SBI, Snapdeal - Current Affairs Questions and Answers

1)   How many associate banks will merge with SBI leading to increased capital base and availability of loan?

a. 3
b. 4
c. 5
d. 6
Answer  Explanation 


The merger of the five associate banks with the SBI will lead to increased capital base and availability of loan, as the Lok Sabha passed the bill approving the amalgamation.

The Lok Sabha passed the bill to repeal the SBI (Subsidiary Banks) Act 1959, State Bank of Hyderabad Act 1956 and to further amend the State Bank of India Act, 1955, following the merger of five associates with the parent SBI.

With this merger, the SBI has come in the list of top 50 banks globally and is ranked at the 45th position.

The merger will bring about increased capital base and increased ability to give loans. Also, small banks will get access to products like mutual funds.

During the last two years, 29 crore bank accounts were opened, of which 25 per cent were zero balance accounts and farm loans increased from INR 3.5 lakh crore in 2009-10 to INR 10.65 lakh crore in 2016-17.

The merger will help increase SBI’s scope of operation and will pose a challenge to private banks as it will work as per the requirements of the people.

The merger has been planned keeping in mind the benefit of people and going forward its benefits will be seen.

According to the statement of object and reasons of the State Banks (Repeal and Amendment) Bill 2017, after the acquisition of the subsidiary banks by SBI, the subsidiary banks have ceased to exist and, therefore, it is necessary to repeal the State Bank of India (Subsidiary Banks) Act, 1959 and the State Bank of Hyderabad Act, 1956.

Five associates and the Bharatiya Mahila Bank became part of State Bank of India (SBI) beginning April 1, catapulting the country's largest lender to among the top 50 banks in the world.

The five associates that were merged are State Bank of Bikaner and Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Mysore (SBM), State Bank of Patiala (SBP) and State Bank of Travancore (SBT).

Following the merger, the total customer base of SBI increased to 37 crore with a branch network of around 24,000 and nearly 59,000 ATMs across the country.

The merged entity began operation with a deposit base of more than INR 26 lakh crore and advances level of INR 18.50 lakh crore.

As per the bill, after the acquisition of all the subsidiary banks by the SBI, it is not necessary to retain such provisions in the State Bank of India Act, 1955. .

Therefore, certain amendments are necessary in the said Act in so far as they relate to the subsidiary banks. The amendments are consequential in nature.

SBI had 90 per cent shareholding in the State Bank of Mysore, 75.07 per cent shareholding in the State Bank of Bikaner and Jaipur and 79.09 per cent shareholding in the State Bank of Travancore.

SBI: Know More

  • State Bank of India is an Indian multinational, public sector banking and financial services company.
  • It is a government-owned corporation with its headquarters in Mumbai, Maharashtra.
  • Customer service: 1800 425 3800
  • Chairperson: Arundhati Bhattacharya
  • Headquarters: Mumbai
  • Founded: 1 July 1955
  • Major Subsidiaries: SBI Cards, State Bank of Hyderabad

2)   Which is India’s largest commercial bank?

a. PNB
b. SBI
c. UTI
d. Vijaya Bank
Answer  Explanation 


India’s largest commercial bank State Bank of India (SBI) on Tuesday said it has launched a dedicated portal ‘SBI Realty’.

This will help home buyers to choose flats from its 3,000 approved projects across the country, which are spread across 13 states and Union Territories covering 30 cities.

State Bank of India has taken another step towards customers’ convenience by launching ‘SBI Realty’ - a one stop integrated website for home buyers.

At present, there are 9.5 lakh home units available on the website. Customers can compare current and past trends of prices for the properties in various localities in the city.

The portal will assist customers in calculating appropriate loan amount a customer should borrow based on income and credit profile.

SBI believes in innovation combined with an emphasis on market research, contemporary architecture, strong project execution and quality construction.

The SBI Realty website has been developed by SBICAP Securities in association with PropEquity in terms of data support, project information, etc.

SBI: Know More

  • SBI is the largest commercial bank in India in terms of assets, deposits, profits, branches, customers and employees.
  • The company has a deposit base of Rs 25.85 lakh crore.
  • It has an extensive network, with over 24 thousand branches in India and 194 offices in 35 other countries.

3)   Which SBI branch launched the first paperless banking service SBIinTouch?

a. Nepal
b. London
c. Mumbai
d. Delhi
Answer  Explanation 


Nepal SBI Bank, a subsidiary of the State Bank of India, today launched its fully automatic digital banking services SBIInTouch in the Nepalese capital Kathmandu.

