Current Banking Awareness Quiz – Set 17

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. Name the mobile app started by SBI to stop the debit card details whereby the customer can activate or deactivate its debit card by just sending an SMS?
   A) SBI Debit
   B) SBI SMS
   C) SBI Quick
   D) SBI Flip
   E) SBI Deact
   
   Answer & Explanation

   C) SBI Quick
   Explanation:
   SBI Quick, a mobile APP, provides a range of services and works on the condition that the SMS/missed call should come from the mobile number registered with the bank.
   
   
   
2. In which of the public sector bank, government decided to take a move to lower its stake below 51%?
   A) IDBI Bank
   B) Bhartiya Mahila Bank
   C) Vijaya Bank
   D) EXIM Bank
   E) OBC Bank
   
   Answer & Explanation

   A) IDBI Bank
   Explanation:
   Centre planned to privatize IDBI Bank, by reducing government’s stake from 76.5 per cent to less than 51 per cent in Nov 2015
   
   
3. According to a report, India replaced China as top destination for foreign direct investment in 2015 by attracting how much worth of FDI projects?
   A) $57 billion
   B) $68 billion
   C) $53 billion
   D) $63 billion
   E) $50 billion
   
   Answer & Explanation

   D) $63 billion
   Explanation:
   In 2015, India was for the first time the leading country in the world for FDI, overtaking the US (which had $59.6 billion of greenfield FDI) and China ($56.6 billion)
   
   
4. Which insurance company joined hands with 10 cooperative banks in Maharashtra to grow its rural business?
   A) Edelweiss Tokio Life Insurance Co. Ltd
   B) Future Generali India Insurance Company
   C) IDBI Federal Life Insurance Company Ltd
   D) Tata AIA Life Insurance Company Limited
   E) AEGON Life Insurance Company Limited
   
   Answer & Explanation

   B) Future Generali India Insurance Company
   Explanation:
   The insurer, a joint venture between retail giant Future Group and Italy’s Generali, has tied up with banks such as Warana Sahakari Bank, Sangali District Central Cooperative Bank, Kolhapur District Central Cooperative Bank operating in the Kolhapur and Sangli districts.
   
   
   
5. Which state owned bank has become the top mobiliser under Gold Monetisation Scheme, launched by Modi government?
   A) Bank of Baroda
   B) State Bank of India
   C) Punjab National Bank
   D) Central Bank of India
   E) Bank of India
   
   Answer & Explanation

   C) Punjab National Bank
   Explanation:
   The bank has mobilised 1,311 kg of gold since the launch of the scheme in November 2015.
   The bank has mobilised substantial gold deposit under Short Gold Bank Term Deposit (STGBD) for three years from one of the leading trusts of India – Tirumula Tirupati Devasthanam, Tirpuati (TTD).
   
   
6. Which life insurance company joined hands with Indiabulls Housing Finance for corporate agency tie up?
   A) Birla Sun Life Insurance
   B) SBI Life Insurance
   C) ICICI Prudential Life Insurance
   D) Aviva India
   E) HDFC Life
   
   Answer & Explanation

   E) HDFC Life
   Explanation:
   As part of the tie up Indiabulls Housing Finance will distribute HDFC life retail insurance products to its customers.
   
   
   
7. Which of the following is the India’s second largest wilful defaulter after Vijay Mallya’s Kingfisher Airlines?
   A) Zoom Developers Pvt Ltd
   B) Winsome Group
   C) Deccan Chronicle Holdings Ltd
   D) Beta Naphthol
   E) Raza Textiles Limited
   
   Answer & Explanation

   B) Winsome Group
   Explanation:
   Winsome Group, largest defaulter after Vijay Mallya’s KFA has paid a fraction of loan back to lenders recently.
   
   
   
8. Name the country’s first small finance bank which started its operations recently?
   A) Capital Local Area Bank
   B) Disha Microfin Private Limited
   C) Au Financiers (India) Limited
   D) Ujjivan Financial Services
   E) Utkarsh Micro Finance
   
   Answer & Explanation

   A) Capital Local Area Bank
   Explanation:
   Capital Local Area Bank launched the country’s first small finance bank in April 2016, seven months after the Reserve Bank of India gave its in-principle approval for this new type of banks.
   Ten entities were given in-principle approval for setting up small finance bank.
   
   
   
9. In which of the following financial institution, did MUDRA Bank invested Rs 50 crore in securitization deal?
   A) Aadarsha Welfare Society
   B) Annapurna Financial Services
   C) Janalakshmi Financial Services
   D) SKS Microfinance
   E) Share Microfin Limited
   
   Answer & Explanation

   C) Janalakshmi Financial Services
   Explanation:
   This marks MUDRA’s first-ever participation in a capital market deal as the MSME (micro, small and medium enterprises)
   MUDRA Bank has been the outcome of government’s initiative to increase lending towards small businesses.
   Janalakshmi is a financial institution servicing the microfinance needs of Urban India, with a market-oriented focus.
   
   
   
10. Vijay Mallya led Kingfisher Airlines owes around Rs.7,000 crore to a consortium of _____ state-owned financial lenders.
    A) 10
    B) 16
    C) 15
    D) 17
    E) 12
    
    Answer & Explanation

    D) 17
    Explanation:
    A consortium of 17-state-owned financial lenders led by India’s largest lender State Bank of India was formed to recover the money from the airline company.