Banking Awareness PYQs

The correct answer is HDFC Bank.

In News

• The Reserve Bank of India (RBI) has lifted the restrictions on HDFC Bank related to corporate advances.

Key Points

• HDFC Bank can now freely issue corporate advances without the earlier imposed restrictions.
• This move is expected to boost the bank’s lending capacity and corporate portfolio.
• The restrictions were originally imposed due to certain non-compliance issues.
• The lifting of restrictions signifies the bank’s compliance with regulatory requirements.

Additional Information

• HDFC Bank
• HDFC Bank is one of the largest private sector banks in India.
• It offers a wide range of banking and financial services to individuals and businesses.
• The bank is known for its strong digital banking capabilities and customer service.
• The lifting of restrictions allows HDFC Bank to expand its corporate lending and enhance its business growth.

The correct answer is NCDEX.

In News

• NCDEX launched India’s first tradeable weather Index.

Key Points

• NCDEX stands for National Commodity & Derivatives Exchange Limited.
• The weather index is designed to help farmers and traders hedge against weather-related risks.
• It covers various weather parameters such as temperature and rainfall.
• The index is expected to play a significant role in the agriculture sector by providing a tool to manage weather risks.

Additional Information

• NCDEX
• The National Commodity & Derivatives Exchange Limited is a leading agricultural commodity exchange in India.
• It was established in 2003 and is headquartered in Mumbai.
• NCDEX offers a wide range of products including futures and options contracts in various agricultural commodities.
• The exchange aims to provide a transparent and efficient platform for trading in agricultural commodities.

The correct answer is PRANA.

In News

• PRANA (Portal for Regulation of Air-pollution in Non-Attainment cities) was launched under the National Clean Air Programme (NCAP) in 2021.

Key Points

• PRANA aims to monitor and manage air quality in India's non-attainment cities, where air quality standards are consistently violated.
• The portal provides data and tools to support the implementation of air quality improvement plans.
• It enables stakeholders to track progress and evaluate the effectiveness of air pollution control measures.
• PRANA integrates efforts across various sectors and agencies to enhance collaboration and ensure better air quality management.

Additional Information

• National Clean Air Programme (NCAP)
• The NCAP is a government initiative aimed at reducing air pollution levels across India.
• It sets targets for reducing PM2.5 and PM10 concentrations by 20-30% by 2024, taking 2017 as the base year.
• The program involves the implementation of comprehensive action plans in identified non-attainment cities.
• The NCAP emphasizes public awareness, capacity building, and institutional strengthening for effective air quality management.

The correct answer is Both a and b.

In News

• In October/November 2023, Thailand and Sri Lanka announced Visa Free travel for Indian citizens.

Key Points

• Both Thailand and Sri Lanka announced visa-free travel for Indian tourists.
• This initiative aims to boost tourism and strengthen bilateral relations with India.
• The visa-free policy is expected to attract a larger number of Indian tourists to these countries.
• It is part of broader efforts to enhance people-to-people connectivity and cultural exchange.

Additional Information

• Visa-Free Travel
• Visa-free travel allows citizens of one country to enter another country without obtaining a visa prior to arrival.
• This policy is typically based on bilateral or multilateral agreements between countries.
• Visa-free travel facilitates easier movement of people, promoting tourism and business travel.
• Countries offering visa-free travel often experience an increase in tourist arrivals and economic benefits from tourism-related activities.

The correct answer is 201-300.

In News

• The AQI range for poor air quality, according to the central pollution board, is 201-300.

Key Points

• Air Quality Index (AQI) is used to communicate how polluted the air currently is or how polluted it is forecast to become.
• The AQI is divided into six categories: Good (0-50), Satisfactory (51-100), Moderately polluted (101-200), Poor (201-300), Very Poor (301-400), and Severe (401-500).
• Poor air quality affects sensitive groups like children, elderly, and people with respiratory or heart conditions more severely.
• The AQI calculation involves measuring pollutants such as particulate matter (PM10 and PM2.5), nitrogen dioxide, sulfur dioxide, carbon monoxide, and ozone.

Additional Information

• Air Quality Index (AQI)
• The AQI is a tool for reporting daily air quality levels to the public.
• It converts complex air quality data of various pollutants into a single number (index value), nomenclature, and color.
• An AQI value of 201-300 indicates poor air quality, which can cause breathing discomfort to people with lung disease such as asthma, and discomfort to people with heart disease, children, and older adults.
• Maintaining good air quality is crucial for the health and well-being of the public, especially in urban areas where pollution levels can be higher.

