Banking, Finance & Economy Current Affairs Quiz – November 25, 2022
November 25, 2022 November 25, 2022
1. Recently, a circular was released by which of the following organizations regarding the computation of the LCR?
[A] RBI
[B] NABARD
[C] SIDBI
[D] SEBI
Show Answer
Correct Answer: A [RBI]
Notes:
The Reserve Bank of India (RBI) announced that overnight balances under the Standing Deposit Facility (SDF), held by banks with the RBI, were eligible for liquidity coverage ratio (LCR) computation. It will be eligible for LCR computation as Level 1 High-Quality Liquid Assets (HQLA).
2. In collaboration with the National Payments Corporation of India (NPCI), which of the following banks created India’s first sticker-based debit card?
[A] HDFC
[B] ICICI
[C] Canara
[D] IDFC First
Show Answer
Correct Answer: D [IDFC First]
Notes:
IDFC First Bank launched India’s first sticker-based debit card, FIRSTAP, in collaboration with the National Payments Corporation of India (NPCI). FIRSTAP will facilitate the transaction by tapping on the sticker on a Near Field Communication (NFC)-enabled POS terminal. FIRSTAP is one-third the size of a regular debit card and can be affixed to any surface, including an ID card, mobile wallet, watches, etc.
3. Which bank collaborated with the National e-Government Services Limited (NeSL) to establish the Electronic Bank Guarantee (e-BG) platform?
[A] Canara
[B] IDFC First
[C] ICICI
[D] HDFC
Show Answer
Correct Answer: A [Canara]
Notes:
Canara Bank launched the Electronic Bank Guarantee (e-BG) platform in collaboration with the National e-Governance Services Limited (NeSL).The Electronic Bank Guarantee (e-BG) was launched on the 117th Foundation Day of the Canara Bank. The e-BG platform will provide greater transparency, secure transactions, and better trigger monitoring, leading to higher compliance. In addition, the platform will also provide an API-based digital workflow for bank guarantees that will eliminate physical issuance, verification, stamping, and paper-based record maintenance.
4. Which of the following was recently added to the Reserve Bank of India’s (RBI) list of Financial Information Providers (FIPs)?
[A] Associated Chambers of Commerce and Industry of India (ASSOCHAM)
[B] Goods and Services Tax Network (GSTN)
[C] Self Employed Women’s Association (SEWA)
[D] Bureau of Energy Efficiency (BEE)
Show Answer
Correct Answer: B [Goods and Services Tax Network (GSTN)]
Notes:
The Reserve Bank of India (RBI) included the Goods and Services Tax Network (GSTN) in the Financial Information Providers (FIPs) list. The GSTN was included in the FIP list by the RBI under the Account Aggregator (AA) framework. The primary objective of this inclusion is to facilitate cash flow-based lending to the MSME sector. The RBI said that for this purpose, the GSTN shall be regulated by the Department of Revenue, Ministry of Finance.
5. The Free Trade Agreement (FTA) between India and which nation was recently authorized for textiles, leather, furniture, jewellery, and machinery?
[A] Russia
[B] Australia
[C] Japan
[D] USA
Show Answer
Correct Answer: B [Australia]
Notes:
The free trade agreement (FTA) between India and Australia has been approved by the Australian parliament.
