Latest Banking Dates General Knowledge(GK) Questions and answers

1 .

Which Banks' are won the IBSi Innovation Awards 2021?

A)

HDFC Bank and CRMNEXT

B)

ICICI Bank and CRMNEXT

C)

Axis Bank and CRMNEXT

D)

Central Bank and CRMNEXT

Correct Answer : Option (C) - Axis Bank and CRMNEXT

Axis Bank, one of the largest private bank in Asia, and CRMNEXT, the leading crm for banks, were awarded the "Best CRM System Implementation" at IBS Intelligence Global FinTech Innovation Awards 2021, which are referred by prominent global bankers and IT consultants as the most prestigious of their kind across the world.

Naval Kumar Lad, Sr. Vice President, Information Technology, Axis Bank, accepted the award on behalf of the bank. The bank has implemented CRMNEXT for sales and service modernisation enabling Straight through Processing and instant fulfilment. The platform also enables smarter lead processing automated routing, complete tracking, and visibility.

With CRMNEXT, the bank can now generate dynamic personalized offers with real-time visibility on eligibility. CRMNEXT also delivered augmented analytics for real-time customer intelligence, seamless customer onboarding and enabled relationship managers with automated relationship programs.

Source : PR News Wire

2 .

When was the RBI Ombudsman Scheme Annual Report, 2020-21 released?

A)

14th Jan 2022

B)

13th Jan 2022

C)

12th Jan 2022

D)

11th Jan 2022

Correct Answer : Option (C) - 12th Jan 2022

The Reserve Bank of India (RBI) released the Annual Report of the Ombudsman Schemes for the year 2020-21 today(12th Jan 2022), which has been prepared for the nine-month period, i.e., July 1, 2020 to March 31, 2021, in alignment with the change in the Financial Year of RBI from ‘July – June’ to ‘April – March' with effect from July 1, 2020. The Annual Report covers the activities under the Banking Ombudsman Scheme, 2006 (BOS), the Ombudsman Scheme for Non-Banking Financial Companies, 2018 (OSNBFC) and the Ombudsman Scheme for Digital Transactions, 2019 (OSDT), major developments and the way forward in the area of consumer protection.

3 .

Which Payments Bank became most preferred UPI beneficiary bank in India?

A)

Paytm Payments Bank

B)

Fino Payments Bank

C)

Jio Payments Bank

D)

Airtel Payments Bank

Correct Answer : Option (A) - Paytm Payments Bank

Paytm Payments Bank Ltd (PPBL) became the largest and fastest-growing UPI beneficiary bank in India. It becomes the first beneficiary bank in the country to achieve the landmark of over 926 million UPI transactions in a single month. Beneficiary banks are the banks of the account holder who is receiving money. Paytm Payments Bank has also gained rapid traction as a remitter bank for UPI payments.

While State Bank of India (SBI) topped the chart of being the biggest remitter in December 2021, according to data released by the National Payments Corporation of India (NPCI). State Bank of India followed PPBL as the second-largest beneficiary with 664.89 million transactions.

4 .

Which bank has been selected as the Best Private Bank in India at the Global Private Banking Awards 2021?

A)

Axis Bank

B)

HDFC Bank

C)

ICICI Bank

D)

State Bank of India

Correct Answer : Option (B) - HDFC Bank

HDFC Bank has been adjudged Best Private Bank in India at the Global Private Banking Awards 2021, organised by Professional Wealth Management (PWM).

Published by the Financial Times - the world's leading global business publication - Professional Wealth Management (PWM) specialises in analysing the growth strategies of private banks and the regional financial centres in which they operate.

In its editorial, (https://globalprivatebankingawards.com) PWM says: "With clients demanding expertise in areas such as ESG, alternatives and technology, PWM's awards celebrate success for those banks which stay one step ahead."..

Source : Business Standard

5 .

Which bank has tied up with LazyPay India to launch LazyCard?

A)

MauBank

B)

HDFC Bank

C)

DCB Bank

D)

SBM Bank

Correct Answer : Option (D) - SBM Bank

LazyPay, India's preferred Buy Now Pay Later solution by PayU Finance, Wednesday(12th Jan 2022) announced its partnership with SBM Bank India to launch LazyCard, a prepaid payment instrument backed by a credit line, foraying into the card segment.

The card aims at empowering financially underserved Indians with easy access to credit. Powered by Visa and SBM Bank India, LazyCard is built with a strong rewards structure, creating value for customers in every transaction by offering bigger, better cash back rewards and offers like never before. Digitally linked to the LazyPay app, the card uses robust technology to ensure security and a hassle-free experience in managing payments.

Source : Business Standard

6 .

Which bank has tied up with MinkasuPay for biometric based banking payments?

A)

State Bank of India

B)

HDFC Bank

C)

ICICI Bak

D)

Axis Bank

Correct Answer : Option (D) - Axis Bank

Axis Bank has tied up with MinkasuPay, a mobile payments company based in Silicon Valley, California, to offer a smooth net banking payment experience to its customers through biometric authentication solution.

