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

Weekly Current Affairs

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

The document Weekly Current Affairs (15th to 21st June 2020) Part - 1 Notes | EduRev is a part of the Current Affairs Course Weekly Current Affairs.
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Banking & Financial Awareness

1. As per the new framework of the RBI the National Payment Corporation of India and National Electronic Fund Transfer will be treated as _______ Financial Market Infrastructure (FMI).
➢ It is to be noted that in general Systematically important FMIs till now only included Real Time Gross Settlement (RTGS), Securities Settlement Systems (SSSs), Clearing Corporation of India Ltd. (CCIL) and Negotiated Dealing System (NDS).
➢ In addition, NPCI has also been designated as a “system wide important payment system (SWIPS).

2. Which bank has launched ‘Insta Flexicash’, an online overdraft facility for its salary account customers _________ICICI Bank.

➢ The end-to-end fully digital facility can be accessed with no documentation, using the Bank’s internet banking platform without visiting a bank branch.
➢ The customers can start using the approved overdraft limit within 48 hours.
➢ Bank offers the credit limit worth up to 3 times their net salary.

3. The Reserve Bank of India on its Discussion Paper on ‘Governance in Commercial Banks in India’ proposed maximum age limit for CEOs and whole time Directors belonging to the promoter group of banks is ______ 70 years.

➢ This offer has been made to improve administration in the banking sector.
➢ The tenure has been limited in order to strengthen the culture of consistent governance and to adopt the principle of separating management from ownership.

4. Who will chair the committee formed by the Reserve Bank of India (RBI) to review the guidelines related to ownership, governance and corporate structure of private sector banks ________ PK Mohanty.

➢ The RBI has constituted a 5-member Internal Working Group to review the guidelines related to ownership, governance and corporate structure of private sector banks.
➢ The RBI panel will also examine and review the eligibility criteria for individuals or entities to apply for a banking licence.
➢ It will also study the current regulations on holding of financial subsidiaries through a non-operative financial holding company.

5. Which Payments Bank has launched ‘Suraksha Salary Account’ for Micro, Small and Medium Enterprises (MSME) ______ Airtel Payments Bank.

➢ Through this innovative account construct, MSMEs and other organisations will be able to make cashless payments and also provide a financial security blanket to their employees.
➢ The account offers benefits such as Hospicash Insurance and personal accident insurance cover, keeping in mind the low penetration of insurance in India. The account has no minimum balance condition.

6. In accordance with the weekly statistical data released by the Reserve Bank of India (RBI), India’s foreign reserves crossed the _______$500 billion mark.

➢ India’s forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and India’s reserve position with the International Monetary Fund (IMF).
➢ The FCAs, the largest component of the forex reserves, increased by $8.422 billion to $463.630 billion.

7. According to UNCTAD’s World Investment Report 2020, the Global Foreign Direct Investment (FDI) flows are forecast to decrease by up to what per cent in 2020 _________40 per cent.

➢ This would bring FDI below $1 trillion for the first time since 2005 (figure 1). In addition, FDI is projected to decrease by a further 5% to 10% in 2021 and to initiate a recovery in 2022.

8. According to UNCTAD’s World Investment Report 2020 what is the position of India as recipient of the foreign direct investment in 2019 _______9th largest.

➢ The UNCTAD in its World Investment Report 2020 report said that a lower but positive economic growth in India in the post-Covid19 pandemic period and the country's large market will continue to attract investments.
➢ Earlier, the inflows stood at $42 billion when India ranked 12th worldwide in 2018. The country witnessed an increase in the inflows by $9 billion in 2019.

9. Which general insurance company has joined hands with UK based tech firm TropoGo Limited to launch India’s 1st ‘Pay as you Fly’ insurance for drone-owners in India ______ HDFC ERGO General Insurance Company.

➢ Members of this policy can claim an insurance cover of up to Rs 10 lakh on TropoGo mobile app & they can opt for 4 hours, one-day, or a one-month cover to insure themselves against third-party liabilities.

10. Which becomes the first Indian company to sign Climate Pledge with Amazon and Global Optimism to become Net-Zero Carbon by 2040 ______ Infosys.

➢ The company, which has initially set 2018 for its transition to 100 per cent renewable energy, has now set 2035 to complete the transition to RE.
➢ Measure and report the emission of greenhouse gases on a regular basis.
➢ Implement decarbonization strategies through changes in business and innovations through renewable energy, materials reductions etc.

