Banking & Financial Awareness Quiz: Part 25

(1). Dr. (Ms.) Mukulita Vijayawargiya took charge as Whole Time Member of which of the following Banking or Financial organisation/committee?
(a) SEBI
(b) Insolvency and Bankruptcy Board of India(IBBI)
(c) Banks Board Bureau
(d) Monetary Policy Committee of the RBI

(2). Who is appointed as the CEO and MD of the Life insurance Corp(LIC) of India?
(a) Rakesh Sethi
(b) Suresh N Patel
(c) Rajeev Rishi
(d) Vinay Shah

(3). Governance, Reward and Accountability Framework (GRAF) for Public Sector Banks(PSBs) is framed by
(a) Banks Board Bureau
(b) Finance Ministry
(c) None is correct
(d) Monetary Policy Committee of the RBI

(4). Which country has recently came at the first spot in the 2017 AT Kearney Foreign Direct Investment (FDI) Confidence Index?
(a) India
(b) China
(c) USA
(d) Japan

(7). Which of the following has become the first re-insurer to open an office at India’s first International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City (GIFT City)?
(a) Aviva India
(b) General Insurance Corporation of India
(c) National Insurance Company Limited
(d) Oriental Insurance Company Limited

(9). Which private sector bank has recently awarded the Golden Peacock Award 2017 for innovative mobile technology product SIMsePAY?
(a) Yes Bank
(b) ICICI
(c) HDFC
(d) Axis Bank

Explanation

(1). Answer Key: (b)
Dr. (Ms.) Mukulita Vijayawargiya took charge as Whole Time Member, the Insolvency and Bankruptcy Board of India. Dr. (Ms.) Vijayawargiya will look after Administrative Law Wing. She will also look after Information Technology, Limited Insolvency Examination, National Insolvency Examination, Finance and Accounts and Communication.

(2). Answer Key: (d)
Life insurance Corp of India has appointed Vinay Shah as the new managing director and chief executive director of its mortgage loan arm and listed entity LIC Housing Finance after government elevates Sunita Sharma to managing director of LIC earlier this week. Shah was executive director.

(3). Answer Key: (a)
The GRAF seeks to ensure that corporate governance at PSBs is in keeping with various pieces of legislation, including the Companies Act, 2013, Banking Regulation Act, 1949, and Securities and Exchange Board of India (listing obligations and disclosure requirements) Regulations, 2015.

(4). Answer Key: (c)
India has jumped one spot to rank 8th in 2017 AT Kearney Foreign Direct Investment (FDI) Confidence Index with 31 percent of the surveyed respondents being more optimistic on economic outlook over the next three years. Top Five: United States, Germany, China, United Kingdom, Canada

(5). Answer Key: (d)
Payments technology company and soon-tobe-launched payments bank Fino Paytech to facilitate NABARD to help the rural bank digitisation drive in the states of Haryana, MP, Bihar, Gujarat and Maharashtra

(6). Answer Key: (a)
IndoStar Capital announced that Sriram Group chief R Sridhar has joined as Executive Vice Chairman and CEO as the Everstone Group backed NBFC sees strong growth and aims to grow its retail lending business.

(7). Answer Key: (b)
General Insurance Corporation of India (GIC Re) has become the first re-insurer to open an office at India’s first International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City (GIFT City).

(8). Answer Key: (b)
IT major Infosys has launched its new artificial intelligence platform ‘Nia’, which can help businesses forecast revenues, understand customer behaviour as well as deep dive into the content of contracts and deal with compliance and fraud.

(9). Answer Key: (a)
Adding another feather to its cap, India’s fifth largest private sector Bank, the YES BANK has won the prestigious ‘Golden Peacock Innovative Product/Service Award 2017’ for its innovative mobile technology product, SIMsePAY at the Dubai Global Convention 2017 for the 27th World Congress on Leadership for Business Excellence & Innovation and Presentation of Golden Peacock Awards

(10). Answer Key: (a)
The World Bank every year publishes its "Doing Business" report on how easy it is for companies in terms of doing business, as well as following certain regulations based on ten parameters such as starting a business, getting electricity, dealing with construction permits, getting credit, paying taxes, protecting minority investors, resolving insolvency and more.