By how much was the Staff Welfare Fund of Public Sector Banks enhanced in August 2024?
- A.25%
- B.40%
- C.56%
- D.75%
Correct answer
Explanation
The correct answer is 56%. The Staff Welfare Fund is money that public sector banks set aside for the welfare of working and retired staff, covering health expenses, canteen subsidies, sports and cultural activities and educational help. The Finance Ministry listed its 56% increase in August 2024 among the measures taken for bank employees.
The other percentages are distractors. The same list includes other points worth knowing: PSBs recruited about 4,82,800 employees from FY 2014-15 to FY 2025-26, with recruitment doubling in the last three years; as of 1 July 2026, 95.84% of officer posts and 92% of subordinate/award staff posts were filled; and negotiations on the next Bipartite Settlement began early, aiming to finish before the November 2027 deadline. Bipartite settlements are wage agreements between bank managements and unions.
Read the full article: Government Urges PSB and RRB Staff to Call Off Bank Strikes
Practice Questions
Bank unions have called strikes in September–October 2026 mainly over which demand that remains pending?
- A.Withdrawal of the Performance Linked Incentive scheme
- B.Implementation of five-day banking
- C.Restoration of the Old Pension Scheme
- D.Merger of Regional Rural Banks
Show answer
The United Forum of Bank Unions and some other unions in public sector banks, supported by Regional Rural Banks, raised two principal demands: a five-day working week for banks and withdrawal of the Performance Linked Incentive scheme.
Read the full explanation →In which year were the 2nd and 4th Saturdays of every month declared holidays for Public Sector Banks?
- A.2012
- B.2015
- C.2019
- D.2020
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In its appeal of 21 September 2026, the Ministry of Finance recalled that the Government, in the interest of bank employees, declared the 2nd and 4th Saturdays of every month as holidays for public sector banks in 2015.
Read the full explanation →On which stock exchanges is the equity share capital of the acquirer listed?
- A.Only the National Stock Exchange of India
- B.Only the Bombay Stock Exchange
- C.The Bombay Stock Exchange and the National Stock Exchange of India
- D.The Calcutta Stock Exchange and the Bombay Stock Exchange
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Kotak Mahindra Bank is described as a scheduled commercial bank licensed by the central bank to carry on banking business, with its equity share capital listed on both these exchanges.
Read the full explanation →Which regulator approved the acquisition of a part of Deutsche Bank India business by Kotak Mahindra Bank?
- A.Securities and Exchange Board of India
- B.Reserve Bank of India
- C.Competition Commission of India
- D.Insurance Regulatory and Development Authority of India
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The competition regulator cleared the proposed combination, which covers both the purchase of the target business and the related referral arrangements between affiliates of the two sides.
Read the full explanation →Which business of Deutsche Bank in India is being acquired by Kotak Mahindra Bank?
- A.Corporate and investment banking
- B.Retail, private banking and wealth management
- C.Custody and fund accounting
- D.Treasury and foreign exchange dealing room
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The target business is precisely the retail banking and private banking segment together with the wealth management arm that the seller runs through its branches in India, and it is moving as a going concern on a slump sale basis.
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