Current Banking Awareness Quiz – Set 61

Target- RRB PO and Clerk Mains

Months Covered- June, August 2021 and September 2021

1. What is the eligibility age for investing in the National Pension System (NPS)?
   A) 18 years to 65 years
   B) 21 years to 65 years
   C) 18 years to 70 years
   D) 21 years to 75 years
   
   View answer

     Option C
   Explanation: Earlier the eligible age to invest in NPS was 18-65 years which has now been revised to 18-70 years.
2. V. Vaidyanathan is the MD and CEO of which bank?
   A) Standard Chartered Bank
   B) Axis Bank
   C) IDFC First Bank
   D) Kotak Mahindra Bank
   
   View answer

     Option C
   Explanation: The Reserve Bank of India (RBI) has granted its approval for re-appointment of V. Vaidyanathan as the Managing Director & Chief Executive Officer (‘MD & CEO’) of the IDFC First Bank.
3. Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman has unveiled the fourth edition of the Public Sector Bank (PSB) Reforms Agenda ‘EASE 4.0’ for 2021-22. What is the full form of EASE?
   A) Easy Access of Service Excelled
   B) Enhanced Accessible Service Experience
   C) Ease of Access of Service Experience
   D) Enhanced Access & Service Excellence
   
   View answer

   Option D
   Explanation: EASE stands for- Enhanced Access & Service Excellence (EASE)
4. What amount of loan agreement has Asian Development Bank (ADB) approved as additional financing to scale up the improvement of rural connectivity to help boost the rural economy in the state of Maharashtra?
   A) USD 112 million
   B) USD 250 million
   C) USD 500 million
   D) USD 300 million
   
   View answer

   Option D
   Explanation: ADB approves $300 million loan to expand rural connectivity in Maharashtra
5. What is the corpus of ‘Ubharte Sitaare Fund (USF)’?
   A) Rs 100 crore
   B) Rs 250 crore
   C) Rs 550 crore
   D) Rs 750 crore
   
   View answer

   Option B
   Explanation: The corpus of the Fund is Rs. 250 crore with a greenshoe option of Rs. 250 crore. The contribution of SIDBI and India Exim Bank is Rs 40 crore each.
6. What is India’s GDP growth rate projection for Calendar Year 2021 as per Moody’s Investors Service?
   A) 9.0%
   B) 9.6%
   C) 7.0%
   D) 7.6%
   
   View answer

   Option B
   Explanation: Moody’s Retains India’s GDP growth forecast to 9.6% for CY2021 and 7% for CY2022
7. Which institution will take over the Punjab & Maharashtra Co-operative Bank Ltd., Mumbai (PMC) and re-launch it as a Smal Finance Bank?
   A) Aditya Birla Capital Limited
   B) Edelweiss Financial Services Limited
   C) Centrum Financial Services Limited
   D) Bajaj Finserv Limited
   
   View answer

   Option C
   Explanation: Centrum Financial Services Limited will take over the Punjab & Maharashtra Co-operative Bank Ltd., Mumbai (PMC) and re-launch it as a Small Finance Bank.
8. Maximum limit for cash based fund transfer (per transaction) under the Indo-Nepal Remittance Facility Scheme?
   A) Rs 25,000
   B) Rs 50,000
   C) Rs 1 lakh
   D) Rs 2 lakh
   
   View answer

   Option B
   Explanation: The Reserve Bank of India has increased the limit of fund transfer under the Indo-Nepal Remittance Facility Scheme from Rs 50,000 per transaction to Rs 2 lakh per transaction. Earlier there was a ceiling limit of 12 transactions in a year. Now, this limit has also been removed. However, for cash-based transfers under the Indo-Nepal Remittance Facility, the per transaction limit of Rs 50,000 will still be present with a maximum number of transfers in a year allowed at 12.
9. What amount of On-Tap Liquidity Window has RBI announced for contact-intensive sectors?
   A) Rs 10,000 crore
   B) Rs 15,000 crore
   C) Rs 20,000 crore
   D) Rs 25,000 crore
   
   View answer

   Option B
   Explanation: The Reserve Bank of India has launched a separate liquidity window of Rs. 15,000 crore certain contact-intensive sectors.
10. Which bank has launched WisePOSGo POS device?
    A) State Bank of India
    B) Punjab National Bank
    C) Indian Bank
    D) Karnataka Bank
    
    View answer

    Option D
    Explanation: The Karnataka Bank has launched an all-in-one Point-of-Sales (POS) swiping machine dubbed as ‘WisePOSGo’, for its merchant customers to process business payments.

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