INSURANCE & FINANCE
A)
SBI Life Insurance
B)
Life Insurance Corporation(LIC)
C)
HDFC Life Insurance
D)
Max Life Insurance

Correct Answer : Option (B) - Life Insurance Corporation

Note :

Life Insurance Corporation of India (LIC) has increased its shareholding in "Voltas" by buying an additional 2 per cent stake. LIC said it acquired Voltas' shares worth Rs 634.50 crore through open market transactions during the period from August 10 to November 4, 2022.
 
The state-owned life insurer increased its shareholding from 2,27,04,306 shares (equivalent to 6.862 per cent) to 2,93,95,224 (8.884 per cent) in Voltas, according to a regulatory filing on Monday(7th Nov 2022).
 
Voltas is engaged in the business of air conditioning, refrigeration, electro-mechanical projects as an EPC (engineering, procurement and construction) contractor both in domestic and international market.
 
Stock of LIC closed at Rs 633.30 apiece on BSE, up by 0.84 per cent, while Voltas scrip ended 1.24 per cent lower at Rs 834.40 apiece..

Source : Economic Times

  Show Answer
A)
Sundaram Finance
B)
Tata Capital
C)
Shriram City Union Finance
D)
Mahindra and Mahindra Financial Services Ltd

Correct Answer : Option (D) - Mahindra and Mahindra Financial Services Ltd

Note :

Mahindra & Mahindra Financial Services announced a strategic partnership with India Post Payments Bank (IPPB) to further enhance credit access to a larger customer base. 
 
As a part of this alliance, India Post Payments Bank (IPPB) will provide Lead referral services to MMFSL for Passenger Vehicles, 3-Wheeler, Tractor and Commercial Vehicle Loan categories and provide cash EMI deposit facility to existing MMFSL Customers at Post Offices.
 
* As a pilot, this scheme would first go live in IPPB branches in the states of Maharashtra and Madhya Pradesh. It is expected to spread across other states over the next 4-6 months
 
* With this IPPB will also be able to expand its financial product portfolio within the payments bank licensing framework. The complete step by step guidance will be available at IPPB network, to ensure a hassle-free experience to all potential customers. 
 
* With the launch of Cash Management services, Mahindra Finance customers can visit Post Office to deposit EMI payment..

Source : Business Standard

  Show Answer
A)
Kotak Life Insurance
B)
Max Life Insurance
C)
Life Insurance Corporation (LIC)
D)
SBI Life Insurance

Correct Answer : Option (C) - Life Insurance Corporation (LIC)

Note :

The Life Insurance Corporation (LIC) of India has introduced a new plan Dhan Varsha with effect from 17th October 2022 which is a non- linked, non-participating, individual, savings, single Premium Life Insurance plan which offers a combination of Protection and savings. 
 
* This plan provides financial support for the family in case of unfortunate death of the life assured during the policy term. It also provides guaranteed lumpsum amount on the date of maturity for the surviving life assured. 
 
* The UIN for this plan is 512N349V01. This is a close ended plan and shall be available for sale up to the end of current financial year i.e. 31st March,2023.
 
Sum assured feature : The proposer has two options to choose “Sum Assured on Death"

  (1) 1.25 times of Tabular Premium

  (2) 10 times of Tabular Premium for the chosen Basic Sum Assured. 
 
* The proposer can choose the term either for 10 years or 15 years. The minimum age at entry for 10 year term is 8 years and 3 years for 15 year policy term. 
 
* The maximum age at entry varies from 35 to 60 years depending on the term and option of Sum Assured on Death chosen.

* The minimum Basic Sum Assured is Rs.125000/- and there is no limit for maximum Basic Sum Assured..

Source : Mint

  Show Answer
A)
Axis Bank
B)
DBS Bank
C)
RBL Bank
D)
ICICI Bank

Correct Answer : Option (A) - DBS Bank

Note :

DBS Bank India Limited 28th Sep 2022 announced that it has provided a bespoke Credit Insurance - Accounts Receivable solution to Tata Metaliks, a pioneer in manufacturing pig iron and DI pipes in India, in collaboration with HDFC ERGO General Insurance Co Ltd and reinsured by Atradius, a worldwide provider of trade credit insurance.
 
This credit insurance deal is amongst the first to leverage Trade Credit Insurance. The revised framework was rolled out by the Insurance Regulatory & Development Authority of India (IRDAI) in November 2021, allowing banks to participate in this proposition.
 
Divyesh Dalal, Managing Director & Head, Global Transaction Services, DBS Bank India, said, “We expect insurance-backed receivable discounting to grow into a key working capital management as well as a sales enablement tool for corporates in India. The solution will help treasurers to drive discussion around corporate customers where there is a need to structure the credit risk. 
 
In this endeavour, DBS has partnered with insurers like HDFC ERGO and Atradius to create an active trade credit insurance market in India. The deal is expected to ease the credit receivables for not just Indian corporates but also small and medium enterprises. It would help transform the trade landscape in India.”
 
Sanjay Kaw, President, Commercial Business, HDFC ERGO said, "Following IRDAI's guidelines for Trade Credit Insurance, we are delighted that DBS is one of the first movers in the Indian market, supporting financial transactions backed by Trade Credit Insurance. The policy protects the banks from a potential buyer default in case of funded receivables"..

