Joint Ventures and Financial Collaborations Quiz
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Questions and Answers

What is the main purpose of the joint venture companies formed by Jio Financial and BlackRock?

  • To finance solar projects
  • To provide loans to enterprises
  • To undertake mutual funds business (correct)
  • To manufacture financial products

    • How much has Jio Financial invested for a 50 percent stake in the joint ventures?

  • Rs 40 lakh
  • Rs 82.9 crore (correct)
  • Rs 10 crore
  • Rs 82.5 crore

    • Which company has partnered with Tata Power Renewable Energy for solar project financing?

  • ICICI Bank
  • IndusInd Bank (correct)
  • State Bank of India
  • HDFC Bank

    • What type of enterprises will benefit from the financing options offered by Tata Power Renewable Energy and IndusInd Bank?

    <p>Micro and Small Enterprises</p> Signup and view all the answers

    What is the range of loans provided for solar installations to MSEs?

    <p>Rs 10 lakh to Rs 2 crore</p> Signup and view all the answers

    For what amount is Jio Financial investing in Jio BlackRock Trustee?

    <p>Rs 40 lakh</p> Signup and view all the answers

    What aspect of the partnership between Tata Power Renewable and IndusInd Bank is highlighted?

    <p>It promotes collateral-free solar financing</p> Signup and view all the answers

    How many joint venture companies were incorporated by Jio Financial and BlackRock?

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

    What portion of the investment went towards Jio BlackRock Asset Management?

    <p>Rs 82.5 crore</p> Signup and view all the answers

    What is a key benefit for MSEs through the partnership of Tata Power and IndusInd Bank?

    <p>Collateral-free financing options</p> Signup and view all the answers

    What was the total value of UPI transactions in October 2024?

    <p>Rs 23.5 trillion</p> Signup and view all the answers

    By how much did the value of UPI transactions increase from September to October 2024?

    <p>14%</p> Signup and view all the answers

    What was the previous record for the number of UPI transactions before October 2024?

    <p>15.04 billion</p> Signup and view all the answers

    What was the total daily UPI transaction value reported in October 2024?

    <p>Rs 75,801 crore</p> Signup and view all the answers

    Which service contributed to the rise in digital transactions alongside UPI in October 2024?

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

    What new business did HDFC Securities enter into recently?

    <p>Wealth Advisory</p> Signup and view all the answers

    When was the Unified Payments Interface (UPI) first introduced?

    <p>April 2016</p> Signup and view all the answers

    Which payment system surpassed the previous transaction value peak of Rs 20.64 trillion?

    <p>Unified Payments Interface (UPI)</p> Signup and view all the answers

    What percentage did the UPI transaction volume increase from September to October 2024?

    <p>10%</p> Signup and view all the answers

    What is the minimum risk retention percentage proposed by SEBI for originators?

    <p>10 percent for the securitized pool</p> Signup and view all the answers

    Which bank has introduced a digital bank guarantee service?

    <p>Punjab &amp; Sind Bank</p> Signup and view all the answers

    What does the e-BG facility replace in traditional banking processes?

    <p>Paper-based bank guarantee issuance</p> Signup and view all the answers

    What percentage of risk retention is required for receivables with a maturity of up to 24 months?

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

    Who is the current chairman of SEBI?

    <p>Madhabi Puri Buch</p> Signup and view all the answers

    What was the establishment date of SEBI?

    <p>April 12, 1988</p> Signup and view all the answers

    Who will head the new service 'HDFC True' launched by HDFC Securities?

    <p>Pranab Uniyal</p> Signup and view all the answers

    What role does the RBI play regarding securities in India?

    <p>Setting standards for securities</p> Signup and view all the answers

    What is the target revenue range for clients of 'HDFC True'?

    <p>Rs 18 crore to Rs 400 crore</p> Signup and view all the answers

    In which city is the headquarters of SEBI located?

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

    What is the primary objective of the new 'HDFC True' service?

    <p>To leverage HDFC Securities’ client base and experience</p> Signup and view all the answers

    What is the aim of implementing the e-BG process for bank guarantee issuance?

    <p>Reduce turnaround time</p> Signup and view all the answers

    Which demographic is NOT targeted by the 'HDFC True' service?

    <p>Mass retail investors</p> Signup and view all the answers

    How many branches does HDFC Securities operate in India?

    <p>250 branches</p> Signup and view all the answers

    Which committee was instrumental in the establishment of SEBI?

    <p>Uday Kotak Committee</p> Signup and view all the answers

    What has the Securities and Exchange Board of India (SEBI) mandated regarding New Fund Offers?

