October Banking 2021

Important For ALL Competitive

Banking Exams
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1. NPCI has partnered with which bank to launch ‘RuPay On-the-
Go’ contactless payments solutions?
A) Axis Bank
B) HDFC Bank
C) Yes Bank
D) Kotak Mahindra Bank

Ans-C
2. Which Bank recently (in Sep’21) approved to provide credit
support for ‘Yak Husbandry’ in Arunachal Pradesh?
A) SIDBI
B) State Bank of India
C) Punjab National Bank
D) NABARD
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Ans-D
3. Padmaja Chunduru, former MD & CEO of Indian Bank, has been
appointed as the new MD & CEO of which organisation?
A) SEBI MF
B) NSDL
C) SBI
D) LIC

Ans-B
She is succeeding GV Nageswara Rao, who was the previous MD &
CEO of NSDL.
4. Which Payment Bank recently (in Sept’21) joined hands with
Dairy-tech startup ‘Stellapps’ to enable cashless payment transfers to
small dairy farmers?
A) Paytm Payment Bank
B) Airtel Payment Bank
C) NSDL Payment Bank
D) Jio Payment Bank

Ans-B
5. Which bank was removed by RBI (in Sep’21) from its Prompt
Corrective Action (PCA) Framework?
A) Punjab National Bank
B) Central Bank of India
C) Yes Bank
D) Indian Overseas Bank

Ans-D
6. AU Small Finance Bank (SFB) has inked an MoU with NABARD
for rural development initiatives in which state?
A) Punjab
B) Rajasthan
C) Andhra Pradesh
D) Tamil Nadu
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Ans-B
7. Which company has recently acquired 100% stake in digital
lending startup CreditMate?
A) Facebook
B) ICICI Bank
C) State Bank of India
D) Paytm

Ans-D
8. As per RBI, Additional Factor Authentication (AFA) by OTP for
all recurring transactions above Rs. ……… is mandated?
A) Rs 2000
B) Rs 5000
C) Rs 10000
D) Rs 15000

Ans-B
9. In which year UPI was launched by the NPCI in India?
A) 2010
B) 2013
C) 2016
D) 2018

Ans-C
10. Which Bank recently (in Sept’21) launched ‘NAV-eCash Card’ in
partnership with the Indian Navy?
A) Canara Bank
B) State Bank of India
C) Union Bank of India
D) Punjab National Bank

Ans-B
11. Which Small Finance Bank (SFB) recently (in Oct’21) launched a
current Account named ‘Supreme’ for Non-Resident Indians (NRIs)?
A) Equitas SFB
B) ESAF SFB
C) Suryoday SFB
D)Capital SFB

Ans-B
12. Who is the MD of National Asset Reconstruction Company Ltd.
(NARCL)?
A) PM Nair
B) Ajit Doval
C) Urjit Patel
D) UK Sinha

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Ans-A
13. ‘Credit Guarantee Scheme for Subordinate Debt’ is aimed to
provide credit facility to which type of borrowers?
A) Street Vendors
B) Stressed MSMEs
C) Stressed Farmers
D) Fishermen

Ans-B
Credit Guarantee Scheme for Subordinate Debt’ was launched on 24th June,
2020 to provide credit facility to the promoters of stressed MSMEs, through
lending institutions. SMA-2 and NPA accounts who are eligible for
restructuring as per RBI guidelines are the beneficiaries.
The Government had earlier decided to extend this scheme for six months
from 31.03.2021 to 30.09.2021. Now it has been further extended till
31.03.2022.
14. Which fintech company has recently announced its entry into the
‘Buy Now Pay Later’ (BNPL) category with the launch of ‘postpe’?
A) PhonePe
B) BharatPe
C) Paytm
D) MobiKiwk

Ans-B
15. Which of the following became the first scheduled private sector
bank to collect direct, indirect taxes?
A) Citi Bank
B) Axis Bank
C) Federal Bank
D) Kotak Mahindra Bank

