Current Affairs - Banking
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Exercise : Banking - Latest Current Affairs
- Banking - Latest Current Affairs
1.
Which bank partnered with Zaggle to launch India's first co-branded biodegradable twin credit cards?
Answer: Option
Explanation:
Punjab National Bank (PNB), in partnership with Zaggle Prepaid Ocean Services Ltd., launched India's first co-branded biodegradable twin credit cards in June 2026. Manufactured using biodegradable materials, these cards promote sustainability while offering users access to both Visa and RuPay networks through a twin-card proposition. Customers benefit from global travel privileges, UPI-enabled payments, discounts on jewellery purchases, fuel surcharge waivers, complimentary airport and railway lounge access, OTT subscriptions, fitness memberships, and insurance coverage. The initiative combines environmentally friendly innovation with digital convenience, as card applications and management are handled through the Zagg. money mobile application.
Date : 2026-06-25
2.
Which bank launched the FCNR Max Deposit Scheme offering a fixed annual return of 6.25% on US dollar-denominated FCNR deposits?
Answer: Option
Explanation:
Federal Bank launched the FCNR Max Deposit Scheme to meet the increasing demand for higher-yield foreign currency investments among Non-Resident Indians (NRIs). The scheme offers a fixed annual return of 6.25% on US dollar-denominated Foreign Currency Non-Resident (FCNR) deposits with tenures ranging from three to five years. It includes a mandatory one-year lock-in period, and premature withdrawals after that period attract a penalty. The initiative is aimed at strengthening the bank’s offshore liability franchise. Federal Bank supports global customers through representative offices in Dubai and Abu Dhabi and operates an IFSC Banking Unit at GIFT City.
Date : 2026-06-23
3.
Which bank collaborated with BITS Pilani to establish the ₹100 crore Industry Research, Technology & Innovation Park in Hyderabad?
Answer: Option
Explanation:
BITS Pilani partnered with Axis Bank to establish the Axis Bank–BITS Industry Research, Technology & Innovation Park at its Hyderabad campus. The project is being funded through a ₹100 crore Corporate Social Responsibility (CSR) grant from Axis Bank and will cover approximately 120,000 square feet. The park aims to promote research and innovation in key sectors such as life sciences, biopharma, healthcare, and medical devices. It will focus on deep-tech innovation and translational research to develop commercially viable solutions. The initiative reflects collaboration between academia and industry to strengthen India's research ecosystem and technological advancement.
Date : 2026-06-22
4.
Which insurance company launched the Multifactor Index Fund, introducing a Smart Beta investment strategy to the Indian life insurance sector on June 18, 2026?
Answer: Option
Explanation:
PNB MetLife launched the Multifactor Index Fund to bring Smart Beta investing to the Indian life insurance sector. The fund follows a multifactor investment approach by selecting stocks based on quality, value, momentum, and low volatility factors. Integrated into Unit Linked Insurance Plans (ULIPs), it operates as a passively managed index fund designed to provide systematic diversification and lower tracking error. The strategy aims to perform effectively across different market conditions through an “all-weather” approach, balancing risk and return. By focusing on reducing portfolio volatility while pursuing long-term capital appreciation, the fund offers investors a disciplined and data-driven investment solution.
Date : 2026-06-19
5.
Which bank won the Gold Award at the Finacle Innovation Awards 2026 in the category of “Modern Technologies-led Innovation – Data Insights & Analytics Platform”?
Answer: Option
Explanation:
Jammu & Kashmir Bank won the Gold Award at the Finacle Innovation Awards 2026 for its advanced Data Insights and Analytics Platform. The award recognised the bank’s successful use of Artificial Intelligence (AI), Machine Learning (ML), business intelligence, and advanced analytics to improve operational efficiency and decision-making. The platform supports customer analytics, risk management, business forecasting, customer retention, and performance monitoring. Presented during the Finacle India Connect 2026 event in Mumbai, the recognition highlights J&K Bank’s commitment to technology-driven innovation and places it among leading financial institutions adopting emerging technologies for digital transformation and enhanced customer service.
Date : 2026-06-06
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