UPSC  >  Current Affairs & Hindu Analysis: Daily, Weekly & Monthly  >  Weekly Current Affairs (15th to 21st December 2021) Part - 1

Weekly Current Affairs (15th to 21st December 2021) Part - 1 Notes | Study Current Affairs & Hindu Analysis: Daily, Weekly & Monthly - UPSC

Document Description: Weekly Current Affairs (15th to 21st December 2021) Part - 1 for UPSC 2022 is part of Current Affairs & Hindu Analysis: Daily, Weekly & Monthly preparation. The notes and questions for Weekly Current Affairs (15th to 21st December 2021) Part - 1 have been prepared according to the UPSC exam syllabus. Information about Weekly Current Affairs (15th to 21st December 2021) Part - 1 covers topics like Banking & Financial Awareness, Obituaries, Important Days, New Appointments and Weekly Current Affairs (15th to 21st December 2021) Part - 1 Example, for UPSC 2022 Exam. Find important definitions, questions, notes, meanings, examples, exercises and tests below for Weekly Current Affairs (15th to 21st December 2021) Part - 1.

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Table of contents
Banking & Financial Awareness
Obituaries
Important Days
New Appointments
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Banking & Financial Awareness

Q.1. Which bank has joined hands with National Payments Corporations of India (NPCI) to launch a solution for digital banking payments, named ‘World Wave’ a wearable line of products for payments, integrated with a complete health ecosystem?

Correct Answer is Bank of Baroda.

  • A bob World Wave wearable device will allow customers to monitor their Sp02, body temperature, heart rate and blood pressure.
  • With bob World Wave, BOB is providing an exclusive 3-months free wellness package along with a personal health coach, doctor tele-consultation and interactive video coaching.
  • The device will provide contactless payments of up to ₹5,000 in all NFC enabled PoS devices.


Q.2. Which credit card issuer has launched a unique type of credit card called ‘PULSE’ on the Visa Signature platform to cater to the needs of fitness and health enthusiasts?

Correct Answer is SBI Card.

  • Launched on the Visa Signature platform, this new credit card called the “Pulse” has an annual membership charge of Rs 1,499.
  • SBI Card PULSE provides the customers Noise ColorFit Pulse Smartwatch of worth ₹4,999 as a welcome gift on payment of the joining fee.


Q.3. Which cryptocurrency has been accepted as an official currency for local use by the Myanmar’s parallel government led by the supporters of Myanmar’s ousted leader Aung San Suu Kyi?

Correct Answer is Tether.

  • The National Unity Government officially accepts Tether, a cryptocurrency meant to be a dollar proxy, for “domestic use to make it easy and speed up the current trade, services and payment systems.
  • The NUG is an alliance of leaders from the ousted civilian government and pro-democracy groups.


Q.4. The Reserve Bank of India has released the draft Master Directions on minimum capital requirements for operational risk as part of convergence of its regulations for banks with Basel III standards. The provisions of these directions shall apply to?

Correct Answer is All Commercial Banks.

  • The provisions of these directions shall apply to all commercial banks excluding local area banks, payments banks, regional rural banks, and small finance banks, the RBI said, adding that the directions shall come into effect from April 1, 2023.
  • Operational risk means the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events.


Q.5. What amount of reimbursement scheme has been approved by the central government aiming to promote digital transactions and incentivise users having Rupay debit cards and BHIM unified payments interface (UPI)?

Correct Answer is Rs 1,300 crore.

  • Under the scheme, the acquiring banks will be incentivised by the Government by paying a percentage of the value of transactions (P2M) done through RuPay Debit cards and low-value BHIM-UPI modes of payments, at an estimated financial outlay of ₹1,300 crore for one year w.e.f. April 01, 2021.
  • The scheme has been formulated in compliance with the Budget announcements (FY 2021-22) by the Government to further boost digital transactions in the country.


Q.6. The Reserve Bank of India (RBI) has decided to allow which banks to conduct Government agency business?

