Financial Inclusion

Question 1

— released — for fin inclusion for the period—-

Answer 1

RBI- National Strategy for financial inclusion- 2019-24.

Question 2

Recmd include-
—- to every village within 5 km or hamlet of 500.
Digital ecosystem in – and– villages till –.
Enrolment in —, and insurance schemes like PMJJBY, PMSBY and pension schemes like NPS, APY,etc. by –
- Make — operational by March 2022.
- NSFI org and approved by the —.

Answer 2

Banking access.
Tier II to Tier VI centres by March 2022.
JDY- March 2020
- Public credit registry i.e. database of credit info of borrowers
- Financial stability devlp council.

Question 3

Financial stability devlp council- — formed in —. head-

and heads of —-

Answer 3

Apex level autonomous body- 2010.
Head- Finmin
other members- heads of fin sector regulatory authorities- RBI, SEBI, IRDA.

Question 4

Fiscal performance index- by—-.
Assesses — by centre and states.
Methodology based on-
Components-
— income level state’s performance is better than — income states.
– income states performed poorly coz — and — .

Answer 4

CII.
Quality of budgets.
UNDPs HDI methodology.
Components- Quality of revenue expenditure;
Quality of capital
expenditure; Quality of revenue; Degree of fiscal prudence; Debt
Index.
Low, high- High- expenditure quality and tax receipts.

Question 5

Financial secrecy index- by-
It examines how-
Parameters-
1st- –, 2nd— and India— out of – countries.

Answer 5

Tax Justice network, an independent intn network.
It examines how intensely the country’s legal and financial system allows wealthy
individuals and criminals to hide and launder money.
- Parameters used in the ranking include automatic exchange
of information and registration of beneficial ownership.
Cayman Island- US- 47th.

Question 6

—- released—- (NDAP) vision document- to — data- 1st version to be launched in—–.

Answer 6

NITI Aayog- National Data and analytical platform vision doc- standardise data- 1st version by 2021

Question 7

—- will come out with a framework with issues relating to consortium lending.

Answer 7

Indian Banks Association(IBA)

Question 8

A process under which several banks finance a borrower based on
common appraisal and
documentation, and conduct joint supervision and follow-up exercises is called as -

Answer 8

Consortium lending

Question 9

Consortium lending has resulted in- delay in loan delivery due to banks inability to —. And also results in —-.

Answer 9

Share data with each other in timely manner.

NPAs

Question 10

— - association of Indian banks and fin inst formed in —. to promote progressive and sound banking.

Answer 10

IBA- 1946

Question 11

—- unveiled norms for Financial benchmark admins.
FBA-organization or a legal person which controls the creation
and operation of —–administration process, ——it owns the intellectual property relating to the
benchmark.

Answer 11

RBI.
significant
benchmark .
whether or not .

Question 12

Benchmarks include-

Answer 12

Prices, rates,

indices, values or a combination

Question 13

The major FBAs recognized in India
are:
- Fixed Income Money Market &
Derivative Association of India
(FIMMDA) for the-----.
- ---- for Foreign exchange benchmarks,
o -----has been recognized by ---- as an independent
Benchmark administrator.

Answer 13

Indian rupee
interest rate benchmarks.
Foreign Exchange Dealers’
Association of India (FEDAI).
Financial Benchmark India Private Ltd (FBIL) - RBI

Question 14

FBA to be incorporated should have min. net worth of — at ALL times.

Answer 14

1 crore.

Question 15

Deposit insurance scheme- cover is – to — banks.
Except- —
And types of deposits-
DICGC is a COMPLETELY owned subsidiary of—.

Answer 15

5 lakh
- The scheme covers ALL banks
operating in India including private sector, co-operative and even branches of foreign banks in India.
- There are some exemptions like deposits of foreign
governments, deposits of central/state governments and
inter-bank deposits.
• DICGC insures all bank deposits, such as savings, fixed, current and recurring.
- RBI

Question 16

NPA divergence is the difference betw — and —.
Happens due to —.
Therefore RBI asks lender to make disclosure if under- reporting is more than – of — or —-

Answer 16

RBI’s assessment and that reported by lenders or banks.
Under reporting or not reporting at all.
10%- bad loans or provisioning.
RBI told banks to disclose divergence when the additional provisioning for NPAs assessed by RBI exceeds 10% of the reported profit before provisions and contingencies for the reference period, instead of the earlier rule of 15% of the published net profits after tax.
There was no change in the second condition: the additional gross NPAs identified by RBI exceed 15% of the published incremental gross NPAs for the reference period.

Question 17

The Government had announced the launch of Customer
Outreach Initiative by —-to improve, with particular focus
on—— without compromising
——-.

Answer 17

Public Sector
Banks (PSBs) - credit
delivery and support the needs of
the economy-
 MSMEs, NBFCs, corporates,
retail and agriculture sector
borrowers, - prudential lending.

Question 18

Letter of undertaking- It is a form of bank guarantee
under which a bank can allow its
customer to raise money from
another Indian bank’s — branch in the form of a —–.
• LoUs worth Rs 25,000 crore were
issued fraudulently in PNB fraud
case.

Answer 18

Foreign- short term

credit.

Question 19

Repco bank- —– est in 1969 by — for —- from —-. Operated only in —- states and is controlled by —.

Answer 19

Multi- state cooperative society formed by central govt for rehab of repatriates from Myanmar and Sri lanka.
It is operated only in the South Indian states of Andhra Pradesh,
Karnataka, Kerala and Tamil Nadu.
• It is controlled by the Ministry of Home Affairs

Question 20

—- has closed One time settlement transaction for — with its consortium of 12 lenders led by Power Fin Corp Ltd and SBI.
It is 1st successful scheme closed under —- by — issued in 2019 and it is also – in terms of size outside the NCLT framework.

Answer 20

Rattan India Power ltd- debt resolution.

Prudential Framework for Resolution of Stressed Assets (PFRSA) by RBI- Largest

Question 21

PFRSA- for early — . Features-

Answer 21

PFRSA provides for early resolution
of stressed assets in a transparent and time-bound manner by
-giving complete discretion to
lenders with regard to design
and implementation of
resolution plans,
- disincentives for delay in implementation of resolution plan or initiation of insolvency
proceedings,
- making mandatory the signing of an inter-creditor agreement,
providing for majority decision making
by all lenders.

Question 22

Three year road map for medium term i.e. RBI’s Medium term strategy framework to achieve excellence in performance of its mandates and strengthening trust is also called as —-.

Answer 22

Utkarsh 2022

Question 23

eBkray- — platform with — on — as well as facility of — of similar properties on ALL —.
Launched by-

Answer 23

It is an e-auction platform which
provides single-window access to
information on properties up for e-auction as well as facility for comparison of similar properties on all PSB e-auction
sites.
• It was recently launched by
Ministry of Finance.

Question 24

RBI announced a simultaneous sale and
purchase of government
bonds under the Open Market Operations mechanism is aka —. Being done to —-. Originally it was —-.

Answer 24

Operation twist.

Monetary easing- US central bank’s monetary policy.