Banking Awareness September Set 2 by Dr.

Gaurav Garg

Q) Who has been re-elected as President of the African Development Bank Group?
A.Omar Kabbaj B.Godwin Gondwe
C.Donald Kaberuka D.Akinwumi Adesina

Q) Vedanta Ltd has tied up with which bank for a long-term syndicated loan facility worth Rs 10,000 crore?
A.Bank of Baroda B.State Bank of India
C.Punjab National Bank D.Canara Bank

Vedanta ties up with SBI for long-term syndicated loan of Rs 10,000 cr

● A syndicated loan is offered by a group of lenders who work together to provide credit to a large borrower.
● Vedanta Ltd has tied up a long-term syndicated loan facility for Rs 10,000 crore with State Bank of India as facility
agent and SBICAP Trustee Company Ltd as the security trustee with door to door tenor of seven years.

Q) Which bank has launched the virtual property exhibition ‘Home Utsav’?
A.Axis Bank B.Kotak Mahindra Bank
C.HDFC Bank D.ICICI Bank

Q) Which bank will invest 650 million Euro into the construction of Kanpur's first city metro line?
A.World Bank B.Asian Development Bank
C.European Investment Bank D.New Development Bank

European Investment Bank To Invest 650 Million Euro In Kanpur Metro Project
● The European Investment Bank (EIB) will invest 650 million euro in Kanpur Metro, its second-biggest operation
outside the EU till date.
● The EIB had earlier sanctioned a 450 million euro loan for the development of Lucknow Metro.

Q) Who has been appointed as the Brand Ambassador of the Bajaj Allianz Life Insurance?
A.Vicky Kaushal B.Ayushmann Khurrana
C.Ranveer Singh D.Rajkumar Rao

Q) Who has been appointed as the Managing Director and Chief Executive Officer of Punjab & Sind Bank?
A.Sanjiv Chadha B.Pramod Agrawal
C.S Krishnan D.Sanjeev Razdan

Q) Who has been appointed as the new MD & CEO of South Indian Bank?
A.Anil Kumar Chaudhary B.Siddhartha Mohanty
C.Murali Ramakrishnan D.Rajiv Bansal

Q) Which bank has launched the ‘Second Innings Tap VRS-2020‘ scheme?
A.Bank of Baroda B.Punjab National Bank
C.Canara Bank D.State Bank of India

SBI plans VRS scheme covering 30,000 staff as it seeks to optimise costs
● The proposed scheme -- 'Second Innings Tap VRS-2020' -- is aimed at optimising human resources and costs of the
bank.
● The scheme will be opened to all permanent officers and staff who have put in 25 years of service or have completed
55 years of age on the cut-off date.
● The scheme will open on December 1 and will remain open till the end of February, adding that applications for VRS
will be accepted during this period only.

Q) Which Payments Bank has ceased to be a banking company within the meaning of the Banking Regulation Act?
A.Airtel Payments Bank B.India Post Payments Bank
C.NSDL Payments Bank D.Aditya Birla Idea Payments Bank

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Aditya Birla Idea Payments Bank ceased to be banking company: RBI
● Aditya Birla Idea Payments Bank was promoted by Grasim Industries Limited and Vodafone Idea Limited with 51 and
49 per cent shareholdings respectively.
● In another notification, the RBI said Westpac Banking Corporation has also ceased to be a banking company

Q) Rajiv B Lall has quit from the post of the part-time non-executive chairman of which bank?
A.Karur Vysya Bank B.Kotak Mahindra Bank
C.Lakshmi Vilas Bank D.IDFC First Bank

Q) Which district of Tamil Nadu has been selected as the first Fully Digital Economy district of state?
A.Dindigul B.Madurai
C.Virudhunagar D.Perambalur

Q) Which state has signed a $82 million loan agreement with World Bank for the implementation of State Roads
Transformation Project?
A.Uttarakhand B.Assam
C.Himachal Pradesh D.Bihar

Q) Which among the following financial company has decided to launch PayBima?
A.Bajaj Finance B.Tata Capital
C.Mahindra Finance D.HDB Finance Services

Mahindra Finance's subsidiary set to enter online insurance, will launch portal called PayBima
● The new portal would play a role in the transformation of Mahindra’s insurance broking services to a “phygital”
model, which would leverage its feet-on-the-street agents at more than 400 locations in the country, with the digital
aggregation and settlement services.
● The move to launch the portal would put it in direct competition against leading digital aggregators and brokers such
as Policybazaar, Coverfox, Paytm and the traditional players in the insurance and reinsurance market, such as
Marsh and Anand Rathi.

