Current Affairs - Banking
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Exercise : Banking - Latest Current Affairs
- Banking - Latest Current Affairs
1.
From which date will the new nomination rules under the Banking Laws (Amendment) Act, 2025 come into effect?
Answer: Option
Explanation:
The Central Government has announced that the updated nomination rules under the Banking Laws (Amendment) Act, 2025 will take effect from November 1, 2025. These reforms aim to make the nomination process for deposits, lockers, and safe custody articles more flexible and transparent. Customers can now nominate up to four individuals simultaneously or successively, ensuring clearer entitlement and quicker settlement in case of the depositor’s death. The changes are part of broader initiatives to strengthen governance, depositor protection, and efficiency in India’s banking system, aligning with modern financial practices and customer convenience.
Date : 2025-10-26
2.
What key feature does the new UPI innovation ‘Pay with Mutual Fund’ primarily enable for users?
Answer: Option
Explanation:
The new UPI feature ‘Pay with Mutual Fund’ enables users to make instant transactions directly from their liquid mutual fund holdings. Instead of transferring money to a bank account before payment, the system instantly redeems the required amount from the mutual fund and processes it in real time through UPI. This innovation bridges investment and payment systems, offering both liquidity and higher returns compared to traditional savings accounts. Backed by ICICI Prudential AMC, Bajaj Finserv AMC, and Curie Money, it marks a global first for India in fintech, revolutionizing how digital transactions integrate with personal investments.
Date : 2025-10-26
3.
Which Indian bank was awarded the title of “World’s Best Consumer Bank 2025” by Global Finance?
Answer: Option
Explanation:
The State Bank of India (SBI) earned the prestigious “World’s Best Consumer Bank 2025” award from Global Finance, recognizing its excellence in innovation, digital transformation, and financial inclusion. SBI’s leadership in mobile and voice banking, along with AI-driven services and a massive customer base of over 520 million, contributed to this recognition. The bank’s flagship mobile app, with over 100 million users, reflects its success in digital accessibility. This achievement not only enhances India’s reputation in global banking but also highlights the evolving role of public sector banks in providing inclusive, tech-enabled financial services to millions across the nation.
Date : 2025-10-25
4.
Which bank is implementing Automatic Number Plate Recognition (ANPR)-based Multi-Lane Free Flow (MLFF) tolling on NH-48?
Answer: Option
Explanation:
Jio Payments Bank (JPBL) is set to deploy ANPR-based Multi-Lane Free Flow (MLFF) tolling at Shahjahanpur and Manoharpura toll plazas on NH-48, between Gurugram and Jaipur. This initiative is part of NHAI’s pilot project for barrier-free tolling, which allows vehicles to pass through toll plazas without stopping, ensuring automatic and seamless toll deduction. By integrating advanced technology with banking services, Jio Payments Bank is facilitating faster, more efficient toll collection, reducing congestion, and enhancing the travel experience for commuters. This project also showcases the growing role of digital payments in infrastructure and transport sectors.
Date : 2025-10-16
5.
Which bank launched the “My Business QR” initiative to provide small merchants with a digital storefront and QR-based commerce identity?
Answer: Option
Explanation:
HDFC Bank launched the “My Business QR” at the Global Fintech Fest (GFF) 2025 in partnership with Vyaparify. The initiative empowers small and medium businesses to establish a digital storefront and unique commerce identity through a single QR code. Integrated with HDFC’s SmartHub Vyapar app, it enables merchants to showcase business details, accept payments, and interact with customers digitally without needing a website or technical setup. This innovation supports India’s vision for digital financial inclusion by helping millions of retailers transition from offline to online operations, improving accessibility, customer engagement, and growth opportunities.
Date : 2025-10-10
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