41. Who is the head of RBI’s working group on regulation of Digital lending space?
[A] AK Mohanty
[B] Jayant Kumar Dash
[C] Raghuram Rajan
[D] Injetti Srinivasan
Show Answer
Correct Answer: B [Jayant Kumar Dash]
Notes:
The Reserve Bank of India has formed a 6-member working group headed by its Executive Director Jayant Kumar Dash, on regulation of digital lending space.
The committee would study digital lending in regulated as well as unregulated financial sector to devise a regulatory framework for the same.
42. As per the RBI’s recent announcement, how many banks in India are classified as Domestic systemically important banks (D-SIBs)?
[A] Two
[B] Three
[C] Five
[D] Six
Show Answer
Correct Answer: B [Three]
Notes:
The Reserve Bank of India (RBI) has retained State Bank of India, ICICI Bank and HDFC Bank as domestic systemically important banks (D-SIBs), by data collected as on March 31, 2020.
D-SIBs are also called as the banks which are considered as “too big to fail” meaning its failure will impact the country significantly. As per the D-SIB framework, RBI declares the names of the D-SIB banks and fixes additional common equity requirement.
43. Which Indian company has emerged as the 5th strongest brand, as per the Brand Finance’s Global 500 ranking?
[A] Reliance Jio
[B] Infosys
[C] TCS
[D] Indian Oil
Show Answer
Correct Answer: A [Reliance Jio]
Notes:
As per the Brand Finance’s Global 500 ranking, India’s Reliance Jio owned by Mukesh Ambani has emerged as the fifth strongest brand globally. The list is topped by WeChat followed by Ferrari and Russian Bank Sber. Coco Cola is ranked 4th in the chart.
Reliance Jio has achieved this fete, despite being founded only a few years ago in 2016.
44. What is the theme of the ‘Financial Literacy Week 2021’?
[A] Safe Internet Banking
[B] Financial Literacy for kids
[C] Financial Literacy amid a pandemic
[D] Credit Discipline and Credit from Formal Institutions
Show Answer
Correct Answer: D [Credit Discipline and Credit from Formal Institutions]
Notes:
Reserve Bank of India leads the observance of the Financial Literacy Week since 2016, to create awareness about financial education.
This year, it is being observed from February 8-12, 2021, with the theme of ‘Credit Discipline and Credit from Formal Institutions’. RBI is also conducting mass media campaigns in the month of February to promote financial awareness.
45. What is S&P’s growth projections for India for the next financial year?
[A] 9%
[B] 10%
[C] 15%
[D] 20%
Show Answer
Correct Answer: B [10%]
Notes:
Global Ratings major “S&P Global Ratings” has projected Indian economy to grow at 10% for the next financial year 2021-22.
This is 1% less than the growth projections made by the Economic Survey (11%) for the next financial year. S&P’s projections is based on continued normalisation of economic activities in India.
46. Which bank in India has linked a deal for borrowing linked to SOFR (Secured Overnight Financing Rate)?
[A] Indian Bank
[B] PNB
[C] SBI
[D] Bank of Baroda
Show Answer
Correct Answer: C [SBI]
Notes:
India’s largest lender the State Bank of India has inked a deal for External Commercial Borrowing (ECB) which is linked to SOFR (Secured Overnight Financing Rate). SBI would be borrowing USD 100 million for 5 years linked to SOFR via the ECB route.
In addition to SBI, Indian Oil Corporation Ltd (IOCL) has also inked a similar ECB agreement linked to SOFR.
47. Who is the head of RBI’s standing external advisory committee to evaluate applications for universal banks and small finance banks (SFBs)?
[A] Usha Thorat
[B] Raghuram Rajan
[C] Nandan Nilekani
[D] Shyamala Gopinath
Show Answer
Correct Answer: D [Shyamala Gopinath]
Notes:
The nation’s apex bank – Reserve Bank of India has set up a standing external advisory committee that would examine and evaluate the applications received for universal banks and small finance banks (SFBs).
This committee will have 5 members and is headed by the former RBI deputy governor Shyamala Gopinath as the chairperson.
48. As per the recent report released by the S&P Global Ratings in April 2021, what is the growth forecast of India in 2021?
[A] 6 per cent
[B] 8 per cent
[C] 11 per cent
[D] 14 per cent
Show Answer
Correct Answer: C [11 per cent]
Notes:
The S&P Global Ratings in its report on Asia-Pacific Financial Institutions, highlighted that the Indian economy is projected to grow at 11 per cent in the current fiscal year.
The agency also revealed that some more targeted lockdowns will likely be needed and the impact of broader lockdowns on the economy could be substantial. As per official estimates, the Indian economy contracted 8 per cent in 2020-21 fiscal.
49. Which bank has launched digital platform ‘Merchant Stack’ to provide banking services to retail merchants?
[A] HDFC Bank
[B] ICICI Bank
[C] Axis Bank
[D] Yes Bank
Show Answer
Correct Answer: B [ICICI Bank]
Notes:
India’s leading private lender ICICI Bank recently launched a digital platform ‘Merchant Stack’ to serve over 2 crore retail merchants in the country.
The main features include instant credit facilities, zero-balance current account and digital store management. It provides ‘contactless’ banking services and dynamic credit limit to the customers.
50. What is S&P Global Ratings’ new GDP forecast for India in 2021-22?
[A] 16%
[B] 11%
[C] 10%
[D] 9.8%
Show Answer
Correct Answer: D [9.8%]
Notes:
India’s GDP forecast for the FY 2021-22 has been revised to 9.8% by S&P Global Ratings recently. The rating has been downgraded from its earlier projections of 11%.
This downgrade comes in the wake of the second COVID wave in India. The agency stated that the second wave could weaken the economic recovery.
