1. Commerce ministry approved 16 projects under TIES (________________), to develop infrastructure for promoting exports. TIES was launched in 2016, with outlay of INR 600 crores. TIES has been launched for three years to 2020.
2. 2nd tranche of Bharat-22 Exchange Traded Fund (ETF), comprising shares of 22 companies, received bids worth Rs. 15,436 crore, much higher than government’s fund raising target of 6000 crores. There is also a green shoe option of INR 2400 crores, subject to government approval.
- Bharat 22 index was launched in November 2017, managed by ICICI Prudential Mutual Fund. It’s a part of the government’s disinvestment programme.
- Bharat 22 comprises 22 stocks including those of chosen Government enterprises, spanning six sectors - basic materials (4.4%), energy (17.5%), finance (20.3%), industrials (22.6%), FMCG (15.2%) and utilities (20%).
- ETFs are essentially index funds that are listed and traded on stocks exchanges just like regular shares.
3. SIDBI (_________________) and TransUnion CIBIL launched 2nd edition of MSME Pulse, a Quarterly Report on MSME Sector, providing precise data-driven insights to support policy as well as business decisions.
- Total commercial lending exposure in India is 54.2 lakh crores, with MSME segment constituting 12.6 lakh crores, with with Y-o-Y growth of 22% and 13% respectively in Micro and SME sectors.
- In Large corporate segment, NPA rates increased from 15.3% (in Mar’17) to 18% (in Mar’18). However, MSME NPA rates remained stable. In Micro segment, NPA rate moved from 8.9 % (in Mar’17) to 8.8 % (in Mar’18). In SME segment, NPA hovered between 11.4% (in Mar’17) to 11.2 % (in Mar’18). Recognized NPA exposure for MSME is 81000 Crores as on Mar’18.
- Private Banks and NBFCs have further increased their market share in Micro and SME lending from 27.5% and 9.1% in March 2017 to 30.3% and 10.9% in March 2018. Share of PSBs fallen from 57% to 50.4% in same period.
4. AU Small Finance Bank raised INR 1000 crores from ___________________ -based investment firm Temasek.
5. According to a new report by UN, Foreign Direct Investment to India decreased to 40 billion dollars last year from 44 billion dollars in 2016. Also, outflows from India have more than doubled in 2017-18.
- However, According to Department of Industrial Policy & Promotion (DIPP)'s Recent Report - FDI in India increased to US _____________________billion in 2017-18, from $60 billion Last year.
6. Accounting software solution firm Marg ERP partnered with ________________ to offer an integrated payments platform to Micro, Small and Medium Enterprise (MSME) customers. This will enable Bank’s current account holders to connect their bank accounts with MARG ERP software and undertake several digital transactions via RTGS, NEFT or IMPS directly from this platform, automate reconciliation of banking and accounting entries etc.
7. After success of India's largest Merger of SBI Associate Banks with SBI, government is planning another mega merger of Bank of Baroda, IDBI Bank, Oriental Bank and _______________. These banks has combined loss of INR 21646 crores last year. It will create India's second largest bank after SBI with a combined asset of INR 16.58 trillion.
8. As per Mobile Banking Volume and Value share List compiled by SBI for 2017-18 -
- Value -
- ___________
(17.2%), ICICI Bank (17.1%), SBI (16.8%, down from 44.4% a year ago).
- Paytm, the topper in Volume category, holds only .25% of total Value of Mobile Banking Transactions.
- Volume -
- Paytm (21.87 %), SBI (19.5%), Axis Bank (12.76%), ICICI Bank (9.7%).
- Mobile-banking usage seen a steep jump, rising to 1871 million in FY18, from 977 million in FY17 ?
9. As per World Bank report South Asia’s Hotspots: The Impact of Temperature and Precipitation Changes on Living Standards -
- Climate change might cost India __________________ of GDP, as Average annual temperatures will increase by 1-2 % by 2050.
- 60 crore Indians live in areas that could become moderate or severe hotspots of climate change by 2050.