This is for the first time the State Bank of India has expanded the paperless banking system outside India.

Digital banking provides various services including cash deposit, opening of new accounts, distribution of debit card, ATM and online banking information on touch of the screen.

Customers can avail the services from SBI Intouch Bank.

The digital banking unit also has a robot, which provides important information to customers in an interactive manner.

Nepal Rastra Bank Governor Chirinjibi Nepal, SBI Bank’s chairperson Arundhati Bhattacharya and Indian Ambassador to Nepal Manjeev Singh Puri, jointly inaugurated the new service, the first of its kind in Nepal.

The paperless banking service has been launched to target potential younger customers who are exposed to digital technology.

Paperless banking is a revolution in the banking sector of Nepal, said Chiranjibi Nepal.

4)   Which Snapdeal payment subsidiary executive resigned on 21st Feb 2017?

a. Govind Rajan
b. Sachin Bansal
c. Binny Bansal
d. None of the above
Answer  Explanation 

ANSWER: Govind Rajan

FreeCharge CEO Govind Rajan has resigned from the company within 9 months of his appointment as payment subsidiary of online marketplace Snapdeal.

Snapdeal, run by Jasper Infotech Pvt Ltd, has been trying to independently raise funds for FreeCharge but the company has struggled to attract investors in the past six to 10 months.

FreeCharge, which provides digital payments services, was acquired by Snapdeal for $450 million in April 2015 and appointed Rajan as the chief executive in May 2016.

Govind has brought incredible energy and focus in growing FreeCharge. The pace of progress will continue with the strong team that he has built.

Jason Kothari will oversee the business operations of FreeCharge as part of his overall responsibilities of portfolio management as the chief strategy and investment officer of Snapdeal.

Rajan was initially hired as the chief strategy officer of Snapdeal, prior to which he was at Bharti Airtel Ltd as its chief marketing officer and chief executive of Airtel Money.

He also worked at Hindustan Unilever Ltd for over 15 years.

Numerous high-level exits at Snapdeal, include Sandeep Komaravelly, head of peer-to-peer marketplace Shopo; Tony Navin, head of partnerships and strategic investments; and Abhishek Kumar, head of corporate development, mergers and acquisitions and investments.

Backed by Japan’s Softbank Group, which holds close to 33% in the company, Snapdeal has also received funding from Kalaari Capital.

Other funders are Nexus Venture Partners, eBay Inc., Foxconn Technology Group and Alibaba Group Holding Ltd.

Co-founders Kunal Bahl and Rohit Bansal now have a stake of less than 6.5% in the company, which has raised around $2 billion since its inception.

5)   SBI announced rebranding of its website to ________

d. sbi.banking
Answer  Explanation 


The State Bank of India (SBI) on 20th Feb 2017 announced rebranding of its website as

According SBI, the new domain name is the highest domain protocol known as generic top level domain (gTLD), an official statement.

The SBI group has several businesses. For those wanting to do banking or want to know about the bank it is easier to type out

The SBI group having presence in insurance, mutual fund and card may also go for such Generic top-level domain (gTLD).

With this, SBI has become the first banking organisation in India to use a gTLD for its online presence and providing an exclusive experience of assurance and security to its customers.

SBI being the largest bank has always been the pioneer in adapting new technology.

SBI has always believed in providing high-tech yet secure internet experience to its customers.

Bank's own gTLD is another step in this direction.

SBI's Chairperson is currently Arundhati Bhattacharya.

Bank's own gTLD aims at simplifying the digital experience of customers and brings in enhanced security against phishing and lookalike websites.

Due to its non-replicability, a gTLD site like ".sbi" conveys an assurance to the customer that the site is authorised, genuine and is not an inappropriate or phishing site.

The existing site of will continue till customers get used to the SBI's new secure website.

SBI: Know More

  • State Bank of India is an Indian multinational, public sector banking and financial services company.
  • It is a government-owned corporation with its headquarters in Mumbai, Maharashtra.
  • Founded: 1 July 1955
  • Subsidiaries: SBI Cards, State Bank of Hyderabad etc

6)   Merger of SBI with how many subsidiaries was approved on 15th Feb 2017?

a. 4
b. 5
c. 6
d. 7
Answer  Explanation 


The merger proposal was announced in May 2016 and was scheduled for March 2017.

The Union Cabinet on 15th Feb 2017 approved the merger of five of State Bank of India subsidiaries - State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, and State Bank of Travancore - with the SBI.