11. As per the SEBI Substantial Acquisition of Shares and Takeovers Amendment Regulations, 2020 promoters owning 25% or more of the shares or voting rights in a company now can increase what percent shareholding in a year ______10%.

➢ SEBI Amended it after exercising the powers conferred under section 30 of the Securities and Exchange Board of India Act, 1992.
➢ SEBI has amended the regulation 3, in sub-regulation (2) of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 to enhance the acquisition limit for promoters of a listed company.

12. Which public sector lender planning to completely digitize its lending operations including home, agriculture, Micro, MSMEs, personal and Auto loans _____ Bank of Baroda.

➢ The bank has set up a new vertical, digital lending department at the corporate office, which will have substantial overlap with various credit verticals including Retail, MSME, Agri & service verticals like Analytics centre, Risk Management, Marketing.
➢ To set up this digital lending department the bank has reached out to the Big Four and some white shoe consultants like McKinsey and Boston Consulting Group.

13. Which Home Finance company has launched “SARAL” scheme for a special affordable house loan for urban and rural areas ________ ICICI Home Finance Company Limited.

➢ The loan requires compulsory ownership of a woman in the country’s rural areas from Rs 3 lakh to Rs 6 lakh. The maximum limit of the loan is Rs 35 lakh.
➢ The interest rate of the loan starts from 7.98%. The maximum tenure of the loan is 20 years. Customers with preexisting loans can also transfer their loans.

14. According to the payroll data of EPFO witnessed what percent increase in formal employment in 2019-20 _____________ 28.6 %.

➢ The main reason for this is the low withdrawal by EPFO subscribers due to the government’s policy reforms such as implementing GST, allowing fixed income contracts as well as better returns on PF (Provident Fund) deposits.
➢ Sectors such as Hospitality and Financial Institutions have experienced a 50% growth, while the formalities of the workforce in the textile sector have increased by 20 %.

15. As per the proposed new rules for Housing Finance companies the Reserve Bank of India has increased the Minimum net owned funds (NOF) from Rs 10 crore to_______ Rs 20 crore.

➢ In exercise of powers conferred under Section 29A (1) (b) of NHB Act, 1987, RBI proposes to increase the minimum NOF for HFCs from the current requirement of Rs10 crore to Rs 20 crore in order to strengthen their capital base.
➢ Existing HFCs will get one year to reach the level of Rs 15 crore and two years to increase it to Rs 20 crore.

16. Karnataka Bank in partnership with which company launched a health insurance policy to cover the individuals’ COVID-19 pandemic related health expenses ________ Universal Sompo General Insurance Company.

➢ The policy aims to cover the individuals’ COVID-19 pandemic related health expenses.
➢ The health cover can be availed at a nominal premium(current price without taking inflation or other factors into account) of Rs 399, inclusive of all taxes.

17. Which life insurance company has partnered with East Consultancy Services to offer Aadhaar-based paperless offline eKnow Your Customer (KYC) service _______ Tata AIA Life Insurance.

➢ This tie up helps to service the customer during the COVID-19 pandemic crisis.
➢ The e-KYC service will offer uninterrupted service to customers during the online application process for the company’s life insurance solutions.

18. Fitch Ratings has revised the outlook on India’s long-term foreign-currency issuer default rating (IDR) to negative from stable and affirmed the rating at _______ BBB-.

➢ The move comes after another rating agency Moody’s earlier this month downgraded India’s sovereign rating by a notch to lowest investment grade of ‘Baa2’ for the first time in 22 years.
➢ “Fitch Ratings has revised the outlook on India’s long-term foreign-currency issuer default rating (IDR) to negative from stable and affirmed the rating at ‘BBB-.

19. Maruti Suzuki India (MSI) has collaborated with which of the following banks to offer simpler and flexible financing plans for new clients _______ Karur Vysya Bank.

➢ Through the association with the bank, the company is trying to offer imminent purchasers exceptional plan of up to 100 per cent on-road funding with six months holiday period on all models, except van EECO, loans for both salaried and self-employed customers and repayment period up to 84 months.

20. According to Asian Development Outlook by the Asian Development Bank, in FY 2020-21 Indian economy is projected to contract by ________ 4 per cent.