10. As per official data of Q4 of 2017-18, Government debt increased by 1.7 % to INR 76,94,940 crores (from 75,66,215 crore in previous quarter), which is _______________ of GDP.
11. Asian Infrastructure Investment Bank (AIIB) approved investment of ___________________ in India’s National Investment & Infrastructure Fund (NIIF) to give greater impetus to mega infrastructure projects.
- AIIB is China led multilateral development bank set up in 2016. It has 83 member nations. India is second largest shareholder in AIIB (7.5 %), after China (26.06). It is headquartered in Beijing (China).
- NIFF was set up in December 2015 to catalyse funding into country’s infrastructure sector. It has been set up as a fund of funds structure with aim to generate risk adjusted returns for its investors alongside promoting infrastructure development. It has targeted corpus of Rs 40,000 crore to be raised over the years. 49% will be funded by government.
12. Banks Board Bureau (BBB) has recommended 22 general managers to be elevated as executive directors at various public sector banks (PSBs). This is the first major exercise undertaken by reconstituted BBB, headed by newly appointed Chairman ______________.
13. Bombay Stock Exchange (BSE) launched platform to make stock market listing attractive for startups in SME (small and medium enterprise) segment. For listing, A company needs to have a pre-issue paid up equity share capital of a minimum of Rs ______________ and must be in existence for a minimum period of 3 years on the date of filing draft prospectus with BSE.
14. Department of Telecom (DoT) raised fresh demand of around INR __________ crores ahead of merger deal between Vodafone India and Idea Cellular. As per DOT, Vodafone India merged all its arms into one company and these dues are related to one-time spectrum charges (OTSC).
- The merger of Vodafone India and Idea Cellular will create country’s largest mobile service operator with proposed name of Vodafone Idea Ltd. It will be worth over $23 billion with a 35 % market share and a subscriber base of around 43 crores.
15. Expenditure Finance Committee (EFC) approved revised cost (3466 Crores) and Extended Time Period (June 2020) for World Bank funded DRIP (_________________________________). DRIP is a state sector scheme with central component to improve safety and operational performance of selected dams.
- Participating States / Agencies are Damodar Valley Corporation, Karnataka, Kerala, Madhya Pradesh, Odisha, Tamil Nadu, Uttarakhand Jal Vidyut Nigam Limited and Central Water Commission.
16. Financial Services Firm __________________ acquired Orbgen Technologies, entity that operates Chennai-based online ticketing platform TicketNew, in a bid to enhance its entertainment ticketing business.
17. Financial Services Firm _______________ acquired mobile technology startup Cube26, to help it build its consumer engagement products in areas of social and content. Cube26 works with handset manufacturers and combines its software capabilities with hardware.
18. Global ratings agency _________________ revised down its outlook on ICICI Bank and Axis Bank.
- It downgraded ICICI Bank’s ‘support rating’ to ‘3’, from ‘2’, its support rating floor to ‘BB+’, from ‘BBB-’ .
- Axis Bank’s rating degraded to negative from stable, pointing to high proportion of NPAs.
19. Government simplified process for permission of Additional Fiscal Deficit Limit over and above 3 % of Gross State Domestic Product for States (GSDP). States will be eligible for flexibility of 0.25 % over and above this for any given year for which borrowing limits are to be fixed if their debt-GSDP ratio is less than or equal to ______________________ in preceding year.
- States will be further eligible for an additional borrowing limit of 0.25 % of GSDP for which borrowing limits are to be fixed if interest payments are less than or equal to 10 % of revenue receipts in preceding year. Flexibility in either of the 2 options or both will be available only if there is no revenue deficit in current and immediately preceding year.
- During 4th Meeting of Governing Council of NITI Aayog, States pointed-out that permission accorded by Department of Expenditure to eligible States were sometimes delayed due to bunching of proposals received from different States at different intervals into one consolidated approval. Government has henceforth decided to simplify process of approval of such additional borrowing limits requested by States.
