Weekly Current Affairs (1st to 7th April 2021) Part - 1 Current Affairs Notes | EduRev

Current Affairs & Hindu Analysis: Daily, Weekly & Monthly

Current Affairs : Weekly Current Affairs (1st to 7th April 2021) Part - 1 Current Affairs Notes | EduRev

The document Weekly Current Affairs (1st to 7th April 2021) Part - 1 Current Affairs Notes | EduRev is a part of the Current Affairs Course Current Affairs & Hindu Analysis: Daily, Weekly & Monthly.
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Banking & Financial Awareness

Q1. Facebook has partnered with which entity to connect the United States of America with Southeast Asian countries through undersea cables? 

Correct Answer is Google

  • At the initial stage, 2 undersea cables: Echo and Bifrost, will be connecting the US with Indonesia through a diverse sea route in the Trans-pacific region.
  • Note- Facebook deploys 3000 Kms of fibre in Indonesia to develop public Wi-Fi hot spots.
  • “Echo” – Constructed by Facebook in partnership with Google & XL Axiata, an Indonesian telecom company. It is expected to get completed by 2023.


Q2. Which institution has released a report titled ‘Investment Opportunities in India’s Healthcare Sector’ that highlighted the range of investment opportunities in different segments of India’s Healthcare sector? 

Correct Answer is NITI Aayog

The report highlights the range of investment opportunities in different segments of India’s Healthcare sector.

Investments in the Healthcare sector are expected to reach USD 372 Billion in 2022.

The FDI inflows in the sector increased from USD 94 million in 2011 to USD 1, 275 million in 2016 (a jump of over 13.5 times).


Q3. Which private sector bank has collaborated with UK based business banking fintech Tide Platform Limited (Tide) to provide bank account infrastructure to Tide’s India platform, which is focused to serve mainly small and medium enterprises (SMEs)? 

Correct Answer is RBL Bank

  • Tide’s first market outside the UK, is India due to its vast SME population of around 63 million, and the people’s entrepreneurial spirit.
  • Gurjodhpal Singh the former vice president of PayU (Payment Service Provider) will lead Tide’s business in India.


Q4. Which small finance bank partnered with nStore Technologies Private Limited (nStore)to digitise offline retailers and small businesses in India? 

Correct Answer is Ujjivan Small Finance Bank

  • Ujjivan Small Finance Bank(Ujjivan SFB) partnered with nStore Technologies Private Limited (nStore)to digitise offline retailers and small businesses in India.
  • Under this collaboration, Ujjivan SFB will offer the mobile application ‘nLincs’, to its current account holders who own local businesses and enable them to sell their products online.


Q5. Which bank has signed a loan agreement of $1 billion with the Japan Bank for International Cooperation (JBIC) to provide loans for the whole range of business operations of the Japanese automobile manufacturers in India? 

Correct Answer is State bank of India

  • In October 2020, SBI similar $1 billion loan agreement with JBIC. After the current loan agreement, the total loan facility is now about $2 billion.
  • The financing will assist the Government’s ‘Make in India’ initiative.
  • SBI will provide the loan with refinancing for the funding support to the manufacturers, suppliers and dealers of Japanese automobiles in India.


Q6. According to the report titled “Economic and Social Survey of Asia and the Pacific 2021” released by the UN-ESCAP, by which rate the Indian Economy will grow in the financial year 2021-22? 

Correct Answer is 7 per cent

  • The report has forecasted the Indian economy to grow at 7% in FY21 against a contraction of 7.7%(-7.7%) in FY20.
  • It reported a “K-shaped recovery” in the economics of the Asia Pacific region, including India.


Q7. Which two banks have tied up to launch a New Umbrella Entity (NUE) for retail payments along with global e-commerce major Amazon and cards major Visa as their partners? 

Correct Answer is ICICI Bank and Axis Bank

  • ICICI Bank and Axis Bank will be co-leading with each having a 20% stake (40%) and the other partners including Amazon, Billdesk, Pine Labs and Visa will be holding a stake of 15% each (60%)
  • RBI allowed other organisations to set up umbrella entities for payments systems to create an alternate mechanism(rivalry) to the National Payments Corporation of India (NPCI) for speeding up the cashless payment.
  • RBI has fixed March 31, 2021, as the deadline for making application to form NUEs.


