Weekly Current Affairs (15th to 21st April 2020) Part - 1 Notes | EduRev

Current Affairs & Hindu Analysis: Daily, Weekly & Monthly

Current Affairs : Weekly Current Affairs (15th to 21st April 2020) Part - 1 Notes | EduRev

The document Weekly Current Affairs (15th to 21st April 2020) Part - 1 Notes | EduRev is a part of the Current Affairs Course Current Affairs & Hindu Analysis: Daily, Weekly & Monthly.
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Banking & Financial Awareness

1. The Reserve Bank of India (RBI) has directed banks to invest what per cent of the funds raised through targeted long-term repo operations (TLTRO) route _______50 per cent.
Note:

➢ RBI has announced the TLTRO on March 27, 2020 to ensure sufficient liquidity in the corporate bond market and has already conducted three such operations worth Rs 25,000 crore each.
➢ Now, the liquidity availed under it has to be deployed by banks in investment grade corporate bonds, commercial papers and Non-convertible debentures (NCDs).
➢ Investments made by banks under this TLTRO facility will be classified as held to maturity (HTM) i.e. owned till maturity.
➢ Banks will have to maintain specified securities for the amount received in TLTRO in the HTM book at all times till maturity of TLTRO.

2. What will be the rate of interest in the “Sovereign Gold Bond Scheme 2020-21” to be launched by the RBI on behalf of GoI _______ 2.50 per annum.
Note:

➢ The Central government after exercising its power conferred under clause (iii) of section 3 of Government securities Act 2006 has launched a new series of the Sovereign Gold Bond (SGB) Scheme namely “Sovereign Gold Bond 2020-21”
➢ It is to be issued by Reserve Bank of India (RBI) in six tranches from April 2020 to September 2020 i.e. in first half of FY 20-21.
➢ Their sale will be restricted to resident individuals, HUFs, Trusts, Universities and Charitable Institutions.

3. Bharat Sanchar Nigam Limited (BSNL) in partnership with which bank has launched a Unified Payments Interface (UPI) based payment platform ______ State Bank of India (SBI).
Note:

➢ The platform Bharat InstaPay is to enable all types of channel partners of BSNL to digitize their payment transactions on a round the clock basis/ real- time basis.
➢ In particular it will help the prepaid sellers to buy the services immediately for sale.
➢ It will improve BSNL’s credibility towards partners, & will help in growth of partners’ business at a faster pace.

4. International Monetary Fund (IMF) in its “World Economic Outlook, April 2020” has decreased India’s GDP growth rate to ________ 1.9%.
Note:

➢ It has also predicted that in FY 21-22 the Indian economy will recover strongly with a growth projection of 7.4%.
➢ This current projected GDP growth rate at 1.9% for 2020-21 is 3.9% lower than the January outlook and 5.1% lower than the projection made in 2019.
➢ On the global front, the economy is projected to contract by –3% in FY 20-21 while it will grow by 5.8% in 2021 as economic activity normalizes due to the containment of COVID-19.

5. Which bank has launched Safety Grid campaign which was conceptualized by Leo Burnett India to help people maintain social distancing ______HDFC Bank.
Note:

➢ It has created physical makers on the ground using the outer grid of its logo at a distance of 1 meter from each outside the outlets like pharmacies, grocery stores, Automated teller machines (ATMs) among others.
➢ It has been implemented in Mumbai, Delhi, Bengaluru, Kolkata, Hyderabad, Pune, Chandigarh and Bhubaneswar at 1,750 essential services stores & will be implemented at over 4,000 essential services stores across the 8 cities.

6. As per the IMF report titled ‘COVID-19 Pandemic and the Asia-Pacific Region: Lowest Growth Since the 1960s’ what will the growth of Asia region in 2020 _____0 per cent.
Note:

➢ International Monetary Fund’s (IMF) report titled ‘COVID-19 Pandemic and the Asia-Pacific Region: Lowest Growth Since the 1960s’ stated that Asia will stall at 0% growth in 2020 for the 1st time in 60 years which includes the Global Financial Crisis (4.7%) and the Asian Financial Crisis (1.3%).
➢ It also stated that the region will be “severe and unprecedented“ due to the impact of the pandemic & Asia is still doing better than other regions in terms of activity.

