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25th November 2023 Current Affairs Quiz: Welcome to the 25th November 2023 Current Affairs Quiz, where we delve into the latest and most relevant events shaping our world. In this quiz, we’ll explore a diverse range of topics, from global affairs to regional developments, providing you with an opportunity to test your knowledge and stay informed about the key happenings around the globe. Stay tuned for thought-provoking questions that will challenge your awareness of the current affairs landscape as of 25th November 2023. Let’s embark on this journey of knowledge and stay connected with the dynamic currents of the world.
25th November 2023 Current Affairs | Today GK Quiz
1. What recent decision did the board of directors at Bandhan Bank make regarding its leadership?
a) Approval for a new MD&CEO
b) Appointment of a CFO
c) Extension of Chandra Shekhar Ghosh’s tenure
d) Resignation of the Chairman
Answer: c) Extension of Chandra Shekhar Ghosh’s tenure
Explanation: The board of directors at Bandhan Bank recently approved the reappointment of Chandra Shekhar Ghosh as the Managing Director & Chief Executive Officer (MD&CEO) for an additional three-year term, extending his current tenure set to expire on July 09, 2024.
2. What conditions are attached to the reappointment of Chandra Shekhar Ghosh as MD&CEO?
a) Approval from the Finance Ministry
b) Confirmation from international regulators
c) Approval from the shareholders only
d) Approval from RBI and shareholders
Answer: d) Approval from RBI and shareholders
Explanation: The reappointment of Chandra Shekhar Ghosh is contingent upon the approval of both the Reserve Bank of India (RBI) and the shareholders of Bandhan Bank. Regulatory provisions dictate that the application for Ghosh’s reappointment must be submitted to the RBI at least six months before the conclusion of the current term. Ghosh is expected to assume his renewed role from July 10, 2024, and will not be liable to retire by rotation.
3. Who is set to acquire Chaitanya India Fin Credit Private Limited in a significant deal?
a) Navi Group
b) JM Financial Limited
c) Svatantra Microfin Private Limited
d) Ananya Birla
Answer: c) Svatantra Microfin Private Limited
Explanation: Svatantra Microfin Private Limited, founded by Ananya Birla, is set to acquire Chaitanya India Fin Credit Private Limited, a subsidiary of Sachin Bansal’s Navi Group, in a substantial deal valued at Rs 1,479 crore.
4. What strategic vision does the acquisition of Chaitanya India Fin Credit align with for Navi Group?
a) Expanding into manufacturing
b) Prioritizing digital-first businesses
c) Venturing into real estate
d) Focusing on traditional banking services
Answer: b) Prioritizing digital-first businesses
Explanation: The acquisition aligns with Navi Group’s strategy to prioritize digital-first businesses, emphasizing its commitment to digital-first financial services. This strategic vision aims to leverage technology to drive growth and profitability while addressing the financial needs of rural India through the combined expertise of Svatantra and Chaitanya teams.
5. Why is the collaboration between Mastercard and U GRO Capital significant for MSMEs in India?
a) To promote entertainment services
b) To address the credit gap for MSMEs in India
c) To provide healthcare solutions
d) To focus on agricultural development
Answer: b) To address the credit gap for MSMEs in India
Explanation: The collaboration is significant because it aims to bridge the credit gap for MSMEs in India, where only 14% out of over 64 million MSMEs have access to credit. The partnership seeks to offer accessible working capital solutions to fuel the growth of small businesses.
6. How does U GRO Capital plan to contribute to the collaboration with Mastercard?
a) By offering technological solutions
b) By promoting global tourism
c) By providing educational services
d) By leveraging its proprietary underwriting and cash flow-backed assessment model to offer short-term credit
Answer: d) By leveraging its proprietary underwriting and cash flow-backed assessment model to offer short-term credit
Explanation: U GRO Capital plans to contribute to the collaboration by leveraging its proprietary underwriting and cash flow-backed assessment model. This approach will enable the extension of short-term credit to various stakeholders, including dealer-distributors, last-mile retailers, and women entrepreneurs, addressing the diverse financial needs of small businesses.
7. Why did the Reserve Bank of India (RBI) supersede the board of Abhyudaya Cooperative Bank for 12 months?
a) Due to financial insolvency
b) In response to poor governance standards
c) To enforce business restrictions
d) To restructure the bank’s loans
Answer: b) In response to poor governance standards
Explanation: The RBI superseded the board of Abhyudaya Cooperative Bank for a duration of 12 months in response to certain material concerns arising from observed poor governance standards within the bank.
8. What regulatory authority did the RBI invoke to supersede the board of Abhyudaya Cooperative Bank?
a) Section 44 of the Companies Act, 2013
b) Section 56 of the Banking Regulation Act, 1949
c) Section 18 of the Reserve Bank of India Act, 1934
d) Section 72 of the Negotiable Instruments Act, 1881
Answer: b) Section 56 of the Banking Regulation Act, 1949
Explanation: The RBI invoked its powers under Section 36 AAA, read in conjunction with Section 56 of the Banking Regulation Act, 1949, specifically applicable to cooperative societies. This move signifies the regulator’s commitment to maintaining the integrity and stability of financial institutions in the country.
9. What is cited as the primary reason for the permanent closure of the Afghanistan embassy in New Delhi?
a) Lack of resources
b) Persistent challenges from the Indian government
c) Internal conflict within the embassy
d) Diplomats switching allegiance to the Taliban
Answer: b) Persistent challenges from the Indian government
Explanation: The Afghanistan embassy in New Delhi officially announced its permanent closure, citing persistent challenges from the Indian government as the primary reason.
10. According to the embassy, why should the closure not be perceived as an internal conflict or a result of diplomats switching allegiance to the Taliban?
a) Lack of evidence supporting such claims
b) Broader changes in policy and interests
c) Diplomatic efforts to mislead the public
d) Pressure from external forces
Answer: b) Broader changes in policy and interests
Explanation: The embassy clarified that the closure should not be seen as an internal conflict or a result of diplomats switching allegiance to the Taliban. Instead, it attributes the decision to broader changes in policy and interests, emphasizing the challenges faced in maintaining normal diplomatic operations.
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