Banking Awareness – January 4th Week 2023 – PDF

1. Following allegations of financial discrepancies, a restructuring plan was put in place to rescue the private lender Yes Bank in March 2020 by RBI and also superseded the board and placed it under an administrator, ..................................

2. Which bank was banned by RBI from processing any foreign exchange remittances abroad under the so called Liberalised Remittance Scheme (LRS) till further orders?

3. Japan’s leading financial services player Credit Saison Company invested Rs ...................... in its wholly owned local subsidiary, Credit Saison India, signalling its intent to enhance exposure in the world’s fastest-expanding major economy.

4. According to the LRS (Liberalised Remittance Scheme) which was first introduced in 2004, all resident Indian individuals, are allowed to freely remit up to $.......................... per financial year for any transaction abroad.

5. NCLT directed to continue a status quo in an auction process of Reliance Capital until further order, in an application filed by the Torrent challenging the second auction and a late improved offer from the ........................... group entity.

6. The insurance industry is seeking a level-playing field with the National Pension System (NPS) with a ............................ exemption for annuity products of insurance companies to make them more competitive.

7. India's ............................ cities like Ludhiana, Jaipur, Patna and Pune beat metros in terms of buying term insurance or pure insurance products, as per a report based on latest study IPQ 5.0.

8. According to a Reuters poll of economists, Capex is set to increase in fiscal 2023/24 by about 17% to 8.85 trillion Indian rupees ($109 billion), from an estimated ............................rupees in the current fiscal year (FY 2022-23), itself up roughly 35% on a year before.

9. The Indian government will borrow a record Rs...........................in the fiscal year to March 2024, according to a Reuters poll of economists, who said infrastructure spending and fiscal discipline ought to be its highest budget priorities.

10. Which banks are benefiting from lower credit costs and increase in risk appetite due to asset quality clean-up, but they face the risk of yielding further ground to private lenders on deposit mobilization - across geographies and customer segments?

11. Which Bank is the lead lender in the ₹9,234 crore of Jaypee Infratech loan and thus the banks have transferred it to NARCL, marking the first acquisition for the government-backed bad-loan aggregator a year after the company started operations?

12. Banks have asked the government for protection against the arbitrary arrest of board members on the lines of that available to the top brass of the ............................

13. The Reserve Bank of India has imposed a monetary penalty of Rs ........................... on Nutan Nagarik Sahakari Bank, Ahmedabad for non-compliance with certain directions of the central bank.

14. Standard Chartered Bank has announced ...................... as the chief technology and operations officer.

15. In the Union Budget for 2021-22, the government had announced its intent to take up the privatisation of ........................state-run banks in the year.

16. Under the ECL (expected credit loss)-based loss provisioning model, loans will be classified as stage 1, 2 & 3, depending on their credit risk profile with stage ......................loans commanding higher provisions.

17. Third-party litigation funding startup ...................... has acquired a strategic minority stake in the Gujarat-based non-banking finance company (NBFC) Padmalaya Finserve.

18. Who currently heads the equity capital markets - including initial public offerings and block deals - for ICICI Securities?

19. Transactions of more than ............................. crore are under the scanner of the income-tax department that is probing several commission agents of insurance companies over alleged tax evasion.

20. Max Financial Services, the country’s largest non-bank private life insurance company, is the parent entity of Max Life Insurance in which ..................Bank is a co-promoter with 12.99 percent stake.

21. Mitsubishi Sumitomo Insurance owns .......................... percent in Max Financial Services.

22. Banks are relying more on costly market borrowings instead of deposits to meet credit demand and an analysis shows that market borrowings by banks doubled to Rs ........................crore in 2022.

23. A two-day nationwide strike has been called by the Union Forum of Bank Unions on January 30 and 31, 2023 demanding the resolution of various issues related to the 11th wage settlement of bank employees and a .............................-day working week in banks.

24. Debt-ridden Reliance Capital on Wednesday said the existing 'Promoter/Persons belonging to Promoter Group' has been reclassified as the '.................................' category.

25. The RBI has already launched pilots of ......................... in wholesale and retail segments last year and it is just a digital form of the physical currency and will have all its characteristics.

26. A majority of lenders to the twin Srei group companies undergoing bankruptcy proceedings agreed on Wednesday to set aside ₹824 crore from the proposed sale of the financial services firms in an ........................account.

27. NCLT's Mumbai bench stayed the second round of the challenge mechanism proposed by the Reliance Capital company's administrator ................................, while adding that it would pronounce an order in the week beginning January 30.

28. Which Bank alone opened 684 branches in the December quarter and aims to add more than 1,500 branches for the fiscal year 2022-23?

29. Citing lower share of banks in the Adani group’s total debt of around Rs 2 trillion, Indian banking exposure is less than ......................% of total group debt said by Global broking and research firm CLSA.

30. Credent Global Finance (CGF), a BSE-listed, Sebi-registered NBFC is in talks to raise Rs........................ crore under AIF to fund mid segment real estate state projects in tier 2 cities.

31. Dvara Holdings is contemplating a Rs ...........................crore fund to support ventures that focus on improving the financial wellness of low-income households in the world’s fifth largest economy, India.

32. The ports-to-energy conglomerate, helmed by Gautam Adani - one of the world's richest men, has come under attack from U.S. short-seller ................................, leading to a sharp fall in shares of group companies.

33. The government is likely to put on hold the Insurance Laws (Amendment) Bill, 2022, following demands from the industry for major changes, including dropping the ........................... provision, which allows insurers to undertake general and health insurance via a single entity.

34. The Reserve Bank of India allows for no more than ............................% of a bank's available eligible capital base to be exposed to any one group of connected companies.

35. Expressed in dollar terms, Foreign Currency Assets (FCA) includes the effect of appreciation or depreciation of non-US units like the ...................... held in the foreign exchange reserves.

36. Investments by private equity and venture capital funds declined by nearly a third to USD 54.2 billion in 2022, which was characterised by a '....................................' after consecutive years of surge.

37. Which Bank has put its Rs 2,077 crore loan to KSK Mahanadi Power on sale for the second time in less than six months, after the unsuccessful attempt in August last year?

38. Over six banks join Grant Thornton in legal fight against ............................ group, that was a massive corporate default that burst on the business world sometime in 2013—in the same manner as Gitanjali Gems and Niraav Modi (2018).

39. India's United Forum of Bank Unions on Saturday pushed back a previously planned two-day nationwide bank strike originally scheduled for January 30 and 31 to press for which of the following demands?

40. Strangely not much of noise is being heard from the Indian insurance sector on hiking the foreign direct investment (FDI) to 100 per cent from the current ........................ per cent as their budget wishlist.

41. The state-owned Punjab & Sind bank's total recovery and upgradation stood at Rs ..................... crore in the three quarters of the current financial year 2022-23.

42. The Sebi in September 2022 imposed a penalty of Rs 2 crore on Rana Kapoor, former chief executive of Yes Bank for misselling of At-1 bonds to retail investors and were offered to them as a '......................................' product with high safety features, a higher rate of return and a lock-in period of five years.

43. Standard Chartered Bank has announced ...................... as the head of human resources, for India and South Asia effective from January 2023.

44. India’s foreign exchange reserves increased by $1.727 billion to $.....................  in the week ended January 20, 2023, the Reserve Bank of India said.

45. Which company fell spectacularly after it was accused recently of fraud and stock manipulation by a small New York trading firm?