7. Which becomes the 1st Life Insurance company in India to announce additional benefits for its policyholders & agents _______ Tata AIA.
Note:

➢ This is to to support them during the novel coronavirus (COVID-19) pandemic.
➢ All policyholders will get additional benefit equal to the base sum assured or Rs 5,00,000 (no additional cost) whichever is lower, it is applicable for all valid death claims with a date of death on or before June 30th 2020.
➢ All ‘active’ agents with their spouse and children are entitled upto Rs 25,000 hospitalization cover if diagnosed with COVID-19 within the period as mentioned for the policyholders.

8. The Reserve Bank of India has slashed Reverse Repo rate to ______ 3.75%.
Note:

➢ It has been decided to reduce the fixed reverse repo rate under liquidity adjustment facility (LAF) by 25 basis points (bps) from 4% to 3.75% with immediate effect to maintain more liquidity in the banking system.
➢ The reverse repo rate is the rate at which central bank of a country (Reserve Bank of India in case of India) borrows money from commercial banks.
➢ This will encourage banks to lend to the productive sectors of the economy.
➢ On the other hand, repo rate remained unchanged to 4.40%, but it could be reduced as inflation is likely to fall below its target in a couple of months.

9. The State Bank of India’s (SBI) Ecowrap report estimated India’s Gross Domestic Product (GDP) growth may fall to _______1.1%.
Note:

➢ Due to the extension of lockdown till May 3, it has estimated overall loss for FY21 around Rs 12.1 lakh crore or 6% of nominal gross value added (GVA) taking the nominal GVA growth for the entire year to be around 4.2% & the nominal GDP is projected at 4.2%.
➢ The net tax revenue will have a shortfall of at least around Rs 4.12 lakh crores, and revenue shortfall for states will be Rs 1.32 lakh crores.
➢ The revised fiscal deficit will be at 5.7% of GDP from the budget estimate of 3.5% in FY21 and after taking into account only the current EBR (Extra Budgetary Resources), the deficit rises to 6.6% of GDP.

10. Which small finance bank has launched Selfe Fixed Deposits (FD) and Selfe savings accounts to expand its digital banking services _________ Equitas Small Finance Bank (ESFB).
Note:

➢ This will help its customers to avoid visiting the branches as the lockdown is extended till May 3.
➢ With the Aadhaar and Permanent Account Number (PAN) details customers can open an online account for value of Minimum investment of Rs 5,000 and invest up to Rs 90,000 under 3 minutes

11. Which bank has launched voice assistance-based banking services for its retail banking customers ______ICICI Bank.
Note:

➢ ICICI bank has launched voice assistance-based banking services on its integrated artificial intelligence (AI) powered multi-channel chatbot iPal with Amazon Alexa and Google Assistant.
➢ Customers can access a wide range of banking services like check balance, seek credit card details & ask queries through voice commands.

12. Fitch Solutions has declined India’s Gross Domestic Product (GDP) growth for the FY 2020-21 to _______1.8%.
Note:
➢ For China, it has revised to 1.1% from 2.6% previously & the real GDP contracts by 6.8% year over year(y-o-y) in the 1st quarter of 2020.
➢ In the meantime, the targeted financial stimulus should see stable investment growth remain relatively flat, while strong government consumption will provide the majority support and prevent full year contraction by 2020.

13. People’s Bank of China (PBOC) has raised its stake in which Indian Bank _______HDFC Bank.
Note:

➢ People’s Bank of China (PBOC) has raised its stake in Housing Development Finance Corporation Limited (HDFC) from 0.8% to 1.01%.
➢ The stake raising process was done as a secondary market transaction. The stakes comprises of 17.49 million shares of the the country’s largest mortgage lender HDFC.

14. Which bank has made an announcement that the bank will waive service charges for all ATM transactions _______SBI.
Note:

➢ The decision will also be implemented on the other bank ATMs on account of exceeding the free number of transactions up to 30th June 2020.
➢ Therefore, any customer having a debit card from a State Bank of India will be allowed to withdraw cash from any other bank’s ATM without incurring any additional charges till 30th June, 2020.

15. The Reserve Bank of India has cancelled the licence of which bank _______ Mapusa Urban Co-operative Bank of Goa Ltd.
Note:

➢ The central bank has issued an order, barring the bank to carry on banking business, with effect from the close of business on April 16, 2020.
➢ Hence, the Urban Co-operative Bank has been refrained from running the business of ‘banking’ which comprises of acceptance of deposits as well as repayment of deposits as defined in Section 5 (b) read with Section 56 of the Banking Regulation Act, 1949 with immediate effect.

