Latest Banking Dates General Knowledge(GK) Questions and answers

1 .

Who has elected to Board of New York Federal Reserve Bank in 2022?

A)

Satya Nadella

B)

Thierry Delaporte

C)

Rajesh Gopinathan

D)

Arvind Krishna

Correct Answer : Arvind Krishna

* Arvind Krishna (IBM Chairman and CEO) has been elected to the Board of Directors as a Class B director of the Federal Reserve Bank of New York.

* He will remain in the office for the remaining portion of a three-year term ending December 31, 2023.

* He has been an undergraduate from the Indian Institute of Technology, Kanpur and a PhD from the University of Illinois at Urbana-Champaign.

* He was senior VP of Cloud and Cognitive Software and also headed IBM Research.

Source : Business Today

2 .

Which Bank joins Headstart and Anthill to support startups?

A)

SBI

B)

HDFC

C)

DBS

D)

ICICI

Correct Answer : DBS

* DBS Bank India has partnered with Anthill Ventures (startup venture capital fund) and Headstart Network Foundation (evangelist network) to launch DBS Business Class foundED in April 28, 2022.

* This forum will help modern-day founders, innovators, and game-changers to foster co-innovation and collaboration in the startup ecosystem.

* The first event of DBS BusinessClass foundED was held in Hyderabad with actor "Rana Daggubati".

Source : Ani News

3 .

Who is ties-up with Yes Bank to push financial inclusion?

A)

Rozpay

B)

PayPal

C)

PayU Money

D)

FidyPay

Correct Answer : FidyPay

* FidyPay (fintech API platform) has joined hands with Yes Bank to expand the digital facility to a wide range of enterprises, including SMEs, fintech companies, and start-ups.

* The fintech platform will provide Yes Bank customers with a smooth connected banking experience as part of the partnership.

* FidyPay will also serve as UPI services solution provider.

* FidyPay is backed by Mr. Pratekk Agarwal (the former CBO of BharatPe) and Mr. Ram Pathade (CEO of Mahagram).

Source : Economic Times

4 .

RBI has hiked the policy repo rate by how much much basis points?

A)

50 basis points

B)

40 basis points

C)

35 basis points

D)

30 basis points

Correct Answer : 40 basis points

The Reserve Bank of India (RBI) in a sudden move on May 4, 2022 increased the policy repo rate by 40 basis points to 4.40 percent with immediate effect. This was decided unanimously by the Monetary Policy Committee (MPC) in an off-cycle meeting to reassess the evolving inflation-growth dynamics and the impact of the developments after the MPC meeting of April 6-8, 2022. With this, the Standing Deposit Facility (SDF) rate stands adjusted to 4.15 percent and Marginal Standing Facility (MSF) rate and the Bank Rate to 4.65 percent.

5 .

Which bank has launched a pre-approved personal loan product under Project World of Advance Virtual Experience(WAVE)?

A)

Indian Bank

B)

Canara Bank

C)

Union Bank of India

D)

State Bank of India

Correct Answer : Indian Bank

Indian Bank has launched a Pre-Approved Personal Loan (PAPL) product under Project World of Advanced Virtual Experience (WAVE), which will be serviced only through digital channels.

The PAPL loan can be availed via 'IndOASIS' mobile app, bank’s website and internet banking facility. The loan carries an interest rate of 10% pa at present with no foreclosure charges.

Indian Bank is giving the loan at the finest conditions available in the domestic market, with the option to choose loan tenure from 24 to 48 months and the ability to close the loan before time without penalty.

Started in January 2022, the digital transformation initiative of Indian Bank under Project ‘WAVE' has led to launch of its first digital product PAPL that aims at providing its customers with instant loan disbursement via a three-step process. Currently, it is launched for existing customers of the bank aged 21 years and above, having regular income and pension accounts...

Source : Times of India

6 .

Which Bank launched pre-approved personal loan under Project WAVE?

A)

Indian Bank

B)

Bank of Baroda

C)

Canara Bank

D)

Punjab National Bank

Correct Answer : Indian Bank

Indian Bank has unveiled a pre-approved personal loan (PAPL) product under Project World of Advance Virtual Experience (WAVE) a top official said on Thursday(28th April 2022).

