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Banking Awareness Weekly Dose (4th Week) May 2015

1) India’s largest commercial bank SBI on 21 May 2015 signed an MoU with which leading international digital payments company to facilitate cross-border transactions? – PayPal

2) Country’s largest private bank – ICICI Bank on 25 May 2015 launched which new password service for its customers? – Voice Password Service

3) Which private-sector bank on 31 May 2015 announced that it will discontinue issuing slips after cash withdrawals at ATMs and will alert the customer through SMSes? – HDFC Bank

4) The US Department of Justice on 20 May 2015 imposed record $5.7bn fine on 5 banks for rigging foreign exchange markets. Which five banks are involved in this case? – Barclays, Royal Bank of Scotland (RBS), UBS, Citigroup and JP Morgan


5) Bank unions and the Indian Banks’ Association (IBA) on 25 May 2015 signed a wage revision agreement, which will benefit 1 million bank employees, including some from foreign and private banks. How much increase in bank employees’ salary and allowances has been agreed to in this agreement? – 15%

6) Which major European country slipped into deflation recently as disclosed by the government on 19 May 2015? – Britain

7) On 26 May 2015 who was appointed as the head of the newly constituted committee that will give recommendations to recast the model of the so-called public-private-partnership (PPP) model in India? – Vijay Kelkar

8) The State Bank of India (SBI) on 20 May 2015 signed a Memorandum of Understanding (MoU) with which e-commerce entity to develop payment and commerce solutions for customers and small businesses? – Amazon

9) State Bank of India (SBI), on 22 May 2015 reported a better-than-expected 23% increase in quarterly profit for fourth quarter ended March 2015. What was the total net profit during the quarter? – Rs. 3742 crore ($589.11 million)

10) Which Indian stock exchange on 18 May 2015 announced the introduction of the first-of-its-kind Overnight Liquid Fund product which will provide the facility to invest even for a single night in liquid funds? – BSE

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