Bank Related Appointments MCQ Quiz - Objective Question with Answer for Bank Related Appointments - Download Free PDF

The correct answer is Amrit Mohan Prasad.

In News

• Rajesh Nirwan has been appointed as the Director General (DG) of the Bureau of Civil Aviation Security (BCAS) in January 2025.
• Rajesh Nirwan replaces Amrit Mohan Prasad, who had been serving as the DG of Sashastra Seema Bal (SSB) and holding the additional charge of DG, BCAS, since November 1, 2024.
• The appointment of Rajesh Nirwan is approved by the Appointments Committee of the Cabinet (ACC), and it will take effect once he takes charge.

Key Points

• Rajesh Nirwan is a 1992-batch senior Indian Police Service (IPS) officer of the Rajasthan cadre.
• His appointment as the Director General (DG) of BCAS is effective from the time he takes charge.
• He replaced Amrit Mohan Prasad, who was serving as the additional charge of DG, BCAS, while also being the DG of Sashastra Seema Bal (SSB).
• Rajesh Nirwan has held various key positions in Rajasthan Police, including as the Superintendent of Police (SP) in the Crime Branch-Criminal Investigation Department (CB-CID), Jaipur, and as the police chief in multiple cities.

Additional Information

• Rajesh Nirwan's Career
  • Rajesh Nirwan started his career as Superintendent of Police (SP) in CB-CID, Jaipur, and later served as the police chief in several cities in Rajasthan.
  • He was promoted to Deputy Inspector General of Police (DIGP) in 2007 and served in the Central Bureau of Investigation (CBI) for two years.
  • In 2010, Nirwan became the Inspector General (IG) of Police and led the Ajmer Range until 2012.
  • From 2016 to 2023, he held key leadership roles in the Border Security Force (BSF), serving as IG and Additional DG of Police.
• Bureau of Civil Aviation Security (BCAS)
  • The BCAS is responsible for the aviation security of India, ensuring safety and security at civil airports and during air travel.
  • It was established in 1978 and is headquartered in New Delhi.
  • It functions under the Ministry of Civil Aviation (MoCA).
• Amrit Mohan Prasad
  • Amrit Mohan Prasad is a 1989-batch IPS officer from the Odisha cadre.
  • He was holding the additional charge of DG, BCAS, while also serving as the DG of Sashastra Seema Bal (SSB).

The correct answer is Alok Kumar Agarwal.

In News

• Alok Kumar Agarwal has been appointed as the Managing Director and Chief Executive Officer (MD & CEO) of Zurich Kotak General Insurance effective from January 1, 2025.
• He succeeded Suresh Agarwal in this role.

Key Points

• Alok Kumar Agarwal took over as MD & CEO of Zurich Kotak General Insurance on January 1, 2025.
• His appointment followed Zurich Insurance's strategic acquisition of a majority stake in Kotak Mahindra General Insurance Company Limited in June 2024.
• Zurich Kotak General Insurance is headquartered in Mumbai, Maharashtra.
• He replaced Suresh Agarwal, the outgoing CEO of Kotak Mahindra General Insurance.

Additional Information

• About Zurich Kotak General Insurance
  • A joint venture formed after Zurich Insurance acquired a majority stake in Kotak Mahindra General Insurance.
  • Zurich Insurance is a Switzerland-based global insurer, operating in more than 200 countries.
  • The company provides a range of general insurance products including motor, health, and travel insurance.
• About Alok Kumar Agarwal
  • A seasoned professional with leadership experience in the insurance and financial services sector.
  • Takes over the role during a strategic restructuring phase post-acquisition.
• About Kotak Mahindra Group
  • Headquartered in Mumbai, India
  • Founded by Uday Kotak
  • Operates in banking, asset management, insurance, and investment banking

The correct answer is Dorababu Daparti  

In News

• SBI Life Insurance appointed Dorababu Daparti as Deputy CEO, effective February 24, 2025.

Key Points 

• The appointment was approved by the board based on the nomination and remuneration committee’s recommendation.
• Daparti has over 29 years of experience in the financial industry and holds an M.Sc. degree along with a Chartered Associate of the Indian Institute of Bankers (CAIIB) certification.
• He started his career with SBI in 1995 and has held various managerial and executive roles.
• Served as SBI’s Country Head and CEO in the Maldives from September 2021, specializing in international banking.
• Previously, he was Deputy General Manager and Head of Overseas Planning & Strategy at SBI’s Corporate Centre in Mumbai.
• SBI Life operates in the life insurance sector, offering individual and group insurance products, including pension, health, and microinsurance policies.

The correct answer is Dorababu Daparti  

In News

• SBI Life Insurance appointed Dorababu Daparti as Deputy CEO, effective February 24, 2025.