➢ For Countries in ‘Developing Asia’, ADB forecasted growth of 0.1% in 2020. Excluding the newly industrialised economies of Hong Kong, China; the Republic of Korea; Singapore; and Taipei, China, Developing Asia’s growth predicted at 0.4% this year and 6.6% in 2021.
➢ ‘Developing Asia’ refers to a group of over 40 countries that are members of the ADB.
➢ The growth of South-Asia is predicted to contract by 3% in 2020, in comparison to 4.1% growth predicted in April, 2020. For FY21-22, growth prospects revised down to 4.9% from 6%.

21. Hyundai Motor India Limited partnered with which bank to offer industry 1st online auto retail financing on its end-to-end online automotive retail platform, ‘Click to Buy’ to the customers _______HDFC Bank.

➢ Under this collaboration, HMIL will provide customised car financing solutions to its customers from HDFC bank through its online car buying platform.
➢ This partnership enables the customers to choose loans and get the funds they need to buy their favorite Hyundai car without visiting HDFC Bank branch.

22. Which Indian company becomes the most valued company with almost Rs 11.83 trillion market capitalization ______ Reliance Industries Ltd (RIL).

➢ In dollar terms, RIL’s m-cap translates into $155 billion, making it the 54th largest company globally
➢ If the value of RIL’s partly paid shares of Rs 67,500 crore is added, then the company’s m-cap adds up to almost Rs 11.83 trillion.
➢ Importantly, RIL is the most valued firm followed by Tata Consultancy Services (TCS), which is valued at Rs 7.7 trillion.


1. Sushant Singh Rajput who found dead in his house in Mumbai was a veteran _______ Actor.

➢ 34-year-old actor committed suicide & found dead at his home in Bandra, Mumbai.
➢ He was born on 16th January 1986 in Patna, Bihar.
➢ He promoted the Women Entrepreneurship Platform of NITI Aayog which was launched on 8th March 2018.

2. Renowned personality Raj Mohan Vohra passed away recently due to COVID-19 was a veteran ________ Military personnel.

➢ Maha Vir Chakra awardee Lt Gen (retd) Raj Mohan Vohra passed away due to COVID-19. He was a 1971 war hero. Lt Gen Vohra had received the coveted award in 1972.
➢ The Maha Vir Chakra is that the country’s second-highest gallantry award.
➢ It is awarded for acts of conspicuous gallantry within the presence of the enemy whether on land, at sea or in the air.

3. Renowned personality Dinu Ranadive passed away recently was a veteran ________ Journalist.

➢ The veteran journalist was born in 1925 at a tribal hamlet at Dahanu near Mumbai, he started his journalistic career in 1956.
➢ Ranadive started his career as the founder-editor of Samyukta Maharashtra Patrika in the 1950s. He then did exemplary reporting on the Goa Freedom Struggle in 1961.

4. Film Director, Scriptwriter, and Producer K.R. Sachidanandan passed away recently, he was associated with which language films ________ Malayalam.

➢ Malayalam Film director, scriptwriter, and producer K.R. Sachidanandan passed away. His directorial debut was Anarkali in 2015.
➢ He had co-scripted numerous movies with Sethu and later began composing solo contents. Sachy was a rehearsing legal advisor at the Kerala High Court.

5. Renowned personality and B.P.R. Vithal passes away recently, he was a veteran ______ Economist.

➢ He also served as the Secretary, Finance and Planning, government of Andhra Pradesh, from 1972 to 1982.
➢ B.P.R. Vithal also worked at the International Monetary Fund as the fiscal adviser to the governments of Malawi and Sudan.
➢ He also played an instrumental role in the establishment of Centre for Economic and Social Studies, Hyderabad.

Important Days

1. The International Day of Family Remittances is observed every year on which date by the United Nations ______16th June.

➢ The day is observed all over the world.
➢ The theme of the for the year 2020 is ‘Remittances are a lifeline’
➢ The first International Day of Family Remittances was celebrated in 2015.

2. What is the theme of the World Day to Combat Desertification and Drought 2020 observed every year on 17th June _____ Food. Feed.Fibre. – the links between consumption and land.

➢ World Day to Combat Desertification and Drought is observed on 17th June every year.
➢ The day is observed to spread awareness among people about the cooperation required to combat desertification and the effects of drought.