Source : DBS

  Show Answer
A)
IDBI Federal Life Insurance
B)
Kotak Life Insurance
C)
PNB MetLife India Insurance
D)
Canara HSBC Life Insurance

Correct Answer : Option (D) - Canara HSBC Life Insurance

Note :

Canara HSBC Life Insurance has launched a new life insurance policy named iSelect Guaranteed Future, an individual, non-linked, non-participating, savings and protection plan.

The policy comes in multiple options :

* iAchieve and Flexi iAchieve option :  Pay for a limited period and get a guaranteed sum assured at maturity

* iAssure and Flexi iAssure plan : Pay for a limited period, and get the guaranteed lump sum on maturity.

* Easy iAchieve : Single premium payment term

Source : Mint

  Show Answer
A)
HDFC Life Insurance
B)
SBI Life Insurance
C)
Max Life Insurance
D)
Life Insurance Corporation(LIC)

Correct Answer : Option (A) - HDFC Life Insurance

Note :

HDFC Life has launched a term insurance plan named Click2Protect Super.
 
Offers : It enables customisation as per protection needs and only pay for the benefits/plan options that you have chosen.
 
It is a non-linked, non-participating, individual, pure risk premium/ savings life insurance plan.
 
It provides with multiple flexibilities such as changing life cover, extending the policy term, getting coverage for accidental death and terminal illness, etc..

Source : Mint

  Show Answer
A)
Shriram City Union Finance Ltd.
B)
Muthoot FinCorp Ltd
C)
Manappuram Finance Limited
D)
Mahindra and Mahindra Financial Services Limited

Correct Answer : Option (B) - Muthoot FinCorp Ltd

Note :

Muthoot FinCorp Ltd has tied up with IME India Pvt Ltd (erstwhile IME Forex India) to expand its money remittance services between Indo-Nepal corridor.
 
Muthoot FinCorp has been assisting the Nepali community in India in remitting money through their existing partner – Prabhu Money Transfer Pvt Ltd.
 
The new tie up with IME India, Muthoot FinCorp will be able to serve a larger mass of Nepalese diaspora living in India and is looking forward to creating a larger ecosystem with quick and reliable service.
 
Nepali migrants can now transfer money instantly from 3,600-plus branches of Muthoot FinCorp to their families in Nepal without opening any bank account in India..

Source : The Hindu Businessline

  Show Answer
A)
Muthoot Finance
B)
Mahindra Finance
C)
IIFL and India Infoline
D)
Manappuram Finance Limited

Correct Answer : Option (A) - Muthoot Finance

Note :

Gold loan NBFC "Muthoot Finance" today (August 23, 2022) announced the launch of the ‘Milligram Reward Programme’ for its customers. Under this reward programme, all transactions with The Muthoot Group will be rewarded with at least a milligram of gold. 
 
The NFBC said in a statement that the two-year long programme aims to strengthen the relationship between customers and bring back inactive customers.
 
The NBFC further said that for the first time in India a customer reward programme is being run in 24-carat gold. The reward programme will be applicable for 30 plus services offered by the company. 
 
“All the customers who transact with the company – even availing gold loans and repaying the gold loan interests will be rewarded through the programme. Every customer referral transaction with the company will earn 20 mg of gold as well,” the statement said.
 
Annually Rs 50 crore worth of gold (100 kg) is expected to be paid off through the programme. The ‘Milligram Reward Programme’ will be effective for all transactions from April 01, 2022 onwards,” it added..

Source : Financial Express

  Show Answer
A)
HDFC Life Insurance
B)
Tata AIA Life Insurance
C)
Max Life Insurance
D)
Bharti AXA General Insurance

Correct Answer : Option (C) - Max Life Insurance

Note :

Max Life Insurance Company Ltd. (“Max Life” / “Company”), has launched Max Life Smart Secure Easy Solution, a comprehensive three-in-one protection solution  offering benefits of life, critical illness & disability and accidental cover.
 
Aimed primarily toward self-employed individuals, the solution is available for multiple customer cohorts including salaried and other professionals to comprehensively guard against life’s uncertainties.
 
The solution is a combination of Max Life’s Smart Secure Plus Plan (UIN: 104N118V04) that aims at providing financial protection in case of any uncertainties in life with an accidental cover option and Max Life Critical Illness and Disability Health Rider (UIN: 104B033V01), which offers an added layer of financial protection in case of critical illnesses, total and permanent disability and provides extra coverage against death due to accident1..

Source : The Print

  Show Answer
A)
LIC
B)
CSL
C)
HSCC
D)
ECGC

Correct Answer : Option (D) - ECGC

Note :

Export Credit Guarantee Corporation of India (ECGC) has launched a new scheme to provide enhanced export credit risk insurance cover to the extent of 90%.

Aim : To support small exporters under the Export Credit Insurance for Banks Whole Turnover Packaging Credit and Post Shipment (ECIB- WTPC & PS).

This scheme will benefit small-scale exporters availing of export credit with banks which hold the ECGC WT-ECIB covers..

Source : PIB

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