20. Government will launch INR _________________ Credit Enhancement Fund (CEF) in July 2018 to facilitate infrastructure investments by insurance and pension funds, as announced in Budget 2016-17. It also helps borrower to raise loans at lower interest rates. Initial corpus crores will be sponsored by IIFCL (India Infrastructure Finance Company).
- IIFCL will hold 22.5% stake in NBFC, while Asian Infrastructure Investment Bank (AIIB) has been offered by Government to pick up 10% stake.
- At present, only $110 billion is being invested in infrastructure in India, against requirement of $200 billion, classifying India as a infrastructure deficit country.
21. Home Minister Rajnath Singh launched an Online Analytical Tool to facilitate closer monitoring of utilisation of foreign contributions, allowing to take evidence-based decisions regarding compliance of provisions of FCRA, 2010. Its dashboard will be integrated with the bank accounts of FCRA-registered entities through the Public Financial Management System for updation of transactional data on a real-time basis. FCRA Stands for _____________
22. _____________ received RBI’s approval for merger of Capital First, Capital First Home Finance and Capital First Securities with Itself. ?
23. Income Tax Department launched New Benami Transactions Informants Reward Scheme, to get people’s participation in Department’s efforts to unearth black money and reduce tax evasion.
- Under this, a person can get reward up to 1 crores for giving specific information in prescribed manner to Income Tax Department about benami transactions and properties, which are actionable under Benami Property Transactions Act 1988, as amended by Benami Transactions (Prohibition) Amendment Act 2016. Identity of persons giving information will not be disclosed.
- Giving details about undisclosed black money stashed abroad could fetch the informer up to INR ________ crores.
24. India GDP Growth Forecasts (June 2018) -
- World Bank forecasted growth rate of _________________ for India in 2017-18 and 7.5 % for next two years, making it fastest growing country.
- Fitch predicted India’s growth forecast to 7.3% for FY’18, 7.4% for FY’19 & 7.5% for FY’20.
25. Indian IT Firm ____________ acquired German IT services provider H&D International Group, one of largest IT service providers in German automotive industry ?
26. Indian rupee (INR) breached 69-level against US dollar for the first time, touching a record low of ______________ on higher crude oil prices and concerns of a US-China trade war.
27. Indians' Money in Swiss banks rose over __________ to Swiss Francs (CHF) 1.01 billion (Rs. 7,000 crore) in 2017, reversing a three-year downward trend.
28. India’s IT major _______________ became first listed company in India to close day’s trade with market capitalisation (m cap) of over INR 7 lakh crores (over $103 billion), as its board approved share buyback of 76,190,476 equity shares at INR 2100 per share for about 16000 crores. Buyback size was 1.99% of total paid-up equity share capital.
29. India’s fiscal deficit in FY 2017-18 stood at ____________________________ of GDP (in line with revised estimates). India revised its fiscal deficit target in February 2018 to 3.5% of GDP from 3.2% projected earlier. In FY 2018-19, aim is to trim deficit to 3.3% of GDP. Shortfall for 2017-18 was 5.9 trillion (6 Lakh Crores INR) ?
30. Insurance Regulatory and Development Authority of India (IRDAI) approved Life Insurance Corporation (LIC) to acquire a majority stake in IDBI bank, taking LIC's stake in IDBI bank to ________________, injecting 10,000-13,000 crores.
31. _____________ launched Deposit Only Card’ that enables hassle-free cash deposit transactions at bank’s 24X7 e-lobby services, specially meant for the bank’s current/overdraft customers.
32. __________________ signed bancassurance tie up with Aditya Birla Health and Birla Sunlife Insurance To provide insurance services to its customers ?
33. ____________ Government launched microfinance programme in co-operative sector, named Muttathe Mulla, to help ordinary people being exploited by private financiers charging exorbitant interest rates for loans. It is a joint initiative of cooperative banks and women neighbourhood network Kudumbashree.
Under this, Cooperative banks would give micro-finance loans to ‘Kudumbashree’ at an interest rate of 7 %, which members of neighbourhood network can avail at an interest rate of 12 % instead of 37-72% interest that private lenders charge.
