Which Bank appoints Rajat Kumar Jain as Chairman from 24th Nov 2023 till 1st Nov 2025?

Daily Current Affairs

Jio Payments Bank

Paytm Payments Bank

Airtel Payments Bank

Fino Payment Bank

Correct Answer : Fino Payment Bank

Mumbai-based Fino Payments Bank has received approval from the Reserve Bank of India (RBI) for the appointment of Rajat Kumar Jain as Part-time Chairman of the Bank, the bank said in its regulatory filing on November 24, 2023.

The payment bank said that it has got approval with effect from November 24. 2023 till November 01, 2025.

Rishi Gupta, Managing Director & Chief Executive Officer of Fino Payments Bank said, “Jain's experience and expertise across sectors, especially in technology will have a strong bearing on our business model. We are fortunate to have his guidance as Fino Bank strengthens its digital ecosystem to realize its growth potential.”

Rajat Kumar Jain studied at IIT Delhi and IIM Ahmedabad and serves as a non-executive director on various boards including group companies of Aditya Birla and Mahindra conglomerates.

Jain has over three decades of strategic leadership experience across the consumer, telecom, media, and technology sectors.

Jain said, “As the Bank aims to expand its horizons, I look forward to working with my colleagues at the Board and senior management team at Fino Bank towards creating a differentiated digital Bank.”

In Q2FY24, the Fino Payment bank did transactions worth Rs 86,568 crore of which more than Rs 23,051 crore were processed digitally. The bank registered a PAT (Profit after tax) of Rs 19.5 crore in the second quarter of FY24...

Source : Money Control

Published On : November 28, 2023

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In 2015, India ranked ninth in solar energy deployment, but by 2023, it produced 5.8% of its electricity from solar, up from 0.5% in 2015. This significant increase underscores India’s commitment to clean energy and its pivotal role in mitigating climate change.

Global Solar Growth Trends :

Ember’s report highlights that solar energy witnessed a remarkable increase globally, with 2023’s solar generation exceeding six times that of 2015. The top four solar growth countries, including India, accounted for 75% of this growth, emphasizing the widespread adoption of solar power worldwide.

Published On : May 9, 2024

Q .

India's Toy Exports Slip to _____ Million in 2023-24

$102.92

$121.19

$139.53

$152.34

Correct Answer : Option (D) - $152.34

India’s toy exports experienced a slight decline to USD 152.34 million in the fiscal year 2023-24, with limited benefits from quality control measures. Despite efforts to bolster the domestic industry and ensure product safety, exports did not see significant improvement.

Declining Export Trends :

Export figures dropped marginally from USD 153.89 million in the previous fiscal year to USD 152.34 million in 2023-24, as outlined by the Global Trade Research Initiative (GTRI). Despite a modest increase in exports from FY’2020 to FY’2022, the subsequent year witnessed a downturn.

Import Trends :

Conversely, imports rose to USD 64.92 million in 2023-24 from USD 62.37 million in the preceding year, indicating a persistent challenge in balancing trade dynamics.

GTRI’s Recommendations :

Comprehensive Industry Development Strategy : GTRI Founder Ajay Srivastava emphasized the necessity for a holistic approach to foster the growth of India’s toy industry and bolster exports.

Domestic Ecosystem Strengthening : Developing a robust domestic ecosystem is paramount, alongside measures to encourage renowned global toy brands to establish manufacturing facilities within India’s borders.

Published On : May 9, 2024

Q .

India Leads Global Remittances, Surpassing _____ Billion Mark.

$50

$100

$200

$250

Correct Answer : Option (B) - $100

India emerged as the global leader in remittances in 2022, receiving over $111 billion, surpassing the $100 billion mark for the first time. The International Organisation for Migration (IOM) highlighted India, alongside Mexico, China, the Philippines, and France, as the top five remittance recipient countries.

Consistent Growth: From $53.48 Billion to $111.22 Billion

The UN’s World Migration Report 2024 underscored India’s consistent growth in remittances, noting a rise from $53.48 billion in 2010 to $111.22 billion in 2022. This significant increase showcases India’s pivotal role in the global remittance landscape.

Southern Asia’s Significance in Global Remittances :

The IOM emphasized Southern Asia’s importance as a major recipient of global remittances, attributed to its high proportion of migrant workers and emigrants. India, Pakistan, and Bangladesh all ranked among the top ten recipients worldwide, highlighting the sub-region’s reliance on labor migration.

Prominent Migration Corridors and Destination Countries :

While India ranks 13th as a destination country for immigrants, it features prominently in various international migration corridors, including India-United Arab Emirates, India-Saudi Arabia, and Bangladesh-India, all of which are among the top 10. This indicates India’s significant role in global labor migration patterns.

Published On : May 9, 2024