Banking Awareness – RBI, SBI, PO, IBPS Exam – February 2020 Part 1 – Free PDF Download

 

• IRDAI forms 9-member panel led by Mr G. Srinivasan, Director, National Insurance Academy, to examine the possibility of allowing life insurers offer indemnity-based  health insurance plans
• Indemnity-based health plans are basically those insurance policies where the insured is reimbursed the actual expense incurred during hospitalisation up to the total sum insured under the insurance policy.
• Sweden’s Riksbank began testing an e-krona, taking the country a step closer to the creation of the world’s first central bank digital currency (CBDC).
• If the e-krona eventually comes into circulation it will be used to simulate everyday banking activities, such as payments, deposits and withdrawals from a digital wallet such as a mobile phone app
• Capri Global Capital Ltd NBFC has unveiled new SME lending product UDAAN for women entrepreneurs, Secured Loan up to – 40 Lakh.
• In order to benefit the scheme, the women borrower has to be the primary applicant within the age group of 18-45 years and must not be more than 60 years of age at the end of their loan repayment period.
• The women borrower applying for the loan need to be the owner or co-owner of the business/enterprises along with engagement in the business activity for more than 12 months respectively.

Q) Michael Miebach, who is in the news recently is the CEO of which company?

A. Adobe

B. Mastercard

C. Arista Networks

D. Oracle

Q) Finance Commission has set up an 8 member expert group on agri exports under whose chairmanship?

A. Suresh Narayanan

B. Sanjiv Puri

C. Prakash Chauhan

D. Anand Kripalu

• Sanjiv Puri – Chairman, ITC.
• As per the Terms of Reference, the panel would assess export and import substitution opportunities for Indian agricultural products (commodities, semi processed and processed) in the changing international  trade scenario and suggest ways to step up exports sustainably and reduce import dependence.
• India’s Agri export target – 60 Billion USD by 2024.
• Private non-life insurer Bharti AXA General Insurance has started delivering policies and renewal premium to its customers through the instant messaging platform -‘WhatsApp’.
• it plans to sell private car, two-wheeler and travel insurance through WhatsApp chatbot.
• The company is the first among non-life insurers in India to introduce the entire bouquet of service initiatives such as policy documents, renewal notices and claim intimation for its customers by using  Whats App chatbot.

Q) Microsoft has announced a partnership with which bank to train differently-abled people to find jobs in the BFSI sector?

A. Bank of Baroda

B. Yes Bank

C. State Bank of India

D. Axis Bank

• More than 500 differently-abled youths will be upskilled in the first year of the partnership.
• There are 26 million differently-abled people in India and it is important to use advanced ways to use technology to enable them participate in the 21st century economy.

Q) The National Payments Corporation of India (NPCI) has launched which campaign to promote transactions through UPI?

A. UPI Chalega

B. UPI Daudega

C. UPI Bhagega

D. UPI Gati

• UPI was launched in 2016
• The campaign is aimed to guide users towards the right use of UPI and help create a habitual change, to use UPI in their daily lives.
• The campaign also focuses on the safety aspects while transacting on UPI-enabled apps
• As many as 144 banks are on the platform
• NPCI CEO – Dilip Asbe

Q) Which country hosted the inaugural G20 finance ministers’ and central bank governors’ meeting ?

1. India
2. Argentina
3. Saudi Arabia
4. Germany

Q) Sunil Gurbaxani will be appointed as managing director and CEO of which Bank?

1. ICICI Bank
2. IndusInd Bank
3. Kotak Mahindra Bank
4. Dhanlaxmi Bank

Q) Google has partnered with which digital wallet company to introduce Mobile Recharge Search in India?

1. Mobikwik
2. PhonePe
3. Paytm
4. ICICI Pockets

• As a result of this partnership, one can now search for, compare, and recharge prepaid mobiles plans from MobiKwik easily from Google Search.
• This unique, new “Mobile Recharge Search” is introduced for the Indian market keeping the rising number of mobile recharge queries online in mind.
• India is a 97 percent prepaid mobile market
• Mobi Kwik Founders – Bipin Preet Singh & Upasana Taku
• CEO – Bipin Preet Singh

Q) Which state government has signed an MoU with State Bank of India (SBI) to facilitate approval of loans to entrepreneurs in the MSME sector?

