Latest Banking Dates General Knowledge(GK) Questions and answers

1 .

Which Bank has tie-up with Creditas Solutions for "Neo Collections" platform?

A)

SBI Bank

B)

Indian Bank

C)

RBL Bank

D)

HDFC Bank

Correct Answer : RBL Bank

RBL Bank has partnered with Creditas Solutions for its ‘Neo Collections’ platform. The bank will utilise the SaaS-based platform to accelerate efficiency in collections across the loan cycle. The platform is built to automate strategies for reaching out to customers individually in an empathetic manner and motivate them to repay loans.

The platform can also determine the best course of action for every customer by offering customised payment plans to service debt, schedule an EMI plan or opt for payment resolution options. The Neo Collections Platform, a Do It Yourself (DIY) debt management platform, will help our customers seamlessly monitor, manage and pay their dues.

2 .

RBI has increased the limit of e-RUPI vouchers from 10 thousand to how much?

A)

10000

B)

50000

C)

100000

D)

150000

Correct Answer : 100000

The Reserve Bank of India (RBI) on Thursday(10th Feb 2022) proposed to increase the cap on the amount for e-RUPI vouchers from Rs 10,000 currently to Rs 1,00,000 so as to enhance the scope of application of these vouchers and facilitate faster delivery of various government services to beneficiaries efficiently.

Further, it said, the e-RUPI vouchers can be used multiple times, until the amount on the voucher is completely redeemed. Currently, each voucher can be redeemed only once. The RBI will issue necessary instructions in this regard to the National Payments Corporation of India (NPCI).

“This will further facilitate the delivery of various government schemes to the beneficiaries more efficiently,” RBI governor Shaktikanta Das said in his statement.

Launched in August 2021, e-RUPI, currently, is a one-time use digital solution to facilitate cashless payment which is person and purpose specific for various services like the covid vaccinations, donations, corporate gift vouchers, etc. e-RUPI can be issued only by banks authorised by RBI to issue Prepaid Payment Instruments (PPI) and who are participating as Payment Service Providers (PSP) in the UPI ecosystem.

Source : Business Standard

3 .

What will be the minimum retention period under the re-introduced Voluntary Retention Route (VRR) for investments by Foreign Portfolio Investors (FPIs) by RBI?

A)

6 Years

B)

5 Years

C)

4 Years

D)

3 Years

Correct Answer : 3 Years

The Reserve Bank of India introduced the Voluntary Retention Route (VRR) for investments by Foreign Portfolio Investors (FPIs) on March 01, 2019. An amount of ₹1,50,000 crore was offered for investment through VRR, in three tranches so far; of which around ₹1,49,995 crore have been availed as on February 10, 2022. Based on the feedback received, and in consultation with the Government, the Bank has increased the investment limits available under the VRR. The increase in VRR investment limit has been notified today, vide A.P. (DIR Series) Circular No. 22 dated February 10, 2022.

The increased investment limits shall be open for allotment from April 01, 2022 as per the following details :

* The investment limit under VRR has been increased to ₹2,50,000 crore.

* The investment limit available for fresh allotment shall accordingly be ₹1,04,800 crore (net of extant allotments and adjustments); and shall be allotted under the VRR–Combined category.

* The minimum retention period shall be three years.

* Investment limits shall be available ‘on tap’ and allotted on ‘first come, first served’ basis.

* The ‘tap’ shall be kept open till the limit is fully allotted.

* FPIs may apply for investment limits online to Clearing Corporation of India Ltd. (CCIL) through their respective custodians.

* CCIL will separately notify the operational details of application process and allotment.

Source : RBI

4 .

Which bank bought the 1st largest gold in 2021?

A)

Central Bank of Thailand

B)

Central Bank of Germany

C)

Asian Development Bank (ADB)

D)

Reserve Bank of India

Correct Answer : Central Bank of Thailand

The largest buyer, the Central Bank of Thailand, bought 90 metric tonnes of gold while RBI(Reserve Bank of India) bought 77.5 metric tonnes taking its total gold reserve to 754.1 tonnes at the end of December 2021. When it comes to gold buying, the Reserve Bank of India (RBI) emerged as the second-largest buyer of yellow metal among the world’s Central Banks in 2021. As per Goldhub, India’s official gold reserves is the ninth-largest in the world. Goldhub is the official website of the World Gold Council that maintains all the data regarding precious metals.

