Current Affairs - Banking
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Exercise : Banking - Latest Current Affairs
- Banking - Latest Current Affairs
1.
Which bank launched the “My Business QR” initiative to provide small merchants with a digital storefront and QR-based commerce identity?
Answer: Option
Explanation:
HDFC Bank launched the “My Business QR” at the Global Fintech Fest (GFF) 2025 in partnership with Vyaparify. The initiative empowers small and medium businesses to establish a digital storefront and unique commerce identity through a single QR code. Integrated with HDFC’s SmartHub Vyapar app, it enables merchants to showcase business details, accept payments, and interact with customers digitally without needing a website or technical setup. This innovation supports India’s vision for digital financial inclusion by helping millions of retailers transition from offline to online operations, improving accessibility, customer engagement, and growth opportunities.
Date : 2025-10-10
2.
Which bank launched the ‘Innovation Banking’ initiative with a $1 billion allocation to support Indian startups?
Answer: Option
Explanation:
HSBC India has introduced the ‘Innovation Banking’ initiative to provide customised financial and banking solutions for startups at various stages of growth—from seed funding to IPO. The program includes a $1 billion allocation in non-dilutive debt capital, enabling startups to access funding without giving up equity. This move aims to strengthen India’s startup ecosystem by offering long-term financial support and innovative credit solutions, reflecting HSBC’s commitment to nurturing entrepreneurial ventures and driving economic growth through technological innovation and business development.
Date : 2025-10-09
3.
What regulatory action did the Reserve Bank of India (RBI) take against Datta Finance and Trading Pvt Ltd due to violations in digital lending operations?
Answer: Option
Explanation:
The Reserve Bank of India cancelled the NBFC (Non-Banking Financial Company) licence of Datta Finance and Trading Pvt Ltd because it violated digital lending guidelines. The company outsourced core lending functions such as customer sourcing, KYC verification, loan disbursal, and recovery, which breaches RBI’s Fair Practices Code and Digital Lending Guidelines. The cancellation prevents Datta Finance from offering or recovering loans and signals RBI’s strict enforcement of ethical conduct and regulatory compliance in the digital lending sector. This move highlights RBI’s emphasis on consumer protection and oversight of financial service providers.
Date : 2025-09-28
4.
What global rank did Kotak811 achieve in banking app downloads during the first half of 2025?
Answer: Option
Explanation:
Kotak Mahindra Bank’s Kotak811 app achieved the 3rd position globally in banking app downloads in the first half of 2025, according to Sensor Tower. It recorded over 16 million downloads, surpassing SBI’s Yono app, which ranked 4th with 14 million downloads. This milestone marks a 250% year-on-year growth, making Kotak811 the fastest-growing banking app worldwide during this period. Remarkably, the surge came despite RBI restrictions earlier in the year that temporarily halted new digital onboarding. Kotak811’s digital-first, customer-centric model has played a pivotal role in its rapid adoption and global recognition.
Date : 2025-09-17
5.
Which bank signed an MoU with TCIL to enhance IT infrastructure and accelerate digital banking services?
Answer: Option
Explanation:
Punjab National Bank (PNB) signed a Memorandum of Understanding with Telecommunications Consultants India Limited (TCIL) on 3 September 2025 to strengthen its IT systems and digital banking capabilities. The partnership focuses on areas like system integration, IT infrastructure rollout, and regulatory-compliant deployments, ensuring PNB delivers secure, resilient, and customer-centric services. TCIL will provide consultancy, project management, and execution support, helping PNB meet rising customer demands while maintaining robust cybersecurity standards. This collaboration not only strengthens PNB’s competitive position in the digital banking sector but also aligns with the broader Digital India mission to expand secure financial services nationwide.
Date : 2025-09-12
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