Obituaries

1. Renowned personality M V Rajasekharan passed away recently, he was a veteran ________Politician.
Note:

➢ He was former Union Minister of State of planning and statistics and veteran Congress leader.
➢ He was also agriculture and rural development consultant.
➢ He was born on 12th September 1928 in Maralawadi in Ramanagara District, Karnataka.
➢ He represented the constituency of Kanakapura in the Lok Sabha and well known for his value-based politics.

2. Famous sportsperson Zafar Sarfaraz passed away recently, he was associated with which sports _______Cricket.
Note:

➢ Former Pakistani first-class cricketer, Zafar Sarfaraz ,50 years, who tested positive to COVID-19 passed away in a hospital at Peshawar, Pakistan.
➢ He was born on 30th October 1969 in Peshawar, North West Frontier Province, Pakistan.
➢ Zafar Sarfraz, middle-order batsman played 15 First Class (FC) Games for Peshawar and played 6 List A Matches for Peshawar Cricket Team between 1988 to 1992.

3. Renowned personality Ranjit Chowdhry passed away recently, he was a veteran _______Actor.
Note:

➢ He was well known for his performance in classic comedies like Baton Baton Mein as Sabhi Perreira and Khubsoorat as Jagan Gupta.
➢ His mother Pearl Padamsee, was a Jewish descent and a well known drama teacher and stage and film actress and his stepfather Alyque Padmsee, was a theatre actor, director and head of an advertising company in Mumbai
➢ He started his film career with “KhattaMeetha” as RussieMistry.

4. Name the best selling Chilean writer and journalist passed away due to coronavirus complications ______ Luis Sepúlveda Calfucura.
Note:

➢ He was with Chile’s Communist Youth and socialists working against Pinochet regime and in 1973 he was arrested and imprisoned for treason for 2 and half years and freed after the intervention of Amnesty International.
➢ He was exiled from Chile by Pinochet dictatorship in 1977 and settled in Europe in 1980s after his extensive travel.

Important Days

1. The World Chagas Disease Day was celebrated for the first time on which date _______14th April 2020.
Note:

➢ The main aim of marking the day is to increase awareness of Chagas disease. Also, it focuses on the resources needed to prevent, control and eliminate the disease.
➢ The Chagas disease is also called “American trypanosomiasis”.
➢ The disease has been termed as silent and silenced disease.
➢ This is because, it progresses very slowly and mainly affects the people under poverty who do not have political voice to access health care.

2. International Day of Action for Rivers is observed every year on ________ March 14.
Note:

➢ The objective of this is to raise public awareness of destructive water development projects, health and sustainable management of the watersheds.
➢ The year 2020 marks the 22nd edition of International Day of Action for Rivers.
➢ Theme for the year 2020 is “Women, Water and Climate Change”.

3. The World Voice Day (WVD) is celebrated every year on _______16th April.
Note:

➢ World Voice Day (WVD) is a worldwide annual event that takes place on April 16 devoted to the celebration of the phenomenon of voice.
➢ The day is celebrated to increase the public awareness of the importance of voice and alertness to voice problems.
➢ The Theme of the day for the year 2020 is “FOCUS ON YOUR VOICE”.

4. The International Day of Mathematics (IDM) was celebrated for the first time on ________March 14, 2020.
Note:

➢ On this day all countries will be invited to participate through activities for both students and the general public in schools, museums, libraries and other spaces.
➢ The day was proclaimed by UNESCO (The United Nations Educational, Scientific and Cultural Organization) on the 40th session of the General Conference, November 26, 2019.
➢ Theme for the year 2020 is “Mathematics is Everywhere”.

5. World Haemophilia Day is celebrated worldwide on _______17th April.
Note:

➢ The day is celebrated to create awareness about Haemophilia and other inherited bleeding disorders.
➢ World Federation of Haemophilia was established by Frank Schnabel in 1963.
➢ The World Federation of Haemophilia (WFH) initiated the celebration of the World Haemophilia Day in 1989 on April 17 to honor the birth anniversary of Frank Schnabel, the founder of WFH.
➢ The theme of the World Haemophilia Day 2020 is “Get+involved”.