At the end of December 2021, RBI gold reserves stood at 754.1 tonnes, which amounts to 6.22 per cent of India’s forex reserves. As per RBI data, India’s total reserves at the end of December 31, 2021, stood at $633.61 billion, including gold reserves worth $39.405 billion.

5 .

Since when is Reserve Bank of India celebration the Financial Literacy week?

A)

2013

B)

2016

C)

2019

D)

2022

Correct Answer : 2016

The Reserve Bank of India (RBI) observes Financial Literacy Week(FLW) annually since 2016 to promote & spread awareness about financial education messages on a particular theme through a focused campaign across India.

6 .

IIT Hyderabad has launched AI-based job portal "Swarajability" for people with disabilities, with funding support from which bank?

A)

Axis Bank

B)

Kotak Mahindra Bank

C)

Union Bank of India

D)

Central Bank of India

Correct Answer : Kotak Mahindra Bank

The Indian Institute of Technology (IIT-Hyderabad) has launched an AI-based job portal named “Swarajability” that helps people with disabilities acquire relevant skills and find jobs. It is presently the beta version of the portal. The project is funded by Kotak Mahindra Bank and it has been developed in association with Youth4Jobs, Visual Quest apart from Kotak Mahindra Bank.

7 .

How much amount was granted by the Asian Development Bank (ADB) to the Government of India through sovereign loan in 2021?

A)

USD 2.6 billion

B)

USD 3.6 billion

C)

USD 4.6 billion

D)

USD 5.6 billion

Correct Answer : USD 4.6 billion

As per the data released by the Asian Development Bank (ADB) on February 06, 2022, it provided a record USD 4.6 billion in sovereign lending to India in 2021. This included USD 1.8 billion towards coronavirus disease (COVID-19) pandemic response.The USD 4.6 billion was committed by ADB for 17 loans.

8 .

Which bank license has been cancelled by RBI in Feb 2022?

A)

Kerala Gramin Bank (Kochi)

B)

Allahabad Bank (Delhi)

C)

Punjab National Bank (Haridwar)

D)

Co-operative Bank (Nashik)

Correct Answer : Co-operative Bank, Nashik

The licence of Independence Co-operative Bank, Nashik has been cancelled as it does not have adequate capital and earning prospects, the RBI said on Thursday(February 3, 2022). Independence Co-operative Bank has ceased to carry on banking business with effect from the close of business hours on February 3, 2022 (Thursday), the RBI said in a statement. On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to a ceiling of Rs 5 lakh from the Deposit Insurance and Credit Guarantee Corporation (DICGC).

As per the data submitted by the bank, more than 99 percent of the depositors are entitled to receive full amount of their deposits from DICGC. The RBI said the bank has failed to comply with the requirements the Banking Regulation Act, 1949.

Source : Financial Express

9 .

Which bank will introduce a digital rupee in India?

A)

RBI

B)

SBI

C)

KVB

D)

CUB

Correct Answer : RBI

Finance Minister Nirmala Sitharaman announced the government's intent to introduce a digital rupee in her Union Budget 2022-23 speech on February 1, 2022. The Finance Minister announced that the digital currency or digital rupee will be introduced by the central bank of India using blockchain and other technologies.

10 .

The Reserve Bank of India has imposed a number of restrictions on which bank, including a cap of Rs 1 lakh on withdrawals?

A)

Canara Bank

B)

Chaitanya Godavari Grameena Bank

C)

Andhra Pragathi Grameena Bank

D)

Indian Mercantile Co Operative Bank Ltd

Correct Answer : Indian Mercantile Co Operative Bank Ltd

The Reserve Bank India on Friday(28th Jan 2022) said it has imposed several restrictions on "Indian Mercantile Cooperative Bank Ltd", Lucknow, including a cap of Rs 1 lakh on withdrawals.

The restrictions came into force from closure of business hours on January 28, 2022 (Friday).

In a statement, RBI said the Lucknow-based co-operative bank will not, without its prior approval, grant or renew any loans and advances, or make any investment.

"In particular, a sum not exceeding Rs 1 lakh of the total balance across all savings bank or current accounts or any other account of a depositor, may be allowed to be withdrawn...", subject to certain conditions, it added.

The central bank, however, added the directions should not per se be construed as a cancellation of the banking licence by the RBI.

Source : Business Standard

Banking - General Knowledge Questions