Current Banking Awareness Quiz – Set 54

Target- Upcoming Bank exams

Months Covered- June, July and August 2021

1. With effect from August 01, 2021, RBI has allowed banks to increase in ATM financial transactions interchange fee per transaction from _____ to _________.
   A) Rs 15 to 16
   B) Rs 5 to 6
   C) Rs 15 to 17
   D) Rs 5 to 7
   
   View answer

     Option C
   Explanation: Allow increase in interchange fee per transaction from ₹15 to ₹17 for financial transactions and from ₹5 to ₹6 for non-financial transactions in all centres.
2. The Financial Conduct Authority (FCA), UK has announced that _______ will either cease to be provided by any administrator or no longer be a representative rate.
   A) Euribor
   B) SOFR
   C) MIBOR
   D) LIBOR
   
   View answer

     Option D
   Explanation: The Financial Conduct Authority (FCA), UK has announced on March 05, 2021 that LIBOR will either cease to be provided by any administrator or no longer be a representative rate
3. What is the limit for cash transaction (per transaction limit) under the Indo-Nepal Remittance Facility Scheme?
   A) Rs 50,000
   B) Rs 2 lakh
   C) Rs 1 lakh
   D) Rs 10,000
   
   View answer

   Option A
   Explanation: For cash transaction- Rs 50000/transaction; For online= Rs 2 lakh/transaction
4. What is the present Bank Rate?
   A) 4.25%
   B) 3.35%
   C) 4.00%
   D) 3.25%
   
   View answer

   Option A
   Explanation: Bank Rate and MSF are at 4.25%
5. Atul Kumar Goel is the MD and CEO of which bank?
   A) Bank Of Maharashtra
   B) UCO Bank
   C) Punjab National Bank
   D) Canara Bank
   
   View answer

   Option B
   Explanation: The Appointments Committee of the Cabinet (ACC) has extended the tenure of three managing directors and chief executive officers (MDs and CEOs). These are:S S Mallikarjuna Rao– MD and CEO of Punjab National Bank; A S Rajeev– MD and CEO of Bank of Maharashtra; Atul Kumar Goel- MD and CEO of UCO Bank
6. Which is the bank at second place in the EASE Reforms Index Award 2021 (EASE 3.0 Awards)?
   A) Bank of Baroda
   B) Union Bank of India
   C) Punjab National Bank
   D) Canara Bank
   
   View answer

   Option A
   Explanation: State Bank of India is the Overall winner of the EASE Reforms Index Award 2021 (EASE 3.0 Awards). Bank of Baroda is second and Union Bank of India is third.
7. Paytm has partnered with which bank to build comprehensive solutions across payment gateway?
   A) ICICI Bank
   B) IndusInd Bank
   C) Axis Bank
   D) HDFC Bank
   
   View answer

   Option D
   Explanation: HDFC Bank and Paytm have partnered to build comprehensive solutions across payment gateway, point of sale machines and credit products. This includes Paytm Postpaid which is a Buy Now Pay Later (BNPL) solution, Eazy EMI and Flexi Pay.
8. How many banks in India have partnered to set up a new fintech firm named ‘IBBIC Pvt Ltd (IBBIC)’?
   A) 10
   B) 14
   C) 16
   D) 18
   
   View answer

   Option D
   Explanation: 18 banks in India have come together to set up a new fintech firm named ‘IBBIC Pvt Ltd (IBBIC)’, to make use of blockchain technology for the financial services sector.
9. What is the GDP growth rate of India in FY23 as per IMF?
   A) 8.5%
   B) 9.5%
   C) 7.5%
   D) 6.5%
   
   View answer

   Option A
   Explanation: GDP of India in FY22 – 9.5%; GDP of India in FY23 – 8.5%
10. Housing finance companies (HFCs) with asset size greater than _______ are allowed to use SARFAESI law to recover dues?
    A) Rs 20 crore
    B) Rs 50 crore
    C) Rs 100 crore
    D) Rs 500 crore
    
    View answer

    Option C
    Explanation: Ministry of Finance has allowed housing finance companies (HFCs) with asset size of over Rs. 100 crore to recover the dues using SARFAESI law. Earlier HFCs with assets over Rs. 500 crore (and notified by Finance Ministry) were allowed to use SARFAESI law to recover dues.

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