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

1)   Who has been appointed as the MD and CEO of Bank of Baroda by the government?
- Published on 17 Feb 17

a. P. S. Jayakumar
b. Jaykumar Sharma
c. Shiv Pal Sharma
d. Ajay Shankar
Answer  Explanation 

ANSWER: P. S. Jayakumar

Explanation:
This is the first time the government has chosen the candidate from the private sector to head the Public-Sector Banks.

Bank of Baroda is an Indian state-owned banking and financial services company headquartered in Vadodara (earlier known as Baroda) in Gujarat, India.

It is the second largest bank in India, next to State Bank of India.

Its headquarters is in Vadodara, it has a corporate office in the Bandra Kurla Complex in Mumbai.

BoB - Bank of Baroda

Founded : 20 July 1908; 108 years ago
Founder : Maharaja H. H. Sir Sayajirao Gaekwad III
Headquarter : Vadodara, India
Current Head : P S Jayakumar (MD & CEO)


2)   Canara Bank and Corporation Bank have headquarters in _____ and _____ respectively.
- Published on 17 Feb 17

a. Bangalore, Mangalore
b. Mangalore, New Delhi
c. Both in Bangalore
d. Both in Mangalore
Answer  Explanation 

ANSWER: Bangalore, Mangalore

Explanation:
Canara Bank is an Indian state-owned bank headquartered in Bangalore, Karnataka.

It was established at Mangalore in 1906, making it one of the oldest banks in the country.

The bank also has offices abroad in London, Hong Kong, Moscow, Shanghai, Doha, Bahrain, South Africa, Dubai, Tanzania and New York.

Canara Bank

Founded : Canara Bank Hindu Permanent Fund (1906; 110 years ago, Mangalore) Canara Bank Ltd (1910) Canara Bank (1969)
Headquarter : Bangalore, Karnataka, India
Current Head : Shri Rakesh Sharma (MD & CEO)

Corporation Bank

Corporation Bank is a public-sector banking company headquartered in Mangalore, India.

Founded : 12 March 1906; 110 years ago
Headquarter : Mangalore, Karnataka, India
Current Head : Jai Kumar Garg (CEO & MD)


3)   Who has been appointed as the MD and CEO of Canara Bank by the government?
- Published on 17 Feb 17

a. K K Sansi
b. Rakesh Sharma
c. Chanda Kochhar
d. Aditya Puri
Answer  Explanation 

ANSWER: Rakesh Sharma

Explanation:
Rakesh Sharma is chosen from private sector to head the Public Sector Bank.

Before being appointed by the Government to head Canara Bank, Sharma was the MD and CEO of Lakshmi Vilas Bank since March 2014, where, in a short span of 18 months, he helped the private sector lender excel in all parameters.

Similarly, Kishor Kumar Sansi is appointed as the MD & CEO of Vijaya Bank.

Vijaya Bank is a fastest growing Public Sector Bank with its Corporate Office in Bangalore, Karnataka, India.

It is one of the nationalized banks in India.

Vijaya Bank was founded in the year 1931 at Mangalore, India.


4)   Bhartiya Mahila Bank was founded in the year ____?
- Published on 16 Feb 17

a. 2012
b. 2013
c. 2014
d. 2011
Answer  Explanation 

ANSWER: 2013

Explanation:
Bhartiya Mahila Bank (BMB) is an Indian financial services banking company based in New Delhi, India.

Although initially reported as a bank exclusively for women, the bank allows deposits to flow from everyone, but lending will be predominantly for women.

India is the third country in the world to have a bank especially for women, after Pakistan and Tanzania.

BMB – Bhartiya Mahila Bank

Founded : 2013; 3 years ago
Headquarter : New Delhi, India
Current Head : S. M. Swathi (ED)

Major banks that have headquarters in New Delhi are -

Punjab & Sind Bank

Founded : 24 June 1908; 108 years ago
Headquarter : New Delhi, India
Current Head : S. Jatinderbir Singh (CEO & MD)

Oriental Bank of Commerce

Founded : 19 February 1943; 73 years ago
Headquarter : New Delhi, India
Current Head : Shri Animesh Chauhan (CEO & MD)


5)   Which bank was united with the Punjab National Bank in 1993?
- Published on 16 Feb 17

a. Oudh Commercial Bank
b. New Bank of India
c. Punjab and Sind Bank
d. Imperial Bank of India
Answer  Explanation 

ANSWER: New Bank of India

Explanation:
The New Bank of India which was running at a loss was united with the Punjab National Bank in September 1993.

The Government of India nationalized New Bank of India in 1980. Punjab National Bank acquired New Bank of India in 1993.

No other nationalized bank in India has been merged into another bank (except for State Bank of India with its associate banks).

