Weekly Current Affairs (1st to 7th April 2020) Part - 1 Notes | EduRev

Weekly Current Affairs

Current Affairs : Weekly Current Affairs (1st to 7th April 2020) Part - 1 Notes | EduRev

The document Weekly Current Affairs (1st to 7th April 2020) Part - 1 Notes | EduRev is a part of the Current Affairs Course Weekly Current Affairs.
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Banking & Financial Awareness

1. The Reserve Bank of India (RBI) has increased the foreign portfolio investment (FPI) limit in corporate bonds to ______15%.

➢ The Reserve Bank of India (RBI) has increased the foreign portfolio investment (FPI) limit in corporate bonds to 15% of outstanding stock for FY 2020-21 from 9%to strengthen the segment of the corporate bonds.
➢ The limit has been increased under sections 10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999).
➢ Apart from raising FPI limit in corporate bonds, RBI has also enabled a Fully Accessible Route (FAR) for investment by non-residents in government securities.

2. Which bank has launched Whatsapp banking to assist its customers in meeting the banking needs from homes during the lockdown ________ICICI Bank.
➢ Any existing ICICI Bank Savings Account customer on WhatsApp can access the new service.
➢ The customer who has only an ICICI credit card can use the service to block/ unblock the card.
➢ The Non-ICICI Bank customers can also use this service to know the nearby location of the Bank’s branches ATMs.

3. To launch ‘COVID-19 protection insurance cover’ for shopkeepers, in the 1st, BhartPe partnered with _______ICICI Lombard.

➢ According to this policy, 100% of the sum assured will be paid to the policyholder for the diagnosis of Coronavirus. This includes expenses incurred after hospitalization.
➢ The ICICI Lombard Health Cover, available on the BharatPe app, provided at a reasonable cost & offers a premium starting from Rs 199 and a sum assured of Rs 25,000 and value-added benefits.

4. Asian Development Bank (ADB) has signed a loan agreement worth of $60 million with affordable housing loan provider________ Aavas Financiers Ltd.
➢ The grant, provided under the ADB’s supporting access to housing finance for women and in lagging states project, will help increase higher rates of property ownership for women in lower-income groups.
➢ At present, India saw the acute housing shortage of 18.7 million units in urban region & 43.7 million units in rural region, that mostly affecting low-income groups, who are facing major problems in receiving mortgages including a lack of documents to prove their incomes.

5. Standard & Poor Global Ratings has slashed down India’s growth forecast for financial year 2020-21 to ________3.5%.

➢ The growth rate has been slashed due to the deteriorating credit conditions in the Asia-Pacific region as a result of the Covid-19 outbreak.
➢ It also expects a sharp growth at 7.3% in the Indian economy for FY22 & also has lowered India’s growth rate to 5.2% from 5.7% before lockdown.

6. The Reserve Bank of India (RBI) in consultation with the Government of India (GoI), has hiked the limit of Ways and Means Advances (WMA) for the first half of the financial year 2020-21 for the centre to _______ Rs 1.2 lakh crore.
➢ The increment will help state & central government to overtake the current mismatch in the cash flow of their receipts and payments & will step up expenditure in the social sector, including health and sanitation at the time of outbreak of the coronavirus (COVID-19) pandemic.

7. For the proposed a 4 -year COVID-19 emergency response & health systems preparedness project in India the World Bank has offered ______ USD 1 billion.
➢ The project aims to develop the preparedness of India’s health care systems in the time of the pandemic & also to respond and mitigate the pandemic.
➢ The project measures the progress on key indicators, such as the proportion of laboratory-confirmed cases of Covid-19 who responded within 48 hours and the proportion of samples submitted for the confirmed Severe acute respiratory syndrome coronavirus-2.

8. PhonePe has launched India’s first COVID-19 hospitalization insurance policy called Corona Care in collaboration with__________Bajaj Allianz General Insurance.
➢ The policy will provide an insurance cover of 50,000 on a one-time payment of Rs 156 for people who are under 55 years of age.
➢ The insured person will be eligible for the claim only if he/she is diagnosed with COVID-19 after 15 days from the date of purchase of this insurance.
➢ The policy will be valid at any hospital that is offering treatment for covid-19. It will also cover 30 days of expenses on pre-hospitalization and post-care medical treatment.

9. Which bank has listed green bonds of USD 100 million under its USD 10 billion global medium-term note programme on India International Exchange Limited’s (INX) Global Securities Market Green Platform (GSM) ________State Bank of India.
➢ SBI has adopted the green bond framework with the objective of creating a positive impact on the environment & this transaction is considered as part of the sustainability journey.
➢ The funds raised by green bonds are used to finance green projects that do not discharge toxic elements.

