Banking Awareness PYQs

The correct answer is CCIL.

In News

• Securities and Exchange Board of India

Key Points

• Securities and Exchange Board of India is an autonomous organization that works under the overall administrative supervision of the Union Finance Ministry and is accountable to the Parliament.
• The Securities and Exchange Board of India owned by the Government of India was established on 12^th April 1992 under the Securities and Exchange Board of India Act, 1992 to protect the interests of the investors in securities along with promoting and regulating the securities market.
• It is empowered to frame rules, regulations, guidelines direction, etc. in respect of both primary and secondary securities markets.
• The Securities and Exchange Board of India (SEBI) regulates several entities, including:
• Merchant Bankers
• NSDL
• CRISIL
• Stockbrokers
• Bankers to issues
• Debenture trustees
• Portfolio managers
• CCIL is regulated by the RBI.

The correct answer is ₹1 lakh.

In News

• Ministry of Education issues guidelines for coaching centres; prohibits intake of students below 16 years.

In News

• Coaching institutes across India have welcomed the latest guidelines issued by the Ministry of Education to regulate private coaching centres.
• The Centre has also suggested that coaching centres be penalised up to Rs 1 lakh or their registration be cancelled for charging exorbitant fees that cause undue stress, leading students to commit suicide, or for other malpractices.
• To ensure proper monitoring of the coaching institutes, the government has proposed registration of new and existing centres within three months of the guidelines coming into effect.
• Certain regulations may pose challenges for both coaching centres and students.
• The state government will be responsible for monitoring the activities of the coaching centre and scrutinising the registration eligibility and activities of the coaching centre.

Additional Information

• Ministry of Education
• It is a ministry of the Government of India, responsible for the implementation of the National Policy on Education.
• Current Minister - Dharmendra Pradhan

The correct answer is Both Zepto and InCred Finance.

In News

• Only two unicorn companies were created in 2023 compared to 21 in 2022.

Key Points

• Out of the total number of unicorns, 46 unicorns with a total valuation of $ 102.30 Bn were born in 2021 and 22 unicorns with a total valuation of $ 29.20 Bn were born in 2022.
• Mumbai-based InCred Holdings, the holding company of InCred Financial Services, has raised Rs 500 crore in its latest round of Series D funding.
• The latest funding round values the company at nearly $1.05 billion.
• InCred Finance is the second to become a unicorn this year, following Zepto's entry into the $1-billion club in August.
• InCred Finance plans to deploy the capital across business verticals such as consumer loans, student loans, and MSME lending.
• In 2023, Zepto became India's first unicorn after raising $200 million in a Series E round of funding.

Additional Information

• Zepto 
• It is an online grocery company offering doorstep grocery delivery.
• HQ - Mumbai
• InCred Finance
• It is a leading non-banking financial company (NBFC) in India and is dedicated to providing innovative and customer-centric financial solutions.
• Krutrim
• Krutrim is the AI startup founded by serial entrepreneur Bhavish Aggarwal$

The correct answer is four.

Key Points

• The Central Board of Directors of the Reserve Bank of India is appointed for a term of four years.
• The overall direction of the RBI lies with the 21-member central board of directors, composed of:
• The governor,
• Four deputy governors,
• Two finance ministry representatives,
• Ten government-nominated directors,
• Four directors who represent local boards for Mumbai, Kolkata, Chennai, and Delhi.
• The Government of India appoints the directors for a four-year term.
• The Central Board of Directors of the RBI recommended aligning the accounting year of RBI with the financial year of the government (April-March), from 2020-21.
• The Reserve Bank's affairs are governed by a central board of directors.
• The board is appointed by the Government of India in keeping with the **Reserve Bank of India Act.**​

Additional Information

• RBI (Reserve Bank of India):
• The Reserve Bank of India was established on April 1, 1935, in accordance with the provisions of the Reserve Bank of India Act, 1934.
• This central banking institution was established based on the suggestions of the “Royal Commission on Indian Currency & Finance” in 1926.
• The Reserve Bank of India (RBI) is India's central bank and regulatory body.
• It is responsible for the issue and supply of the Indian rupee and the regulation of the Indian banking system.
• It also manages the country's main payment systems and works to promote its economic development.
• Governor: Shaktikanta Das
• Headquarters: Mumbai, Maharashtra

The correct answer is HSBC Holdings plc.

