Latest Banking Dates General Knowledge(GK) Questions and answers

1 .

After the merger of HDFC Limited with HDFC Bank, what will be the share of public shareholders in the merged entity?

A)

30%

B)

62%

C)

85%

D)

100%

Correct Answer : 100%

Mortgage lender HDFC Limited and its banking arm, HDFC Bank have announced merger, making it the biggest merger in the Indian corporate history. The market-cap of the merged entity will be approx Rs 14 lakh crore (twice the size of ICICI Bank), making it India’s second-biggest entity in terms of market capitalisation, after Reliance Industries Ltd (Rs 18.01 lakh crore). Post merger, HDFC Bank will be 100% owned by public shareholders.

2 .

Which bank has signed MoU with the Border Security Force (BSF) under the Central Armed Police Salary Package (CAPSP) Scheme to offer financial security to the serving and retired personnel?

A)

Axis Bank

B)

HDFC Bank

C)

ICICI Bank

D)

State Bank of India

Correct Answer : State Bank of India

The State Bank of India (SBI) has signed a Memorandum of Understanding (MoU) with the Border Security Force (BSF) to provide solutions for financial security to BSF personnel through the Central Armed Police Salary Package (CAPSP) Scheme.

3 .

Which private bank has announced a merger with India's largest housing finance company HDFC Ltd?

A)

Axis

B)

ICICI

C)

HDFC

D)

IndusInd

Correct Answer : HDFC

India's largest private lender HDFC Bank has announced a merger with the largest housing finance company in the country, HDFC Ltd to create a financial services conglomerate. This sets the stage for one of the biggest deals in the financial sector.

4 .

Which bank will be acquiring Citibank's India consumer business for an amount of USD 1.6 billion (Rs 12,325 crores) in an all-cash deal?

A)

Axis Bank

B)

HDFC Bank

C)

ICICI Bank

D)

Union Bank of India

Correct Answer : Axis Bank

Citigroup has announced that "Axis Bank" will be acquiring Citibank’s India consumer business for an amount of USD 1.6 billion (Rs 12,325 crores) in an all-cash deal. This transaction will be including Citibank India’s consumer banking businesses, which include retail banking, credit cards, consumer loans, and wealth management.

* This transaction will also be including the sale of Citibank’s non-banking financial company consumer business, Citicorp Finance (India) Limited, which comprises a financing business that is asset-backed and also includes construction equipment and commercial vehicle loans, and a portfolio of personal loans.

* It is an exchange of assets or a single asset for cash and no other monetary means, such as exchange of stocks or financing are used. The most common way of settling all-cash deal are wire transfers or check and the physical form of cash is generally avoided.

5 .

Which Bank has partnered with ID to implement digital Know Your Customer (KYC), video KYC and eKYC for its network across India?

A)

UCO Bank

B)

Central Bank of India

C)

Union Bank of India

D)

Punjab National Bank

Correct Answer : Central Bank of India

Central Bank of India partnered with ID to implement digital Know Your Customer (KYC), video KYC and eKYC for its network across India. The aim of the partnership is to bring seamless onboarding and provide efficient digital facilities to the customers across India.

ID is India’s fastest and first-ever AI-based fully compliant Video KYC solution and a flagship product by Think360.ai. It has the target to digitize 10 million customers’ onboarding annually and streamline its end-to-end processes. Central Bank of India had an eight-month-long gruelling evaluation process on technology and product experience followed by a reverse auction commercial round for this selection..

6 .

What is the deadline set by the RBI for banks to implement the exchange of lockable cassettes in all their ATMs?

A)

May 31, 2022

B)

August 31, 2022

C)

December 31, 2022

D)

March 31, 2023

Correct Answer : March 31, 2023

Banks were directed to implement the lockable cassette swap in a phased manner, such that at least one-third ATMs operated by them is covered every year, while all ATMs achieve cassette swap by March 31, 2021. However, this deadline was later extended to March 31, 2022. Further, upon receiving representations from various banks for facing difficulties in meeting the timeline, RBI has further extended the timeline for implementation of cassette swap in all ATMs by a year till March 31, 2023.

7 .

What amount of Ways and Means Advances (WMA) limit has been set by RBI for Central Government for the first half of the financial year 2022-23 (April 2022 to September 2022)?

A)

Rs. 1,00,000 crore

B)

Rs. 1,50,000 crore

C)

Rs. 2,00,000 crore

D)

Rs. 2,50,000 crore

Correct Answer : Rs. 1,50,000 crore

The Reserve Bank of India has set the limit for Ways and Means Advances (WMA) for Central Government for the first half of the financial year 2022-23 (April 2022 to September 2022) at Rs. 1,50,000 crore.

8 .

Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) has set up an ink manufacturing unit in Mysore under which name?

A)

Chandra

B)

Mukundh

C)

Varnika

D)

Vrushali

Correct Answer : Varnika

Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) has set up an Ink Manufacturing Unit named “Varnika” at Mysuru, Karnataka, with an annual ink manufacturing capacity of 1,500 MT to enhance the security of banknotes. Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) a wholly-owned subsidiary of RBI. Shaktikanta Das (Governor of RBI) has dedicated “Varnika”, the Ink Manufacturing Unit of Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) to the nation.

* It is a boost to the ‘Make in India’ initiative. It ensures that the entire requirement of banknote printing inks is produced in-house.

* This unit also manufactures Colour Shift Intaglio Ink (CSII) and meets the entire requirements of banknote printing presses in India, which has resulted in cost efficiency and self-sufficiency in banknote ink production.

9 .

Pralay Mondal has been appointed as the interim MD and CEO of which bank?

A)

CSB Bank

B)

HDFC Bank

C)

ICICI Bank

D)

Indian Bank

Correct Answer : CSB Bank

The Reserve Bank of India has approved the appointment of "Pralay Mondal" as the interim Managing Director and CEO of CSB Bank. Presently he is the Managing Director at CSB Bank. The post of MD and CEO at CSB Bank was lying vacant after its full-time MD and CEO, C V R Rajendran announces early retirement on health grounds (w.e.f March 31, 2022). RBI has approved the appointment of Pralay for three months from April 1st, 2022, or till the appointment of a regular Managing Director and CEO of CSB Bank, whichever is earlier.

10 .

Which bank license has been revoked by RBI in March 2022?

A)

Andhra Pragathi Grameena Bank

B)

Karnataka Vikas Grameena Bank

C)

Madgaum Urban Cooperative Bank

D)

People's Co-operative Bank Ltd Kanpur

Correct Answer : People's Co-operative Bank Ltd Kanpur

Reserve Bank of India (RBI), vide order dated March 17, 2022, has cancelled the license of People’s Co-operative Bank Limited, Kanpur, Uttar Pradesh. Consequently, the bank ceases to carry on banking business, with effect from the close of business on March 21, 2022. The Commissioner for Cooperation and Registrar of Cooperative Societies, Uttar Pradesh has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank..

Source : RBI

Banking - General Knowledge Questions