Current Banking Awareness Quiz – Set 62

Target- RRB PO and Clerk Mains

Months Covered- January 2021 to September 2021

1. The Reserve Bank of India has introduced Legal Entity Identifier (LEI) for all payment transactions of value _________ and above undertaken by entities (non- individuals) via Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT).
   A) Rs 100 crore
   B) Rs 50 crore
   C) Rs 25 crore
   D) Rs 75 crore
   
   View answer

     Option B
   Explanation: The Reserve Bank of India has introduced Legal Entity Identifier (LEI) for all payment transactions of value Rs 50 crore and above undertaken by entities (non-individuals) via Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT). The Legal Entity Identifier (LEI) is a 20-digit number used to uniquely identify parties to financial transactions worldwide.
2. Who is the Chairperson of the expert committee formed by RBI on Primary (Urban) Co-operative Banks (UCBs) to examine issues and suggest a road map for strengthening the sector?
   A) Shri N. S. Vishwanathan
   B) Shri Sudhir Shrivastava
   C) Shri K.V. Kamath
   D) Prof. D.B. Phatak
   
   View answer

     Option A
   Explanation: Shri N. S. Vishwanathan
3. Which bank has launched mentoring programme named ‘SmartUp Unnati’, to support women entrepreneurs?
   A) Axis Bank
   B) HDFC Bank
   C) ICICI Bank
   D) Reserve Bank of India
   
   View answer

   Option B
   Explanation: HDFC Bank has launched a dedicated mentoring programme ‘SmartUp Unnati’, to support women entrepreneurs.
4. What is the new Ways and Means Advances (WMA) limit for states/UTs?
   A) Rs 32,225 crore
   B) Rs 32,325 crore
   C) Rs 47,010 crore
   D) Rs 47,110 crore
   
   View answer

   Option C
   Explanation: The Reserve Bank of India has increased the limit for Way and Means Advances (WMA) for the State Governments/UTs from Rs. 32,225 crore (fixed in February 2016) to Rs. 47,010 crore based on the recommendation of a committee headed by Shri Sudhir Shrivastava.
5. Who has been appointed as the CEO of the proposed National Asset Reconstruction Company Ltd.?
   A) Padmakumar M Nair
   B) Shrimohan Yadav
   C) Tapan Ray
   D) Dr. Harsh Vardhan
   
   View answer

   Option A
   Explanation: Padmakumar M Nair has been appointed as the CEO of the proposed National Asset Reconstruction Company Ltd. Presently Padmakumar is the Chief General Manager of Stressed Assets Resolution Group at SBI.
6. What is the rank of RBI with respect to other central banks in the world for surplus transfer to its government as a percentage to GDP in 2020-21?
   A) 2nd
   B) 3rd
   C) 4th
   D) 5th
   
   View answer

   Option A
   Explanation: The Reserve Bank of India (RBI) was second in terms of reserves transferred to the government as a percentage of gross domestic product (GDP) for the fiscal year 2020-21. Turkey has been ranked first. RBI has transferred Rs 99,122-crore surplus to the government for FY21 which is 73% higher than the Rs 57,128 crore paid out in 2019-20. The surplus transferred by RBI constitutes 0.44% of GDP, while that of the Central Bank of the Republic of Turkey constitutes 0.5% of GDP.
7. World Bank has expanded its Coronavirus Vaccine Funding to ______ to be used through 2022.
   A) USD 12 billion
   B) USD 30 billion
   C) USD 15 billion
   D) USD 20 billion
   
   View answer

   Option D
   Explanation: World Bank expands Coronavirus Vaccine Funding to $20 billion to be used through 2022. Earlier the World Bank had announced $12 billion for the same.
8. Whhich bank has been recognized as the ‘Most Innovative in Digital Banking’ globally by ‘The Banker’?
   A) IDFC First Bank
   B) HDFC Bank
   C) Kotak Mahindra Bank
   D) DBS Bank
   
   View answer

   Option D
   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’.
9. Which bank has recently partnered with National Small Industries Corporation (NSIC) to provide credit support to MSMEs?
   A) State Bank of India
   B) Punjab National Bank
   C) HDFC Bank
   D) Axis Bank
   
   View answer

   Option C
   Explanation: HDFC Bank has signed a memorandum of understanding (MoU) with the National Small Industries Corporation (NSIC) for providing credit support to the micro, small and medium enterprise (MSME) sector.
10. What is India’s GDP growth rate projection as per Morgan Stanley for 2021-22?
    A) 9.50%
    B) 10.50%
    C) 9.40%
    D) 10.00%
    
    View answer

    Option B
    Explanation: 10.50%

Read More Banking Awareness Topics

Attempt Banking Awareness Quiz

Attempt Current Banking Awareness Quiz