In News

• HSBC ranked first for India offshore loans in 2023 helped by Reliance deals.

Key Points

• HSBC Holdings Plc ranked first among arrangers for Indian offshore loans last year, toppling Japanese lenders from the top spot they’d held since 2020.
• Data compiled by Bloomberg show the British bank was the bookrunner on roughly $4 billion of US-currency transactions in 2023.
• Borrowing by billionaire Mukesh Ambani’s Reliance Group contributed to HSBC’s business. Reliance took out a total of $6.4 billion last year via multiple banks.
• As one of the world’s fastest-growing major economies with an urgent need for infrastructure spending, India attracted international debt investors.
• HSBC won business from state-backed banks, including a $1 billion term loan facility from the State Bank of India.
• HSBC Holdings plc
• ​It is a multinational financial services holding company.

Additional Information

• Muthoot Finance
• It is an Indian financial corporation and the largest gold loan NBFC in the country.
• HQ - Kochi, Kerala
• Bajaj Finance
• It is an Indian non-banking financial company.
• HQ - Pune
• Mahindra & Mahindra Financial Services
• ​It is an Indian rural non-banking financial company.
• HQ - Mumbai$.

The correct answer is All A, B & C.

In News

• RBI releases a list of 15 NBFCs in ‘Upper Layer’.

Key Points

• In the year 2023-24, RBI released the names of 15 NBFCs that fall under the Upper Layers (UL)/NBFC-UL of the SBR.
• NBFC-BL (Base Layer): It primarily consists of non-deposit-taking NBFCs with assets below Rs 1000 crore.
• NBFC-ML (Middle Layer): It comprises all deposit-taking NBFCs and non-deposit-taking NBFCs with assets exceeding Rs1000 crore.
• NBFC-UL (Upper Layer): The upper layer includes NBFCs specifically identified by the RBI as warranting enhanced regulatory requirements based on a set of parameters and scoring methodology.
• The top 10 eligible in terms of asset size will always reside in the upper layer, regardless of other factors.
• NBFC-TL (Top Layer): NBFC-UL will be moved to Top Layer if RBI recognizes a substantial increase in the potential systemic risk.
• TMF Business Services Limited, formerly Tata Motors Finance Limited, qualifies as an NBFC-UL based on scoring methodology.

Additional Information

• RBI 
• Established in - 1935
• HQ - Mumbai
• Governor- Shaktikanta Das

The correct answer is Table Tennis.

The correct answer is HDFC Bank.

In News

• HDFC seeks a Singapore bank licence to open its 1^st branch in the country.

Key Points

• HDFC Bank Ltd, India’s biggest private sector lender, is seeking to open its first branch in Singapore, signalling its overseas ambitions after sewing up a landmark merger with mortgage financier Housing Development Finance Corp. last year.
• The bank has applied to the Monetary Authority of Singapore for a banking licence and is awaiting approval, according to sources familiar with the matter.
• It is not clear what kind of banking licence HDFC Bank is seeking in Singapore.
• The banking giant is seeking a bigger presence abroad to tap the Indian diaspora for savings and term deposits, as well as to cross-sell more products, including mortgages.
• At home, HDFC has been focusing on deepening its reach in the world’s most populous country through loans to retail customers.
• Singapore, with a population of almost 6 million people, houses a large Indian diaspora.

Additional Information

• HDFC Bank
• ​Established in - 1994
• HQ - Mumbai
• CEO - Sashidhar Jagdishan

The correct answer is All of the above.

In News

• LIC, GIC Re, and New India remain Domestic Systemically Important Insurers, as announced by IRDAI.

