YES Bank - Current Affairs Questions and Answers

ANSWER: Yes FinTech

Explanation:
Yes Bank in Jan 17, 2017 launched 'Yes Fintech', a business accelerator program. The program was launched in collaboration with T-Hub a startup incubator set up by the Telangana government.

Anthill - a speed scaling platform for early growth stage start-ups also participated.

Yes Bank has been collaborating with and supporting over 100 fintech start-ups in the country to provide innovative financial solutions to its corporate, SME and retail customer base.

This is part of its Alliances, Relationships & Technology (ART) approach to digitised banking

The accelerator will help the bank co-create disruptive innovations in:

• Financial inclusion,
• MSME focused solutions,
• Payments,
• Lending,
• Compliance,
• Risk management,
• Trade finance,
• Capital markets and
• Forex and treasury space

Financial technology startups are leading the digital revolution.

Yes Fintech Accelerator takes this philosophy forward and provides start-ups a platform for creating sustainable and market ready products.

ANSWER: YES Bank

Explanation:
YES Bank launched digital banking service SIMsePAY where account holders can make money transfers, pay utility bills and offer other mobile banking services without the need for smartphones or the internet.

The private sector bank has launched the service in partnership with the District Cooperative Bank, Dehradun and plans to launch it across the nation.

This will cater to a large section of the Indian population who remain unbanked or underbanked due to lack of smartphones or internet.

Close to 650 million feature phones in use.

The bank will also involve banking correspondents to spread the services further.

About SIMsePAY

• This is a wafer thin sticker pasted on SIM cards of TSPs
• It can be pasted on any SIM- standard, micro or nano.
• Sticker installs SIM Tool Kit based app which can be accessed by the customer on any mobile phone without the requirement of internet connectivity.
• Bank said the sticker would be linked to co-branded prepaid wallet or card which can be loaded to INR 50000.
• It runs through the cooperative bank account of the consumer.

Transactions performed include:


• National electronic funds transfer
• Immediate payment service based fund transfers
• Check balances
• Mini-statements

ANSWER: None of the above

Explanation:
An MoU was signed between SIDBI and YES Bank under the partial risk sharing facility for financial energy efficient projects.

• SIBDI will guarantee 75 percent of the loans up to INR 15 crore extending to energy efficiency projects.
• SIDBI is the project execution agency while the bank is the first Indian lender to be empaneled in the program.

ANSWER: 74%

Explanation:
CCEA approved Yes Bank’s request for increase in foreign investment to 74% from exist limit of 41.87 percent without any sublimit

• Attaining a total production in excess of INR 7.5 lakh crore by 2025 were among the objectives.

ANSWER: India Brazil Chamber of Commerce

Explanation:
Yes Bank has inked a pact with India Brazil Chamber of Commerce for cooperation in knowledge sharing and B2B covering the core sectors of sports, media and entertainment with special focus on IT infrastructure, broadcast driven business opportunities and special innovative business integrations.

ANSWER: Yes Bank

Explanation:
The private sector lender has purchased over 5 percent stake in the investor advisory firm, acquiring 5,00,750 shares of the firm from BSE which equals 5.006 percent of the paid up capital of the country. IiAS is a proxy advisory firm and an independent think tank on corporate governance.

ANSWER: Yes Bank

Explanation:
Yes Bank has won Bank of the year award in the UK given by Banker’s magazine and regarded as the Oscars of the banking industry. Yes Bank is only 11 years old. Previous winners of this award were large banks. For winning this award, banks from 120 nations were evaluated on numerous parameters such financial figures, technology, innovation, performance and marketing initiatives.

ANSWER: LSE

Explanation:
Yes Bank has signed a pact with London Stock Exchange for issuance of bonds and equity with focus on green infrastructure finance under which USD 500 million green bonds will be issued by December 2016 on the bourse. The agreement may be used to raise capital equity through global depository receipt listing on the LSE. Leading British lender Stan Chartered has entered into an agreement with the government for a new financial services leadership program to further the Skill India initiative through the Stan Chartered-Chevening Financial Services Leadership Programme