General Awareness Quiz for Bank Mains Exams 2023 -17th May

Q1. Which bank launches digital distribution platform called ‘Smart Saathi’ for its agents and partners to take banking products and services to the last mile, and contribute to the development of the country?
(a) DCB Bank
(b) ICICI Bank
(c) Indian Bank
(d) HDFC Bank
(e) None of the above

Q2. Which global card transaction company has launched a new feature in India that allows users to make online payments without the need for a CVV number?
(a) MasterCard
(b) American Express
(c) RBC
(d) Visa
(e) None of the above

Q3. The Securities and Exchange Board of India (SEBI) has introduced LEI system for issuers that have listed or are planning to list non-convertible securities, securitized debt instruments, and security receipts. What is the meaning of abbreviation of ‘L’ is LEI system?
(a) Legal
(b) Listed
(c) Limit
(d) Long term
(e) None of the above

Q4. Which of the small finance bank has teamed up with RuPay to introduce the Business Cashback RuPay credit card, a novel solution designed to fulfill the financial requirements of self-employed clients?
(a) Utkarsh Small Finance Bank
(b) AU Small Finance Bank
(c) Suryodaya Small Finance Bank
(d) Jana Small Finance Bank
(e) None of the above

Q5. Which payments bank has collaborated with the National Payments Corporation of India (NPCI) to introduce face authentication for the Aadhaar-enabled Payment System (AePS) recently?
(a) Jio Payments Bank
(b) Airtel Payments Bank
(c) Post Payments Bank
(d) Fino Payments Bank
(e) None of the above

Q6. Which bank has joined hands with Cashfree Payments to launch ‘Global Collections‘, an international collection service for exporters?
(a) DCB Bank
(b) IDFC First Bank
(c) YES Bank
(d) HDFC bank
(e) None of the above

Q7. Which of the following entity has issued new instructions to all banks and financial institutions in the country to ensure that all wire transfers, whether domestic or international, contain complete information about the originator and beneficiary?
(a) Bombay Stock Exchange
(b) National Payment Corporation of India
(c) Securities and Exchange Board of India
(d) Reserve Bank of India
(e) None of the above

Q8. Sberbank has developed a technology named GigaChat to compete with ChatGPT in the artificial intelligence chatbot race. Sberbank is based in which country?
(a) Singapore
(b) Egypt
(c) Russia
(d) Sweden
(e) None of the above

Q9. The Reserve Bank of India (RBI) imposed a monetary penalty of Rs 1.73 crore on which of the bank for violating the Credit Information Companies Rules, 2006?
(a) HSBC Bank
(b) Kotak Mahindra Bank
(c) Axis Bank
(d) DSB Bank
(e) None of the above

Q10. The Reserve Bank of India (RBI) and the Bank for International Settlements (BIS) launch which edition of G20 TechSprint competition improving cross-border payments through innovative technology solutions?
(a) First
(b) Fourth
(c) Third
(d) Fifth
(e) None of the above

Solutions

S1. Ans(d)
Sol. HDFC Bank, one of India’s leading private sector banks, has introduced its digital distribution platform, HDFC Bank Smart Saathi, to connect business correspondents (BCs) and business facilitators (BFs) to the bank.

The platform aims to take banking products and services to the last mile, and contribute to the development of the country.

S2. Ans (d)
Sol. Visa, the global card transaction company, has launched a new feature in India that allows users to make online payments without the need for a CVV number. The feature applies to tokenised credit and debit cards and is only available for domestic transactions in India.

The new authentication method protects users from cyber fraud as the token cannot be used on another platform.

S3. Ans(a)
Sol. The Securities and Exchange Board of India (SEBI) has introduced the Legal Entity Identifier (LEI) system for issuers that have listed or are planning to list non-convertible securities, securitized debt instruments, and security receipts.

This unique global identifier for legal entities participating in financial transactions aims to create a global reference data system that uniquely identifies every legal entity that is a party to a financial transaction.

S4.Ans (b)
Sol. AU Small Finance Bank has teamed up with RuPay to introduce the Business Cashback RuPay credit card, a novel solution designed to fulfill the financial requirements of self-employed clients.
The latest product is intended to provide a wide range of advantages to small enterprises. The CEO of National Payments Corporation of India (NPCI), Dilip Asbe, and the MD & CEO of AU Small Finance Bank, Sanjay Agarwal, were present at the card’s launch.

S5. Ans(b)
Sol. Airtel Payments Bank has collaborated with the National Payments Corporation of India (NPCI) to introduce face authentication for the Aadhaar-enabled Payment System (AePS) at its five lakh banking points.

The move comes as one of the first initiatives of its kind in India, where four banks have partnered with NPCI to offer face authentication for AePS.

S6. Ans(c)
Sol. Cashfree Payments and YES Bank have joined hands to launch ‘Global Collections‘, an international collection service for exporters who hold an account with YES Bank.

This partnership enables the bank’s account holders to collect payments in over 30 foreign currencies using the Global Collections service.

S7. Ans(d)
Sol. The Reserve Bank of India (RBI) has issued new instructions to all banks and financial institutions in the country to ensure that all wire transfers, whether domestic or international, contain complete information about the originator and beneficiary.
The move is aimed at preventing wire transfers from being used as a channel for money laundering and financing terrorism. The updated instructions are part of the Master Direction on Know Your Customer (KYC) and are aligned with the recommendations of the Financial Action Task Force (FATF).

S8. Ans(c)
Sol. Sberbank has developed a technology named GigaChat to compete with ChatGPT in the artificial intelligence chatbot race. Initially available in an invite-only testing mode, GigaChat stands out with its ability to communicate more intelligently in Russian than other foreign neural networks.
The release of Microsoft-backed OpenAI’s ChatGPT last year has spurred the technology industry to incorporate AI further into users’ hands to reshape how people work and win business.

S9. Ans(a)
Sol. The Reserve Bank of India (RBI) imposed a monetary penalty of Rs 1.73 crore on the Hongkong and Shanghai Banking Corporation Ltd (HSBC Bank) for violating the Credit Information Companies Rules, 2006.

The RBI stated that during their examination of the Risk Assessment Report and all related correspondences pertaining to the same, it was discovered that the bank had breached the aforementioned rules.

S10. Ans(b)
Sol. The Reserve Bank of India (RBI) and the Bank for International Settlements (BIS) have announced the launch of the G20 TechSprint 2023, a global competition aimed at improving cross-border payments through innovative technology solutions.

The fourth edition of the competition was unveiled on May 4, and it is open to global innovators.