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The correct answer is ₹5 crore.

In News

• The initial paid-up capital of the Reserve Bank of India (RBI) when it began operations in 1935 was ₹5 crore.
• This capital was initially provided by private shareholders, and later, it was transferred to the Central Government.

Key Points

• The RBI’s initial paid-up capital was ₹5 crore, which laid the foundation for its operations as India’s central bank.
• The RBI’s capital base has grown significantly over the years, reflecting its role in managing the financial system and maintaining monetary stability in India.
• While the exact current paid-up capital is not specified, the RBI now operates with a substantial capital base as a key regulator in India’s economy.

Additional Information

• RBI’s Role in India
• The Reserve Bank of India is the central bank responsible for regulating India’s financial system, managing monetary policy, and ensuring economic stability.
• RBI’s operations include controlling inflation, managing currency, and ensuring the stability of the banking sector.
• On-Tap Licensing and Capital Requirements
• The RBI’s on-tap licensing policy for setting up new banks requires a minimum capital of ₹500 crore to ensure financial stability and regulatory oversight.

The correct answer is ₹20 lakh.

In News

• As per SEBI’s new guidelines, the minimum contract size for index derivatives is ₹15 lakh, and the maximum value of the contract can range from ₹15 lakh to ₹20 lakh.
• The revised contract size aims to regulate the market by setting appropriate levels of leverage and risk for participants.

Key Points

• The maximum value of an index derivative contract, as per SEBI’s new rules, can range between ₹15 lakh and ₹20 lakh.
• This change is part of the effort to regulate high-risk derivative trading and align contract sizes with market growth.
• Effective from November 20, 2024, SEBI's revised guidelines aim to reduce excessive speculative activity and manage risk better in the futures and options market.

Additional Information

• SEBI Derivatives Guidelines
• The guidelines focus on increasing the minimum contract size to ₹15 lakh and regulating contract sizes to reduce market risks.
• SEBI’s guidelines aim to make the F&O market safer for retail traders and improve overall market stability.
• Weekly Expiry and Tail Risk Coverage
• Weekly expiry contracts will be limited to one per exchange, and additional Extreme Loss Margin (ELM) of 2% will be applied to short options positions to manage risk.

The correct answer is ₹10 crore.

In News

• As per Section 45-IA of the RBI Act, 1934, NBFCs must have a Net Owned Funds (NOF) of ₹10 crore to commence or carry on business.
• The minimum NOF requirement will be applicable from October 01, 2022, for NBFCs seeking registration and for existing NBFCs by March 31, 2027.

Key Points

• The Net Owned Funds (NOF) requirement for NBFCs is ₹10 crore as per RBI regulations, effective from October 2022.
• Existing NBFCs have until March 31, 2027, to meet this NOF requirement.
• NBFCs seeking registration must have ₹10 crore NOF from the start (ab initio).
• Categories of NBFCs regulated by other authorities (e.g., SEBI, IRDA) are exempt from RBI registration and NOF requirements.

Additional Information

• Net Owned Funds (NOF)
• NOF is the minimum capital required for an NBFC to operate as per RBI regulations, ensuring financial stability and operations.
• NOF for NBFCs is set at ₹10 crore, and meeting this requirement is crucial for the registration and continuation of business activities.
• NBFC Registration
• NBFCs must register with the Reserve Bank of India to legally carry out their business activities.
• Certain categories of NBFCs, like those regulated by SEBI or IRDA, are exempt from registering with the RBI.

The correct answer is September 30, 2025.

In News

• The government has extended the benefits under the RoDTEP scheme for exports made from DTA units until September 30, 2025.
• The extension provides relief to exporters, allowing them to benefit from the remission of duties and taxes incurred during manufacturing and distribution.

Key Points

• The RoDTEP scheme has been extended to September 30, 2025, for exports made from DTA units, while the scheme for AA/EOU/SEZ units is extended until December 31, 2024.
• The extension ensures continued support for Indian exporters by refunding un-reimbursed duties and taxes related to their exports.
• The scheme will help boost India's export competitiveness and allow for better participation in global value chains.

Additional Information

• RoDTEP Scheme
• The RoDTEP scheme refunds duties and taxes that exporters incur during the manufacturing and distribution process but are not reimbursed by any other mechanism.
• The scheme is essential in helping Indian exporters remain competitive globally by reducing the cost burden of non-reimbursed taxes and duties.
• Impact on Exporters
• The extension of the scheme provides stability to exporters, helping them finalize new contracts and improve their competitiveness.

The correct answer is Switzerland.

In News

• The World Economic Forum (WEF) has its headquarters in Switzerland.
• The WEF is an international organization dedicated to improving global economic conditions, and its headquarters is in Cologny, a suburb of Geneva.

Key Points

• The WEF's headquarters is located in Cologny, Switzerland.
• The WEF is best known for organizing the annual meeting in Davos, which gathers business, political, and academic leaders from around the world.
• Switzerland is known for being a hub for international organizations, and the WEF is one of the major organizations based there.

Additional Information

• World Economic Forum (WEF)
• Founded in 1971, the WEF brings together leaders from business, government, and academia to discuss global issues.
• The WEF’s headquarters is in Cologny, near Geneva, Switzerland.

The correct answer is Deakin University and University of Wollongong.

In News

• Deakin University was the first Australian university to establish a campus in Gujarat International Finance Tec-City (GIFT City) in India, opening in January 2024.
• University of Wollongong followed as the second Australian university to establish a campus in GIFT City, inaugurating its campus on November 15, 2024.

