Latest Banking Dates General Knowledge(GK) Questions and answers

1 .

Who has directed banks and ATM operators to provide card less cash withdrawal facilities at all ATMs?

A)

State Bank of India

B)

Union Bank of India

C)

Indian Bank

D)

Reserve Bank of India

Correct Answer : Option (D) - Reserve Bank of India

* Reserve Bank of India (RBI) has directed banks and ATM operators to provide cardless cash withdrawal facilities at all ATMs.

* All banks, automated teller machine (ATM) networks, and White Label ATM Operators (WLAOs) may provide the option of ICCW at their ATMs.

* The National Payments Corporation of India (NPCI) has been advised to facilitate Unified Payments Interface (UPI) integration with all banks and ATM networks.

Source : News On Air

2 .

Which bank has approved USD 350 million as financial assistance for the Systems Reform Endeavors for Transformed Health Practices in Gujarat (SRESTHA-G) project?

A)

World Bank

B)

Reserve Bank of India

C)

Asia Development Bank

D)

European Central Bank

Correct Answer : Option (A) - World Bank

The World Bank has approved 350 million dollars aid for the Systems Reform Endeavors for Transformed Health Achievement in Gujarat -(SRESTHA-G) project.

According to official sources, the SRESTHA-G project will be a 500 million dollars project with 350 million dollars support coming from the World Bank. The project will include transforming key health delivery systems in the state.

According to the official release, the programme will focus on four key result areas to improve quality, equity, and comprehensiveness of primary healthcare, services for adolescent girls and the capacity of disease surveillance systems.

Source : News On Air

3 .

Which bank has appointed Sitikantha Pattanaik and Rajiv Ranjan as Executive Directors in May 2022?

A)

State Bank Of India

B)

Reserve Bank of India

C)

Indian Bank

D)

Union Bank of India

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

* The Reserve Bank on Friday(13th May 2022) said Sitikantha Pattanaik and Rajiv Ranjan have been appointed as executive directors with effect from May 1st, 2022.

* Ranjan will also serve as an ex-officio member of the rate-setting panel Monetary Policy Committee (MPC).

* Prior to being promoted as ED, Pattanaik was an Adviser in the Department of Economic and Policy Research (DEPR), while Ranjan was serving as Adviser-in-Charge of Monetary Policy Department and Secretary to the MPC.

* RBI said as Executive Director (ED), Pattanaik will look after the Department of Economic and Policy Research, while Ranjan will take care of the Monetary Policy Department.

* Ranjan has a PhD in economics from Mumbai University and holds a Masters degree in economics from the Delhi School of Economics.

* Pattanaik has a PhD in economics from the University of Mumbai..

Source : Business Standard

4 .

Reserve Bank of India has imposed a penalty of Rs_____ lakh on the Korean bank, KEB Hana Bank.

A)

Rs 27 lakh

B)

Rs 59 lakh

C)

Rs 68 lakh

D)

Rs 93 lakh

Correct Answer : Option (B) - Rs 59 lakh

RBI on Friday(13th May 2022) said it has imposed a penalty of Rs 59 lakh on KEB Hana Bank for non-compliance with the certain norms related to 'interest rate on deposits'.

The Korean bank has been penalised for non-compliance with the directions issued by RBI on "Reserve Bank of India (Interest Rate on Deposits) Directions, 2016".

The statutory inspection for supervisory evaluation of KEB Hana Bank was conducted by RBI with ereference to its financial position as on March 31, 2020.

RBI, however, said the penalty 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 : Economic Times

5 .

Which bank has launched an online platform, 'Trade nxt', which enables corporate, and MSMEs?

A)

Canara Bank

B)

State Bank Of India

C)

Union Bank of India

D)

Reserve Bank of India

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

Union Bank of India 12th May 2022, announced the launch of ‘Trade nxt’, an online platform for providing comprehensive cross border trade finance services to Indian exporters and importers. It offers seamless entry and processing of Letters of Credit (LC), bank guarantees, export/import bills, disbursement of export credit, outward and inward remittances, dealer financing and much more.

‘Trade nxt’ is a next generation digital banking platform that enables all corporates as well as MSMEs to transact all the cross border export-import transactions in a hassle-free way as it offers an array of services in one place. It eliminates the need for companies to visit a bank branch to initiate a trade transaction and ensures better governance with enhanced security and controls. Companies can now initiate a transaction from the comfort of their place 24/7 in a safe and secure manner.

‘Trade nxt’ platform will also enable the regulatory online auto reporting through Import Data Processing & Monitoring System (IDPMS), Export Data processing & Monitoring System (EDPMS) and other statutory reporting pertaining to ODI/ FDI/ LRS transactions, which will make the process much more convenient.

The Ministry of Electronics & Technology recently felicitated Union Bank of India for achieving highest percentage of digital payments transactions under the category of large and medium banks at “Digital Payment Utsav”..

Source : Business World

6 .

Which Bank ties up with Santander for India-UK business ease?

