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Current Banking Awareness Quiz – Set 27

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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 Department of Posts launched a logo and tagline design contest for its soon-to-be set up India Post Payments Bank on which of the following website?
    A) GovPost
    B) IndianPost
    C) MyGov
    D) PayPost
    E) None of these
    C) MyGov
    Explanation:

    The cabinet on June 1, 2016, gave its nod to setting up of the IPPB under the Department of Posts.
    The Department of Post wants to connect with and involve the people of India in designing the DNA of the India Post Payments Bank. So it launched this contest.
    The contest is open to all Indian citizens, institutions, agencies and entities for a period of one month, until July 9, 2016.

  2. To provide loans to Indo-Spanish joint ventures and local enterprises in India, State Bank of India (SBI) has signed a memorandum of agreement with Spain’s which bank to enhance business synergies?
    A) Caja Madrid
    B) CaixaBank
    C) Liberbank
    D) Gallego bank
    E) None of these
    B) CaixaBank
    Explanation:

    As per the agreement, they will expand banks’ guarantee transaction businesses by jointly providing credit to Indian-Spanish joint ventures and Indian local enterprises
    The banks will collaborate in areas of mutual interest such as syndicated loan business, guarantee transactions, trade finance and export credit agency finance, infrastructure finance and networking services, among others.

  3. Recently an Indian bank launched next generation features on its app ‘iMobile’ which will enable customers to instantly pay taxes and book railway tickets within the app. Name the bank.
    A) Federal Bank
    B) Punjab National Bank
    C) Kotak Mahindra Bank
    D) ICICI Bank
    E) Bandhan Bank
    D) ICICI Bank
    Explanation:

    New features will enable customers to instantly pay taxes and book railway tickets within the app. iMobile users will also be able to purchase travel & motor insurance as well as buy mutual funds from 19 asset management companies.

  4. According to HSBC, India is expected to contribute how much of the world GDP by the middle of next decade?
    A) 4.3%
    B) 4.9%
    C) 5.2%
    D) 3.4%
    E) None of these
    B) 4.9%
    Explanation:

    India is expected to equal China’s 4.9% share of world GDP in 2005 by the middle of next decade and if the country grows faster, the date can be advanced.
    India’s economy grew a stronger-than-expected 7.9% in the March quarter, making it the fastest growing major economy.
    HSBC said that if India grows at 8% rate, it would achieve the 4.9% share by 2027.

  5. Which payment company launched a new POS terminal which seeks to ease payments across millions of small merchant outlets across India?
    A) PayUmoney
    B) Udio
    C) Paytm
    D) MoneyGram
    E) None of these
    A) PayUmoney
    Explanation:

    It can allow even the smallest of merchants to start accepting card based payments. It can accept all credit/debit cards.
    The POS terminal is easy to set up, can be operated using a pre- or post-paid SIM, and does away with the use of paper receipts—making it cost & battery effective, and, of course, very environment friendly. With a simple and hassle-free documentation policy, a merchant can start using a PayUmoney POS terminal within 48 hours of signing up for the service.

  6. Which of the following company launched “Receive and Win” campaign for Ramzan?
    A) Mobikwik
    B) Freecharge
    C) Paytm
    D) MoneyGram
    E) Udio
    D) MoneyGram
    Explanation:

    Global money transfer service provider, MoneyGram, has rolled out Receive & Win, a month-long a promotional campaign set to run throughout the Ramadan period, beginning 6 June 2016. The exercise affords customers the opportunity to win an all-expense paid Umrah trip for two.
    The promotional push by MoneyGram is set to run in the Indian states of Telangana, Bihar, Uttar Pradesh, Gujarat, and Kerala.

  7. Name the newly appointed MD of State Bank of Mysore.
    A) NK Chari
    B) Romil Bhattacharya
    C) Surya Kumar
    D) CR Sasikumar
    E) DP Sardana
    A) NK Chari
    Explanation:

    N.K.Chari, the new Managing Director of State Bank of Mysore, assumed office on May 30. Prior to his new position, he was the Deputy Managing Director of State Bank of India.

  8. Name the newly appointed MD of State Bank of Travancore.
    A) PN Naidu
    B) Naresh Sharma
    C) NK Chari
    D) CR Sasikumar
    E) Ravi Verma
    D) CR Sasikumar
    Explanation:

    CR Sasikumar assumed the charge of Managing Director of State Bank of Travancore (SBT), one of the associate banks of State Bank of India (SBI), on June 1.

  9. Which of the following international organization has lead the race to buy stake in government controlled IDBI bank?
    A) Asian Development Bank
    B) Commonwealth Development Corporation
    C) International Finance Corporation
    D) GIC of Singapore
    E) None of these
    C) International Finance Corporation
    Explanation:

    World Bank’s private sector lending arm International Finance Corporation (IFC) has emerged as the top contender to buy around 15 per cent in government controlled IDBI Bank, even as talks have been held with at least three other players-GIC of Singapore, Asian Development Bank and Commonwealth Development Corporation.
    IFC is World Bank arm and is looking for a greater say in running IDBI.

  10. Government has asked banks to increase the coverage under which of the following schemes?
    A) Atal Pension Yojana
    B) Jan Dhan Yojana
    C) Suraksha Bima Yojana
    D) Both A and C
    E) None of these
    A) Atal pension Yojana
    Explanation:

    Government has asked banks to take steps to increase coverage under the Atal pension scheme as banks failed in meeting the sales target for the social security scheme in the last financial year.
    All the large PSBs, including State Bank of India, fell short of the target by a wide margin.