Current Affairs - Banking
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Exercise : Banking - Latest Current Affairs
- Banking - Latest Current Affairs
1.
Which bank partnered with Razorpay to launch the RAY AI Account Manager for businesses on WhatsApp?
Answer: Option
Explanation:
IndusInd Bank partnered with Razorpay to launch RAY, a conversational AI account manager designed to help businesses manage payments and support through WhatsApp. The platform uses natural language processing to understand both text and voice notes, enabling businesses to access payment summaries and sales projections. It can also perform actions such as issuing refunds and generating payment links directly within the chat. RAY proactively tracks payment health, flags upcoming settlements, and provides bank holiday notifications to support liquidity management. The AI assistant had already processed more than 20,000 conversations during its early phase.
Date : 2026-09-08
2.
Which bank partnered with Scapia to launch a co-branded travel credit card in September 2026?
Answer: Option
Explanation:
Axis Bank partnered with fintech company Scapia to launch a co-branded travel credit card on September 4, 2026. The card is designed for travel-focused consumers and is available on both Mastercard and RuPay networks. It offers rewards of up to 10% on eligible everyday spending and up to 20% in Scapia Coins on travel bookings through the Scapia app. Other benefits include zero forex markup, Smart Forex technology, premium airport lounge access, and dining and retail privileges. The partnership represents Scapia’s third banking collaboration and expands its travel-focused financial services offering.
Date : 2026-09-07
3.
Which bank partnered with Citigroup to finance NRI foreign-currency deposits?
Answer: Option
Explanation:
Axis Bank partnered with Citigroup Inc. on August 24, 2026, to finance Non-Resident Indian (NRI) foreign-currency deposits and support India’s foreign exchange reserves. Under the arrangement, Axis Bank provides standby letters of credit that support offshore financing extended by Citigroup to NRI investors. This mechanism enables leveraged investment in foreign-currency deposits and allows offshore lenders to provide financing without maintaining a retail presence in India. Axis Bank also offers FCNR (B) deposits with interest rates of up to 6.40%. The partnership strengthens financial linkages with NRIs while supporting foreign-currency inflows into India.
Date : 2026-08-28
4.
Which bank signed an MoU with VinFast India to provide inventory financing solutions for its authorised dealer network?
Answer: Option
Explanation:
Federal Bank signed a Memorandum of Understanding (MoU) with VinFast India on August 25, 2026, to provide tailored inventory financing solutions for VinFast’s authorised dealers. The arrangement is designed to give dealers greater financial flexibility, optimise working capital, and maintain healthy vehicle inventories. It is also expected to improve operational efficiency across VinFast’s nationwide distribution network. The partnership aims to strengthen the company’s retail foundation and support its long-term growth in India’s electric vehicle market. Federal Bank, established in 1931 as Travancore Federal Bank, is headquartered in Aluva, Kerala, and is one of India’s leading private sector banks.
Date : 2026-08-27
5.
Which bank extended Ketan Merchant’s tenure as Interim Managing Director and Chief Executive Officer for another three months from August 27, 2026?
Answer: Option
Explanation:
Fino Payments Bank extended Ketan Merchant’s tenure as Interim Managing Director and Chief Executive Officer for another three months, beginning August 27, 2026. The extension was recommended by the Nomination & Remuneration Committee and approved by the bank’s board. It remains subject to approval from the Reserve Bank of India (RBI). Merchant assumed the interim leadership role on May 27, 2026, following the resignation of Rishi Gupta. Before becoming interim CEO, Merchant served as the bank’s Chief Financial Officer. The extension ensures continuity in leadership during the transition period.
Date : 2026-08-26
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