Current affairs MCQs on International Banking

Current Affairs MCQs on International Banking with answers and brief explanations, tailored for CSEET (Company Secretary Executive Entrance Test) preparation

CSEET Current Affairs – International Banking (15 MCQs with Answers)

1. Which global bank collapsed in March 2023, triggering banking concerns across Europe?

A) Barclays Bank

B) Credit Suisse

C) HSBC

D) Deutsche Bank

Answer: B) Credit Suisse

Explanation: Credit Suisse collapsed and was later acquired by UBS under Swiss government intervention.

2. The term “Basel III” is related to:

A) Agricultural subsidies

B) Banking capital and risk management

C) Foreign trade rules

D) Cryptocurrency regulation

Answer: B) Banking capital and risk management

Explanation: Basel III norms are global standards set by the Basel Committee on Banking Supervision to strengthen bank capital.

3. The headquarters of the International Monetary Fund (IMF) is located in:

A) Geneva

B) Washington D.C.

C) London

D) Paris

Answer: B) Washington D.C.

4. The World Bank Group consists of how many institutions?

A) 3

B) 4

C) 5

D) 6

Answer: C) 5

Explanation: These include IBRD, IDA, IFC, MIGA, and ICSID.

5. Which Indian-origin banker became the CEO of Citigroup in 2023?

A) Nirmala Menon

B) Jane Fraser

C) Vikram Pandit

D) None (no Indian-origin CEO currently)

Answer: D) None

Explanation: Jane Fraser remains the CEO; Vikram Pandit, of Indian origin, was CEO earlier (2007–2012).

6. The New Development Bank (NDB), also known as BRICS Bank, has its headquarters in:

A) New Delhi

B) Shanghai

C) Johannesburg

D) Moscow

Answer: B) Shanghai

7. Which international institution provides “Special Drawing Rights (SDRs)” to member countries?

A) World Bank

B) IMF

C) Asian Development Bank

D) BRICS Bank

Answer: B) IMF

8. SWIFT, a key system in international banking, stands for:

A) Society for Worldwide Interbank Financial Telecommunication

B) System for Worldwide Integrated Financial Transfers

C) Secure Web-based International Financial Technology

D) None of the above

Answer: A) Society for Worldwide Interbank Financial Telecommunication

9. Which country introduced the concept of a Central Bank Digital Currency (CBDC) first?

A) China

B) USA

C) Japan

D) Sweden

Answer: A) China

Explanation: China’s Digital Yuan (e-CNY) was one of the world’s first major CBDCs.

10. The Bank for International Settlements (BIS) is headquartered in:

A) Basel, Switzerland

B) New York, USA

C) London, UK

D) Frankfurt, Germany

Answer: A) Basel, Switzerland

11. The Asian Development Bank (ADB) was established in:

A) 1956

B) 1966

C) 1971

D) 1985

Answer: B) 1966

Explanation: ADB promotes economic and social development in Asia-Pacific; headquartered in Manila, Philippines.

12. The term “Eurodollar” refers to:

A) Euro currency in EU nations

B) US dollars deposited in European banks

C) European currency used in the US

D) Digital Euro system

Answer: B) US dollars deposited in European banks

13. Which international body monitors global financial stability and systemic risk?

A) WTO

B) IMF

C) Financial Stability Board (FSB)

D) World Bank

Answer: C) Financial Stability Board (FSB)

14. The International Bank for Reconstruction and Development (IBRD) is also known as:

A) World Bank

B) IMF

C) ADB

D) OECD

Answer: A) World Bank

15. In 2024, which global bank announced its exit from retail banking operations in India?

A) HSBC

B) Barclays

C) Citibank

D) Standard Chartered

Answer: C) Citibank

Explanation: Citibank sold its retail business to Axis Bank as part of global restructuring.