Key Points

• Regulator Irdai announced Life Insurance Corporation of India, General Insurance Corporation of India, and New India Assurance Co. continue to remain as Domestic Systemically Important Insurers (D-SIIs) and are perceived as "too big or too important to fail".
• Domestic Systemically Important Insurers (D-SIIs) refer to insurers of such size, market importance, and domestic and global interconnectedness, whose distress or failure would cause a significant dislocation in the domestic financial system.
• "LIC, GIC Re., and New India continue to be identified as Domestic Systemically Important Insurers (D-SIIs), as in the 2021-22 list of D-SIIs.

Additional Information

• LIC
• Established in 1956
• HQ - Mumbai
• CEO - Siddhartha Mohanty
• GIC
• Established in 1972
• HQ - Mumbai
• CMD - Ramaswamy Narayanan
• New India Assurance Co
• ​Established in - 1919
• HQ - Mumbai
• CEO - Pardeep Kharoud

The correct answer is Indian Overseas Bank

In News

• Indian Renewable Energy Development Agency (IREDA) and Indian Overseas Bank join hands in co-lending for Renewable Energy Projects.

Key Points

• Indian Renewable Energy Development Agency Ltd. (IREDA) has signed a MoU with the Indian Overseas Bank, setting the stage for collaborative efforts in co-lending and loan syndication for a diverse spectrum of Renewable Energy projects across the nation
• The MoU includes co-lending and co-origination support provisions for all Renewable Energy projects.
• The partnership aims to streamline loan syndication and underwriting processes and manage Trust and Retention Accounts (TRA) for IREDA borrowers.
• The partnership also works towards fixed interest rates over a 3–4-year period for IREDA borrowings.
• Indian Overseas Bank
• ​Established in 1937
• HQ - Chennai
• CEO - Ajay Kumar Srivastava

Additional Information 

• State Bank of India
• ​Established in - 1955
• HQ - Mumbai
• Chairman - Dinesh Kumar Khara
• Bank of India
• Established in - 1906
• HQ - Mumbai
• CEO - Rajneesh Karnatak
• Union Bank of India
• ​Established in - 1919
• HQ - Mumbai
• CEO - A. Manimekhalai​
• Bank of Baroda
• Established in - 1908
• HQ - Vadodara
• CEO - Devdutt Chand

The correct answer is Sportsperson.

In News

• States’ Startup Ranking 2022.

Key Points

• The Startup India initiative of the Government of India envisages building a robust Startup ecosystem in the country for nurturing innovations and providing opportunities to budding entrepreneurs.
• The Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry has been conducting the States Start-up Ranking Exercise since 2018.
• The exercise plays a crucial role in easing the business environment for start-ups in the country.
• States and Union Territories are classified into 5 Categories:
• Best Performers
• Top Performers
• Leaders
• Aspiring Leaders
• Emerging Start-up Ecosystems

Additional Information

• Karnataka, Kerala, and Tamil Nadu lead the State Startup Ranking 2022 as Best Performers, the top category in the ranking.
• The ranking was released by the Union Ministry of Commerce and Industry.
• Gujarat has retained its position as the Best Performer start-up state in the country.

• The Government of India has set up a 21 member high-level technical committee in order to guide the people in preventive and control activities of pandemic COVID-19.
• V K Paul would head this high-level committee. He is a NITI Aayog member.
• This committee would be co-chaired by  Preeti Sudan, Union Health Secretary and  Balram Bhargava, Director General Indian Council of Medical Research.
• Randeep Guleria, Sujeet Singh, Sanjay Pujari, Rajan Khobragade are the members of this committee.

The correct answer is Union Bank of India.

In News

• DLabs At ISB Launches `Build For Billions’ Jointly With RBI Innovation Hub, UBI.

Key Points

• DLabs at the Indian School of Business (ISB) has announced the initiation of ‘Build for Billions’, a startup accelerator program centred around financial inclusion for the informal economy.
• This innovative program has been launched in partnership with the Reserve Bank Innovation Hub (RBIH) and Union Bank of India.
• The primary theme of ‘Build for Billions’ is to foster financial inclusion within the informal economy.
• It aims to address livelihood issues for gig workers, migrant workers, domestic workers, street vendors, carpenters, plumbers, electricians, and construction laborers who represent the informal economy.