Key Points

• Deakin University and University of Wollongong are the first two Australian universities to open campuses in GIFT City, India.
• Deakin University offers programs like Master of Business Analytics and Master of Cyber Security.
• UOW offers Master of Financial Technology and Graduate Certificate in Financial Technology programs.
• Both universities provide degrees with the same recognition and status as those issued by their parent campuses in Australia.

Additional Information

• GIFT City
• GIFT City is a financial hub in India, where foreign universities, like Deakin University and University of Wollongong, have established campuses.
• It aims to provide quality education with industry-relevant programs in fields like business analytics, cyber security, and financial technology.
• Financial Benefits and Collaboration
• UOW offers an inaugural scholarship to students enrolling in computing and financial technology programs.
• UOW has partnered with Odoo to provide students with industry-relevant skills in business software.

The correct answer is 1 and 3 only.

In News

• The FATF grey list includes countries that are closely monitored for their efforts to combat money laundering and terrorist financing.
• Countries on the grey list are required to implement specific action plans to improve their AML/CFT frameworks.

Key Points

• Statement 1 is correct: The FATF grey list is a public list of countries monitored for deficiencies in their anti-money laundering (AML) and combating terrorist financing (CFT) systems.
• Statement 2 is incorrect: Being on the grey list has significant consequences, including increased scrutiny, heightened due diligence requirements, and potential sanctions.
• Statement 3 is correct: Countries on the grey list are required to implement action plans provided by the FATF to improve their systems.
• Countries on the grey list face increased restrictions on cross-border financial transactions and may have their financial institutions subject to heightened reporting requirements.

Additional Information

• FATF Grey List
• The FATF grey list includes countries that are being monitored for deficiencies in their AML/CFT systems, with an emphasis on financial centers and jurisdictions with economic importance.
• Countries on the grey list are required to address identified deficiencies through concrete action plans.
• Consequences of Grey Listing
• Countries on the grey list face increased scrutiny from international organizations and financial institutions.
• They may face restrictions on cross-border financial transactions, impacting their global financial relationships.

The correct answer is Maharashtra and Tamil Nadu.

In News

• The report highlights Maharashtra and Tamil Nadu as the top two states with the highest share of MSMEs in India.
• Maharashtra accounted for 17% of the MSMEs, followed by Tamil Nadu with 10%, and Uttar Pradesh with 9%.

Key Points

• Maharashtra has the highest share of MSMEs in India, with 17% of the total MSMEs in the country.
• Tamil Nadu follows with the second-highest share of 10% of the MSMEs in India.
• Uttar Pradesh also plays a significant role, contributing 9% to the national share of MSMEs.

Additional Information

• Udyam Scheme
• The Udyam scheme is a government initiative designed to promote the growth of MSMEs across India.
• It offers several incentives by both the central and state governments to foster MSME development.
• Real Estate MSMEs
• The real estate sector plays a vital role in the MSME landscape, with opportunities for unorganised sectors to register as MSMEs.
• Real estate MSMEs can benefit from zero collateral loans, reduced interest rates, and electricity consumption concessions.

The correct answer is Japan.

In News

• India and Japan signed a Memorandum of Implementation (MOI) on November 15, 2024, to co-develop UNICORN masts for the Indian Navy.
• The collaboration aims to enhance the stealth capabilities of the Indian Navy by integrating advanced communication systems into a single mast structure.

Key Points

• The MOI signed between India and Japan marks the first co-development of defense equipment between the two nations.
• Japan will provide expertise in the design and development of the UNICORN mast, while Bharat Electronics Limited (BEL) will handle the implementation and production in India.
• This collaboration enhances the stealth features of Indian Navy ships by integrating multiple communication systems into the UNICORN mast.
• The agreement is part of the broader India-Japan Defence Technology Cooperation framework.

Additional Information

• UNICORN Mast
• UNICORN stands for Unified Complex Radio Antenna, designed to enhance naval stealth capabilities by integrating communication systems.
• The mast will be co-developed by Bharat Electronics Limited (BEL) with Japanese expertise, marking the first such collaboration between India and Japan in defense technology.
• India-Japan Defense Cooperation
• This agreement falls under the broader framework of the India-Japan Defence Technology Cooperation agreement.
• The collaboration strengthens defense ties between the two countries and aims at the development of advanced military technology.

The correct answer is 1 and 3 only.

In News

• The performance of public sector banks (PSBs) in H1FY25 showed robust growth in operating profit, net profit, and a reduction in NPAs.
• The global credit portfolio grew by 12.9% and the deposit portfolio grew by 9.5% Y-o-Y.

Key Points

• Statement 1 is correct: The operating profit grew by 14.4% Y-o-Y, and net profit saw a 25.6% increase to Rs 85,520 crore in H1FY25.
• Statement 2 is incorrect: The global credit portfolio grew by 12.9% Y-o-Y to Rs 102.29 trillion, while the deposit portfolio grew by 9.5% Y-o-Y to Rs 133.75 trillion, which is reversed in the statement.
• Statement 3 is correct: The gross NPAs decreased by 108 bps Y-o-Y, standing at 3.12% as of September 2024.
• The capital to risk-weighted average assets ratio (CRAR) for PSBs stood at 15.43%, above the regulatory requirement of 11.5%.

Additional Information

• Public Sector Banks (PSBs) Performance
• PSBs showed strong growth in both operating and net profits in the first half of FY25.
• Key financial indicators like NPAs and CRAR were also improved, contributing to the robust performance of PSBs.
• Significant Reforms in PSBs
• Major reforms include the implementation of the Enhanced Access and Service Excellence (EASE) and the enactment of the Insolvency and Bankruptcy Code (IBC).
• PSBs have also adopted new-age technologies like AI, cloud, and blockchain, upgrading their digital infrastructure and tackling cybersecurity risks.