Q8. According to the South Asia Economic Focus Spring update report published by the World Bank, what will be the growth rate of the Indian economy in FY 2021-22?

Correct Answer is 10.1%

  • Real India GDP growth will be in the range of 7.5% to 12.5%.
  • As per World Bank, government consumption is expected to rise by about 16.7% during the reported fiscal.
  • Report forecast growth for the South Asia region at 7.2% in 2021 and 4.4% in 2022.


Q9. What amount has been announced by the government to infuse in the in 4 state-owned banks in 2020-21, by issuing noninterest-bearing bonds to these banks? 

Correct Answer is Rs 14,500 crore

  • Four Banks are Central Bank of India, Indian Overseas Bank, Bank of India and UCO Bank
  • Recapitalisation bonds will be issued with six different maturities, and special securities will be at par for the amount as per eligible bank application
  • This infusion will complete govt’s total capital infusion of Rs 20,000 crore in PSBs for 2020-21.


Q10. RBI has extended the timeline for processing recurring online transactions till? 

Correct Answer is September 30, 2021

Prior to this, in December 2020, RBI had directed all banks including RRBs, NBFCs, and payment gateways that processing of recurring transactions (domestic or cross-border) using cards or Prepaid Payment Instruments (PPIs) or Unified Payments Interface will not be continued beyond March 31, 2021 if they do not comply with Additional Factor of Authentication (AFA).


Q11. Who among the following represented India in the 6th annual meeting of the Board of Governors of New Development Bank (NDB)? 

Correct Answer is Nirmala Sitharaman

  • Union Minister of Finance & Corporate Affairs and India’s Governor in New Development Bank (NDB), Smt. Nirmala Sitharaman attended the 6th Annual Meeting of Board of Governors of New Development Bank through videoconference in New Delhi today.
  • The meeting was also attended by Governors/Alternate Governors of Brazil, China, Russia and South Africa.


Q12. The National Investment & Infrastructure Fund Ltd (NIIFL) invested Rs 2100 crore in which Hospital Group that is its first investment in the Indian healthcare sector?

Correct Answer is Manipal Hospitals

  • NIIFL will get a minority stake in Manipal Hospitals as Chairman of Manipal Education and Medical Group RanjanPai is selling a small percentage of his stake in the company.
  • In January 2021 Manipal Health Enterprises Private Limited acquired the Columbia Asia Hospital.
  • This investment will support Manipal Hospitals’ journey of growth to become one of India’s largest hospital chains.
  • NIIFL manages over $4.5 billion of equity capital commitments across three funds (master fund, fund of funds and Strategic Opportunities Fund).


Q13. Which bank has bought the Reliance Centre of Reliance Infrastructure Limited (RInfra) at Santacruz, Mumbai, Maharashtra for Rs.1200 crores? 

Correct Answer is Yes Bank

  • This sale of the office building of 21432.28 square meter plot in Santacruz is utilized to repay the debt of YES Bank.
  • Under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act 2002, The YES bank has issued the demand notice to Reliance Infrastructure Ltd on 6th May 2020, for nonpayment of loans amounting to Rs. 2,892 crore.


Q14. Which digital Payment company has become the first company to cross one billion transactions on Unified Payments Interface (UPI) infrastructure? 

Correct Answer is PhonePe

  • The company achieved the feat in March 2021, when the total transactions clocked around 1.3 billion on its platform, across the payment instruments offering of wallet, cards as well as UPI.
  • PhonePe, which first achieved market leadership on UPI in December, last year, has seen its transaction count grow steadily, on the back of rising merchant payments.


Q15. Which Bank has partnered with digital payments company PhonePe for the issuance of FASTags using UPI on the PhonePe app? 

Correct Answer is ICICI Bank

  • This integration allows over 280 million registered users to order and track FASTag conveniently on the app.
  • PhonePeusers, who may be customers of any bank, will have a fully digitised experience as they don’t have to visit physical stores or toll locations to buy a FASTag. ICICI Bank is the first bank to partner with PhonePe for the issuance of FASTag.


Q16. According to the latest World Economic Outlook report released by IMF what is India’s growth projection for India? 

Correct Answer is 12.5%

  • International Monetary Fund (IMF) has upgraded its growth projection for India to 12.5% for Financial Year 2021- 22 in its latest World Economic Outlook report.
  • IMF projected global economy to expand 6% this year, up from the 5.5% pace estimated in January.


