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Banking Current Affairs

Banking / Economy Awareness · Current Banking Awareness

Overview

Banking current affairs cover recent policy, institutional and scheme developments; the method matters more than any single fact.

Key points

Track: RBI policy, new regulations, bank mergers or licences, payment innovations, government schemes, appointments.
Use official sources: RBI, Department of Financial Services, PIB, NPCI.
Write a dated one-line note with the background concept.
Compile monthly and revise weekly.
Cover the 6–12 months before the exam.

Explanation

Appointments and figures change — confirm from official releases.
Group items by theme (RBI, payments, schemes, institutions).
Practise dated MCQs to test recall.
In the last fortnight, revise only your compilations.

Step by step

Identify the institution, rule or instrument asked.
Recall its definition, year, limit or function from a table.
Eliminate options from similar institutions or older rules.

Examples

A new digital-payment feature → note the date, NPCI/RBI source and how it works.
A scheme expansion → note the ministry, target group and benefit.
An appointment → note the post and the appointing authority.

Traps and advanced points

Trap: Memorising unverified forwards.
Trap: Undated notes.
Trap: Ignoring background concepts.

Quick revision

Official source only.
Monthly compilation.
6–12 month window.

Practice MCQs

Which term-description pair is correctly matched for the concept “UPI”?
1. credit risk — Unified Payments Interface
2. MICR — Unified Payments Interface
3. UPI — international bank-capital/liquidity/risk standards developed by the Basel Committee
4. UPI — Unified Payments Interface
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Answer: (d) UPI — Unified Payments Interface. Instant account-to-account payment framework using interoperable identifiers/apps.
Which term-description pair is correctly matched for the concept “equity share”?
1. equity share — bank undertaking used in trade subject to stated documentary terms
2. equity share — ownership interest in a company
3. letter of credit — ownership interest in a company
4. mutual fund — ownership interest in a company
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Answer: (b) equity share — ownership interest in a company. Returns may come from price change and dividends; not a fixed repayment claim like debt.
Which term-description pair is correctly matched for the concept “term deposit”?
1. term deposit — Pension Fund Regulatory and Development Authority
2. Basel norms — deposit placed for a specified tenure
3. operational risk — deposit placed for a specified tenure
4. term deposit — deposit placed for a specified tenure
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Answer: (d) term deposit — deposit placed for a specified tenure. Interest and premature-withdrawal rules depend on bank terms.
In banking/finance, what does “KYC” refer to most accurately?
1. directed lending framework for specified sectors/categories
2. Know Your Customer
3. account used to hold securities in electronic form
4. access to useful and affordable formal financial services
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Answer: (b) Know Your Customer. Customer identification and due-diligence framework used to manage identity/AML risks.
In banking/finance, what does “balance sheet” refer to most accurately?
1. pooled investment vehicle managed according to a stated scheme mandate
2. External Benchmark Linked Rate
3. mechanisms used to absorb surplus liquidity from the banking system
4. statement of assets, liabilities and equity at a point in time
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Answer: (d) statement of assets, liabilities and equity at a point in time. It is a position statement, unlike an income statement over a period.