A)

ICICI Bank

B)

HDFC Bank

C)

RBL Bank

D)

Federal Bank

Correct Answer : Option (A) - ICICI Bank

One of India's leading private sector banks, ICICI Bank, on Tuesday(10th May 2022) announced a tie-up with Santander bank in Britain in a pact aimed at facilitating the banking requirements of corporates operating across both countries.

The memorandum of understanding (MoU) between ICICI and Santander UK Plc, signed in Mumbai, is designed to establish a framework of partnership between the banks to meet the financial service requirements of corporate customers operating within the India-UK corridor.

ICICI Bank said it will provide banking solutions across trade, cross-border payments, supply chain, treasury solutions and retail banking to the UK corporates operating in India and Santander UK will support Indian corporates and new age businesses for their banking requirements in the UK..

Source : Economic Times

7 .

Who is announced the New Repatriate Welfare Scheme, a Repco Bank deposit scheme, a RFML micro finance lending scheme?

A)

Nisith Pramanik

B)

Om Prakash Rajbhar

C)

Nirmala Sitharaman

D)

Ajay Kumar Mishra

Correct Answer : Option (D) - Ajay Kumar Mishra

Union Minister of State for Home Affairs "Ajay Kumar Mishra" has launched New Repatriate Welfare Scheme, a deposit scheme of Repco Bank, a micro finance loan scheme and an app for Repco Micro Finance Ltd. (RFML) in Chennai.

Repco Bank chairman E. Santhanam, Managing Director R.S. Isabella and Board of Directors were present.

“Repco Subiksham” provides a new deposit scheme for senior citizens. It is a retail deposit scheme meant for senior citizens (aged above 60) and super senior citizens (age above 80), an official release said. “Interest rate is at 7.15% for senior citizen and 7.25% for super senior citizen”, it said..

Source : The Hindu

8 .

Which Bank launches digital 30-minute 'Xpress Car Loans'?

A)

Axis Bank

B)

ICICI Bank

C)

HDFC Bank

D)

Kotak Mahindra Bank

Correct Answer : Option (C) - HDFC Bank

HDFC Bank, a private sector lender, has introduced 30-minute ‘Xpress Car Loans’, an end-to-end digital new car loan solution for both existing and non-customers. The bank has integrated its lending application with automobile dealers throughout India. It is the industry’s first automotive lending experience, and it is expected to change the way automobile financing is done in India.

Main Points of "Xpress Car Loans" :

* The facility will be offered at all of the bank’s branches, dealerships, and, eventually, on third-party aggregator platforms.

* This comprehensive, faster, more convenient, and inclusive digital journey for car buyers will simplify the automobile purchase process and boost car sales across India, particularly in semi-urban and rural locations.

* As it has integrated its lending application with vehicle dealers across India, it anticipates 20%–30% of clients to use this loan facility of up to Rs. 20 lakhs.

* Currently, the facility is only available for four-wheelers, and it will be gradually extended to include two-wheeler loans.

Source : The Hindu Business Line

9 .

Who is approves the merger of Equitas SFB, Equitas Holdings?

A)

Asia Development Bank

B)

Reserve Bank of India

C)

Union Bank of India

D)

State Bank Of India

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

Equitas Small Finance Bank and the parent Equitas Holdings Ltd on Friday(6th May 2022) said that the Reserve Bank of India has given its no-objection to their proposal of amalgamation, subject to conditions.

"We would like to inform that RBI in its letter dated May 6, 2022 has conveyed its no-objection to our proposal for voluntary amalgamation of EHL (Equitas Holdings Ltd) with ESFB (Equitas Small Finance Bank)," they said in their stock exchange filings.

The RBI no-objection comes with conditions.

The merger is being effected to comply with the RBI norms on small finance banks, mandating the promoter to reduce the stake in the subsidiary to 40 per cent within five years of commencement of operations by the SFB (Small Finance Bank).

Source : Business Standard

10 .

Which Bank launches digital broking solution in May 2022?

A)

SBI

B)

Indian Bank

C)

Canara Bank

D)

Union Bank of India

Correct Answer : Option (B) - Indian Bank

Public sector Indian Bank has unveiled digital broking solution -- E-Broking -- allowing customers to open a demat and trading account facility, in line with the digitalisation mission of the bank, an official said on Saturday(7th May 2022). The launch of digital broking solution 'E-Broking' was a strategic step towards complete digitalisation of its offerings to customers, a bank statement said.

"E-Broking, an instant and paper-less demat and trading account opening is integrated in the bank's mobile banking application," it said.

IndOASIS, the bank's mobile banking application, would offer customers, a seamless experience from demat and trading account opening to discounted broking services backed by research based investment in the secondary market starting from equity, futures, options, and initial public offerings in a single platform, it said.

"This is a key initiative in line with our digitalisation mission to provide all financial products and services to our customers in an affordable manner under one roof," the bank's executive director, Ashwani Kumar said.

"This will also help the bank to increase its CASA (current account, savings account)...," he said.

The bank said the initiative also enables its customers to invest in the ongoing LIC Initial Public Offering seamlessly.

Source : Business Today