8th October 2022

The Credit Guarantee Scheme for Startups (CGSS)

The Credit Guarantee Scheme for Startups (CGSS) offers collateral-free loans up to a specified limit.
I.) The intention of the CGSS is to provide credit guarantees up to a specific limit against loans issued by MIs to finance eligible borrowers.
ii.) Under the scheme, the credit guarantee coverage would be transaction-based and umbrella-based.
iii.) Transaction-based guarantees will encourage lending by Banks/ NBFCs to eligible startups
iv.) The umbrella-based guarantee cover would give guarantees to Venture Debt Funds (VDF) established under SEBI’s AIF regulations (a rising area of funding in the Indian startup ecosystem), based on the nature of the funds collected and debt financing provided by them.

Which of the following statements is/are “Correct” with respect to the Credit
Guarantee Scheme for Startups (CGSS), established recently (in Oct’22) by the
Department for Promotion of Industry and Internal Trade (DPIIT)?
A. The intention of the CGSS is to provide credit guarantees up to a specific AC Team Msooes Sees
limit against loans issued by MIs to finance eligible borrowers.
B. The credit guarantee coverage would be transaction-based and umbrella
C. Transaction-based guarantees will encourage lending by Banks/ NBFCs to
eligible startups.

A – Only A
B – Only B
C – Only C
D – None of the Above
E – All the Above

RBI introduces a new SupTech.

On October 6, 2022, the governor of the Reserve Bank of India launched a new SupTech initiative named DAKSH-Reserve bank’s Advanced Supervisory Monitoring System to further strengthen the supervisory processes

What is the name of the SupTech app launched by the Reserve Bank of India (RBI) recently (on Oct ’22) to improve the supervisory monitoring system?

A – HomeCredit

B – DAKSH

C – Kissht

D – NAVI

HDFC Bank launches SmartHub Vyapar Merchant app for SMEs

In collaboration with minotoak innovations India, a merchant SaaS platform, HDFC Bank launched the SmartHub Vyapaar Merchant app, a one-stop merchant solution app designed to meet merchants’ daily business needs. The app facilitates instant, digital, and paperless merchant onboarding with 24×7 support via EVA chatbot to address any issues.

Which private sector bank collaborated with Minotoak Innovations India to launch the smartHub vyapar app to meet merchants’ day-to-day business needs?

A – Axis

B – HDFC Bank

C – Federal Bank

D – ICICI Bank

Unity Bank launched Shagun 501

Unity Small Finance Bank Limited (Unity Bank) launched Shagun 501, a special FD scheme at attractive interest rates This scheme will be made available for money deposited on or before 31st 2022. Under the scheme, the Unity Bank offers a 7.9% interest rate on a FD of 501 days for general customers and 8% for senior citizens.

Which bank has recently (Oct’22) launched Shagun 501, a special FD scheme with attractive interest rates?

A – Unity Small Finance Bank Limited

B – Capital Small Finance Bank Limed

C – Suryoday Small Finance Bank Limited

D – Utkarsh Small Finance Bank Limited

ICICI Bank launches ‘Smart Wire’

On October 7th, 2022, ICICI Bank Limited launched “smart wire”, an online solution to allow non-resident Indian (NRI) and resident customers to make SWIFT (Society for Worldwide Interbank Finance Telecommunications) based inward remittances through online. ICICI Bank is the 1st bank in India to introduce such a quick and easy online solution to receive inward remittaances.

Name the 1st bank in India that recently (in Oct’22) launched “smart wire” , an operation for a quick and easy online solution to receive inward remittances.

A – IDBI Bank Ltd

B – Kotak Mahindra Bank Ltd

C – Federal Bank Ltd

D – ICICI Bank Ltd

The World Bank cuts India’s GDP growth forecast to 6.5% for 2022-23

On October 6, 2022, the World Bank (WB), in its latest South Asian economic focus titled “Coping with Shock: Migration and Road to Resilience”, has declined the real gross domestic product (GDP) forecast for India for 2022–23 (FY23) to 6.5%, from an earlier estimate of 7.5%. For FY23–24, this project is 7%, and for FY24–25 it will be 6.1%.

What is the revised percentage of GDP growth forecast for India in the 2022-23 (FY23) report released (in Oct’ 22) by the World Bank?

A – 7.5%

B – 7%

C – 6.1%

D – 6.5%

NTPC signs an agreement with GE Gas Power.

On October 6, 2022, the National Thermal Power Corporation (NTPC) signed a first-of-its-kind memorandum of understanding (MoU) with GE Gas Power to explore the feasibility of hydrogen (H2) co-firing blended with natural gaspower plan in Gujarat.

The agreement is in the direction of meeting the objectives of the national hydrogen mission (NHM).

With whom did Maharatna and GE Gas Power recently sign a Memorandum of Understanding to demonstrate hydrogen co-firing in gas turbines?

A – Bharat Petroleum Power Limited

B – National Thermal Power Corporation

C – Hindustan Petroleum Corporation Limited

D – Gas Authority of India Limited

Gulf Oil India appoints new brand ambassador

On October 6th, 2022, Gulf Oil India, a lubricant manufacturer, appointed Smriti Shriniwas Mandhana, an Indian cricket star, as its new brand ambassador. Mahendra Singh Dhoni and Hardik Himanshuu Pandaya will be her fellow famous cricketers and current brand ambassadors.

Smrithi Mandhnana was born on July 18, 1996 in Mumbai, Maharashtra. She is a professional Indian cricketer who plays for the Indian Women’s National team. She received the honourable ‘Arjuna Award’ in 2018 and the Rachel Hehoe Flint Trophy for the International Cricket Council (ICC) women’s cricketer of the year in 2021.

Which Indian female cricketer was recently (in Oct ’22) appointed as Gulf Oil India’s new brand ambassador?

A – Mithali Raj

B – Jhulan goswami

C – Harmanpreet kaur

D – Smriti Shriniwas Mandhana

Bank of India’s Subsidy Appoints a New CEO.

Mohit Bhatia has been appointed as the new chief executive officer of Bank of India Investment Managers Private Ltd., a wholly owned subsidiary of Bank of India, with effect from October 04, 2022. Prior to this appointment, he was the head of sales and marketing at Canara Robeco Asset Management Company.

Who was recently (in Oct’22) appointed as the chief executive officer of the Bank of India Investment Managers Private Ltd.?

A – Mallikarjuna Rao

B – Mohit Bhatia

C – Sajiv Chadha

D – Atanu Kumar Das

World Cotton Day

The United Nations (UN)’s World Cotton Day is annually observed across the globe on October 7th to show the enduring positive impact of cotton and raise awareness of the importance of cotton and related products. According to the Food and Agriculture Organization (FAO)of the United Nations, the theme for World Cotton Day 2022 is “Weaving a Better Furute for Cotton”. The World Cotton Day 2022 is opened by Qu Dongyu, FAO Director-general, to highlight the crucial role the cotton sector plays for members as well as its broader economic and relevance around the world.