trade receivables Discounting System (TReDs) platform. This move is expected to bring in high liquidity to buyer corporates and MSMEs at competitive interest rates," said a release on Tuesday(11th Aug 2022).

TReDS system, regulated by RBI, enables Micro, Small & Medium Enterprises (MSMEs) to auction their trade receivables online and borrow funds from the financial institution which offers loan at the lowest rate of interest.

"The collaboration between HDFC Bank and M1xchange is another significant step forward in the provision of financing to MSME and micro category businesses," Sundeep Mohindru, MD & CEO, M1xchnage, said.

HDFC Bank will benefit from partnering with M1xchange with shorter turn-around time and lower administrative costs in booking additional new-to-bank (NTB) corporate buyer relationships, he said.

Source : Economic Times

6 .

Which bank has joined hands with IBSFINtech (TreasuryTech Solution provider) to explore digital services for corporate clients?

A)

Axis Bank

B)

YES Bank

C)

HDFC Bank

D)

ICICI Bank

Correct Answer : YES Bank

YES Bank has joined hands with IBSFINtech (TreasuryTech Solution provider) to explore digital services for corporate clients.

This partnership will strengthen the corporate treasury ecosystem with a strong decision-making tool and automated workflows.

It will provide connectivity between a corporate’s ERP (Enterprise resource planning) and a bank’s solutions.

YES Bank MD & CEO : Prashant Kumar; Headquarters: Mumbai

Source : Thehindubusinessline

7 .

Which Bank and LetsVenture have partnered to support the startup ecosystem by providing curated products and solutions to startups (founders and investors)?

A)

HDFC Bank

B)

IDFC FIRST Bank

C)

IndusInd Bank

D)

Kotak Mahindra Bank

Correct Answer : IDFC FIRST Bank

IDFC FIRST Bank and LetsVenture have partnered to support the startup ecosystem by providing curated products and solutions to startups (founders and investors).

* IDFC FIRST Bank provides customised solutions to start-ups under its FIRST WINGS programme.

* With this, it makes IDFC FIRST Bank a preferred banker to all startups on LetsVenture's Scalix.

* LetsVenture's Scalix is a newly launched platform that supports the startUp ecosystem.

Source : Business Standard

8 .

Which Bank has signed an MoU with Hatchlab Research Centre, TBI of SRM University-AP to launch 'IND Spring Board'?

A)

Canara Bank

B)

Bank of Baroda

C)

Indian Bank

D)

Union Bank of India

Correct Answer : Indian Bank

Indian Bank Inks MoU with SRM University-AP to Lend up to 50 Crores for Start-ups Andhra Pradesh, India (NewsVoir) Indian Bank has collaborated with Hatchlab Research Centre, TBI of SRM University-AP to launch 'IND Spring Board', an initiative for financing start-ups and MSMEs.

The bank will extend loans of up to Rs. 50 crore to start-ups incubated at SRM Hatchlab for their working capital requirements or purchase of machinery and equipment.

This collaboration is one of its kind in the state of Andhra Pradesh. Introducing the ventures at Hatchlab Research Centre, which will be availing of the Ind Spring Board scheme, Mr. Udayan Bakshi, Associate Director - Entrepreneurship, Department of Entrepreneurship and Innovation, highlighted the successful student ventures from SRM University-AP that has crossed 1Cr turnover.

SRM AP actively engage in business through the local community.

This collaboration will further strengthen the MSME sector, stated University Registrar Dr. R Premkumar, signing the MoU.

Speaking on the occasion, Sri N K Sharma GM - MSME Indian Bank expressed his delight in collaborating with SRM University-AP along with other premier institutes like IITs and IIMs across the country.

Sri C D Ramarao - Zonal Manager, Indian Bank, Guntur, described the genesis of the Ind Spring Board project and said Andhra Pradesh has a start-up-friendly ecosystem to nurture innovations.

Hatchlab Research Centre - the technology and livelihood business incubator of SRM University-AP facilitates the incubation of student startups. 10,000+ sq. ft., state-of-the-art incubator space and Seed Funding are provided to eligible student ventures.

40+ student startups, 200+ industry mentors, and $120,000 angel investment are peculiar to the conducive entrepreneurial environment of SRM University-AP.

Source : Business Standard

9 .

Which bank is the first bank to get listed its Payment Gateway platform on "TIN 2.0 platform" of the Income Tax Department?

A)

IndusInd Bank

B)

IDFC FIRST Bank

C)

South Indian Bank

D)

Federal Bank

Correct Answer : Federal Bank

Kerala-based "Federal Bank" has become country's first bank to list its Payment Gateway platform on the TIN 2.0 platform of the Income Tax Department.

This year, the TIN 2.0 platform went live on 1 July, and 'Payment Gateway' has been enabled. With this, TIN 2.0 platform taxpayers will get one more payment option and now make their payments with ease, using modes such as Credit/Debit Card, UPI, NEFT/RTGS and Internet Banking.

Federal Bank's Group President & Country Head – Wholesale Banking, Harsh Dugar opined that the bank is actively using digital as a key enabler of superior experience and transaction convenience..

Source : Mint

10 .

The Reserve Bank of India (RBI) on 3rd August 2022 imposed a monetary penalty of Rs 32 lakh on which Bank for non-compliance of norms related to classification of frauds?

A)

Indian Bank

B)

Allahabad Bank

C)

Canara Bank

D)

Punjab National Bank

Correct Answer : Indian Bank

The Reserve Bank of India (RBI) has, by an order dated August 03, 2022, imposed a monetary penalty of ₹32 Lakh (Rupees Thirty-two lakh only) on Indian Bank (the bank), for non-compliance with certain provisions of Reserve Bank of India (Fraud classification and reporting by commercial banks and select FIs) Directions 2016. This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with sections 46 (4) (i) and 51(1) of the Banking Regulation Act, 1949.

This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers..

Source : RBI

Banking - General Knowledge Questions