Current Banking Awareness Quiz – Set 26

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 BRICS New Development Bank has issued its first ______ denominated bonds.
   A) Uridashi
   B) Yuan
   C) Masala
   D) Rupee
   E) None of these
   
   Answer & Explanation

   B) Yuan
   Explanation:
   The New Development Bank (NDB) of the BRICS countries is set to issue its first yuan-denominated bonds with plans to release more bonds in local currencies including in Indian Rupee
   The bank’s first five-year yuan-denominated bonds, also referred as green bonds, will be issued after receiving a rating from international ratings agencies as well as getting authorities’ approval
   
   
2. Which of the following was declared as “Best Company Promoting Sports (Private sector)” in the country at the National Sports Awards 2015?
   A) Kotak Mahindra Bank
   B) Yes Bank
   C) Axis Bank
   D) HDFC Bank
   E) None of these
   
   Answer & Explanation

   B) Yes Bank
   Explanation:
   Lalita Babar was named Sportsperson of the Year in India Sports Awards.
   
   
3. Insurance regulator IRDAI has warned which insurance company for non-compliance of ‘Expenses of Management’ (EoM) norms?
   A) Sahara India Life Insurance
   B) Bajaj Allianz Life Insurance
   C) Aegon Life Insurance
   D) IDBI Federal Life Insurance
   E) Max Life Insurance
   
   Answer & Explanation

   A) Sahara India Life Insurance
   Explanation:
   Insurance regulator IRDAI has warned Sahara India Life Insurance Co for non-compliance of ‘Expenses of Management’ (EoM) norms, and asked it to bring the expenditure levels within the limits by 2016-17-end.
   
   
   
4. Which of the following schemes was replaced by Atal Pension Yojana (APY) in June 2015?
   A) Swabhiman
   B) Antyodaya Yojna
   C) National Pension System
   D) Swavalamban
   E) None of these
   
   Answer & Explanation

   D) Swavalamban
   Explanation:
   Under APY, Rs 750 crore have been collected so far with 2.8 million accounts
   Pension fund regulator Pfrda is looking at nearly doubling the Atal Pension Yojana (APY) this fiscal year by opening 5 million accounts
   
   
   
5. Who has been appointed as the CEO and MD of Airtel Payments Bank?
   A) Rakesh Arora
   B) Shashi Arora
   C) Bharti Mittal
   D) Manik Bose
   E) Raja Malik
   
   Answer & Explanation

   B) Shashi Arora
   Explanation:
   Airtel Payments Bank has appointed Shashi Arora as the CEO & Managing Director of the company, subject to the approval of the Reserve Bank of India .
   Airtel is the first among the 11applicants which were granted in-principle approvals in August 2015 to receive the final license from the central bank.
   
   
   
6. Which of the following companies has tied up with ICICI Lombard General Insurance to offer motor insurance to its customers?
   A) Audi
   B) BMW
   C) Ford
   D) Porsche
   E) Volkswagen
   
   Answer & Explanation

   B) BMW
   Explanation:
   BMW has partnered with ICICI Lombard General Insurance to provide the most comprehensive and beneficial motor insurance solutions to BMW customers.
   
   
7. HDFC Ergo general insurance company has agreed to buy which of the following company’s general insurance business for Rs 551 crore?
   A) L&T
   B) Tata
   C) ICICI Lombard
   D) Bajaj Allianz
   E) IFFCO-Tokio
   
   Answer & Explanation

   A) L&T
   Explanation:
   HDFC has agreed to pay around 1.1 times the gross premium of L&T General Insurance Company
   This will help HDFC Ergo improve its ranking in the sector from fourth largest to third largest in the private sector insurance segment.
   
   
8. The RBI has allowed Axis Bank to raise shareholding to up to ____ from the earlier limit of 49%.
   A) 54%
   B) 62%
   C) 59%
   D) 64%
   E) 70%
   
   Answer & Explanation

   B) 62%
   Explanation:
   The Reserve Bank of India (RBI) allowed the bank to raise foreign shareholding limit to 62%, from the earlier limit of 49%.
   Foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs) can now invest from the existing 49% up to 62%of the paid-up capital of Axis Bank under the Portfolio Investment Scheme (PIS)
   
   
9. Payments bank of the postal department will have how much corpus at the beginning?
   A) Rs 900 crore
   B) Rs 600 crore
   C) Rs 1000 crore
   D) Rs 800 crore
   E) Rs 700 crore
   
   Answer & Explanation

   D) Rs 800 crore
   Explanation:
   The payments bank of eth department will be functional by March 2017. It is one of the 11 applicants which got in principle approval to set up payments bank in the country.
   
   
10. Which of the following banks has reported its point of sales terminal (PoS) network as largest in the country?
    A) HDFC
    B) Punjab National Bank
    C) SBI
    D) ICICI
    E) Axis Bank
    
    Answer & Explanation

    C) SBI
    Explanation:
    SBI’s point of sales terminal network has become the largest in the country after it took over its private sector rivals. It plans to add 1 lakh PoS terminals in current fiscal ending March 2017.