4th Week Banking + Fin + Econ + Business Flashcards
- Which organisation/bank has recently (in Nov ‘23) signed a USD 6.5 million senior secured
loan agreement with Greenway Grameen Infra Private Limited for the Greenway Carbon
Credits Gender Finance Project?
1) Asian Infrastructure Investment Bank
2) International Monetary Fund
3) United Nations Development Programme
4) Asian Development Bank
5) World Bank
Answer- 4) Asian Development Bank
Explanation:
The Asian Development Bank (ADB) and Greenway Grameen Infra Private Limited have signed a
USD 6.5 million senior secured loan agreement for the Greenway Carbon Credits Gender Finance
Project.
• The financing also includes a USD 3.25 million first-loss liquidity reserve from the Climate
Innovation and Development Fund (CIDF).
i. The project aims to facilitate the production and distribution of 1 million subsidized Greenway
Jumbo Stoves to rural households in Madhya Pradesh and Odisha.
ii. The improved cookstoves reduce household fuel consumption by 65%, smoke emissions by 70%,
and carbon dioxide(CO2) emissions by 22.9 million tons.
iii. Greenway will sell the carbon credits generated from the use of improved cookstoves to
international buyers.
- In November 2023, the Asian Development Bank (ADB) approved a loan package of USD
_____________ for Maharashtra Tertiary Care and Medical Education Sector Development Program.
1) 400 million
2) 500 million
3) 250 million
4) 300 million
5) 450 million
Answer- 2) 500 million
Explanation:
On November 23, 2023, the Asian Development Bank (ADB) approved a loan package of USD 500
million for Maharashtra Tertiary Care and Medical Education Sector Development Program
which envisages to improve access to quality and affordable tertiary health care and medical
education in Maharashtra.
i. Utilization of funds:
• The funding by ADB will be utilised towards the following priorities of the Program:
• Addressing remaining poverty and reducing inequalities
• Accelerating progress in gender equality
• Tackling climate change, building climate and disaster resilience, and enhancing
environmental sustainability
• Strengthening governance and institutional capacity
ii. The program aims to develop tertiary care and medical education infrastructure using the sector
development program (SDP) modality. It will also focus on quality improvement of this sector.
- Which company has recently (in Nov ‘23) signed a USD 125 million financing pact with Asian
Development Bank (ADB) to support financing in rural and peri-urban areas of India?
1) L&T Finance Limited
2) Mahindra and Mahindra Financial Services Limited
3) Shriram Finance Limited
4) Bajaj Finance Limited
5) Cholamandalam Investment and Finance Limited
Answer- 1) L&T Finance Limited
Explanation:
Mumbai, Maharashtra based L&T Finance Limited(LFT), a Non-Banking Financial Company (NBFC)
and a subsidiary of Larsen & Toubro Limited (L&T), signed a USD 125 million financing pact with
Asian Development Bank (ADB) to support financing in rural and peri-urban areas of India, especially
for women borrowers.
i. The funding comprises a loan of up to USD 125 million from ADB and an agreement to syndicate an
additional USD 125 million in co-financing from other development partners.
ii. 40% is designated for women borrowers and the remainder supporting farmers, MSMEs (Micro,
Small, and Medium Enterprises), and two-wheeled vehicle purchases.
- Which organisation/bank has recently (in Nov ‘23) signed an MoU with the Global Fund to
Fight AIDS, Tuberculosis (TB), & Malaria (the Global Fund) to tackle the impact of climate
Change on Health?
1) United Nations Framework Convention on Climate Change
2) World Health Organization
3) International Monetary Fund
4) World Bank
5) United Nations Environment Programme
Answer- 4) World Bank
Explanation:
On November 22, 2023, a new Memorandum of Understanding (MoU) was signed between the World
Bank (WB) and the Global Fund to Fight AIDS(Acquired Immune Deficiency Syndrome),
Tuberculosis(TB), and Malaria (the Global Fund) to improve their collaboration on climate change’s
impact on health.
