10 Dec
With a view to help candidates crack the Banking GK Questions in the General Awareness section of upcoming IBPS and SBI exams, faculty members from Vidya Guru Institute have compiled a Quiz based on significant events of the past few days. As a candidate who is serious about making a career in Public Sector Banking, you mustn’t neglect this Quiz.
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Banking Awareness December 2021 Quiz
Question 1) Which of the following banks launched a co-branded credit card ‘FinBooster’ in partnership with BankBazaar?
A) Axis Bank
B) ICICI Bank
C) SBI
D) Yes Bank
E) HDFC Bank
Answer – D) Yes Bank
Explanation: Yes Bank and BankBazaar.com launched the co-branded credit card “FinBooster”.
Yes Bank:
CEO: Prashant Kumar
Headquarters: Mumbai
Question 2) Which of the following banks was recently appointed as an agency bank?
A) Federal Bank
B) Capital First Bank
C) RBL Bank
D) IDFC First Bank
E) Bandhan Bank
Answer – E) Bandhan Bank
Explanation: Bandhan Bank was appointed as an agency bank by the Reserve Bank of India(RBI) for undertaking government business. It will collect state taxes and revenue receipts (GST and VAT) stamp duty and pension payments as a representative of both the Central and the State governments.
Key Points:
● South Indian Bank, Karnataka Bank, DCB Bank, RBL Bank, Dhanlaxmi Bank, and IndusInd Bank are the other agency banks of RBI.
● HQ of Bandhan Bank – Kolkata; Chairperson – Anup Kumar Sinha; Established in – 2001
● HQ of RBI – Mumbai; Governor – Shaktikanta Das (25th); Established in – 1st April 1935
Question 3) Which of the following banks launched the online platform ‘Trade Emerge’?
A) Axis Bank
B) ICICI Bank
C) SBI
D) Yes Bank
E) HDFC Bank
Answer – B) ICICI Bank
Explanation: An online platform called ‘Trade Emerge’ for Indian exporters and importers to provide them digital banking and value-added services is launched by ICICI Bank. The exporters and importers who are not the customers of ICICI Bank can also use the benefit of this platform.
About ICICI:
CEO: Sandeep Bakhshi
Headquarters: Vadodara
Question 4) India’s first credit card made from recycled PVC (Polyvinyl chloride) plastic was launched by ______
A) Axis Bank
B) ICICI Bank
C) SBI
D) Yes Bank
E) HSBC Bank India
Answer – E) HSBC Bank India
Explanation: HSBC Bank India launched the country’s first recycled PVC plastic credit card. These cards are made from 85% recycled plastic.It will help to save 3.18 gm of plastic waste per card.
About HSBC Bank India:
CEO: Hitendra Dave
Headquarters: Mumbai
Question 5) Which of the following banks launched a QR Sound box for payment alerts?
A) AU Small Finance Bank
B) Capital First Bank
C) RBL Bank
D) IDFC First Bank
E) Bandhan Bank
Answer – A) AU Small Finance Bank
Explanation: AU Small Finance Bank which is also known as India’s largest Small Finance Bank has launched a sound box to provide instant voice-based payment alerts to merchant partners. The available languages are Hindi, English, Punjabi, Gujarati and Marathi.
AU Small Finance Bank:
Headquarters: Jaipur
Question 6) Which of the following is the 12th small finance bank to begin operations with over Rs 1,100 crore of equity capital?
A) Fincare Small Finance Bank Limited
B) Jana Small Finance Bank Limited
C) Unity Small Finance Bank Ltd
D) North East Small Finance Bank Limited
E) Shivalik Small Finance Bank Limited
Answer – C) Unity Small Finance Bank Ltd
Explanation: The Reserve Bank of India(RBI) issued the small finance bank status to Unity Small Finance Bank Ltd (USFBL), which was established jointly by the Centrum Financial Services Ltd (CFSL) and Resilient Innovations Private Limited (BharatPe).
Question 7) The limit for Ways and Means Advances (WMA) for the second half of the current fiscal year 2021-22 i.e October 2021 to March 2022 is fixed at _______
A) Rs. 25 crore
B) Rs. 50 crore
C) Rs. 45 crore
D) Rs. 60 crore
E) Rs. 75 crore
Answer – B) Rs. 50 crore
Explanation: The limit for Ways and Means Advances (WMA) for the second half of the current fiscal year 2021-22 i.e October 2021 to March 2022 is – Rs. 50 crore by RBI.
Key Points:
● The interest rate for WMA – Repo Rate.
● HQ of RBI – Mumbai; Governor – Shaktikanta Das (25th); Established in – 1st April 1935
Question 8) Which of the following banks was recently removed from the PCA framework by RBI?
