Banking and Financial Awareness for SBI, IBPS RRB & NABARD Exam 2021 | Set – 66

Correct Answer – C. Axis Bank

Explanation: Mastercard, Mumbai Metro and Axis Bank announced the launch of ‘One Mumbai Metro Card’, to ensure contactless and cashless travel for Mumbaikars. It is a prepaid, open loop contactless card which can be used as a part of the daily transit journey with just a tap. With this solution, Mastercard has conti nued to contribute in changing the way India commutes and helping the transit eco-system go completely digital. This is a card that can be used for all daily purchases from food, groceries, medicines as well as tickets.

Correct Answer – B. LIC

Explanation:Life Insurance Corporation (LIC) has launched new health insurance plan called ‘Arogya Rakshak’, which is a non-linked, non-participating, regular premium and individual health insurance plan. It will provide fixed health insurance cover against certain specified health risks and provides timely support in case of medical emergencies.

Correct Answer –B. RBI

Explanation: Govt has launched Bad Bank with all the regulatory approvals in place for stressed assets as a measure to clean up bank books.  It was announced by Finance Minister Nirmala Sitharaman in her Budget Speech 2021-22. RBI is the regulator of Asset Reconstruction Companies (ARCs). RBI has already prescribed a regulatory framework for the functioning of ARCs and there are well-laid norms for transfer of stressed assets by banks and non-banking finance companies to ARCs. Identification of non-performing assets by an ARC is an ongoing process, the Minister stated.

Correct Answer – A. SBI

Explanation: SBI has selected Paisalo Digital as its National Corporate Business Correspondent in order to boost financial inclusion drive with the help of kiosk-based banking services. Paisalo Digital Limited is systemically important Non-Deposit taking NBFC registered with RBI.

Correct Answer – B. HDFC Ltd

Explanation: International Finance Corporation (IFC), the investment arm of the World Bank Group has provided $250 million loan to HDFC Ltd for green housing. Green housing is regarded as a luxury market in the country, but has climate benefits. Green affordable housing can help India on its path to deliver on its commitments under the Paris Agreement, to reduce a third of its carbon emissions by 2030 from 2005 levels. Green and energy-efficient housing can help cut emissions, as residential housing accounts for about 24 percent of the nation’s electricity consumption.

Correct Answer – B. Senegal

Explanation: Export Import (Exim) Bank of India said it has extended a USD 35.26 million loan for a power transmission project being executed by Kalpataru Power Transmission in Senegal. The buyer’s credit facility was extended under the National Export Insurance Account (NEIA) scheme, which provides a safe mode of financing option to Indian project exporters backed by cover from NEIA Trust. The bank signed a credit agreement with the Ministry of Economy, Planning and Co-operation of the Republic of Senegal for the purpose of construction and installation of 225 kV overhead transmission line from Tanaff to Ziguinchor (approximate distance 92 km) and bay extensions in Tanaff and Ziguinchor in Senegal.

Correct Answer – D. 100 crore

Explanation:The National Asset Reconstruction Company (NARCL) is a legal entity now and has been registered with the Registrar of Companies (RoC) Mumbai.  According to data available with the Ministry of Corporate Affairs (MCA), NARCL was incorporated on July 7 with an authorised capital of Rs 100 crore and paid-up capital of Rs 74.6 crore. The Indian Banks Association (IBA) is likely to approach the Reserve Bank of India (RBI) this week to seek an ARC (asset reconstruction company) licence.  Last month, the IBA had filed an application with the MCA to incorporate NARCL and India Debt Management Company (IDMCL) for managing bad debt in the system. While NARCL is a registered company now, IDMCL is yet to become a legal entity.

Correct Answer – A. Kandla SEZ

Explanation: Kandla SEZ (KASEZ) has been awarded with IGBC Platinum Rating and is the First Green SEZ to achieve IGBC Green Cities Platinum Rating for Existing Cities. KASEZ is the oldest export zone in the country and has become the first green industrial city in India to receive a platinum rating in the industrial cities category. KASEZ has increased to 3.5 lakh trees from 25,000 trees in 2019.  Most of these trees have been planted post 2019, using Miyawaki forestation method. Apart from this, KASEZ also used plastic waste to line the artificial water bodies created inside the area to prevent water seepage and mix with the saline water.

Correct Answer –B. 9.5 per cent

Explanation: The International Monetary Fund (IMF) has sharply cut India’s economic growth projection by 300 basis points, from 12.5 per cent to 9.5 per cent for the financial year 2021-22 (FY22). The downward revision in the GDP growth rate is due to a lack of access to vaccines and the possibility of renewed waves of coronavirus. For FY23 (2022-23), IMF has estimated the gross domestic product (GDP) of India at 8.5 per cent, which is 160 basis points higher than its earlier projection of 6.9 per cent. In the case of the global economy, IMF has projected 6.0 per cent growth in 2021 and 4.9 per cent in 2022.

Correct Answer – B. 30.19%    

Explanation: RBI data has showed that digital payments in India have recorded a growth of 30.19% during the financial year which ended on March 2021. The newly constituted Digital Payments Index (RBI-DPI) in its report said that at the end of March 2021, the index rose to 270.59 from 207.84 the previous year. The RBI-DPI index has shown the significant growth in its index represents the rapid deepening and adoption of digital payments across India in the recent few years.