Banking And Finance Flashcards
Name the organisation that has recently (in Nov ‘22) approved a USD 350 million loan to improve road connectivity in Maharashtra.
1) United Nations Development Programme
2) International Monetary Fund
3) World Bank
4) Asian Development Bank
5) Asian Infrastructure Investment Bank
Asian Development Bank (ADB)
Explanation:
Asian Development Bank (ADB), a multilateral funding agency, approved a USD 350 million (around Rs 2,900 crore) loan to improve the road connectivity of key economic areas in Maharashtra.
i. The roads will be built under the Maharashtra State Road Improvement Project approved by ADB in April 2020 to upgrade state highways and major district roads of Maharashtra.
ii. Under the project, around 319 kilometres (km) of state highways and 149 km of district roads, will be upgraded, incorporating climate and disaster-resilient features.
Which bank has recently (in Nov’ 22) partnered with the M1xchange to digitise corporate trade finance?
1) Sber Bank
2) Woori Bank
3) MUFG Bank
4) Mizuho Bank
5) SMBC Bank
MUFG Bank
Explanation:
MUFG Bank has partnered with M1xchange to facilitate digital invoice financing for its customers. The bank also leverages the digital ecosystem established by M1xchange and hence enhances the efficiency of its client services.
i. Through this partnership, the MUFG bank would offer digital trade solutions to its customers while adding value to Micro Small and Medium Enterprises (MSME) enterprises, who will be the end users of the supply chain.
Name the organisation that has recently (in Nov’ 22) provided in-principle approval to C2FO Factoring Solutions Private Limited to set up and operate the Trade Receivable Discounting Systems (TReDS) ‘ platform in India.
1) Small Industries Development Bank of India
2) Reserve Bank of India
3) National Bank for Agriculture and Rural Development
4) Securities and Exchange Board of India
5) Insurance Regulatory and Development Authority
Reserve Bank of India (RBI)
Explanation:
The Reserve Bank of India (RBI) has provided in-principle approval to C2FO Factoring Solutions Private Limited, India arm of C2FO, a global on-demand working capital platform, to set up and operate Trade Receivable Discounting Systems (TReDS) platform in India.
i. The C2FO is the largest Early Pay platform that provides working capital to more than 10 lakh businesses across the 160 countries of the world, out of which, 2 lakh businesses are in India, especially micro, small and medium enterprises (MSMEs).
Name the Mutual Fund company that has recently (in Nov ‘22) launched two new exchangetraded funds to offer solutions to gain exposure to the growing Information Technology (IT) and Private Bank space.
1) HDFC Mutual Fund
2) Edelweiss Mutual Fund
3) Axis Mutual Funds
4) SBI Mutual Funds
5) ICICI Prudential Mutual Fund
HDFC Mutual Fund
HDFC Mutual Fund has launched two new exchange-traded funds, HDFC Nifty IT ETF and HDFC Nifty Private Bank ETF to expand the ‘HDFC MF Index Solutions’, that offers solutions to gain exposure to the growing Information Technology (IT) and Private Bank space.
i. These new funds opened on 28th October 2022, and will close on 9th November 2022.
ii. Objective – To provide investment returns that correspond to the total returns of the securities before expenses, as represented by the Nifty IT Index and Nifty Private Bank Index.
- Which organisation has recently (in Nov ‘22) signed an MoU with the Bureau of Energy Efficiency (BEE) to Promote Energy Efficiency Finance for MSMEs?
1) Small Industries Development Bank of India 2) Reserve Bank of India
3) National Bank for Agriculture and Rural Development
4) Securities and Exchange Board of India
5) Insurance Regulatory and Development Authority
Small Industries Development Bank of India
The Bureau of Energy Efficiency (BEE), under the Ministry of Power signed an MoU with the Small Industries Development Bank of India (SIDBI) for Micro Small and Medium Enterprises (MSMEs).
i. The MoU aims to promote energy efficiency financing for MSMEs and to explore Internet of Things (IoT) based solutions, Greening MSMEs, capacity building of various stakeholders and such others.
- The United Arab Emirates (UAE)-based bank Emirates NBD has recently (in Nov ‘22) announced an additional ___________ investment in its India operations, and added two more branches in Chennai, Tamil Nadu and Gurugram, Haryana.
1) USD 100 million
2) USD 600 million
3) USD 400 million
4) USD 200 million
5) USD 500 million
‘USD 100 million
The United Arab Emirates (UAE)-based bank Emirates NBD launched two new full service branches in Chennai, Tamil Nadu and Gurugram, Haryana in addition to its Mumbai branch to expand its presence as Asia’s 3rd largest economy.
i. The bank has also invested USD 100 million in its India operations, in addition to USD 300 million investment in the last 5 years of its operation in India.
ii. Earlier in 2022, the both the countries signed the Comprehensive Economic Partnership Agreement (CEPA) to remove trade barriers and boost non-oil trade to USD 100 billion in 5 years from the current USD 60 billion.
- Name the insurance company that has recently (in Nov ‘22) partnered with Tacterial Consulting Private Limited (Ditto) for Online life insurance distribution.
1) Max Life Insurance
2) ICICI Prudential Life Insurance
3) Exide Life Insurance
4) Kotak Mahindra Life Insurance
5) HDFC Life Insurance
Max Life Insurance
Max Life Insurance Company Limited (Max Life) has partnered with Tacterial Consulting Private Limited (Ditto) for a life insurance product distribution.
i. This partnership aims to leverage Ditto’s insurance advisory platform to offer Max Life’s plans to customers through online.
- In November 2022, RBI has issued a licence for Ftcash to set up a non-banking financial company (NBFC) & aims to disburse loans worth ___________ in FY23.
1) Rs. 100 crore
2) Rs. 300 crore
3) Rs. 400 crore
4) Rs. 200 crore
5) Rs. 500 crore
Rs. 100 crore
Reserve Bank of India (RBI) issued a licence for Ftcash, a Small and Medium Enterprises (SME) lending startup to set up a non-banking financial company (NBFC) and it aims to disburse loans worth Rs. 100 crore in FY23.
i. The NBFC licence to Ftcash will ensure in bridging the credit gap where about 80 % of Micro, Small and Medium Enterprises (MSMEs) lack access to lending.
ii. Till now, the company said it has raised USD 10.2 million (about Rs 83 crore) and is backed by several investors including Accion, FMO and IvyCap Ventures.