10. The United Nations (UN) Department of Economic and Social Affairs (DESA) World Economic Forecasting Model estimates that the global economy could shrink by _____1%.
➢ The UN has also warned if the restrictions on economic activities are extended without adequate fiscal responses, the decline could be even deeper.
➢ The analysis estimated best & worst scenarios for global growth in 2020

11. According to the Fitch Solutions India’s fiscal deficit is expected to go up to what per cent of GDP ______ 6.2 %.
➢ The reason for this is the economic stimulus package given to deal with the economic impact of the coronavirus (COVID-19) epidemic.
➢ The government had set a target of limiting the fiscal deficit to 3.5 % of GDP during the current financial year FY 2020-21.

12. Asian Development Bank (ADB) in its Asian Development Outlook (ADO) 2020 has forecasted a slowdown in Indian economic growth to ______4%.
➢ For FY 21-22 it has predicted Indian economic growth to 6.2%.
➢ On the region front, Asia and Pacific are expected to decline to 2.2% in FY 20-21 and then rebound to 6.2% in 2021.
➢ Also, the growth in South Asia will downgrade to 4.1% in FY 20-21 and then recover to 6% in FY 21-22.

13. Fitch Ratings has trimmed the Indian growth forecast for fiscal year (FY) 2020-2021 to ________ 2%.

➢ This would be the slowest growth in India over the past 30 years.
➢ On the global front, Fitch has predicted a contraction of 1.9% in GDP (Gross Domestic Product) growth for FY 20-21.

14. The government of India has nominated Indian Overseas Bank (IOB) and which private sector bank for for the collection of donations PM-CARES Fund __________HDFC Bank.

➢ The contributions can be made by RTGS, NEFT, IMPS, cheques and demand drafts were drawn in favour of PMCARES Fund.
➢ One can also remit contributions directly by electronic clearing system (ECS) to the designated savings bank account of nominated banks.
➢ It should be noted that all donations are entitled to 100% income tax exemption under Section 80G of the Income Tax Act, 1961.


1. Professor Arjun Dev passed away recently; he was a veteran _________Historian.
➢ He served as a historian at the National Council of Education Research and Training (NCERT). He also co-wrote some of the extremely popular textbooks with his wife Indira Arjun Dev.
➢ Arjun Dev served as Member Secretary of the National Steering Committee on Textbook evaluation.
➢ One of his books, which was discontinued by NCERT and was republished by Orient Blackswan as “History of the World: From the Late 19th to the Early 20th century”, has remained a widely read text.

2. Name the Nobel Prize- winning physicist who expanded the world’s understanding of magnetism, superconductivity and the structure of matter, passed away ________Philip Warren Anderson.
➢ The American theoretical physicist graduated from Harvard University in 1949 & then worked for Bell Telephone Laboratories until he began teaching at Princeton and the University of Cambridge.
➢ Anderson received Nobel Prize in Physics in 1977, along with Nevill Francis Mott of Britain & the American John Hasbrouck van Vleck, for their contribution on fundamental theoretical investigations of the electronic structure of magnetic and disordered systems.

3. Padma Shri awardee and former “Hazoori Raagi” at the Golden Temple, passed away is _______Bhai Nirmal Singh Khalsa.
➢ He has the knowledge of all 31 “raags” in the Gurbani of the Guru Granth Sahib (Sikh Holy Book).
➢ In 2009, Singh received the Padma Shri award from the Government of India for his contribution of services in the field of arts and he was the first Hazoori Raagi to receive the award.

4. Name the American singer-songwriter, record producer and bassist passed away due to Coronavirus ________Adam Lyons Schlesinger.
➢ He was the co-founder of the 2000s pop-rock band “Foundations of Wayne” & known for co-writing the band’s 2003 hit “Stacy’s Mom”.
➢ Schlesinger won 3 Emmy awards, two for original music and lyrics for the 2011 and 2012 Tony Awards and, another for original music and lyrics for “Crazy Ex-Girlfriend” in 2015.
➢ ”A Colbert Christmas”, co-written by Schlesinger & David Javerbaum, won him the 2009 Grammy Award for Best Comedy Album.

5. Name the world renowned virologist passed away in Johannesburg, South Africa ______ Gita Ramjee.

➢ She was the stellar vaccine scientist and an HIV prevention research leader.
➢ Gita was born on April 8, 1956, in Kampala, Uganda. She served as the Clinical Trials Unit Principal Investigator and Unit Director of the HIV Prevention Research Unit of the South African Medical Research Council (SAMRC) offices in Durban.

6. Name the American songwriter, soulful singer, guitarist & 3 time Grammy award winner passed away recently ________ Bill Withers.

