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 State Audit Bureau (KSAB)
• B. Fund Trustee and Advisory Commission (FTAC)
• C. Financial Oversight Committee (FOC)
• D. Public Accounts Committee (PAC)

Answer 1

Answer:

B. 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.