Private Sector Banks in India - Banking awareness questions on current affairs

1)   South Indian Bank has its headquarter in which state?
- Published on 17 Feb 17

a. Tamil Nadu
b. Kerela
c. Andhra Pradesh
d. Karnataka
Answer  Explanation 

ANSWER: Kerela

Explanation:
South Indian Bank Limited (SIB) is a major private sector bank headquartered at Thrissur City in Kerala, India.

Founded : 1929
Headquarter : Thrissur, Kerela
Current Head : Sri. V.G. Mathew (MD & CEO)

Two other major banks with headquarters in Kerela are -

Dhanalakshmi Bank

Founded : 1927
Headquarters : Thrissur, Kerela
Current Head : Sri G. Sreeram (MD & CEO)

Catholic Syrian Bank

Founded : November 26, 1920
Headquarter : Thrissur, Kerela
Current Head : CVR Rajendran (MD & CEO)


2)   Which of the following bank has its headquarters in Tamil Nadu?
- Published on 17 Feb 17

a. Dhanalakshmi Bank
b. Karur Vysya Bank
c. South Indian Bank
d. Catholic Syrian Bank Ltd
Answer  Explanation 

ANSWER: Karur Vysya Bank

Explanation:
Karur Vysya Bank is a private-sector Indian bank, headquartered in Karur in Tamil Nadu.

It was set up in 1916 by M. A. Venkatarama Chettiar and Athi Krishna Chettiar.

It is one of the largest old generation private bank in India and largest in Tamil Nadu Internet Banking and Mobile Banking facilities to its customers.

The bank is known for its cash deposit machines (CDM) a major technology initiative taken only by few banks in India.

This bank is also an excellent paymaster amongst all private sector banks.

The bank has been paying ex-gratia each year to all employees for several years.

Karur Vysya Bank

Founded : 1916
Headquarter : Karur, Tamil Nadu
Current Head : K. Venkataraman (MD& CEO)

Similarly, other major banks that have their headquarters in Tamil Nadu are -

Tamilnad Mercantile Bank

Founded : 11 May 1921
Headquarter : Tuticorin, Tamil Nadu
Current Head : HS Upendra Kamath (MD & CEO)

Lakshmi Vilas Bank

Founded : 1926
Headquarter : Chennai, Tamil Nadu
Current Head : Parthasarathi Mukherjee (MD & CEO)


3)   Which of the following banks is ready to acquire Micro finance Grama Vidiyal?
- Published on 17 Feb 17

a. Bandhan Bank
b. IDFC Bank
c. Kotak Mahindra Bank
d. HDFC Bank
Answer  Explanation 

ANSWER: IDFC Bank

Explanation:
Private sector lender IDFC Bank announced the acquisition of Tamil Nadu-based Grama Vidiyal Micro finance that will help it widen the reach.

IDFC Bank claims that it is the first time an Indian bank has acquired a micro-finance institution.

Prior to this, the bank had purchased 10% stake in Dhaka-based ASA International in January for nearly Rs 8.5 crores.

IDFC received a universal banking license from the Reserve Bank of India (RBI) in July 2015.

IDFC Bank

Founded : October, 2015
Headquarter : Mumbai, Maharashtra
Current Head : Dr. Rajiv Lall (MD & CEO)


4)   The newest private sector bank, Bandhan Bank has announced that it targets 180 new branches by March 2017. Who is the MD and CEO of Bandhan Bank?
- Published on 16 Feb 17

a. Vijay Shekhar Sharma
b. Chandra Shekhar Ghosh
c. Melwyn Rego
d. Kishor Kharat
Answer  Explanation 

ANSWER: Chandra Shekhar Ghosh

Explanation:
Bandhan Bank plans to open 180 new branches by March next year with an aim to build a pan India brand.

Chandra Shekhar Sharma is the MD and CEO of Bandhan Bank which is headquartered at Kolkata.

Bandhan Financial Holdings is owned by Bandhan Financial Services Limited (BFSL), the largest micro finance organization in India.

Its public shareholders include International Finance Corporation (IFC), Small Industries Development Bank of India (SIDBI), Caladium Investment Pte. Ltd. (a company managed by GIC Special Investments Private Limited), Bandhan Employees Welfare Trust, and a few individuals.


5)   Which is the first bank in India to integrate the Masterpass QR Mobile Payment solution?
- Published on 16 Feb 17

a. HDFC
b. DCB
c. RBL
d. ICICI
Answer  Explanation 

ANSWER: RBL

Explanation:
Global payments & technology company, MasterCard has tied up with Ratnakar Bank (RBL Bank), the first lender to integrate the Masterpass QR service with its mobile platform - “OnGo” digital wallet.

RBL Bank Limited (formerly known as The Ratnakar Bank limited) is a scheduled commercial bank headquartered in the Kolhapur region of Maharashtra.

Founded in August 1943, RBL is one of the oldest private sector banks in India.

RBL Bank in November 2016, launched 'Aadhaar Payment Bridge System' (APBS) for small ticket micro-finance loan disbursements.

It is the first bank to launch the APBS on its platform and the intent is to meet the government's target on digital banking.

