Latest Banking Dates General Knowledge(GK) Questions and answers

1 .

Which bank to buy 12.19% stake in Paysprint Pvt Ltd?

A)

Fino Payments Bank

B)

IndusInd Bank

C)

Punjab National Bank

D)

Airtel Payments Bank

Correct Answer : Option (A) - Fino Payments Bank

Fino Payments Bank announced that its board of directors has approved a 12.19 percent minority strategic investment in New Delhi-based fintech Paysprint Pvt Ltd. Fino Payments Bank is making its first strategic investment since becoming public. This is in addition to the bank’s Fino 2.0 projects, which include many internal programmes aimed at creating a digital ecosystem for its customers.

About Paysprint :

* Paysprint, a profitable fintech, is a fast-growing financial technology firm that provides next-generation application programming interfaces (APIs) in banking, payments, travel, lending, insurance, and investment, among other fields.

* Paysprint’s co-founder and CEO, S Anand, said the fintech company is excited to collaborate with Fino Payments Bank and combine technical knowledge to develop innovative banking products and solutions that will increase consumer acceptance.

* Paysprint completed its first full year of operations in FY22, with an annual GMV of Rs 5,500 crore.

* In FY23, the robust growth pace is likely to continue. During the year, it also onboarded over 600 partners from banks, NBFCs, MSMEs, fintech, and other start-ups.

2 .

Which bank Launches Digital Platform, FYN Portal?

A)

State Bank of India

B)

Kotak Mahindra Bank

C)

IDFC FIRST Bank

D)

Punjab National Bank

Correct Answer : Option (B) - Kotak Mahindra Bank

Kotak Mahindra Bank (KMBL) has launched Kotak FYN, a new enterprise platform designed specifically for Business Banking and Corporate clients. Customers of the bank can utilise the portal to conduct all trade and service transactions.

Main Points of Kotak FYN :

* According to a press release, the Kotak FYN portal will contain many other services by the fourth quarter of 2022, including account services, payments, and collections.

* The portal will also have a dashboard that consumers can personalise, real-time tracking of transaction limits, access to prior transactions, and upcoming transaction events, among other things.

* It also promises to deliver a tailored experience in small steps with system stability.

3 .

Which financial lender has approved loan worth US$ 2 million to support designing climate resilient urban infrastructure, strengthening institutional capacity and improving municipal resource mobilisation in Nagaland?

A)

World Bank

B)

Asian Development Bank (ADB)

C)

New Development Bank (NDB)

D)

Asian Infrastructure Investment Bank (AIIB)

Correct Answer : Option (B) - Asian Development Bank (ADB)

The Asian Development Bank (ADB) and the Government of India have inked $2 million Project Readiness Financing (PRF) loan agreement on April 12, 2022.

4 .

How much stake will Bank of Maharashtra withdraw in ISARC?

A)

13 percent

B)

7 percent

C)

4 percent

D)

2 percent

Correct Answer : Option (C) - 4 percent

Public sector lender Bank of Maharashtra on Thursday(7th Apr 2022) said it will divest its entire stake of 4 percent in India SME Asset Reconstruction Company(ISARC) for nearly Rs 4 crore. Bank of Maharashtra (BoM) has executed a share purchase agreement dated April 6, 2022 for sale of entire equity stake of 4 per cent in India SME Asset Reconstruction Company Ltd (ISARC), the bank said in a regulatory filing.

The bank's 4 percent stake, equivalent to 40,00,000 equity shares, will be sold at Rs 9.80 per share for a cash consideration for Rs 3.92 crore, it said.

The stake sale is subject to RBI approval for change in sponsor shareholder of ISARC. The transaction is expected to be completed by the end of December, 2022.

ISARC's total income stood at Rs 11.09 crore in the fiscal ended March 2021, and net profit was Rs 0.36 crore. It had reported losses of Rs 8.39 crore in FY20 and Rs 9.21 crore in FY19.

Source : Economic Times

5 .

Who has been introduced "Vikas Siri Sampat-1111" scheme?

A)

Canara Bank

B)

Bank of India

C)

Kerala Gramin Bank

D)

Karnataka Vikas Grameena Bank

Correct Answer : Option (D) - Karnataka Vikas Grameena Bank

Karnataka Vikas Grameena Bank (KVGB), a Dharwad-based regional rural bank, has launched a 1,111-day deposit scheme.

