Latest Banking Dates General Knowledge(GK) Questions and answers

1 .

Which Bank approves USD 875 million for development in Brazil, China and India towards the Sustainable Development Goals?

A)

World Bank

B)

Asian Development Bank

C)

European Central Bank

D)

New Development Bank

Correct Answer : New Development Bank

The New Development Bank has approved USD 875 million for water, sanitation, ecotourism and transport.

Investments will support the Brazil, China and India towards the Sustainable Development Goals.

Brazil : $ 300 million for water supply and sewage collection

India : $ 79 million for the Meghalaya Ecotourism Infrastructure Development Project.

China : EUR 265 million for Lanzhou Zhongchuan International Airport and RMB 805 million for Xi’an Xianyang International Airport.

Source : The Print

2 .

To what percentage has RBI increased the minimum capital adequacy ratio (CAR) of Urban Cooperative Banks (UCBs)?

A)

12%

B)

13.7%

C)

14.2%

D)

14.6%

Correct Answer : 12%

The Reserve Bank of India has hiked the minimum capital adequacy ratio (CAR) for Urban Cooperative Banks (UCBs) with deposits above Rs 100 crore to "12 per cent" from the earlier floor of 9.0 per cent.

It has provided a glide path till March 2026 to meet revised CAR norm in phases for UCBs that don't meet it currently.

It has retained the norm of a minimum CAR of 9 per cent for tier-1 banks (those with deposits up to Rs 100 crore).

RBI in a statement said it has decided to adopt a simple four-tiered regulatory framework with differentiated regulatory prescriptions to strengthen the financial soundness of the existing UCBs. This is based on recommendations of a panel headed by N S Vishwanathan, former Deputy Governor set up in February 2021.

According to the data reported by the banks as on March 31, 2021, most UCBs have a CRAR of more than 12 per cent (1,274 lenders out of 1,534).

The Tier-2 banks are UCBs with deposits of more than Rs 100 crore and up to Rs 1,000 crore; Tier-3 are UCBs with deposits of more than Rs 1,000 crore and up to Rs 10,000 crore. The final layer, Tier-4. consists of banks with deposits exceeding Rs 10,000 crore..

Source : Business Standard

3 .

Which bank on 18th July 2022 said its board has approved a proposal to raise up to Rs 20,000 crore in debt on a private placement basis to fund its business growth?

A)

RBL Bank

B)

IDBI Bank

C)

IndusInd Bank

D)

IDFC FIRST Bank

Correct Answer : IndusInd Bank

IndusInd Bank on Monday(18th July 2022) said its board has approved a proposal to raise up to Rs 20,000 crore in debt on a private placement basis to fund its business growth. The capital adequacy ratio of the bank stood at 18.42% as on March 31, with tier-I capital being at 16.80% and tier-II capital at 1.62% as percentage of its risk-weighted assets.

“The board of directors of IndusInd Bank approved raising funds through debt securities in any permitted mode on a private placement basis as may be decided, for an aggregate amount not exceeding Rs 20,000 crore or its equivalent amount in such foreign currencies,” the lender said in an exchange filing.

The fund-raising plan is subject to the approval of its shareholders. The bank on July 12 said it would consider raising funds through debt. The bank is scheduled to detail its earnings for the first quarter of the current financial year on Wednesday. Last July, the bank had approved plans to raise Rs 30,000 crore through equity or debt..

Source : Financial Express

4 .

Which Bank has launched a co-branded credit card with EaseMyTrip to offer exclusive travel benefits with instant discounts and reward points to cardmembers?

A)

Union Bank of India

B)

State Bank of India

C)

Central Bank of India

D)

Standard Chartered Bank

Correct Answer : Standard Chartered Bank

Standard Chartered Bank 19th July 2022 announced the launch of a co-branded credit card with EaseMyTrip, the second largest online travel tech platform in India. The ‘EaseMyTrip Standard Chartered Credit Card’ offers exclusive travel benefits with instant discounts and reward points to cardmembers, making it the most rewarding travel credit card.