RBL Bank

Founded : August 1943
Headquarter : Kolhapur, Maharashtra
Current Head : Vishwavir Ahuja (MD & CEO)


6)   Which bank has become the first private sector bank to sell Indian gold coins?
- Published on 16 Feb 17

a. Dhanlaxmi Bank
b. Federal Bank
c. Karur Vysya Bank
d. ICICI Bank
Answer  Explanation 

ANSWER: Federal Bank

Explanation:
Kerala based private sector lender, Federal Bank has tied up with MMTC Ltd. for distribution of Indian Gold Coins (IGC), the first-Ever national gold offering by the government, which was launched by Prime Minister Narendra Modi In November 2015.

The Federal Bank Limited is a major Indian commercial bank in the private sector, headquartered at Aluva, Kochi, Kerala.

Federal Bank

Founded : 1945
Headquarter: Kochi, Kerela, India
Current Head : Shyam Srinivasan (MD & CEO)


7)   Which private bank was earlier known as The Kumbakonam Bank Limited?
- Published on 16 Feb 17

a. Tamilnad Mercantile Bank
b. Federal Bank
c. South Indian Bank
d. City Union Bank
Answer  Explanation 

ANSWER: City Union Bank

Explanation:
City Union Bank

The Kumbakonam Bank Limited, as it was at first called, was incorporated as a limited company on 31st October 1904.

The bank initially preferred the role of a regional bank in the Thanjavur District Tamil Nadu.

In December 2006, Larsen & Toubro bought 10% of the bank.

The bank celebrated its 110th years of service on 31st October 2014.

CUB - City Union Bank

Founded : 1904
Headquarter : Kumbakonam, Tamil Nadu, India
Current Head : Dr. N. Kamakodi (MD & CEO)


8)   Which Private bank is the wholly owned subsidiary of Bank of Baroda?
- Published on 15 Feb 17

a. Axis Bank
b. Nainital Bank
c. HDFC Bank
d. Bandhan Bank
Answer  Explanation 

ANSWER: Nainital Bank

Explanation:
The Nainital Bank Limited (NTB) (known as Nainital Bank) is a scheduled commercial bank founded in 1922.

The bank is a subsidiary of Bank of Baroda, the second largest bank in India.

Nainital Bank was founded by Govind Ballabh Pant.

In 1975, the government-owned Bank of Baroda (BOB), the second largest bank in India, acquired a 98.6% (around 99%) stake in the bank and made it a subsidiary.

Nainital bank is associated with Bank of Baroda, HDFC Bank, LIC, National Insurance Company Limited etc.

Currently, NBL has 125 branches in Uttarakhand, Uttar Pradesh, Delhi, Haryana and Rajasthan.

Nainital Bank

Founded : 1922
Headquarter : Nainital, Uttarakhand
Current Head : Mukesh Sharma (Chairman & CEO)


9)   Yes Bank in August 2016 rolled out which facility under its ‘Yes We Care’ initiative?
- Published on 15 Feb 17

a. 2 months leave for new father
b. 6 months leave for pregnant women
c. Work from home
d. Adoption leave
Answer  Explanation 

ANSWER: Adoption leave

Explanation:
The new policy is called “Bringing A Beautiful Yes”.

Private sector lender Yes Bank has rolled out adoption benefits for its workforce, to align organizational objectives with the needs of employees.

Realizing that employees need to spend time building and emotional connect with new additions to the family and recognizing that many are choosing to adopt children, the organization has introduced the benefits, which are applicable 1st August onwards.

YES Bank is India's fifth largest private sector Bank, founded by Rana Kapoor in 2004.
YES Bank is the only Greenfield Bank license awarded bank by the RBI in the last two decades.
YES Bank is a “Full Service Commercial Bank”, and has steadily built a Corporate, Retail & SME Banking franchise, Financial Markets, Investment Banking, Corporate Finance, Branch Banking, Business and Transaction Banking and Wealth Management business lines across the country.

YES Bank

Founded : 2004
Headquarter : Mumbai, Maharashtra
Current Head : Rana Kapoor (MD & CEO)


10)   Name the mobile banking app of Kotak Mahindra Bank (KMB) launched primarily for “un-banked” regions?
- Published on 13 Feb 17

a. Kotak Bharat
b. Bharat
c. Kotak India
d. IndianKotak
Answer  Explanation 

ANSWER: Kotak Bharat

Explanation:
It is the ‘inclusive digital banking’ app launched by KMB that is primarily targeted to benefit customers in the under-banked and un-banked regions, who can access its services in their preferred language. One major benefit of this app is that it requires no internet connectivity.


Kotak Mahindra Bank

Kotak Mahindra Bank is an Indian private sector banking headquartered in Mumbai, Maharashtra, India.

In February 2003, Reserve Bank of India (RBI) gave the license to Kotak Mahindra Finance Ltd., the group's flagship company, to carry on banking business.

In 2016, it was the third largest private bank in India by market capitalization.

In 2014, Kotak Bank acquired ING Vysya Bank for a deal valued at ?15,000 crores (US$2.2 billion).

Post the merger, ING Group which controlled ING Vysya Bank will own 7% share in Kotak Mahindra Bank.

KMB - Kotak Mahindra Bank

Founded - 1985 (as Kotak Mahindra Finance Ltd)
Headquarter - Mumbai, Maharashtra
Current Head - Uday Kotak (Founder & Executive Vice Chairman & MD)


1 2