Current Affairs - Banking
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Exercise : Banking - Latest Current Affairs
- Banking - Latest Current Affairs
1.
Which public sector bank launched an Online Death Claim Settlement Portal with a 15-day timeline and no surety requirement for claims up to ₹15 lakh?
Answer: Option
Explanation:
Indian Overseas Bank introduced an Online Death Claim Settlement Portal to provide a simplified, transparent, and time-bound solution for families and legal heirs. The digital platform enables online submission of claimant details, document uploads, and real-time tracking of claim status, eliminating the need for repeated branch visits. For claims up to ₹15 lakh, the bank has removed the requirement of third-party surety and reduced documentation, ensuring settlement within 15 days. Alongside this initiative, the bank also launched a new corporate website, reinforcing its commitment to digital transformation while maintaining a compassionate, customer-centric approach.
Date : 2026-02-18
2.
Which bank became the first in India to issue a fully digital Foreign Portfolio Investor (FPI) licence using an end-to-end online process with e-signatures?
Answer: Option
Explanation:
Kotak Mahindra Bank achieved a significant milestone by becoming the first institution in India to issue a fully digital FPI licence. The entire process, from application to approval, was completed online using electronic signatures, without any physical paperwork. This was enabled by SEBI’s unified digital workflow, which allows seamless coordination among custodians and market intermediaries. The initiative simplifies onboarding for foreign investors, reduces time and compliance costs, and enhances transparency. By adopting global best practices in digital finance, this step strengthens India’s capital market infrastructure and supports the country’s broader push for ease of doing business and Digital India.
Date : 2026-02-08
3.
Which Indian private sector bank received RBI approval for Blackstone’s acquisition of up to a 9.99% stake?
Answer: Option
Explanation:
Federal Bank is an Indian private sector bank that received approval from the Reserve Bank of India for Blackstone’s strategic investment. The clearance allows Blackstone to acquire up to a 9.99% stake, making it the bank’s largest shareholder while remaining within regulatory limits. This move highlights increasing foreign investor interest in India’s banking sector and underscores RBI’s role in overseeing ownership norms. The investment strengthens the bank’s capital position, supports future growth, and reflects confidence in its governance and management framework.
Date : 2026-02-06
4.
Which bank partnered with Tripura Gramin Bank to launch India’s first RRB co-branded RuPay Credit Card?
Answer: Option
Explanation:
Punjab National Bank collaborated with Tripura Gramin Bank to launch the nation’s first co-branded RuPay Credit Card by a regional rural bank. This initiative marked a significant milestone in advancing digital financial inclusion, especially for customers in rural and semi-urban areas. By leveraging the RuPay ecosystem, the partnership aims to enhance access to secure credit facilities while promoting digital payment adoption. The launch, coinciding with Tripura Gramin Bank’s Golden Jubilee, sets a new benchmark for regional rural banks in offering modern banking products and supports the broader goal of expanding inclusive and technology-driven financial services across the country.
Date : 2026-02-05
5.
Which asset management company partnered with the Central Bank of India to distribute mutual fund products?
Answer: Option
Explanation:
The Central Bank of India entered into a partnership with HSBC Asset Management (India) Private Limited to offer mutual fund products to its customers. Through this collaboration, customers of the public sector bank can access professionally managed mutual fund schemes, expanding their investment choices beyond traditional savings products. The initiative is designed to help customers generate better long-term wealth by leveraging expert fund management and diversified portfolios. By associating with HSBC, a globally recognized financial institution, the Central Bank of India aims to strengthen its investment offerings and support customers in achieving improved financial planning and savings outcomes.
Date : 2026-02-04
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