Ans-D
16. What is the minimum net owned fund requirement for a
company to operate as an Asset Reconstruction Company?
A) Rs 1 crore
B) Rs 2 crore
C) Rs 3 crore
D) Rs 4 crore
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Ans-B
17. The Moody’s Investor Service has recently revised the sovereign
rating outlook of India to _______.
A) Stable
B) Negative
C) Neutral
D) Prime

Ans-A
18. What is the estimated GDP growth rate of the Indian economy as
per the World Bank in the fiscal year 2021-22?
A) 7.2%
B) 9.1%
C) 7.5%
D) 8.3%

Ans-D
19. Fitch Ratings has projected India’s economic growth at
______________ for FY22.
A) 7.4%
B) 8.7%
C) 8.6%
D) 7.5%

Ans-B
20. Karnataka Vikas Grameena Bank has bagged two national
awards recently. Who is the sponsor Bank of Karnataka Vikas
Grameena Bank KVGB?
A) Canara Bank
B) Punjab National Bank
C) Federal Bank
D) Union Bank

Ans-A
Karnataka Vikas Grameena Bank (KVGB), sponsored by Canara
Bank, has bagged two national awards (‘APY Big Believers’ and
‘Leadership capital’) for significant
enrolment under the Atal Pension Yojana (APY) from the Pension
Fund Regulatory and Development Authority (PFRDA).
21. After RBI’s October Monetary Policy Committee Meeting, what
is the Repo rate?
A) 4.5 %
B) 4.25%
C) 4.00%
D) 3.75%
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Ans-C
Reverse repo rate remained unchanged at 3.5 per cent.
22. Which Bank recently (in Oct’ 21) extended its partnership with
‘Tata Consultancy Services’ to use the core banking software named
‘TCS BaNCS’ for another five years?
A) Punjab National Bank
B) Canara Bank
C) HDFC Bank
D) State bank of India

Ans-D
23. Name the Campaign that was recently (in Oct’21) launched by
‘Punjab National Bank’ under its customer outreach Programme.
A) Digi Samvad
B) 6S Campaign
C) Switch to PNB
D) Swavalamban Campaign

Ans-B
24. The IMPS fund transfer limit has been changed by RBI from Rs
2 lakh to?
A) Rs.1 lakh
B) Rs. 5 lakhs
C) Rs. 10 lakhs
D) Rs. 20 lakhs

Ans-B
25. Who is the author of the book ‘The Custodian of Trust – A
Banker’s Memoir’?
A) Arundhati Bhattacharya
B) Rajnish Kumar
C) Aditya Puri
D) Dinesh Kumar Khara

Ans-B
26. What is the abbreviation of DeFi, which was seen in the news
recently?
A) Decentralised Fibre
B) Decentralised Finance
C) Developmental Finance
D) Development Fibre
Ans-B
The Reserve Bank of India (RBI) is looking to warn on DeFi
(decentralised finance) applications and projects. As per media
reports, RBI has sought legal advice on their workings. India
doesn’t have any regulation to deal with cryptocurrencies as well as
DeFi, at present.
Defi is the financial ecosystem built on blockchain applications that
can used for any financial activity.
27. Who has been appointed as the new Chairman of the fintech
startup BharatPe?
A) Ashwini Kumar Tewari
B) Anshula Kant
C) Dinesh Kumar Khara
D) Rajnish Kumar

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Ans-D
28. Recently, the Reserve Bank of India has granted a banking
licence to _____________.
A) Janalakshmi Small Finance Bank
B) A U Small Finance Bank
C) Unity Small Finance Bank Ltd
D) Ujjivan Small Finance Bank

Ans-C
29. Which became the first Indian NBFC to launch instant Business
Loan on ‘WhatsApp’?
A) Tata Capital Financial Services
B) India Infoline Finance Limited
C) Shriram Transport Finance Limited
D) Bajaj Finance Limited