The correct answer is INS Imphal.

In News

• The third ship in the Project 15B or Visakhapatnam class of the Indian Navy is INS Imphal.

Key Points

• INS Imphal is the third ship of the Visakhapatnam class (Project 15B).
• It is a stealth guided-missile destroyer built for the Indian Navy.
• The ship was launched on April 20, 2019.
• Project 15B aims to enhance the Navy’s capabilities in warfare and maritime operations.

Additional Information

• Project 15B
• The Project 15B is an initiative by the Indian Navy to build stealth guided-missile destroyers.
• The ships are designed to carry and operate two multiple-role helicopters.
• They are equipped with state-of-the-art weapons and sensors.
• The primary role of these ships is to enhance India's maritime capabilities and defense.

The correct answer is 2025.

In News

• The Reserve Bank of India (RBI) has extended the Payments Infrastructure Development Fund (PIDF) scheme to 2025.

Key Points

• The PIDF scheme aims to increase the deployment of Point of Sale (PoS) infrastructure in tier-3 to tier-6 centers and northeastern states.
• The fund is utilized to subsidize the cost of acquiring PoS infrastructure.
• The scheme was initially launched in January 2021.
• The extension aims to further promote digital payments in less penetrated areas.

Additional Information

• Payments Infrastructure Development Fund (PIDF)
• PIDF was created to encourage the deployment of PoS infrastructure in rural and semi-urban areas.
• It is managed by the RBI and other stakeholders including card networks and banks.
• The fund provides subsidies to acquirers (banks and non-banks) for deploying payment acceptance infrastructure.
• It supports both physical and digital PoS terminals.

The correct answer is 10^-18 seconds.

In News

• The 2023 Nobel Prize in Physics has been awarded for contributions to attosecond science, which involves measurements on the scale of attoseconds (10^-18 seconds).

Key Points

• Attosecond science deals with the study of processes that occur on an attosecond timescale.
• An attosecond is one quintillionth (10^-18) of a second.
• This field has led to breakthroughs in understanding ultrafast phenomena in physics.
• It has applications in areas such as quantum mechanics and material science.

Additional Information

• Attosecond Science
• Attosecond science allows scientists to capture and measure events that happen in a few attoseconds.
• An attosecond is 10^-18 seconds, which is a billionth of a billionth of a second.
• This field has advanced the understanding of electron dynamics in atoms and molecules.
• It has significant implications for the development of new technologies in various scientific fields.

The correct answer is Indonesia.

In News

• Indonesia is an ASEAN country that is also a member of G20.

Key Points

• The G20 is an international forum for governments and central bank governors from 19 countries, the European Union and the African Union..
• Indonesia is the only ASEAN country that is part of the G20.
• The G20 aims to address major issues related to the global economy, such as international financial stability, climate change mitigation, and sustainable development.

Additional Information

• G20
• The G20, or Group of Twenty, is an international forum for the governments and central bank governors from 19 countries and the European Union.
• It was founded in 1999 in response to the financial crises of the late 1990s.
• The G20's primary aim is to ensure global economic stability and sustainable growth.
• The members of the G20 include major economies from both developed and developing countries.

The correct answer is Lentil (Masur).

In News

• The highest increase of Rs 425 for the rabi crop season is for Lentil (Masur).

Key Points

• The government has announced an increase in the Minimum Support Price (MSP) for the rabi crop season.
• The MSP for Lentil (Masur) has seen the highest increase of Rs 425 per quintal.
• This increase is aimed at encouraging farmers to cultivate more Lentil (Masur) and ensuring better returns for their produce.
• The MSP serves as a safety net for farmers to protect them against any sharp fall in the market prices of their crops.

Additional Information

• Minimum Support Price (MSP)
• MSP is a form of market intervention by the Government of India to insure agricultural producers against any sharp fall in farm prices.
• The MSP is announced by the Government based on the recommendations of the Commission for Agricultural Costs and Prices (CACP).
• The objective of MSP is to ensure remunerative prices to the growers for their produce and to encourage higher investment and production.
• The increase in MSP for Lentil (Masur) is expected to boost the production of this pulse, which is an important source of protein.

