SBI Life Insurance inks bancassurance pact with State Bank of Which State?

Daily Current Affairs

Sikkim

Jharkhand

Tamil Nadu

Uttar Pradesh

Correct Answer : Sikkim

SBI Life Insurance Company has signed a bancassurance pact with the State Bank of Sikkim (SBS) at the bank's headquarters in Gangtok, Sikkim.

The landmark agreement highlights SBI Life's commitment to make insurance solutions accessible to the residents of Sikkim, through its trusted bancassurance partner.

Ensuring greater reach and penetration, the partnership will see extensive distribution network of the State Bank of Sikkim spread across the state offer SBI Life's diverse range of protection, wealth creation and savings insurance products to its customers.

This partnership will not only ensure easy accessibility of insurance products but will also empower the customers to address their complete financial needs under one roof.

SBI Life Insurance Company is carrying on business of life insurance and annuity. The Company’s life insurance business comprises of individual life and group business, including participating, non-participating, pension, group gratuity, group leave encashment, group superannuation, group immediate annuity, unit-linked insurance products, variable insurance products, health and micro insurance..

Source : Moneyworks4me

Published On : October 4, 2023

Floating Solar Project Overview :

The ambitious project, spearheaded by BSP, will see the installation of a 15 MW capacity floating solar plant within the expansive Maroda-1 reservoir located in Durg district. This reservoir, sprawling across 2.1 square kilometers with a water storage capacity of 19 cubic millimeters (MM3), not only caters to the water needs of the plant but also supports the adjoining township.

Partnership and Implementation :

Collaborating with NTPC-SAIL Power Supply Company Limited (NSPCL), a joint venture between National Thermal Power Corporation (NTPC) and SAIL, BSP aims to leverage expertise and resources to bring the project to fruition. NTPC, serving as the consultant for the initiative, facilitated the tender process which commenced in January. With the tender process now complete, the Engineering, Procurement, and Construction Contract (EPC) is poised to be awarded shortly, marking a significant milestone in the project’s timeline.

Published On : May 14, 2024

Q .

India's Retail Inflation Marginally Eases to _____ in April 2024.

4.27%

4.83%

5.21%

5.76%

Correct Answer : Option (B) - 4.83%

India’s retail inflation has eased marginally to touch an 11-month low of 4.83 per cent on an annual basis in April, according to government data released on Monday. This slight dip from the previous month’s figure of 4.85 per cent aligns closely with the projections of a Reuters poll of 44 economists, who estimated the number to come down to 4.80 per cent. Importantly, this figure falls within the Reserve Bank of India’s (RBI) tolerance band of 2-6 per cent.

Food Basket Inflation Remains Elevated :

Despite the overall moderation in inflation, the inflation rate in the food basket grew at 8.7 per cent in April, up from 8.52 per cent in March, as per data from the National Statistical Office (NSO). Notably, India’s vegetable inflation slightly decreased to 27.80 per cent year-on-year compared to 28.30 per cent in March. However, inflation rates for cereals and pulses, crucial components of India’s staple diet, remained elevated at 8.63 per cent and 16.84 per cent, respectively.

Contractions in Fuel and Light Inflation :

In contrast to the food sector, the inflation rate for fuel and light witnessed a contraction of (-)4.24 per cent in April, reflecting a downward trend in energy prices.

Inflation Trends Across Various Commodities :

Among the top five groups, the year-on-year inflation in categories like ‘Clothing & Footwear’, ‘Housing’, and ‘Fuel & Light’ has decreased since the previous month. Specifically, the inflation rates for clothing & footwear and the housing sector stood at 2.85 per cent and 2.68 per cent, respectively.

Published On : May 14, 2024

Q .

Which District is the Entry Point of Ganga River in Uttar Pradesh?

Bijnor

Amroha

Rampur

Budaun

Correct Answer : Option (A) - Bijnor

After originating from the Gangotri Glacier in Uttarakhand, the Ganga flows into the plains and enters the state of UP. Uttar Pradesh witnesses the entry of the Ganga River from the Bijnor district.

India boasts numerous rivers, with some originating in the Himalayas while others stem from the major mountain ranges across the subcontinent. Among them, the Ganga River holds a revered status as the holiest and most prominent river in northern India. After emerging from the Himalayas, the Ganga traverses primarily through the state of Uttar Pradesh, playing a vital role in its economy and culture.

Ganga, the Longest River in India :

When it comes to the longest rivers in India, the Ganga River takes the lead. It spans a total length of 2525 kilometers, traversing through multiple states and serving as a lifeline for millions of people. However, it’s essential to note that while the Ganga is the longest river in terms of its course within India, in some regions, it merges with the Brahmaputra River, forming a vast network of water bodies.

Entry Point of Ganga River into Uttar Pradesh :

Uttar Pradesh witnesses the entry of the Ganga River from the Bijnor district. From there, it flows through various cities and towns, enriching the landscape and influencing the lives of millions. The river’s significance extends beyond just geographical boundaries, as it holds immense cultural, religious, and economic value for the people of Uttar Pradesh and India as a whole.

Published On : May 14, 2024