Banking, Finance & Economy Current Affairs Quiz -November 24, 2022
November 24, 2022 November 24, 2022
1. Which public sector bank recently collaborated with Tata Power Solar Systems Limited (TPSSL) to provide rooftop solar financing to the MSME sector?
[A] SBI
[B] BOB
[C] Canara Bank
[D] UBI
Show Answer
Correct Answer: D [UBI]
Notes:
The Union Bank of India (UBI) partnered with Tata Power Solar Systems Limited (TPSSL) to assist the MSME sector with rooftop solar financing. The joint initiative will be implemented under the Union Solar Scheme of the UBI. The primary objective of the partnership is to improve access to green energy and to make MSMEs cost-effective. The solar EPC (engineering, procurement, and construction) services will be provided by the TPSSL.
2. DSP Investment Managers just purchased what proportion of Equitas SFB?
[A] 10.99%
[B] 9.99%
[C] 8.99%
[D] 7.99%
Show Answer
Correct Answer: B [9.99%]
Notes:
The Reserve Bank of India (RBI) approved the stake buy by DSP Investment Managers Private Limited in Equitas Small Finance Bank (SFB) Limited. The acquisition of shares by DSP Investment Managers is the result of the merger of Equitas Holdings with Equitas SFB. The paid-up equity of 9.99% will be acquired by the DSP Investment Managers in Equitas SFB through various schemes of the DSP Mutual Fund. According to the norms of the RBI, prior approval of the central bank is a must for acquiring equity capital of more than 5%. The approval for the acquisition of the stakes by the RBI will be valid for 1 year (till November 15, 2023).
3. According to the RBI’s “State of the Economy” report, what will India’s GDP growth rate be in 2022-23?
[A] 6.3%
[B] 7.0%
[C] 7.7%
[D] 8.0%
Show Answer
Correct Answer: B [7.0%]
Notes:
The Reserve Bank of India (RBI), in its “State of the Economy” article in the monthly RBI Bulletin, came out with India’s expected growth. According to the “State of the Economy” article, India’s GDP growth in Q2 FY23 (Jun-Sep) is expected to be between 6.1% and 6.3%. The RBI Bulletin said that if the above growth rate is realized, India will achieve a GDP growth of 7% in 2022–203. The RBI pointed out that inclusive growth and balanced regional development were the two key areas of India’s development agenda. The RBI also released the 7th edition of its statistical publication titled “Handbook of Statistics on Indian States 2021–22.”
4. Which bank was the first to introduce products for NRIs in the Gujarat International Financial Tech (GIFT) City?
[A] SBI
[B] PNB
[C] ICICI
[D] HDFC
Show Answer
Correct Answer: C [ICICI]
Notes:
ICICI Bank Limited launched two new products for Non-Resident Indians (NRIs) at its branch in GIFT city. ICICI Bank became the first bank to launch products for NRIs in the Gujarat International Financial Tech (GIFT) City.
5. Which insurer recently introduced usage-based add-on coverage for private vehicles?
[A] Kotak General
[B] Bajaj Allianz
[C] ICICI Lombard
[D] Bharati AXA
Show Answer
Correct Answer: A [Kotak General]
Notes:
The Kotak Mahindra General Insurance Company launched a usage-based add-on cover for private car insurance policies. The Kotak Meter (Switch On/Switch Off) policy will allow the policyholders to pause the insurance coverage when the vehicle is idle. The policy will also offer a cashback feature, making Kotak General the first company in the country to do so. The policy will be available on the Kotak Meter mobile application, which can be downloaded via the Play Store or App Store.
