RBI grants 12 years to LIC for reducing stake in which bank?
Options
A. Union Bank of India
B. IDBI Bank
C. Canara Bank
D. Kotak Mahindra Bank
Correct Answer
IDBI Bank
Explanation
Life Insurance Corporation(LIC), the largest insurance company in India, got 12 years from RBI for cut down stake in IDBI Bank.LIC is the lender's major shareholder, and it has a 51 per cent stake in the Bank. It means that no obligation to sell its stake in the following years or would probably spend higher money to keep its stake in any future fund raising by the bank. Insurance Regulatory and Development Authority (IRDAI) claimed that LIC can take up to 15 percent stake in any bank,which can stretch up to 30 percent as per the board approval.But the insurance regulator has authorised LIC to hold up to 51 percent in IDBI Bank in 2018. After 12 years LIC has to decrease stake in IDBI Bank by 10 per cent to 40 per cent.
More questions
1. As per an announcement by the Union Government, India's nuclear power generation capacity will be tripled by
Abhishek Verma won the 10m air pistol gold medal at the ISSF World Cup at Beijing, China. He clinched the top spot with a total score of 242.7. Russia's Artem Chernousov took silver. His brilliant performance in the Shooting World Cup Final also secured a fifth Olympic quota for India.
8. Noted agriculturalist Nel Jayaraman passed away recently. He belongs to which state?
Noted agriculturalist Nel Jayaraman (54), who pioneered the protection and propagation of indigenous paddy varieties in Tamil Nadu, passed away in Chennai on December 6, 2018. Hailing from Thiruthuraipoondi, in the heart of Tamil Nadu's delta rice bowl, Jayaraman has been credited with documenting and protecting more than 170 paddy varieties.His diligent work in the field of protecting the gene prototypes of indigenous paddy varieties won him the National Award in 2015 and a state award in 2011.
9. By what percent does the bank credit grows for the financial year 2018-19, as per the Reserve Bank of India(RBI)?
According to Reserve Bank of India data, the bank credit grew by 13.24 percent in financial year 2019 (FY19) to Rs 97.67 lakh crore as compared to 10.3 percent in FY18 and the deposits up by 10.03 percent in FY19 to Rs 125.72 lakh crore as compare to 6.7 percent in FY18. Additional Information According to the data available till February 2019, the credit growth in service sector was 23.7 percent and in retail sector it was 16.7 percent. Overall credit growth in the industry sector was 5.6%.
10. EV charging stations to be established in which Indian city?
In order to reduce the burden for the electric vehicle users who hunt for charging stations in the city Electric Vehicles charging Stations has been planned to be established in Bengaluru, Karnataka. The 112 EV charging stations that have been proposed to provide the infrastructure needed to encourage the use of EVs will be readied by August-end.