Daily Quiz May 2023
Public Sector Banks (PSBs) in India have achieved a significant milestone in the financial year ending March 2023 , their cumulative profit has crossed the Rs 1 lakh crore mark. Which of the following public sector bank registered the highest net profit growth in percentage terms in FY2023 ?

(a) State Bank of India (SBI) (b) Bank of Maharashtra (BoM) (c) UCO Bank (d) Bank of Baroda Ans.(b) Sol. According to the financial results analysis, Bank of Maharashtra recorded the highest net profit growth of 126 percent to Rs 2,602 crore in FY23.

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The Insurance Regulatory and Development Authority of India (IRDAI) has recently announced relaxation of norms for surety bonds. _________ is the purpose of surety bond in the context of insurance ?

(a) To protect the parties from possible financial loss due to natural calamities (b) Providing coverage for personal property and belongings (c) Managing the risks associated with breach or non-performance of the contract (d) Providing health insurance coverage to individuals and ...

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