Q) Which bank has launched an international contactless debit card, “Signature Visa Debit Card”?
A.Bank of India B.Canara Bank
C.Union Bank of India D.UCO Bank

Bank of India launches ‘Signature Visa Debit Card’ for HNIs

● On Bank of India (BoI)’s 115th Foundation Day, BoI has launched an international contactless debit card, “Signature
Visa Debit Card” for high net worth individuals who are maintaining an average quarterly balance of Rs 10 lakhs
and above.
● This card will have a spending limit of up to ₹5 lakhs on POS & e-commerce and ₹1 lakh on ATM.
● On the occasion of the Bank’s 115th Foundation Day on Monday, MD & CEO AK Das virtually inaugurated new
buildings of Rural Self Employment Training Institutes (RSETI) at Barabanki, Lucknow (Uttar Pradesh) and Giridih
(Jharkhand).

Q) Which bank has topped the EASE Banking Reforms Index 2.0 in the ‘Top Performing Banks’ category ?
A.State Bank of India B.Bank of Baroda
C.Oriental Bank of Commerce D.Union Bank of India

Finance Minister unveils Doorstep Banking Services and declares EASE 2.0 Index Results
● Union Minister of Finance & Corporate Affairs Smt. Nirmala Sitharaman inaugurated Doorstep Banking Services by
PSBs and participated in the awards ceremony to felicitate best performing banks on EASE Banking Reforms Index.

Doorstep Banking Services by PSBs

● As part of the EASE Reforms, Doorstep Banking Services is envisaged to provide convenience of banking services to
the customers at their door step through the universal touch points of Call Centre, Web Portal or Mobile App.
● Customers can also track their service request through these channels.
● The services shall be rendered by the Doorstep Banking Agents deployed by the selected Service Providers at 100
centres across the country.

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Q) Which bank has launched the ‘iStartup2.0’ programme for start-ups?
A.Axis Bank B.HDFC Bank
C.ICICI Bank D.Yes Bank

ICICI Bank launches ‘iStartup2.0’ programme for start-ups

● Under the programme startups can seamlessly open an account and get the account number instantly at the time of
incorporation as the Bank has integrated its APIs with the website of the Ministry of Corporate Affairs (MCA).
● The programme further offers convenience to founders and entrepreneurs to apply for an account where the bank sends
an official to startups at a time of their choice to verify the original documents for KYC.
● New businesses (up to 10 years old) including partnerships, private and public limited companies as well as limited
liability partnerships can opt for the Current Account.

Q) Government of India has set up an expert committee under whose chairmanship to assess the relief to bank borrowers?
A.Ravindra Dholakia B.B. Sriram
C.Rajiv Mehrishi D.Sunil Kumar

Q) Who has become the first female Chief Executive Officer of Citigroup?
A.Jane Fraser B.Abigail Johnson
C.Mary Barra D.Ana Botin

Q) Which Financial Institution has singed a pact with Suguna Foods for a USD 15-million debt financing?
A.World Bank B.New Development Bank
C.Asian Development Bank D.Bank of America

ADB, Suguna Foods sign USD 15 mn financing deal

● The ADB has signed a pact for a USD 15-million debt financing through the subscription of non-convertible
debentures for Suguna Foods, to help sustain poultry farming operations, rural livelihoods and food security in India
during the COVID-19 pandemic.
● Suguna, one of India''s largest poultry broiler enterprises, has been significantly affected by supply disruptions caused
by the nationwide lockdown to contain COVID-19.
● This has resulted in losses and tight liquidity conditions for the company, which employs 7,700 employees and
partners. It also supports more than 40,000 contract broiler farmers, including many women, and 2,00,000 corn and
soybean farmers.