34. ______________ government will provide financial grant of 1,000 rupees per quintal to farmers whose tur and gram could not be purchased by administration before May 31 deadline. State government had set up tur procurement target of 44.6 lakh quintals.
35. Ministry of Corporate Affairs released draft on cross-border insolvency in order to strengthen IBC (______________). It will help banks access overseas assets of company undergoing resolution.
- Existing IBC provides for two Sections related to cross border insolvency (Section 234 and 235), which are inadequate to effectively deal with default cases of domestic corporate debtor having assets and operations outside India.
- Existing provisions only allow Central government to enter into agreement with foreign country for enforcing provisions of Code.
- Draft norms have been issued to plug these loopholes and have any effective resolution mechanism in place for cross-border insolvency.
36. Ministry of Electronics and Information Technology (MeitY) will launch CRM (___________) a new system to assist banks in assessing credit risk and probability of fraud using big data analysis.
- This will help banks, particularly rural and cooperative banks, tackle issue of rising non performing assets (NPAs). Currently, rural and cooperative banks depend on judgement of bank manager, resulting in high NPAs and frauds.
- It will also help in predicting different types of frauds in banking sector based on RBI guidelines. Besides, a web-enabled software is also being tested to assist banks to easily adopt models for credit rating, NPAs and fraud. Validation of these models has been done using data from several banks.
37. Ministry of Housing & Urban Affairs approved 33 % increase in carpet area of houses eligible for interest subsidy under the CLSS (____________________) for Middle-Income Group (MIG) under Pradhan Mantri Awas Yojana (Urban) (PMAY-U).
- With revision, carpet area of a house for Middle Income Group-I (MIG-I) has been increased from 120 sqm to 160 sqm and for MIG II, area has been increased from 150 sqm to 200 sqm.
- New rules will be effective from January 1, 2017, date on which scheme became operational.
38. Mukesh Ambani-led Reliance Industries acquired Radisys Corporation, a US-based open telecom platform solutions provider for ___________ .
39. __________________ overtook Vodafone India to become 2nd largest carrier by revenue in India, with adjusted gross revenue (AGR) of 6,217 crore in March quarter compared to Vodafone’s 4,937 crores. Bharti Airtel is at top with AGR INR 7087 crores.
40. NSE (___________________) launched a ‘Tri-party Repo Market Platform’ for repurchase of corporate debt security. It is a repo contract where a tri-party agent acts as an intermediary to facilitate services like collateral selection, payment and settlement, custody and management during life of transaction.
- This would increase demand for corporate bonds and may provide a boost to much needed liquidity in corporate bond market.
- Under corporate bond repo a firm / bank pledges corporate bonds with another company or lender to garner funds. The entity, who pledges, agrees to repurchase bonds at a specified price.
- NSE will offer basket repo for 1 day to 7 days. NSE would act as tri-party agent and offer an online web based, anonymous, order matching and multilateral trading platform. Settlement of repo transactions shall be guaranteed by NSCCL.
41. Power distribution company BYPL signed MoU of 3 years with ______________, for collaborative activities in different areas, including energy efficiency and electric vehicles.
42. President Ram Nath Kovind approved promulgation of Insolvency and Bankruptcy Code (Amendment) Ordinance 2018, bringing changes in Insolvency and Bankruptcy Code ___________________, affecting mainly real estate and financial sectors. Notable changes are -
- Homebuyers will be Recognized as Financial Creditors, giving them due representation in Committee of Creditors (CoC).
- Promorters of MSMEs will be allowed to bid for their companies as long as they are not wilful defaulters. This corrects anomaly in section 29A of existing act that barred promoters of defaulting assets from bidding for their assets.
- Withdrawal of Insolvency Application will be permitted only if it is approved by 90% vote share of CoC. CoC voting threshold has been brought down to 66 % from 75 % for all major decisions.
- Other provisions -
- Addresses some issues such as non-entertainment of late bids, no negotiation with the late bidders and a well laid down procedure for maximizing value of assets.
