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.
- Which of the following private banks has signed an agreement with Reliance Jio Money for One-Click payment service ?
A) Laxmi Vilas Bank
B) Federal Bank
C) South Indian Bank
D) Karnataka Bank
E) Karur Vysya BankB) Federal bank
Explanation:
Federal bank has signed an agreement with Reliance Jio Money for One-Click payment service. Reliance Jio money is a wallet application that will be launched soon for mobile devices where Federal bank will enable a direct payment option for its customers. - Which of the following General Insurance Company has entered into agreement with Shamrao Vithal Co-operative (SVC) Bank for bancassurance business?
A) Reliance General Insurance Co. Ltd.
B) L&T General Insurance Co. Ltd.
C) HDFC ERGO General Insurance Co. Ltd.
D) Future Generali India Insurance Co. Ltd.
E) Tata AIG General Insurance Co. Ltd.C) HDFC ERGO General Insurance Co. Ltd.
Explanation:
HDFC ERGO General Insurance Company and Shamrao Vithal Co-operative (SVC) Bank announced their bancassurance agency partnership to provide range of non-life insurance offerings to the customers of the bank.
The partnership combines HDFC ERGO’s experience in introducing innovative non-life insurance products with SVC Bank’s customer base across various states. - The Reserve Bank of India imposed how much penalty on Bank of Baroda in the alleged Rs 6000 crore forex related irregularities that came to light in October last year?
A) Rs 5 crore
B) Rs 7 crore
C) Rs 5.5 crore
D) Rs 6.2 crore
E) Rs 6 croreA) Rs 5 crore
Explanation:
The RBI carried out an inspection after Rs 6,100 crore import remittances were effected by Bank of Baroda’s Ashok Vihar branch in New Delhi. - Which of the following banks have become the first banks to join SWIFT’s global payments initiative?
A) ICICI and HDFC Bank
B) IndusInd Bank and SBI
C) PNB and Federal Bank
D) Axis Bank and ICICI
E) ICICI and SBID) Axis Bank and ICICI
Explanation:
Global payments leader SWIFT said that ICICI Bank and Axis Bank have become the first domestic lenders to sign up for its global payments innovation initiative, which already has over 70 other leading banks globally.
The initiative aims to enhance cross-border payments by leveraging Swift’s messaging platform and global reach and in the first phase, the initiative will focus on business-to-business payments. - RBI has imposed how much fine on 13 banks for violation of FEMA and lapses in know your client (KYC) rules?
A) Rs 24 crore
B) Rs 25 crore
C) Rs 27 crore
D) Rs 28 crore
E) Rs 29 croreC) Rs 27 crore
Explanation:
The Reserve Bank of India has come down hard on 13 banks and fined them for Rs 27 crore for violation of FEMA and lapses in know your client (KYC) rules. - RBI has imposed a fine of Rs 1 crore on which of the following banks for flouting bill discounting norms?
A) Syndicate Bank
B) United Bank of India
C) Indian Overseas Bank
D) UCO Bank
E) Vijaya BankD) UCO Bank
Explanation:
Reserve Bank of India has told state-run Uco Bank to pay Rs 1 crore penalty for flouting bill discounting norms which allowed current account holders siphon out funds. - A payments company OKI installed 600 automatic teller machines with cash recycling abilities for State Bank of India. OKI has its headquarters in
A) England
B) Singapore
C) USA
D) Malaysia
E) JapanE) Japan
Explanation:
The company which is headquartered in Japan and operates out of Mumbai in India manufactures ATMs which work with recyclable cash and has both cash acceptance mechanism along with cash dispensing in their teller machines.
Indian banks which mostly deploy standalone ATMs have very recently taken to the new technology of machines with both depositing as well as dispensing abilities. - Recently, Yeldi Softcom received a licence for RBI to set up which of the following?
A) open wallet
B) semi-closed wallet
C) closed wallet
D) semi-open wallet
E) None of theseB) semi-closed wallet
Explanation:
Yeldi Softcom received its semi-closed wallet license on Wednesday from the Reserve Bank of India. This opens up a new league of possibilities in terms of the products that could be launched by Yeldi Softcom to bring in further avenues to carry out cashless transactions.
Semi-closed wallet is a payment instrument that is accepted by a predefined set of merchants that have been contracted specifically by the issuer of the semi-closed wallet. - What is the initial minimum paid-up equity capital required for new on-tap license to set up private bank as announced by RBI?
A) Rs 5 crore
B) Rs 100 crore
C) Rs 500 crore
D) Rs 50 crore
E) Rs 200 croreC) Rs 500 crore
Explanation:
The Reserve Bank of India released norms for on-tap permits for private sector banks and said the validity of the in-principle approval issued by the RBI will be 18 months from the date of granting in-principle approval.
1. The initial minimum paid-up voting equity capital for a bank shall be 500 crore rupees. Thereafter, the bank shall have a minimum net worth of 500 crore rupees at all times.
2. Resident individuals and professionals having 10 years of experience in banking and finance at a senior level are also eligible to promote universal banks. - Which of the following banks has teamed up with Apollo to set up asset reconstruction company (ARC)?
A) SBI
B) Punjab National Bank
C) Axis Bank
D) ICICI Bank
E) Both A and DD) ICICI Bank
Explanation:
With the banking sector buffeted by bad loans, the country’s largest private lender ICICI Bank teamed up with private equity major Apollo Global Management to launch an asset reconstruction company.
ICICI and Apollo have signed a memorandum of understanding to set up the ARC, which will acquire debt from lenders and also take equity stakes in borrowers, a bank statement read.
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