➢ He is well known for these compilations- Lean on Me, Ain’t No Sunshine, Just the two of us (for which he received Grammy awards) & Lovely Day.
➢ He has produced 9 albums, his debut album is Just As I Am(1971) & the last album was Watching You Watching Me(1985).
➢ In 2006 he was awarded the American Society of Composers, Authors and Publishers (ASCAP) Rhythm & Soul Heritage Award, in 2007- Inducted into West Virginia Music Hall of Fame & in 2015- Inducted into Rock and Roll Hall of Fame

7. Name the Libya’s former Prime Minister who passed away due to Coronavirus __________ Mahmoud Jibril el-Warfally.

➢ He served as the interim Prime Minister (PM) of Libya for almost a year during the Libyan Civil War in 2011, chairing the executive board of National Transitional Council and later killed Moammar Gaddafi in 2011.
➢ He also served as an economic advisor to the Gaddafi government before the revolution and served as the interim leader until the country held its first free elections in four decades in 2012.

8. M.K. Arjunan passed away recently, he was a renowned _________ Malayalam Music Composer.

➢ He tuned about 700 songs, many of them among the biggest hits of all time.
➢ His songs were celebrated as much as those of great composers like G. Devarajan (who was also his guru), M.S. Baburaj, V. Dakshinamoorthy and K. Raghavan.
➢ Arjunan was awarded Kerala State award for the best composer in 2017 for Jayaraj’s Bhayanakam.

Important Days

1. World Autism Awareness Day is observed every year on _______April 2.
➢ The World Autism Awareness Day is observed to raise awareness about autism and problems faced by people suffering from it.
➢ The day has been observed since 2008.
➢ The day is one of the seven health-based United Nations (UN) days.
➢ The theme for 2020 is “The Transition to Adulthood”.

2. The International Day for Mine Awareness and Assistance in Mine Action is observed every year on __________4th April.

➢ It is observed to create awareness on landmines, other threats and progress towards their eradication.
➢ In 2005, the UN (United Nations) General Assembly declared April 4 as the International Day for Mine Awareness and Assistance in Mine Action.

3. The 57th Edition of National Maritime Day (NMD) was celebrated on _________ April 5, 2020.

➢ The day is observed annually to raise awareness in supporting intercontinental commerce and the global economy.
➢ The National Maritime Day was first celebrated on April 5, 1964.
➢ The saga of India shipping first started on April 5, 1919, when the SS Loyalty, the first ship of The Scindia Steam Navigation Company Limited travelled from Mumbai to the United Kingdom (UK).

4. The International Day of Conscience (IDC) is observed for the 1st time on _______5th April 2020.

➢ This is celebrated to recognize the need to establish stability, well-being, peaceful and friendly relations on the basis of respect for human rights and fundamental freedoms for all.
➢ FIFA has joined forces with the United Nations (UN) and the World Health Organization (WHO) in supporting the”#BeActive campaign” launched on the UN International Day of Sport for Development and Peace

5. The International Day of Sport for Development and Peace (IDSP) is celebrated every year on _________6th April.
➢ This is celebrated to recognize the power of sport in promoting social change, community development and to encourage peace and understanding.
➢ The United Nations (UN) General Assembly in 2013 has declared April 6 as IDSP & is celebrated annually since then 2014.

New Appointments

1. Who has been appointed as the Managing Director of the Sundaram Home Finance ________ D. Lakshminarayanan.

➢ He will take charge on April 1, 2020 and will replace Srinivas Acharya.
➢ Srinivas Acharya has been the company’s MD since 2010 & has been part of the Sundaram Finance Group for almost 4 decades.
➢ The company had posted a total income of Rs 1006 crore and a net profit of Rs 145 crore for the financial year 2019.

2. The government extended the tenure of National Company Law Tribunal (NCLT) acting President ________BSV Prakash Kumar.

➢ Earlier he was appointed as the acting President for 3 months from January 5 after the retirement of NCLT president Justice Mahesh Mittal (M.M.) Kumar.
➢ He previously served as a Judicial Member of the NCLT’s Madras bench.

3. The Government has extended the appointment of Madhabi Puri Buch as a whole time member (WTM) of the _________ SEBI.

➢ She was appointed as a WTM of SEBI for a period of 3 years in April 2017 whereas all the appointed members and Chairman of SEBI were only men from the public sector, Reserve Bank of India (RBI) or the Indian Administrative Service (IAS).
➢ She was not only the first woman to be appointed as a WTM of SEBI but also the first person from the private sector.
➢ In SEBI, she handles a range of departments from market and market intermediaries regulation to integrated surveillance and economic and policy analysis.

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