Banking and Financial Awareness for SBI, IBPS RRB & NABARD Exam 2021
Banking and Financial Awareness for SBI, IBPS RRB & NABARD Exam 2021

Banking and Financial Awareness for Banking Exams 2021

Current Banking Awareness PDF 2021. Important Banking and Financial Awareness Questions for SBI Clerk Mains, IBPS RRB & NABARD Grade-A Exam. If you are preparing for upcoming SBI Clerk Mains, IBPS PO/Clerk, and IBPS RRB Officer Scale-I and Office Assistant, NABARD Grade-A 2021, you will come across a section on Banking Awareness. Here we are providing you “Banking and Financial Awareness Questions” for upcoming Banking and Insurance Exams based on the latest pattern for your daily practice.

Banking and Financial Awareness Questions will help you learn concepts on important topics in Banking Awareness Section. These Banking and Financial Awareness Questions are also important for other banking exams such as IBPS PO, IBPS Clerk, SBI Clerk, IBPS RRB Officer, IBPS RRB Office Assistant, IBPS SO, SBI SO, NABARD Grade-A, RBI Assistant, LIC and other competitive exams.

Banking and Financial Awareness Questions 2021

1. Which bank has tied up with Mumbai Metro to launch ‘One Mumbai Metro Card’ powered by Mastercard, to ensure contactless and cashless travel for Mumbaikars?

  1. IndusInd Bank
  2. HDFC Bank
  3. Axis Bank
  4. Yes Bank
  5. State Bank of India

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Correct Answer – C. Axis Bank

Explanation: Mastercard, Mumbai Metro and Axis Bank announced the launch of ‘One Mumbai Metro Card’, to ensure contactless and cashless travel for Mumbaikars. It is a prepaid, open loop contactless card which can be used as a part of the daily transit journey with just a tap. With this solution, Mastercard has conti nued to contribute in changing the way India commutes and helping the transit eco-system go completely digital. This is a card that can be used for all daily purchases from food, groceries, medicines as well as tickets.

2. Which financial institution has launched new health insurance plan called Arogya Rakshak?

A. SIDBI
B. LIC
C. SEBI
D. IRDAI
E. None of these

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Correct Answer – B. LIC

Explanation:Life Insurance Corporation (LIC) has launched new health insurance plan called ‘Arogya Rakshak’, which is a non-linked, non-participating, regular premium and individual health insurance plan. It will provide fixed health insurance cover against certain specified health risks and provides timely support in case of medical emergencies.

3. Who is the regulator of Asset Reconstruction Companies (ARCs) launched by the government as Bad Bank to clean up bank books?

A. PFRDA
B. RBI
C. SEBI
D. Finance Ministry
E. None of these

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Correct Answer –B. RBI

Explanation: Govt has launched Bad Bank with all the regulatory approvals in place for stressed assets as a measure to clean up bank books.  It was announced by Finance Minister Nirmala Sitharaman in her Budget Speech 2021-22. RBI is the regulator of Asset Reconstruction Companies (ARCs). RBI has already prescribed a regulatory framework for the functioning of ARCs and there are well-laid norms for transfer of stressed assets by banks and non-banking finance companies to ARCs. Identification of non-performing assets by an ARC is an ongoing process, the Minister stated.

4. Which of the following bank has selected Paisalo Digital as its National Corporate Business Correspondent?

A. SBI
B. PNB
C. HDFC Bank
D. Yes Bank
E. None of these

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Correct Answer – A. SBI

Explanation: SBI has selected Paisalo Digital as its National Corporate Business Correspondent in order to boost financial inclusion drive with the help of kiosk-based banking services. Paisalo Digital Limited is systemically important Non-Deposit taking NBFC registered with RBI.

5. International Finance Corporation (IFC), the investment arm of the World Bank Group has provided $250 million loan to which financial company for green housing?

A. LIC Housing Finance
B. HDFC Ltd
C. ICICI Ltd
D. PNB Housing Finance
E. None of these

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Correct Answer – B. HDFC Ltd

Explanation: International Finance Corporation (IFC), the investment arm of the World Bank Group has provided $250 million loan to HDFC Ltd for green housing. Green housing is regarded as a luxury market in the country, but has climate benefits. Green affordable housing can help India on its path to deliver on its commitments under the Paris Agreement, to reduce a third of its carbon emissions by 2030 from 2005 levels. Green and energy-efficient housing can help cut emissions, as residential housing accounts for about 24 percent of the nation’s electricity consumption.