    <p>To utilize NFO proceeds within 30 days of allotment</p> Signup and view all the answers

    What was the year of establishment for HDFC Securities Limited?

    <p>2000</p> Signup and view all the answers

    Who is the Managing Director and CEO of HDFC Securities?

    <p>Dhiraj Relli</p> Signup and view all the answers

    What is the benefit of the new rule imposed by SEBI on asset management companies?

    <p>Improved deployment of funds for timely investment</p> Signup and view all the answers

    Which type of clients is included in the target group for the 'HDFC True' service?

    <p>Family offices</p> Signup and view all the answers

    What is the total amount the government plans to raise in the second half of the fiscal year?

    <p>₹6.61 lakh crore</p> Signup and view all the answers

    How many SGrB issuances are planned by the government?

    <p>Four issuances</p> Signup and view all the answers

    What does SBI Innovation Hub allow participants to access within its environment?

    <p>Over 250 financial service APIs</p> Signup and view all the answers

    What is the primary purpose of the SBI Innovation Hub?

    <p>To simplify onboarding for FinTechs and startups</p> Signup and view all the answers

    What is the tenure of the bonds issued by the government as part of the SGrB?

    <p>10 years and 30 years</p> Signup and view all the answers

    When was the Reserve Bank of India (RBI) established?

    <p>1 April 1935</p> Signup and view all the answers

    What is the goal of the e-BBG process?

    <p>To shorten the time taken for issuing bank guarantees.</p> Signup and view all the answers

    Who is the current Governor of the Reserve Bank of India?

    <p>Shaktikanta Das</p> Signup and view all the answers

    Which bank is partnering with Mahindra Finance for co-branded credit cards?

    <p>RBL Bank</p> Signup and view all the answers

    What is required for FinTechs to collaborate and innovate effectively at the SBI Innovation Hub?

    <p>A single touchpoint for onboarding</p> Signup and view all the answers

    Which state is the headquarters of RBL Bank located in?

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

    What is the value of each bond issued under the SGrB?

    <p>₹5,000 crore</p> Signup and view all the answers

    Which entity partnered with SBI to launch the Innovation Hub?

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

    What is the purpose of the MuleHunter AI tool launched by RBI Innovation Hub?

    <p>To detect fraudulent mule accounts.</p> Signup and view all the answers

    Which entity holds a strategic stake in RBL Bank?

    <p>Mahindra Finance</p> Signup and view all the answers

    What year was Punjab & Sind Bank established?

    <p>1908</p> Signup and view all the answers

    Who is the MD & CEO of RBL Bank?

    <p>R Subramaniakumar</p> Signup and view all the answers

    What is the tagline of Punjab & Sind Bank?

    <p>Where service is a way of life</p> Signup and view all the answers

    In which area is the RBI Innovation Hub focusing its AI technology?

    <p>Fraud detection in accounts</p> Signup and view all the answers

    What percentage of stake does Mahindra Finance hold in RBL Bank?

    <p>3.53%</p> Signup and view all the answers

    Study Notes

    RBI Sets Criteria for Central Counterparty Authorization

    • The Reserve Bank of India (RBI) set a Rs 300 crore net worth criteria for entities seeking authorization or recognition as a Central Counterparty (CCP).
    • Entities must meet this net worth requirement at the time of submitting their application.
    • A CCP acts as a system provider, interposing between system participants in transactions.

    Jio Financial and BlackRock Incorporate AMCs

    • Jio Financial Services and BlackRock have incorporated two joint venture companies: Jio BlackRock Asset Management Private Limited and Jio BlackRock Trustee Private Limited.
    • Jio Financial has invested Rs 82.9 crore in these two companies, for a 50% stake.

    Tata Power Renewable and IndusInd Bank Partner

    • Tata Power Renewable Energy Ltd. partnered with IndusInd Bank to provide financing options to micro and small enterprises (MSEs) for solar installations.
    • This alliance offers collateral-free solar financing for MSEs, from Rs 10 lakh to Rs 2 crore.

    IRDAI Extends IFRS 17 Implementation Deadline

    • The Insurance Regulatory and Development Authority of India (IRDAI) extended the implementation timeline for IFRS 17 (International Financial Reporting Standard) regulations to FY27.
    • This gives ample time for bank-sponsored and non-bank-sponsored insurance companies to implement IFRS 17 regulations.

