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Banking Awareness October Set 2
Banking Awareness October Set 2
Gaurav Garg
Q) The Union Cabinet has approved World Bank supported which project of worth 5,718 crore rupees?
A.STARS B.RISE
C.ANIC RISE D.RAISE
Cabinet approves World Bank supported 'STARS' project to boost school education system
● The Union Cabinet has approved World Bank supported Strengthening Teaching-Learning and Results for States
-STARS project.
● The total project cost is 5 thousand 718 crore rupees with the financial support of World Bank amounting to 500
million US dollar.
● STARS project would be implemented as a new Centrally Sponsored Scheme under Department of School Education
and Literacy, Ministry of Education.
● Setting up and support to the National Assessment Centre, PARAKH as an independent and autonomous institution
under Department of School Education and Literacy, MOE.
● The project covers 6 States namely Himachal Pradesh, Rajasthan, Maharashtra, Madhya Pradesh, Kerala and Odisha.
● Besides this project, it is also envisaged to implement a similar ADB funded project in 5 states namely Gujarat, Tamil
Nadu, Uttarakhand, Jharkhand and Assam. All states will partner with one other state for sharing their experiences and
best practices.
Q) Who has been appointed as the Chief Operating Officer (COO) of BharatPe?
A.Sanjiv Mehta B.Kailash Garg
C.Dhruv Bahl D.Akshay Pandit
Q) IKEA along with which bank and Mastercard has launched a Family Credit Card for Indian Customers?
A.HSBC B.Citibank
C.Deutsche Bank D.Standard Chartered
Q) According to International Monetary Fund (IMF), the Indian economy will contract by what percent in 2020?
A.10.3% B.9.5%
C.9.6% D.8.8%
Q) Which Small Finance Bank has partnered with Ashoknagar Co-operative Bank Limited under the bank sponsorship
programme?
A.Jana Small Finance Bank B.Ujjivan Small Finance Bank
C.Janalakshmi Small Finance Bank D.Equitas Small Finance Bank
Q) Who has been appointed as the new Chairman of the Indian Banks' Association (IBA)?
A.Dinesh Kumar Khara B.Rajkiran Rai G
C.Sandeep Bakshi D.Amitabh Chaudhary
■ Indian Banks' Association (IBA) has appointed Union Bank of India's MD and CEO Rajkiran Rai G as the
association's chairman for the term 2020-21.
■ State Bank of India's Chairman Dinesh Kumar Khara has been elected as the deputy chairman of the association.
Q) Stellapps has announced the launch of a fully-automated direct payment which platform for dairy farmers in Rajasthan?
A.tooPay B.mooPay
C.secPay D.famPay
Q) Which bank has signed an MoU with SIDBI and Ministry of Housing and Urban Affairs for payment of subsidy to street
vendors under SVANidhi Scheme?
A.Punjab National Bank B.Bank of Baroda
C.Indian Bank D.Canara Bank
Indian Bank inks MoU with housing ministry, SIDBI for street vendors
● The Centre introduced the Prime Minister Street Vendor's AtmaNirbhar Nidhi (SVANidhi Scheme) to provide loans to
the vendors and hawkers, among others.
Q) Which among the following has launched car and bike insurance products on its platform in association with Bajaj
Allianz General Insurance?
A.BHIM B.Amazon Pay
C.Paytm D.PhonePe
Irdai asks life insurers to launch Saral Jeevan Bima from January 1
● The Insurance Regulatory and Development Authority of India (Irdai) has announced guidelines on standard
individual term life insurance product — Saral Jeevan Bima.
● The minimum sum assured will be Rs 5 lakh and the maximum sum assured would be Rs 25 lakh.
● All life insurance companies will mandatorily have to offer the standard product with effect from January 1, 2021.
● However, insurers have the option of offering sum assured beyond Rs 25 lakh under Saral Jeevan Bima with all other
terms and conditions remaining the same.
● There will be a waiting period of 45 days from the date of commencement of risk.
● However, this policy will cover death due to accident only during the waiting period of 45 days from the date of
commencement of risk.
● Market participants say that this standard product will reduce mis-selling and disputes at the time of claim settlement.
● The minimum entry age for this product is 18 years and maximum entry age if 65 years. The policy term will be
for 5 to 40 years.
Q) Tata Motors has partnered with which Bank for financing of its passenger vehicles?
A.HDFC Bank B.Yes Bank
C.Axis Bank D.ICICI Bank
Tata Motors partners with HDFC Bank for financing of passenger vehicles
● Through the partnership, the company said it has introduced two new schemes -- 'Gradual Step Up Scheme' and
'TML Flexi Drive Scheme'.
● The schemes will be available till the end of November 2020 and can be redeemed on the entire new BS-VI range of
cars and SUVs along with the company's EV range.
● Under the Gradual Step Up scheme, customers can avail EMI options as low as ₹799 per lakh per month, depending
on the product and variant.
● The EMI payments gradually increase over a period of 2 years depending on the payment convenience of the buyer.
● Flexi Drive scheme offers the option to the consumer to choose any three months every year, where s/he can pay a
minimum EMI of ₹789 per lakh per month, depending on the product and variant as per convenience.
Q) Asian Development Bank will provide a loan of 177-million dollar to upgrade 450 kilometres of highways and major
district roads of which state?
