Current Affairs - Banking

Exercise :: Banking - Latest Current Affairs

  • Banking - Latest Current Affairs
11. 

Which bank planning to launch loan product 'SAFAL' for organic cotton growers?

A. RBI
B. SBI
C. ICICI
D. PNB

Answer: Option B

Explanation:

State Bank of India is planning to launch a loan product, SAFAL, primarily focused on organic cotton growers who don't have any credit history, said a top official of the country's largest lender. The bank is using Artificial Intelligence (AI) and Machine Learning (ML) in a big way for generating business, SBI managing director C S Setty said speaking at a Fintech conference organised by Federation of Indian Chambers of Commerce and Industry (FICCI).

12. 

Which company launch AI Classroom Series to skill India's future workforce with AI capabilities in partnership with NASSCOM?

A. Google
B. Facebook
C. Reliance
D. Microsoft

Answer: Option D

Explanation:

s part of its ongoing efforts to promote skilling as a national priority, NASSCOM FutureSkills and Microsoft have joined hands to launch a nation-wide AI skilling initiative. The initiative aims to skill 1 million students in AI by 2021. The collaboration will provide Microsoft's AI, machine learning and data science expertise to students through easy to consume modules including live demos, hands on workshops and assignments. These introductory sessions on AI will be available for undergraduate students at no cost and will cover the basics of data science, machine learning models on Azure, and understanding of cognitive services to build intelligent solutions.

13. 

Which card launched the Central Bank Digital Currency testing platform?

A. VISA
B. Mastercard
C. Rupay
D. All of these

Answer: Option B

Explanation:

Mastercard has launched "Central Bank Digital Currencies" (CBDCs), a Virtual Testing Environment for Central Banks to Assess and Explore National Digital Currencies. Mastercard has invited Central Banks, Commercial Banks and tech and advisory firms to evaluate the suitability of CBDCs in a country or region.

14. 

Which organsiation issued a notice on Compliance functions in banks and role of CCO?

A. RBI
B. SIDBI
C. SEBI
D. SBI

Answer: Option A

Explanation:

Reserve Bank of India has released a notice on Compliance Functions in Banks and the Role of Chief Compliance Officer (CCO). According to the compliance system Banks required, to have an effective compliance culture, independent corporate compliance function, and a strong compliance risk management programme at the bank and group level. Such an independent compliance function is required to be headed by a designated Chief Compliance Officer (CCO).

15. 

Which insurance company partnered with NSDL Payments bank to offer insurance products?

A. ICICI Prudential Life
B. Bajaj Alliance
C. LIC
D. Birla Sun Life

Answer: Option A

Explanation:

ICICI Prudential Life Insurance has entered into a corporate agency agreement with NSDL Payments Bank, a subsidiary of National Securities Depository Ltd (NSDL). Under the agreement, ICICI Prudential Life will provide its customer-centric protection and savings products to customers of NSDL Payments Bank.