The correct answer is 1 month.​

Key Points

• One can file a complaint before the Banking Ombudsman
• if the reply is not received from the bank within a period of one month after the bank concerned has received one's complaint
• the bank rejects the complaint
• if the complainant is not satisfied with the reply given by the bank.

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• The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from 1995.
• All Scheduled Commercial Banks (SCB), Regional Rural Banks (RRB) and Scheduled primary co-operative banks are covered under the Banking Ombudsman.

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• Reserve Bank of India may appoint one or more of its officers in the rank of Chief General Manager or General Manager to be known as Banking Ombudsmen.
• The appointment of Banking Ombudsman made for a period not exceeding three years at a time.
• Banking Ombudsman shall receive and consider complaints relating to the deficiencies in banking or other related services.

The correct answer is Indian Oil Corporation.

In News

• Sri Lanka has extended the license of Indian Oil Corporation for 20 years in October 2023.

Key Points

• Indian Oil Corporation's license extension allows it to continue operations in Sri Lanka for the next 20 years.
• This move strengthens the bilateral energy cooperation between India and Sri Lanka.
• Indian Oil Corporation is a significant player in the Sri Lankan oil and gas sector.
• The extension ensures continued supply and distribution of petroleum products in Sri Lanka.

Additional Information

• Indian Oil Corporation
• Indian Oil Corporation (IOC) is India’s largest commercial enterprise and a leading oil company.
• IOC has a strong presence in Sri Lanka through its subsidiary, Lanka IOC.
• The company is involved in refining, transporting, and marketing petroleum products in Sri Lanka.
• The license extension reflects the strategic importance of Indian Oil Corporation’s operations in the region.

The correct answer is Non-compliance with certain RBI directives.

In News

• The Reserve Bank of India (RBI) has imposed a penalty of Rs 12.19 crore on ICICI Bank for non-compliance with certain RBI directives.

Key Points

• The penalty was imposed for deficiencies in regulatory compliance.
• ICICI Bank failed to adhere to certain provisions of the RBI’s directives.
• The non-compliance included issues related to fraud classification and reporting.
• This action is part of RBI's ongoing efforts to ensure financial stability and regulatory discipline in the banking sector.

Additional Information

• ICICI Bank
• ICICI Bank is one of the leading private sector banks in India.
• It offers a wide range of banking and financial services to individuals and businesses.
• The bank has a strong presence in both domestic and international markets.
• ICICI Bank is committed to maintaining high standards of compliance and regulatory adherence.

The correct answer is Red and Orange.

In News

• The two balls in the Mastercard logo are red and orange.

Key Points

• The Mastercard logo consists of two interlocking circles, one red and one orange.
• The design represents connectivity and the merging of interests between the company and its customers.
• The logo is a globally recognized symbol of the Mastercard brand.
• The red and orange colors convey a sense of energy, innovation, and trust.

Additional Information

• Mastercard
• Mastercard is a global payments technology company that connects consumers, financial institutions, merchants, and businesses worldwide.
• The company is known for its credit, debit, and prepaid cards, which are accepted in millions of locations globally.
• Mastercard's mission is to make transactions safe, simple, and smart for everyone.
• The red and orange circles in its logo symbolize the company's commitment to innovation and customer satisfaction.

The correct answer is seven years.

In News

• The RBI has allowed retail investors to subscribe to Floating Rate Savings Bonds, 2020 (Taxable) through the RBI Retail Direct portal for a period of seven years.

Key Points

• The bonds are issued with a tenure of seven years.
• They offer a floating interest rate which is reset periodically.
• The bonds are taxable and are available for subscription by retail investors.
• This initiative aims to broaden the investment opportunities for retail investors.

Additional Information

• Floating Rate Savings Bonds, 2020 (Taxable)
• These bonds have a floating interest rate which is reset every six months.
• The interest rate is linked to the prevailing National Savings Certificate (NSC) rate.
• The minimum investment amount is Rs. 1,000, and they are available for purchase through various banks and financial institutions.
• These bonds are ideal for investors looking for a safe investment with periodic interest payments.

The correct answer is 1^st.

In News

• India topped the 2023 Global Crypto Adoption Index released by Chainalysis.

