Q1. The RBI has cut the repo rate by 25 bps in third bi-monthly monetary policy 2017. What is the rate of present Repo Rate?
(a) 5.75 per cent
(b) 6.00 per cent
(c) 6.25 per cent
(d) 6.50 per cent
(e) 5.50 per cent
S1. Ans.(b)
Sol. On the basis of an assessment of the current and evolving macroeconomic situation at its meeting, the Monetary Policy Committee (MPC), headed by Urjit Patel, decided to reduce the Policy Repo Rate under the liquidity adjustment facility (LAF) by 25 basis points from 6.25 per cent to 6.0 per cent with immediate effect.
(a) Bank of Baroda
(b) State Bank of India
(c) Central Bank of India
(d) Punjab National Bank
(e) Indian Overseas Bank
S2. Ans.(e)
Sol. Public sector Indian Overseas Bank has offered Bharat Bill Payment System, introduced by the National Payments Corporation of India, for its customers. BBPS is an integrated bill payment system that offers inter-operable online bill payments to customers.
Sol. Public sector Indian Overseas Bank has offered Bharat Bill Payment System, introduced by the National Payments Corporation of India, for its customers. BBPS is an integrated bill payment system that offers inter-operable online bill payments to customers.
Q3. Which Bank has launched its first ‘Digital Banking Branch’ named 'CANDI' in Bengaluru?
(a) Union Bank
(b) ICICI Bank
(c) Canara Bank
(d) Indian Bank
(e) Axis Bank
S3. Ans.(c)
Sol. Canara Bank has launched its first ‘Digital Banking Branch’ named 'CANDI' in Bengaluru. The branch will provide an end-to-end digital experience to customers. The bank has introduced customer-friendly mobile apps which help customers get most of the information related to their accounts from the app without the need to visit the branch.
Sol. Canara Bank has launched its first ‘Digital Banking Branch’ named 'CANDI' in Bengaluru. The branch will provide an end-to-end digital experience to customers. The bank has introduced customer-friendly mobile apps which help customers get most of the information related to their accounts from the app without the need to visit the branch.
Q4. The decline in the rate of inflation and high real interest rates have prompted State Bank of India to cut the savings bank deposits rate from 4 per cent to ___________ on deposits below Rs. 1 crore.
(a) 3.50 per cent
(b) 2.75 per cent
(c) 3.75 per cent
(d) 3.30 per cent
(e) 3.00 per cent
S4. Ans.(a)
Sol. The decline in rate of inflation and high real interest rates have prompted State Bank of India to cut the savings bank deposits rate from 4 per cent to 3.5 per cent on deposits below Rs. 1 crore. This cut in savings bank rate will prompt many banks to follow suit.
Sol. The decline in rate of inflation and high real interest rates have prompted State Bank of India to cut the savings bank deposits rate from 4 per cent to 3.5 per cent on deposits below Rs. 1 crore. This cut in savings bank rate will prompt many banks to follow suit.
Q5. The RBI has imposed a penalty of Rs. 3 crore on state-owned Union Bank of India for “non-compliance” with the directions on KYC norms. KYC stands for-?
(a) Know Your Commerce
(b) Know Your Conclusion
(c) Kite Your Customer
(d) Know Your Customer
(e) Know Your Consumer
S5. Ans.(d)
Sol. The RBI has imposed a penalty of Rs. 3 crore on state-owned Union Bank of India for “non-compliance” with the directions on Know Your Customer (KYC) norms.
Q6. Which of the following payments bank has announced a strategic partnership with Hindustan Petroleum Corporation Limited (HPCL) to give the further boost to digital payments in the country and add to customer convenience?
(a) Aditya Birla Nuvo
(b) Department of Posts
(c) Airtel Payments Bank
(d) FINO PayTech
(e) National Securities Depository
S6. Ans.(c)
Sol. Airtel Payments Bank, India’s first payments bank has announced a strategic partnership with Hindustan Petroleum Corporation Limited (HPCL) to give further boost to digital payments in the country and to add to customer convenience.
Sol. Airtel Payments Bank, India’s first payments bank has announced a strategic partnership with Hindustan Petroleum Corporation Limited (HPCL) to give further boost to digital payments in the country and to add to customer convenience.
Q7. Name the smartphone maker company, which has tied up with State Bank of India to store higher variants of SBI debit cards on the app.
(a) Samsung
(b) Motorola
(c) Apple
(d) Lava
(e) Sony
S7. Ans.(a)
Sol. Smartphone-maker Samsung, which recently launched its digital wallet app Samsung Pay in India, has tied up with State Bank of India to store higher variants of SBI debit cards on the app.
Sol. Smartphone-maker Samsung, which recently launched its digital wallet app Samsung Pay in India, has tied up with State Bank of India to store higher variants of SBI debit cards on the app.
Q8. Karnataka Bank has raised interest rates on savings bank account for large balance above Rs 1 crore to 5% while for small balances below Rs 1 lakh, the bank has reduced it to 3%. Where is the corporate office of Karnataka Bank-?
(a) Mengaluru
(b) Bengaluru
(c) Mumbai
(d) Chennai
(e) Kochin
S8. Ans.(a)
Sol. Karnataka Bank has raised interest rates on savings bank account for large balance above Rs 1 crore to 5% while for small balances below Rs 1 lakh, the bank has reduced it to 3%. Earlier the private bank was charging 4% irrespective of the amount in the account. Karnataka Bank was incorporated in 1924 at Mangaluru.
Sol. Karnataka Bank has raised interest rates on savings bank account for large balance above Rs 1 crore to 5% while for small balances below Rs 1 lakh, the bank has reduced it to 3%. Earlier the private bank was charging 4% irrespective of the amount in the account. Karnataka Bank was incorporated in 1924 at Mangaluru.
