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

Weekly Current Affairs

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

The document Weekly Current Affairs (1st to 7th February 2021) Part - 1 Current Affairs Notes | EduRev is a part of the UPSC Course Weekly Current Affairs.
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Banking & Financial Awareness

Q1. The Reserve Bank of India (RBI) has canceled the license of Shivam Sahakari Bank Ltd based in which state? 

Correct Answer is Maharashtra

Following the cancellation of its license, the bank will stop to carry on the banking business, which includes accepting and repaying deposits as defined in Section 5(b) read with Section 56 of the Banking Regulation (BR) Act, 1949, with effect from the close of business on January 29, 2021.The bank can start the liquidation proceeding, with the cancellation of the license.


Q2. Which entity has set up an ‘Innovation Sandbox’ web portal, a workflow-based platform that enables FinTech firms and individuals to do offline testing of their applications? 

Correct Answer is Bombay Stock Exchange (BSE)

  • It is a testing environment that enables FinTech firms and individuals to do offline testing of their applications.
  • The innovation sandbox is set up as per the guidelines of Securities and Exchange Board of India (SEBI).
  • The aim of the portal is to create an ecosystem which promotes innovation in the securities market.


Q3. As per the ‘Brand Finance Global 500 2021 Ranking, which Indian firm has emerged as the fifth strongest brand in the globe? 

Correct Answer is Reliance Jio

  • The Reliance Industries subsidiary had a Brand Strength Index (BSI) score of 91.7 out of 100.
  • The list is topped by WeChat with a BSI score of 95.4 followed by Ferrari with 93.9 BSI score.
  • Russian bank Sber is spotted in 3rd rank with 92.0 BSI score followed by Coca-Cola with 91.7 BSI score.


Q4. The Reserve bank of India has appointed an external IT firm for carrying out a special audit of IT infrastructure of which of the following banks? 

Correct Answer is HDFC Bank

  • RBI has appointed an external professional IT firm for carrying out a special audit of the entire IT infrastructure of the bank under Section 30 (1-B) of the Banking Regulation Act, 1949..., at the cost of the Bank under Section 30 (1- C) of the Act.
  • The bank shall accordingly extend its cooperation to the external professional IT firm so appointed by RBI for conducting the special IT audit as above.


Q5. Which bank has decided to restrict its customers from withdrawing money from non-EMV automated teller machines (ATMs) with effect from 01 February 2021?

Correct Answer is Punjab National Bank

  • This restriction will apply to both, financial and non-financial transactions. To overcome this, PNB will introduce OTP-based systems for withdrawing cash.
  • PNB has also decided to replace the old IFSC and MICR codes. This means that the old codes will not work after March 31, 2021.


Q6. Neo banking startup StashFin has partnered with which bank to launch their co-branded contactless prepaid cards? 

Correct Answer is SBM Bank India

  • Designed through collaboration, these prepaid cards will boost access to credit for underbanked consumers.
  • With this launch, the innovation and technology-led business partnership is set to bridge the growing credit gap in India.
  • The Visa powered card comes with a contactless EMV chip, offering the cardholders 24x7 access to funds.


Q7. Which motor maker has partnered with Alphabet Inc’s Google to cooperate in software, artificial intelligence, and cloud computing, developing new consumer services? 

Correct Answer is Ford Motor Co.

  • The partnership will be applicable for 6 years and will incorporate the Android operating system of Google into Ford and Lincoln vehicles in 2023
  • Ford’s customers will get built-in Google apps, including its map and voice technology, Google AI to improve the efficiency of vehicle development.


Q8. The Reserve Bank of India (RBI) unveiled the risk-based internal audit (RBIA) system for select non-banking financial companies (NBFCs) with an asset size of over? 

Correct Answer is Rs 5,000 crore

  • As per the regulator, all the deposit-taking non-banking financial companies (NBFCs) and the ones with an asset size of over Rs 5,000 crore will have to migrate to the new system.
  • Currently, all the entities supervised by the RBI have their own approaches to internal audit, resulting in certain inconsistencies, risks, and gaps in the system.


Q9. The Reserve Bank of India (RBI) unveiled the risk-based internal audit (RBIA) system for urban co-operatives banks (UCBs) with an assets size of over?

Correct Answer is Rs 500 crore

  • As per the regulator, the Urban Co-operatives Banks (UCBs) with assets of over Rs 500 crore will have to migrate to the new system.
  • Currently, all the entities supervised by the RBI have their own approaches on internal audit, resulting in certain inconsistencies, risks and gaps in the system.