A) Central Bank of India
B) Indian Overseas Bank
C) IDBI Bank
D) UCO Bank
E) None of the Above
Answer – B) Indian Overseas Bank
Explanation: IOB was recently removed from the PCA framework by RBI. The Reserve Bank of India has also removed the IDBI Bank and UCO Bank earlier this year.
Question 9) The State Bank of India(SBI) has opened a floating ATM on a Houseboat at _______
A) Mansar Lake
B) Wular Lake
C) Anchar Lake
D) Manasbal Lake
E) Dal Lake
Answer – E) Dal Lake
Explanation: The State Bank of India(SBI) has opened a floating ATM on a Houseboat at Dal Lake in Jammu & Kashmir.
Question 10) India’s first-ever standalone metal debit card will be launched by _______
A) AU Small Finance Bank
B) Capital First Bank
C) RBL Bank
D) IDFC First Bank
E) Bandhan Bank
Answer -D) IDFC First Bank
Explanation: IDFC First Bank will launch India’s first-ever standalone metal debit card. IDFC First Bank Headquarters: Mumbai
Question 11) All resident individuals, including minors, are allowed to freely remit up to ______ per fiscal year (April – March) under the Liberalised Remittance Scheme(LRS)
A) USD 2,50,000
B) USD 1,50,000
C) USD 3,50,000
D) USD 4,50,000
E) USD 5,50,000
Answer – A) USD 2,50,000
Explanation: All resident individuals, including minors also are allowed to freely remit up to USD 2,50,000 per financial year (April – March) under this scheme.
Question 12) The Liberalised Remittance Scheme (LRS) is not available for _____
A) HUF
B) Trusts
C) Corporates
D) Partnership Firms
E) All of these
Answer – E) All of these
Explanation: The Liberalised Remittance Scheme (LRS) is not available for
● Corporates
● Partnership firms
● HUF and Trusts etc
Question 13) Which of the following is the head-quarters of Asian Clearing Union (ACU)?
A) Islamabad
B) Tehran
C) Kathmandu
D) New Delhi
E) Male
Answer – B) Tehran
Explanation: The head-quarters of Asian Clearing Union (ACU) – Tehran, Iran.
Question 14) Which of the following countries is not a member of Asian Clearing Union (ACU)?
A) Bangladesh
B) Nepal
C) Sri Lanka
D) Singapore
E) India
Answer – D) Singapore
Explanation: Currently the members of the ACU are
● Bangladesh
● Bhutan
● India
● Iran
● Maldives
● Myanmar
● Nepal
● Pakistan
● Sri Lanka
Question 15) In “RDG” account, “D” stands for
A) Debit
B) Development
C) Deferred
D) Debt
E) Direct
Answer – E) Direct
Explanation: RDG – Retail Direct Gilt (RDG)
Question 16) Which of the following Government securities is allowed the investors to invest through the Retail Direct platform?
A) Government of India Treasury Bills (T-Bills)
B) Government of India dated securities (dated G-Sec)
C) State Development Loans (SDLs)
D) Sovereign Gold Bonds (SGB)
E) All of these
Answer – E) All of these
Explanation: Government securities that allow the investors to invest through the Retail Direct platform are listed below.
● Government of India Treasury Bills (T-Bills)
● Government of India dated securities (dated G-Sec)
● State Development Loans (SDLs)
● Sovereign Gold Bonds (SGB)
Question 17) Which of the following facilities is available on the RBI Retail Direct Portal?
A) Buying Government securities through primary auctions
B) Buying & selling G-sec in the secondary market.
C) Buying & selling SGBs in the primary and secondary market.
D) Investor services
E) All of these
Answer – E) All of these
Explanation: All the above mentioned facilities are available on the RBI Retail Direct Portal.
Investor services
● Account statement
● Profile Management
● Nomination facility
● Pledge/lien
● Gift transactions
● Grievance redressal
Question 18) What is the cost of opening and maintaining a RDG Account?
A) Rs. 500
B) Rs. 1000
C) Rs. 250
D) Rs. 750
E) Free of cost
Answer – E) Free of cost
Explanation:
“Retail Direct Gilt (RDG)” Account can be opened and maintained with RBI at free of cost.
Question 19) How many nominees can be entered for opening a RDG Account?
A) 1
B) 2
C) 3
D) 4
E) 5
Answer – B) 2
Explanation: Upto two nominees can be entered for opening a Retail Direct Gilt (RDG) Account.
Question 20) How many RDG accounts can be opened by Retail Investors?
A) 1
B) 2
C) 3
D) Only one
E) Only two
Answer -D) Only one
Explanation: Only one Retail Direct Gilt (RDG) account can be opened by Retail Investors.
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Summary
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