- Exempts pure play financial entities from being disqualified on account of NPA and NPA acquired under Insolvency Code shall not disqualify an entity for the next three years.
- Successful resolution applicants will get a minimum one-year grace period to fulfill various statutory obligations.
- It also addresses much litigated issue of enforcement of guarantees.
43. RBI changed eligibility conditions of priority sector lending -
- Previous eligibility Changed eligibility From 28 lakh (for metropolitan cities) To _______________ AND From 20 lakh ( for other centres) To 25 lakh. These changes are valid till overall cost does not exceed 45 lakh for metropolitan and 30 lakh for other centres.
- Existing limit of family income of 2 lakh per annum has been changed to to 3 lakh per annum for economically weaker group and 6 lakh for low income groups.
44. RBI conducted Financial Literacy Week from June 4 on theme ‘__________________’. Last year’s theme of the week was, ‘Know Your Customer’.
45. RBI eased bad loan classification norms for micro, small and medium enterprises (MSMEs), to formalize economy further and create more jobs. loans to all MSMEs having credit facility of up to ______________ crore will now be classified as non-performing assets (NPAs) as per 180-days due criterion, rather than 90-days due criterion. This is done as a result of effect of GST on the small and medium enterprises. After January 2019, rules will fall back to normal 90 day regime for GST registered MSMEs.
46. RBI eased investment norms for FPIs (______________________) in debt, to attract more overseas flows and arrest recent fall in rupee on one hand and also lift recent fall in demand for corporate bonds.
- Corporate bond segment - FPIs are permitted to invest in corporate bonds with minimum residual maturity of above 1 year. The short-term investments in corporate bonds by an FPI shall not exceed 20% of total investment of that FPI in corporate bonds. residual maturity up to 1 year.
- Government securities (G-secs) - FPIs cap on investment in Government securities (G-secs) has been increased to 30% of outstanding stock of that security, from 20% earlier. FPIs were allowed to invest in government bonds with minimum residual maturity of three years.
- FPIs are permitted to invest in G-secs, including treasury bills (T-bills), and SDLs without any minimum residual maturity requirement. However, it will be subject to condition that short-term investments (residual maturity up to 1 year) by FPI under either category shall not exceed 20% of total investment of that FPI in that category. Short-term investments by an FPI may exceed 20% of total investments, only if investments are entirely made on or before April 2018, and not made after it.
47. RBI made PAN mandatory for remitting money abroad under Liberalised Remittance Scheme (LRS). Earlier PAN was not insisted upon for putting current account transactions of up to _____________. Under LRS, foreign remittances of upto USD 2,50,000 annually are allowed by resident individuals.
48. RBI made changes in GMS (________________) to make it more attractive -
- RBI allowed customers to deposit the gold in a broken time period where short term period of 1-3 years can be broken to 1 year 3 months , 2 years 3 months 15 days etc. Medium Term Period (5-7 years) and Long Term Period (12-15 years) can be broken as well. Interest rate is calculated as per number of years and remaining days.
- For pre-mature retrieval of Medium and Long term the amount would be in INR while 0.2% in INR would be deducted as administrative charges upon redemption in gold form.
- Interest for Medium and Long term can be calculated as per amount of gold in terms of rupees during at time of deposit.
- Interest rate vary from 2.25% to 2.5%.
49. RBI narrowed definition of relatives under the ‘maintenance of close relative’ category of LRS (_______________________) to check outflow of funds and prevent misuse of facility. Henceforth, funds under LRS can be sent only to immediate relatives such as parents, spouses, children and their spouses.
- Earlier in June 2018, RBI had made PAN mandatory for anyone using LRS for remitting money outside the country. Earlier PAN was not insisted upon for putting current account transactions of up to $25,000.
- Under LRS, foreign remittances of upto USD 2,50,000 annually are allowed by resident individuals.
50. RBI released draft guidelines to make rules stricter for larger borrowers to borrow working capital from banks. It specifies a minimum level of loan component in fund based working capital finance and a mandatory CCF (________________) for undrawn portion of cash credit availed by large borrowers.
