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RBI Penalties WEP EmpowHER Biz and Growth Outlook
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RBI Penalties WEP EmpowHER Biz and Growth Outlook
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1
Question
What penalties did RBI impose for non-compliance with KYC directions on certain banks?
Answer
₹50,000 each on Belgaum District Revenue Employees’ Co-operative Bank, Batlagundu Co-operative Urban Bank, Sivakasi Co‑operative Urban Bank
2
Question
Which company was fined ₹50,000 for outsourcing a core management function, and which function?
Answer
Indian School Finance Company Pvt. Ltd.; outsourcing Internal Audit
3
Question
Under which acts were these RBI penalties imposed?
Answer
Banking Regulation Act, 1949 and RBI Act, 1934
4
Question
As of what date were the statutory inspections conducted for these penalties?
Answer
March 31, 2023
5
Question
When was RBI founded and where is its headquarters?
Answer
Founded: 1 April 1935; Headquarters: Mumbai
6
Question
Who was the Governor of RBI at the time mentioned?
Answer
Sanjay Malhotra
7
Question
What is the WEP of NITI Aayog partnered with New Shop aiming to empower women entrepreneurs in which sector?
Answer
Retail sector (organized retail)
8
Question
What is the name of the initiative launched under WEP and New Shop collaboration?
Answer
EmpowHER Biz – Sapno Ki Udaan
9
Question
How many women will be selected for the EmpowHER Biz program and what is their age range?
Answer
Fifty women, aged 18–35
10
Question
From which regions will the selected women come for the EmpowHER Biz program?
Answer
Delhi NCR, Punjab, Rajasthan, Uttar Pradesh, Haryana, Madhya Pradesh, Gujarat
11
Question
How many of the selected women will receive a 100% franchise fee waiver, and what is the purpose?
Answer
Top 20; to establish retail businesses
12
Question
What is the historical transition of WEP in 2022?
Answer
Public-private partnership
13
Question
What types of support does WEP offer according to the document?
Answer
Finance, market linkages, training, mentoring, legal assistance, business development
14
Question
How many New Shop convenience stores exist, and across how many cities?
Answer
200 stores; across 35 cities
15
Question
What is the target entrepreneur reach for New Shop by 2030?
Answer
10,000 entrepreneurs
16
Question
What is the ATR program in WEP intended to foster?
Answer
Award to Reward program for collaborations to support women’s entrepreneurship
17
Question
What is the projected growth rate of the Indian economy in 2025 according to UN’s World Economic Situation and Prospects report?
Answer
6.6%
18
Question
Which sectors are expected to drive growth in 2025 in India as per the report?
Answer
Manufacturing and services; strong exports in pharmaceuticals and electronics
19
Question
What macro factor is expected to have high multiplier effects on growth?
Answer
Infrastructure investments (physical and digital connectivity, sanitation, water supply)
20
Question
What regional economy is highlighted as heavily reliant on India’s performance?
Answer
South Asia
21
Question
List some risks to growth mentioned in the World Economic Situation and Prospects report.
Answer
Geopolitical tensions, slowing external demand, debt challenges, climate-related vulnerabilities
22
Question
What is the main reason for improved rural incomes mentioned in the report?
Answer
Favourable monsoons in 2024 boosting agricultural output
23
Question
What is CKYCR and why is it relevant in the penalties section?
Answer
Central KYC Records Registry; banks failed to upload customer KYC records within timeline
24
Question
What is the central theme of the 'EmpowHER Biz – Sapno Ki Udaan' program?
Answer
Empowering women entrepreneurs in organized retail through mentorship and training
25
Question
Which sector’s digitization and management skills are targeted by the WEP initiative?
Answer
Retail sector (management, digital tools, financial literacy)
26
Question
What is the scope of New Shop in terms of locations and reach?
Answer
200 stores across 35 cities; aims to empower 10,000 entrepreneurs by 2030
27
Question
What is the ATR program's broader objective within WEP?
Answer
Fostering impactful collaborations to support women’s entrepreneurship
28
Question
Which regions besides Delhi NCR are included in the EmpowHER Biz participant pool?
Answer
Punjab, Rajasthan, Uttar Pradesh, Haryana, Madhya Pradesh, Gujarat
29
Question
Identify one key objective of the RBI penalties program mentioned.
Answer
Enforce KYC compliance and outsourcing guidelines
30
Question
What government organization runs the WEP initiative?
Answer
NITI Aayog