Subsidiaries — Set 4
Banking · सहायक कंपनियां · Questions 31–40 of 50
Which of the following is a key function of the BRBNMPL subsidiary?
Correct Answer: D. Printing of high-security banknotes
BRBNMPL's primary function is the printing of Indian banknotes with high-security features. It ensures that the currency is safe from forgery and meets the demand of the public. This is one of the most critical operational tasks managed by an RBI subsidiary.
What is the maximum limit of deposit insurance provided by DICGC per bank per person?
Correct Answer: C. ₹5 lakh
DICGC provides insurance coverage of up to ₹5 lakh per depositor for each bank. This limit includes both the principal amount and the interest earned on all accounts in that bank. This was increased from ₹1 lakh to ₹5 lakh in the year 2020.
Who is the 100% shareholder of Indian Financial Technology and Allied Services (IFTAS)?
Correct Answer: D. Reserve Bank of India
IFTAS is a wholly owned subsidiary of the Reserve Bank of India. Being a 100% owner allows the RBI to ensure that the technology infrastructure serves the public interest without profit motives. This ownership structure is common for subsidiaries performing sensitive financial functions.
In the case of a bank liquidation, within how many days must DICGC pay the insured amount to depositors?
Correct Answer: A. 90 days
The DICGC is required to pay the insured amount to depositors within 90 days of a bank falling under a moratorium or liquidation. This recent legal change ensures that depositors get access to their money quickly during a crisis. Previously, the process could take much longer.
Which subsidiary helps in drafting IT-related guidelines for the banking sector in India?
Correct Answer: D. ReBIT
ReBIT provides policy support and technical inputs to the RBI for framing IT and cybersecurity regulations. It analyzes emerging trends to ensure that guidelines remain relevant to the current threat landscape. This helps in maintaining uniform security standards across all banks.
Which organization is responsible for the 'Varnika' ink manufacturing unit?
Correct Answer: C. BRBNMPL
Varnika is an ink manufacturing unit owned and operated by BRBNMPL in Mysuru. It was established to achieve self-sufficiency in the production of specialized security inks for banknotes. This unit can produce various types of ink required for the intricate designs of Indian currency.
Are Regional Rural Banks (RRBs) covered under the insurance scheme of DICGC?
Correct Answer: D. Yes, all RRBs are insured
All Regional Rural Banks operating in India are insured by DICGC. This ensures that rural depositors have the same level of safety as urban depositors. The protection covers savings, fixed, current, and recurring deposits.
Which RBI subsidiary is tasked with providing 'Shared Services' to reduce operational costs for the parent bank?
Correct Answer: B. ReBIT
ReBIT manages various shared IT services for the RBI to ensure operational efficiency and cost-effectiveness. By centralizing these functions, the RBI can focus more on its core regulatory and monetary policy tasks. This model is inspired by global best practices in corporate management.
What is the legal status of the Reserve Bank Innovation Hub (RBIH)?
Correct Answer: D. Section 8 Company
RBIH is registered as a Section 8 company under the Companies Act, 2013. This status indicates it is a non-profit organization dedicated to a specific public cause, which is financial innovation. It operates with its own board but remains under the overall supervision of the RBI.
Which subsidiary of RBI provides the platform for the 'Public Tech Platform for Frictionless Credit'?
Correct Answer: D. RBIH
RBIH has developed the Public Tech Platform for Frictionless Credit to enable seamless delivery of loans. It connects lenders with various data sources like land records and identity databases. This project aims to significantly reduce the time and cost involved in processing small loans.