Q17. What is the new loan limit under Priority Sector Lending (PSL) against the Negotiable Warehouse Receipts (NWRs)/electronic-NWRs(e-NWRs) as prescribed by the Reserve Bank of India? 

Correct Answer is Rs 75 lakh

  • With a view to ensure greater flow of credit to the farmers against pledge/hypothecation of agricultural produce, and to encourage use of NWR/eNWR issued by regulated warehouses as a preferred instrument for availing such finance by the farmers, it has been decided to enhance the PSL limit for loans against NWRs/eNWRs from ₹50 lakh to ₹75 lakh per borrower.
  • The PSL limit backed by the warehouse receipts other than NWR/eNWR will continue to be ₹50 lakh per borrower.


Q18. The Reserve Bank of India has enhanced the limit of maximum balance at end of the day maintained in Payments Bank from Rs 1 lakh to? 

Correct Answer is Rs 2.0 lakh

  • Earlier, the limit was ₹1 lakh.
  • Payments bank aims to further financial inclusion, especially through savings accounts and payments services
  • The central bank introduced payments banks in the country to enhance financial inclusion.


Q19. What is the increased limit of the Way and Means Advances (WMA) for the State Governments/UTs as on April 2021? 

Correct Answer is Rs. 47,010 crore

  • The central bank provides this support to governments under its ways and means advances (WMA) mechanism.
  • The new limit has been fixed at Rs 47,010 crore, compared with the previous Rs 32,225 crore.
  • There are two types of WMA – normal and special. While normal WMA is clean advances, special WMA is secured advances provided against the pledge of government securities.


Q20. On the recommendation of which committee, the RBI has increased limits for Way and Means Advances (WMA) for the State Governments/UTs from Rs. 32,225 crores (fixed in February 2016) to Rs. 47,010 crores? 

Correct Answer is the Sudhir Shrivastava committee

  • This represents an increase of about 46%.
  • There are two types of WMA – normal and special. While normal WMA is clean advances, special WMA is secured advances provided against the pledge of government securities.
  • Earlier in the month, RBI fixed the WMA limit for the central government at Rs 1,20,000 crore for the first half of the financial year 2021-22.


Q21. Which entity has proposed to construct and publish a Financial Inclusion Index (FI Index) based on multiple parameters? 

Correct Answer is RBI

  • The RBI proposes to construct and publish a Financial Inclusion Index (FI Index) based on multiple parameters.
  • This will be published in July every year for the financial year ending previous March.
  • Over the past few years, the banking regulator has announced several measures to step up financial inclusion and reach the unbanked.
  • Last year, the RBI had released the National Strategy for Financial Inclusion for India 2019-2024.


Q22. Which is the technical and banking partner for the development of “मधुक्रान्तिपोर्टल” launched by the Union Minister for Agriculture and Farmers' Welfare Shri Narendra Singh Tomar to enable traceability source of honey and other beehive products? 

Correct Answer is Indian Bank

  • This portal is being developed for online registration to achieve traceability sources of Honey and other beehive products on a digital platform.
  • The technical and banking partner for the development of this digital platform is Indian Bank.
  • An MoU between NBB and Indian Bank was signed for this project.


Q23. Maruti Suzuki has signed a Memorandum of Understanding (MoU) with which bank to offer auto finance deals to customers? 

Correct Answer is Karnataka Bank

  • Under the purview of this tie-up, people buying a Maruti Suzuki car will be able to avail this car loan offer across 858 branches of Karnataka Bank all over India.
  • This partnership is aimed to make the vehicle buying journey easy and affordable for our customers. Rapid technological development and new digital consumer behaviours are determining auto sales across India.


Q24. Which bank has become co-promoters of Max Life Insurance Company Limited, after completion of the acquisition of a 12.99% stake collectively by the bank in the company? 

Correct Answer is Axis Bank

  • The lender said that Axis Bank and its two subsidiaries—Axis Capital Limited and Axis Securities Limited – will collectively own 12.99% stake in Max Life after the consummation of the deal.
  • With the conclusion of this transaction, Max Life’sBoard will be strengthened further, with co-option of three nominee directors of Axis Entities on its Board.


Obituaries

Q1. Japanese Nobel Laureates, Isamu Akasaki passed away recently, he had won the prize in which subject? 