Q9. Kotak Mahindra Bank has launched Kotak Remit— an Aadhaar-based integrated outward forex remittance solution for both customers and non-customers recently. Who is the Executive Vice Chairman and Managing Director of Kotak Mahindra Bank?
(a) VY Reddy
(b) Aditya Kapoor
(c) Shikha Sharma
(d) Uday Kotak
(e) Nita Ambani
S9. Ans.(d)
Sol. Kotak Mahindra Bank has launched Kotak Remit — an Aadhaar-based integrated outward forex remittance solution for both customers and non-customers. Mr. Uday Kotak is the Executive Vice Chairman and Managing Director of Kotak Mahindra Bank.
Sol. Kotak Mahindra Bank has launched Kotak Remit — an Aadhaar-based integrated outward forex remittance solution for both customers and non-customers. Mr. Uday Kotak is the Executive Vice Chairman and Managing Director of Kotak Mahindra Bank.
Q10. From 01st September 2017 Punjab National Bank's customers will have to pay charges for depositing cash above _______ in a non-base branch even if it is located in the same city.
(a) Rs. 15,000
(b) Rs. 25,000
(c) Rs. 5,000
(d) Rs. 10,000
(e) Rs. 20,000
S10. Ans.(c)
Sol. Come September, PNB customers will have to pay charges for depositing cash above Rs. 5,000 in a non-base branch even if it is located in the same city. Currently, the customers of Punjab National Bank have levied charges only for depositing cash over Rs. 25,000 at a non-base branch within the same city.
Sol. Come September, PNB customers will have to pay charges for depositing cash above Rs. 5,000 in a non-base branch even if it is located in the same city. Currently, the customers of Punjab National Bank have levied charges only for depositing cash over Rs. 25,000 at a non-base branch within the same city.
Q11. Which Bank has launched instant credit cards enabling its savings account customers to get a credit card instantly, in a completely digital and paperless manner recently?
(a) State Bank of India
(b) ICICI Bank
(c) Axis Bank
(d) Bank of Baroda
(e) HDFC Bank
S11. Ans.(b)
Sol. The country's largest private sector lender, ICICI Bank has launched instant credit cards enabling its savings account customers to get a credit card instantly, in a completely digital and paperless manner.
Sol. The country's largest private sector lender, ICICI Bank has launched instant credit cards enabling its savings account customers to get a credit card instantly, in a completely digital and paperless manner.
Q12. Private sector lender IDFC Bank has partnered with digital payments company Zeta, to launch ‘IDFC Bank Benefits’. It is a payment solution for corporates that digitizes employee spends and claims, making the process simple, real-time and paperless. Where is the head office of IDFC Bank?
(a) Chennai
(b) New Delhi
(c) Jaipur
(d) Kolkata
(e) Mumbai
S12. Ans.(e)
Sol. Private sector lender IDFC Bank has partnered with digital payments company Zeta, to launch ‘IDFC Bank Benefits’. It is a payment solution for corporates that digitizes employee spends and claims, making the process simple, real-time and paperless. The Head office of IDFC Bank is in Mumbai.
Sol. Private sector lender IDFC Bank has partnered with digital payments company Zeta, to launch ‘IDFC Bank Benefits’. It is a payment solution for corporates that digitizes employee spends and claims, making the process simple, real-time and paperless. The Head office of IDFC Bank is in Mumbai.
Q13. Syndicate Bank has pared its marginal cost of funds based lending rate (MCLR) by 5-10 basis points in certain maturity buckets recently. Where is the headquarter of Syndicate Bank?
(a) Lucknow, Uttar Pradesh
(b) Jaipur, Rajasthan
(c) Kolkata, West Bengal
(d) Manipal, Karnataka
(e) Chennai, Tamil Nadu
S13. Ans.(d)
Sol. Syndicate Bank has pared its marginal cost of funds based lending rate (MCLR) by 5-10 basis points in certain maturity buckets. MCLR for six months and one year will be 8.3 per cent (8.35 per cent now) and 8.5 per cent (8.60 per cent now), respectively, with effect from August 10. Headquarter of Syndicate Bank is in Manipal, Karnataka.
Sol. Syndicate Bank has pared its marginal cost of funds based lending rate (MCLR) by 5-10 basis points in certain maturity buckets. MCLR for six months and one year will be 8.3 per cent (8.35 per cent now) and 8.5 per cent (8.60 per cent now), respectively, with effect from August 10. Headquarter of Syndicate Bank is in Manipal, Karnataka.
Q14. India signed a loan agreement with Asian Infrastructure Investment Bank (AIIB) for the financing of USD 329 million for Gujarat Rural Roads Project. AIIB based in-?
(a) Japan
(b) China
(c) Germany
(d) France
(e) USA
S14. Ans.(b)
Sol. India signed a loan agreement with Asian Infrastructure Investment Bank (AIIB) for financing of USD 329 million for Gujarat Rural Roads Project. Headquarters of AIIB is located in Beijing, China.
Sol. India signed a loan agreement with Asian Infrastructure Investment Bank (AIIB) for financing of USD 329 million for Gujarat Rural Roads Project. Headquarters of AIIB is located in Beijing, China.
Q15. Private sector lender Axis Bank reduced interest rate on savings bank accounts by 50 basis points to 3.5 per cent for deposits up to-
(a) Rs 1 lakh
(b) Rs 80 lakh
(c) Rs 20 lakh
(d) Rs 50 lakh
(e) Rs 10 lakh
S15. Ans.(d)
Sol. Private sector lender Axis Bank reduced interest rate on savings bank accounts by 50 basis points to 3.5 per cent for deposits up to Rs 50 lakh. However, the bank will continue to pay 4 per cent interest on deposits of above Rs 50 lakh.
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