RBI Levies ‡2.70 Lakh Penalty on Manappuram Finance for Governance Non-Compliance

The Reserve Bank of India has imposed a monetary penalty of ‡2.70 lakh on the NBFC Manappuram Finance Limited.
The penalty was issued due to the company's failure to comply with RBI's compensation guidelines for Key Managerial Personnel (KMP).
Such penalties are part of RBI's periodic review of non-banking financial companies to ensure high standards of corporate governance.
Aspirants should understand that KMP compensation rules are designed to prevent excessive risk-taking in financial institutions.

Key Facts / Static GK

KMP: Key Managerial Personnel
Manappuram Finance HQ: Thrissur, Kerala

Q Practice Quiz — 14 March 2026

1. Who has been appointed as the Managing Director and CEO designate of Yes Bank, effective from April 2026?

A Prashant Kumar

B Vinay Tonse

C Sandeep Bakhshi

D Amitabh Chaudhry

E Dinesh Khara

Explanation: Vinay Tonse, a former Managing Director of State Bank of India, has been appointed as the MD & CEO of Yes Bank for a three-year term starting April 6, 2026, succeeding Prashant Kumar.

2. Which of the following statements is correct regarding the PM-KISAN scheme as of March 2026?

A It is a Centrally Sponsored Scheme with 60:40 funding between Center and States.

B The 22nd installment benefited approximately 15 crore farmers.

C The total amount disbursed under the scheme has crossed ‡4.27 lakh crore.

D It provides ‡10,000 per year to every landless laborer.

E The scheme was launched in the year 2021.

Explanation: Following the release of the 22nd installment in March 2026, the total financial assistance provided under PM-KISAN has surpassed ‡4.27 lakh crore. It is a 100% Central Sector Scheme providing ‡6,000 annually.

3. What is the generating capacity of the 'Bharat Small Modular Reactor' (BSMR) being developed by BARC?

A 100 MW

B 220 MW

C 500 MW

D 750 MW

E 1000 MW

Explanation: BARC is developing the Bharat Small Modular Reactor (BSMR-200) with a specific capacity of 220 Megawatts (MW).

4. Consider the following statements regarding the 6G research projects in India: 1. 104 projects have been approved with a budget of ‡271 crore. 2. The projects are funded under the TTDF scheme. 3. The long-term spectrum plan for 6G extends up to 2035.

A Only 1 and 2 are correct

B Only 2 and 3 are correct

C Only 1 and 3 are correct

D All 1, 2, and 3 are correct

E None are correct

Explanation: All three statements are correct: 104 projects were approved for ‡271 crore via TTDF, and the long-term spectrum plan targets the 2031-2035 period.

5. What is the primary function of the 'Bhavantar Bhugtan Yojana' extended by the Madhya Pradesh government?

A To provide free seeds and fertilizers to all farmers.

B To offer interest-free loans for irrigation equipment.

C To compensate farmers for the difference between the market price and the MSP.

D To facilitate the direct export of mustard to foreign countries.

E To provide insurance coverage for crop failure due to floods.

Explanation: Bhavantar Bhugtan Yojana is a Price Deficiency Payment Scheme that pays farmers the difference (bhav-antar) between the market price and the MSP if the former is lower.

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RBI Levies ‡2.70 Lakh Penalty on Manappuram Finance for Governance Non-Compliance

Key Facts / Static GK

Q Practice Quiz — 14 March 2026

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