Important Current Affairs Quiz for Bank Exams 2021- 9th July

Q1. Which bank has raised $1 billion from Japan Bank for International Cooperation (JBIC) to extend loans to the supply chain of the Japanese automobile industry in India?
(a) HDFC Bank
(b) State Bank of India
(c) HSBC India
(d) Bank of America
(e)None of these

Q2. The Reserve Bank of India has enhanced the limit of maximum balance at end of the day maintained in Payments Bank. The limit is enhanced from Rs 1 lakh to how much per individual customer?
(a) Rs 2 lakh
(b) Rs 3 lakh
(c) Rs 5 lakh
(d) Rs 10 lakh
(e)None of these

Q3. Which payment bank has launched its new ‘Rewards123’ savings account, which provides customers with perks and rewards?
(a) Fino Payment Bank
(b) India Post Payment Bank
(c) Jio Payments Bank
(d) Airtel Payments Bank
(e)None of these

Q4. Which bank has announced the launch of a digital and contactless banking platform, especially for retail merchants called ‘Merchant Stack’?
(a) HDFC Bank
(b) ICICI Bank
(c) Axis Bank
(d) Mercantile Co-op. bank
(e)None of these

Q5. The Reserve Bank of India (RBI) has set up a new Regulations Review Authority (RRA 2.0) from May 1, 2021. Who is headed the RRA 2.0?
(a) S. Janakiraman
(b) M Rajeshwar Rao
(c) G Krishna
(d) Arijit Basu
(e) b&d both

Q6. Axis Bank Ltd informed it has become co-promoters of Max Life Insurance Company Limited, after completion of the acquisition how much percent of stake in the company?
(a) 13.99%
(b) 11.78%
(c) 12.99%
(d)14.39%
(e)None of these

Q7. The Reserve Bank of India (RBI) has capped the tenure of Managing Director and Chief Executive of commercial banks to ________ years?
(a) 10
(b) 15
(c) 20
(d) 25
(e)None of these

Q8. The Reserve Bank of India (RBI) has cancelled the license of Bhagyodaya Friends Urban Co-operative Bank Limited due to inadequate capital; it is based on which state?
(a) Karnataka
(b) Uttar Pradesh
(c) Uttrakhand
(d) Maharashtra
(e)None of these

Q9. The Reserve Bank of India (RBI) has joined the Central Banks and Supervisors NGFS, What is the full form of NGFS?
(a) Network for Greening the Financial Security
(b) Network for Guarantee against the Fraud Security
(c) Network for Greening the Financial System
(d) Network for Gearing up the Financial Security
(e) None of these

Q10. On the recommendation of the which committee the Reserve Bank of India has increased the limit for Way and Means Advances (WMA) for the State Governments/UTs?
(a) S S Malikaruna Rao
(b) Sudhir Shrivastava
(c) Pallav Mohapatra
(d) Partha Sengupta
(e)All of the above

Solutions

S1.Ans(b)
Sol. SBI will provide the loan is in the form of refinancing against the funding support provided to the manufacturers, suppliers and dealers of Japanese automobiles in India.

S2.Ans(a)
Sol. The Reserve Bank of India has enhanced the limit of maximum balance at end of the day maintained in Payments Bank from Rs 1 lakh to Rs 2 lakh per individual customer.

S3.Ans(d)
Sol. Airtel Payments Bank launched the Rewards123 Savings Account is built specifically that allows you to get access to a variety of perks when you save and transact digitally.

S4.Ans(b)
Sol. The ICICI Bank has announced the service, called ‘Merchant Stack’, is targeted at the over 2 crore retail merchants in the country, covering grocers, supermarkets, large retail store chains, online businesses and large e-commerce firms.

S5.Ans(b)
Sol. The RRA has set up for a period of one year unless the timeline is extended by the RBI. M Rajeshwar Rao, Deputy Governor, RBI will be the head of the Regulations Review Authority.

S6.Ans(c)
Sol. Axis Bank Ltd informed it has become co-promoters of Max Life Insurance Company Limited, after completion of the acquisition of 12.99% stake collectively by the Axis Entities in the company.

S7.Ans(b)
Sol. The Reserve Bank of India (RBI) has capped the tenure of Managing Director and Chief Executive of commercial banks to 15 years. The upper age limit for MD & CEO and WTDs in private banks has been retained at 70 years.

S8.Ans(d)
Sol. The Reserve Bank of India (RBI) has cancelled the licence of Maharashtra-based Bhagyodaya Friends Urban Co-operative Bank Limited.

S9.Ans(c)
Sol. The Reserve Bank of India (RBI) has joined the Central Banks and Supervisors Network for Greening the Financial System (NGFS) as a member. The central bank joined the NGFS on April 23, 2021.

S10.Ans(b)
Sol. The Reserve Bank of India has increased the limit for Way and Means Advances (WMA) for the State Governments/UTs from Rs. 32,225 crore (fixed in February 2016) to Rs. 47,010 crore based on the recommendation of a committee headed by Shri Sudhir Shrivastava.