1. Bihar
2. Gujarat
3. Rajasthan
4. Madhya Pradesh

Q) The India government and the World Bank has signed a USD ________ million loan agreement to arrest the country’s depleting groundwater levels?

1. USD 350 million
2. USD 400 million
3. USD 250 million
4. USD 450 million

• The World Bank-supported Atal Bhujal Yojana (ABHY) – National Groundwater Management Improvement Program will be implemented in the states of Gujarat, Maharashtra, Haryana, Karnataka,  Rajasthan, Madhya Pradesh, and Uttar Pradesh and cover 78 districts.

Q) In order to connect home buyers and developers, CREDAI (CONFEDERATION OF REAL ESTATE DEVELOPERS’ ASSOCIATIONS OF INDIA) has launched which mobile application?

1. CREDAI Niwaas
2. CREDAI Bhumi
3. CREDAI Awaas
4. CREDAI Kray

Q) The Odisha government has signed an MoU with which bank to provide smart banking solutions to start-ups in the state?

1. Axis Bank
2. Yes Bank
3. HDFC Bank
4. ICICI Bank

Q) RBI has decided to sync the Financial year of the bank with the Fiscal Year. The Financial Year is between _____ and ________?

1. July and June
2. April and March
3. June and May
4. March and Feb

• The Bimal Jalan panel set up to review the economic capital framework of the central bank had recommended both accounting years should be in sync beginning 2020-21.
• The RBI would be able to provide better estimates of the projected surplus transfers to the government for the financial year for budgeting purposes
• The panel had also said that the alignment of accounting years could reduce the need for the payout of an interim dividend by the RBI.

Q) General Insurance Corporation of India (GIC Re) has received license from which international bank to commence reinsurance business in the country? (Devesh Srivastava)

1. Bank of Russia
2. Central Bank of Ireland
3. Bank of Italy
4. National Bank of Poland

Q) SEBI has constituted a municipal bonds development committee which will be headed by whom?

1. Sujit Prasad
2. Ananta Barua
3. Jayanta Jash
4. Parag Basu

• Municipal bonds are also referred to as ‘muni bonds’.
• The urban local government and agencies issue these bonds. Municipal bonds are issued when a government body wants to raise funds for projects such as infra-related, roads, airports, railway stations,  schools, and so on. The Securities and Exchange Board of India (SEBI) circulated detailed guidelines in  2015 for the urban local bodies to raise funds by issuing municipal bonds.
• Municipal bonds exist in India since the year 1997. Bangalore Municipal Corporation is the first urban local body to issue municipal bonds in India.

Q) The Union Cabinet has approved changes in the ‘Direct Tax Vivad se Vishwas Bill, 2020‘ to cover the pending litigation of which tribunal?

1. Debt Recovery Tribunal
2. Central Administrative Tribunal
3. Income Tax Appellate Tribunal
4. Competition Appellate Tribunal

• FM Nirmala Sitharaman introduced a Bill in Lok Sabha to resolve direct tax disputes. It is called the Direct Tax Vivad se Vishwas Bill, 2020.
• As on November 30, 2019, the aggregate amount of taxes under dispute is Rs. 9.32 lakh crore.
• This amnesty scheme offers a waiver of interest, penalty and prosecution for settlement of these disputes. It offers a complete waiver of interest and penalty for payments made by March 31.
• For payments made from April 1 till 30^th June, an additional 10% of the disputed amount will need to be
• The Bill proposes to settle 4.83 lakh direct tax cases pending at various appellate forums. The government expects to resolve 90% of the income tax disputes through this scheme.

Q) According to ‘The Banker’s Top 500 Banking Brands 2020’ report, which bank has topped the list of ‘Highest increase in brand value’ among global banks?

1. IndusInd Bank
2. Axis Bank
3. ICICI Bank
4. HDFC Bank

• Sumant Kathpalia, new MD and CEO of IndusInd Bank
• IndusInd Bank’s brand value saw an increase of 122% over the past 12 months.
• As a part of the report, the list “Top 50 By Total Brand Value by Country” has been topped by China, followed by United States (US) at 2nd position while Canada and the United Kingdom (UK) ranked at 3rd  and 4th spots.
• Japan has moved up to 5^th spot
• India ranked 8^th in this list in comparison to 10th place in 2019

Q) Reserve Bank of India (RBI) is observing Financial Literacy Week (FLW) 2020 from 10-14 Feb under which theme?