Correct Answer is Scheduled Payments Banks and Scheduled Small Finance Banks.

  • The central bank has decided in this regard in consultation with the Department of Financial Services (DFS), Ministry of Finance (MoF).
  • Any payment bank or small finance bank that intends to undertake Government agency business may be appointed as an agent of RBI upon execution of an agreement with RBI, provided that the overarching regulatory framework prescribed for these banks is complied with.


Q.7. Tata Motors has partnered with which bank to sign a retail finance MoU, offering finance options to all its passenger vehicle customers?

Correct Answer is Bandhan Bank.

  • As part of the tie-up, Bandhan Bank will provide loans to Tata Motors’ customers at an interest rate starting from 7.50 per cent.
  • This scheme will offer a maximum of 90 percent financing on the total on-road cost of the vehicle.


Q.8. Which India IT company has signed an agreement to acquire LeanSwift Solutions, US-headquartered system integrator of Infor Products whose service capabilities include ERP, e-commerce, digital transformation, supply chain, warehouse management systems, business intelligence and integrations?

Correct Answer is Wipro Ltd.

  • LeanSwift has development offices across US, Sweden and India and its portfolio of clients span multiple industries, including manufacturing, distribution, chemicals, fashion, and food & beverages.
  • Their core business is providing consulting, business solutions, and technical services to customers in the Infor space.


Q.9. State-owned power sector giant, NTPC, has awarded a standalone fuel-cell based green hydrogen microgrid project at?

Correct Answer is Simhadri, Andhra Pradesh.

  • This will be India's first green hydrogen-based energy storage project and one of the world's largest.
  • The hydrogen would be produced using the advanced 240 kW Solid Oxide Electrolyser by taking input power from the nearby Floating Solar project.
  • This unique project configuration is designed in-house by NTPC.


Q.10. Which food and tech platform company has signed a Memorandum of Understanding (MoU) with NABFOUNDATION, a wholly owned subsidiary of NABARD to develop farmer clusters through products and services of Innoterra platform?

Correct Answer is Innoterra.

  • The MoU aims to develop farmer clusters through products and services of Innoterra platform.
  • This association will enable both organisations to engage with India’s largest farmer collectives’ network of over 5000 Farmer Producer Organizations (FPOs).


Q.11. Which online ordering platform partnered with WhatsApp that will enable retailers and consumers to order essentials like groceries, vegetables, snacks etc?

Correct Answer is JioMart.

  • This will enable retailers and consumers to order essentials like groceries, vegetables, snacks etc.
  • The JioMart on WhatsApp service is expected to start in 2022.
  • The new ‘tap and chat’ option allows users to order groceries through Whatsapp and pay via JioMart or can opt for cash on delivery.


Q.12. Which bank has approved the $150-million ‘Chennai City Partnership: Sustainable Urban Services Programme’ that seeks to strengthen institutions and improve the quality and financial sustainability of selected urban services in Chennai?

Correct Answer is Asian Infrastructure Investment Bank.

  • Tamil Nadu is an economic powerhouse and is one of India’s most urbanized States. Chennai dominates the State’s demographic and economic landscape and is experiencing rapid physical growth and changes in its boundaries.
  • The programme will complement AIIB-supported urban transport projects-such as the Chennai Metro Rail (Phase 2, Corridors 4 and 5) and Peripheral Ring Road-by improving integration of public transport modes (in terms of routes, institutions and technology) and strengthening relevant institutions.


Q.13. Home First Finance Company India Ltd (HomeFirst) has entered into a strategic co-lending partnership with which bank to offer home loans to customers?

Correct Answer is Union Bank of India.

  • Under this partnership, HomeFirst will originate loans as per the agreed credit policy of UBI in line with the provisions of RBI’s Co-Lending Model.
  • HomeFirst will retain minimum 20 per cent of the loan on its book while 80 per cent will be on UBI’s book.