3. Sustainable Gastronomy Day is observed globally every year on which date ______18th June.

➢ This day is observed to acknowledge gastronomy as a cultural expression related to nature as well as the cultural diversity of the world.
➢ It also reaffirms that each one culture and civilizations are contributors and crucial enablers of sustainable development throughout the planet.

4. World Hydrography Day is observed globally every year on which date ________21st June.

➢ World Hydrography Day is observed globally on 21st June every year. This day was adopted by the International Hydrographic Organization (IHO) as an annual celebration to publicise the work of hydrographers and the importance of hydrography.
➢ World Hydrography Day 2020 theme is “Hydrography enabling autonomous technologies”.

5. World Music Day is observed globally every year on which date ________21st June.

➢ Over 120 countries celebration World Music Day by organizing free public concerts in parks, streets, stations, museums and other such public places.
➢ The aim of celebrating World Music Day is to provide free music to everyone, and also to encourage amateur musicians to showcase their work to the world.

6. What is the theme of the International Day of Yoga 2020 celebrated world wide by the United Nations _______ Yoga for Health – Yoga at Home.

➢ Yoga is an ancient physical, mental and spiritual practice that originated in India.
➢ The word ‘yoga’ derives from Sanskrit and means to join or to unite, symbolizing the union of body and consciousness.
➢ The theme of International Day of Yoga 2020 is “Yoga for Health – Yoga at Home”.

New Appointments

1. Who has taken charges as the Chief of Staff of Eastern Naval Command (ENC) _______ Vice Admiral Biswajit Dasgupta.

➢ He replaced Vice Admiral S.N Ghormade, who has been appointed as Controller Personnel Services at the Integrated Headquarters, New Delhi.
➢ Mr Dasgupta was an alumnus of the NDA and commissioned into the Indian Navy in 1985.

2. Kubatbek Boronov has been appointed as the Prime Minister of which country _______ Kyrgyzstan.

➢ He succeeded Mukhammedkalyi Abylgaziyev who resigned on June 15 following accusations of corruption.
➢ Kyrgyzstan’s parliament approved the candidacy of Kubatbek Boronov with 105 votes out of 116.

3. Who has been appointed as the President of CSB Bank Limited ________ Pralay Mondal.

➢ He has around 30 years of banking experience across multiple business and functions including retail assets, retail liabilities, business banking, products and technology. Before joining Axis Bank, Mr. Mondal was the Senior Group President and Head of Retail and Business Banking at Yes Bank.

4. Who has been elected president of the 75th session of the UN General Assembly ________ Volkan Bozkir.

➢ Turkish’s diplomat Volkan Bozkir has been elected president of the 75th session of the UN General Assembly. The 75th session of the UN General Assembly begins in September 2020.
➢ Bozkir won the unanimous support of the 178 UN members. He will take over from Tijjani Muhammad-Bande, the present General Assembly president. A General Assembly president has a one-year term.

5. Name the Indian-American who has been appointed as the Director of the National Science Foundation (NSF) by the US senate _______ Sethuraman Panchanathan.

➢ He will replace France Cordova, whose six-year term ended in March, as the 15th director of the NSF. He is expected to take office on July 6.
➢ Panchanathan is the second Indian-American ever to be nominated to the prestigious science position with the first being Dr Subra Suresh who served from October 2010 to March 2013.

6. Who among the following has been appointed as the brand ambassador of JSW cement ________ Saurav Ganguly and Sunil Chhetri.
➢ JSW Cement has signed Sourav Ganguly and Sunil Chhetri as its brand ambassadors. The cement brand has also launched a new multi-media marketing campaign “Leader’s Choice” which includes both sports icons.
➢ The multi-media marketing campaign “Leader’s Choice” of JSW Cement promotes the ideology of building a solid foundation for a better tomorrow.

7. Who has been appointed as the Chairman of the National Institute of Public Finance and Policy (NIPFP) ______ Urjit Patel.

➢ The appointment of the Urjit Patel has been made for a period of four years. He will be replacing the outgoing chairman Vijay Kelkar.
➢ Urjit Patel has earlier served as the Governor as well as the Deputy Governor of the Reserve Bank of India (RBI). He resigned as the Governor of RBI in December 2018.

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