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Report on Fraud & Risk Management in Digital Payments
● Data Security Council of India (DSCI) and PayPal India released a study report on Fraud & Risk Management in
Digital Payments.
● The report attempts to discuss the sophisticated online payment fraud mechanisms, threats in the payment
ecosystem, incorporating better fraud prevention strategies, role of upcoming technologies, and recommendations for
various stakeholders involved in the payment ecosystem.

Types of Frauds
● Buyer side frauds – fraudulent claims, chargebacks, fake buyer accounts, promotion/coupon abuse, etc.
● Merchant side frauds – selling counterfeit, non-fulfilment, etc.
● Cyber security frauds – account takeover, identity theft, card detail theft, triangulation fraud, etc.

Key Findings
● The e-commerce market in India is expected to grow to $200 billion by 2026 from $50 billion in 2018.
● UPI transactions in India have crossed 149 crore in volume and $41 billion in transaction value, in July 2020.
● RBI predicts the number of digital transactions to increase from ₹2,069 crore in December 2018 to ₹8,707 crore by
December, 2021.
● The Internet user base is expected to grow to 835 million by 2023 from 560 million in 2018.
● As of March 31, 2019, 925 million debit and 47 million credit cards have been issued in India, second only to China.
● As a result of the above momentum, the growth of online shoppers is 73% in tier-I cities whereas a staggering 400% in
tier-II and tier-III cities.

Q) Which bank is planning to launch a loan product named “SAFAL” for organic cotton growers?
A.State Bank of India B.Punjab National Bank
C.Bank of Baroda D.Bank of India

SBI planning to launch loan product 'SAFAL' for organic cotton growers
● SAFAL - Safe and Fast Agriculture Loan.
● The bank is using Artificial Intelligence (AI) and Machine Learning (ML) in a big way for generating business.
● Any buyer of this cotton across the world can check whether the farmer actually is growing the organic cotton.

Mastercard launches Central Bank Digital Currency testing platform

● Mastercard has launched “Central Bank Digital Currencies” (CBDCs), a Virtual Testing Environment for Central
Banks to Assess and Explore National Digital Currencies.
● Mastercard has invited Central Banks, Commercial Banks and tech and advisory firms to evaluate the suitability of
CBDCs in a country or region.

Multi-cap mutual fund category modified! SEBI issues new guidelines

● The equity allocation in a mufti-cap mutual fund across companies with varying market capitalization will soon
change.
● SEBI has already issued guidelines regarding categorization and rationalization of Mutual Fund Schemes.
● In order to diversify the underlying investments of Multi-Cap Funds across the large, mid and small-cap companies
and be true to label, SEBI has decided to partially modify the scheme characteristics of Multi-Cap Fund.
● The Minimum investment in equity & equity related instruments – 75% of total assets in the following manner:
● Minimum investment in equity & equity related instruments of large-cap companies – 25% of total assets
● Minimum investment in equity & equity related instruments of mid cap companies – 25% of total assets
● Minimum investment in equity & equity related instruments of small cap companies – 25% of total assets
● All the existing Multi Cap Funds shall ensure compliance with the above provisions within one month from the date of
publishing the next list of stocks by AMFI, i.e. January 2021.
● As per the earlier categorisation, in a Multi-Cap Fund, the Minimum investment in equity & equity related
instruments is to be 65% of total assets investing across large cap, mid-cap, small-cap stocks. Now, the minimum
allocation in large-mid-small cap companies have been defined.

IBE at gift city IFSCA signs MoU with India Gold Policy Centre at IIM-A
● The International Financial Services Centre Authority (IFSCA) and the India Gold Policy Centre (IGPC) at the Indian
Institute of Management, Ahmedabad (IIM-A), signed a Memorandum of Understanding (MoU) at GIFT City in
Gandhinagar, to provide consultation for the establishment of the International Bullion Exchange (IBE) in India.

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