14 th June, 2018 Current Affairs Questions for Bank (IBPS Clerk, IBPS PO, RBI Grade-B, SBI Clerk & SBI PO) and Railways Exams

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2 14 th June, 2018 Current Affairs Questions for Bank (IBPS Clerk, IBPS PO, RBI Grade-B, SBI Clerk & SBI PO) and Railways Exams June GA Quiz 14 Directions: Study the following questions carefully and answer the questions given below. 1. Name the bank which was recently hit by cyber-attack, hackers steal USD 10 million. A. Central Bank of Cuba B. Central Bank of Argentina C. Central Bank of Brazil D. Central Bank of Chile E. None of these 2. Which of the following banks has received the National Payments Excellence Award 2017 by NPCI? A. Abhyudaya Bank B. Dena BankV C. Kotak Mahindra Bank D. SVC Bank E. None of these 3. Which of the following banks has recently tied up with Aditya Birla Health to provide insurance services to customers? A. Bank of Baroda B. Karur Vysya Bank C. ICICI Bank D. Syndicate Bank E. None of these 4. Former RBI deputy governor H R Khan was recently appointed as the chairman of which bank? A. RBL Bank B. Bandhan Bank C. Allahabad Bank D. Catholic Syrian Bank E. None of these

3 5. Which of the following banks has stated that a Public Credit Registry (PCR) will be set up containing information on all borrowers to ensure financial stability? A. State Bank of India B. Reserve Bank of India C. ICICI Bank D. Bank of Baroda E. None of these 6. Which of the following banks has recently become the first corporate bank to make use of UK's Open Banking regime? A. Axis Bank B. OCBC Bank C. CTBC Bank D. Citi Bank E. None of these 7. Bharat Financial Inclusion Ltd. Has recently received a no-objection nod for its merger with. A. YES Bank B. IDBI Bank C. Induslnd Bank D. Federal Bank E. None of these 8. Name the bank which has recently increased its Marginal Cost- Based Lending Rate (MCLR) by 5 basis points. A. Union Bank of India B. Bank of Baroda C. Allahabad Bank D. UCO Bank E. None of these 9. Which of the following banks has recently received RBI's approval for merger of Capital First, Capital First Home Finance and Capital First Securities with the company? A. Dena Bank B.Indian Overseas Bank C. Syndicate Bank D. IDFC Bank E. None of these 10. Reserve Bank of India (RBI) has recently launched the 2018 Financial Literacy Week with the theme of. A. Digital Safety B. Your liability C. Banking Rules D. Customer Protection E. None of these

4 Correct Answers: D D B B B D C B D D Explanations: 1. Who: Central Bank of Chile What: hit by cyber-attack, hackers steal USD 10 million When: published on 13th June 2018 Shares in the Bank of Chile were down after it confirmed hackers had siphoned off $10 million of its funds, mainly to Hong Kong, though the country s second-largest commercial bank said no client accounts had been impacted. The cyber heist is the latest in a string of such attacks, including one in May in Mexico in which thieves used phantom orders and fake accounts to steal hundreds of millions of Mexican pesos out of the country s banks, including Banorte Who: SVC Bank What: received the National Payments Excellence Award 2017 by NPCI When: published on 11th June 2018 For the complete information kindly read the given lines:

5 SVC Bank received the National Payments Excellence Award 2017 awarded by National Payments Corporation of India (NPCI). The award is the highest recognition in the industry for exceptional performance in payments system. SVC Co-operative Bank received the award for its outstanding performance in NFS ATM Network and CTS. 3. Who: Karur Vysya Bank What: tied up with Aditya Birla Health to provide insurance services to customers When: published on 5th June 2018 Private sector Karur Vysya Bank has recently entered into a bancassurance partnership with Aditya Birla Health to provide insurance services to customers. The lender said it has already partnered with Birla Sunlife Insurance Co Ltd for providing life insurance products to its customers Who: Former RBI deputy governor H R Khan What: was appointed as the chairman of Bandhan Bank When: published on 5th June 2018

6 Bandhan Bank has appointed H R Khan, a former RBI deputy governor, as nonexecutive chairman. The board of directors of the bank at its meeting held today appointed Harun Rasid Khan as the non-executive, part time chairman of the bank, Bandhan Bank said in a filing to BSE. Khan's appointment will be for a period of three years with effect from June 5, 2018 or till the expiry of his term as an independent director whichever is earlier, the bank said in a regulatory filing. Khan will be the independent director of the bank at a remuneration of Rs 24 lakh per annum subject to RBI and other approvals Who: Reserve Bank of India What: stated that a Public Credit Registry (PCR) will be set up containing information on all borrowers to ensure financial stability When: published on 6th June 2018 RBI in a bid to check loan defaults, RBI said today that a Public Credit Registry (PCR) will be set up containing information on all borrowers to ensure financial stability. Following a report by Yeshwant M Deosthalee headed High Level Task Force, RBI said it has considered the recommendations and decided to set up a PCR in a modular and phased manner.