Q.14. NPCI International Payments Limited (NIPL) signed an MoU with which entity to enable real-time bank account payout in India?

Correct Answer is Western Union.

  • The agreement will enable bank account holders in India to receive cross-border money transfers instantly using UPI IDs.
  • It will benefit millions of Indian citizens to seamlessly receive money from across the world.


Q.15. Pine Labs has partnered with which bank to enable the bank’s credit cardholders to avail equated monthly instalments (EMI) offers?

Correct Answer is AU Small Finance Bank.

  • The Partnership offers EMI at the point of sale (PoS) and converts their customer’s regular purchase into interest-free EMIs across the over 2 lakh merchant base of Pine Labs, pan India.
  • Aim – To empower the underbanked with no cost EMI offers
  • Pine Labs contains more than 30 different credit issuers and Non-Banking Financial Corporation (NBFC) partners on its Android PoS terminals.


Q.16. Which bank has renewed its Memorandum of Understanding (MoU) with the Indian Army to offer benefits to all serving as well as retired army personnel and their families through its Defence Salary Package (DSP) Scheme?

Correct Answer is State Bank of India.

  • The MoU was signed in the presence of AG Lt. Gen. Harsha Gupta in New Delhi.
  • Under this MoU, SBI will offer enhanced complimentary personal accidental insurance (Death) cover, air accidental insurance (Death) cover, permanent/partial disability covers.
  • It also supports the education of children and the marriage of girl children of deceased army personnel.


Q.17. Which bank has been empanelled as a banking partner to the Government of Maharashtra with a view to offer its services to the state government employees?

Correct Answer is Equitas Small Finance Bank.

  • The agreement will enable the SFB to distribute salaries and allowances to the existing employees apart from making provision of pension to pensioners.
  • The other three banks assigned the role of distributing salaries and allowances to government employees are Bandhan Bank, Karur Vysya Bank and The South Indian Bank.


Q.18. Edelweiss General Insurance has partnered with which digital payment platform for digital motor insurance products?

Correct Answer is PhonePe.

  • PhonePe customers can now purchase EGI’s motor insurance policy in just a few clicks with zero paperwork.
  • EGI has launched on-demand, need-based, bite-sized insurance products, and is co-creating propositions in partnership in the digital ecosystem.


Q.19. With which bank the government of India has signed a 442.26 million euro loan pact for Surat Metro Rail project?

Correct Answer is Kreditanstalt für Wiederaufbau (KFW).

  • The total cost of the project is Euro 1.50 billion, out of which KfW is financing Euro 442.26 million.
  • The project is co-financed by French Development Agency, AFD (Agence Française de Développemet) with Euro 250 million.
  • The agreement for the same was signed on January 28, 2021.


Q.20. Which intergovernmental bank will provide USD 350 million loan to improve access to urban services in India by accelerating policy actions and reforms to enhance service delivery and promote performance-based central fiscal transfers to urban local bodies (ULBs)?

Correct Answer is Asian Development Bank.

  • The ADB will provide knowledge and advisory support to the Ministry of Housing and Urban Affairs in programme implementation, including monitoring and evaluation.
  • It will also support urban local bodies particularly in select low-income states to implement policy reforms, prepare investment plans, and provide recommendations on cross-cutting issues like climate change, environmental and social safeguards assessment, and gender equality and social inclusion.


Q.21. The Government of India has signed a $150-million loan agreement with Asian Development Bank (ADB) for a housing project for the urban poor in?

Correct Answer is Tamil Nadu.

  • Nearly half of Tamil Nadu’s 72 million population lives in urban areas making it one of the most urbanised States in India. 
  • Through the Tamil Nadu Urban Habitat Development Board, the project will construct houses in nine locations and relocate about 6,000 households vulnerable to natural hazards.


Q.22. Samunnati has entered into a co-lending agreement with which bank to expand credit accessibility for farmer producer organisations (FPOs) across the country?

