ECONOMY Flashcards
(65 cards)
Which committee recommended the Economic Capital
Framework (ECF) advising the Reserve Bank of India to
maintain a Contingent Risk Buffer (CRB) between 5.5%
and 6.5% of its balance sheet?
Bimal Jalan Committee
As of 2024, who is serving as the Governor of the
Reserve Bank of India (RBI)?
Shaktikanta Das (incumbent governor of RBI)
Under which section of the Reserve Bank of India Act,
1934, does the RBI transfer its surplus, defined as the
excess of income over expenditure, to the government
as dividends?
S.47
Which formula best describes the calculation of “surplus”
in financial terms?
Surplus = Total Income - Total Expenditure
When was the Reserve Bank of India (RBI) nationalised?
1 Jan,1949
when was RBI est ?
April 1, 1935
RBI statutory background
Reserve Bank of India Act,
1934
HQ of RBI
Mumbai
Governor of the Reserve Bank of
India (1997–2003)
bimal jalan
Which authority is the adjudicating body for corporate
insolvency resolution under the IBC, 2016?
The National Company Law Tribunal (NCLT)
What is the duration of the legal action prohibition
period during the insolvency resolution process under
the IBC, 2016?
180 days
What term is used to describe the situation where an
entity’s liabilities exceed its assets and it cannot meet
its immediate financial obligations?
Insolvency
Who appoints the Chairperson and full-time members of
the Insolvency and Bankruptcy Board of India (IBBI)?
The Govt of India
What is the full form of UNCITRAL, as referred to in the
context of the Cross-Border Insolvency Framework?
United Nations Commission on International Trade
Law
______is the regulatory
body overseeing the implementation of the IBC. It frames regulations and guidelines for
insolvency professionals and processes.
The Insolvency and Bankruptcy Board of India (IBBI)
As of FY24, creditors have recovered approximately_____ from 947 financially stressed companies,
which is about 32.1% of their claims since the inception of the IBC in 2016.
₹3.36 lakh crore
The average recovery rate is projected to remain between _____of claims in FY25.
30-35%
The National Company Law
Tribunal (NCLT) approved a
record ______ resolution plans
in FY24
269
Since the inception of the IBC, around _____ of the 5,467 closed Corporate Insolvency Resolution Processes (CIRPs) have
ended in liquidation, while only _____ resulted in resolution plans.
45%,17%
The IBC has facilitated the resolution of 891 cases involving loan defaults worth ₹10 lakh crore till December 2023. This
has led to the recovery of ___ , which is 32% of the total admitted claims by banks and financial institutions.
₹3.2 lakh crore
The Insolvency and Bankruptcy Code (IBC) was
enacted by the Indian Parliament in
2016
Insolvency and Bankruptcy Code (IBC), 2016 replaces multiple laws governing insolvency, such as
the Sick Industrial Companies
Act, 1985 (SICA), and the Presidency Towns Insolvency Act, 1909
How much gold did the Reserve Bank of India repatriate
from the UK to its domestic vaults recently?
100 tonnes
Which mining area in India is known as one of the world’s
oldest and deepest gold mines?
kolar gold fields located in the
Kolar district of Karnataka . Karnataka is
responsible for about 80% of the nation’s total gold
output.
