Banking, Finance & Economy Current Affairs Quiz -December 5, 2022
December 5, 2022 December 5, 2022
1. Recently, the RBI modified the current two-tiered structure for UCBs to?
[A] Single-Tier Framework
[B] Three-Tier Framework
[C] Four-Tier Framework
[D] No Change
Show Answer
Correct Answer: C [Four-Tier Framework]
Notes:
In order to meet regulatory needs, the Reserve Bank of India (RBI) changed the Framework of Categorization of Urban Co-operative Banks (UCBs).This RBI revision will apply to all primary (urban) cooperative banks with effect from December 1, 2022. The RBI amended the existing two-tiered framework to adopt the four-tiered regulatory framework with the objective of strengthening the financial soundness of the UCBs.
2. Which of the following became the first bank to launch STACK for real estate companies?
[A] ICICI Bank
[B] HDFC Bank
[C] Canara Bank
[D] BOI
Show Answer
Correct Answer: A [ICICI Bank]
Notes:
ICICI Bank Ltd. launched STACK for companies in the real estate sector to offer solutions to their banking requirements on a single platform. With this, ICICI Bank became the first bank to launch real estate-specific STACK in order to make life easier for real-estate companies. STACK is a combination of digital and physical solutions that enables various stakeholders in the real estate sector, viz., real estate investment trusts (REITs), builders, etc., to undertake banking transactions efficiently.
3. Which of the following organizations recently introduced India’s first passive tax saving fund?
[A] BNP Paribas AMC
[B] BOI AXA Investment
[C] IIFL Mutual Fund
[D] Aditya Birla Sun Life
Show Answer
Correct Answer: C [IIFL Mutual Fund]
Notes:
IIFL Mutual Fund launched IIFL Equity-Linked Savings Scheme (ELSS) Nifty 50 Tax Saver Index Fund (IN50).IIFL ELSS IN50 is India’s first passive tax saver fund and will be on sale through New Fund Offering (NFO).It was launched after the Securities and Exchange Board of India (SEBI) allowed fund houses to launch passive funds in May 2022.
4. Which of the company recently introduced India’s first truly zero-margin travel card?
[A] Trade Nation
[B] Libertex
[C] AVATRADE
[D] BookMyForex
Show Answer
Correct Answer: D [BookMyForex]
Notes:
BookMyForex.com launched the Interbank Rate Multi-Currency Forex Card. The Interbank Rate Multi-Currency Forex Card is India’s first true zero-markup travel card. It has been developed by BookMyForex in association with YES Bank and M2P FinTech and is powered by Visa. International travellers will be able to buy forex cards at interbank rates with zero added markup during regular bank hours. The exchange rate on the Forex Card will remain fixed and can be loaded with 14 different currencies.
5. Which of the following has agreed to a sustainability-linked and blue-debt facility with the Asian Development Bank (ADB)?
[A] Rajesh Exports
[B] ABIS Exports India Pvt. Ltd
[C] International Lace Trade Center
[D] Kiran Gems Pvt. Ltd
Show Answer
Correct Answer: B [ABIS Exports India Pvt. Ltd]
Notes:
ABIS Exports India Pvt. Ltd. entered into an agreement on a sustainability-linked and blue-debt facility with the Asian Development Bank (ADB). It is a non-convertible debenture worth USD 16 million (INR 130 crore) to enhance food security in India. It will assist in the construction of specialised microfish feed plants to increase feed efficiency and reduce water pollution. It will also support the training of 6,000 farmers in climate-resilient fish farming practises by providing technical assistance worth USD 500,000.