Correct Answer is IndusInd Bank.

  • This collaboration will provide ₹15 crore as an initial amount disbursed to farmers collectives.
  • The primary aim is to ensure the self-sustainability and profitability of Farmer Collectives and their members, comprising mostly small-holder farmers.


Q.23. Which has become the first Indian insurance company to sign the United Nations-supported Principles for Responsible Investment (UNPRI)?

Correct Answer is ICICI Prudential Life Insurance.

  • In its journey towards promoting sustainability, the company is integrating ESG factors into its investment management framework. This private life insurer has also adopted sustainability principles across its business activities.
  • The sustainability framework is built on the three pillars of ESG which include leaving the planet a better place for the next generation, giving back to society and transparency in functioning.


Q.24. Pine Labs, a merchant commerce platform, has partnered with which bank with which the bank’s credit cardholders will now be able to avail of equated monthly instalments (EMI) offers at the point of sale and convert their regular purchase into interest-free EMIs?

Correct Answer is AU Small Finance Bank.

  • Pine Labs, a merchant commerce platform, has partnered with AU Small Finance Bank, the country’s largest small finance bank.
  • With this partnership, the bank’s credit cardholders will now be able to avail of equated monthly instalments (EMI) offers at the point of sale and convert their regular purchase into interest-free EMIs across the over 2 lakh merchant base of Pine Labs, pan India.
  • Currently, Pine Labs powers more than 30 different credit issuers and NBFC partners on its Android PoS terminals.

Obituaries

Q.1. Renowned personality R.L. Jalappa passed away recently, he was a veteran?

Correct Answer is Politician.

  • RL Jalappa was founder and Chairman of Devaraj Urs Medical College in Kolar and RL Jalappa Institute of Technology, Doddaballapur.
  • In 1979 he quit Congress to form the Karnataka Kranti Ranga with former Chief Minister D Devaraj Urs and he again joined congress in 1998.
  • In 1996, He was elected to the Lok Sabha from Chikballapur constituency, representing Janata Dal.


Q.2. Renowned personality KP Geethakrishnan passed away recently, he was a veteran?

Correct Answer is Bureaucrats.

  • He joined the Indian Administrative Service (IAS) in May 1958 and belonged to the Tamil Nadu cadre.
  • He held various positions in the State Government, including that of the Collector of Salem, Industries Secretary and Managing Director of the Tamil Nadu Industries Development Corporation.

Important Days

Q.1. International Tea Day is observed every year on?

Correct Answer is 15th December.

  • It is the second most used drink in the world after water. For some people, tea is an integral part of life which adds rhythm.
  • China is currently the largest exporter of tea. According to a study conducted by the Tea Board of India in 2007, around 80 per cent of the total tea produced in India is consumed by the domestic population.


Q.2. In India, Vijay Diwas (also called Victory Day) is celebrated every year on ?

Correct Answer is 16th December.

  • The country is celebrating the 50th Vijay Diwas in 2021.
  • Vijay Diwas is observed to commemorate the service, valour, and sacrifices of the gallant men of the Indian Armed Forces’ victory over Pakistan in the 1971 war. 
  • On this day, we pay homage to all the soldiers who had defended the nation in the war.


Q.3. The International Migrants Day is observed globally every year on?

Correct Answer is 18th December.

  • The day is marked by the United Nations, through the UN-related agency International Organization for Migration (IOM).
  • The day is observed to highlight the contributions made by the 272 million migrants, which includes more than 41 million people who are internally displaced persons, and the challenges they face.
  • The theme of International Migrants Day 2021 is Harnessing the potential of human mobility.


Q.4. Minorities Rights Day is observed every year on?

Correct Answer is 18th December.

  • The Minority Rights Day 2021 aims to uplift all the minority sections of society and back them to voice their opinion. Considering the COVID-19 pandemic, all the sessions, seminars, and debates are likely to take place digitally.


Q.5. World Arabic Language Day is observed globally every year on?

