INSURANCE & FINANCE
A)
Life Insurance Corporation
B)
HDFC Life Insurance
C)
Max Life Insurance
D)
PNB MetLife

Correct Answer : Option (D) - PNB MetLife

Note :

PNB MetLife India Insurance Company has launched a dental health insurance plan.

A dental health insurance plan is the first insurance plan in India that covers fixed-benefit outpatient expenses and provides financial assistance with costs related to overall dental health.

PNB MetLife has tied up with more than 340 dental clinics to help customers to manage their dental health.

PNB MetLife Chairman : Kishore Ponnavolu
MD& CEO : Ashish Kumar Srivastava

Source : Business Standard

  Show Answer
A)
Gujarat
B)
Karnataka
C)
Telangana
D)
Andhra Pradesh

Correct Answer : Option (C) - Telangana

Note :

Telangana state Government has announced extension of insurance coverage to handloom and power loom weavers under ‘Nethanna Bima’ (Weaver’s Insurance) Scheme. The State Government has issued orders to extend insurance coverage of 5 lakh rupees for weavers under the Insurance Scheme on par with farmers insurance scheme.
 
Over 29 crore rupees have been sanctioned for implementing the scheme during the current year. The Cabinet Sub Committee had proposed to cover over 55 thousand handloom and power loom and ancillary weavers in the State. The insurance coverage will be extended to weavers in the age group of 18 to 59 years.

Source : News On Air

  Show Answer
A)
Reliance General Insurance
B)
HDFC ERGO General Insurance Company
C)
Bajaj Allianz General Insurance
D)
Star Health and Allied Insurance

Correct Answer : Option (B) - HDFC ERGO General Insurance Company

Note :

* HDFC ERGO General Insurance Company has announced to launch of its ‘Pay as you Drive’ program, this insurance offers distance-based insurance to reduce upfront costs of premium.

* The program will be available for owners of new Maruti Suzuki cars in selected cities up to May 14, 2022.

* This program is applicable for 10,000 policies or ₹50 lacs of premium whichever happens earlier.

* The driving distance will be measured with the help of a telematics device in the vehicle.

Source : Live Mint

  Show Answer
A)
20% to 25%
B)
25% to 30%
C)
30% to 35%
D)
35% to 40%

Correct Answer : Option (B) - 25% to 30%

Note :

The Insurance Regulatory and Development Authority of India (IRDAI) increased insurers’ maximum investment limit in Banking, Financial Services, and Insurance (BFSI) companies from 25% to 30% of their assets. The threshold for financial and insurance actions will now be 30 percent of investment assets for all insurers, according to the most recent modifications to IRDAI’s investment Regulations, 2016. This will include investments in home finance companies and infrastructure finance companies.
 
Important Points :
 
* Experts believe that the regulator’s increase will assist insurers in bringing their financial and insurance exposure closer to broader Indian market indexes.
Financial services firms, which include significant banks, Non-Banking Financial Organisations (NBFCs), and insurance companies, have a present weightage of roughly 35 percent.

* The weightage of financial and insurance companies in broader Indian market indices has consistently increased over the last few years, according to Sampath Reddy, chief investment officer, Bajaj Allianz Life Insurance Co. Ltd.

* Insurance companies, according to Reddy, will be able to own a much broader array of varied stocks as a result of IRDAI’s approach.

* The move also comes just before Life Insurance Corp of India's (LIC) Rs 21,000 crore IPO the largest from India.

* The increase in investment asset caps from 25% to 30%, according to Mayank Gupta, co-founder and chief operating officer of Zopper, an insurtech startup, is a significant step for insurance companies.


Source : Economic Times

  Show Answer
A)
FinMapp
B)
Shriram
C)
L & T Finance
D)
Agro Tech Foods Ltd

Correct Answer : Option (A) - FinMapp

Note :

FinMapp has launched an all-new ‘Fixed Deposit’ feature in the FinMapp application. The Fintech major has updated the app by adding a new icon for an improved customer experience, collaborating with Bajaj Finance.
 
