Question

Which independent body is responsible for closely monitoring the financial stability and fund utilisation by KIIFB and issues a "Fidelity Certificate" every six months?

• A. Kerala Financial Audit Bureau (KFAB)
• B. State Comptroller and Auditor General (SCAG)
• C. Kerala Investment Monitoring Authority (KIMA)
• D. Fund Trustee and Advisory Commission (FTAC)

Answer 1

Answer:

D. Fund Trustee and Advisory Commission (FTAC)

• The Fund Trustee and Advisory Commission (FTAC) is a statutory requirement that monitors the fund utilization and repayment capability of KIIFB.

• It issues a "Fidelity Certificate" twice a year.