Aim: To support more efficient, effective, and sustainable financing to improve health outcomes in the
face of climate change.
- Name the bank that has recently (in Nov ‘23) signed a Letter of Intent (LoI) with UK Export
Finance (UKEF) to establish a financing programme of up to 100 million Pounds.
1) Standard Chartered Bank India
2) DBS Bank India
3) HSBC India
4) CSB Bank India
5) Citibank India
Answer- 3) HSBC India
Explanation:
The Hong Kong and Shanghai Banking Corporation Limited, India (HSBC India) have signed a Letter
of Intent (LoI) with UK Export Finance (UKEF), the United Kingdom (UK)’s export credit agency, to
establish a financing programme of up to 100 million Pounds.
i. This programme will support Indian Micro, Small and Medium Enterprises (MSMEs) and corporates
for financing their imports from the UK.
ii. HSBC India and UKEF will collaborate to originate, structure, and extend financing and credit
facilities for Indian MSMEs.
- Name the bank that has recently (in Nov ‘23) partnered with Indraprastha Gas Limited (IGL)
to enable Digital Rupee Transactions in Delhi National Capital Region (NCR).
1) HDFC Bank
2) IDFC FIRST Bank
3) IndusInd Bank
4) ICICI Bank
5) YES Bank
Answer- 3) IndusInd Bank
Explanation:
IndusInd Bank Limited has partnered with Indraprastha Gas Limited (IGL) to promote Digital Rupee
(e₹), the Central Bank Digital Currency (CBDC) launched by the Reserve Bank of India (RBI).
• The collaboration aims to promote cashless transactions at IGL Compressed Natural Gas (CNG)
Stations in Delhi National Capital Region (NCR).
i. The customer can also make payment across all IGL stations by scanning any UPI Quick Response
(QR) Code using their Digital Rupee mobile application.
ii. This initiative offers a secure, inclusive, sustainable and efficient mode of digital transaction
iii. The process ultimately simplifies the banking experience of the customers.
- In November 2023, the Reserve Bank of India (RBI) superseded the board of directors of
_________ (Cooperative Bank) for 1 year amid poor governance standards of the latter.
1) Abhyudaya Cooperative Bank Ltd
2) Lalbaug Cooperative Bank Ltd
3) Cooperative Bank of Mehsana Ltd
4) Harij Nagrik Sahakari Bank Ltd
5) National Cooperative Bank Ltd
Answer- 1) Abhyudaya Cooperative Bank Ltd
Explanation:
On November 24, 2023, the Reserve Bank of India (RBI) in exercise of the powers conferred under
Section 36 AAA read with section 56 of the Banking Regulation (BR) Act, 1949 (As Applicable to Co-
operative Societies), has superseded the board of directors of Abhyudaya Cooperative Bank
Limited for 12 months (1 year) amid poor governance standards of the latter.
• In this regard, RBI appointed Satya Prakash Pathak, former Chief General Manager of State
Bank of India (SBI), as the administrator of the bank.
i. The RBI has also appointed a committee of advisors to assist the administrator. Its members are
• Venkatesh Hegde (former General Manager, SBI)
• Mahendra Chhajed (Chartered Accountant)
• Suhas Gokhale (former MD, COSMOS Co-operative Bank Limited).
- Which of the following banks has/have recently (in Nov ‘23) received monetary penalty by
the Reserve Bank of India (RBI) for non-compliance with some of its Directions?
1) Indian Overseas Bank
2) Bank of Baroda
3) Citibank
4) Both 1 & 2
5) All 1, 2 & 3
Answer- 5) All 1, 2 & 3
Explanation:
The Reserve Bank of India (RBI) has imposed a monetary penalty on three banks viz. Citibank N.A. (Rs 5 crore), Bank of Baroda/BOB(Rs 4.34 crore) and Indian Overseas Bank/IOB(Rs 1 crore) for non-compliance with some of its Directions.
