Banking, Finance & Economy Current Affairs Quiz -January 4, 2023

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The news organization’s founders, Prannoy Roy and Radhika Roy sold Radhika Roy Prannoy Roy (RRPR) Holding Private Limited 27.26% of their stake in New Delhi Television (NDTV) for Rs 342.65 (USD 4.1426) per share. The Roys would have collected Rs 602.30 crore from the sale of 1.75 crore shares based on the price paid by Adani Group. Under the Securities and Exchange Board of India (SEBI) (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, the transfer of shares was accomplished through an interse transfer.

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The Narendra Modi administration’s 2016 decision to demonetize currency notes with denominations of INR 500 and INR 1,000 has been upheld by the Supreme Court of India.

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Public sector bank Punjab & Sind Bank (PSB) and SBI Card have teamed together to offer co-branded credit cards to the bank’s clients. This signifies PSB’s introduction into the “credit cards” product area as a new addition to the bank’s product line. Three card variants—PSB SBI Card ELITE, PSB SBI Card PRIME, and PSB SimplySAVE SBI Card—have been introduced due to the agreement.

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The Reserve Bank of India has started the second phase of its plan to improve regulatory and supervisory systems, called Utkarsh 2.0. Utkarsh 2.0 builds upon the previous phase, Utkarsh 2022, which began in July 2019 and covered the period through 2022. The new phase, which will run from 2023 to 2025, aims to improve the effectiveness of the Reserve Bank of India’s statutory and other duties, increase its importance and relevance nationally and internationally, and enhance its internal governance, infrastructure, and human resources through six vision statements.

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For the second phase of the metro project in Nagpur, the Mahametro Corporation has finalized its financial arrangement and secured a loan of Rs. 3,586 crores from the Asian Development Bank (ADB) and the European Investment Bank (EIB).