A.Bihar B.Jharkhand
C.Chhattisgarh D.Maharashtra
Q) World Bank has sanctioned Rs 3 crore to which state to develop India’s first sand dune parks?
A.Rajasthan B.Goa
C.Haryana D.Kerala
World Bank sanctions Rs 3 crore for Goa to develop India’s first sand dune parks
● World Bank has approved a project proposed by the Goa state biodiversity board that will see India’s first sand dune
parks and interpretation centres developed along select stretches.
● Board member secretary Pradip Sarmokadam said that the Morjim and Galgibaga beaches, known for their
turtle-nesting sites, are among the stretches that will get sand dune parks.
● The idea of parks to preserve sand dunes was first mooted by former NIO scientist and ex-member of the GSBB
Antonio Mascarenhas, who will now act as principal investigator for the project, with Sarmokadam as
co-investigator.
Q) The Securities and Exchange Board of India (Sebi) has formed a market data advisory committee (MDAC) under whose
chairmanship?
A.G. Mahalingam B.Ananta Barua
C. S. K. Mohanty D.Madhabi Puri Buch
Q) Which bank has partnered with IIT-Madras to set up incubation cell for startups called IND Spring Board?
A.Indian Bank B.Canara Bank
C.Punjab National Bank D.State Bank of India
Q) The ‘Delhi Metro- SBI Card’ will enable its users to use it as a smart card with auto-top up facility whenever the balance
of the card goes below how much rupees?
A.Rs 200 B.Rs 150
C.Rs 50 D.Rs 100
Delhi Metro: SBI Card launches smart card with auto top-up facility
● This multipurpose ‘Delhi Metro- SBI Card’ will enable its users to use it as a smart card with auto-top up facility
whenever the balance of the card goes below Rs100.
● The credit card facility will automatically recharge a top up value of ₹200 to the card from the user’s linked card/bank
account.
Q) Mastercard in partnership which financial technology company has announced the expansion of the Digital First Program
in India?
A.Credit Karma B.GreenSky
C.Atlantis D.Chime
Q) The Reserve Bank of India (RBI) has asked the payment operators to shift to interoperable Quick Response (QR) codes
by which date?
A.December 2021 B.March 2022
C.January 2021 D.April 2021
Reserve Bank bars payment system operators from launching new QR codes
● The Reserve Bank of India (RBI) has said the payment operators must shift to interoperable Quick Response (QR)
codes by March 2022.
● "Payment System Operators (PSOs) that use proprietary QR codes shall shift to one or more interoperable QR codes;
the process of migration shall be completed by March 31, 2022”
● A committee led by Professor Deepak Phatak suggested various measures for moving towards interoperable QR Codes
in the next two years.
● The two interoperable QR codes in existence – UPI QR and Bharat QR – shall continue, the committee advised
● QR codes are two-dimensional machine-readable barcodes, which are increasingly used to facilitate mobile payments
at the point-of-sale. QR codes can store a large amount of information.
● In India, QR Code Payment Systems broadly support three different types of QR code payments -- Bharat QR,
UPI QR, and Proprietary QR.
Q) ICICI Bank has closed its business operations in which country recently?
A.Sri Lanka B.Australia
C.Bhutan D.Nepal
Q) Which bank has signed a loan agreement of $1 billion with Japan Bank for International Co-operation (JBIC)?
A.Punjab National Bank B.Bank of Baroda
C.State Bank of India D.Indian Bank
SBI signs $1-bn loan agreement with Japan Bank for International Co-operation
● The loan will provide funds for manufacturers, suppliers and dealers of Japanese automobiles in India. The financing
will assist in Government of India’s 'Make in India' initiative.
● Of the total loan amount, $600 million will be financed by JBIC and $400 million by other participating banks -
SMBC, MUFG Bank, Mizuho Bank, Shizuoka Bank and Bank of Yokohama, SBI said in a release.
● JBIC will provide a guarantee for the portion co-financed by the participating banks.
● The loan is intended to promote smooth flow of funds for the whole range of business operations of Japanese
automobile manufacturers in India.
CSB Bank partners with IIFL Finance for gold loan origination
● Private-sector lender CSB Bank, formerly Catholic Syrian Bank, has entered into a partnership with non-banking
finance company, IIFL Finance (IIFL) for sourcing and managing retail gold loan assets.
● Acting as Business Correspondent (BC) of the bank, IIFL will source new business from markets where CSB Bank
does not have adequate branch network.
Q) Which Payment Platform has introduced digital gold product on its platform for merchants in association with Safegold?
A.Paytm B.Phone Pe
C.BHIM D.Bharat Pe
Canara HSBC OBC Life Insurance launches Invest 4G plan with multiple saving options, protection cover
● Canara HSBC Oriental Bank of Commerce Life Insurance has launched a new Unit Linked insurance plan (Ulip)
titled ‘Invest 4G’.
● It is an individual life insurance savings plan which can be customized as per the goals and changing requirements of
the individual.
● This Unit Linked Individual Life Insurance cum Savings Plan provides a combination of Portfolio Management
Options and flexibilities which gives choice to opt for protection suiting the demand for every individual as well as
provide an opportunity to save for future goals.
● New “Invest4G” offers three options to the individuals: Life Option, Care Option and Century Option.
● Life option ensures financial protection to a family in case of the customer’s unfortunate demise.
● Care Option provides life coverage along with Premium Funding Benefit and Century Option is a whole life option
available for the policyholder till the age of 100 years.