• This will not affect any transaction or agreement entered into by the bank with its customers.
i. Penalty on Citibank N.A.: Rs 5 crore: It has been imposed by RBI in exercise of powers under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the BR Act.
ii. Penalty on BOB: Rs 4.34 crore: It has been imposed by RBI in exercise of powers vested in RBI conferred under the provisions of Section 47 A (1) (c) read with Sections 46 (4) (i) and 51(1) of BR Act, 1949.
iii. Penalty on IOB: Rs 1 Crore: It has been imposed by RBI in exercise of powers vested in RBI conferred under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of BR Act, 1949.
- Which company has recently (in Nov ‘23) partnered with U GRO Capital Limited to offer
holistic digital supply chain financing solutions to small businesses in India?
1) Visa
2) American Express
3) Mastercard
4) Capital One
5) Discover Card
Answer- 3) Mastercard
Explanation:
Mastercard Incorporated MA (Mastercard) has partnered with U GRO Capital Limited, a Non-
Banking Financial Company (NBFC), to offer holistic digital supply chain financing solutions to small
businesses in India.
i. This collaboration is in line with Mastercard’s announcement to get 1 billion people and 50 million
micro and small businesses, including 25 million female entrepreneurs into the digital economy by
2025.
ii. Under this partnership, short-term loans as a digital supply chain financing solution will be offered
to dealers/distributors, last-mile retailers, and other small merchants and women entrepreneurs.
- In November 2023, the Reserve Bank of India (RBI) updated its ‘alert list’ of unauthorised
forex trading platforms by adding 19 more entities, taking the total of Alert list to ____________.
1) 45
2) 59
3) 75
4) 60
5) 85
Answer- 3) 75
Explanation:
The Reserve Bank of India (RBI) has updated its ‘alert list’ of unauthorised forex trading platforms by
adding 19 more entities, taking the total to 75. List of 19 entities.
• These entities are neither authorised to deal in forex under the Foreign Exchange Management
Act (FEMA), 1999 nor to operate an electronic trading platform (ETP) for forex transactions
under the Electronic Trading Platforms (Reserve Bank) Directions, 2018.
i. The Alert List contains names of entities along with their websites link.
ii. The list also includes those entities who are indulged in promoting the unauthorised entities/ETPs
(through advertisements or claiming to be providing training/advisory services).
- Which organisation/bank has recently (in Nov ‘23) approved a USD 170 Million loan for the
modernization of water supply services in Kochi, Kerala?
1) Asian Infrastructure Investment Bank
2) International Monetary Fund
3) United Nations Development Programme
4) Asian Development Bank
5) World Bank
Answer- 4) Asian Development Bank
Explanation:
On November 24, 2023, the Asian Development Bank (ADB) approved a USD 170 Million loan for the
modernization of water supply services in Kochi, Kerala.
i. Aim:
• To improve urban living.
• To ensure clean water access.
• To bolster climate resilience.
ii. MoU includes upgrading five water treatment plants (325 Million Litres Per Day/MLD)) and constructing a new one (190 MLD).
iii. 700 km of pipes replaced with real-time monitoring for reduced water loss during distribution.
iv. Upgrading 146,000 water meters and implementing preventive maintenance through a performance-based contract.
- In November 2023, the National Payments Corporation of India (NPCI) has directed all
Third Party Application Providers (TPAP) and Payment Service Provider (PSP) banks to
deactivate all inactive Unified Payments Interface (UPI) IDs by __________.
1) 31st March 2023
2) 31st January 2023
3) 30th April 2023
4) 31st December 2023
5) 31st May 2023
Answer- 4) 31st December 2023
Explanation:
The National Payments Corporation of India (NPCI) has directed all Third Party Application Providers
(TPAP) and Payment Service Provider (PSP) banks to deactivate all Unified Payments Interface
(UPI) IDs that have remained inactive for a period of one year or more.
• This measure is to be implemented by December 31, 2023.
• This includes apps like Google Pay, Paytm, and PhonePe.
i. Aim: To streamline UPI ID usage, ensuring only actively utilized ones remain operational for
enhanced efficiency and security in the UPI ecosystem.