The transaction time will reduce from the current 50-60 seconds to just 2-3 seconds with fingerprint or face ID authentication, while increasing success rates significantly, the companies said in a release on Wednesday.

"In a continuous effort to provide hassle-free digital payment solutions to its customers, Axis Bank through this partnership with MinkasuPay will enable customers to make net banking payments in merchant apps using Fingerprint or Face ID, without the need of usernames, passwords, and OTPs. This will enhance user experience, while bolstering security and reducing cyber-fraud," it said.

MinkasuPay's biometric authentication solution is a two-factor authentication solution that leverages the power of smartphones and biometrics to eliminate friction.

Source : Business Today

7 .

Whose appointment as Ujjivan Small Finance Bank MD and CEO has been approved by RBI?

A)

Rishi Gupta

B)

Rajeev Ahuja

C)

Ittira Davis

D)

Sanjiv Chadha

Correct Answer : Option (C) - Ittira Davis

The Reserve Bank of India (RBI) has approved the appointment of "Ittira Davis" as the Managing Director and Chief Executive Officer (MD & CEO) of Ujjivan Small Finance Bank (SFB) for a one-year term effective January 14, 2022.

On December 6, 2022, the bank's board had appointed Davis the MD & CEO for a three-year term from the date of approval of the RBI or such other period as may be approved by the central bank.

Ujjivan SFB, in a filing with BSE, said the special committee of directors, formed in September to oversee the operations and administration in the absence of MD & CEO, stood dissolved from January 13, 2022. The panel was formed after Nitin Chugh resigned as MD & CEO.

Davis had a stint with Ujjivan SFB as its chief operating officer. He joined Ujjivan in March 2015 and headed its transition from a microfinance institution (MFI) to an SFB.

Source : Business Standard

8 .

Which bank has projected India's GDP growth at 8.3% in Financial Year-2022?

A)

World Bank

B)

Bank of America

C)

Reserve Bank of India

D)

Asian Development Bank

Correct Answer : Option (A) - World Bank

The World Bank on Tuesday(11th Jan 2022) retained its FY22 growth forecast for India at 8.3% but upgraded it to 8.7% for FY23, from 7.5% estimated earlier, citing improving growth prospects, especially a reviving private capex cycle.

“India’s economy is expected to grow by 8.3% in the fiscal year ending March 2022, unchanged from the June 2021 outlook. The forecast for FY2022/23 and FY2023/24 for India has been upgraded to 8.7% and 6.8%, respectively, reflecting higher investment from the private sector and in infrastructure, and dividends from ongoing reforms,” it said in its latest Global Economic Prospects report.

9 .

Which bank has set up a separate internal department for fintech (Financial technology)?

A)

Union Bank of India

B)

Reserve Bank of India

C)

State Bank of India

D)

Asian Development Bank

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

After setting up a financial technology unit back in 2018, the Reserve Bank of India (RBI) said it will now put together a separate fintech department in view of the sector’s rapidly changing landscape.

In an internal circular, the central bank said it decided to set up the department to further focus and facilitate innovation in the Indian fintech sector. “Accordingly, a new department has been created with effect from January 4, 2022, by subsuming the fintech division of DPSS, CO. The department will not only promote innovation in the sector, but also identify the challenges and opportunities associated with it and address them in a timely manner,” RBI said in the circular.

Source : India Times

10 .

Which bank has tied up with Google to improve the next generation customer experience?

A)

Axis Bank

B)

RBL Bank

C)

HDFC Bank

D)

ICICI Bank

Correct Answer : Option (B) - RBL Bank

RBL Bank stated on Monday(10th Jan 2022) that it has collaborated with Google to strengthen its customer experience strategy and expand value proposition in order to serve its rapidly growing customer base through its digital platform, Abacus 2.0. This collaboration will enable RBL to better manage customer data and analytics and enable effective cross-selling, thereby reducing the cost of customer acquisition significantly.

The lender stated that it aims to provide a superior and holistic one-stop solution to its customers through Abacus 2.0. It also plans to increase its over 4 million customers to a base of 12-14 million users in the next three years in the urban retail asset and liability category. It will leverage Google Cloud’s infrastructure for seamless on-boarding of customers. The infrastructure will also be the technology foundation of a customer acquisition engine with inclusive access to products such as payments, deposits, insurance, credit card, investments, secured loans and more.

Surinder Chawla, Head Branch and Business Banking, RBL Bank said, “Advancing our innovation agenda and building an optimized and agile data platform to serve our existing and prospective customers is one of our critical business priorities. Working with Google, we will augment our customer targeting with solutions such as Google Ads, and explore co-innovation opportunities with platforms like Google Pay to drive user engagement and build new digital offerings.”

Source : Business Today