Key Points 

• The appointment was approved by the board based on the nomination and remuneration committee’s recommendation.
• Daparti has over 29 years of experience in the financial industry and holds an M.Sc. degree along with a Chartered Associate of the Indian Institute of Bankers (CAIIB) certification.
• He started his career with SBI in 1995 and has held various managerial and executive roles.
• Served as SBI’s Country Head and CEO in the Maldives from September 2021, specializing in international banking.
• Previously, he was Deputy General Manager and Head of Overseas Planning & Strategy at SBI’s Corporate Centre in Mumbai.
• SBI Life operates in the life insurance sector, offering individual and group insurance products, including pension, health, and microinsurance policies.

The correct answer is Tuhin Kanta Pandey.

In News

• The government has appointed Finance Secretary Tuhin Kanta Pandey as the new Chairman of SEBI for an initial tenure of three years.

Key Points

• The Appointments Committee of the Cabinet approved his appointment, succeeding Madhabi Puri Buch.
• Madhabi Puri Buch’s tenure as SEBI Chairperson will end on March 1, 2025.
• Pandey previously served as Finance Secretary and Secretary in the Department of Revenue.
• The SEBI Chief has the option to receive a salary equivalent to a Secretary to the Government of India or a consolidated salary of ₹5,62,500 per month.

Additional Information

• Madhabi Puri Buch
  • First woman to lead SEBI
  • Appointed SEBI Chairperson on March 2, 2022
  • First private sector professional to head SEBI
  • Previously CEO of ICICI Securities (2009-2011)
• Ajay Tyagi
  • Served as SEBI Chairman before Buch (2017-2022)
  • Held key positions in the Finance Ministry
• Securities and Exchange Board of India (SEBI)
  • Regulates capital markets in India
  • Established in 1992
  • Headquarters: Mumbai

The correct answer is Ajay Kumar Choudhary and Deepak Kumar.

Key Points

• The Reserve Bank of India (RBI) has appointed Ajay Kumar Choudhary and Deepak Kumar as the new executive directors (ED) on January 05, 2022.
  • Ajay Choudhary was serving as the Chief General Manager-in-Charge, Department of Supervision of the Central Bank.
  • While, Deepak Kumar was serving as the chief of the Information Technology department of RBI.

Additional Information

• Recent Bank Related Appointments:
  • Axis Bank's board has approved the appointment of Ashish Kotecha, a nominee of Bain Capital, as an additional non-executive Director.
  • Kotak Mahindra Bank has appointed Ashu Suyash as an independent Director of the bank for a period of 5 years.
  • In December 2021, Ujjivan Small Finance Bank has appointed Ittira Davis as Managing Director and Chief Executive Officer (CEO) for a period of three years.
  • The Reserve Bank of India has approved the appointment of Baldev Prakash as Jammu & Kashmir Bank's Managing Director and CEO from 2022.

The correct answer is B C Patnaik.

Key Points

• B C Patnaik has taken charge as the Managing Director (MD) of Life Insurance Corporation (LIC).
• He was appointed as Managing Director via a government notification dated July 5, 2021.
• Prior to taking charge as MD of LIC, Patnaik was the Secretary-General, Council for Insurance Ombudsman, (CIO) Mumbai.
• Currently, LIC has a Chairman and four Managing Directors.
  • Chairperson: M R Kumar
  • Managing Director: Mukesh Kumar Gupta, Raj Kumar, Siddhartha Mohanty, Ipe Mini

Additional Information

• About LIC:
  • Life Insurance Corporation of India is an Indian statutory insurance and investment corporation.
  • It is under the ownership of Ministry of Finance, Government of India.
  • It is headquartered in Mumbai.
  • It was founded on 1 September 1956.

The correct answer is Rajkiran Rai.

Key Points

• The new Managing Director of NaBFID effective August 8, 2022, is Rajkiran Rai.
•  Rajkiran Rai is currently the CEO and MD of Union Bank of India and will be taking over the new role after his tenure ends in July 2022.
•  NaBFID is a recently established financial institution in India that aims to provide long-term financing for infrastructure and development projects in the country.
•  The institution was set up with an initial authorized capital of Rs. 20,000 crore and is expected to play a crucial role in financing infrastructure projects in India.
•  Sumita Dawra is currently serving as the Executive Director of Union Bank of India, Arun Kumar Singh is an Indian Administrative Service (IAS) officer, and Pankaj Jain is a Senior Vice President at Yes Bank.

