Indian Regulatory Authorities and Energy Projects
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Questions and Answers

What is the new minimum capital requirement for asset reconstruction companies as per the Reserve Bank of India?

  • Rs 150 crore
  • Rs 100 crore
  • Rs 300 crore (correct)
  • Rs 200 crore

    • As of October 11, 2022, what is the initial capital requirement that asset reconstruction companies must meet by March 31, 2024?

  • Rs 150 crore
  • Rs 200 crore (correct)
  • Rs 250 crore
  • Rs 100 crore

    • What role does the Reserve Bank of India play in the functioning of asset reconstruction companies?

  • Owner of all ARCs
  • Granting of Certificate of Registration (CoR) (correct)
  • Regulating interest rates for ARCs
  • Providing funding to ARCs

    • What is the maximum age limit for a Managing Director or Chief Executive Officer in an ARC as per governance requirements?

    <p>70 years</p> Signup and view all the answers

    What must every asset reconstruction company maintain regarding its capital adequacy ratio?

    <p>Minimum of 15% of its total risk weighted assets</p> Signup and view all the answers

    What is the primary purpose of an asset reconstruction company (ARC)?

    <p>To buy Non-Performing Assets from banks</p> Signup and view all the answers

    When will the regulation regarding the new minimum capital requirement for ARCs take effect?

    <p>April 24, 2024</p> Signup and view all the answers

    What is the minimum net worth required for Small Finance Banks to convert into Universal Banks?

    <p>Rs1000 crore</p> Signup and view all the answers

    What is the significance of the Net Owned Fund (NOF) requirement for ARCs?

    <p>It ensures ARCs have sufficient capital for operations.</p> Signup and view all the answers

    How long must an SFB have a satisfactory track record to be eligible for conversion into a UB?

    <p>5 years</p> Signup and view all the answers

    What is the prescribed Capital to Risk-Weighted Assets Ratio (CRAR) requirement for SFBs to convert into UBs?

    <p>15%</p> Signup and view all the answers

    Who topped the Forbes 2024 Billionaires List?

    <p>Bernard Arnault &amp; family</p> Signup and view all the answers

    Which individual is ranked as the only Indian in the top 10 of the Forbes 2024 Billionaires List?

    <p>Mukesh Ambani</p> Signup and view all the answers

    At what age is Nikhil Kamath recognized as the youngest Indian billionaire?

    <p>37 years</p> Signup and view all the answers

    Which of these billionaires has a net worth of $195 billion?

    <p>Elon Musk</p> Signup and view all the answers

    Which requirement is NOT part of the eligibility criteria for SFBs to transition into UBs?

    <p>Listing on a foreign stock exchange</p> Signup and view all the answers

    What is the primary cause of the drought that Zimbabwe is experiencing?

    <p>El Nino-induced drought</p> Signup and view all the answers

    What significant milestone is NATO commemorating this year?

    <p>75th anniversary</p> Signup and view all the answers

    Which country's President has begun his third term, extending tenure until 2030?

    <p>Egypt</p> Signup and view all the answers

    What percentage of Zimbabwe is affected by the drought according to President Mnangagwa?

    <p>Over 80%</p> Signup and view all the answers

    What is India's goal regarding urea imports by the end of 2025?

    <p>Halt urea imports by boosting domestic production</p> Signup and view all the answers

    Who was elected as Ireland’s youngest-ever prime minister?

    <p>Simon Harris</p> Signup and view all the answers

    What key issues are exacerbating the drought in Zimbabwe?

    <p>Climate change</p> Signup and view all the answers

    What was Simon Harris's position before becoming prime minister?

    <p>Minister of Health and Higher Education</p> Signup and view all the answers

    What is the main goal of the partnership between PayU and PayPal?

    <p>To enhance cross border payment experience for Indian merchants</p> Signup and view all the answers

    How does the Aadhaar ATM service introduced by IPPB primarily function?

    <p>On the principle of the Aadhaar Enabled Payment System (AePS)</p> Signup and view all the answers

    Which feature of the Global Collaborative Co-Financing Platform is meant for sharing project pipelines?

    <p>Co-Financing Portal</p> Signup and view all the answers

    What technological solution does PayU implement for a more efficient merchant onboarding process?

    <p>Artificial intelligence (AI)-driven approach</p> Signup and view all the answers

    What is one of the aims of the Co-Financing Forum within the Global Collaborative Co-Financing Platform?

    <p>To provide a platform for sharing best practices and common issues</p> Signup and view all the answers

    Which payment methods will be offered to customers at checkout through the partnership with PayU and PayPal?

    <p>PayPal, PayPal Pay later, and various local Alternative Payment Methods</p> Signup and view all the answers

    Which organizations were involved in launching the Global Collaborative Co-Financing Platform?

    <p>10 Multilateral Development Banks</p> Signup and view all the answers

    Where will the Co-Financing Portal be hosted?

    <p>At the World Bank</p> Signup and view all the answers

    What is the capability of the newly inaugurated green hydrogen pilot project at NJHPS?

    <p>It can cater to the high-velocity oxygen fuel coating facility.</p> Signup and view all the answers

    What type of electrolyzer is used in the green hydrogen plant?

    <p>Alkaline electrolyzer</p> Signup and view all the answers

    Which organization launched the START Online Training Program?

    <p>Indian Space Research Organisation (ISRO)</p> Signup and view all the answers

    What is the duration for which the START 2024 program is set to be conducted?

