Current Affairs - Banking

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Exercise : Banking - Latest Current Affairs
  • Banking - Latest Current Affairs
1.
Which bank became the first Trading cum Clearing (TCM) Member at India International Bullion Exchange (IIBX)?
ICICI Bank
HDFC Bank
State Bank of India
Axis Bank
Answer: Option
Explanation:
State Bank of India (SBI) became the first bank to become a Trading cum Clearing (TCM) Member at India International Bullion Exchange (IIBX). This allows SBI's IFSC Banking Unit (IBU) to trade on the IIBX platform and act as a trading member and clearing member for importing gold through the bullion exchange, enhancing transparency and efficiency in India's Bullion Market.

2.
Which bank introduced Pixel Play, India's premier virtual credit card partnered with Visa?
ICICI Bank
Axis Bank
State Bank of India
HDFC Bank
Answer: Option
Explanation:
HDFC Bank launched Pixel Play, the first virtual credit card in India in partnership with Visa. This innovative card offers personalized benefits and seamless digital management through the PayZapp mobile app, setting a new standard for banking experiences in the country.

3.
Which institution collaborated with the Atal Innovation Mission to allocate Rs 19.6 crore in grants to support 170 social startups in FY24?
HDFC Bank
ICICI Bank
NITI Aayog
IIT Madras
Answer: Option
Explanation:
HDFC Bank partnered with Atal Innovation Mission to provide grants totalling Rs 19.6 crore to 170 social startups in FY24. This collaboration, known as the 'Parivartan Start-up Grants programme,' aimed to foster social sector innovation across various critical areas and empower startups from tier 2 and 3 cities as well.

4.
Which bank has introduced UPI for NRIs using international mobile numbers?
HDFC Bank
Axis Bank
ICICI Bank
South Indian Bank
Answer: Option
Explanation:
ICICI Bank has introduced a groundbreaking feature allowing non-resident Indian (NRI) customers to use Unified Payments Interface (UPI) transactions in India through their international mobile numbers. This initiative enhances convenience for NRIs by streamlining payments without the need for an Indian mobile number, empowering global transactions and leveraging the UPI infrastructure provided by the National Payments Corporation of India (NPCI).

5.
As per the revised guidelines by RBI, what is the maximum risk for custodian banks issuing irrevocable payment commitments (IPCs)?
20%
30%
40%
50%
Answer: Option
Explanation:
The Reserve Bank of India (RBI) has lowered the maximum risk for custodian banks issuing irrevocable payment commitments (IPCs) from 50% to 30%. This decision follows the reduction in trade settlement time from T+2 to T+1 and T+0 for select equities by stock exchanges. The revised guidelines aim to mitigate risks associated with potential downward price movements of equities purchased by foreign institutional investors/mutual funds over two successive days from the trade date.