1. What primarily contributed to the Indian rupee closing at a new low of 83.38 against the US dollar?
Answer: Increased demand from oil companies.
2. What is the primary purpose of ‘penny drop’ verification for NPS fund withdrawals?
Answer: To ensure subscribers receive their funds securely.
3. Despite challenges, how much did the Indian rupee depreciate in 2023, showcasing relative resilience compared to 2022?
Answer: 0.8%.
4. What was the role of the Reserve Bank of India in stabilizing the rupee, and what is the significance of India’s foreign exchange reserves?
Answer: Intervening to stabilize the rupee.
5. Why did the Reserve Bank of India (RBI) supersede the board of Abhyudaya Cooperative Bank for 12 months?
Answer: Poor governance standards.
6. Who has been appointed as the Administrator to manage Abhyudaya Cooperative Bank during the regulatory intervention?
Answer: Satya Prakash Pathak.
7. What recent decision did the board of directors at Bandhan Bank make regarding its leadership?
Answer: Reappointed Chandra Shekhar Ghosh as MD&CEO for three years.
8. What is India’s fiscal deficit as a percentage of the full-year target in the first half of the 2023-24 financial year?
Answer: 39.3%.
9. What was the government’s targeted fiscal deficit as a percentage of GDP for the fiscal year 2023-24?
Answer: 5.9%.
10. What were the key financial highlights in terms of non-performing assets (NPAs) for Bandhan Bank during the reporting quarter?
Answer: 14.8% YoY increase in gross NPAs.