Key Points

• India ranked 1^st in the Global Crypto Adoption Index 2023.
• This index measures the adoption of cryptocurrency around the world.
• The ranking is based on factors such as the number of crypto transactions, the value of crypto received, and the number of active crypto users.
• India's position reflects the growing popularity and usage of cryptocurrency in the country.

Additional Information

• Global Crypto Adoption Index
• The Global Crypto Adoption Index is published by Chainalysis, a blockchain data platform.
• It ranks countries based on the level of cryptocurrency adoption.
• The index considers metrics such as transaction volume, peer-to-peer exchange trade volume, and the number of active users.
• India's top rank indicates a significant interest and participation in the crypto market by its citizens.

The correct answer is Rs 1 crore.

In News

• The Reserve Bank of India (RBI) increased the minimum amount for offering Non-Callable Term Deposits (TDs) from Rs 15 lakh to Rs 1 crore.

Key Points

• Non-Callable Term Deposits are fixed deposits that cannot be withdrawn before maturity.
• The RBI has raised the minimum deposit amount for such term deposits to Rs 1 crore.
• This move is aimed at providing more stability to the banking system by reducing the risk of premature withdrawals.
• The decision aligns with the RBI’s efforts to enhance financial stability and deposit safety.

Additional Information

• Non-Callable Term Deposits
• Non-Callable Term Deposits are fixed deposits that do not allow premature withdrawal.
• These deposits generally offer higher interest rates compared to callable deposits.
• They provide greater financial security to banks as they help in managing liquidity better.
• The increase in the minimum amount to Rs 1 crore aims to attract more substantial investments.

The correct answer is Paytm Payments Bank.

In News

• The Reserve Bank of India (RBI) imposed a Rs. 5.4 Crore penalty on Paytm Payments Bank.

Key Points

• The penalty was imposed due to non-compliance with certain provisions of the Reserve Bank of India.
• Paytm Payments Bank is one of the leading payments banks in India.
• It offers a range of financial services including savings accounts, payments, and transfers.
• The bank has been under regulatory scrutiny for various compliance issues.

Additional Information

• Paytm Payments Bank
• Established in 2017, Paytm Payments Bank offers various banking services to customers.
• It operates as a digital bank and provides savings accounts with no minimum balance requirements.
• The bank aims to provide accessible banking services to all sections of society.
• It is a subsidiary of One97 Communications, the parent company of Paytm.

The correct answer is 2023-24.

In News

• India has set a target to achieve 15% ethanol-blended petrol by 2023-24.

Key Points

• India aims to reduce its dependence on crude oil imports by increasing ethanol blending.
• Ethanol is a renewable fuel made from various plant materials collectively known as "biomass".
• The initiative is part of India’s efforts to reduce carbon emissions and combat climate change.
• The target is in line with the National Biofuel Policy of India.

Additional Information

• Ethanol Blending
• Ethanol blending is the process of mixing ethanol with petrol to reduce the consumption of fossil fuels.
• It helps in reducing greenhouse gas emissions and dependence on oil imports.
• The government has taken various measures to increase ethanol production, including incentives and subsidies.
• Ethanol can be produced from sugarcane, corn, and other biomass sources.

The correct answer is the Asian Development Bank.

In News

• ADB and GEF introduce natural capital funds to foster environmental conservation.

Key Points

• The Asian Development Bank (ADB), in partnership with the Global Environment Facility (GEF), has unveiled the inception of the Natural Capital Fund (NCF), a concessional fund.
• It aimed at bolstering projects that bolster food security while simultaneously safeguarding and reviving natural capital in ADB’s developing member countries (DMCs).
• The announcement took place during the Asia-Pacific Natural Capital Forum.
• GEF stands as a robust partner in driving the development and expansion of natural capital applications and innovations not only in Asia and the Pacific but also on a global scale.
• Asian Development Bank
• President - Masatsugu Asakawa
• HQ - Manila, Philippines
• Founded in - 1966

Additional Information

• United Nations Development Programme
• ​Founded in - 1965
• HQ - New York, US
• President - Achim Steiner
• World Bank
• ​Founded in - 1944
• HQ - New Hampshire, US
• CEO - Ajay Banga​
• International Monetary Fund
• ​Founded in - 1944
• HQ - Washington DC, US
• CEO - Kristaline Georgieva
• Asian Infrastructure Investment Bank​
• ​Founded in - 2016
• HQ - Beijing, China
• President - Jin Liqun