General Awareness Quiz for Bank Mains Exams 2023-29th April

Q1. Give the name of a neo banking startup which has obtained a non-banking finance company (NBFC) license from the Reserve Bank of India (RBI) to enable the company to provide credit from its own resources.
(a) Jupiter
(b) Magma
(c) Findeck
(d) Elipsee
(e) None of the above

Q2. Amrit Kalash scheme offers a special tenor of 400 days and provides an interest rate of 7.6% for senior citizens and 7.1% for others. Which bank reintroduced this Amrit Kalash scheme?
(a) Bank of Baroda
(b) HDFC Bank
(c) State Bank of India
(d) Axis Bank
(e) None of the above

Q3. Which bank has introduced a new feature that allows customers to use voice biometric authentication when logging into the bank’s mobile banking app, aimed at improving security?
(a) Bank of America
(b) City Union Bank
(c) Axis Bank
(d) IDFC First Bank
(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. Which bank has announced its collaboration with the Swedish company Crunchfish to launch a pilot project to demonstrate offline retail payments?
(a) IDFC First Bank
(b) Canara Bank
(c) Kotak Mahindra Bank
(d) DBS Bank
(e) None of the above

Q6. Which bank has introduced a new customer-friendly service called “Digitalised Submission of Form 15G/15H,” with an aim to enhance customer satisfaction?
(a) Canara Bank
(b) Bank of Maharashtra
(c) ICICI Bank
(d) Indian Bank
(e) None of the above

Q7. The Reserve Bank of India launched __________key surveys, the results of which provide “useful inputs” for the central bank’s bi-monthly monetary policy.
(a) Six
(b) Two
(c) Five
(d) Three
(e) None of the above

Q8. Which of the following would launch a pilot project to evaluate the operation of a QR-code based coin vending machine in collaboration with banks?
(a) Indian Banks’ Association
(b) Institute for Development and Research in Banking Technology
(c) Reserve Bank of India
(d) National Payment Corporation of India
(e) None of the above

Q9. Which bank announced that the Reserve Bank of India (RBI) has granted approval for the appointment of Sekhar Rao as the interim managing director and chief executive officer?
(a) Karnataka Bank
(b) Indian Bank
(c) Bank of Maharashtra
(d) DBS Bank
(e) None of the above

Q10. Which Small Finance Bank has announced that it has been granted permission by the Reserve Bank of India (RBI) to act as an authorized dealer in foreign exchange?
(a) Ujjivan Small Finance Bank
(b) AU Small Finance Bank
(c) Jana Small Finance Bank
(d) Suryodaya Small Finance Bank
(e) None of the above

Solutions

S1. Ans(a)
Sol. Jupiter, a neobanking startup, has obtained a non-banking finance company (NBFC) license from the Reserve Bank of India (RBI), enabling the company to provide credit from its own resources.

According to Jitendra Gupta, the founder of Amica Financial Technologies Ltd., which operates Jupiter, the company will appoint a professional chief executive officer to manage the NBFC operations.

S2. Ans (c)
Sol. State Bank of India (SBI), India’s largest lender by assets, has announced the re-introduction of its retail term deposit scheme, Amrit Kalash. The scheme offers a special tenor of 400 days and provides an interest rate of 7.6% for senior citizens and 7.1% for others.

S3. Ans(b)
Sol. City Union Bank Limited (CUB) has introduced a new feature that allows customers to use voice biometric authentication when logging into the bank’s mobile banking app, aimed at improving security.

The bank plans to extend this feature to net banking users as well, and the development process is currently underway.

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. IDFC First Bank has announced its collaboration with the Swedish company Crunchfish to launch a pilot project to demonstrate offline retail payments.

S6. Ans(a)
Sol. Canara Bank, in partnership with the Reserve Bank Innovation Hub (RBIH), has introduced a new customer-friendly service called “Digitalised Submission of Form 15G/15H,” which is aimed at enhancing customer satisfaction.

These are self-declaration forms that individuals submit to the bank to avoid the deduction of TDS on interest income, provided their income is below the basic exemption limit. These forms, namely Form 15G (for individuals and HUFs) and Form 15H (for senior citizens), require PAN information to be furnished.

S7. Ans(b)
Sol. The Reserve Bank of India launched two key surveys, the results of which provide “useful inputs” for the central bank’s bi-monthly monetary policy.

S8. Ans(c)
Sol. RBI Governor Shaktikanta Das had stated during the most recent Monetary Policy Committee (MPC) address that the apex banking regulator, in collaboration with banks, would launch a pilot project to evaluate the operation of a QR-code based coin vending machine.

S9. Ans(a)
Sol. Karnataka Bank, a private lender based in Mangaluru, announced that the Reserve Bank of India (RBI) has granted approval for the appointment of Sekhar Rao, the bank’s executive director, as the interim managing director and chief executive officer.

S10. Ans(b)
Sol. AU Small Finance Bank has announced that it has been granted permission by the Reserve Bank of India (RBI) to act as an authorized dealer in foreign exchange.

The bank has received a license to operate as an Authorized Dealer Category-I (AD-I) under section 10 of FEMA, 1999.