Banking & Financial Awareness 2020 Vol 1

Banking Awareness | Financial Awareness | Banking Awareness 2020 | Financial Awareness 2020 | Nirdeshak Banking | Banking Current Affairs |

Posted on Jan 19, 2020 07:07 IST in Banking & Financial Awareness.

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1) Who was appointed as the Deputy Governor of the Reserve Bank of India (RBI) by the Union Government on 14 January 2020? - Michael Debabrata Patra (The Union Government on 14 January 2020 appointed Michael Debabrata Patra as the Deputy Governor of the Reserve Bank of India (RBI) for a term of three years. He is currently an Executive Director at the central bank and has a seat on the six-member Monetary Policy Committee (MPC). Patra’s appointment comes six months after former Deputy Governor Viral Acharya's pre-mature resignation. RBI, led by Governor Shaktikanta Das, has three more Deputy Governors - B. P. Kanungo, N. S. Vishwanathan and Mahesh Kumar Jain)

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2) India’s largest commercial bank State Bank of India (SBI) introduced OTP-based ATM transactions for its customers from 1 January 2020. What are the conditions attached to perform this type of transaction? – Only for ATM withdrawals above Rs. 10,000 during 8 pm to 8 am from SBI ATMs (SBI customers will be able to make ATM withdrawal above Rs.10,000 only after an OTP verification during 8 pm to 8 am from 1 January 2020. The OTP-based withdrawal is applicable only to withdrawals from SBI ATMs)

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3) What is the name of the mobile app launched by RBI on 1 January 2020 to help visually-impaired people to identify the denomination of currency notes? – MANI (MANI, which stands for Mobile Aided Note Identifier, is the name of a mobile app developed to help visually-impaired people identify the denomination of currency notes. The app can scan the notes using the phone's camera and give audio output in Hindi and English. It was launched by Reserve Bank of India (RBI) Governor Shaktikanta Das on 1 January 2020. MANI is available on both Google Play and the Apple's App Store)

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4) From 1 January 2020 payments made through RuPay cards and Unified Payments Interface (UPI) will not attract Merchant Discount Rate (MDR). This rebate has been made available on which category of businesses? – Businesses with annual turnover of over Rs. 50 crore (Payments made through homegrown RuPay cards and Unified Payments Interface (UPI) at businesses with annual turnover of over Rs. 50 crore will not attract Merchant Discount Rate (MDR) from 1 January 2020. Such businesses have been mandated to offer these modes of payment to customers. The discount rate is paid by the merchant to banks, card payment networks, and other financial intermediaries)

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5) During December 2019, the UPI transactions crossed which milestone monthly figure for the first time ever? – Rs. 2 lakh crore (The value of transactions made through Unified Payments Interface (UPI) doubled over last year to breach the Rs. 2 lakh-crore mark in December 2019, the first time since its inception. According to data released by the National Payments Corporation of India Ltd. (NPCI) on 2 January 2020, the UPI-platform recorded more than 131 crore transactions during the month. NPCI is the manager and operator of UPI platform)

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6) During January 2020 the RBI directed which Bengaluru-based cooperative bank to stop doing business with immediate effect? - Sri Guru Raghavendra Sahakara Bank (The Reserve Bank of India (RBI) issued a notice asking Sri Guru Raghavendra Sahakara Bank, a co-operative in Bengaluru, to stop doing business with immediate effect, for alleged irregularities. The RBI, however, allowed the bank's savings and current account customers and depositors to withdraw cash up to Rs. 35,000 only till further notice. The bank has been in operation since 1999)

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7) What is the estimated GDP growth rate for India for year 2019-20, as was announced by the Central Statistical Office (CSO) in its advance estimates on 7 January 2020? – 5% (CSO has estimated that India’s GDP growth rate for 2019-20 will be 5%. This figure is dramatically lower than growth rate for 2018-19 (6.8%). This estimate is based on the growth rate recorded in the first two quarters and is also in line with RBI’s estimates. The main reason given for slow growth rate is deceleration in the manufacturing sector)

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8) Bharat Bond ETF, that made its debut on stock exchanges on 2 January 2020, is a corporate bond ETF issued by which mutual fund entity? - Edelweiss Mutual Fund (Bharat Bond ETF is the first-ever corporate bond ETF (exchange traded fund) that has been issued by Edelweiss Mutual Fund. Edelweiss AMC raised Rs 12,395 crore through this corporate bond issue that was made available for subscription from 12 to 20 December 2019. This ETF will invest only in AAA-rated bonds of public sector companies for two fixed-maturity periods of three years and 10 years)

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9) National Stock Exchange of India Ltd (NSE) launched The NSE Knowledge Hub, a unique Artificial Intelligence (AI) powered learning eco-system, on 6 January 2020. This Knowledge Hub has been based in which city? – New Delhi (The NSE Knowledge Hub has been developed to assist the banking, financial services and insurance (BFSI) sector in enhancing skills for their employees and helping academic institutions in preparing future ready talent skilled for the financial services industry)

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10) Adani Ports is acquiring 75% stake in which privately managed port on the east coast of India, as was disclosed on 3 January 2020? - Krishnapatnam Port (Adani Ports and Special Economic Zone Ltd (APSEZ) will be acquiring a controlling stake of 75% in Krishnapatnam Port Co. Ltd (KPCL) at an enterprise valuation of Rs.13,572 crore. APSEZ is India’s largest private sector port developer, operator and the logistics arm of Gautam Adani’s group. Krishnapatnam Port is situated in the Nellore district of Andhra Pradesh and is the second-largest private sector port in the east, after Mundra in the west)

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Banking Awareness | Financial Awareness | Banking Awareness 2020 | Financial Awareness 2020 | Nirdeshak Banking | Banking Current Affairs |

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