HDFC, HSBC - Current Affairs Questions and Answers

1)   Who has been appointed Group Chairman of HSBC?

a. Mark Tucker
b. Simon Tucket
c. Stuart Gulliver
d. None of the above
Answer  Explanation 

ANSWER: Mark Tucker

HSBC has appointed Mark Tucker, the chief executive of Asian insurer AIA, as group chairman.

Tucker will take over on 1 October, succeeding Douglas Flint who has been in the role since 2010.

The appointment breaks an HSBC tradition of appointing insiders to the chairmanship.

Tucker has been chief executive of AIA for seven years, during which he oversaw the insurer's expansion in Asia.

Prior to AIA, he was the chief executive of insurance giant Prudential, and brings to HSBC his experience at the top of a UK financial giant as well as his Asian exposure.

HSBC has been through an overhaul in recent years in an attempt to reverse declining profits.

Over the past six years it has cut more than 40,000 jobs and sold off businesses.

Despite those efforts, profits tumbled more than 60% last year.

In 2017, it reached a $470m (£325m) settlement with the US government and states related to dubious mortgage lending and foreclosure practices during the financial crisis.

In late 2012 HSBC paid US authorities $1.9bn in a settlement over money laundering.

AIA said that Ng Keng Hooi, would take over as chief executive from 1 September.


  • CEO: António Pedro dos Santos Simões (1 Sep 2015)
  • Headquarters: London, United Kingdom
  • Founded: 15 August 1836, Birmingham, United Kingdom
  • Number of employees: 85,000
  • Subsidiaries: First Direct, M&S Bank, HSBC Bank, HSBC France, more
  • Parent organization: HSBC

2)   HSBC Holdings Plc has made which decision after a strategic review on 27th November 2015?

a. Shut its India private banking operations
b. Close its international retail banking operations
c. Stop wealth management programs and projects
d. Cease to provide insurance
Answer  Explanation 

ANSWER: Shut its India private banking operations

HSBC Holdings Plc has made the decision to shut private banking operations in India after a strategic review. Private banking customers will have the option to be a client of HSBC Premier, a global retail banking and wealth management proposition. Indian private banking HSBC unit has 70 clients and around 32,000 employees in India. HSBC India reported 12 per cent dip in pre-tax profit for the January-June period at USD 335 million due to a fall in the merchant banking, retail banking and wealth businesses.

3)   According to an HSBC report released on 22nd October 2015, rural India is facing _____________ across major categories such as fuel,core and food.

a. Disinflation
b. Excess Inflation
c. Rural Inflation
d. None of the above
Answer  Explanation 

ANSWER: Excess Inflation

Regardless of the fact that overall inflation has fallen considerably in past few months, the benefits will not be distributed equally with rate of price rise higher in rural as compared to urban areas. Rural inflation has not fallen as much as urban inflation. Excess inflation rural India is facing is across major sub categories such as core, food and fuel. Structural bottlenecks are preventing rural areas from benefiting from global disinflation, according to the report.

4)   What is the full-form of HDFC?

a. Housing Department Finance Corporation
b. Housing Development Financial Corporation
c. Housing Development Finance Corporation
d. Housing Development Finance Company
Answer  Explanation 

ANSWER: Housing Development Finance Corporation

No explanation is available for this question!