Additional Information 

• NaBFID is a newly set up development financial institution (DFIs) in India.
• It has been set up for infrastructure financing as per the National Bank for Financing Infrastructure and Development (NaBFID) Act 2021.
• The authorized share capital of the NaBFID is Rs one lakh crore.
• The initial paid-up capital of NaBFID is Rs 20,000 crore.

The correct answer is Dinesh Kumar Khara.

Key Points

• Dinesh Kumar Khara is the current head of State Bank of India.
• State Bank of India :
  • It is an Indian multinational, public sector banking and financial services statutory body headquartered in Mumbai, Maharashtra.
  • SBI is the 43rd largest bank in the world and ranked 221st in the Fortune Global 500 list of the world's biggest corporations of 2020.

​Additional Information

• Dinesh Kumar Khara :
  • He has replaced SBI chairman Rajnish Kumar, whose three-year term comes to an end today.
  • Mr Khara joined SBI as Probationary Officer in 1984.
  • He has over 36 years of rich experience in all facets of Banking.
  • The Government appointed Dinesh Kumar Khara as chairman of the bank for three years effective from October 7, 2020.
  • Khara was appointed as managing director of SBI in August 2016 for a three-year term..
  • Khare was instrumental in merging five associate banks and Bharatiya Mahila Bank with SBI effective April 2017.
• Nita Mukesh Ambani :
  • She is an Indian philanthropist.
  • She is the chairperson and founder of the Reliance Foundation, Dhirubhai Ambani International School and a non-executive director of Reliance Industries.
  • She is married to Reliance Industries chairman and managing director Mukesh Ambani. 
• Barkha Singh :
  • She is an Indian model.
  • She began her career as a child artist at the age of 10.
• Arundhati Bhattacharya :
  • She is a retired Indian banker and former Chairperson of the State Bank of India.
  • She is the first woman to be the Chairperson of the State Bank of India.
  • In 2016 she was listed as the 25th most powerful woman in the world by Forbes.

The correct answer is Arvind Panagariya.

• The NITI Aayog (National Institution for Transforming India) is a policy think tank of the Government of India, formed on January 1, 2015.
  • Its headquarters is in New Delhi.

Key Points

• Arvind Panagariya is the first Vice-Chairperson of the NITI Aayog.
  • He is an Indian-American economist.
  • He served as the Vice-Chairperson of the NITI Aayog between January 2015 and August 2017.
  • He was a former Chief Economist at the Asian Development Bank.
  • He resigned from the Vice-Chairman post of Niti Aayog by stating that Columbia University has not extended his leave beyond 31 August 2017.

Important Points

• Suman Bery is the current Vice-Chairperson of the NITI Aayog.
• Amitabh Kant is the current CEO of NITI Aayog,
• Sindhushree Khullar was the first CEO of NITI Aayog,
• The CEO and vice-chairperson of the NITI Aayog are appointed by the Prime Minister.

Additional Information

• Arun Shourie was a former economist in the World Bank.
  • He was honoured with the Ramon Magsaysay Award in 1982.
• Raghuram Rajan was the 23rd Governor of the Reserve Bank of India.
  • "I Do What I Do" is a famous book written by Raghuram Rajan.
• Arvind Subramanian is the former Chief Economic Adviser to the Government of India.

The correct answer is UAE.

Key Points

• The United Arab Emirate's federal supreme council has elected Abu Dhabi's Crown Prince Sheikh Mohammed bin Zayed Al Nahyan as the President of UAE.
• He has replaced Sheikh Khalifa Bin Zayed Al Nahyan, who passed away in May 2022.
• Mohammed bin Zayed, the former President's half-brother, has been the de facto ruler of the UAE for years now particularly after Khalifa suffered a stroke in 2014.

Additional Information

• UAE:
  • Capital - Abu Dhabi.
  • Currency - United Arab Emirates dirham.
  • President - Khalifa bin Zayed Al Nahyan.
  • National Sport - Camel racing.

The correct answer is Paul-Henri Sandaogo Damiba.

Key Points

• Burkina Faso's new military strongman, Paul-Henri Sandaogo Damiba, has been declared President by the country's top constitutional body on 10 February 2022.
• The Constitutional Council on  10 Feb determined that "Paul-Henri Sandaogo Damiba, president of the Patriotic Movement for Preservation and Restoration (the official name of the junta), is the president" of Burkina Faso.

Additional Information

• ​Burkina Faso is a landlocked country in West Africa with an area of 274,200 square kilometers.
• It is bordered by Mali to the northwest, Niger to the northeast, Benin to the southeast, Togo and Ghana to the south, and the Ivory Coast to the southwest. 
• Burkina Faso:
  • Capital: Ouagadougou
  • Currency: West African CFA franc
  • Official language: French

The correct answer is Debasish Panda.

