Exams › IBPS PO › General Awareness

______ banks received a go-ahead from their country's regulator to deal with the Clearing Corporation of India (CCIL) for settling all transactions.

1. British
2. Japanese
3. American
4. European

Correct answer: Japanese

Solution

Japanese banks received a regulatory go-ahead from Japan's FSA to deal with CCIL for settling transactions. The CCIL handles clearing and settlement for forex, government securities, and money market transactions in India. This was significant because the RBI's enhanced oversight norms had initially created issues for some foreign banks.

Related IBPS PO General Awareness questions

• Which bank is not in the part of bank merger process?
• The Reserve Bank of India had constituted an Internal Working Group (IWG) in June 2020 to review the extant ownership guidelines and corporate structure for Indian private sector banks. Refer to the statements given below and identify which od the following is/are the recommendations of this IWG, as per its report submitted in Nov 2020. i. Large corporate/induses may be allowed as promoters of banks only after necessary amendments to the Banking Regulation Act, 1949 and strengthening of the supervisory mechanism for large conglomerates, including consolidated supervision. ii. For Payments Banks intending to convert to a Small Finance Bank, track record of 3 years of experience as Payments Bank may be considered as sufficient. iii. The cap on promoters' stake in the long run (15 years) may be raised from the current level of 15 per cent to 26 per cent of the paid-up voting equity share capital of the bank.
• What is the current maximum deposit insurance limit per depositor under the Deposit Insurance and Credit Guarantee Corporation (DICGC) scheme?
• What is an Initial Coin Offering (ICO)?
• Which of the following bank has launched IndPay mobile app service?
• Which type of inter-bank borrowing is availed by banks to meet short-term liquidity needs, typically for one day (overnight)?

⚔️ Practice IBPS PO General Awareness free + battle 1v1 →