7 An Implementation Task Force (ITF) is being constituted to help design and undertake logistics for the next steps in setting up of the PCR, it said after the second bi-monthly monetary policy review of Who: Citi Bank What: become the first corporate bank to make use of UK's Open Banking regime When: published on 4th June 2018 Citi has become the first corporate bank to enroll with the UK Open Banking Directory as a Payment Initiation Service Provider (PISP), with a view to meeting treasurer's evolving needs for easy access to payment data without the need to build applications or interfaces to connect to proprietary banking portals. Open Banking in the UK, which went live in January 2018, requires the nine largest UK banks to publish open APIs, enabling regulated third party providers to access bank accounts securely and with account holder consent. While much of the focus on Open Banking has centred around data sharing with fintech startups, Citi is taking advantage of the framework to streamline the business of collecting and making payments on behalf of its business customers

8 Who: Bharat Financial Inclusion Ltd. What: has received a no-objection nod for its merger with Induslnd Bank When: published on 5th June 2018 Micro-lender Bharat Financial Inclusion Ltd (BFIL) said it has received a no-objection nod from stock exchanges for its merger with private sector lender IndusInd Bank. BFIL (earlier SKS Microfinance) said it received no-objection from the NSE on June 1 and from BSE on June 4 for its proposed merger with IndusInd Bank following the feedback from markets regulator SEBI. The no-objection is based on draft scheme and other documents submitted by the company, it added Who: Bank of Baroda What: has increased its Marginal Cost-Based Lending Rate (MCLR) by 5 basis points When: published on 5th June 2018 Bank of Baroda said it will up its marginal cost of funds-based lending rates (MCLR) across tenors by five basis points with effect from June 7. The public sector bank s one-year MCLR will be 5 basis points higher at 8.45 per cent against 8.40 per cent now. One basis point equals one-hundredth of a percentage point. For all other tenors overnight, one month, three months and six months the new rates will be 7.95 per cent, 8 per cent, 8.10 per cent and 8.30 per cent, respectively.

9 9. Who: IDFC Bank What: received RBI's approval for merger of Capital First, Capital First Home Finance and Capital First Securities with the company When: published on 6th June 2018 IDFC Bank has received the RBI s approval for merger of Capital First, Capital First Home Finance and Capital First Securities with the company. The Reserve Bank of India has, via its letter dated June 4, 2018, conveyed its No Objection for the voluntary amalgamation of Capital First Ltd, Capital First Home Finance Ltd and Capital First Securities Ltd with IDFC Bank, IDFC Bank said in a regulatory filing. Earlier in January, the company said its board of directors had approved amalgamation of the three entities with IDFC Bank Ltd. The amalgamation is subject to the receipt of approval from the respective shareholders and creditors of the companies, the National Company Law Tribunal, and other statutory and regulatory approvals, it added Who: Reserve Bank of India (RBI) What: has launched the 2018 Financial Literacy Week with the theme of Customer Protection

10 When: published on 5th June 2018 Regional office of Reserve Bank of India has inaugurated Financial Literacy Week under the theme Customer Protection. Regional Director RBI, Thomas Mathew, General Manager RBI Ashok Kumar Mattu, Chairman & CEO J&K Bank Parvez Ahmad, DGM NABARD Geeta Singh besides other senior officers of RBI and other banks were present on the occasion. During the inaugural programme, Regional Director said to fulfill the objective of financial literacy for financial inclusion, this year, we have selected the themes of KYC (know your customer), exercising credit discipline, grievance redressal and going digital as part of the financial literacy week.

11 Top 10 News of the Day : 14 th June, Reserve Bank of India (RBI) has launched the 2018 Financial Literacy Week with the theme of Customer Protection. (Current Affairs Questions on Economics 14 th June 2018) Regional office of Reserve Bank of India has inaugurated Financial Literacy Week under the theme Customer Protection. Regional Director RBI, Thomas Mathew, General Manager RBI Ashok Kumar Mattu, Chairman & CEO J&K Bank Parvez Ahmad, DGM NABARD Geeta Singh besides other senior officers of RBI and other banks were present on the occasion. During the inaugural programme, Regional Director said to fulfill the objective of financial literacy for financial inclusion, this year, we have selected the themes of KYC (know your customer), exercising credit discipline, grievance redressal and going digital as part of the financial literacy week. 2. IDFC Bank received RBI's approval for merger of Capital First, Capital First Home Finance and Capital First Securities with the company. (Latest Current Affairs 14 th June 2018) IDFC Bank has received the RBI s approval for merger of Capital First, Capital First Home Finance and Capital First Securities with the company. The Reserve Bank of India has, via its letter dated June 4, 2018, conveyed its No Objection for the voluntary amalgamation of Capital First Ltd, Capital First Home Finance Ltd and Capital First Securities Ltd with IDFC Bank, IDFC Bank said in a regulatory filing. Earlier in January, the company said its board of directors had approved amalgamation of the three entities with IDFC Bank Ltd. The amalgamation is subject to the receipt of approval from the respective shareholders and creditors of the companies, the National Company Law Tribunal, and other statutory and regulatory approvals, it added.