- Cash Credit is a facility by banks in which, a company can withdraw an amount more than what it holds to its credit against security. It posses regulatory challenges such as rollovers, diffusion of liquidity management from borrowers to banks, and hindering of smooth transmission of monetary policy.
- Minimum level of ‘loan component’ - Borrowers having aggregate fund based working capital limit of 150 crore and above, need to withdraw a minimum of 40 % of limit as loan component and remaining as cash credit, from October 1, 2018.
- Ground rules for sharing of cash credit and loan components will be laid down by consortium, subject to guidelines on bifurcation.
- Amount of Working Capital Demand Loan (WCDL) will be fixed by banks, and tenure of shall not be less than seven days.
- Banks will have discretion to demand repayment of ‘loan component’ in instalments or by way of a ‘bullet’ repayment.
- Undrawn portion of cash credit / overdraft limits sanctioned will attract a credit conversion factor of 20 % from April 1, 2019.
- Current 40 % loan component will be revised to 60 % from April 1, 2019.
51. RBI stated that interest subsidy scheme on short-term crop loans of up to ____________ rupees will be implemented through Direct Benefit Transfer (DBT) mode from current FY. Centre earmarked 15000 crore rupees for 2018-19 towards interest subvention for short-term crop loans.
52. _____________ raised its stake in Swadhaar Finserve Pvt. Ltd to 100% from 60.48%, buying stake from US-based non-profit Accion.
53. Reliance Industries (RIL) and JM Financial Asset Reconstruction Company (JMF ARC) submitted proposal to acquire bankrupt textile company Alok Industries, for INR __________________ Crores, of which lenders will receive 4000 Crores, out of total 29500 Crores that Alok Industries owes to its creditors.
54. Reserve Bank of India (RBI) announced chnages in Monetary Policy Rates. New Rates are -
- New Rates -
- Repo Rate - _________________ (Increased from 6 %)
- Reverse Repo - 6.00 %
- Bank Rate - 6.50 %
- Marginal Standing Facility (MSF) Rate - 6.50 %
- Unchanged Rates -
- CRR (Cash Reserve Ratio) - 4 %
- SLR(Statutory Liquidity ratio) - 19.5 %
- 6 member monetary policy committee (MPC) of RBI is headed by RBI Governor Urjit Patel. In this meeting, RBI also decided to allow voluntary transition of Urban Co-Operative Banks (UCB) into Small Finance Banks (SFB). It is an outcome of recommendations made by Committee on Urban Cooperative Banks in August 2015 headed by Former RBI Deputy Governor R Gandhi. Panel recommended converting UCBs with business size of 20000 crores into regular banks in a bid to propel their growth.
- RBI proposed setting up of Board of Management (BoM) in all Urban Co-operative Banks (UCBs) having deposits of over 100 crores within one year, to strengthen governance.
55. Reserve Bank of India (RBI) will set up a PCR (______________) as a repository of information regarding loan information of individuals and corporate borrowers, as per recommendations of Y.M. Deosthalee committee. Committee Recommendations -
- RBI should set up a Public Credit Registry and this should be backed by a legal framework. PCR will work as a repository of all loan contracts, duly verified by reporting institutions for all / any lending in India, regardless of amount of loan.
- PCR should also capture data such as external commercial borrowings, market borrowings and should provide an holistic picture about borrower’s indebtedness. Borrowers should also be able to access their own history.
- PCR data will be available to all stakeholders such as banks on a need-to-know basis. The database should also be linked to defaulter databases such as those maintained by Export Credit Guarantee Corp, GST network etc.
56. Securities and Exchange Board (SEBI) approved amendments to buyback and takeover regulations and changed time for announcing price band of initial public offering (IPO) from 5 to ________________ days, based on suggestions made by regulator’s Primary Market Advisory Committee (PMAC).
57. Securities and Exchange Board of India (SEBI) constituted expert Group to look into existing ITP (___________________) framework and suggest measures to facilitate listing of startups. Group will look into existing ITP framework and suggest measures to facilitate listing of startups.
