Latest Banking Dates General Knowledge(GK) Questions and answers

1 .

Which bank has enhanced its free IMPS transactions limit to Rs 5 lakh from earlier Rs 2 lakh?

A)

BOB

B)

SBI

C)

PNB

D)

Canara

Correct Answer : SBI

The State Bank of India decided on January 4, 2022 to enhance the free IMPS online transactions limit to Rs 5 lakh from earlier Rs 2 lakh to encourage customers to adopt digital banking. SBI will not levy any service charge on Immediate Payment Service (IMPS) transactions up to Rs 5 lakh done through Internet banking or Mobile Banking.

2 .

Which Payments Bank has received the Reserve Bank of India's approval for commencing international remittance business under the Money Transfer Service Scheme (MTSS)?

A)

IndusInd Bank

B)

Federal Bank

C)

Airtel Payments Bank

D)

Fino Payments Bank

Correct Answer : Fino Payments Bank

Fino Payments Bank has received the Reserve Bank of India's approval for commencing international remittance business under the Money Transfer Service Scheme (MTSS).

The bank will be undertaking inward cross-border money transfer activities in association with an overseas principal, the details of which are being worked out, as per the Fino Payments Bank press release issued on 3 January 2022.

According to a World Bank release in November, India is expected to be the largest recipient of remittances globally in 2021 with an expected receipt of $87 billion. This is expected to grow by 3% in 2022 to $89.6 billion as a large number of workers are expected to return to the Gulf countries.

3 .

Which bank has retained State Bank of India, ICICI Bank and HDFC Bank as Domestic Systemically Important Banks (D-SIBs)?

A)

World Bank

B)

Reserve Bank of India

C)

Central Bank of India

D)

Asian Development Bank(ADB)

Correct Answer : Reserve Bank of India

Reserve Bank of India has retained State Bank of India, ICICI Bank and HDFC Bank as Domestic Systemically Important Banks (D-SIBs). These three banks have continued to be on the D-SIBs list published by RBI, since Sep 04, 2017. Domestic Systemically Important Banks are those banks which if fail would have a significant impact on the economy.

The D-SIBs banks are classified into 5 buckets. Bucket 1, Bucket 2, Bucket 3, Bucket 4 and Bucket 5. With Bucket 5 being the most important followed by rest in decreasing order. State Bank of India is in Bucket 3, while ICICI Bank and HDFC Bank are in Bucket 1. The updated list is based on the data collected from banks as of March 31, 2021.

4 .

Which card joins hands with Paytm for card tokenization?

A)

Axis Cards

B)

HDFC Card

C)

SBI Cards

D)

ICICI Card

Correct Answer : SBI Cards

SBI Cards and Payment Services has tied up with Paytm for card tokenisation to protect data of the cardholders.

SBI Card has collaborated with Paytm to enable cardholders to tokenise their cards on devices and make payments through Paytm, SBI Card said in a regulatory filing on Thursday(30th Dec 2021).

Tokenisation refers to masking the original card number by replacing it with a set of unique characters, termed as token, which secures the customer's card details when a transaction is under process.

SBI Card said the card tokenisation facility is available only on Android NFC (near field communication) devices. "Currently, only cards issued in the Indian territory are enabled on Paytm network. However, customers may transact using his/her SBI Card through Paytm network in international locations," SBI Card said.

Source : The Hans India

5 .

How long has the RBI extended the deadline for periodic KYC updates?

A)

March 31, 2022

B)

April 30, 2022

C)

May 31, 2022

D)

June 30, 2022

Correct Answer : March 31, 2022

The Reserve Bank of India extended the deadline for periodic KYC update till March 31, 2022. It stated that the extension has been provided keeping in mind COVID-19 concerns. "In view of the prevalent uncertainty due to the new variant of Covid-19, the relaxation provided in the aforementioned circular is hereby extended till March 31, 2022," the central bank said on Thursday.

This extension comes after the RBI stated on May 5 that there would be no restriction on operations till December 31 of customer accounts whose KYC is due and pending due to COVID-19 related curbs. “Keeping in view the current COVID-19 related restrictions in various parts of the country, REs (regulated entities) are advised that in respect of the customer accounts where periodic updation of KYC is due and pending as on date, no restrictions on operations of such account shall be imposed till December 31, 2021, for this reason alone, unless warranted under instructions of any regulator/ enforcement agency/court of law, etc. Regulated entities are also advised to continue engaging with their customers for having their KYC updated in such cases,” it had stated.

