Important Current Affairs Quiz for Bank Mains Exams 2022- 4th January

Q1. Which bank has acquired a minority stake (less than 50 per cent) in JSW Cement Limited for an investment of INR 100 crore through Compulsory Convertible Preference Shares (CCPS)?
(a) Bank of Baroda
(b) State Bank of India
(c) ICICI Bank
(d) IndusInd Bank
(e) None of the above

Q2. Which of the life insurance became the first Indian insurance company to sign United Nations-supported Principles for Responsible Investment (UNPRI)?
(a) SBI Life Insurance
(b) Max Life Insurance
(c) HDFC Life Insurance
(d) ICICI Prudential Life Insurance
(e) None of the above

Q3. Equitas Small Finance Bank has empanelled as the banking partner of which state government with an aim to offer its services to employees of the State Government?
(a) Tamil Nadu
(b) Rajasthan
(c) Maharashtra
(d) Jharkhand
(e) None of the above

Q4. Which bank has signed an MoU with India Post Payments Bank (IPPB) to offer banking services to over 4.7 crore customers of IPPB in semi-urban and rural areas?
(a) Kotak Mahindra Bank
(b) Federal Bank
(c) Bank of Baroda
(d) HDFC Bank
(e) None of the above

Q5. Reserve Bank of India (RBI) has extended the card-on-file (CoF) tokenization deadline?
(a) April 31, 2022
(b) June 30, 2022
(c) August 30, 2022
(d) December 31, 2022
(e) None of the above

Q6. Which of the following revealed a draft scheme for amalgamating the Punjab and Maharashtra Cooperative (PMC) Bank with the Delhi-based Unity Small Finance Bank Ltd?
(a) Reserve Bank of India
(b) Finance Ministry
(c) SEBI
(d) NITI Aayog
(e) None of the above

Q7. The Reserve Bank of India (RBI) has introduced a prompt corrective action (PCA) framework for large non-banking financial companies (NBFCs). It will be effective from which date?
(a) April 2022
(b) October 2022
(c) December 2022
(d) July 2022
(e) None of the above

Q8. Which of the following has announced the empanelment of CSB Bank, a private sector lender as an ‘Agency Bank’?
(a) Finance Ministry
(b) Securities Exchange Board of India
(c) Reserve Bank of India
(d) Indian Bank Association
(e) None of the above

Q9. Which bank has announced the launch of ‘green fixed deposits’, whereby the deposit proceeds will be used to finance projects and firms supporting the UN’s Sustainable Development Goals (SDGs)?
(a) IndusInd Bank
(b) DBS Bank
(c) Karur Vyasy Bank
(d) IDFC First Bank
(e) None of the above

Q10. Which bank has won the first position in overall digital transactions amongst large banks for FY20-21 at the Ministry of Electronics & Information Technology (MeitY)’s Digital Payments Utsav?
(a) Punjab National Bank
(b) State Bank of India
(c) Canara Bank
(d) Bank of Baroda
(e) None of the above

Solutions

S1.Ans(b)
Sol. State Bank of India(SBI) acquired a minority stake (less than 50 per cent) in JSW Cement Limited for an investment of INR 100 crore through Compulsory Convertible Preference Shares (CCPS).

S2.Ans (d)
Sol. ICICI Prudential Life Insurance became the first Indian insurance company to sign United Nations-supported Principles for Responsible Investment (UNPRI).

S3.Ans(c)
Sol. Equitas Small Finance Bank has empanelled as the banking partner of the state government of Maharashtra with an aim to offer its services to employees of the State Government.

S4.Ans (d)
Sol. HDFC Bank has signed an MoU with India Post Payments Bank (IPPB) to offer banking services to over 4.7 crore customers of IPPB in semi-urban and rural areas.

S5.Ans(b)
Sol. Reserve Bank of India (RBI) has extended the cardon-file (CoF) tokenization deadline by 6 months i.e., to June 30, 2022. Earlier the deadline was fixed till December 31, 2021.

S6.Ans(a)
Sol. The Reserve Bank of India (RBI) revealed a draft scheme for amalgamating the Punjab and Maharashtra Cooperative (PMC) Bank with the Delhi-based Unity Small Finance Bank Ltd (USFB).

S7.Ans(b)
Sol. The Reserve Bank of India (RBI) has introduced a prompt corrective action (PCA) framework for large non-banking financial companies (NBFCs) with effect from October 2022.

S8.Ans(c)
Sol. Reserve Bank of India (RBI) has announced the empanelment of CSB Bank, a private sector lender as an ‘Agency Bank’.

S9.Ans(a)
Sol. IndusInd Bank has announced the launch of ‘green fixed deposits’, whereby the deposit proceeds will be used to finance projects and firms supporting the UN’s Sustainable Development Goals (SDGs).

S10.Ans(d)
Sol. Bank of Baroda has announced it has won the #1 position in overall digital transactions amongst large banks for FY20-21.