Q10. As per the data revealed by the Reserve Bank of India, almost what amount loans of top 100 wilful defaulters have been written off by the banks as of March 2020?

Correct Answer is Rs 62,000 crore

  • Data the Reserve Bank of India shared with Right to Information Act activist Biswanath Goswami showed that Mehul Choksi-owned Gitanjali Gems was the top wilful defaulter, accounting for Rs 5,071 crore of non-performing assets (NPA).
  • Banks wrote off Rs 622 crore of the firm’s loans.


Q11. As per the revised objective and eligibility criteria of innovation sandbox by the Securities and Exchange Board of India, an applicant can move from Stage-I to Stage-II only after a minimum of? 

Correct Answer is 60 Days

  • In order to encourage innovation and boost participation, markets regulator SEBI revised the objective and eligibility criteria of its innovation sandbox with graded entry norms.
  • As the revised guidelines, an applicant if completed a minimum 60 days in the Stage-I of Innovation Sandbox testing will be eligible to enter into stage 2 of the testing.


Q12. Federal Bank Ltd launched ‘FedFirst’, special savings account for?

Correct Answer is Children

  • The account helps children develop healthy saving and spending habits, thereby giving them the freedom to save, spend and earn.
  • The account is designed to enable children to learn the importance of money management.
  • The account comes with unique features and offers. The account holder is provided with a FedFirst contactless Debit Card with a daily cash withdrawal limit of ₹2,500 and POS/e-com limit of ₹10,000, in addition to free online facilities including access to internet banking, mobile alerts and e-mail alerts.


Q13. Which general insurance company has launched ‘Salute to Caregivers – Ek Naya Nazariya Campaign’ to support the cancer survivors in the battle against cancer?

Correct Answer is Bharti AXA General Insurance

To commemorate the World Cancer Day 2021, Bharti AXA General Insurance has collaborated with poetess Priya Malik, who wrote a poem on the Campaign & she also expressed her experience as a caregiver.


Obituaries

1. Nobel laureates Paul J. Crutzen passed away recently, he received the prize in which discipline? 

Correct Answer is Chemistry

  • He won the Nobel Prize in Chemistry in 1995, jointly with Mario J. Molina and F. Sherwood Rowland, for their work in atmospheric chemistry, particularly concerning the formation and decomposition of ozone.
  • He was known for his work on the ozone layer and climate change and for popularizing the term ‘Anthropocene’ to describe a proposed new era when human actions have a drastic effect on the Earth.


Q2. Hilton Valentine, the founding guitarist of the rock and roll band ‘The Animals’ passed away recently, he held from which country? 

Correct Answer is England

  • Valentine took up the guitar at 13 in his hometown of North Shields in northeast England, subsequently getting involved in the skiffle craze — a kind of fusion of American folk, country, jazz and blues — that was sweeping the U.K.
  • His skiffle band The Heppers evolved into The Wildcats, a rock and roll band that became popular across the north of England, partly because of Valentine’s habit of rolling on the ground while playing his guitar.


Q3. Veteran Army officer Captain Tom Moore, who raised a record-breaking fund for Corona warriors passed away recently, he was held from which country?

Correct Answer is England

  • Moore struck a chord with locked-down Britain by walking around his garden with the help of a frame to raise 38.9 million pounds ($53 million) for the National Health Service
  • His endeavour and wit spread joy amid the grim news of the coronavirus outbreak: Moore's message to the world was that the sun would shine again and that the clouds would clear.


Q4. Renowned sportsperson and coach Akhtar Ali passed away recently, he was associated with which sport?

Correct Answer is Tennis

  • Born on July 5, 1939, Akhtar made his mark in 1955 when he became the National junior champion and reached the junior Wimbledon semifinals.
  • He represented India in eight Davis Cup ties against Pakistan, Malaysia, Iran, Mexico, Japan and Monaco between 1958 and 1964. He played alongside stalwarts like Ramanathan Krishnan, Naresh Kumar, Premjit Lall and Jaidip Mukerjea.


Q5. Renowned sportsperson and Olympic gold medallist, Leon Spinks passed away recently, he was associated with which sport? 

Correct Answer is Boxing

  • Leon Spinks, who won Olympic gold and then shocked the boxing world by beating Muhammad Ali to win the heavyweight title in only his eighth pro fight, has passed away recently.
  • He was 67. Spinks beat Ali by decision in a 15-round fight in 1978 to win the title.


