Banking - General Knowledge Questions

Correct Answer :   Union Bank of India

Union Bank of India has become the first major Indian bank to join the Partnership for Carbon Accounting Financials (PCAF), a global initiative focused on assessing and disclosing greenhouse gas emissions linked to financial institutions' loans and investments.

This move aligns with the Reserve Bank of India's new draft guidelines on climate-related financial risk disclosures, issued in February 2024. By joining PCAF, the Union Bank of India is taking a proactive step in managing financed emissions and enhancing its climate risk strategy.

Correct Answer :   Union Bank of India

Union Bank of India has become the first major Indian bank to join the Partnership for Carbon Accounting Financials (PCAF), a global initiative that provides a standardized framework for assessing and disclosing greenhouse gas emissions linked to financial services.

This move aligns with the Reserve Bank of India's (RBI) draft guidelines on climate risk disclosures, highlighting the bank's commitment to tracking and managing financed emissions. By joining PCAF, the Union Bank of India will take a significant step towards promoting sustainable finance and reducing its carbon footprint.

Correct Answer :   HDFC Bank

HDFC Bank has introduced GIGA, a comprehensive financial suite tailored for gig workers in India.

This initiative includes savings and current accounts, specialized debit and credit cards, and affordable health insurance starting at Rs 20 per day.

GIGA is designed to address the unique financial needs of gig workers by offering a flexible savings account with low balance requirements and a business credit card that provides rewards and deals on essential services. This move highlights HDFC Bank's commitment to supporting the growing gig economy.

Correct Answer :   Bandhan Bank

Bandhan Bank introduced the Avni savings account for women on August 22, 2024, coinciding with its Foundation Day.

The Avni account is tailored for well-off women and requires a minimum average quarterly balance of ?25,000.

It offers exclusive benefits such as a debit card with free airport lounge access, personal accident insurance coverage, and discounts on various services.

The launch also included the Bandhan Bank Delights loyalty program, which rewards customers with Delight Points for banking activities, redeemable for various rewards.

Correct Answer :   Bandhan Bank

On August 22, 2024, Bandhan Bank, celebrating its Foundation Day, introduced Avni, a savings account tailored specifically for women. This launch is accompanied by the Bandhan Bank Delights loyalty program, designed to offer rewards, discounts, and exclusive benefits.

Avni Savings Account :

The Avni account caters to well-off women with a minimum average quarterly balance requirement of ?25,000. It includes an exclusive debit card with benefits such as free airport lounge access, personal accident insurance coverage of ?10 lakh, and lost card liability of ?3.5 lakh. Additional perks include discounts on annual locker rentals, gold loan processing fees, and beauty and wellness products.

Bandhan Bank Delights Loyalty Program :

Bandhan Bank Delights, the bank’s new loyalty initiative, allows customers to earn Delight Points through various banking activities, including account opening and card transactions. These points can be redeemed for rewards such as travel, merchandise, entertainment, and even converted to air miles.

Bank’s Strategic Focus :

The introduction of Avni aligns with the Reserve Bank of India’s recent call for banks to innovate in deposit mobilization. As CASA (Current Account Savings Account) deposits decline, Bandhan Bank’s strategy to offer attractive products like Avni aims to capture a larger share of household savings, which are increasingly invested in other financial instruments.

About Bandhan Bank: Key Points :

Foundation : Started as an NGO, became an NBFC-MFI, and received a universal banking license on August 23, 2015.

Headquarters : Kolkata, West Bengal.

Leadership : Interim MD and CEO is Ratan Kumar Kesh.

Tagline : “Aapka Bhala. Sabki Bhalai.”

Focus : Private-sector bank with a strong emphasis on financial inclusion and customer-centric products.

Correct Answer :   Punjab National Bank

Punjab National Bank (PNB) recently introduced the PNB ANTAH DRISHTI Braille Debit Card, specifically designed for visually impaired individuals.

This card, part of the RuPay network, supports contactless transactions, enhancing accessibility for its users.

Established in 1894, PNB is a major public sector bank in India, headquartered in New Delhi.

The introduction of this Braille Debit Card reflects PNB’s commitment to inclusivity and improving financial services for all customers.

Correct Answer :   Axis Bank

Axis Bank has launched the Primus credit card, designed as an ultra-premium offering for high-net-worth individuals.

This exclusive card comes with a Rs 5 lakh joining fee and a Rs 3 lakh annual fee, providing benefits such as luxury hotel stays, private jet access, and a personal concierge service.

Cardholders also earn EDGE miles, enjoy zero forex markup, and gain access to premium travel and lifestyle perks.

The introduction of this card underscores Axis Bank's focus on catering to affluent customers with high-end financial products.

Correct Answer :   DBS

Tan Su Shan has been appointed as the first female CEO of DBS, set to take over in March 2025.

With 35 years of experience in banking, including leadership roles at Morgan Stanley and Citigroup, Tan’s appointment marks a significant milestone for DBS.

She is the first "homegrown" leader to succeed the outgoing CEO Piyush Gupta, reflecting the bank's commitment to continuity and internal talent development.

Correct Answer :   Axis Bank

Setu, owned by Pine Labs, has launched the UPISetu platform in collaboration with Axis Bank.

UPISetu is designed to enhance the UPI payment ecosystem, offering a range of services such as QR code payments, Autopay, EMI options, and Third-Party Validation.

The partnership with Axis Bank underscores the bank's commitment to advancing digital payment solutions and supporting the digitization efforts of businesses in India.

Correct Answer :   Kotak Mahindra Bank

Kotak Mahindra Bank Ltd has partnered with tech firm GOQii to launch the Kotak – GOQii Smart Vital Plus smartwatch.

This innovative device, priced at INR 3499, combines contactless payments with health monitoring features, enabling seamless transactions up to INR 5000 without requiring a PIN.

The smartwatch also allows users to track vital health metrics and provides a user-friendly interface for easy access to payments, promoting a cashless, secure, and efficient lifestyle.