Exercise :: Banking - Latest Current Affairs
- Banking - Latest Current Affairs
| 1. | World Bank sanctions __________ crore for food parks across India. |
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Answer: Option C Explanation: The World Bank will provide Rs 3,000 crore assistance to finance mini and mega food parks across India. The announcement was made by Union Minister of State for Food Processing Industries during the 15th Indo-US Economic Summit. The 15th Indo-US Economic Summit was organized by the Indo-American Chamber of Commerce-North India Council (IACC-NIC) in New Delhi.
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| 2. | Which bank signs 200 million dollar loan agreement with India? |
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Answer: Option A Explanation: India and Asian Development Bank signed 200 million dollar loan agreement. The agreement which will upgrade rural roads in 34 districts of Maharashtra to improve road safety. The project aims to improve the condition of about 2,100 km of rural roads to all-weather standards, with climate resilience and safety features. The main aim is to connect rural communities with productive agricultural areas and socio-economic centres.
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| 3. | Along with which bank, Life Insurance Corporation of India Credit Cards Services launched a co-branded credit card? |
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Answer: Option B Explanation: The Industrial Development Bank of India (IDBI Bank) and Life Insurance Corporation of India Credit Cards Services (LIC CSL), a wholly-owned subsidiary of LIC, will launch a co-branded credit card. It will be marketed to customers, agents, and employees of the corporation and its subsidiaries. At present, IDBI Bank offers 5 credit card variants as LIC has ties up with Axis Bank and Corporation Bank for issuance of credit cards under co-branded/white label agreements.
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| 4. | Who has launched Aadhaar Enabled Payment System (AePS) Services recently? |
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Answer: Option B Explanation: Union Minister for Communications, Electronics & Information Technology and Law & Justice Shri Ravi Shankar Prasad announced that India Post Payments Bank (IPPB) has launched Aadhaar Enabled Payment System (AePS) Services at the first anniversary of its business operations. With this, IPPB became the single largest platform in the country for providing interoperable banking services to the customers of any bank including the 34 crore Jan Dhan account holders. With the help of AEPS services anyone with a bank account linked to Aadhaar can carry out basic banking services like cash withdrawals and balance enquiry irrespective of the bank they hold their account with. Thus, it will benefit the unbanked and underbanked customers and help in doorstep banking access to millions of underbanked customers. In August 2019, the transaction value of AePS stood at Rs. 10,034.12 crores.
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| 5. | How many NPA accounts did PNB puts off for sale to recover dues of Rs 1,234 crores? |
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Answer: Option C Explanation: Punjab National Bank, a government-run put up for sale nearly a dozen Non Performing Assets (NPA) to recover dues of over 1,234 crore. The bank invited bids from Asset Reconstruction Companies (ARCs)/ NBFCs/ banks/ financial institutions for 11 NPA accounts. The accounts having the bad loans include Visa Steel, which has irrecoverable dues of 441.83 crore, IndBarath Energy (Utkal) 414.23 crore, Aster Pvt Ltd 113.57 crore and Om Shiv Estates 100.16 crore.
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