Current Affairs PDF Sales

Current Banking Awareness Quiz – Set 2

AffairsCloud YouTube Channel - Click Here

AffairsCloud APP Click Here

Hello Aspirants. Welcome to Current Banking Awareness Quiz in AffairsCloud.com. Here we are creating quiz covering important questions which are common for all the bank exams and other competitive exams.

  1. ___, Nepal Rastra Bank ink MoU for supervisory information exchange
    a. RBI
    b. SBI
    c. PNB
    d. NABARD
    [su_accordion]
    a. RBI
    * The Nepal Rastra Bank was established in April 26, 1956 and is the central bank of Nepal. It supervises the banks and financial institutions in Nepal and guides monetary policy.


    [/su_accordion]
  2. Union Cabinet allows 100 per cent FDI under automatic route for _____ label ATMs
    a. White
    b. Black
    c. Red
    d. Green
    [su_accordion]
    b. White
    * Traditionally, Automated Teller Machines (ATMs) have respective bank’s logo. So just by looking, this is SBI’s ATM, this is ICICI’s ATM and so on.
    But White label ATM doesn’t have such Bank logo, hence called White label ATMs.
    RBI has given license / permission to non-bank entities to open such ATMs.
    Any non-bank entity with a minimum net worth of Rs.100 crore, can apply for white label ATMs. (not just NBFC, any non-bank entity can apply.)
    Late 80s: first ATM in India; 2012: RBI issues guideline for White label; 2013: RBI gives license/permission.
    Tata Communications Payment Solutions Limited =the first company to get RBI’s permission to open White label ATMs.
    They started their chain under brandname “Indicash”.
    Other White label= Muthoot Finance, Srei Infra., Vakrangee Software, Prizm Payments, AGS. More than 15 companies given such permission.


    [/su_accordion]
  3. ____ to join UN’s Better Than Cash Alliance to achieve financial inclusion
    a. India
    b. Japan
    c. Brazil
    d. Pakistan[su_accordion]
    a. India
    * The Better Than Cash Alliance(BTCA) is a group of businesses, government organizations, and philanthropic foundations that are attempting to move the global economy to a cashless system. Its members include the Bill and Melinda Gates Foundation, Citi, the Ford Foundation, MasterCard, Omidyar Network, USAID, United Nations Capital Development Fund, and Visa Inc.. UNCDF serves as the secretariat to BTCA.


    [/su_accordion]
  4. Government of India Issues Norms for Selection of CEOs and MDs of Smaller PSU Banks
    a. Government of India
    b. RBI
    c. NABARD
    d. World Bank[su_accordion]
    a. Government of India
    * After the irk raised due to appointment of two private sector bankers to head Bank of Baroda and Canara Bank the government has issued norms for selection of MDs and CEOs in Mid and Small Public Sector Banks (PSBs) on 20 August 2015. The guideline was issued after the approval by the Appointments Committee of Cabinet (ACC) for selection of MDs & CEOs in Public Sector Banks (PSBs) other than five large Public Sector Banks.


    [/su_accordion]
  5. ___ launches maiden unit linked insurance plan (ULIP)
    a. LIC
    b. SBI
    c. PNB
    d. RBI[su_accordion]
    a. LIC
    * A Unit Linked Insurance Plan (ULIP) is a product offered by insurance companies that unlike a pure insurance policy gives investors the benefits of both insurance and investment under a single integrated plan.


    [/su_accordion]
  6. ___ launches mobile wallet app ‘Buddy’
    a. SBI
    b. RBI
    c. PNB
    d. NABARD[su_accordion]
    a. SBI
    * India’s largest banking entity State Bank of India (SBI) launched a Mobile wallet application dubbed as ‘SBI Buddy’. It was launched by Union Finance Minister Arun Jaitley at a function held at State Bank Bhavan, Nariman Point in Mumbai. SBI’s first female Chairperson Arundhati Bhattacharya was also present on the occasion.


    [/su_accordion]
  7. ____ appointed Kishor Piraji Kharat as its MD and CEO
    a. IDBI
    b. PNB
    c. SBI
    d. Syndicate Bank[su_accordion]
    a. IDBI
    * Industrial Development Bank of India (IDBI) has appointed Kishor Piraji Kharat as its new Managing Director & Chief Executive Officer. Kishor Kharat is a graduate in commerce and law who is also a certified associate of the Indian Institute of Bankers. He had earlier assumed post of executive director of Union Bank of India and before that he had served Bank of Baroda for three decades. He has wide exposure across various verticals of banking, international business, including credit, information technology and general administration in India as well as overseas.


    [/su_accordion]
  8. RBI suspended licence of _____ non-banking finance companies (NBFCs)
    a. Seven
    b. Nine
    c. Eight
    d. Five[su_accordion]
    a. Seven
    * On 17 August the Reserve Bank of India (RBI) suspends licence of seven non-banking finance companies (NBFCs). The seven NBFCs whose licences were suspended are – Religare Finance, Artisans Micro Finance, Eden Trade & Commerce, RCS Parivar Finance, Nott Investments, Dewra Stocks & Securities, Swetasree Finance. Being a dormant entity, Religare Finance licence was suspended by RBI as it did not conducted lending operation for long period of time.


    [/su_accordion]
  9. Union Government appoints two private sector professionals to head BoB, Canara Bank
    a. BoB , Canara Bank
    b. PNB , SBI
    c. SBI . IDBI
    d. NABARD, SBI[su_accordion]
    a. BoB , Canara Bank
    * Union government has appointed two private sector banking professionals as Managing Director (MD) and Chief Executive Officer of Bank of Baroda (BoB) and Canara Bank. This is the first time that Union government has appointed the two candidates from the private sector to head the Public Sector Banks (PSBs). Appointed persons are P S jayakumar: MD and CEO of Bank of Baroda (BoB). Rakesh Sharma: MD and CEO of Canara Bank. Apart from these appointments, Union Government also appointed MD and CEO of other three PSBs who are serving government officials. They are MO Rego: MD and CEO of Bank of India (BoI). Kishore Kharat Piraji: MD and CEO IDBI Bank. Usha Ananthasubramanian: MD and CEO of Punjab National Bank (PNB).


    [/su_accordion]
  10. _____ unveils Indradhanush Mission for PSBs
    a. RBI
    b. Union Government
    c. NABARD
    d. World Bank[su_accordion]
    b. Union Government
    * It seeks to achieve the objective of economic growth revival through improving credit and minimising the political interference in the functioning of PSBs.
    Appointments: Selection of non-executive chairman in remaining 6 state owned PSBs till November 2015. Appointing MD & CEO of two PSBs as early as possible.
    Bank Board Bureau (BBB): It will be a body of ’eminent’ professionals to be selected within 6 months i.e. February 2015. It will become functional from Financial year 2016-17 i.e. form 1st April 2016.
    Capitalisation: Infuse 25,000 crore rupees of capital into debt-laden banks in this fiscal in phased manner. Out of this 20,000 crore rupees would be injected in August 2015. Rest 5,000 crore rupees will be performance based allocation to be allocated in the last quarter of 2016.
    De-stressing PSBs: To develop vibrant debt market for PSBs in order to reduce lending pressure on banks. Strengthen asset reconstruction of companies.
    Empowerment: Provide greater flexibility in hiring of manpower in PSBs.
    Framework of accountability: It will seek to streamline vigilance process for quick action in case major frauds and also include connivance of staff.
    Governance reforms in PSBs: Next Gyan Sangam (also known as the Banker’s Retreat) will be held from 14 to 16 January 2016. Employee Stock Option Plan (ESOP) will be initiated for top management.


    [/su_accordion]