- ITP framework is window on stock exchanges where e-commerce, data analytics, bio-technology and other startups can list and trade on their shares. It allows companies to list without necessarily doing an Initial Public Offer (IPO) of equity. SEBI introduced it in 2013 to facilitate listing of new age companies, but it failed to gain any traction.
- ITP facilitates capital raising by start-up companies which are in their early stages of growth. It provides easier entry and exit options for investors like angel investors, Venture Capital Funds (VCFs) and Private Equities (PVs) etc.
- It also provide better visibility and wider investor base.
58. Securities and Exchange Board of India (Sebi) constituted an expert committee to recommend suitable framework to allow direct listing of Indian companies on overseas exchanges while allowing overseas companies to list directly on Indian exchanges.
- Currently, Indian companies can only use depository receipts route – Global Depository Receipts (GDR) or American Depository Receipts (ADR) – to list on overseas exchanges.
- Similarly, foreign companies can access Indian capital markets only through Indian Depository Receipts (IDRP) for listing of equities.
- _______________ is convenor of the committee.
59. Swedish caller ID service Truecaller acquired _____________________-based payments startup Chillr, marking its first acquisition in India. Founded in 2014, Chillr lets users send money directly between bank accounts using mobile numbers.
60. Task Force on Shell Companies was set up in February 2017 to check the menace of companies indulging in illegal activities including facilitation of tax evasion and commonly referred to as ‘Shell Companies’.
- Task Force has most notably compiled a database of shell companies by SFIO. This database comprises of 3 lists - Confirmed List (16537 entries), Derived List (16739 entries) and Suspect List (80670 entries).
- During FY 2017-18, Registrars of Companies (ROCs) removed names of 226166 companies (under Section 248 of Companies Act 2013), which had not filed their Financial Statements for continuous 2 years. Also, 309619 directors were disqualified.
- To help genuine corporates in regularizing their pending returns, Condonation of Delay Scheme 2018 was brought. It was effective from 1-01-2018 to 1-05-2018. Total 13,993 companies benefitted from the scheme.
- For 2nd drive to be launched during FY 2018-19, total _________________ companies have been identified for being struck-off, along with 7191 LLPs for action under section 75 of LLP Act 2008, due to non-filing of financial statements for 2015-16 and 2016-17.
61. US government arm Overseas Private Investment Corporation (OPIC) has given USD ______________ million loan to Grameen Impact Investments to support domestic small and medium enterprises. The financing to Grameen Impact, a non-banking financial company, comes through IndusInd Bank in the form of a loan guarantee agreement.
62. World Bank approved Ministry of Water Resources, River Development and Ganga Rejuvenation's Atal Bhujal Yojana (ABHY), with INR __________________ crores Expenditure. It is to be implemented from 2018-19 to 2022-23, with World Bank assistance. It aims to address criticality of ground water resources in a major part of country. Priority areas are Gujarat, Haryana, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan and Uttar Pradesh. Scheme is expected to benefit nearly 8350 Gram Panchayats in 78 districts in these states.
- Funds will be provided to states for strengthening ground water governance and encourage community involvement for improving ground water management.
- Scheme will have several positive outcomes like better understanding of ground water regime, focused community based approach for addressing issues related to ground water depletion, adoption of efficient water use practices to reduce ground water use for irrigation.
63. ____________ launched a new deposit scheme as first of many green retail products to be launched by bank. Bank aims to fetch INR 1000 crores through the scheme, called ‘Green Future : Deposit”. It supports Green Good Deeds campaign recently launched by Government. This would provide a peak interest of 7.5% and has a tenure of 18 months and 8 to 18 days. For senior citizens it would provide 8% interest. Bank also launched a pilot project for recycled dry waste generated at facilities.
64. _______________ received SEBI approval for acting as custodian of securities, enabling it to play a larger role in channelising domestic and foreign investments into Indian financial market and would enhance bank’s current capital market offerings.
