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Banking Awareness Weekly Dose

1) The Finance Ministry on 7 February 2015 announced that it will soon provide capital infusion worth Rs. 6,990 crore to nine public sector banks. This infusion will be made from the Rs. 11,200-crore provided for in this year’s budget for capitalisation of banks. Which bank would get highest capital infusion? – State Bank of India (SBI)

2) The Reserve Bank of India on 3 February 2015 constituted a committee to evaluate applications received for the proposed small finance banks. Who is heading this committee? – Usha Thorat, former Deputy Governor of RBI

3) The Reserve Bank of India on 3 February 2015 constituted a committee to evaluate applications received for payments banks. Who is heading this committee? – Dr. Nachiket Mor, Director, Central Board, RBI

4) Finance Ministry released latest data for the Pradhan Mantri Jan Dhan Yojana (PMJDY) on 11 February 2015. According to it, a little more than 127 million new bank accounts have been opened since launch of the scheme on 28 August 2014. What is an important achievement associated with this figure? – The number of people added to the country’s banking system in the past five months is higher than that in the period from 2001 to 2011

5) The RBI on 2 February 2015 directed banks to prominently display the name of unclaimed bank account holders on the websites and provide them with a “Find” option to locate the information easily. What are the present provisions for such unclaimed and inoperative bank accounts? – Banks are required to pay back the amounts laying in inoperative accounts for ten years or more, along with interest

6) Which private bank on 10 February 2015 launched first-of-its-kind digital banking service called “Pockets”, which enables users to instantly send money to any e-mail id, mobile number, friends on Facebook and bank account? – ICICI Bank

7) The largest share sale by a private sector entity and the second largest fund-raising by selling shares in the secondary market in India took place on 5 February 2015 when a leading private bank raised Rs. 9,880 crore. Which bank is this? – HDFC Bank

8) State Bank of India (SBI)’s net profit for the October to December quarter for 2014-15 stood at Rs. 2,910 crore as announced by the bank on 13 February 2015. These results were cheered by the stock and financial markets of the country. Why? – SBI’s bad loans rose only slightly and its asset quality made an improvement

9) Union Govt. on 9 February 2015 came up with a new forecast of annual economic growth that makes India the fastest growing major economy in the world. This became possible as the system of measuring economic activities was changed recently. What is the new growth forecast for year ending 2014-15 according to this? – 7.4%

10) Which country became the world’s top FDI destination during 2014 and thus replaced the United States from top place as disclosed by a latest report by United Nations Conference of Trade and Development (UNCTAD)? – China

banking awareness weekly dose

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