- Which company/organisation has recently (in Nov ‘23) become the first Indian depository
to hold 10 crore (100 million) active dematerialisation (demat) accounts?
1) Central Depository (India) Services Ltd
2) National Stock Exchange of India Ltd
3) National Securities Depository Ltd
4) Bombay Stock Exchange Ltd
5) Hedge Equities Ltd
Answer- 1) Central Depository (India) Services Ltd
Explanation:
Central Depository Services (India) Limited (CDSL) had become the first Indian depository to hold 10 crore(100 million) active dematerialisation (demat) accounts. CDSL attained this position by
surpassing the National Securities Depository Limited (NSDL).
i. CDSL is the largest and only listed depository of India. It is a Market Infrastructure Institution (MII).
ii. CDSL maintains and services demat accounts of investors or beneficial owners (BOs). These BOs are serviced by CDSL’s 580-plus depository participants.
- Which of the following points is/are “correct” with respect to the announcements made by
Securities and Exchange Board of India (SEBI) in its 203rd meeting in Mumbai, Maharashtra in
November 2023?
A) SEBI reduces minimum issue size from Rs 50 Lakh to Rs 25 Lakh for public issuance of Zero
Coupon Zero Principal (ZCZP) instruments.
B) SEBI has further approved to reduce minimum application size from Rs 2 Lakh to Rs10000
for public issuance of ZCZP by NPO on social stock exchange.
C) SEBI plans to introduce same day (T+0) settlement by March 2024 and Instantaneous
settlement 2025.
1) Only A
2) Only A & B
3) Only B & C
4) Only A & C
5) All A, B & C
Answer- 3) Only B & C
Explanation:
Madhabi Puri Buch, Chairman of Securities and Exchange Board of India (SEBI) chaired the 203rd
meeting of the SEBI which was held in Mumbai, Maharashtra on November 25, 2023. The SEBI Board
meeting announced key decisions related to NPO fundraising, regulations for index providers, AIFs
operations etc.
i. SEBI reduces minimum issue size from Rs 1 crore to Rs 50 Lakh for public issuance of Zero
Coupon Zero Principal (ZCZP) instruments.
ii. SEBI has further approved to reduce minimum application size from Rs 2 Lakh to Rs10000 for
public issuance of ZCZP by NPO on social stock exchange. It will help to expand participation of
subscribers including Retail.
iii. SEBI Board introduces flexibility for Social Stock Exchange(SSE) in order to give boost to fund
raising by Not for Profit Organisation (NPOs) on the SSE.
iv. Madhabi Puri Buch, Chairman of SEBI announced that SEBI would soon introduce a roadmap for
the same-day (T+0) settlement of trades by March 2024 which will later be followed by
instantaneous settlement by 2025.
- In November 2023, the Insurance Regulatory and Development Authority of India (IRDAI)
formed an 11-member task force under the chairmanship of ______________ to examine the impact
of the Digital Personal Data Protection (DPDP) Act of 2023 on the insurance sector.
1) Randip Singh Jagpal
2) Mayank Bathwal
3) Ramaswamy Narayanan
4) Siddhartha Mohanty
5) Neerja Kapur
Answer- 1) Randip Singh Jagpal
Explanation:
The Insurance Regulatory and Development Authority of India (IRDAI) formed an 11-member task
force to examine the impact of the Digital Personal Data Protection (DPDP) Act of 2023 on the
insurance sector.
i. The Chairperson of the task force will be Randip Singh Jagpal, Executive Director (Non-Life) at
IRDAI and Member of Stakeholders’ Committee.
• The task force will submit its report within 1 month of the order issuance.
ii. The Ministry of Law and Justice, Legislative Department notified the Digital Personal Data
Protection (DPDP) Act, 2023 which establishes a comprehensive framework for processing digital
personal data, balancing individual rights to data protection with the lawful processing needs.
• It includes a penalty clause for non-compliance with the provisions by data fiduciaries under
which penalties can be up to Rs 250 crore.