The merger proposal was announced in May 2016 and was scheduled for March 2017.

Finance Minister Arun Jaitley said that the Cabinet had earlier given its in-principle approval for the merger, and then had sent it to the respective banks for their suggestions.

These suggestions have been taken on-board, and the decision has been formally approved by the Cabinet.

This will lead to far greater operational efficiency and synergy of operations within these banks.

It will decrease the cost of operations, which will also result in a decrease in the cost of funds.”

The merger is likely to result in recurring savings, estimated at more than INR. 1,000 crore in the first year, through a combination of enhanced operational efficiency and reduced cost of funds.

Existing customers of subsidiary banks will benefit from access to SBI’s global network.

SBI, following the merger, will not only be a large domestic bank, but will also become a global player as well.

7)   Who has been appointed as Snapdeal's Chief Strategy and Investments Officer?

a. Rahul Yadav
b. Jason Kothari
c. Kunal Bansal
d. None of the above
Answer  Explanation 

ANSWER: Jason Kothari

Ex CEO Jason Kothari has been appointed the head of the Snapdeal strategy and investment operations.

This is following the merger of the realty portal with PropTiger.

Snapdeal's Chief Strategy and Investment Officer Kothari will work alongside Kunal Bhal and Rohit Bansal in a leading role.

Kothari will join Snapdeal on Jan 16, 2017. Both and Snapdeal are backed by SoftBank.

Kothari's responsibilities will include:

  • Leading strategy.
  • Corporate development, including all investments and strategic partnerships.
  • Raising new capital for the company and portfolio management.
  • Overseeing companies that Snapdeal wholly owns or has invested in. announced merger with News Corp-backed real estate brokerage firm PropTiger.

The joint entity raised USD 55 million from Real Estate Australia (REA) Group and Softbank.

Before, Kothari was CEO and Vice Chairman of character-based entertainment company Valiant Entertainment.

Know More about Snapdeal
  • Type of business: Private
  • Type of site: E-commerce
  • Founded: 2010
  • Headquarters: New Delhi, India
  • Founders: Kunal Bahl, Rohit Bansal
  • Industry: Internet
  • Subsidiaries: FreeCharge
  • Website:

8)   SBI has engaged which corporation’s Kisan Seva Kendras as banking correspondents to extend banking facilities to farmers across the nation?

a. IOC
Answer  Explanation 


SBI has engaged Indian Oil Corporation’s Kisan Seva Kendras as banking correspondents to extend banking facilities to farmers across the nation.

  • SBI signed an MoU with IOC as part of the financial inclusion programme lending further services to the farming community.
  • Indian Oil Corporation has set up 6,500 Kisan Seva Kendras in rural and remote areas providing access to numerous agricultural inputs like seeds, fertilisers and pesticides to farmers.
  • Tie up will enable farmers to avail various products and services by SBI customer service points such as saving account, recurring deposit and more.
  • IOC with net profit of INR 103.99 billion for 2015-2016 is India’s largest commercial enterprise.

9)   SBI has signed an MoU with SINE in July 2016.  What does SINE stand for?

a. Society for Innovation and Entrepreneurial Development
b. Society for Innovation and Entrepreneurism
c. Society for Innovation and Entrepreneurship
d. Society for Invention and Entrepreneurship
Answer  Explanation 

ANSWER: Society for Innovation and Entrepreneurship

State Bank of India in the second week of July 2016 has signed an MoU with the Indian Institute of Technology Society for Innovation And Entrepreneurship(SINE) to promote innovation by startups in the financial sector.

  • Deal also aims to evaluate start ups operating out of SINE or being promoted by SINE for early stage funding with the norms of the bank
  • SINE is an IIT-B incubator

10)   Which former COO of Go Javas has joined captive logistics unit of Snapdeal, Vulcan Express as its COO?

a. Vijay Ghadge
b. Vijay Singh
c. Vijay Shahane
d. Vijay Rahane
Answer  Explanation 

ANSWER: Vijay Ghadge

Vijay Ghagde has joined the Vulcan Express, a captive logistics unit of Snapdeal as the CEO

  • He was earlier the COO of e-commerce logistics company Go-Javas
  • Snapdeal holds 42 percent stake in GoJavas.
  • It is strengthening its supply chain and logistics capabilities investing INR 240 crore in Go Javas in 2 subsequent rounds in 2015
  • GoJavas was the logistics arm of Rocket Internet backed fashion retailer and is the largest logistics partner for Snapdeal

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