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Questions and Answers
What does VRRR stand for?
Variable Rate Reverse Repo
What is Hindustan Unilever's increased equity stake after LIC's augmentation?
What is India's DPI known as?
India tops the list of doping offenders in 2022. (True/False)
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Which Indian university has been ranked 22nd globally for business and management studies?
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Match the following countries with their ranking in the world artificial intelligence race according to a report by NetApp:
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What is the name of the healthcare solution provider that introduced Pholoton, a portable cooler designed for vaccine delivery in remote areas with limited electricity access?
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India becomes the __________-largest source country for new United States citizens, just behind Mexico.
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NATO is marking its 75th anniversary this year, and India is one of the current 32 member countries.
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What is SCORES and when was it launched?
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What are some of the key features of SCORES 2.0?
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IRDAI announced final rules on surrender value effective from April 1, 2024.
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Karnataka Bank raised Rs _____ crore through QIP.
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Match the following:
- CoinSwitch founder launches stock broking app
- PeepalCo
- Canara Bank launches loans for healthcare, savings accounts for women
- Canara Heal
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Study Notes
Financial Industry Updates
- SEBI launched a new version of the SEBI Complaint Redress System (SCORES 2.0), which aims to reduce the timeline for redressing investor complaints to 21 calendar days.
- Key features of SCORES 2.0 include:
- Auto-routing of complaints to concerned regulated entities
- Two levels of review, with the first review by the designated body and the second review by SEBI
- RBI data showed that credit cards in India breached the 100 million mark, with HDFC Bank leading the way with 19.81 million credit cards in circulation as of December 2023.
UPI Transactions
- UPI transactions ended FY24 with a record high of ₹199 lakh crore, with ₹196 crore in April and ₹204 crore in May.
- PhonePe partnered with Star Health Insurance to offer insurance with monthly payment options, and also partnered with eSewa and HAN Pokhara to promote UPI in Nepal.
Banking and Insurance
- Karnataka Bank raised ₹600 crore through a Qualified Institutional Placement (QIP) to enhance its financial strength and fuel growth.
- IRDAI announced the final set of rules on surrender value, effective from April 1, 2024, with surrender values remaining the same or lower if policies are surrendered within three years.
- ICICI Lombard General Insurance Company partnered with Policybazaar to expand its insurance distribution.
- SBI and Standard Chartered Bank carried out the first Credit Default Swap (CDS) trade worth ₹25 crore under new RBI guidelines.
- NIIF invested $200 million in iBUS to support the growth of India's digital infrastructure.
- J&K Bank introduced a virtual ATM facility in collaboration with Paymart India, allowing withdrawals of up to ₹2000 per transaction.
Other Important Updates
- Health insurers grew two times faster than the general insurance industry in FY24, with a 26.2% increase in total premium.
- AU Small Finance Bank launched an array of products, including a Rupay credit card and ATM insurance.
- IndusInd Bank piloted the RBI's e-rupee payments program with farmers, making it the first bank to do so.
- IRDAI removed the age bar for purchasing health insurance, effective from April 1, 2024.
- Airtel Payments Bank launched NCMC-enabled debit and prepaid cards, powered by RuPay.
- World Bank plans to provide $1 billion to SBI to support the expansion of Battery Energy Storage Systems (BESS) and electric mobility in India.
Regulations and Guidelines
- RBI proposed changes to the net-worth guidelines for payment aggregators, requiring a minimum net worth of ₹15 crore while applying for authorization and ₹25 crore by March 2028.
- SEBI approved Crisil's ESG ratings unit as a Category 1 provider of environmental, social, and governance (ESG) ratings.
- RBI released new guidelines for Asset Reconstruction Companies (ARCs), including a minimum capital requirement of ₹300 crore and a minimum Net Owned Fund (NOF) of ₹1000 crore.
Other Financial Updates
- SFBs seeking universal banking licenses need at least ₹1,000 crore net worth, according to RBI guidelines.
- Axis Bank surpassed Kotak Mahindra Bank to become the 4th largest bank in market value terms.
- SBI Card launched MILES credit cards with three variants.
- India's net household savings declined to 5.3% of GDP, according to RBI data.
- SEBI penalized BSE for inadequate fee payment on options contracts.### India Rankings and Achievements
- India ranks second globally in Hepatitis B and C cases, trailing behind China
- India emerges as the fourth largest exporter of digitally delivered services
- India ranks 10th in the Cybercrime Index, developed by the University of Oxford and UNSW Canberra
- India ranks fourth in global military spending at $83.6 billion in 2023
- India's passport is the second cheapest in the world, according to the Passport Affordability Rankings 2024
Business and Economy
- Adani Green Energy becomes the first Indian firm to reach 10,000 MW renewable energy capacity
- Tata Tech-BMW JV for auto software and business IT solutions
- Microsoft's VASA-1 brings images to life with AI
- Swiggy introduces 'Paw-ternity Policy' for pet parents
- Citroën becomes the first multinational carmaker to export EVs from India
- IRED opens GIFT City office to back green energy projects
Education and Research
- QS World University Rankings 2024: India is in the second spot in Asia in terms of the number of universities featured
- Indian Institute of Management (IIM) Ahmedabad ranked 22nd globally for business and management studies
- Jawaharlal Nehru University (JNU) is the highest-ranked university in India
- IIT Guwahati develops innovative 3D printed dummy ballot unit
Environment and Energy
- India's first multi-purpose green hydrogen pilot project inaugurated at Nathpa Jhakri Hydro Power Station
- India becomes second-largest source country for new United States citizens
- India takes top rank in world artificial intelligence race, according to NetApp report
- Apple and CleanMax collaborate to advance renewable energy in India
Government and Policy
- Centre notifies liberalised FDI norms for space sector to boost foreign investment
- 'One Vehicle, One FASTag' norm implemented by NHAI to prevent misuse of FASTags
- Ministry of Health and Family Welfare mandates linking of CGHS beneficiary ID with Ayushman Bharat Health Account (ABHA) ID
- New Rs 500 crore scheme to promote electric mobility kicks in from April 1
International Relations
- India-Kuwait relations strengthened with inaugural Hindi radio broadcast
- India takes top rank in world artificial intelligence race
- NATO celebrates 75 years of collective defense
- India secures 2nd overseas port with Sittwe after Chabahar in Myanmar
- India delivers BrahMos missiles to Philippines as part of $375 million deal
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Description
Learn about SCORES 2.0, a web-based centralized grievance redress system launched by SEBI. Understand its features, benefits and how it enables investors to lodge and follow up on their complaints.
