Current Banking Awareness Quiz – Set 71

Target- IBPS PO Mains

Months Covered- July 2021 to January 2022

1. What is the FDI limit in Pension Fund Management under NPS?
   A) 49%
   B) 26%
   C) 51%
   D) 74%
   
   View answer

     Option D
   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).
2. What is the What is the Mudra Loan target set by central government for FY22?
   A) Rs 5 trillion
   B) Rs 3 trillion
   C) Rs 7 trillion
   D) Rs 4 trillion
   
   View answer

     Option B
   Explanation: Rs 3 trillion
3. What is the limit for collateral free loans to Self Help Group?
   A) Rs 10 lakh
   B) Rs 5 lakh
   C) Rs 20 lakh
   D) Rs 15 lakh
   
   View answer

   Option C
   Explanation: The Reserve Bank of India has raised the limit for collateral free loans to Self-Help Groups (SHG) under the DAY-NRLM (Deendayal Antyodaya Yojana – National Rural Livelihoods Mission) from Rs. 10 lakhs to Rs. 20 Lakhs.
4. What is the revised loan limit that a bank can sanction to Directors of other banks without requirement of board approval?
   A) Rs 1 crore
   B) Rs 2.5 crore
   C) Rs 5 crore
   D) Rs 7.5 crore
   
   View answer

   Option C
   Explanation: The Reserve Bank of India has raised the limit on loans that can be sanctioned by a bank to any director or associates of other banks, without board approval to Rs 5 crore. Earlier this limit was Rs 25 lakh.
5. Which bank has partnered with BharatPe for PoS business of Bharat Pe named BharatSwipe?
   A) Axis Bank
   B) Bank of Baroda
   C) Canara Bank
   D) HDFC Bank
   
   View answer

   Option A
   Explanation: Axis Bank has partnered with BharatPe for the point of sale (PoS) business of BharatPe named BharatSwipe.
6. Which company has launched the pulse report on the evolution of digital payments?
   A) Paytm
   B) PhonePe
   C) Amazon India
   D) Google India
   
   View answer

   Option B
   Explanation: PhonePe has launched a platform named PhonePe Pulse. Pulse is India’s first interactive platform with data insights and trends on digital payments. The platform shows more than 2000 crore digital transactions by customers on an interactive map of India. PhonePe also launched the Pulse Report, an in-depth study on the evolution of digital payments over the past 5 years.
7. RBI has recently superseded the Board of Directors of two NBFCs named Srei Infrastructure Finance Limited (SIFL) and Srei Equipment Finance Limited (SEFL). Who amongst the following was appointed as the administrator of the two NBFCs after the respective board of directors were superseded by RBI?
   A) A.K. Das
   B) Jai Bhagwan Bhoria
   C) Rajneesh Sharma
   D) M.K. Khanna
   
   View answer

   Option C
   Explanation: RBI superseded the board of directors of SIFL and SEFL; appoints Rajneesh Sharma as administrator
8. ADB and which other organization have partnered for the ‘WePOWER India’ initiative to increase women workforce in energy sector?
   A) Microsoft
   B) World Bank
   C) Google
   D) New Development Bank
   
   View answer

   Option B
   Explanation: World Bank and ADB launches ‘WePOWER India’ to increase women workforce in energy sector. WePOWER is a network of 28 energy sector utilities and organizations.
9. HDFC Bank has partnered with which bank to provide banking services in rural areas?
   A) Airtel Payments Bank
   B) India Post Payments Bank
   C) Ujjivan Small Finance Bank
   D) Utkarsh Small Finance Bank
   
   View answer

   Option B
   Explanation: HDFC Bank tie-up with IPPB to offer banking services in rural areas
10. As per data of Ministry of Finance, the total deposits in bank accounts opened under the Pradhan Mantri Jan Dhan Yojana (PMJDY) scheme have crossed which of the following mark at the end of December 2021?
    A) Rs 1 lakh crore
    B) Rs 1.5 lakh crore
    C) Rs 2 lakh crore
    D) Rs 2.5 crore
    
    View answer

    Option B
    Explanation: As per the latest data of finance ministry, the deposits in bank accounts opened under the Pradhan Mantri Jan Dhan Yojana (PMJDY) scheme have crossed Rs 1.5 lakh crore mark.

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