Correct Answer :   IDFC First Bank

LIC has entered into a partnership with IDFC First Bank to provide online life insurance policies.

This collaboration enables over 1 crore customers of IDFC First Bank to purchase LIC policies directly through the bank's website.

IDFC First Bank, led by CEO V. Vaidyanathan, is facilitating this offering, showcasing its role in expanding insurance access through digital channels.

The partnership with LIC, chaired by Siddharth Mohanty, aims to enhance customer convenience and broaden the reach of life insurance products.

Correct Answer :   Asian Development Bank

The Asian Development Bank (ADB) approved a loan of USD 240.5 million to support the deployment of rooftop solar systems in India.

This financing aids the government's renewable energy expansion efforts and aligns with India's goal of achieving 50% of its cumulative electric power capacity from non-fossil fuel sources by 2030.

The funds will be allocated to the State Bank of India (SBI) and the National Bank for Agriculture and Rural Development (NABARD) to provide loans for installing these systems, contributing significantly to India's renewable energy targets and carbon emission reduction commitments.

Correct Answer :   Punjab National Bank

Punjab National Bank (PNB) has introduced the 'Safety Ring' security feature to combat rising cyber fraud incidents.

This optional mechanism allows customers to set daily transaction limits for term deposits (TDs) specifically for online closures or overdraft facilities.

By enabling customers to define these limits, PNB aims to provide an additional layer of protection against unauthorized access and potential financial losses.

The initiative underscores PNB's commitment to enhancing security measures for its internet and mobile banking users.

Correct Answer :   Asian Development Bank

The Asian Development Bank (ADB) partnered with Aadhar Housing Finance Limited (AHFL) through a $60 million financing agreement aimed at providing housing loans to low-income women in India.

This initiative addresses the financing gap in affordable housing and promotes financial inclusion, particularly in states like Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Odisha, Rajasthan, Uttar Pradesh, and West Bengal.

ADB's support underscores its commitment to inclusive and sustainable development across Asia and the Pacific region, focusing on critical sectors such as housing and infrastructure.

Correct Answer :   ICICI Bank

ICICI Bank launched the Student Sapphiro Forex Card, specifically designed for students travelling abroad for higher education.

This prepaid forex card, powered by Visa, offers various benefits including ease of use, digital activation options, and the ability to reload funds digitally, catering to the financial needs of students and their parents managing expenses overseas.

Correct Answer :   State Bank of India

The State Bank of India (SBI) introduced "MSME Sahaj," an innovative online loan solution designed specifically for MSMEs.

This platform allows MSMEs to obtain loans up to ?1 lakh against their GST-registered sales invoices within 15 minutes, leveraging automated processing and data-driven credit assessments through SBI's digital platform Yono. The initiative aims to enhance cash flow for micro SME units efficiently.

Correct Answer :   28%

The RBI increased the Ways and Means Advances (WMA) limit for State governments and Union Territories (UTs) by 28%, raising it from ?47,010 crore to ?60,118 crore.

This adjustment aims to assist States and UTs in managing temporary mismatches in their cash flow, based on recommendations from State Finance Secretaries and recent expenditure data.

The revised limit underscores RBI's proactive measures to support regional financial liquidity during economic fluctuations and fiscal challenges.

Correct Answer :   Federal Bank

Federal Bank has introduced the RuPay Wave Credit Card, leveraging NPCI's UPI technology for seamless transactions. This card allows customers to conduct payments via mobile devices using the FedMobile application.

It features benefits such as no annual fees, cashback on initial UPI transactions, and bonus reward points for quarterly expenditures exceeding ?50,000, enhancing customer convenience and transaction efficiency.

Correct Answer :   Axis Bank

Axis Bank has approved a proposal to acquire additional equity shares in Max Life Insurance for up to ?336 crore, increasing its collective shareholding from 19.02% to 19.66%.

This move is part of Axis Bank's strategy to strengthen its presence in the insurance sector, following previous investments aimed at enhancing its strategic position and influence within Max Life Insurance.

Correct Answer :   Ria Money Transfer

India Post Payments Bank (IPPB) has partnered with Ria Money Transfer to offer innovative remittance services in rural India.

This collaboration aims to provide accessible, affordable, and secure financial services directly to customers in remote areas, leveraging IPPB's extensive postal network and Ria Money Transfer's global expertise in cross-border money transfers.

The partnership facilitates international inward money transfer services at thousands of Post Office locations, enhancing financial inclusion and economic opportunities for rural communities across India.