Key Points

• The union government has appointed former Financial Services Secretary Debasish Panda as Chairman of IRDAI (Insurance Regulatory Development Authority of India).
• His tenure as the chief of insurance regulator will be for three years.
• Panda, a 1987-batch IAS officer of the Uttar Pradesh cadre, retired as Financial Services Secretary in January 2022 after a two-year stint.

Additional Information

• ​Important Current Affairs Related to Appointments in 2022:
  • The government has appointed former Finance Secretary Ajay Bhushan Pandey as Chairman of the National Financial Reporting Authority (NFRA) for a period of three years.
  • The Centre on 9 March 2022 filled the five-month vacant post of the whole-time member at SEBI by appointing banker Ashwani Bhatia.
  • LIC Mutual Fund has announced the appointment of Mr T S Ramakrishnan as its Managing Director and CEO, effective March 1, 2022.
  • The board of directors of L&T Finance Holdings Ltd (LTFH) has approved the appointment of S N Subrahmanyan as its Director and Chairperson.
  • IDFC FIRST Bank has approved the appointment of former economist and IFS officer Jaimini Bhagwati as an Additional Director on its board for three years.
  • Manoj Ahuja (As of Feb 2022) will take over as Agriculture Secretary, according to a decision by the Appointments Committee of the Cabinet (ACC) on 08 Feb, 22. 
  • He is currently serving as the Chairman of the Central Board of Secondary Education.
  • Professor Dinesh Prasad Saklani (As of Feb 2022) has been appointed as the new Director of the National Council of Educational Research and Training (NCERT).
  • He has been appointed for a period of five years or till he attains the age of 65 years, whichever is the earliest.
  • Universal Acceptance Steering Group has appointed Paytm founder Vijay Shekhar Sharma as its ambassador.
  • Justice Munishwar Nath Bhandari (As of Feb 2022) has been appointed Chief Justice of the Madras High Court, the Law Ministry said on Thursday.

The correct answer is Urjit Patel.

Key Points

• Former RBI Governor Urjit Patel has been appointed as a Vice President of the Beijing-based multilateral funding institution AIIB.
• India is a founding member of the Asian Infrastructure Investment Bank (AIIB) with the second-highest voting share after China.
• Patel will be one of the 5 Vice Presidents of the AIIB with a three-year tenure.
• He will succeed outgoing Vice President D.J. Pandian.

Additional Information

• ​Nirmala Sitharaman has participated in the 6th Annual Meeting of the Board of Governors of Asian Infrastructure Investment Bank (AIIB) in October 2021.
• The Asian Infrastructure Investment Bank is a multilateral development bank that aims to improve economic and social outcomes in Asia.
• The bank currently has 104 members, including 17 prospective members from around the world.
  • President of Asian Infrastructure Investment Bank: Jin Liqun.
  • Headquarters of AIIB: Beijing, China.
  • AIIB established: 16 January 2016.​

The correct answer is Marty Chavez.

Key Points

• Marty Chavez is joining the board of Google parent Alphabet Inc.
• Chavez, a vice chairman and partner with Sixth Street Partners, has worked as an investor and software executive but is best known for his 20-year tenure at Goldman Sachs Group Inc.
• His appointment marks the first change to the Alphabet board since 2020, when former Google Chief Executive Officer Eric Schmidt departed.

Additional Information

• ​Important Appointments:
  • Govt of Bangladesh has appointed Mustafizur Rahman as the next High Commissioner of Bangladesh to India.
  • The Public Enterprises Selection Board (PESB) panel has appointed Brajesh Kumar Upadhyay as Chairman & Managing Director (CMD) of Goa Shipyard Limited (GSL).
  • Retired IAS officer and former Drinking Water and Sanitation Secretary Parameswaran Iyer has been appointed as the new Chief Executive Officer of NITI Aayog. 
  • New Development Bank (NDB) of the BRICS countries has appointed Dr D J Pandian as the Director-General of its India Regional Office in Gujarat International Finance Tec-City (GIFT City).
  • Senior Diplomat Ruchira Kamboj has been appointed as the next Ambassador and Permanent Representative of India to the United Nations.
  • Somali president Hassan Sheikh Mohamud on 15 June 2022 appointed Hamza Abdi Barre as the country's Prime Minister.
  • Justice Bhimanagouda Sanganagouda Patil has been appointed as the new Lokayukta of Karnataka.
  • President Ram Nath Kovind has given Justice Pradip Kumar Mohanty the additional charge of the Lokpal chairperson.​
  • Dinkar Gupta, a 1987-batch IPS officer and former chief of Punjab Police, has been appointed Director-General of the National Investigation Agency (NIA).​