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1. Which of the following has allowed IFC, ADB, DEC to acquire a stake in Fourth Partner Energy?
[A] Chief Labour Commissioner
[B] Competition Commission of India (CCI)
[C] Finance Commission (FCI)
[D] None of the above
Correct Answer: B [Competition Commission of India (CCI)]
Notes:
On December 31, 2024, the Competition Commission of India (CCI) granted approval for the following proposals: The acquisition of a specific stake in Fourth Partner Energy Limited (FPEL), a prominent renewable energy firm based in Hyderabad, Telangana, which specializes in the development and financing of renewable energy projects. This acquisition is a collaborative effort involving the International Finance Corporation (IFC) from Washington, D.C., a member of the World Bank Group (WBG), the Asian Development Bank (ADB) based in Manila, Philippines, and DEG (Deutsche Investitions und Entwicklungsgellschaft mbH) representing the German government. The CCI has approved the proposal of Virginia (the USA)-based Mars, Incorporated (Mars) to acquire all outstanding equity shares of Chicago (the USA)-based Kellanova (formerly Kellogg Company), a Delaware corporation listed on the New York Stock Exchange (NYSE) for USD 36 billion.
2. Who has approved the merger of Bangalore-based National Co-operative Bank with Cosmos Co-operative Bank of Maharashtra?
[A] Reserve Bank of India
[B] Ministry of Finance
[C] Ministry Of Corporate Affairs
[D] Ministry of Commerce & Industry
Correct Answer: A [Reserve Bank of India]
Notes:
The Reserve Bank of India (RBI) has given the green light for the merger of National Co-operative Bank in Bangalore with Cosmos Co-operative Bank in Maharashtra, effective from January 6, 2025. This move is part of the ongoing efforts to consolidate the banking sector in India. After the merger, the branches of National Co-operative Bank will function under Cosmos Co-operative Bank. This approval follows several restrictions placed on National Co-operative Bank due to its poor financial health.
3. Which insurance company has recently acquired 10% stake in Bima Sugam India Federation?
[A] SBI Life Insurance
[B] HDFC Life Insurance
[C] ICICI Life Insurance
[D] None of the above
Correct Answer: A [SBI Life Insurance]
Notes:
SBI Life Insurance Company Limited recently acquired a 10% stake in Bima Sugam India Federation. SBI Life’s board approved the investment on December 30, 2024. SBI Life invested ₹6.6 crore, which is 66 lakh equity shares with a face value of ₹10 each. Bima Sugam India Federation is an unlisted company that aims to create a centralized marketplace for insurance products and services. It was incorporated on June 18, 2024.