 The fintech firm is offering to provide an interest rate of 7.35 percent on the fixed deposit of app users, which will assist in beating the high inflation rate that is currently prevailing. Investors now have multiple tenures to choose from as they can now make fixed deposits for 15, 18, 22, 30, 33, and 44 months, or opt for tenures of one, three, and five years, respectively.

Source : Express Computer

  Show Answer
A)
M R Kumar
B)
Brendan Callan
C)
Mahesh Kumar Sharma
D)
Bruce de Broize

Correct Answer : Option (D) - Bruce de Broize

Note :

* Generali Asia has appointed Bruce de Broize as MD and CEO of  Future Generali India Life Insurance (FGILI).

* He takes over from Miranjit Mukherjee who served as interim CEO since September 2021.

* He was the Regional Head of Distribution for Generali Asia based in Hong Kong for over five years.

* In March, Generali has become the majority shareholder of the Indian life insurance joint venture after getting all regulatory approvals.

Source : Financial Express

  Show Answer
A)
Rs 20
B)
Rs 40
C)
Rs 60
D)
Rs 80

Correct Answer : Option (C) - Rs 60

Note : The mega LIC IPO Price Band has been fixed at Rs 902-949 per share with Rs 60 discount per share for policyholders and a Rs 40 discount per share for retail investors and employees. LIC is looking to raise close to Rs 21000 crore at the upper end of the price band. 

  Show Answer
A)
April 29th, 2022
B)
May 1st, 2022
C)
May 3rd, 2022
D)
May 4th, 2022

Correct Answer : Option (D) - May 4th, 2022

Note : The much-awaited initial public offering, Life Insurance Corporation of India (LIC IPO) is likely to open on May 4th and close on May 9th, 2022. The development comes after market regulator, Sebi, gave its approval to the updated draft red herring prospectus, which lists a 3.5 percent stake sale instead of 5 percent as mentioned in the previous draft papers. 

  Show Answer
A)
Bhargav Dasgupta
B)
Jasleen Kohli
C)
Mahesh Kumar Sharma
D)
Krishnan Ramachandran

Correct Answer : Option (B) - Jasleen Kohli

Note :

Digit Insurance has appointed Jasleen Kohli as the company’s new managing director (MD) and chief executive officer (CEO) with effect from April 20, 2022. She succeeds Vijay Kumar who retired from the company on April 19, 2022. She served as chief distribution officer (CDO) at Digit, where she was responsible for all of the company’s sales and distribution channels.
 
In 2021, Digit increased its worth to USD 3.5 billion in less than six months after raising USD 200 million in a funding round. The company also announced it has promoted Adarsh Agarwal from the role of Appointed Actuary to Chief Distribution Officer (corporate business). Nikhil Kamdar has been appointed as the next Appointed Actuary, replacing Agarwal.

  Show Answer
A)
Rs 17 lakh
B)
Rs 25 lakh
C)
Rs 32 lakh
D)
Rs 46 lakh

Correct Answer : Option (A) - Rs 17 lakh

Note :

The Reserve Bank of India (RBI) has imposed a fine on Manappuram Financing, a non-banking finance company, of Rs 17 lakh for violating KYC rules and prepaid payment instrument norms.
 
According to an RBI press release issued on April 18, 2022, “The penalty has been imposed in exercise of powers vested in RBI under Section 30 of the Payment and Settlement Systems Act, 2007. This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the entity with its customers.”
 
Why was the fine imposed?
The company was found to be in violation of RBI instructions on KYC and minor PPI standards. As a result, the entity was given notice to show cause why a penalty should not be applied for failing to follow the orders.
 
RBI found that the aforementioned accusation of non-compliance with RBI orders was proven and warranted imposition of monetary penalty after reviewing the entity's answer and giving it a personal hearing..

Source : Economic Times

  Show Answer

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