Correct Answer : Reserve Bank of India (RBI)
The Reserve Bank of India (RBI) has introduced a prompt corrective action (PCA) framework for large non-banking financial companies (NBFCs) with effect from October 2022, putting restrictions on para-banks whenever vital financial metrics dip below the prescribed threshold. This brings them almost on a par with banks in terms of supervision and regulatory reach.
Correct Answer : Asian Development Bank
The Asian Development Bank (ADB) has approved a $112 million loan to strengthen skills education and training through the establishment of the Assam Skill University (ASU). The Loan will create a path for skill development to enhance the productivity and competitiveness of Assam’s economy and industries. An additional $1 million grant from the Japan Fund for Poverty Reduction will support the introduction of technologies for smart campus management, integrated teaching, learning, and career development management.
Correct Answer : Asian Development Bank (ADB)
Asian Development Bank has trimmed its 2021 growth forecast for India to 9.7% from 10% but left the 2022 growth forecast unchanged at 7.5%. The inflation forecast of developing Asia was revised to 2.1% for 2021 and unchanged at 7% for 2022.
Correct Answer : Axis Bank
Axis Bank is working with new digital services from provider Swift to provide a comprehensive digital solution to clients. The bank is integrating with different digitization initiatives by government bodies and service providers to extend an end-to-end service to business clients. Axis bank’s B2B (business-to-business) digitization efforts are being supported by Swift, a cooperative of global banks that acts as an intermediary between banks and sets standards.
Correct Answer : Bank of Baroda (BoB)
Correct Answer : DBS Bank India
Correct Answer : Karnataka Bank
Karnataka Bank has been conferred with two DigiDhan awards instituted by Ministry of Electronics & Information Technology(MeitY), Govt. of India, for achieving the target with highest percentage in BHIM - UPI transactions under the Private Sector Bank Category consecutively for two years i.e FY 2019-20 & FY 2020-21.
Correct Answer : State Bank of India (SBI)
State Bank of India (SBI) has signed an MoU with Kendriya Sainik Board to support and educate the children of war veterans, ex-servicemen, and war widows. India’s largest bank said it will provide a grant of ₹ 1,000 per month to 8,333 war veterans’. The bank has contributed ₹10 crores to the Armed Forces Flag Day Fund.The Armed Forces Flag Day is celebrated on December 7th. According to the statement, the bank has contributed ₹10 crores to the Armed Forces Flag Day Fund. The Armed Forces Flag Day is celebrated on December 7th.
Correct Answer : Shivalik Small Finance Bank (SSFB)
Shivalik Small Finance Bank (SSFB) signed a partnership agreement with fintech firm, Indiagold to launch India’s first Loan against Digital Gold. This agreement will enable customers to use their digital gold balance to avail of instant and digital loans up to Rs. 60,000 and also seamlessly access gold loans starting at a monthly interest of just 1%. To provide access to secure and affordable credit to the customers looking for quick liquidity against their gold assets.
Correct Answer : Reserve Bank of India
The Reserve Bank of India has imposed several restrictions on Nagar Urban Co-operative Bank Ltd, Ahmednagar, Maharashtra, including restrictions on withdrawals up to Rs. 10,000 for customers. RBI has issued the directions in the exercise of powers vested in it under subsection (1) of Section 35 A of the Banking Regulation Act, 1949 read with Section 56 of the Banking Regulation Act, 1949 for six months.
