Current Banking Awareness Quiz – Set 51

Target- Upcoming Bank exams

Months Covered- July and August 2021

1. Shanti Lal Jain has been appointed as the MD and CEO of which bank?
   A) Union Bank of India
   B) Canara Bank
   C) IDBI Bank
   D) Indian Bank
   
   View answer

     Option D
   Explanation: Shanti Lal Jain has been appointed as the Managing Director and Chief Executive Officer of Indian Bank
2. Which organization has launched the digital lending platform ‘Digital Prayaas’ to sanction loans to entrepreneurs from low-income groups?
   A) Kotak Mahindra Bank
   B) SIDBI
   C) NABARD
   D) State Bank of India
   
   View answer

     Option B
   Explanation: The Small Industries Development Bank of India (SIDBI) has launched an app-based digital-lending platform named ‘Digital Prayaas’, to sanction loans to entrepreneurs from low-income groups.
3. Which bank has won the Most Innovative in Digital Banking honour at the Innovation in Digital Banking Awards 2021 by The Banker?
   A) ICICI Bank
   B) HDFC Bank
   C) DBS Bank
   D) State Bank of India
   
   View answer

   Option C
   Explanation: The DBS Bank has won the global accolade of ‘Most Innovative in Digital Banking’ in the Innovation in Digital Banking Awards 2021, by Financial Times publication ‘The Banker’.
4. What is the present Repo Rate?
   A) 3.50%
   B) 4.00%
   C) 4.25%
   D) 4.50%
   
   View answer

   Option B
   Explanation: Repo- 4%
5. Which bank has launched the ‘Dukandar Overdraft Scheme’ for small retailers?
   A) HDFC Bank
   B) ICICI Bank
   C) Axis Bank
   D) IndusInd Bank
   
   View answer

   Option A
   Explanation: HDFC Bank, has launched an overdraft facility for small retailers called ‘Dukandar Overdraft Scheme’, to help shopkeepers and merchants in easing their cash crunch.
6. e-RUPI launched by NPCI is built on which platform?
   A) NEFT
   B) RTGS
   C) UPI
   D) Blockchain
   
   View answer

   Option C
   Explanation: e-RUPI is a type of payment voucher with a one-time payment mechanism. It is built on the UPI platform.
7. What is the revised loan limit that a bank can sanction to Directors of other banks without board approval?
   A) Rs 1 crore
   B) Rs 2 crore
   C) Rs 5 crore
   D) Rs 10 crore
   
   View answer

   Option C
   Explanation: RBI raises loan limit of other bank directors to Rs 5 crore from Rs 25 lakh
8. What is the foreign direct investment (FDI) limit in pension fund management (PFM)?
   A) 49%
   B) 21%
   C) 74%
   D) 100%
   
   View answer

   Option C
   Explanation: The Government has increased the foreign direct investment (FDI) limit in pension fund management (PFM) to 74% from the present 49% under the national pension system (NPS).
9. What is India’s GDP growth rate projection by Ind-Ra for FY22?
   A) 9.4%
   B) 9.1%
   C) 9.6%
   D) 9.3%
   
   View answer

   Option A
   Explanation: India Ratings (Ind-Ra) has projected the GDP growth rate for India for FY22 at 9.4%.
10. Which bank has launched the ‘Pay Your Contact’ feature, for its customers, on its mobile banking app.
    A) HDFC Bank
    B) State Bank of India
    C) Indian Bank
    D) Kotak Mahindra Bank
    
    View answer

    Option D
    Explanation: Kotak Mahindra Bank (KMBL) has launched an innovative payment feature called ‘Pay Your Contact’, for its customers, on its mobile banking app.

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