Latest Banking Dates General Knowledge(GK) Questions and answers

1 .

Which Bank has launched the 'HouseWorkIsWork' project, which provides possibilities for those who want to return to the workforce?

A)

SBI

B)

Axis Bank

C)

ICICI Bank

D)

HDFC Bank

Correct Answer : Option (B) - Axis Bank

Due to a low participation of urban educated women in the workforce, Axis Bank has launched the ‘HouseWorkIsWork’ project, which provides possibilities for those who want to return to the workforce. In an interview about the bank’s recent hiring initiative ‘HouseWorkIsWork,’ Axis Bank President and Head (HR) Rajkamal Vempati said, “The intent behind this initiative is to give these women the confidence that they are employable, that they have skills, and that they can fit in various job roles in a bank, and it is about getting these women back to work.”

2 .

Which bank has partnered with software company ToneTag for "VoiceSe UPI payments service"?

A)

Paytm Payments Bank

B)

Airtel Payments Bank

C)

NSDL Payments Bank

D)

India Post Payments Bank

Correct Answer : Option (C) - NSDL Payments Bank

ToneTag has partnered with NSDL Payments Bank and NPCI to launch its “VoiceSe UPI payments service” for feature phone users. This comes after the Reserve Bank of India has launched the UPI 123Pay facility that enables UPI payments for feature phone users. ToneTag is a sound-based proximity communication and payments service provider based in Bengaluru, Karnataka.

To access the “VoiceSe UPI payments service” feature phone users need to call on the IVRS number 6366 200 200. Every user can only proceed with the financial transaction through UPI PIN. They do not require internet connectivity or a smartphone for making payments. This is an all-inclusive technology that fills the gap in the existing financial ecosystem and brings many benefits to the customers.

3 .

Which Bank has releases booklet on modus operandi of financial frauds?

A)

RBI

B)

ADB

C)

SBI

D)

World Bank

Correct Answer : Option (A) - RBI

The Reserve Bank of India (RBI) on Monday(7th Mar 2022), released a booklet on modus operandi of financial frauds, titled ‘BE(A)WARE’, as a part of the public awareness initiative by its Consumer Education and Protection Department.

RBI, while enhancing customer convenience, furthered that “as the speed and ease of doing financial transactions has improved, the number of frauds reported in retail financial transactions has also gone up. Fraudsters have been using innovative methods to defraud the common and gullible people of their hard-earned money, especially the new entrants in the use of digital platforms who are not entirely familiar with the techno- financial eco-system.”

RBI claims that this booklet, which has been compiled from various incidents of frauds reported as also from complaints received at the offices of RBI Ombudsmen, provides information to those who are inexperienced, or not so experienced, in digital and electronic modes of financial transactions.

RBI’s Ombudsmen Offices and the Consumer Education and Protection Cells (CEPCs) also revealed that sharing of confidential information by the customers, knowingly or unknowingly, is one of the major causes leading to financial fraud.

India’s central bank describes that this “booklet is intended to create awareness among the members of public about the modus operandi adopted by fraudsters to defraud and mislead them, while also informing them about the precautions to be taken while carrying out financial transactions.”

Source : Business Today

4 .

What is the name of the new payments service launched by RBI?

A)

123Pay

B)

129Pay

C)

157Pay

D)

234Pay

Correct Answer : Option (A) - 123Pay

RBI Governor "Shaktikanta Das" launched a new UPI payments service for feature phones named UPI 123Pay on March 8, 2022. The UPI payments gateway involves a three-step method to initiate and execute services for users.The service will benefit an estimated 40 crore feature phone users and enable them to undertake digital payments in a secure manner.

5 .

RBI is observing the Digital Payments Awareness Week (DPAW) 2022 from March 7 to 11, 2022. What is the theme of the celebrations?

A)

Go Digital, Go Secure

B)

Smarter Digital Payments

C)

Unified Payments Interface

D)

Outreach and Availability of Digital Payments

Correct Answer : Option (D) - Outreach and Availability of Digital Payments

The Reserve Bank of India will observe Digital Payments Awareness Week (DPAW) from March 7-11, 2022.

The theme of Digital Payments Awareness Week (DPAW) 2022 is: “Outreach and Availability of Digital Payments”.

6 .

What amount of loan has been sanctioned by Axis Bank for India's healthcare sector, under SAMRIDH facility?

A)

USD 100 million

B)

USD 150 million

C)

USD 175 million

D)

USD 200 million

Correct Answer : Option (B) - USD 150 million

Axis Bank on Thursday(3rd March 2022) said it has committed a USD 150 million (about Rs 1,140 crore) loan for strengthening the healthcare infrastructure in the country in association with IPE Global, in the aftermath of the pandemic.

The continued threat of new variants has reinforced the need to boost investments and partnerships in the health sector.

Axis Bank has committed to strengthening India's healthcare infrastructure by signing an MoU with IPE Global for the SAMRIDH Healthcare Blended Finance Facility, the bank said in a release.

