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Current Banking Awareness Quiz – Set 7

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Hello Aspirants. Welcome to 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. Which bank recently opened a representative office in Dhaka to grab the opportunities emerging from improving bilateral relationship and trade between India and Bangladesh.
A. HDFC Bank
B. Axis Bank
C. ICICI Bank
D. SBI

B.Axis Bank
Explanation: State Bank of India is the only Indian lender present in Bangladesh with branch banking. ICICI Bank has a representative office. 


2. State Bank of India recently to defunct airline Kingfisher – has declared _____ as wilful defaulter after its grievance redressal committee rejected the arguments made by the borrower through its legal representative recently.
A. Vijay Mallya
B. Siddhartha Mallya
C. Vittal Mallya
D. Other than given options
A. Vijay Mallya
Explanation: Mallya’s role is being probed as the head of the company as initial investigations have pointed to possible misuse of bank funds. Officials said a loan taken from IDBI was shown to have been used for leasing aircraft from companies based in tax havens and high rent was paid to the companies. 


3. ____________ launched Neev fund to help low-income states. It is the first low-income state infrastructure equity partnership in London.
A. ICICI Bank
B. Axis Bank
C. SBI
D. None of these
C. SBI
Explanation: The fund aims at providing equity partnerships for small infrastructure development in sectors like water and sanitation, clean energy and urban infrastructure.  


4. Recently, which bank is included in the second schedule list, making it eligible for loans from the central bank at bank rate.
A. IDFC
B. Bandhan Bank
C. Kotak Mahindra
D. None of these
B. Bandhan Bank
Explanation: Name of Bandhan Bank Limited has been included in the Second Schedule to the Reserve Bank of India Act, 1934.
Ashok Lahiri (Chairman) HQ: Kolkata
Chandra Shekhar Ghosh (MD, CEO) 


5. __________ launched a co-branded credit card in partnership with SBI Cards and Payment Services, commemorating its 90th anniversary.
A. Axis Bank
B. HSFC Bank
C. ICICI Bank
D. Lakshmi Vilas Bank
D. Lakshmi Vilas Bank
Explanation: The Tamil Nadu-based bank had partnered with payment solutions provider SBI Cards and Payment Services to offer its first Lakshmi Vilas Bank-SBI Credit Card.
LVB Chief Operating Officer: A J Vidyasagar 


6. Shalini Warrier appointed as new COO of which bank?
A. Bandhan Bank
B. HDFC Bank
C. Standard Chartered Bank
D. Federal Bank
D. Federal Bank
Explanation: Shalini Warrier is a member of the Institute of Chartered Accountants of India being the first rank holder in 1989. She is also a Certified Associate of Indian Institute of Bankers. Having worked with Standard Chartered Bank for more than 25 years, she was the CEO and Head of Consumer Banking of SCB in Brunei. 


7. Yes Bank has signed a pact with ________ for issuing of bonds and equity with focus on green infrastructure finance.
A. NSE
B. LSE
C. FTSE
D. None of these
B. LSE
Explanation: London Stock Exchange (LSE). The private sector lender may use the agreement to raise equity capital through a global depository receipt listing on LSE. 


8. Samiran Chakraborty has been appointed as Chief Economist of ______.
A. Citi Bank
B. Federal Bank
C. ICICI Bank
D. SBI
A. Citi Bank
Explanation: Samiran Chakraborty was Managing Director (MD) and head at Standard Chartered Bank for macro research in South Asia. 


9. On which of the following rates RBI provides loan to scheduled commercial banks?
A. Repo Rate
B. Reverse Repo Rate
C. Bank Rate
D. Interest Rate
C. Bank Rate
Explanation: Bank rate is the rate charged by the central bank for lending funds to commercial banks. 


10. Which of the following methods is currently used in India to issue note?
A. Percentage Reserve System
B. Fixed Fiduciary System
C. Minimum Reserve System
D. Proportional Reserve System
C. Minimum Reserve System
Explanation: The central bank keeps a minimum reserve of gold under the law. A maximum limit of note is not fixed. After keeping the reserve any amount of money can be issued.