Ans-B
30. In October 2021, Bharti AXA Life Insurance launched a new
participating savings product named- ‘________’ to provide long
term financial stability to individuals.
A) Bharti AXA SEHAT
B) Bharti AXA Guaranteed Income
C) Bharti AXA Life Unnati
D) Bharti AXA REWARD

Ans-C
31. Which bank recently (in Oct’ 21) partnered with ‘Ezetap’ to offer
a new service app named ‘My Vyappar’ to Indian retail sector
businesses?
A) Axis Bank
B) Bandhan Bank
C) HDFC Bank
D) Punjab National Bank
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Ans-A
32. What is the theme for RBI’s fourth regulatory sandbox cohort?
A) MSME Lending
B) Retail Lensing
C) International Banking
D) Financial Frauds

Ans-D
33. In October 2021, which of the following bank has been
authorized by RBI to collect direct and indirect taxes?
A) Paytm payments bank
B) Suryoday Small Finance Bank
C) Axis bank
D) IndusInd bank

Ans-D
34. Name the newly appointed Chairman of Indian Bank’s
Association (IBA) for 2021-22.
A) Rajendra Mal Lodha
B) Adarsh Sein Anand
C) AK Goel
D) P. Sathasivam

Ans-C
A K Goel, managing director and chief executive (MD & CEO) of
UCO Bank has been elected as the chairman of Indian Bank’s
Association (IBA) for 2021-22.
35. Which Bank recently (in Oct’21) partnered with ‘Vested Finance’
under its new solution named ‘Vested Direct’ to Facilitate forex
transfers?
A) CSB Bank
B) DCB Bank
C) SBM Bank
D) IDFC FIRST Bank
Ans-C
36. Who recently (in Oct’21) got additional charge as the
Chairperson of Insolvency and Bankruptcy Board of India (IBBI)?
A) Bansi Lal Bha
B) Ashok Kumar Tandon
C) Navrang Saini
D) S. Sahoo

Ans-C
37. Which Indian banker has joined as the Chairman of BharatPe?
A) Arundhati Bhattacharya
B) Rajnish Kumar
C) Chanda Kochhar
D) Urjit Patel

Ans-B
38. Which organization recently (in Oct’21) authorised ‘Karur Vysya
Bank’ to collect direct taxes on behalf of the Central Board of Direct
Taxes (CBDT)?
A) Income Tax Department
B) Securities and Exchange Board of India
C) Reserve Bank of India
D) Ministry of Corporate Affairs

Ans-C
39. Which bank/institution conducted a study titled “Prospects for
Enhancing India Japan Trade Relations”?
A) State Bank of India
B) Reserve Bank of India
C) Exim Bank
D) NABARD

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Ans-C
40. Who has been appointed as the new Chairman of the Karnataka
Bank Ltd.?
A) Balakrishna Alse S
B) Keshav Krishnarao Desai
C) Pradeep Kumar Panja
D) Uma Shankar

Ans-C
41. SEBI has formed a four-member high powered advisory
committee on settlement orders and compounding of offences. Who
is the head of this committee?
A) PR Ramesh
B) Vijay C Daga
C) PK Malhotra
D) DN Raval

Ans-B (Retired judge of High Court of Bombay)

42. Name the MD & CEO of the Axis Bank, whose re-appointment to
the post has recently been approved by RBI.
A) Amitabh Chaudhry
B) Sandeep Bakhshi
C) Deepak Parekh
D) Rana Kapoor

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Ans-A
43. What amount of penalty has been imposed by RBI on SBI for
non-compliance of RBI directives?
A) Rs 5 crore
B) Rs 4 crore
C) Rs 3 crore
D) Rs 1 crore

