General Awareness Quiz for Bank Mains Exams 2023 -13th June

Q1. Who recently unveiled a new financial inclusion dashboard called ‘Antardrishti’ to provide valuable insights and track the progress of financial inclusion by capturing relevant data?
(a) Narendra Modi
(b) Nirmala Sitharaman
(c) Shaktikanta Das
(d) T. Rabi Shankar
(e) None of the above

Q2. Which of the following entity is set to introduce a new secured web-based portal called “PRAVAAH” (Platform for Regulatory Application, Validation And AutHorisation) aimed at simplifying and streamlining the application processes?
(a) RBI
(b) NABARD
(c) SEBI
(d) NITI Aayog
(e) None of the above

Q3. Which entity has recently initiated the ‘100 Days 100 Pays’ campaign, aimed at tracing and settling the top 100 unclaimed deposits of every bank in every district within a span of 100 days?
(a) Reserve Bank of India
(b) NITI Aayog
(c) NABARD
(d) SEBI
(e) None of the above

Q4. Which bank collaborated with National Payments Corporation of India (NPCI) for launching the Rupay Credit Card through UPI using the BHIM app to leverage the reach of UPI and the strength of credit card products?
(a) Bank of Baroda
(b) Karnataka Bank
(c) ICICI Bank
(d) Canara Bank
(e) None of the above

Q5. The Insurance Regulatory and Development Authority of India (IRDAI) has directed which life insurance company to take over the life insurance business of Sahara India Life Insurance Co (SILIC) with immediate effect?
(a) SBI Life Insurance Co
(b) Max Life Insurance Co
(c) Kotak Life Insurance Co
(d) HDFC Life Insurance Co
(e) None of the above

Q6. Unified Payment Interface (UPI) transactions in India soared to unprecedented levels in May 2023, with a total transaction value of Rs 14.3 trillion and a volume of 9.41 billion. In which year UPI was introduced?
(a) 2019
(b) 2012
(c) 2016
(d) 2008
(e) None of the above

Q7. The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 2.20 crore on Indian Overseas Bank (IOB) for violating various rules and regulations. Where is headquarter of Indian Overseas Bank located?
(a) New Delhi
(b) Chennai
(c) Kolkata
(d) Mumbai
(e) None of the above

Q8. Which entity has recently updated its ‘Alert List’ to caution the public about unauthorised forex trading platforms to protect residents from fraudulent activities related to forex trading?
(a) SEBI
(b) Finance Ministry
(c) RBI
(d) NSE
(e) None of the above

Q9. Which bank has initiated a unique campaign in Chennai, titled ‘I am Adyar, Adyar is me,’ to celebrate the rich culture and stories of the local community?
(a) Federal Bank
(b) Bandhan Bank
(c) DBS Bank
(d) Canara Bank
(e) None of the above

Q10. Which bank has recently launched the Interoperable Cardless Cash Withdrawal (ICCW) facility for its customers to withdraw money from ATMs using the United Payment Interface (UPI), eliminating the need for a physical card?
(a) ICICI Bank
(b) Bank of Baroda
(c) HDFC Bank
(d) Indian Bank
(e) None of the above

Solutions

S1. Ans (c)
Sol. RBI Governor Shaktikanta Das recently unveiled a new financial inclusion dashboard called ‘Antardrishti.’ The dashboard aims to provide valuable insights and track the progress of financial inclusion by capturing relevant data.

S2. Ans (a)
Sol. RBI is set to introduce a new secured web-based portal called “PRAVAAH” (Platform for Regulatory Application, Validation And AutHorisation) aimed at simplifying and streamlining the application processes.

The portal will display the timeframes for deciding on applications and approvals, leading to greater effectiveness in regulatory processes and making it easier for regulated entities to do business with RBI.

S3. Ans(a)
Sol. The Reserve Bank of India (RBI) has recently initiated the ‘100 Days 100 Pays’ campaign, aimed at tracing and settling the top 100 unclaimed deposits of every bank in every district within a span of 100 days.
S4.Ans (d)
Sol. To leverage the reach of UPI and the strength of credit card products, Canara Bank in collaboration with National Payments Corporation of India (NPCI) launched the Rupay Credit Card through UPI using the BHIM app.

S5. Ans(a)
Sol. In a significant move, the Insurance Regulatory and Development Authority of India (IRDAI) has directed SBI Life Insurance Co to take over the life insurance business of Sahara India Life Insurance Co (SILIC) with immediate effect.
The decision comes as Sahara Life failed to comply with IRDAI’s directives and neglected to protect the interests of policyholders.
S6. Ans(c)
Sol. UPI was introduced in 2016.
The surge in UPI transactions comes at a time when the Indian government is actively promoting digital payments and aims to bring various tax collections under the digital payment ecosystem.

S7. Ans(b)
Sol. Chennai is HQ of Indian Overseas Bank.
The penalty was imposed due to the bank’s failure to make a minimum mandatory transfer of a sum equivalent to 25 percent of its disclosed profit and a significant divergence between the non-performing assets (NPAs) reported by the bank and those assessed during inspection.

S8. Ans(c)
Sol. The (RBI) has recently updated its ‘Alert List’ to caution the public about unauthorised forex trading platforms. The list, which initially contained 34 entities, has now been expanded to include eight additional names, bringing the total to 56.
S9. Ans(a)
Sol. The Federal Bank has initiated a unique campaign in Chennai, titled ‘I am Adyar, Adyar is me,’ to celebrate the rich culture and stories of the local community. The campaign transforms an entire bank branch into a museum of local stories, showcasing the struggles and triumphs of individuals who make Adyar special.
S10. Ans(b)
Sol. Bank of Baroda, a prominent public lender, has recently launched the Interoperable Cardless Cash Withdrawal (ICCW) facility for its customers.
This innovative service allows customers to withdraw money from ATMs using the United Payment Interface (UPI), eliminating the need for a physical card.