This credit card provides flat 20% instant discount on domestic & international hotel bookings; flat 10% instant discount on domestic & international flight bookings on EaseMyTrip website or mobile application. Cardmembers can also earn accelerated reward points on flight, hotel bookings at standalone airlines and hotel websites/apps. Reward points earned can be redeemed on the rewards catalogue of Standard Chartered Bank, across multiple brands including EaseMyTrip.

A leading benefit of the card is that cardmembers will have access to instant discount benefits on flights and hotels throughout the year on the EaseMyTrip website/mobile application. Also, cardmembers will get one domestic lounge access per calendar quarter and two international lounge accesses per year. Additionally, cardmembers can also enjoy periodic promotional offers and discounts on the EaseMyTrip website/ mobile application..

Source : Financial Express

5 .

RBI has imposed restrictions on Mumbai-based _______ bank, Raigad Sahakari Bank.

A)

Citibank

B)

Cooperative bank

C)

Canara bank

D)

Indian bank

Correct Answer : Cooperative bank

RBI has imposed restrictions on Mumbai-based cooperative bank, Raigad Sahakari Bank.

Reason : Worsening of financial situation of the lender.

The restrictions also include a withdrawal limit of Rs 15,000 per customer and it will remain in force for a period of six months.

RBI has also imposed a penalty of Rs 6 lakhs on Shri Chhatrapati Rajarshi Shahu Urban Co-operative Bank Limited for contravention of provisions related to 'Frauds - Classification and Reporting'..

Source : India Times

6 .

Launch of WhatsApp banking service by Which bank?

A)

Indian Bank

B)

State Bank of India

C)

Central Bank of India

D)

Union Bank of India

Correct Answer : State Bank of India

In a move to make banking easier for its customers, India’s largest public sector lender, State Bank of India or SBI has launched its WhatsApp Banking services, it said in a Twitter post. SBI customers can avail certain banking services from the lender using WhatsApp, which may come in handy for many as they do not have to download the app or go to the ATM anymore. This comes days after SBI chairman Dinesh Khara had revealed plans of the bank going the WhatsApp way.

SBI WhatsApp Banking services will be available to customers when they send a message saying ‘Hi’ on the number +919022690226, the bank said in the tweet. During a press meet o July 1, Khara had announced that SBI would launch its WhatsApp Banking services for customers soon but did not provide any details on to what services will be available. However, we now know after the launch that what services the customers can avail.

Step 1 : If you have not registered your account, you need to provide your consent first to get SBI banking services on WhatsApp with the number provided by the bank. An unregistered customer will receive the following message: You are not registered for SBI WhatsApp Banking services. To register and provide your consent for using these services, kindly send the following SMS WAREG A/c No to 917208933148 from your Registered Mobile No with the Bank. You can view the detailed T&C for these services on bank.sbi

Step 2 : Once you have registered, type ‘Hi’ SBI on the number +919022690226 or reply to the message you have received on WhatsApp saying “Dear Customer, You are successfully registered for SBI WhatsApp Banking services."

Step 3 : Once you have sent your message, you will receive this reply:

Dear Customer,

Welcome to SBI Whatsapp Banking Services!

Please choose from any of the options below.

1. Account Balance

2. Mini Statement

3. De-register from WhatsApp Banking

You may also type your query to get started.

Step 4 : Choose from options 1 or 2 to check your account balance or get a mini statement of your last five transactions. You can also choose Option 3 if you want to de-register from SBI WhatsApp Banking.

Step 5 : Your account balance or mini statement will be displayed as per your choice. You can also type in your query if you have any.

State Bank of India also offers WhatsApp-based services to its credit card holders through the platform under the name of SBI Card WhatsApp connect. Through this, SBI credit card customers can check their account summary, reward points, outstanding balance, make card payments and more..