Ans-D
44. In October 2021, The Central Government Kept the interest rates
on ‘Small Savings Schemes’ (SSS) unchanged for Q-FY22. what is
the interest rate allocated for the ‘Sukanya Samriddhi Yojana
account’?
A) 7.6%
B) 7.1%
C) 6.8%
D) 7.4%
Ans-A
45. Which insurance company recently (in Oct’21) introduced the
“Saral Bachat Bima Plan”?
A) Life Insurance Corporation of India
B) Birla Sun Life Insurance
C) IndiaFirst Life Insurance
D) Canara HSBC Oriental Bank of Commerce Life Insurance

Ans-C
46. RBI recently (in Oct’21) approved the appointment of Pradeep
Kumar Panja as the part-time non-executive Chairman of which
Bank?
A) Lakshmi Vilas Bank
B) Karur Vysya Bank
C) Karnataka Bank
D) Punjab National Bank

Ans-C
47. Which department has launched the digital bonds named “ePLI
bond”?
A) Department of Telecom
B) Department of Posts
C) Department of Income Tax
D) Department of Biotechnology

Ans-B
48. Which of the following British multinational banking and
financial services company has got a penalty of Rs 1.95 crore by
RBI?
A) Standard Chartered Bank
B) Citigroup
C) Deutsche Bank
D) Yes Group

Ans-A
49. NABSanrakshan is a wholly-owned subsidiary of which
organisation?
A) SIDBI
B) NABARD
C) RBI
D) SEBI

Ans-B
50. Which company has launched the NTS platform for tokenisation
of cards?
A) RBI
B) Google Pay
C) State Bank of India
D) NPCI
Ans-D
The National Payments Corporation of India (NPCI) has launched
NPCI Tokenization system (NTS) to further enhance the safety of
customers and provide a seamless shopping experience to
consumers.
 The NPCI Tokenization System (NTS) will support the
tokenisation of RuPay cards, to provide an alternate for storing
card details with merchants.
51. Centrum-BharatPe consortium named ‘Unity’ was issued which
category license by the Reserve Bank of India?
A) Private Bank
B) Small Finance Bank
C) Payment Bank
D) Local Area Bank

Ans-B
The consortium will take over the assets and liabilities of the
strssed Punjab and Maharashtra Co-operative (PMC) Bank.
52. RBI has recently imposed Rs 1 crore monetary penalty on which
payments bank for violating norms under Section 26 (2) of the
Payment and Settlement Systems Act, 2007?
A) Jio Payments Bank
B) Airtel Payments Bank
C) Aditya Birla Payments Bank
D) Paytm Payments Bank

Ans-D
53. Bharti AXA Life Insurance has entered into a Bancassurance
Partnership with which Small Finance Bank?
A) Jana Small Finance Bank
B) Suryoday Small Finance Bank
C) Equitas Small Finance Bank
D) Utkarsh Small Finance Bank

Ans-D
54. Which Bank with Mastercard, DFC, USAID, has launched a $100
Million Credit Facility for Indian MSMEs?
A) HDFC Bank
B) RBL Bank
C) Axis Bank
D) ICICI Bank

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Ans-A
55. Which Bank recently (n Oct’21) partnered with ‘Pine Labs’ to
expand its point-of-sale (PoS) Services?
A) IndusInd Bank
B) Axis Bank
C) HDFC Bank
D) Kotak Mahindra Bank

Ans-D
56. Name the Bank that recently (in Oct’21) partnered with
‘ITILITE’ to offer commercial Credit Cards for travel expenses to
businesses.
A) IndusInd Bank
B) Axis Bank
C) HDFC Bank
D) ICICI Bank
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Ans-D (ICICI Bank)

57. Who among the following is recently appointed as Managing
Director and Group CEO of ICRA?
A) Ramnath Krishnan
B) Neera Tanden
C) R. K. Laxman
D) Chanda Kocchar

Ans-A
58. Which Small Finance Bank (SFB) recently (in Oct’21) launched
‘QR (Quick Response) Code Sound Box’ for payment alerts?
A) Janalakshmi SFB
B) AU SFB
C) Equitas SFB
D) Ujjivan SFB