    Mintoak and Axis Bank Partner for SME Payments

    • Mintoak Innovations Private Limited (Mintoak), a merchant SaaS platform, partnered with Axis Bank to improve payment solutions for SMEs.
    • This partnership aims to make payment solutions more seamless for small and medium-sized enterprises.

    RBI's Diwali Initiative: Gold Transportation

    • The Reserve Bank of India (RBI) transported 102 tonnes of gold from the Bank of England to secure storage facilities in India.
      • As per the 43rd half-yearly report on the management of foreign exchange reserves (April-September 2024), the RBI holds a total of 854.73 metric tonnes of gold.

    DBS Bank India Awarded for Women's Initiatives

    • DBS Bank India received the "Best Companies for Women in India" (BCWI) 2024 award for the ninth consecutive year.
    • The bank is recognized for its commitment to gender equity and diversity in the "Best Companies - Hall of Fame".

    CSB Bank Launches SME Turbo Loan

    • CSB Bank launched the SME Turbo Loan, a new loan product to offer quick and seamless credit access to small and medium enterprises (SMEs).
    • The loan provides in-principle sanction for credit amounts up to Rs 5 crore, with facilities like overdrafts, term loans, and trade finance.

    Canara Bank Aims for ₹6,000 Crore Recovery

    • Canara Bank set a significant target for loan recovery, aiming to recoup approximately ₹6,000 crore from bad loans in the second half of FY25.
    • The bank anticipates recovering about ₹3,000 crore in both the third and fourth quarters of FY25 from written-off accounts.

    UPI Transactions Reach Record High

    • UPI transactions reached a record high in October 2024, with Rs 23.5 trillion in value.
    • This surge was driven by UPI, IMPS, FASTag, and AePS.

    HDFC Securities Enters Wealth Advisory Sector

    • HDFC Securities Limited, a subsidiary of HDFC Bank, entered the wealth advisory sector with the launch of 'HDFC Tru'.
    • The service targets High-Net-Worth Individuals (HNIs), Ultra-High-Net-Worth Individuals (UHNIs), family offices, and corporate clients.

    SEBI Mandates Mutual Funds to Utilize NFO Proceeds

    • SEBI mandates mutual funds to utilize New Fund Offer (NFO) proceeds within 30 days of allotment.

    Finance Minister Approves CGM Posts

    • Union Minister Nirmala Sitharaman approved the restructuring within nationalized banks by increasing the number of Chief General Manager (CGM) posts.
    • This restructuring was based on a review of the banks' business mixes as of March 31, 2023.

    SBI Mutual Fund Surpasses ₹10 Lakh Crore AUM

    • SBI Mutual Fund (SBI MF) surpassed the ₹10 lakh crore mark in assets under management (AUM) in the September quarter.
    • This marked a notable increase from ₹9.88 lakh crore in June.

    SEBI Proposes Minimum Investment for Securitized Debt Instruments

    • SEBI proposed a minimum investment threshold of ₹1 crore for RBI-regulated originators and unregulated entities engaged in securitisation activities.
    • The proposal also introduced limitations on the number of investors in private placements.

    Punjab & Sind Bank Launches Digital Bank Guarantee Service

    • Punjab & Sind Bank (PSB) launched an e-Bank Guarantee (e-BG) facility in partnership with NeSL.
    • This facility aims to reduce turnaround time for bank guarantee issuance.

    RBL Bank and Mahindra Finance Launch Co-Branded Credit Cards

    • Non-bank lender Mahindra Finance announced the launch of a co-branded credit card with RBL Bank.

    RBI Innovation Hub Launches MuleHunter AI

    • The Reserve Bank of India Innovation Hub (RBIH) launched MuleHunter AI, an artificial intelligence and machine learning model to identify mule accounts.

    India's GST Collection Hits Rs 1.87 Lakh Crore

    • India's Goods and Services Tax (GST) collections in October 2024 reached Rs 1.87 lakh crore, marking an 8.9 per cent year-on-year increase.

    IDFC FIRST Bank Introduces Real-Time Money Transfer Tracking

    • IDFC FIRST Bank, in partnership with Swift, introduced a real-time tracking service for international money transfers.
    • The service is available on its mobile app and internet banking platforms, enabling end-to-end traceability for cross-border payments.

    Canara HSBC Life Insurance Unveils Promise4Future Plan

    • Canara HSBC Life Insurance launched 'Promise4Future', a participating plan that combines life protection and savings.
    • The plan is available in two variants: Savings4Future and Income4Future.

    Banks Request Integration with RBI Platform for LRS Limits

    • Banks approached the RBI to integrate with the Centralised Information Management System (CIMS) to verify LRS (Liberal Remittance Scheme) limit utilization in real-time.
    • Indian citizens can remit up to $250,000 per financial year for permissible transactions under LRS.

