Current Affairs - Banking

Why Current Affairs Banking?

In this section you can learn and practice Current Affairs Questions based on "Banking" and improve your skills in order to face the interview, competitive examination and various entrance test (CAT, GATE, GRE, MAT, Bank Exam, Railway Exam etc.) with full confidence.

Where can I get Current Affairs Banking questions and answers with explanation?

IndiaBIX provides you lots of fully solved Current Affairs (Banking) questions and answers with Explanation. Solved examples with detailed answer description, explanation are given and it would be easy to understand. All students, freshers can download Current Affairs Banking quiz questions with answers as PDF files and eBooks.

Where can I get Current Affairs Banking Interview Questions and Answers (objective type, multiple choice)?

Here you can find objective type Current Affairs Banking questions and answers for interview and entrance examination. Multiple choice and true or false type questions are also provided.

How to solve Current Affairs Banking problems?

You can easily solve all kind of Current Affairs questions based on Banking by practicing the objective type exercises given below, also get shortcut methods to solve Current Affairs Banking problems.

Exercise :: Banking - Latest Current Affairs

  • Banking - Latest Current Affairs
1. 

Which bank cleared the Divergence charges imposed by RBI?

A. Kotak Mahindra Bank
B. Yes Bank
C. IndusInd Bank
D. Axis Bank

Answer: Option B

Explanation:

The Reserve Bank of India cleared Yes Bank of Divergence charges i.e. disparity in reporting bad loans and provisioning numbers for the year ended March 2018. The final report has observed nil divergence in the bank's asset classification and provisioning from the norms of the RBI. In FY16, after its first assessment, Yes Bank was found divergence of Bad loans by RBI at Rs. 4,176 crore higher than the reported gross NPA of Rs. 748.9 crore. Further, in FY17, Yes Bank was found to be divergence again at Rs. 6,355 crore and reported gross NPA of Rs. 2,018 crore lower than RBI's estimation of Rs. 8,373 crore.

2. 

The Reserve Bank of India (RBI) has penalised Rs 2 million each for __________, Kotak Mahindra Band and IDBI Bank for non-compliance with respect to Know Your Customer (KYC) norms and Anti-Money Laundering (AML) standards.

A. HDFC Bank
B. Andhra Bank
C. Indian Overseas bank
D. Union Bank of India

Answer: Option A

Explanation:

The Reserve Bank of India (RBI) has penalised seven banks for not including public and private sector banks for not complying with various norms. HDFC Bank, Kotak Mahindra Band and IDBI Bank were fined Rs 2 million each for non-compliance with respect to Know Your Customer (KYC) norms and Anti-Money Laundering (AML) standards. Allahabad Bank, Andhra Bank, Indian Overseas bank and Bank of Maharashtra were penalised for not following directions set by RBI on monitoring end use of funds, exchange of information with other banks, classification and reporting of frauds and restructuring of accounts. The penalty was Rs 10 million for Andhra Bank and Rs 15 million each for others. Bank of Baroda and Union Bank of India has imposed a penalty of Rs 1 crore each for violating various banking norms.

3. 

RBI has recently raised the limit for collateral-free agriculture loans from Rs 1 Lakh to __________.

A. Rs 1.6 lakh
B. Rs 1.5 lakh
C. Rs 1.4 lakh
D. Rs 1.3 lakh

Answer: Option A

Explanation:

The Reserve Bank of India (RBI) has recently raised the limit for collateral-free agriculture loans to Rs 1.6 lakh from Rs. 1 lakh to enhance coverage of small and marginal farmers in the formal credit system. Currently, the banks are mandated to extend collateral-free agricultural loans up to Rs. 1 lakh. This limit was fixed in the year 2010. The RBI also proposed to set up an internal working group to review various issues plaguing farm credit, such as regional disparity, extent of coverage and limited capital formation from such credit. As per interim Budget of 2019, the Government of India (GoI) will also launch the 'Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) programme to provide assured income support to small and marginal farmers. Under this, vulnerable landholding farmer-families, having cultivable land up to two hectares, will be provided direct income support at the rate of Rs. 6,000 per year. This income support will be transferred directly into the bank accounts of beneficiary farmers in three equal instalments of Rs. 2,000 each. The programme will be funded by the Government of India (GoI).

4. 

For which bank, RBI penalized Rs.2 Crore for Flouting Norms?

A. Indian Bank
B. Corporation Bank
C. State Bank of India
D. Union Bank of India

Answer: Option B

Explanation:

Reserve Bank of India, has imposed an aggregate penalty of Rs 20 million on Corporation bank due to some lapses in monitoring of end use of funds and exchange of information with other banks in respect of one borrower along with some other banks.

5. 

Which bank has been penalized with Rs 1.5 crore for not monitoring fund use and fraud reporting delay?

A. Canara Bank
B. Andhra Bank
C. Allahabad Bank
D. Corporation Bank

Answer: Option C

Explanation:

Allahabad Bank said the Reserve Bank of India (RBI) has imposed a penalty of Rs 1.5 crore on them for not monitoring end use of funds, delay in classification and reporting of fraud and non-adherence with RBI guidelines during restructuring of accounts in respect of one of its borrowers.