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- Question
As per which committee's recommendations, the RBI has sold its entire stake in NHB & Nabard to Union Government?
Options- A. Narasimham Committee-II
- B. M P Bezbarauah Committee
- C. N K Singh Committee
- D. Usha Thorat Committee
- Correct Answer
- Narasimham Committee-II
ExplanationThe Reserve Bank of India (RBI) has divested its entire stake in National Housing Bank (NHB) and the National Bank for Agriculture and Rural Development (Nabard) for Rs 1,450 crore and Rs 20 crore, respectively. The move is part of ending the cross-holding in regulatory institutions and follows the recommendation of second Narasimham committee report of October 2001 and the RBI's own discussion paper on the same entitled 'Harmonizing the role and operations of development financial institutions and banks. The current change in the capital structure of both these financial institutions was brought in by the government through amendments to the Nabard Act of 1981 and the NHB Act of 1987 which were notified on January 19, 2018 and March 29, 2018, respectively. With this, the Government of India (GoI) now holds 100% stake in both these financial institutions. - 1. Name the Financial service company, which has planned to invest $1 billion in India.
Options- A. Mastercard
- B. American Express
- C. Maestro
- D. Citibank Discuss
- 2. Name of the Bank which becomes first lender to charge for UPI use?
Options- A. Yes Bank
- B. Axis Bank
- C. ICICI Bank
- D. Kotak Mahindra Bank Discuss
- 3. The Reserve Bank sets the average base rates of NBFC-MFI. It is;
Options- A. 8.15%
- B. 9.21%
- C. 8.81%
- D. 9.52% Discuss
- 4. Which international development finance institution, has predicted 1.7 trillion dollars is required to build disaster-resilient infrastructure in Asia?
Options- A. Asian Development Bank
- B. International Monetary Fund
- C. World Bank
- D. New Development Bank Discuss
- 5. How much did UN owe India for peacekeeping operations?
Options- A. USD 28 million
- B. USD 25 million
- C. USD 32 million
- D. USD 38 million Discuss
- 6. Which bank Card raised Rs. 700 crore from banks and financial institutions to grow above industry average?
Options- A. SBI Card
- B. Kotak Mahindra Bank Card
- C. Yes Bank Card
- D. Dena Bank Card Discuss
- 7. Who proposed strict rules on opening and running of current accounts of corporate borrowers in order to tackle fund diversion?
Options- A. Reserve Bank of India
- B. Dena Bank
- C. Canara Bank
- D. State Bank of India Discuss
- 8. Which bank plans to to raise up to Rs.50,000 crore by issuing bonds?
Options- A. Axis Bank
- B. ICICI Bank
- C. Kotak Mahindra Bank
- D. HDFC Bank Discuss
- 9. Name of the financial company that launched a unique proposition to pay electricity bill on EMIs.
Options- A. SBI Capital Markets
- B. Bajaj Finserv
- C. Birla Global Finance Limited
- D. LIC Finance Limited Discuss
- 10. Rajesh Yaduvanshi is appointed as Executive Director of this bank.
Options- A. Bank of Baroda
- B. Axis Bank
- C. Punjab National Bank
- D. IDBI Bank Discuss
Banking problems
Search Results
Correct Answer: Mastercard
Explanation:
Global card payments brand Mastercard has announced its plan of investing $1 billion in India operations over the period of next 5 years. About $350 million of the total amount would be invested in setting up a local payments processing center as per the Reserve Bank of India's mandate to store all payments data locally. The rest of the investment will go towards existing services and expanding capacity among others. This is the first such processing center of the company outside of the US and could provide service markets such as Southeast Asia and Asia-Pacific.
Correct Answer: Kotak Mahindra Bank
Explanation:
Kotak Mahindra Bank (Kotak) stated that it will charge customers for UPI transactions starting 1st of May 2019. For each Kotak Bank account, the first 30 UPI fund transfers will be free after which a charge will be levied on all fund transfers from the bank account. This will be applicable across all platforms, including Paytm, PhonePe, Google Pay or Truecaller Pay among others. The bank will charge Rs 2.50 per transaction for an amount value below or equal to Rs 1,000, and Rs 5 per transaction will be levied for a payment value above Rs 1,000.