    <p>April and May 2024</p> Signup and view all the answers

    What is the capacity of the fuel cell associated with the green hydrogen pilot project?

    <p>25 kilowatt (kW)</p> Signup and view all the answers

    From where does the renewable energy used in the green hydrogen plant originate?

    <p>1.31 MW solar power plant at Wadhal</p> Signup and view all the answers

    What is the name of the individual who inaugurated the green hydrogen pilot project?

    <p>Geeta Kapur</p> Signup and view all the answers

    Which of the following identifies the main target audience for the START 2024 program?

    <p>Postgraduate and final year undergraduate students</p> Signup and view all the answers

    Study Notes

    IRDAI

    • IRDAI stands for Insurance Regulatory and Development Authority of India.
    • Chairperson of IRDAI is Debasish Panda.
    • Founded in 1999.
    • Headquarters are in Hyderabad, Telangana.
    • Owned by the Ministry of Finance, Government of India.

    Reserve Bank of India's Master Direction on Asset Reconstruction Companies

    • RBI issued a master direction for Asset Reconstruction Companies (ARCs), effective from April 24, 2024.
    • The direction raises the minimum capital requirement to begin securitization to Rs 300 crore from Rs 100 crore.
    • The direction provides a glide path for ARCs to achieve the required Net Owned Fund (NOF) of Rs 300 crore by March 31, 2026.
    • ARCs with an NOF of Rs 1,000 crore can act as resolution applicants.
    • ARCs can invest funds in government securities and deposits with scheduled commercial banks, SIDBI, NABARD.

    SJVN Limited Inaugurates India’s 1st Multipurpose Green Hydrogen Pilot Project

    • SJVN Limited inaugurated India's first multipurpose green hydrogen pilot project at the Nathpa Jhakri Hydro Power Station (NJHPS) in Jhakri, Himachal Pradesh.
    • The project will cater to the HVOF coating facility of NJHPS and generate electricity through a fuel cell.
    • The project utilizes a 20 Nm^3/Hr alkaline electrolyzer to produce hydrogen gas from water.
    • The project uses renewable energy from SJVN's solar power plant in Wadhal, Himachal Pradesh.

    ISRO Launches ‘START’ Online Training Program for Space Science Enthusiasts

    • ISRO launched ‘Space Science and Technology Awareness Training (START)’, an online training program for space science enthusiasts.
    • The program targets PG and final year undergraduate students in physical science and technology.
    • The program will be conducted during April and May 2024.
    • ISRO solicits Expressions of Interest to host START 2024 in institutes, universities, and colleges across India.

    RBI Lays out Framework for Voluntary Transition of Small Finance Banks(SFBs) to Universal Banks(UBs)

    • RBI laid out a framework for the voluntary transition of Small Finance Banks (SFBs) to Universal Banks (UBs).
    • The framework outlines eligibility conditions for conversion into UBs.
    • The eligibility criteria include:
      • Minimum net worth of Rs 1000 crore.
      • Scheduled status with a satisfactory track record of performance for 5 years.
      • Meeting the prescribed Capital to Risk-Weighted Assets Ratio (CRAR) of 15%.
      • Listed shares on a recognized stock exchange.

    Forbes World’s Billionaires List 2024: Indian Billionaires Make Their Mark

    • Mukesh Ambani, Chairman and Managing Director of Reliance Industries Limited (RIL), is the only Indian in the top 10 billionaires globally.
    • Nikhil Kamath, cofounder of Zerodha, is the youngest Indian billionaire in the Forbes list at the age of 37.

    National News

    • India aims to halt urea imports by the end of 2025 by boosting domestic production and promoting alternative fertilizers.
    • India currently relies on imports for 30% of its annual urea demand.

    PayU partners with PayPal to enhance cross border payments for Indian merchants

    • PayU, a leading online payment solution, has partnered with PayPal to improve cross-border payments for Indian merchants.
    • PayU will leverage PayPal ISU2.0 API to provide customers a personalized, secure, and inclusive payment experience.
    • The partnership will simplify merchant onboarding and allow Indian merchants to open PayPal accounts using AI.
    • Customers will be offered various payment methods like PayPal, PayPal Pay later, and local Alternative Payment Methods (APMs).

    10 Multilateral Development Banks (MDBs) Launched new “Global Collaborative Co-Financing” Platform

    • 10 MDBs launched the Global Collaborative Co-Financing platform on the sidelines of the 2024 IMF and World Bank Spring meetings in Washington D.C.
    • The platform has two components:
      • Co-Financing Portal: a secure platform for registered co-financiers to share project pipelines.
      • Co-Financing Forum: a platform for discussion of co-financing opportunities, best practices, and common issues.

    IPPB Introduces Aadhaar ATM Service for Convenient Cash Withdrawals

    • The India Post Payments Bank (IPPB) has introduced the Aadhaar ATM service for its users.
    • The service works based on the Aadhaar Enabled Payment System (AePS) introduced by the National Payments Corporation of India (NPCI).

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    Description

    This quiz covers the basics of Indian regulatory bodies, including the Insurance Regulatory and Development Authority of India (IRDAI) and the Reserve Bank of India's directives regarding Asset Reconstruction Companies (ARCs). Additionally, it addresses the inauguration of India’s first multipurpose Green Hydrogen Pilot Project by SJVN Limited. Test your knowledge on these important developments in India's financial and energy sectors.

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