Additional Information

• Union Bank of India
• ​Established in - 1919
• HQ - Mumbai
• CEO - A. Manimekhalai
• RBI Innovation Hub
• ​It has been set up as a Section 8 company under the Companies Act, 2013 with an initial capital contribution of Rs 100 crore.
• It is a wholly-owned subsidiary of the RBI.
• RBIH aims to create an ecosystem that focuses on promoting access to financial services and products for the low-income population in the country.

savings as well as current account should be treated as dormant if there are no transactions in the account for over a period of two years.

The correct answer is 6.

Key Points

• NASA has conducted 6 manned missions on the moon.
• NASA did a total of six moon landings under its Apollo programme that ran from 1961 to 1972.
• Apollo 11 (Neil Armstrong and Edwin Buzz Aldrin)
• Apollo 12 (Charles Conrad and Alan Bean)
• Apollo 14 (Aland Shepard and Edgar Mitchell)
• Apollo 15 (David Scott and James Irvin)
• Apollo 16 (John Young and Charles Duke)
• Apollo 17 (Eugene Cernan and Harrison Schmitt)

The correct answer is 'Argentina'.

Key Points

• Ministry of Mines, Government of India has achieved a significant milestone with the signing of an agreement between Khanij Bidesh India Limited (KABIL) and the state-owned enterprise of Catamarca province of Argentina CATAMARCA MINERA Y ENERGÉTICA SOCIEDAD DEL ESTADO (CAMYEN SE) at Catamarca, Argentina on 15^th January, 2024.

The correct answer is All of the Above.

Key Points

• The Reserve Bank of India has allowed participants on the Trade Receivables Discounting System (TReDS) platform to improve access to funds for micro, small, and medium enterprises (MSMEs).
• In June 2023, insurance companies were permitted as the “fourth participant” in TReDS, besides MSME sellers, buyers, and financiers.
• The insurance facility is likely to encourage discounting of payables of buyers irrespective of their credit ratings.

Additional Information

• TReDS is an online platform set up to facilitate MSMEs to unlock working capital by converting their receivables into cash.
• TReDS gives capital access to credit-starved small businesses in India.

The correct answer is the Ministry of Electronics & Information Technology (MeitY).

In News

• Ministry of Electronics & Information Technology (MeitY) Secretary Shri S Krishnan launched ERNET India’s newly developed integrated web portal for educational institutes in the country, at its head office.
• The portal will offer domain registration, DNS, and value-added services viz.  Website as a Service (WaaS) and Learning Management as a Service (LMaaS).
• The users can select from the variety of available templates for schools, colleges, and universities as per their requirements and create their website and Learning Management System.
• The user can publish the website and LMS by customizing the template with a single click.
• This web portal has been developed utilizing open-source software and emerging technologies such as AI/ML.
• The ERNET India is a not-for-profit scientific society under MeitY.
• Ministry of Electronics & Information Technology (MeitY)
• ​It is an executive agency of the Union Government of the Republic of India.

Additional Information

• Ministry of Communications and Information Technology
• ​It is an Indian government ministry.
• It was bifurcated into the Ministry of Communications and the Ministry of Electronics and Information Technology in July 2016.
• Ministry of Science and Technology
• ​It is the Indian government ministry charged with the formulation and administration of the rules regulations and laws relating to science and technology in India.
• Current Minister - Jitendra Singh
• Ministry of Education
• ​It is a ministry of the Government of India, responsible for the implementation of the National Policy on education.

The correct answer is Girish Chandra Murmu.

Key Points

• At an international summit meeting, a Sherpa is a personal envoy of the head of a member nation.
• G20 Sherpas:
• Shaktikanta Das (2018)
• Suresh Prabhu (2019)
• Piyush Goel (2021)
• Amitabh Kant (2023)

The correct answer is 5000.

Key Points

• State Bank of India (SBI) raised 5000 crore through its second Basel III compliant Additional Tier 1 bond issuance for the current financial year at a coupon rate of 8.34%. 
• The tenor of these bonds is perpetual with a call option after 10 years and every anniversary thereafter.
• The Bonds were rated AA+ with a stable outlook by CRISIL and ICRA.