Source : Business Today

6 .

Who has been appointed as the Managing Director and Chief Executive Officer (MD and CEO) of Jammu and Kashmir Bank?

A)

Baldev Prakash

B)

Dr. N. Kamakodi

C)

Amitabh Chaudhry

D)

Sandeep Bakhshi

Correct Answer : Baldev Prakash

Baldev Prakash has been appointed as the Managing Director & Chief Executive Officer (MD & CEO) of Jammu & Kashmir Bank for three years. His appointment will be effective from the date of taking charge or April 10, 2022, whichever is earlier. Apart from him, R K Chhibber has been appointed as an additional director on the board of the bank.

Prakash has over 30 years of experience in banking. He had joined SBI as a probationary officer in 1991 and was the Chief General Manager (Digital and Transaction Banking Marketing Department) at SBI, Mumbai. The appointment is effective from the date of taking charge or April 10, 2022, whichever is earlier.

7 .

Who has been re-appointed as MD and CEO of Equitas Small Finance Bank in Dec 2021?

A)

Vaani Kumari

B)

Prashant Kumar

C)

V. Vaidyanathan

D)

Vasudevan PN

Correct Answer : Vasudevan PN

Vasudevan Pathangi Narasimhan has been reappointed as the Managing Director (MD) & Chief Executive Officer (CEO) of Equitas Small Finance Bank Limited (ESFBL) for three years (from July 23, 2022, to July 22, 2025), by the Board of Directors (BoD). He is currently serving as the MD and CEO of the bank.

Earlier he was working as the MD of Equitas Holdings Limited. He holds a bachelor’s degree in science (physics) from the University of Madras. A qualified company secretary from the Institute of Company Secretaries of India, he has extensive experience in the financial services sector.

8 .

Which country has become the newest member of the BRICS New Development Bank?

A)

Kenya

B)

Egypt

C)

Tanzania

D)

Uganda

Correct Answer : Egypt

India on December 29, 2021, welcomed Egypt as the new member of the BRICS New Development Bank. With this, Egypt has now become a fourth new member to be admitted to BRICS NDB. The BRICS group includes five major emerging countries around the world- Brazil, Russia, India, China, and South Africa and the multilateral bank BRICS NDB was established by these rising economies to finance the sustainable development projects.

9 .

Which bank has become the second largest merchant-acquisition bank in India(2021)?

A)

Indian Bank

B)

YES Bank

C)

Axis Bank

D)

IDBI Bank

Correct Answer : Axis Bank

Axis Bank has become the second-largest merchant-acquiring bank in the country, leapfrogging two spaces during 2021 by installing over two lakh card-swipe machines during the year. This is part of the bank’s ‘Axis One’ strategy where it approaches the customers offering its entire gamut of products instead of a standalone service.

“We are making aggressive strides in merchant-acquiring. We are not looking at merchants as just someone who acquires a point-of-sale (PoS) terminal but as an opportunity to open a new current account for their business, personal savings account and an opportunity to provide loans and insurance protection. We are growing this business by offering new products to the payment products merchant,” said Axis Bank executive VP & head (cards & payments) Sanjeev Moghe.

Source : The Times of India

10 .

Which Bank launched 'green fixed deposits'?

A)

Axis Banl

B)

HDFC Bank

C)

ICICI Bank

D)

IndusInd Bank

Correct Answer : IndusInd Bank

IndusInd Bank launched Green Fixed Deposits where the deposit proceeds will be used to finance projects and firms supporting the United Nations Sustainable Development Goals (SDGs).

These deposits, shall be offered to both retail and corporate customers. The bank, will use the proceeds from these deposits to finance a wide array of sectors falling under the Sustainable Development Goal (SDG) category including, energy efficiency, renewable energy, green transport, sustainable food, agriculture, forestry, waste management, and greenhouse gas reduction.

The private bank's standalone net profit surged 72% to Rs 1,113.53 crore on an 8.6% increase in total income to Rs 9,487.56 crore in Q2 FY22 over Q2 FY21.

Shares of IndusInd Bank shed 0.27% to Rs 852.85 on BSE. IndusInd Bank caters to both consumer and corporate customers.

Source : Business Standard