Banking Awareness Quiz With Explanation: Part 19

(1). Karnataka Bank has launched co-branded credit cards with which of the following Public Sector Bank(PSB)?
(a) Punjab National Bank
(b) State Bank of India
(c) Bank of Baroda
(d) Canara Bank

(2). Who is appointed as the new MD and CEO of IDBI bank?
(a) Rakesh Sethi
(b) Ravindra Prabhakar Marathe
(c) Ashwani Kumar
(d) Mahesh Kumar Jain

(3). Country's second largest private sector lender HDFC Bank has launched its unified payment interface(UPI) app on
(a) Chillr
(b) Truecaller
(c) FYERS
(d) Capital Float

(4). Canara Bank has partnered with which of the following telecom company to upgrade bandwidth at all of its branches?
(a) Bharti Airtel
(b) BSNL
(c) Reliance Jio
(d) IDEA

(5). Fino Paytech(a payment Bank) has inked a deal with which of the following bank to distribute insurance products?
(a) Bank of Baroda
(b) HDFC Bank
(c) State Bank of India
(d) ICICI

(6). Which of the following Private Bank/Small Finance Bank has launched 'Hrudaya Deposit' scheme?
(a) Janalakshmi Financial services
(b) Axis Bank
(c) ESAF
(d) Ujjivan Financial Services

(7). Who is appointed as the new Executive Director of the RBI?
(a) Malvika Sinha
(b) B P Kanungo
(c) Pradeep Kumar
(d) Chirag Trivedi

(8). What is 'A' stands for in FATCA(related to tax)?
(a) Anti
(b) Asset
(c) Audit
(d) Account

(9). Who is the new MD of Saraswat Cooperative Bank?
(a) Arun Shrivastava
(b) Smita Sandhane
(c) Pawan Kumar Bajaj
(d) Kishore Kumar Sansi

(10). Who is the new Country Director of India Resident Mission of the Asian Development Bank (ADB)?
(a) Lei Kan
(b) Kenichi Yokoyama
(c) Xiaohong Yang
(d) None of the above

EXPLANATION:

(1). Answer Key: (b)
Karnataka Bank and SBI Card have launched co-branded credit cards for the customers of Karnataka Bank. Through this alliance Karnataka Bank and SBI Card will launch two variants of the cobranded credit card – ‘Karnataka Bank Platinum SBI Card’ and ‘Karnataka Bank SimplySAVE SBI Card’.

(2). Answer Key: (d)
IDBI has appointed Mahesh Kumar Jain as the Managing Director & CEO with immediate effect. Before his role in IDBI, Jain was the Managing Director & Chief Executive Officer of Indian Bank. He was also a member of the steering committee on Risk Management of IBA and a member of the IBA working group on risk management and implementation of Basel II and III. He was also the secretary & coordinator to Basant Seth Committee on review & revamp of internal & concurrent audit system in PSBs.

(3). Answer Key: (a)
HDFC Bank has launched its unified payment interface app on the fintech startup Chillr. The UPI on Chillr is in addition to the same facility available on the bank's mobile banking application.

(4). Answer Key: (b)
Canara Bank, a public sector bank, has embarked upon an ambitious project of upgrading the bandwidth at all its branches to 2 Mbps in partnership with BSNL.

(5). Answer Key: (d)
Fino Paytech, which just received the Reserve Bank of India's licence to launch a payments bank, has inked a deal with ICICI group companies to distribute insurance products and tied up with Exide Life insurance to sell products via its distribution channel. Fino Payments Bank will sell life and general insurance products of ICICI Prudential and ICICI Lombard.

(6). Answer Key: (c)
ESAF Small Finance Bank has launched a social deposit scheme called Hrudaya Deposit at a function held in Thrissur. The deposit scheme, as the name suggests, stands for a social cause, through which, ESAF Bank provides the customers with an opportunity to be a part in social welfare projects, which none of the other banks has given so far.

(7). Answer Key: (a)
The Reserve Bank has appointed MalvikaSinha as Executive Director following the appointment of B P Kanungo as Deputy Governor. As Executive Director, she will look after foreign exchange department, department of government and bank accounts and internal debt management wing, RBI said in a release.

(8). Answer Key: (d)
Recently, Bank accounts opened between July 1, 2014 and August 31, 2015 need to submit self certification by April 30 to comply with FATCA (Foreign Account Tax Compliance Act) provisions, without which the accounts would be blocked.

(9). Answer Key: (b)
Smita Sandhane has taken charge as Managing Director of the Saraswat Cooperative Bank with effect from April 1. She is the first woman chief of India's largest urban co-operative bank. Prior to her elevation, Sandhane was the Joint Managing Director of the bank. She has been with the bank since 1982.

(10). Answer Key: (b)
Yokoyama replaces M Teresa Kho who is now posted as Deputy Director General of ADB’s East Asia Department in Manila. Yokoyama was previously heading the Nepal Resident Mission of ADB.