PNB - Punjab National Bank

Founded : 19 May 1894; 122 years ago
Headquarter : New Delhi
Current Head : Usha Ananthasubramanian (Aug 14, 2015-Present)

In December 2016, Punjab National Bank (PNB) announced a partnership with Ola to aid cash withdrawals for the citizens of Delhi and the National Capital Region (NCR).


6)   RBI has imposed a fine of Rs. 1 crore on which of the following banks for flouting bill discounting norms?
- Published on 16 Feb 17

a. Syndicate Bank
b. United Bank of India
c. Indian Overseas Bank
d. UCO Bank
Answer  Explanation 

ANSWER: UCO Bank

Explanation:
Reserve Bank of India has told state-run UCO Bank to pay Rs 1 crore penalty for flouting bill discounting norms which allowed current account holders siphon out funds.

UCO Bank, formerly United Commercial Bank, established in 1943 in Kolkata, is a major government-owned commercial bank of India.

UCO Bank's headquarters is on BTM Sarani, Kolkata.

UCO Bank

Founded : 6 January 1943; 73 years ago
Headquarter : Kolkata, India
Current Head : Mr. Ravi Krishan Takkar (Chairman & MD)

Other Major Banks that have headquarters at Kolkata are -

Allahabad Bank

Founded : 24 April 1865; 151 years ago
Headquarter : Kolkata
Current Head : Rakesh Sethi (Chairman & MD)

United Bank of India

Founded : 1950; 66 years ago
Headquarter : Kolkata
Current Head : Pawan kumar Bajaj (MD & CEO)


7)   Which among the following acquired the United Western Bank in the year 2006?
- Published on 16 Feb 17

a. IDBI
b. Union Bank of India
c. State Bank of India
d. Allahabad Bank
Answer  Explanation 

ANSWER: IDBI

Explanation:
IDBI Bank is an Indian government-owned financial service company, formerly known as Industrial Development Bank of India, headquartered in Mumbai, India.

It was established in 1964 by an Act of Parliament to provide credit and other financial facilities for the development of the fledgling Indian industry.

It is currently 10th largest development bank in the world in terms of reach, with 3350 ATMs, 1853 branches, including one overseas branch at Dubai and 1382 centers.

IDBI Bank

Founded : July 1964; 52 years ago
Headquarter : Mumbai India
Current Head : Mr. Kishor Kharat (MD & CEO)


8)   Which among the following bank has its headquarters in Mumbai?
- Published on 15 Feb 17

a. Allahabad Bank
b. UCO Bank
c. United Bank of India
d. Bank of India
Answer  Explanation 

ANSWER: Bank of India

Explanation:
Bank of India (BoI) is commercial bank with headquarters in Mumbai, Maharashtra, India.

Founded in 1906, it has been government-owned since nationalization in 1969.

BoI is a founder member of SWIFT (Society for Worldwide Inter Bank Financial Telecommunications), which facilitates provision of cost-effective financial processing and communication services.

BoI - Bank of India

Founded : 7 September 1906, 110 years ago
Headquarter : Mumbai, Maharashtra, India
Current head : Shri Melwyn Rego (MD & CEO)


9)   Which bank was the first to deploy 'Talking ATMs' for differently abled person?
- Published on 15 Feb 17

a. Union Bank of India
b. United Bank of India
c. State Bank of India
d. Punjab National Bank
Answer  Explanation 

ANSWER: Union Bank of India

Explanation:
Union Bank of India (UBI) is one of the largest government-owned banks of India (the government owns 63.44% of its share capital).

Its online Telebanking facility are available to all its Core Banking Customers - individual as well as corporate.

It has representative offices in Abu Dhabi, United Arab Emirates, Beijing, Peoples Republic of China, London and Shanghai and branches in Hong Kong, Dubai, Antwerp and Sydney.

UBI – Union Bank of India

Founded : 11 November 1919; 97 years ago
Headquarter : Mumbai, India
Current Head : Arun Tiwari (Chairman & MD)


10)   Allahabad Bank is one of the oldest public sector bank in India with its headquarters at Kolkata. Which among the following banks have headquarters in Mumbai?
- Published on 13 Feb 17

a. UCO Bank
b. United Bank of India
c. Dena Bank
d. Indian Bank
Answer  Explanation 

ANSWER: Dena Bank

Explanation:
Dena Bank headquartered in Mumbai, is owned by the Government of India.

Dena Bank was founded on 26 May 1938 by the family of Devkaran Nanjee under the name Devkaran Nanjee Banking Company.

It adopted its new name, Dena Bank (Devkaran Nanjee) when it was incorporated as a public company in December 1939.

Dena Bank

Founded - 26 May 1938; 78 years ago
Headquarter - Mumbai, Maharashtra, India
Current Head - Shri Ashwani Kumar (Chairman & MD)


1 2