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      Question

      The Department of Financial Services launched the

      ‘Bharat Maritime Insurance Pool (BMIP)’ of USD 1.5 Billion with a sovereign guarantee of how much? 
      A USD 1.0 Billion Correct Answer Incorrect Answer
      B USD 1.2 Billion Correct Answer Incorrect Answer
      C USD 1.4 Billion Correct Answer Incorrect Answer
      D USD 1.5 Billion Correct Answer Incorrect Answer
      E USD 2.0 Billion Correct Answer Incorrect Answer

      Solution

      The Department of Financial Services under the Ministry of Finance launched the ‘Bharat Maritime Insurance Pool (BMIP)’ of USD 1.5 Billion, with a sovereign guarantee of USD 1.4 Billion (Rs 12,980 Crores). The BMIP aims to reduce dependence on foreign insurers and ensure adequate risk coverage for Indian vessels on international sea routes.

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