Exercise :: Banking - Latest Current Affairs
- Banking - Latest Current Affairs
| 1. | Brahm Dutt was appointed as an Interim Chairman of this bank. |
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Answer: Option A Explanation: Yes Bank Ltd has named one of its independent directors Brahm Dutt as the bank's part-time non-executive independent chairman after former Finance Secretary Ashok Chawla resigned from the position. Brahm Dutt is a former bureaucrat and is one of the oldest members of Yes Bank's board.
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| 2. | Reserve Bank of India has imposed a fine of Rs 1 crore on this bank for violating cybersecurity norms. |
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Answer: Option C Explanation: The Reserve Bank of India has imposed a fine of Rs 1 crore on Indian Bank for violating cybersecurity norms. The contravention is with regard to RBI's directions on Frauds - Classification and Reporting by Commercial Banks.
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| 3. | This bank extended a credit facility of USD 500 million to Tanzania for water supply projects in the country. |
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Answer: Option A Explanation: Export-Import Bank of India (Exim Bank) extended a credit facility of USD 500 million to Tanzania for water supply projects in the country. Exim Bank signed an agreement in May 2018, with the Tanzania government for making available a Government of India-supported line of credit of USD 500 million for the purpose of financing water supply schemes.
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| 4. | A Currency Swap Agreement was signed between Central Bank of the UAE and this Indian bank. |
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Answer: Option B Explanation: Currency Swap Agreement was signed between the Reserve Bank of India and the Central Bank of the UAE. The MoU was signed by Ambassador of India to UAE, Shri Navdeep Suri and Dy. Governor of Central Bank of UAE.
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| 5. | With which bank, HDFC ERGO General Insurance Company ties up for offerings non-life insurance to the customers of the Bank? |
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Answer: Option B Explanation: HDFC ERGO General Insurance Company, India's leading private sector general insurance company, and Federal Bank, announced tie-up for the distribution of HDFC ERGO's range of non-life insurance offerings to the customers of the Bank through its network branches. This Corporate Agency Tie-up offers comprehensive Insurance solutions to customers both digitally and physically, which benefits the customers in many ways. Federal Bank's deep-rooted presence in Southern markets allows the Company to strengthen its foothold within the region.
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