    Regional Rural Banks Set for Fourth Round of Amalgamation

    • The number of Regional Rural Banks (RRBs) is likely to decrease from 43 to 28 through consolidation.
    • This will involve 27 RRBs from 12 states being consolidated into 12 RRBs.

    CARE Ratings Assigns Rating to Karur Vysya Bank's Fixed Deposit Scheme

    • CARE Ratings assigned an 'A1+' rating for short-term fixed deposits and an 'AA' (Stable) rating for fixed deposits to Karur Vysya Bank.

    Insolvency and Bankruptcy Board of India Collaborates with Indian Banks' Association

    • The Insolvency and Bankruptcy Board of India (IBBI) collaborated with the Indian Banks' Association (IBA) to facilitate asset auctions via the eBKray platform.

    Government of India and ADB Sign Loan for Urban Services

    • The Government of India and ADB (Asian Development Bank) signed a $200 million loan to upgrade water supply, sanitation, urban mobility, and other urban services in Uttarakhand.

    HUDCO to Lend Rs 11,000 Crore for Amaravati Greenfield Capital City

    • Housing and Urban Development Corporation Limited (HUDCO) agreed to lend Rs 11,000 crore to the Andhra Pradesh Capital Region Development Authority (APCRDA) for the construction of Amaravati.

    Deutsche Bank Boosting India Operations

    • Deutsche Bank infused ₹5,113 crore to boost its Indian operations. This marked the largest capital allocation to India by the bank in recent years.

    RBI Designates 10-Year Sovereign Green Bonds

    • The Reserve Bank of India (RBI) expanded the list of government securities available for non-resident investment under the Fully Accessible Route (FAR) by designating 10-year Sovereign Green Bonds (SGrBs).
    • These bonds will be issued by the government in the second half of FY2024-25.

    SBI Unveils Innovation Hub at Singapore Fintech Festival

    • SBI, in partnership with APIX, launched the SBI Innovation Hub at the Singapore Fintech Festival.

    S&P Global Market Intelligence Forecasts India's GDP Growth

    • S&P Global Market Intelligence projected India's GDP growth at 6.8% in FY25 and 6.6% in FY26.

    RBI Updates KYC Rules

    • RBI introduced six amendments to its KYC Master Directions to enhance verification and security in the Know Your Customer (KYC) process.

    SEBI Bars OCAL and Promoters from Securities Markets

    • SEBI barred Onelife Capital Advisors Limited (OCAL) and its promoters from participating in the securities markets.

    HDFC Bank Increases Lending Rates

    • HDFC Bank revised its Marginal Cost of Funds-Based Lending Rates (MCLR) for various short-term tenures.

    IFC Partners with Bajaj Finance to invest $400 million

    • IFC partnered with Bajaj Finance in climate initiatives.
    • The partnership aims to provide expanding access to financing for electric three-wheelers and e-scooters.

    Finance Ministry Launches Union Bank's Nari Shakti Branches

    • Finance Minister Nirmala Sitharaman inaugurated five specialized "Nari Shakti" branches of Union Bank of India.
    • The branches are designed to support financial inclusion and women entrepreneurial, support, especially in manufacturing and service sectors.

    Sitharaman Launches MSME Outreach, Expands SIDBI

    • Union Minister Nirmala Sitharaman launched the National MSME Cluster Outreach Programme.
    • This initiative is jointly organized by DFS, MoF, and SIDBI.

    Cashfree Payments Pilots Cross-Border Payments

    • Cashfree Payments launched a pilot program to facilitate cross-border payments using UPI and RuPay options.
    • This program enables overseas customers to transact with key Indian merchants.

    IRDAI Chairman Advocates 100% FDI in Insurance Sector

    • IRDAI Chairman Debasish Panda advocated for 100% Foreign Direct Investment (FDI) in the insurance sector.

    RBI Imposes Penalty on South Indian Bank

    • RBI imposed a ₹59.20 lakh penalty on the South Indian Bank for non-compliance with directives regarding interest rate on deposits and customer service standards.

    ADB Issues First Biodiversity Bond

    • The Asian Development Bank (ADB) issued its first biodiversity and nature-focused bond worth USD 100 million.

    Government To Provide Protection To Bankers

    • The government plans to amend the Prevention of Corruption Act (PCA) to protect bankers from post-retirement harassment.