"Under this partnership, Axis Bank will provide affordable finance of up to USD 150 million through SAMRIDH, to support health enterprises and innovators who would otherwise not have access to affordable debt financing," said the country's third largest private sector bank..

Source : Business Standard

7 .

Who is announced the signing of a co-lending agreement with Union Bank of India for financing to Micro, Small and Medium Enterprise (MSME) customers?

A)

Buoyant Capital

B)

Pipara & Co LLP Mumbai

C)

Ambit Finvest Private Limited

D)

Boyden India Advisory Services LLP

Correct Answer : Option (C) - Ambit Finvest Private Limited

Ambit Finvest Private Limited, the systematically important Non-Deposit taking Non-Banking Financial Company (NBFC) of the Ambit Group has signed a co-lending agreement with Union Bank of India (UBI) for lending to Micro, Small and Medium Enterprise (MSME) customers.

Shri Lal Singh, CGM, MSME, Union Bank said, “The partnership with Ambit Finvest Pvt Ltd. is part of UBI’s strategy to bring synergy between both the companies that will help us serve the most deserving and underserviced businesses. This initiative is a part of Union Bank’s commitment to support the MSMEs by providing tailor-made financial solutions and accelerating the growth of MSMEs to contribute to the country’s economic development.”

Sanjay Dhoka, COO & CFO, Ambit Finvest said that Ambit Finvest is delighted to be partnering with Union Bank of India, in increasing the reach of credit to service the needs of the MSME segment. With this alliance, Ambit Finvest and Union Bank of India aim to facilitate speedy disbursal of credit across different geographies.

This alliance will ensure underwriting for originations, positively impacting the creditworthiness of MSMEs, in 11 states that are currently covered by Ambit Finvest. Many MSMEs face challenges of higher interest rates or are excluded from access to banking services. Through this innovative model of lending, MSMEs will now enjoy a blended lower rate of interest, translating into a lower cost of funds, helping them deploy capital more effectively in their business..

Source : IBS Iintelligence

8 .

Which Bank launches "Project Banksakhi" in Odisha?

A)

SBI

B)

ICICI Bank

C)

Indian Bank

D)

Bank of Maharashtra

Correct Answer : Option (D) - Bank of Maharashtra

Public sector lender, Bank of Maharashtra (BoM) has announced the launch of “Project Banksakhi” in Odisha in collaboration with Mahagram & Sunivesh India Finance Services Pvt. Ltd. for Online Bank Account opening. It will provide doorstep and hassle-free access to the people of Odisha for opening bank accounts. The people of Odisha using our innovative customer-friendly financial services and best in class customer experience across digital and physical touchpoints.

Bank of Maharashtra has been catering to the banking needs of customers offering a spectrum of banking products and financial services covering Retail, Agri and MSME sectors to its more than 2 crore customers. Apart from its physical delivery channels, the bank offers various digital platforms like mobile banking, internet banking, AEPS, ATM-Debit Card, 24×7 customer care centre for accessing uninterrupted banking services to its customers.

9 .

Which Bank has launched the "Union MSME RuPay Credit Card" in association with the National Payments Corporation of India (NPCI)?

A)

ICICI Bank

B)

HDFC Bank

C)

IndusInd Bank

D)

Union Bank of India

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

The Union Bank of India has launched the ‘Union MSME RuPay Credit Card’ in association with the National Payments Corporation of India (NPCI). It is a first of its kind initiative in the industry, to provide simplified and digital delivery of Finance to Micro, Small & Medium Enterprises (MSMEs), to meet their business-related operational expenses.

The dedicated card for MSMEs will be available to eligible borrowers of the Union Bank of India. The Union MSME RuPay Credit Card was launched by Union Minister for Micro, Small & Medium Enterprises, Shri Narayan Rane on February 25, 2022, at the two days MSME Conclave being held in Sindhudurg district of Maharashtra.

10 .

Which bank has announced a US Dollar/Rupee two-year sell-buy swap auction?

A)

Reserve Bank of India

B)

Standard Chartered Bank

C)

Bank of America Corp

D)

JPMorgan Chase Bank

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

Reserve Bank of India’s announcement to undertake a sell/buy swap auction of $5 billion next month will likely help in leveling the rupee liquidity ahead of the expected behemoth IPO of Life Insurance Corp of India, which could lead to a gush of US dollar inflows, experts say. Through the auction, RBI will conduct a spot sale to sell $5 billion worth of US dollars to banks on March 10, 2022 in exchange of rupees, and will make a forward purchase from banks in two years on March 11, 2024. In effect, this will reduce RBI’s current foreign exchange reserves, while increasing its two-year forward USD purchases.

“Every action from a central bank has impact at two levels – direct and indirect. While direct impact is clear and can be easily interpreted (on forward premium and rupee liquidity), it is the indirect one, which makes the difference for market participants. And to our mind, the bigger and indirect objective of RBI is to create room for itself ahead of LIC IPO, to intervene in FX market, if there is some large inflows,” Kotak Securities said in a note Tuesday. As of February 20, the banking system has a surplus liquidity of Rs 6.96 crore.

Source : Financial Express