6. Export Import (Exim) Bank of India said it has extended a USD 35.26 million loan for a power transmission project being executed by Kalpataru Power Transmission in _____.

A. Madagascar
B. Senegal
C. Ethiopia
D. Morocco
E. None of these

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Correct Answer – B. Senegal

Explanation: Export Import (Exim) Bank of India said it has extended a USD 35.26 million loan for a power transmission project being executed by Kalpataru Power Transmission in Senegal. The buyer’s credit facility was extended under the National Export Insurance Account (NEIA) scheme, which provides a safe mode of financing option to Indian project exporters backed by cover from NEIA Trust. The bank signed a credit agreement with the Ministry of Economy, Planning and Co-operation of the Republic of Senegal for the purpose of construction and installation of 225 kV overhead transmission line from Tanaff to Ziguinchor (approximate distance 92 km) and bay extensions in Tanaff and Ziguinchor in Senegal.

7. What is the authorized capital of the recently incorporated National Asset Reconstruction Company (NARCL)?

A. 500 crore
B. 400 crore
C. 300 crore
D. 100 crore
E. None of these

  1. Power Grid Corporation of India Limited

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Correct Answer – D. 100 crore

Explanation:The National Asset Reconstruction Company (NARCL) is a legal entity now and has been registered with the Registrar of Companies (RoC) Mumbai.  According to data available with the Ministry of Corporate Affairs (MCA), NARCL was incorporated on July 7 with an authorised capital of Rs 100 crore and paid-up capital of Rs 74.6 crore. The Indian Banks Association (IBA) is likely to approach the Reserve Bank of India (RBI) this week to seek an ARC (asset reconstruction company) licence.  Last month, the IBA had filed an application with the MCA to incorporate NARCL and India Debt Management Company (IDMCL) for managing bad debt in the system. While NARCL is a registered company now, IDMCL is yet to become a legal entity.

8. Which Special Economic Zones (SEZ) of India has been awarded with IGBC Platinum Rating and is the First Green SEZ to achieve IGBC Green Cities Platinum Rating for Existing Cities?

A. Kandla SEZ
B. Cochin SEZ
C. Noida SEZ
D. Madras EPZ SEZ
E. None of these

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Correct Answer – A. Kandla SEZ

Explanation: Kandla SEZ (KASEZ) has been awarded with IGBC Platinum Rating and is the First Green SEZ to achieve IGBC Green Cities Platinum Rating for Existing Cities. KASEZ is the oldest export zone in the country and has become the first green industrial city in India to receive a platinum rating in the industrial cities category. KASEZ has increased to 3.5 lakh trees from 25,000 trees in 2019.  Most of these trees have been planted post 2019, using Miyawaki forestation method. Apart from this, KASEZ also used plastic waste to line the artificial water bodies created inside the area to prevent water seepage and mix with the saline water.

9. According to the International Monetary Fund (IMF) what will be the economic growth of India in the financial year 2021-22 (FY22)?

A. 10 per cent
B. 9.5 per cent
C. 9.0 per cent
D. 8.5 per cent
E. None of these

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Correct Answer –B. 9.5 per cent

Explanation: The International Monetary Fund (IMF) has sharply cut India’s economic growth projection by 300 basis points, from 12.5 per cent to 9.5 per cent for the financial year 2021-22 (FY22). The downward revision in the GDP growth rate is due to a lack of access to vaccines and the possibility of renewed waves of coronavirus. For FY23 (2022-23), IMF has estimated the gross domestic product (GDP) of India at 8.5 per cent, which is 160 basis points higher than its earlier projection of 6.9 per cent. In the case of the global economy, IMF has projected 6.0 per cent growth in 2021 and 4.9 per cent in 2022.

10. According to data released by the Reserve Bank of India (RBI) what percent of growth in digital payments in India have been recorded during the financial year 2020-21?

A. 33.76%
B. 30.19%
C. 25.59%
D. 20.25%
E. None of these

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Correct Answer – B. 30.19%    

Explanation: RBI data has showed that digital payments in India have recorded a growth of 30.19% during the financial year which ended on March 2021. The newly constituted Digital Payments Index (RBI-DPI) in its report said that at the end of March 2021, the index rose to 270.59 from 207.84 the previous year. The RBI-DPI index has shown the significant growth in its index represents the rapid deepening and adoption of digital payments across India in the recent few years.

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