Aims : To provide customers with instant loan disbursements.

The loan would carry an interest rate of 10% p.a. with no foreclosure charges.

The service is available for existing customers (regular income and pension accounts) and can be availed of through a mobile application, website, and internet banking facility.

With the flexibility to opt for a loan tenure between 24 and 48 months and the ability to pre-close the loan without any penalties, Indian Bank is offering the loan at the best terms available in the domestic market,” Jain added..

Source : The Print

7 .

Which Bank became the first public sector bank to go live on the Account Aggregator (AA) ecosystem?

A)

State Bank of India

B)

Indian Bank

C)

Union Bank of India

D)

Central Bank of India

Correct Answer : Union Bank of India

Union Bank of India became the first public sector bank to go live on the Account Aggregator (AA) ecosystem. The framework facilitates sharing of financial information on a real-time basis between regulated entities. AAs are licensed by the Reserve Bank of India to enable the flow of data between Financial Information Providers (FIPs) and Financial Information Users (FIUs).

The Account Aggregator Ecosystem helps the Lenders to leverage Digital data acquired with the consent of the Customers for providing them with a seamless journey and eliminating the need of physical documentation. Financial Information User (FIU) can request data from the Financial Information User (FIP) based on a simple consent given by the Customer on their Account Aggregator handle.

8 .

Which Bank launched India's 'open-for-all' digital ecosystem for MSMEs?

A)

Axis Bank

B)

HDFC Bank

C)

YES BANK

D)

ICICI Bank

Correct Answer : ICICI Bank

ICICI Bank has launched India’s first ‘open-for-all’ comprehensive digital ecosystem for all Micro, Small and Medium Enterprises (MSMEs) in the country, which can also be used by the customers of other banks. Anyone can use the benefits of digital solutions on the InstaBIZ app. MSMEs customers of other banks can avail of a host of services by logging in as a ‘Guest’ in the app. It provides sanctions of instant and paperless overdraft facility up to Rs 25 lakh through ‘InstaOD Plus’.

9 .

Which bank has changed the terms and conditions for banks participating in the Kisan Credit Card (KCC) short-term agricultural loan scheme?

A)

State Bank of India

B)

Reserve Bank of India

C)

Central Bank of India

D)

National Bank for Agriculture and Rural Development

Correct Answer : Reserve Bank of India

The Reserve Bank of India (RBI) changed the rules for banks to claim the amount of interest subsidies paid to farmers under the short-term crop credit plan via the Kisan Credit Card (KCC) during the previous fiscal year.

Main Points :

* The Reserve Bank of India (RBI) announced in a circular that pending claims for the fiscal year 2021-22 can be submitted by June 30, 2023, and that they must be duly certified by statutory auditors “as true and correct.”

* The government grants banks a 2% annual interest subsidy in order to assist farmers with short-term crop loans of up to Rs 3 lakh at a 7% annual interest rate.

* Farmers that repay their loans on time will receive an additional 3% interest subsidy. The effective interest rate for these farmers is 4%.

* Banks must submit their claims on an annual basis, duly certified by their statutory auditors as true and correct, within a quarter of the year’s end, according to the circular on ‘Modified Interest Subvention Scheme for Short Term Loans for Agriculture and Allied Activities availed through Kisan Credit Card (KCC)‘ during 2021-22.

Source : RBI

10 .

Report on Currency and Finance has been recently in the news. It is released by which of the following institutions?

A)

World Bank

B)

Reserve Bank of India

C)

World Economic forum

D)

Asia Development Bank

Correct Answer : Reserve Bank of India

* Recently, the Reserve Bank of India (RBI) released the Report on Currency and Finance (RCF).

* According to the report, the Indian economy may take more than a decade to overcome the losses caused by the outbreak of the Covid-19 pandemic.

* The theme of the report is "Revive and Reconstruct" in the context of nurturing a durable recovery post-Covid-19 and rising trend growth in the medium-term.

Source : The Hindu

Banking - General Knowledge Questions