Main Points :

* P Gopi Krishna, the Chairman, revealed that the 1,111-day deposit pays 5.70 percent interest to the general public and 6.20 percent to senior citizens during the introduction of the 'Vikas Siri Sampat-1111' scheme in Dharwad.

* A minimum deposit of ten thousand rupees and a maximum deposit of two crore rupees are allowed under this scheme.

* According to Gopi Krishna, customers should take advantage of the cheaper interest rate while it lasts because it is only available for a limited time.

* He said the bank's goal is to encourage consumers to conserve money, and he expects a strong response throughout the current fiscal year.

* In 2021-22, the bank's total revenue was Rs 30,750 crore. Deposits totaled Rs 17,647 crore, with advances amounting to Rs 13,103 crore.

6 .

IndusInd Bankâ€™s 'Indus Merchant Solutions' App won ______ Awards 2022.

A)

Digital CX

B)

Digital DX

C)

Digital AI

D)

Digital IOT

Correct Answer : Option (A) - Digital CX

‘Indus Merchant Solutions’, a mobile app for merchants of IndusInd Bank, got the Digital CX Awards 2022 for ‘Outstanding Digital CX – SME Payments’. The Digital CX Awards is organized by Digital Banker, a globally trusted financial news service provider. Indus Merchant Solutions being adjudged as a winner is a testament to its strength in offering customers a seamless banking experience, which aligns with the Bank’s ethos of ’customer-centricity.

About the ‘Indus Merchant Solutions’ : ‘Indus Merchant Solutions’ was launched in November 2021. It is a mobile application (app) to enable merchants, retailers, and professionals to various facilities such as Accepting instant cashless payments through multiple digital modes, Tracking inventory via in-built dashboards, Apply for an exclusive Point of Sale (POS) machine to facilitate card-based payments, Avail small ticket business loans from the Bank, etc.

About the Digital CX Awards : The Digital CX Awards is organised by Digital Banker, a globally trusted financial news service provider that recognises the world’s leading Financial Services Organisations (FSO) that blend the best of technology, and innovation, with the power of their people to provide a superior customer experience and reinvent their industry. This year, the awards received over 600 submissions from 127 marquees FSOs across the globe.

7 .

RBI has recently imposed monetary penalty of Rs 93 lakh on which of these banks?

A)

ICICI Bank

B)

Yes Bank

C)

HDFC Bank

D)

Axis Bank

Correct Answer : Option (D) - Axis Bank

The Reserve Bank of India has imposed a penalty of Rs 93 lakh each on Axis Bank and IDBI Bank for non-compliance of certain directions issued by RBI.

8 .

RBI has kept key policy rates unchanged in the first MPC meeting for 2022-23. Which means that the Reverse Repo Rate has been kept unchanged at ________ percent

A)

3.10%

B)

3.35%

C)

4.00%

D)

4.50%

Correct Answer : Option (B) - 3.35%

Reserve Bank of India has kept the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 4.0 percent. Various rates are as under :

Policy Repo Rate : 4.00%

Reverse Repo Rate : 3.35%

Marginal Standing Facility Rate : 4.25%

Bank Rate : 4.25%

CRR : 4.00%

SLR : 18.00%

9 .

RBI has approved the re-appointment of Murli M Natarajan as the MD and CEO of which bank?

A)

RBL Bank

B)

CSB Bank

C)

DCB Bank

D)

IDBI Bank

Correct Answer : Option (C) - DCB Bank

The Reserve Bank of India (RBI) has approved an extension in the tenure of "Murli M Natarajan" as the managing director and chief executive officer (MD & CEO) of DCB Bank for a period of two years.

10 .

Which Bank launches super-app UnionNXT and digital project SAMBHAV?

A)

Union Bank of India

B)

HDFC Bank

C)

State Bank of India

D)

Punjab National Bank

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

Union Bank of India has launched its super-app named "UnionNXT" and digital transformation project SAMBHAV, with an investment outlay of around Rs 1,000 crore for the current financial year 2022-23 (FY23). The public sector lender expects recovery from the spending in two years and aims to have 50 per cent of business originating on the digital platform by 2025.

A banking super-app essentially combines a number of services, such as payments, online shopping, bill payments, recharges, investment, loans, and fund transfer, on a single platform. UBI’s super-apps is similar to the super-apps by other large lenders such as State Bank of India’s Yono, Bank of Baroda’s Bob world and HDFC Bank’s PayZapp and ICICI Bank’s iMobile.