1) Who from India has been elected to the board of directors of the China-sponsored Asian Infrastructure Investment Bank (AIIB)?
a. Raghuram Rajan
b. Dinesh Sharma
c. Amartya Sen
d. Harun Rashid Khan
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Answer
Explanation
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ANSWER: Dinesh Sharma
Explanation:
The election of India to board of directors of the AIIB expected to provide significant role for it as it is the forum that approves the loans for projects. It is a 12-member board.
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2) Which of the following statements is/are correct about AIIB?
1. Singapore is founding member of AIIB.
2. China, India and Russia are the three largest shareholders of AIIB
a. Only 1
b. Only 2
c. Both
d. None
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Answer
Explanation
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ANSWER: Both
Explanation:
- China holds 30.34 percent, while India holds 8.52 percent and 6.66 percent stake were held by Russia.
- U.K., France, Germany and Italy have joined the bank, despite opposition from USA.
- United States, Japan and Canada stayed away from joining AIIB.
- The capital of the bank is $100 billion, equivalent to 2/3 of the capital of the Asian Development Bank and about half that of the World Bank.
- Jin Liqun is president of AIIB.
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3) Consider the following statements
1. Russia is the third largest shareholder of AIIB.
2. Iran is the founding member of AIIB.
Which of the above statements is/are correct?
a. Only 1
b. Only 2
c. Both
d. None
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Answer
Explanation
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ANSWER: Both
Explanation:
China, India and Russia are the three largest shareholders, taking a 30.34 percent, 8.52 percent, 6.66 percent stake, respectively. Their voting shares are calculated at 26.06 percent, 7.5 percent and 5.92 percent.
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4) Which of the following statements is / are correct?
1. Brazil, Egypt ,Germany are founding members of AIIB.
2. K.V. Kamath, is the newly appointed chief of AIIB.
a. Only 1
b. Only 2
c. Both
d. None
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Answer
Explanation
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ANSWER: Only 1
Explanation:
K.V. Kamath, is the newly appointed chief of the New Development Bank of BRICS countries. China has named its former Finance Minister, Jin Liqun, as its choice to head the Beijing-backed Asian Infrastructure Investment Bank
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5) Which of the following factor determines the voting share of AIIB?
a. Contribution of the country to the bank's authorized capital
b. Purchasing power parity
c. Size of country's economy
d. Each country will have one vote without veto power
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Answer
Explanation
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ANSWER: Size of country's economy
Explanation:
The voting shares are based on the size of each member country's economy and not contribution to the bank's authorized capital.
China is highest contributor to AIIB with 29.78 billion US dollars. China will have 26.06 per cent of the voting rights along with veto powers for certain key decisions. India is second largest shareholder with 8.52 per cent stake and voting share of 7.5 per cent. While Russia is third largest shareholder with 6.66 stake and voting share of 5.92 per cent.
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