Correct Answer: 9.21%
Explanation:
The Reserve Bank set the average base rate to be charged from borrowers by non-banking financial companies (NBFCs) and micro-finance institutions (MFIs) at 9.21% for the first quarter of the next fiscal (April-June). The regulator in February 2014 had issued directions to NBFC-MFIs regarding pricing of credit.
Correct Answer: Asian Development Bank
Explanation:
According to a recent Asian Development Bank's (ADB) report titled 'Asian Development Outlook 2019: Strengthening Disaster Resilience', around 26 trillion dollars from 2016 to 2030, or 1.7 trillion dollars investment needed per year to build disaster-resilient infrastructure in Asia. Asian Development Outlook 2019.This is because Developing economies across Asia are among the most vulnerable to natural disasters and have suffered damages of around 644 billion dollars since 2000.Of these, approx 507 billion dollars wasted for weather-related hazards while the remaining 137 billion dollars wasted for geophysical hazards.
Correct Answer: USD 38 million
Explanation:
United Nations (UN) owes India USD 38 million, the highest it has to pay to any country, for the peacekeeping operations as of March 2019. In a report on improving the financial situation of the world body, as of March 31, 2019, the total amount payable to troop- and police-contributing countries with respect to active peacekeeping missions was USD 265 million. Of this, the UN owes USD 38 million to India, followed by Rwanda (USD 31 million), Pakistan (USD 28 million), Bangladesh (USD 25 million) and Nepal (USD 23 million). The arrears to troop- and police-contributing (TCCs/PCCs) countries could increase to USD 588 million by June 2019 "in the worst-case scenario".
Correct Answer: SBI Card
Explanation:
SBI Card raised Rs. 700 crore from various financial institutions including its parent SBI (State Bank of India) in the 2nd half of FY19 (Financial Year) to grow above the industry average. SBI Cards and Payment Services Pvt. Ltd (SBI Card) raised Rs. 100 crore from ICICI Securities Primary Dealership Ltd, Rs. 250 crore from State Bank of India and Rs. 50 crore each from Canara Bank and Axis Bank by issuing NCDs (Non Convertible Debentures) at 9.15% coupon. SBI Card also raised additional Rs. 250 crore from Axis Bank through a coupon of 9.55%. The Rs. 700 crore fundraise is part of SBI Card's plan to raise Rs. 1,500 crore in a few tranches.
Correct Answer: Reserve Bank of India
Explanation:
According to a report by The Economic Times, India's Central Bank, the Reserve Bank of India (RBI) would tighten rules on opening and operating current accounts of corporate borrowers to prevent the diversion of funds. sRBI had notified that the banks with collection accounts will have to transfer funds to the current account and the current accounts could be opened only with the lead bank of a lending association. The rules would be applicable to corporates who have borrowed and used credit facilities of more than Rs 50 crore from the banking system.
Correct Answer: HDFC Bank
Explanation:
Private lender HDFC Bank said it is planning to raise up to Rs.50,000 crore this fiscal by issuing bonds on private placement basis. It will raise funds by issuing perpetual debt instruments [part of additional tier I capital], tier II capital bonds and long-term bonds [financing of infrastructure and affordable housing] up to a total amount of Rs.50,000 crore in the period of next 12 months through private placement mode. The bank would consider the proposal on April 20.
Correct Answer: Bajaj Finserv
Explanation:
A unique proposition to pay electricity bill on EMIs launched by Bajaj Finserv through its lending arm Bajaj Finance Ltd. through the campaign of #BijliOnEMI. Customers can avail an Insta Credit loan in their Bajaj Finserv Wallet to pay their electricity bills on EMI. Bajaj Finance Ltd. financed the purchase of over 12 lakh air conditioners across our country in the year 2018. Bajaj Finance Ltd launched this campaign and customers buying air conditioners of Rs 20,000 and above will be eligible for Rs 5000 Instant Credit loan and for the air conditioners above Rs 40,000 will receive Rs 7000 Instant Credit loan to their Wallet.
Correct Answer: Punjab National Bank
Explanation:
Punjab National Bank (PNB) appointed Rajesh Kumar Yaduvanshi as the Executive Director of the bank. Rajesh Kumar Yaduvanshi joined PNB as a management trainee in 1985. He is equipped with an experience of 34 years in the banking career and is a certified associate member of Indian Institute of Bankers. In the past, he had worked with Dena Bank in the capacity of the Executive Director. He holds a doctorate in science from Indian Agricultural Research Institute, (IARI) New Delhi.
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