Correct Answer is Physics

  • Akasaki, a professor at the university, had been recognized for the invention which has contributed to bright and energy-saving white light sources, widely known as LED lamps.
  • He was honoured in 1997 by the Japanese government with the Medal with Purple Ribbon, an honour bestowed on those who have made contributions to academic and artistic developments.


Q2. Renowned personality Shashikala Om Prakash Saigal passed away recently, she was veteran? 

Correct Answer is Actress

  • She was featured in over 100 popular movies like Bimla, Sujata, Aarti, Anupama, Gumrah, Khubsoorat, Mujhse Shaadi Karogi, and Kabhi Khushi Kabhie Gham.
  • She was awarded Padma Shri in 2007


Q3. Renowned personality P Balachandran passed away recently, he was a veteran? 

Correct Answer is Malayalam Actor

  • About 50 Malayalam film fall under his credit as an actor and screenwriter. His character in the film ‘Trivandrum Lodge’ was noteworthy.
  • He is noted for his works like Punaradhivasam and Kammatipaadam. Punaradhivasam has won a national award and two state awards, while critically acclaimed Kammatipaadam grabbed four state awards.
  • He won two major awards, the Kerala Sahitya Akademi Award and Kerala Professional Nataka Award for his play ‘Paavam Usman’ in 1989.


Q4. Renowned politician Bhagwati Singh passed away recently, he was associated with which party? 

Correct Answer is Samajwadi Party

  • A Samajwadi Party member of the Rajya Sabha from July 2004 to 2010, Bhagwati Singh joined the socialist movement following inspiration from the socialist ideologue Ram Manohar Lohia.
  • Bhagwati Singh was a member of Mulayam cabinet and later stood by Akhilesh Yadav when he was elected as the SP national president. He led the management of Chandrabhanu Gupta Agriculture College in Bakshi ka Talab.


Important Days

Q1. International Children’s Book Day (ICBD) is organized every year on which date to inspire a love of reading and to call attention to children’s books? 

Correct Answer is 2nd April

  • It was first observed in 1967 by International Board on Books for Young People (IBBY)
  • Each year a different National Section of IBBY has the opportunity to be the international sponsor of ICBD and decide upon a theme.
  • IBBY United States is the sponsor for International Children’s Book Day 2021.
  • Theme 2021: The Music of Words.


Q2. What is the theme of the World Autism Awareness Day 2021? 

Correct Answer is ‘Recognise the Genius in Me’

  • It is a day that spread kindness and autism awareness.
  • Theme: ‘Recognise the Genius in Me’.
  • Autism is a neurodevelopment disorder characterized by deficits in social and language communication, as well as repetitive behaviours and restricted interests.


Q3. The United Nations’ International Day for Mine Awareness and Assistance in Mine Action is observed every year on which date? 

Correct Answer is 4th April

  • This day aims to raise awareness about landmines and progress toward their eradication.
  • This year, the theme of International Mine Awareness Day is Perseverance, Partnership, and Progress. This year, the UN has laid focus to advance the work so that new partnerships can be formed.


Q4. International Day of Conscience is celebrated every year on which date? 

Correct Answer is 5th April

  • Declared by the United Nations, this day is observed in order to self-reflect on our life and try and do the right things all the time.
  • The purpose behind this was simple.
  • People's conscience helps to act upon certain situations in the best way possible.
  • It also empowers to do better in society.


Q5. The International Day of Conscience is celebrated every year on which date? 

Correct Answer is 5th April

  • The International Day of Conscience is a global day of awareness celebrated on April 5, commemorating the importance of the human conscience.
  • This day serves to remind people to self-reflect, follow their conscience, and do the right things.


Q6. International Day of Sport for Development and Peace is observed every year on which date? 

Correct Answer is 6th April

  • The day as the name suggests is marked to celebrate the positive contribution of sports towards sustainable development and advancement of human rights.
  • The day came into existence after the UN General Assembly passed resolution 67/296 in 2013.


Q7. World Health Day is observed every year on which date? 

Correct Answer is 7th April

  • World Health Day is observed every year on April 7 to create awareness of a specific health theme to highlight a priority area of concern for World Health Organization
  • Theme for World Health Day 2021: “Building a fairer, healthier world for everyone”


New Appointments

Q1. Who takes the additional charge as Chairman and Managing Director (CMD) of Oil and Natural Gas Corporation (ONGC)? 

