Banking Awareness 12th November 2019: Updates Quiz

Exp. State Bank of India (SBI) has launched doorstep banking service for senior citizens over 70 years of age and differently-abled customers .

Eligible customers can avail this service at a nominal fee of ₹100 per transaction for financial transactions and ₹60 for non-financial transactions.

Exp. India’s largest bank State Bank of India (SBI) announced the launch of YONO Cash using which customers can withdraw money from ATMs without using a card.

SBI chairman Rajnish Kumar said the new initiative will address concerns over using debit cards at ATMs for cash withdrawals by eliminating the possible associated risks. “This feature on YONO is designed to help its users withdraw cash without a physical debit card,  it also maximizes convenience and enhances the banking experience for its customers. SBI said that transactions using YONO will be secured with two-factor authentication and will also eliminate the risk of skimming and cloning.

Exp. The Banking Ombudsman Scheme enables an expeditious and inexpensive forum to bank customers for resolution of complaints relating to certain services rendered by banks. The Banking Ombudsman Scheme is introduced under Section 35 A of the Banking Regulation Act, 1949 by RBI with effect from 1995.

Exp. The Reserve Bank of India (RBI) has given its nod to HDFC Ltd for acquiring up to 9.9% stake in Bandhan Bank following the Gruh Finance deal.

Gruh Finance, the affordable housing finance arm of HDFC Ltd, was taken over by Bandhan Bank in a share-swap deal in January.

Exp. Export-Import Bank of India (Exim Bank) signed a loan agreement on behalf of the government of USD 83.11 million to Congo for financing three solar power projects in the central African country.

It aims to provide support for financing three solar photovoltaic power projects with a total capacity of 35 megawatts in the three provinces — Karawa, Mbandaka, and Lusambo.

Exp. National Payments Corporation of India (NPCI) is an umbrella organization for all retail payments system in India. It was set up with the guidance and support of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA).

Exp. Sir Osborne Smith was the first Governor of the Reserve Bank. He held from 01st April 1935 to 30th June 1937.

Exp. The Reserve Bank of India (RBI) has gave in-principle approvals to infrastructure financier IDFC Ltd and microlender Bandhan Financial Services Pvt. Ltd to start new banks in 2014.

Exp. HSBC bank first introduced Automated Teller Machine (ATM) in India (1987).

Exp. PSLCs stands for Priority Sector Lending Certificates.