Ans-B
59. Which Bank recently (in Oct’21) signed an MoU with Centre for
Development of Advanced Computing (C-DAC) to launch an
initiative on Cyber Security awareness?
A) Axis Bank
B) Citibank
C) Union Bank of India
D) Punjab National Bank

Ans-C
60. Which of the following bank has crossed the market
capitalisation of Hindustan Unilever to become the fifth-largest
company by market value?
A) ICICI Bank
B) HDFC Bank
C) Yes Bank
D) Axis Bank

Ans-A
61. Identify the bank that partnered with IndiGo to launch a Co-
branded Credit Card called – ‘Ka-ching’.
A) Kotak Mahindra Bank
B) Industrial Bank of Korea
C) Federal Bank
D) Karur Vysya Bank

Ans-A
62. As per recent RBI rules, what is the maximum IPO funding per
borrower, by NBFCs?
A) Rs 25 lakh
B) Rs 50 lakh
C) Rs 1 Crore
D) Rs 5 Crore
Ans-C
The Reserve Bank of India issued a new set of rules for non-banking
finance companies (NBFCs). It includes limiting the lending to IPO
investors to Rs 1 crore per borrower from April 1, 2022.
At present some high-net-worth individuals have been borrowing in
excess of Rs 100 crore, from NBFCs for investing in IPOs. These curbs
are a part of RBI’s “scale-based regulations”, which aim to mitigate
systemic risks.
63. HDFC Bank is acquiring what percent share in HDFC ERGO?
A) 8.99%
B) 7.99%
C) 6.99%
D) 4.99%

Ans-D
64. With which payments bank, HDFC Ltd has partnered to offer
Home Loans to promote affordable housing?
A) Paytm Payments Bank
B) Airtel Payments Bank
C) India Post Payments Bank
D) Fino Payments Bank

Ans-C
65. Which Insurance Company recently (in Oct’21) partnered with
‘Google Pay’ to enable the user to buy its health insurance on the
Google Pay app?
A) SBI General Insurance
B) New India Assurance
C) Life Insurance Corporation
D) HDFC ERGO General Insurance

Ans-A
66. In October 2021, YES Bank launched a new category of value-
added family savings accounts named- ‘_______’ to manage the
income of varying income families.
A) YES Family
B) Mange ‘N’ Save
C) Millennium savings
D) YES Shield

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Ans-A
67. RBI has approved the appointment of Baldev Prakash as
Managing Director and CEO of which bank?
A) BoB Bank
B) PNB Bank
C) ICICI Bank
D) J&K Bank

Ans-D
68. Which Bank was awarded (in Oct’21) for being the ‘Top
Organization with Innovation HR Practices’ at the 19th edition of the
Asian Pacific HRM Congress?
A) Kotak Mahindra Bank
B) HDFC Bank
C) State Bank of India
D) Karnataka Bank

Ans-D
69. Government has appointed veteran banker K V Kamath as
chairperson of_____________.
A) NABARD
B) SIDBI
C) NIIT
D) NaBFID

Ans-D
NaBFID - National Bank for Financing Infrastructure and
Development
70. Shaktikanta Das is the _________ Governor of RBI?
A) 21st
B) 22nd
C) 23rd
D) 25th
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Ans-D
71. Which Bank recently (in Oct’21) partnered with ‘NPCI’ to
launch its cards on the RuPay network
A) Kotak Mahindra Bank
B) IDFC Bank
C) IndusInd Bank
D) Equitas Small Finance Bank

Ans-A
72. Which Insurance Company recently (in October 2021) became
the 1st life insurer to join the Account Aggregator (AA) framework?
A) Tata AIA Life Insurance
B) Max Life Insurance
C) Aegon Life Insurance
D) SBI Life Insurance

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Ans-B