Source : News18

7 .

Which bank named "World's Best SME Bank" by Euromoney for second time?

A)

DBS bank

B)

Citibank

C)

POSB Bank

D)

United Overseas Bank

Correct Answer : DBS bank

Development Bank of Singapore Limited (DBS Bank) has been recognized as the ‘World’s Best SME Bank’ by Euromoney for the second time (the first time in 2018). The bank has established its position as a global industry leader in association with Small to Medium Enterprises (SMEs) to enhance growth and development.

DBS’ latest global best SME bank accolade comes from leading UK-based financial publication Euromoney, which has honoured DBS with the ‘World’s Best SME Bank’ title for the second time since 2018..

Source : PR Newswire

8 .

Which first private sector bank becomes to integrate with new Income Tax portal in July 2022?

A)

Axis Bank

B)

ICICI Bank

C)

Kotak Mahindra Bank

D)

HDFC Bank

Correct Answer : Kotak Mahindra Bank

Kotak Mahindra Bank has announced the successful integration of its recently-launched(july 2022) e-filing portal – eportal.incometax.gov.in. With this integration, it has become one of the first private sector banks to be integrated for direct tax payments.

According to a press release by the bank, this integration will allow both individuals and corporates to conveniently pay their direct taxes online through the e-pay tax tab.

After submitting the required data for tax filing, they will be redirected to the bank’s Netbanking platform. Alternatively, they can also approach the nearest branch to complete the process. The aim is to make the tax-payment process “simple, instant and convenient”, the bank said.

Dipak Gupta, joint managing director, Kotak Mahindra Bank said that with this facility, they have become one of the first banks to offer a direct taxes payment ecosystem across all channels..

Source : Outlookindia

9 .

The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1.67 crore on which Financial Services Private Limited?

A)

Ujjivan Financial Services Private Ltd.

B)

Mahindra Financial Services Private Ltd.

C)

SREI Infrastructure Finance Private Ltd.

D)

Ola Financial Services Private Ltd

Correct Answer : Ola Financial Services Private Ltd

The Reserve Bank of India (RBI) on Tuesday(12th July 2022) fined Ola Financial Services Private Ltd over Rs 1.67 crore (Rs 1,67,80,000) for non-compliance of regulations.

Announcing the penalty of Rs 1,67,80,000, the RBI said Ola Financial Services did not comply with its Know Your Customer direction.

The penalty has been imposed in exercise of powers vested in the central bank under Section 30 of the Payment and Settlement Systems Act, 2007.

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

According to it, Ola Financial Services was non-compliant with the directions issued by the RBI on KYC requirements.

Accordingly, notice was issued to the entity advising it to show cause as to why penalty should not be imposed for non-compliance with the directions, the RBI said..

Source : Businessinsider

10 .

Which Bank and IMGC tie up for mortgage guarantee-backed home loans?

A)

SBI

B)

Canara Bank

C)

Indian Bank

D)

RBL Bank

Correct Answer : RBL Bank

India Mortgage Guarantee Corporation (IMGC) on Wednesday(13th July 2022) announced its strategic partnership with RBL Bank to offer mortgage guarantee-backed home loan products to salaried and non-salaried customers.

This partnership with IMGC will help RBL Bank extend mortgage guarantee-backed home loans to new borrower segments through the bank’s network of over 500 branches across the country, IMGC said in a statement.

The alliance would enable a compelling value proposition for its customers and help create a conducive lending environment for early home ownership by ensuring timely disbursal of housing credit and longer tenure to customers, it said.

The tie-up has been designed in a manner to address the needs of a wide range of customers through varied products, it said.

Private player IMGC provides mortgage guarantee to lenders for home loans. It has provided guarantee to more than 85,200 home loans amounting to more than Rs 15,400 crore through its partnership with 23 lenders, including banks and housing finance companies..

Source : Financial Express

Banking - General Knowledge Questions