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Current Banking Awareness Quiz – Set 14

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Hello Aspirants. Welcome to Current Banking Awareness Quiz in AffairsCloud.com. Here we are covering some important Banking Awareness Questions. Do study this banking quiz thoroughly as it may prove to be helpful in upcoming exams.

  1. The second edition of Gyan Sangam, a retreat of chiefs of public sector financial institutions is likely to be held on March 4 and 5, to brainstorm various issues including bad loans and social sector schemes implementation. The venue for this event is ________.
    A. Kolkata
    B. Mumbai
    C. Gurgaon
    D. Delhi
    C. Gurgaon
    Explanation:The first Gyan Sangam was held last year in Pune where Prime Minister Narendra Modi addressed heads of PSU banks and insurers and financial sector regulator promising no interference from any government functionary in the matter of their commercial decisions.
    •Two focus areas of the new government such as financial inclusion and direct benefit transfer scheme.
    •Deposits in accounts opened under the PMJDY programme have crossed the Rs 30,000 crore mark.
    •As many as 20.38 crore bank accounts were opened under the PMJDY as on January 20.
    •Progress with regard to Atal Pension Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) would also be reviewed.

  2. The government will pay banks what per cent commission to unlock the country’s massive stash of gold under a new monetisation scheme?
    A. 2%
    B. 5%
    C. 2.3%
    D. 2.5%
    D. 2.5%
    Explanation:Prime Minister Narendra Modi launched the Gold Monetisation Scheme on Nov. 5 to lure an estimated 20,000 tonnes of gold hoarded in households and temples into the banking system and trim the import bill of the world’s second biggest gold consumer after China.
    •But only a few kilograms trickled in over the last two months as banks showed little interest in popularising the scheme because of negligible returns for them.
    •Now the government has decided to pay the participating banks a total commission of 2.5 per cent, including 1.5 per cent handling charges, for the first year.

  3. Private sector RBL Bank launched a platform ISC to provide end-to-end banking services to the emerging entrepreneurial community. What is the full form of ISC?
    A. Indian Startup Council
    B. India Startup Club
    C. India Startup Council
    D. India Standup Club
    B. India Startup Club
    Explanation:Through the ‘India Startup Club (ISC)’ platform, entrepreneurs can avail of personalised banking services, financial tools as well as resources and planning solutions, the bank said.
    •ISC’s banking services include business account, trade and foreign exchange services and transaction banking solutions.
    •*Rana Vikram Anand, Head-Segments and Products, Business and Branch Banking at RBL Bank.

  4. In which country Private sector lender ICICI Bank has opened a full service branch?
    A. South Africa
    B. China
    C. America
    D. Canada
    A. South Africa
    Explanation:It has entered South Africa by opening a full service branch at Sandton in Johannesburg.
    •Johannesburg branch is an authorised financial services provider in South Africa, licensed by the South African Reserve Bank, ICICI Bank said in a statement.
    •*Flashback*–Last year, ICICI Bank had sold its profit making Russian subsidiary ICICI Bank Eurasia Limited Liability Company (IBEL) to Sovcombank – marking its exit from Russia.

  5. India Post has opened exclusive counters at the business post centres in Gurgaon and Faridabad for_______ India sellers.
    A. Snapdeal
    B. Amazonn
    C. eBay
    D. None of these
    C. eBay
    Explanation:The services offered by India Post to eBay sellers for domestic and international post will include registered and speed post for international dispatch while ordinary, book and registered post services will be available for domestic dispatch.
    *Navin Mistry, head, retail exports and lifestyle sategory, eBay India.

  6. Reserve Bank has increased its shareholding in National Housing Bank by contributing how much fund towards the paid capital?
    A. Rs.1,000 crore
    B. Rs.2,000 crore
    C. Rs.5,000 crore
    D. Rs.3,000 crore
    A. Rs.1,000 crore
    Explanation:The move is aimed at facilitating NHB to expand financial operations given the demand for housing in the country. “This would help NHB to expand its financial operations as envisaged under the NHB Act, 1987.
    *Set up in 1988, NHB is an apex level institution for housing, keeping in view the non-availability of long-term finance to individual households as a major lacuna impeding progress of housing sector in the country.

  7. Which Bank’s mortgage portfolio has crossed the Rs 1 lakh crore mark, becoming the first private bank to achieve that milestone?
    A. Axis Bank
    B. Yes Bank
    C. HDFC Bank
    D. ICICI Bank
    D. ICICI Bank
    Explanation:In comparison, HDFC’s individual home loan book portfolio stands at over Rs 1.6 lakh crore while SBI’s home loan book stands at over Rs 1.7 lakh crore at the end of Q2 FY16.
    The bank also launched two new digital initiatives
    •As part of “express home loans”, ICICI Bank will provide a fully online home loan approval in just 8 working hours.
    •The second initiative will help existing home loan customers for under construction projects to get subsequent disbursements through the Bank’s ‘iLoans’ mobile application.

  8. Which Bank has opened its first branch in South Korea that is to play an important role in strengthening economic partnership between the two nations?
    A. ICICI
    B. SBI
    C. PNB
    D. HDFC
    B. SBI
    Explanation:The branch will offer a range of services to corporates in trade finance, bilateral and syndicated loans and corporate deposits etc, apart from retail banking.
    •SBI’s decision to open a branch in Seoul follows from the continuous and significant increase in trade following the Comprehensive Economic Partnership Agreement, which was signed between New Delhi and Seoul in 2009.

  9. IndusInd Bank has tied up with which online payment solution firm to help provide customers the full suite of consumer banking products online as well as payment innovations?
    A. Paytm
    B. PayU India
    C. paypal
    D. None of these
    B. PayU India
    Explanation:Through this tie-up, the bank’s experience will be leveraged to tap and redefine the rapidly growing digital financial space for both retail and business customers
    •The collaboration will help create co-branded digital consumer banking products that will revolutionise the way digital banking and payments have shaped up.
    •*Shailaz Nag, COO and Co-founder, PayU India
    •*Sumant Kathpalia, Head, Consumer Banking, IndusInd Bank.

  10. Which online financial marketplace, has launched a new ‘One Loan Two Homes’ program to help the flood-affected citizens of Chennai?
    A. Bankbazaar.com
    B. Bloomberg
    C. policybazaar.com
    D. None of these
    A. Bankbazaar.com
    Explanation:Under this scheme, the company will contribute Rs.1000 to Habitat for Humanity India on every home loan disbursed between 1 Jan – 31 Mar, 2016.
    •The money thus collected would be donated to Habitat for Humanity — non-profit organisation that builds homes and provides housing-related services to low-income, marginalized families across India – to build disaster-resilient homes for people affected by the floods.