Correct Answer is Subhash Kumar

  • He is presently serving as the Director (Finance) at ONGC.
  • He succeeded Shashi Shanker, who superannuated on March 31, 2021
  • Subhash Kumar has over 36 years of experience in diverse activities across Exploration & Production (E&P) value chain.


Q2. Who has been appointed as the Director-General of Employees’ State Insurance Corporation (ESIC)? 

Correct Answer is Mukhmeet S. Bhatia

  • He has worked as the Additional Secretary in the Department of Economic Affairs, Ministry of Finance
  • He has also served as the Principal Secretary in Dept. of Labour & Employment and Women & Child Development in Jharkhand.


Q3. Who has been appointed as the chairperson of the Public Enterprises Selection Board (PESB)? 

Correct Answer is Mallika Srinivasan

  • Chairman and Managing Director of Tractors and Farm Equipment (TAFE) Limited, Mallika Srinivasan has been appointed as the chairperson of the Public Enterprises Selection Board (PESB), an order issued by the personnel ministry.
  • This is for the first time that a private sector specialist has been appointed as the head of the PESB, responsible for the appointment of top management posts in the Central Public Sector Enterprises (CPSEs).


Q4. Who among the following has recently been appointed as the additional director of at Britannia Industries board? 

Correct Answer is Urjit Patel

  • The Board of Britannia Industries has appointed former Reserve Bank of India (RBI) Governor Urjit Patel as the Additional Director of the company.
  • He has been appointed for a period of five years, in the category of Non-Executive and Independent Director.


Q5. Who has been appointed as the head of the BCCI's Anti-Corruption Unit?

Correct Answer is Shabir Hussein Shekhadam Khandwawala

  • Khandwawala, a 1973 batch IPS officer, has been appointed ahead of the IPL beginning April 9.
  • He retired as Gujarat DGP in December 2010. After that he was an advisor to the Essar Group for 10 years.
  • He has also been a part of the central government's Lokpal Search Committee, which was mandated to appoint the Lokpal.


Q6. Who has been appointed as the 48th Chief Justice of India?

Correct Answer is N V Ramana

  • Justice Ramana will have a term till August 26th next year.
  • Before his elevation to the Supreme Court on February 17th, 2014, Justice Ramana was the Chief Justice of the Delhi High Court.
  • He was born in an agricultural family in Andhra Pradesh.


Q7. Who has been appointed as Brand Ambassador of Digit Insurance? 

Correct Answer is Virat Kohli

  • Digit Insurance, a general insurance company that became the first unicorn of 2021 with a valuation of $1.9B.
  • With this association, the company aims to carry the message of ‘making insurance simple’ through the cricketer.
  • Digit was able to get the Indian Men’s Cricket Team Captain to invest in the company before he planned to become the face for the brand.


Q8. Who has been appointed as the new revenue secretary under the Ministry of Finance? 

Correct Answer is Tarun Bajaj

  • Tarun Bajaj has been appointed as the new revenue secretary under Ministry of Finance.
  • He will take additional charge of Secretary, Department of Revenue, after the superannuation of Ajay Bhushan Pandey.


Q9. Who has been appointed the mission director of Atal Innovation Mission (AIM)? 

Correct Answer is Chintan Vaishnav

  • Chintan Vaishnav has been appointed as the mission director of Atal Innovation Mission (AIM), the government’s flagship initiative under NITI Aayog.
  • He will succeed Ramanathan Ramanan.


Q10. Who has been appointed as the Chairman and Managing Director of SIDBI? 

Correct Answer is S Ramann

  • The appointment is for a period of three years from the date of his assuming the charge or until further orders.
  • Ramann, a 1991-batch Indian Audit & Accounts Service officer, is currently the CEO of National E-Governance Services Ltd, India's first Information Utility.


Q11. Who has been appointed as the Director-General of the National Council of Applied Economic Research (NCAER)? 

Correct Answer is Poonam Gupta

  • Gupta will succeed the current head of the think tank, Shekhar Shah, to become the first woman to hold the post.
  • Prior to joining the World Bank in 2013, Gupta was the Reserve Bank of India Chair Professor at NIPFP, and a Professor of Macroeconomics at ICRIER.
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