Exercise :: Banking - Latest Current Affairs
- Banking - Latest Current Affairs
| 1. | Which bank is the oldest Public Sector Bank in India? |
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Answer: Option A Explanation: Allahabad Bank, established in 1865 - Allahabad Bank is the oldest Public Sector Bank in India having branches all over India and serving the customers for the last 145 years.
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| 2. | An online forex marketplace, BookMyForex and card payment company Visa has partnered with which bank to launch a co-branded multi-currency forex travel card? |
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Answer: Option D Explanation: An online forex marketplace, BookMyForex has partnered with YES Bank and card payment company Visa to launch a co-branded multi-currency forex travel card that will provide a smooth payments solution to Indians traveling abroad. They can load up to 10 currencies on the card. The forex travel card will be available to Customers on the BookMyForex platform and get doorstep delivery at free of cost across major cities in India. In order to promote the sale over currency notes, the platform will offer zero margin or exact inter-bank rates 24*7 on purchases made through the forex travel card. BookMyForex will also offer modern contactless cards that allow a user to simply tap their card on a POS machine, a must-have feature in countries like UK(United Kingdom) where some merchants only allow contactless payments.
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| 3. | Which bank allows e-mandate for cards for recurring transactions? |
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Answer: Option A Explanation: The Reserve Bank of India has permitted processing of e-mandate on credit and debit cards for recurring transactions (merchant payments). The maximum limit for such a transaction will be Rs 2,000. While processing the first transaction in e-mandate-based recurring transaction series, additional factor authentication (AFA) validation should be performed. As per the RBI circular, no charges should be levied or recovered from the card holder for availing the e-mandate facility on cards for recurring transactions. The direction is applicable for transactions performed using all types of cards-debit, credit and Prepaid Payment Instruments (PPIs), including wallets.
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| 4. | Which bank has signed a bancassurance agreement with Aditya Birla Health Insurance Co Ltd (ABHICL) to provide Aditya Birla's suite of insurance products to its customers? |
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Answer: Option B Explanation: The 3rd -largest of the private-sector lender, Axis Bank has signed a bancassurance agreement with stand alone health insurer, Aditya Birla Health Insurance Co Ltd (ABHICL) to provide Aditya Birla's suite of insurance products to its customers. Aditya Birla's products will now be available in Axis Bank customer base across its 4,094 branches and digital channels. Through this partnership, Aditya Birla will deepen the penetration of its product offers and enable more customers in Metro, Urban and Rural areas to access their risk solutions anytime, anywhere.
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| 5. | Asian Development Bank(ADB) has signed an agreement to invest __________ million in non-convertible debentures(NCD) being issued by GRIL. |
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Answer: Option D Explanation: In order to support road sector investment plans of the Indian government, Asian Development Bank(ADB) has signed an agreement to invest $23 million in non-convertible debentures(NCD) being issued by GRIL(GR Infraprojects Limited). This investment will promote the GRIL's ability for the construction of roads and highways in India through the purchase of new building equipment & help execute its existing order book of $ 2.78 billion and enable it to bid for larger and more complex infrastructure projects. The agreement was signed by Michael Barrow, Director General of ADB's Private Sector Operations Department and Vinod Kumar Agarwal, GRIL Chairman and Managing Director.
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