    SEBI To Review Proposal To Demerge Equity Exchanges

    • SEBI is evaluating a demerger proposal for equity stock exchanges and their associated equity clearing corporations (CCs).

    October Retail Inflation Hits 14-Month High

    • Retail inflation reached a 14-month high of 6.21% in October, boosted by a sharp jump in vegetable prices.

    ICICI Prudential Multi-Asset Fund Reaches Milestone

    • ICICI Prudential Multi-Asset Fund completed 22 years of robust performance, exceeding ₹50,495.58 crore in AUM as of September 30, 2024.

    India's Public Sector Bank Performance in H1FY25

    • Public Sector Bank (PSB) aggregate business reached ₹236 trillion in H1FY25, exhibiting strong, 11% annual growth.

    Tata AIG General Insurance Launches Health Insurance Plans

    • Tata AIG General launched five new health insurance plans.

    RBI's New Framework for Converting FPI Holdings to FDI

    • RBI introduced a framework allowing Foreign Portfolio Investors (FPIs) to convert their investments into Foreign Direct Investment (FDI), exceeding the 10% equity threshold in Indian companies.

    RBI Maintains SBI, HDFC, and ICICI as D-SIBs

    • RBI confirmed that SBI, HDFC Bank, and ICICI Bank continue to be classified as Domestic Systemically Important Banks (D-SIBs).

    Federal Bank Issues Infrastructure Bond

    • Federal Bank raised ₹1,500 crore through its first 10-year infrastructure bonds.

    Reserve Bank of India Infuses Liquidity

    • The Reserve Bank of India infused ₹6,956 crore amid liquidity shifts towards deficit.

    J&K Bank Launches Virtual ATM Facility

    • J&K Bank launched a virtual ATM (vATM) facility for customers in collaboration with Paymart India.

    Goldman Sachs Estimates India's GDP Growth

    • Goldman Sachs estimated India's GDP growth to decline to 6.3% in 2025.

    Public Sector Banks Aim to Raise Equity

    • Public Sector Banks (PSBs) received approval to raise ₹25,200 crore in FY25 through equity markets.

    Axis Bank's Asset Book in GIFT City Doubles

    • Axis Bank's asset book at its IFSC Banking Unit (IBU) in GIFT City doubled from $2 billion (2019) to $4 billion.

    World Bank Boosts Climate Financing

    • As a result of sovereign guarantees from the US and Japan, the World Bank will significantly expand climate-related lending for global climate projects.

    RBI Doubles UPI 123Pay Limit

    • RBI doubled the limit for UPI 123Pay transactions for feature phones, increasing it to ₹10,000.

    Zomato to Replace JSW Steel on BSE Sensex

    • Zomato will replace JSW Steel in the benchmark BSE Sensex starting from December 23.

    Reserve Bank of India and Maldives Sign MoU

    • RBI and the Maldives Monetary Authority (MMA) signed a MoU to promote the use of local currencies in cross-border transactions.

    GenWise Launches UPI Payments

    • GenWise launched a UPI payment solution 'GenWise UPI' for the elderly population.

    Profectus Capital Raises Funding

    • Profectus Capital raised USD 25 million via NCDs to the International Finance Corporation (IFC).

    IndusInd Bank and UNICEF Join Forces

    • IndusInd Bank and UNICEF partnered to launch a strategic initiative focused on climate resilience, aiming to build climate-informed administrative frameworks and enhance resilience.

    Northern Arc Secures USD 65 Million

    • Northern Arc, a Non-Banking Financial Company (NBFC), secured USD 65 million from global development banks to launch its climate fund.

    Central Bank of India Gets RBI Nod for Insurance JV

    • Central Bank of India received RBI approval for an insurance joint venture with the Generali group.

    PNB Joins PCAF, Strengthens Climate Action

    • Punjab National Bank (PNB) become a signatory of the Partnership for Carbon Accounting Financials (PCAF).

    Canara HSBC Life Unveils OmniGen AI

    • Canara HSBC Life Insurance launched OmniGen AI system, designed to improve underwriting decisions using data-driven insights.

    SBI Launches Low-Cost Vehicle Loan

    • SBI launched a low-cost customized vehicle loan for Uber's fleet partners.

    ICRA: India's GDP Growth Projection

    • India's GDP growth is projected to slip to 6.5% in Q2 FY25 but retain 7% for FY25.

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    Description

    Test your knowledge on the joint ventures formed by Jio Financial and BlackRock, along with their partnerships in solar project financing. This quiz covers investment details, loan provisions, and the benefits offered to MSEs through these collaborations. Dive into the specifics of financial strategies and market impact!

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