1. Micro, Small and Medium Enterprises
2. Financial Inclusion
3. Customer Protection
4. Artificial Intelligence in Banking

Q) Pinelopi Koujianou Goldberg who has announced her resignation is the Chief Economist of which bank? (Aart Kraay)

1. World Bank
2. International Monetary Fund
3. New Development Bank
4. Asian Infrastructure Investment Bank

RBI’s 6^th Bi-monthly Monetary Policy 2019-20 :-

• Policy Rates under Liquidity Adjustment Facility (LAF)
• Repo Rate 5.15%
• Reverse Repo Rate 4.90%
• Marginal standing facility (MSF) Rate 5.40%
• Bank Rate 5.40%
• Cash reserve Ratio (CRR) 4%

Q) Which among the following will create the world’s biggest ATM network of 2 million in India by year end?

1. Paytm
2. PhonePe
3. Google Pay
4. Samsung Pay

• PhonePe is owned by Walmart
• The service—billed as India’s first and world’s largest—enables neighbourhood stores to act as ATMs for PhonePe users.
• It had a pilot run in Delhi-NCR and is now being rolled out across 500,000 shops in 300 cities.
• Subscribers use the PhonePe app to locate shops offering the ATM service and then click the “withdraw” button to transfer an amount to the merchant.
• Once the amount is transferred, the merchant gives the customer cash equal to the amount transferred. PhonePe will not charge for the service and it has set a withdrawal limit of Rs 1,000 for now.

Q) Which bank has offered to extend a $3 billion loan to Andhra Pradesh for development projects? 

1. Asian Infrastructure Investment Bank
2. International Monetary Fund
3. World Bank
4. New Development Bank

Q) “Reliance Health Infinity” policy offers _____days pre and ______days post hospitalization cover?

1. 45, 90 days
2. 90, 180 days
3. 60, 120 days
4. 30, 60 days

• It will cover New Health Insurance to Cover New Age Treatment like Robotic Surgeries, Stem Cell therapy and Organ Donor Expenses
• The plan also comes with Ayush benefit, wherein all the expenses incurred on treatment in a hospital under Ayurveda, Unani, Sidha and Homeopathy
• The product comes with 90 days pre and 180 days post hospitalization cover as well as a wide range of sum insured from INR 3 lakh to 1 crore

Q) Which bank has launched the self-service delivery facility called ‘iBox’?

1. Yes Bank
2. Federal Bank
3. ICICI Bank
4. Axis Bank

Q) To become a preferred banking partner for startups, Baroda Startup Banking initiative of Bank of Baroda has been launched in how many cities?

1. 10
2. 20
3. 15
4. 30

Q) Which Payment bank has launched the Aadhaar enabled payment system (AePS)?

1. Airtel
2. Fino
3. Jio
4. Paytm

• One can make a transaction with just Aadhaar number without revealing bank account or debit card details
• AePS allows customers to carry out financial transactions like withdrawals, balance enquiries and requesting mini-statements on a micro-ATM by using their Aadhaar number or virtual ID to access their  Aadhaar-linked bank account. Transactions will be authenticated only if the customer’s Aadhaar number  and fingerprint match the records.

Q) Who has been appointed as the Managing Director and CEO IndusInd Bank?

1. Sumant Kathpalia
2. Sanjiv Chadha
3. Atanu Kumar Das
4. Lingam Prabhakar

Q) RBI has allowed which bank to open new branches without prior permission on the condition that 25% of the new banking outlets should be opened in unbanked rural centres?

1. City Union Bank
2. Bandhan Bank
3. Dhanlaxmi Bank
4. Federal Bank

Q) Which supranational institution for the very first time has listed its masala bond on the Global Securities Market (GSM) of India INX?

1. World Bank
2. New Development Bank
3. Asian Development Bank
4. Asian Infrastructure Investment Bank

 

 

 

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