12 3. Bank of Baroda has increased its Marginal Cost-Based Lending Rate (MCLR) by 5 basis points. (Top Economics Current Affairs Questions 14 th June 2018) Bank of Baroda said it will up its marginal cost of funds-based lending rates (MCLR) across tenors by five basis points with effect from June 7. The public sector bank s one-year MCLR will be 5 basis points higher at 8.45 per cent against 8.40 per cent now. One basis point equals one-hundredth of a percentage point. For all other tenors overnight, one month, three months and six months the new rates will be 7.95 per cent, 8 per cent, 8.10 per cent and 8.30 per cent, respectively. 4. Bharat Financial Inclusion Ltd. has received a no-objection nod for its merger with Induslnd Bank. (Most Important Current Affairs Questions 14 th June 2018) Micro-lender Bharat Financial Inclusion Ltd (BFIL) said it has received a no-objection nod from stock exchanges for its merger with private sector lender IndusInd Bank. BFIL (earlier SKS Microfinance) said it received no-objection from the NSE on June 1 and from BSE on June 4 for its proposed merger with IndusInd Bank following the feedback from markets regulator SEBI. The no-objection is based on draft scheme and other documents submitted by the company, it added. 5. Citi Bank has become the first corporate bank to make use of UK's Open Banking regime. (Top Current Affairs MCQs 14 th June 2018) Citi has become the first corporate bank to enroll with the UK Open Banking Directory as a Payment Initiation Service Provider (PISP), with a view to meeting treasurer's evolving needs for easy access to payment data without the need to build applications or interfaces to connect to proprietary banking portals.

13 Open Banking in the UK, which went live in January 2018, requires the nine largest UK banks to publish open APIs, enabling regulated third party providers to access bank accounts securely and with account holder consent. While much of the focus on Open Banking has centred around data sharing with fintech startups, Citi is taking advantage of the framework to streamline the business of collecting and making payments on behalf of its business customers. 6. Reserve Bank of India stated that a Public Credit Registry (PCR) will be set up containing information on all borrowers to ensure financial stability. (14 th June 2018 Current Affairs Questions) RBI in a bid to check loan defaults, RBI said today that a Public Credit Registry (PCR) will be set up containing information on all borrowers to ensure financial stability. Following a report by Yeshwant M Deosthalee headed High Level Task Force, RBI said it has considered the recommendations and decided to set up a PCR in a modular and phased manner. An Implementation Task Force (ITF) is being constituted to help design and undertake logistics for the next steps in setting up of the PCR, it said after the second bi-monthly monetary policy review of Former RBI deputy governor H R Khan was appointed as the chairman of Bandhan Bank. (Current Affairs in Short 14 th June 2018) Bandhan Bank has appointed H R Khan, a former RBI deputy governor, as nonexecutive chairman. The board of directors of the bank at its meeting held today appointed Harun Rasid Khan as the non-executive, part time chairman of the bank, Bandhan Bank said in a filing to BSE. Khan's appointment will be for a period of three years with effect from June 5, 2018 or till the expiry of his term as an independent director whichever is earlier, the bank said in a regulatory filing.

14 Khan will be the independent director of the bank at a remuneration of Rs 24 lakh per annum subject to RBI and other approvals. 8. Karur Vysya Bank tied up with Aditya Birla Health to provide insurance services to customers. (Current Affairs Capsule 14 th June 2018) Private sector Karur Vysya Bank has recently entered into a bancassurance partnership with Aditya Birla Health to provide insurance services to customers. The lender said it has already partnered with Birla Sunlife Insurance Co Ltd for providing life insurance products to its customers. 9. SVC Bank has received the National Payments Excellence Award 2017 by NPCI. (June 14 th 2018 Objective Current Affairs) SVC Bank received the National Payments Excellence Award 2017 awarded by National Payments Corporation of India (NPCI). The award is the highest recognition in the industry for exceptional performance in payments system. SVC Co-operative Bank received the award for its outstanding performance in NFS ATM Network and CTS. 10. Central Bank of Chile hit by cyber-attack, hackers steal USD 10 million. (Important Current Affairs Quiz 14 th June 2018) Shares in the Bank of Chile were down after it confirmed hackers had siphoned off $10 million of its funds, mainly to Hong Kong, though the country s second-largest commercial bank said no client accounts had been impacted. The cyber heist is the latest in a string of such attacks, including one in May in Mexico in which thieves used phantom orders and fake accounts to steal hundreds of millions of Mexican pesos out of the country s banks, including Banorte.

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