RBI Approves Mahesh Muralidhar Pai as Managing Director and CEO of South Indian Bank

1. With reference to the revised Reserve Bank Integrated Ombudsman Scheme (RB-IOS) 2026, consider the following statements: 1. There is no upper limit on the dispute amount a complainant can bring before the Ombudsman. 2. The Ombudsman is empowered to grant compensation up to Rs 50 lakh for consequential financial loss. 3. Compensation up to Rs 3 lakh can be awarded for harassment and loss of time. Which of the statements given above is/are correct?

Explanation: Statement 1 is correct as there is no limit on the dispute amount. Statement 2 is incorrect because the maximum compensation for consequential financial loss is Rs 30 lakh, not Rs 50 lakh. Statement 3 is correct as an additional compensation of up to Rs 3 lakh can be awarded for harassment, mental agony, and loss of time.

2. Who has been appointed as the new Managing Director & Chief Executive Officer (MD & CEO) of South Indian Bank for a three-year term starting from October 1, 2026?

Explanation: The Reserve Bank of India (RBI) has approved the appointment of Mahesh Muralidhar Pai as the Managing Director (MD) & Chief Executive Officer (CEO) of South Indian Bank (SIB) for a three-year term effective from October 1, 2026.

3. Which port recently became India's second major port, after Visakhapatnam, to achieve an operational draft capability of 18 metres, allowing it to handle fully-laden Capesize vessels?

Explanation: Kamarajar Port Limited (KPL), located in Chennai, Tamil Nadu, has become India's second major port to acquire an 18-metre draft capacity after successfully completing its Capital Dredging Phase VI Project.

4. Which Indian agency will serve as the lead implementing body for the newly inaugurated joint conservation and restoration project at the Prambanan Temple Complex in Indonesia?

Explanation: The Archaeological Survey of India (ASI) is the lead implementing agency from the Indian side for the joint conservation and restoration project at the Prambanan Temple Complex in Indonesia.

5. At which of the following test facilities did the DRDO conduct the successful flight-test of the Pinaka Long Range Guided Rocket (LRGR) system?

Explanation: The flight-test of the Pinaka Long Range Guided Rocket (LRGR) with a minimum range of 60 km was conducted at the Integrated Test Range (ITR) in Chandipur, Odisha.