Exercise :: Banking - Latest Current Affairs
- Banking - Latest Current Affairs
| 1. | Which among the following was the first bank purely managed by Indians? |
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Answer: Option B Explanation: The first bank purely managed by Indians was Punjab National Bank, established in Lahore in 1895.
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| 2. | Along with which bank, the Common Services Centres (CSCs) launched a co-branded 'Small Business Money-Back Credit Card'? |
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Answer: Option D Explanation: HDFC Bank and Common Services Centres (CSCs) launched a co-branded 'Small Business Money-Back Credit Card'. For small traders and village-level entrepreneurs (VLEs). The credit card is designed for VLEs and VLE-sourced customers. The users give easy access to credit for their day-to-day business expenses, according to a statement. The card launched by HDFC Bank MD Aditya Puri and CSC Chief Dinesh Kumar Tyagi. Around ₹70,000 crore worth of business is transacted through the network of CSCs which apart from providing a platform for essential government and public utility services.
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| 3. | Who is the CEO of Kotak Mahindra Bank? |
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Answer: Option A Explanation: It is responsible for driving and overseeing Kotak Mahindra Group's growth charter. Uday Kotak, Founder and Managing Director & CEO of Kotak Mahindra Bank, has led the group in a broad range of financial services for over 30 years.
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| 4. | For how many banks, RBI fined for violating certain regulatory guidelines? |
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Answer: Option B Explanation: The Reserve Bank of India (RBI) imposed fine on State Bank of India (SBI) and Union Bank of India for violating certain regulatory guidelines. RBI fined Rs.7 crore as SBI did not comply with the directions issued by the RBI on Income Recognition and Asset Classification (IRAC) norms, code of conduct for opening and operating current accounts and reporting of data on Central Repository of Information on Large Credits (CRILC), and fraud risk management and classification and reporting of frauds. RBI also fined Rs.10 lakh on Union Bank for non-compliance with the directions on the cybersecurity framework in banks issued by the RBI. The RBI accused Union Bank of India that it failed to carry out the cybersecurity framework in 2016. RBI's examination revealed reports of generation of seven fraudulent messages worth $171 million through the SWIFT system of the bank.
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| 5. | Name the Bank which provides $100 million to L&T Finance arm for wind and solar infrastructure projects. |
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Answer: Option A Explanation: The Asian Infrastructure Investment Bank (AIIB) will give $100-million loan to L&T(Larsen & Toubro) Infrastructure Finance Company(LTIF) for wind and solar infrastructure projects. This is the first time AIIB provide loan to a non-banking finance company(NBFC). LTIF, a subsidiary of L&T Finance Holdings collaboration with AIIB help the company explore in the international market for green finance. The project will help in increasing the supply of renewable energy in India& also helps to reduce the carbon intensity by 30-35 percent of the 2005 levels by 2030 which was India's commitment under Paris agreement. India has set a target to install 175 Gigawatt (GW) of renewable energy capacity by 2022, of which a total of 80.04 GW of renewable energy capacity has been installed in the country till May 2019.
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