Correct Answer is 18th December.

  • The Arabic language is one of the pillars of the cultural diversity of mankind. It is one of the most widely used languages in the world, spoken daily by more than 400 million people.
  • The purpose of this day is to raise awareness of the history, culture and development of the language by preparing a program of special activities and events.


Q.6. International Human Solidarity Day is observed globally on which date every year to celebrate unity in diversity and raise awareness about the importance of solidarity?

Correct Answer is 20th December.

  • According to the United Nations Millennium Declaration, solidarity is among the fundamental values that are essential to international relations.
  • Solidarity is defined as an awareness of shared interests and objectives that create a psychological sense of unity and ties in a society that bind people together as one.

New Appointments

Q.1. Under whose chairmanship, the SEBI has constituted an Advisory Committee for Leveraging Regulatory and Technology Solutions (ALeRTS) to enhance technological capabilities and explore suitable technology solutions for the early detection of market anomalies?

Correct Answer is Madhabi Puri Buch.

  • The seven-member expert group will guide Sebi on ways to “enhance technological capabilities and explore appropriate technology solutions for early detection of market anomalies.”
  • The name given to the committee is ‘Advisory Committee for Leveraging Regulatory and Technology Solutions (ALeRTS)’.


Q.2. Who has been elected has been elected as the president of the Indian Newspaper Society (INS)?

Correct Answer is Mohit Jain.

  • He was elected during 82nd Annual General Meeting (AGM) of INS held through video conferencing.
  • He succeeds Lakshmipathy Adimoolam of Health & The Antiseptic.
  • K Raja Prasad Reddy (Sakshi) is the Deputy President, Rakesh Sharma (Aaj Samaj) is the Vice President and Tanmay Maheshwari (Amar Ujala) is the Honorary Treasurer of the Society for 2021-22.


Q.3. Name the cricketer who has been appointed as the brand ambassador of Uttarakhand with an aim to promote sports and create mental health awareness?

Correct Answer is Rishabh Pant.

  • The 24-year Pant, who was rested for the New Zealand Tests, is currently in South Africa as the Indian Team is all set to face Proteas in the three-match Test series, starting December 26.
  • Rishabh Rajendra Pant is an Indian cricketer who plays as a middle-order wicket-keeper batsman for India, Delhi, and the Delhi Capitals in the Indian Premier League.


Q.4. 35-year-old Gabriel Boric becomes the youngest president of which country and one of the youngest political leaders in the world?

Correct Answer is Chile.

  • Boric won with 56% of the votes, while his opponent 55-year-old José Antonio Kast trailed with 44% of the votes.
  • Boric as a student led Federation of Students at University of Chile in Santiago.
  • He rose to prominence after leading protests in 2011 demanding improved and cheaper education.


Q.5. Who has been appointed as Managing Director of Hyundai Motor India Limited with effect from 1st January 2022?

Correct Answer is Unsoo Kim.

  • He will succeed Seon Seob Kim, who was serving the company since November 2018.
  • He is currently with the parent company in South Korea
  • SS Kim has played pivotal role in Hyundai growth in the Indian market.


Q.6. Who assumed the charge as the chairman of the Chiefs of Staff Committee?

Correct Answer is MM Naravane.

  • The post fell vacant following the death of Chief of Defence Staff Gen Bipin Rawat in the IAF helicopter crash on December 8.
  • Gen Naravane has been given the charge as the chairman of the committee as he is the senior-most among the three service chiefs


Q.7. Who has been appointed as the Director General of Software Technology of India (STPI)?

Correct Answer is Arvind Kumar.

  • Before joining STPI, Kumar was working with Telecom Regulatory Authority of India (TRAI) since 2004.
  • As an advisor in TRAI, he was responsible for broadband, data security and privacy issues, manufacturing, DTH, IPTV, TV broadcasting and OTT, after having worked since 1997 in the Indian Government-run premier technology centre, C-DoT.
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