6. The World Art Day is celebrated every year on ______15th April.
Note:

➢ The International Association of Art (IAA/AIAP), partner of the United Nations Educational, Scientific and Cultural Organization (UNESCO) has declared the World Art Day on April 15.
➢ The day is chosen to honor & mark the birthday of famous Mona Lisa’s painter Leonardo da Vinci who is a symbol of world peace, freedom of expression, tolerance and brotherhood.

7. World Heritage Day is celebrated every year on ______18th April.
Note:

➢ Also known as the International Day for Monuments and Sites is an annual event which is celebrated every year on April 18, to promote awareness about the diversity of cultural heritage of humanity, their vulnerability and the efforts required for their protection and conservation.
➢ Theme for the year 2020 is “Shared Culture, Shared Heritage and Shared Responsibility”.

8. World Liver Day (WLD) is observed every year on ________ 19th April.
Note:
➢ This celebrated to spread awareness about the importance of liver in our body and liver related diseases.
➢ The liver is the second largest and most complex organ in the body, after the brain. It is a key player in your body’s digestive system.
➢ The liver performs many crucial functions related to digestion, immunity, metabolism and the storage of nutrients within the body and removing toxic substances from the body.

New Appointments

1. Who has been appointed as Officer on Special Duty (OSD) in the Union Bank of India _______ J Packirisamy.
Note:

➢ Andhra Bank Managing Director (MD) J Packirisamy has been appointed as Officer on Special Duty (OSD) in the Union Bank of India (UBI).
➢ The appointments come after some of the public sector banks were merged by the government with effect from April 2020.
➢ Andhra Bank and Corporation Bank have merged with Union Bank of India from April 1, 2020.

2. Who has been appointed as Officer on Special Duty (OSD) in the Canara Bank ________ Mrutyunjay Mahapatra.
Note:

➢ The appointments come after some of the public sector banks were merged by the government with effect from April 2020.
➢ Mahapatra has been appointed as an OSD in Canara Bank from April 1, 2020 till the age of his retirement.
➢ Syndicate Bank merged with Canara Bank from April 1, 2020.

3. Who has been appointed as the new brand ambassador of the PokerStars India ________MS Dhoni.
Note:

➢ Prior to MS Dhoni’s appointment popular Bollywood actor Nawazuddin Siddiqui was the brand ambassador of the company.
➢ Muskan Sethi and Sharad Rao are the other brand ambassadors of PokerStars India, while Aditya Agarwal quit the brand in December 2019.
➢ Currently, the brand is at rank four for player traffic among poker sites.

4. Who has been appointed as the MD & CEO of the Credit Analysis and Research Limited (CARE) Rating _______Ajay Mahajan.
Note:

➢ He is the successor of T.N. Kumar- Interim CEO of the company.
➢ Mahajan started his career with Bank of America in 1990 and went on to become MD & Country Head of Global Markets Group
➢ He was also part of the management team at inception of Yes Bank in 2004, building UBS’ maiden branch in India in 2008 and then working in IDFC (Infrastructure Development Finance Company)

5. Who has been appointed as the new brand ambassador of the CricKingdom ______Rohit Sharma.
Note:

➢ “CricKingdom” is a Dubai-based cricket coaching academy which provides a platform for online coaching after the global COVID-19 pandemic subsides.
➢ Provides support on booking of coaches, ground/nets with the management of academies.
➢ They are trying to merge the modern scientific training methods with the time-tested theories of the legends in the
game.

6. Who has been appointed as the MD and CEO of Paytm General Insurance Limited _______Vineet Arora.
Note:

➢ Earlier he served as the MD & CEO of Aegon Life Insurance Company and was part of the India Leadership team.
➢ Prior to this, he was senior general manager and head of Product, Distribution, Marketing and Wealth Management at ICICI Securities Ltd, where he developed a profitable distribution business across various delivery channels.

7. Who has been appointed as the ambassador of World Wildlife Fund (WWF) India’s environment education programme _______ Viswanathan Anand.
Note:

➢ The programme was started in 1976 as an initiative of Nature Clubs of India (NCI) with aim to create a generation of critical thinkers, problem solvers and environmentally conscious individuals.
➢ It follows a 3 way strategy approach namely; building environmental awareness and knowledge; developing requisite capacity and skills; and enabling action for conservation and sustainability.

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