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 Q .
Which bank has become the first to enter in the metaverse?
A)
UBS
B)
Barclays
C)
JPMorgan
D)
Citibank

Correct Answer : Option (C) - JPMorgan

Note : JPMorgan (largest bank in the U.S.) announced that it has become the first bank to enter in the metaverse. It has opened a lounge in Decentraland i.e. a virtual world based on blockchain technology.

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Published On : February 20, 2022
Category : Banking
 Q .
India has inked Comprehensive Economic Partnership Agreement (CEPA) with UAE. The agreement aims to increase the bilateral trade between the two countries from the current USD 60 billion to________ in the next 5 years
A)
USD 100 billion
B)
USD 120 billion
C)
USD 140 billion
D)
USD 155 billion

Correct Answer : Option (A) - USD 100 billion

Note : A Comprehensive Economic Partnership Agreement (CEPA) was signed between Minister of Commerce and Industry Shri Piyush Goyal and Minister of Economy of UAE, H.E. Abdulla bin Touq Al Marri. The CEPA, is a free trade agreement (FTA) between the two countries to increase the bilateral trade from the current USD 60 billion to USD 100 billion in the next 5 years.

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Published On : February 20, 2022
Category : Indian Economy
 Q .
From the Central Bank of Singapore, the Government of Singapore and other mutual fund companies, Which bank has been in the news recently for raising Rs 550 crore?
A)
State Bank of India (SBI)
B)
IndusInd Bank
C)
IDFC First Bank
D)
Equitas Small Finance Bank

Correct Answer : Option (D) - Equitas Small Finance Bank

Note :

Equitas Small Finance Bank has raised Rs 550 crore from the government of Singapore, Singapore's central bank and a host of local mutual funds in the qualified institutional placement of equities.
 
The government of Singapore invested about Rs 155 crore while the Monetary Authority of Singapore put in Rs 36 crore.
 
The balance Rs 359 crore was invested by mutual funds Nippon Life India Trustee, SBI Mutual Fund, ICICI Prudential, HDFC Mutual Fund and HDFC Trustee Company.
 
The bank sold the shares at Rs 53.59 apiece, which is at about a 5 per cent discount to the floor price of Rs 56.40. The price includes a premium of Rs 43.59 over the face value of Rs 10 per share. The stock was at Rs 53.45 on BSE at the end of Friday's session.
 
The share sale through qualified institutional placement (QIP) will reduce the promoters holding to 75 per cent and raise public shareholding to a minimum of 25 per cent, as stipulated by the market regulator Securities & Exchange Board of India.
 
The promoter of the bank – Equitas Holdings – holds 81.36 per cent while the balance 18.64 per cent lies with the public, according to the shareholding pattern at the end of December 2021..

Source : Economic Times

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Published On : February 20, 2022
Category : Banking
 Q .
Name the bank which has recently acquired a majority stake in India Debt Resolution Company Limited (IDRCL)?
A)
Canara Bank
B)
Punjab National Bank (PNB)
C)
Kotak Mahindra Bank
D)
State Bank of India (SBI)

Correct Answer : Option (A) - Canara Bank

Note :

Canara Bank has picked up 14.9 per cent in India Debt Resolution Company Limited (IDRCL) while Bank of Baroda bought 12.3 per cent in it.
 
IDRCL is an asset management company set up by the government with an authorized capital of Rs 50 crore. It will work in tandem with the National Asset Reconstruction Company Ltd (NARCL) to clean up the banking sector's bad loans. IDRCL will provide management and resolution of assets acquired by NARCL.
 
Public sector lenders will hold 49 per cent in IDRCL while private sector lenders will hold 51 per cent.
 
Canara Bank has subscribed to 1.2 lakh equity shares of Rs 10 and BoB has subscribed to 99,000 equity shares at par. Canara Bank's stake in IDRCL will be reduced to 5 per cent by the end of the current fiscal while BoB's stake will be reduced to 9.9 per cent, according to regulatory filings by these lenders.

Source : Economic Times

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Published On : February 20, 2022
Category : Banking
 Q .
The Kotak Mahindra Bank has partnered with which company to provide integrated Point of Sale (PoS) solutions to its merchant partners?
A)
PayU
B)
Ezetap
C)
Paytm
D)
Paypal

Correct Answer : Option (B) - Ezetap

Note : Kotak Mahindra Bank has partnered with Ezetap to provide integrated Point of Sale (PoS) solutions to merchants across 4,000 locations in India.

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Published On : February 19, 2022
Category : Banking
 Q .
Which bank has won the highest number of awards at IBA's Annual Banking Technology Awards 2021?
A)
State Bank of India
B)
South Indian Bank
C)
Kotak Mahindra Bank
D)
The Jammu & Kashmir Bank

Correct Answer : Option (B) - South Indian Bank

Note : Indian Banks’ Association (IBA) has announced the IBA’s 17th Annual Banking Technology Awards 2021 on February 14, 2022. In total South Indian Bank has won 6 awards in the event.

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Published On : February 19, 2022
Category : Banking
 Q .
The global trade (goods & services) recorded what percent increase in 2021, over the previous year 2020, as per the annual Global Trade Update 2022 released by UNCTAD?
A)
14%
B)
17%
C)
20%
D)
25%

Correct Answer : Option (D) - 25%

Note : The UN Conference on Trade and Development (UNCTAD) released its annual Global Trade Update 2022 on 17 February 2022, which shows that the value of global trade, both in goods and services, reached a record level of $28.5 trillion in 2021. This is an increase of 25% compared to 2020 and 13% higher compared to 2019.

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Published On : February 19, 2022
Category : Indian Economy
 Q .
Which Bank has bagged three awards at the 17th Annual Banking Technology Conference and Awards?
A)
Axis Bank
B)
HDFC Bank
C)
Karnataka Bank
D)
Union Bank of India

Correct Answer : Option (C) - Karnataka Bank

Note :

Karnataka Bank has bagged three awards at the 17th Annual Banking Technology Conference and Awards: 2020-21 Next-Gen Banking, instituted by Indian Banks’ Association (IBA). The bank has won the awards under categories: Best Technology Bank of the Year; Best Fintech Adoption; and Best Use of AI/ML & Data Analytics — all runner-ups.
 
With this focus on technology and digital transformation, the bank endeavours to emerge as ‘Digital Bank of Future’ all the while retaining its core values and identity built on more than 98 years of purposeful banking history.

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Published On : February 18, 2022
Category : Banking
 Q .
Which company is likely to launch IPO worth USD 8 billion in March?
A)
Life Insurance Corporation (LIC)
B)
Hindustan Aeronautics Limited(HAL)
C)
Air India
D)
Oil and Natural Gas Corporation(ONGC)

Correct Answer : Option (A) - Life Insurance Corporation (LIC)

Note : India's state-run Life Insurance Corporation (LIC) is set to launch India's biggest-ever IPO worth USD 8 billion on March 11, 2022. LIC's IPO is expected to get regulatory approval by the first week of March after which the marketing price band will be set.

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Published On : February 18, 2022
Category : Business and Economics
 Q .
How many teams will compete in the league stage of Ranji Trophy 2022?
A)
24 teams
B)
31 teams
C)
38 teams
D)
47 teams

Correct Answer : Option (B) - 38 teams

Note : The Ranji Trophy 2022 league phase will comprise 38 teams from different states and union territories. There will be 57 matches in the league phase that will be played in the short window between February 16 and March 5. The knockout stage of the tournament will be held after the IPL.

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Published On : February 18, 2022
Category : Sports
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