Q6. Renowned personality Bansi Kaul passed away recently, he was prominent? 

Correct Answer is Theater Director

  • Bansi Kaul was a Hindi theatre director and the founder of Rang Vidushak, a theatre group and theatre institute in Bhopal.
  • He was awarded Sangeet Natak Akademi Award in 1995 and Padma Shri in 2014.
  • He received Rashtriya Kalidas Samman for the year 2016–17.


Important Days

Q1. World Wetlands Day is observed every year on which date? 

Correct Answer is 2nd February

  • On 2 February 1971, the Convention on Wetlands of International Importance was signed at Ramsar in Iran.
  • The day aims to raise awareness about the crucial role played by wetlands for people and our planet.
  • The international theme for World Wetlands Day 2021 is ‘Wetlands and Water’.
  • 2021 marks 50 years of the Convention on Wetlands.


Q2. International Day of Human Fraternity is observed every year on which date?

Correct Answer is 4th February

  • International Day of Human Fraternity aims to underline the importance of raising awareness about different cultures and religions, or beliefs, and the promotion of tolerance.
  • It also aims to educate people that tolerance, pluralistic tradition, mutual respect, and the diversity of religions and beliefs promote human fraternity
  • This year International Day of Human Fraternity 2021 theme: A Pathway to the Future.


Q3. World Cancer Day is observed every year on? 

Correct Answer is 4th February

  • The day is celebrated to raise awareness and education about cancer, and pressing governments and individuals across the world to take action against the disease.
  • World Cancer Day 2019-21 theme: ‘I Am And I Will’.


Q4. What is the theme of the International Day of Zero Tolerance for Female Genital Mutilation 2021? 

Correct Answer is No Time for Global Inaction, Unite, Fund, and Act to End Female Genital Mutilation

International Day of Zero Tolerance for Female Genital Mutilation is a United Nations-sponsored annual awareness day that takes place on 6th February as part of the UN's efforts to eradicate female genital mutilation.


New Appointments

Q1. Who has been appointed as the new CEO of the country’s flagship public health insurance scheme Ayushman Bharat, also called Pradhan Mantri Jan Arogya Yojana?

Correct Answer is RS Sharma

  • He would replace Indu Bhushan, who is serving as the Chief Executive of the Ayushman scheme since its inception in 2018.
  • RS Sharma, a former chairman of the Telecom Regulatory Authority of India (Trai), who would take charge of the NHA from February 1.


Q2. Who has been appointed as the new President of the Asian Cricket Council (ACC)? 

Correct Answer is Jay Shah

  • Shah replaces Bangladesh Cricket Board (BCB) chief Najmul Hasan Papon.
  • He is the youngest person ever to be appointed to the office.
  • The ACC is Asia's regional administrative body and it currently consists of 24 member associations. ACC is responsible for organizing the Asia Cup tournaments.


Q3. Who has been appointed as the Managing Director(MD) and Chief Executive Officer(CEO) of SBI Cards? 

Correct Answer is Rama Mohan Rao Amara

  • He succeeds Ashwini Kumar Tewari, who was appointed as one of the 4 Managing Directors(MDs) of State Bank of India (SBI).
  • Prior to his appointment, Rama Mohan Rao Amara served as the Chief General Manager, SBI Bhopal Circle, where he managed two key states, Madhya Pradesh and Chhattisgarh.


Q4. Who assumed charge as the Vice Chief of the Army Staff after Lt. Gen. S.K. Saini who stepped down on January 31 upon superannuation? 

Correct Answer is C.P. Mohanty

  • Lt. Gen. Mohanty was earlier serving as the Southern Army Commander. He was commissioned into the Rajput Regiment on June 12, 1982.
  • He has commanded a battalion on the Line of Control in Jammu and Kashmir and in the northeastern region. He has the unique distinction of commanding two brigades, first on the Line of Actual Control and later the multinational UN Brigade in the Democratic Republic of Congo. Lt. Gen.


Q5. Who has been appointed as the first-ever Chief Compliance Officer of social media platform Facebook Inc? 

Correct Answer is Henry Moniz

He will join Facebook on February 8 to lead the company’s global compliance team, to enhance its global compliance and risk management and promote the highest standards of legal and ethical conduct at the company.


Q6. Name the Indian American who has been appointed as the Acting Chief of Staff of the US space agency, NASA? 

Correct Answer is Bhavya Lal

  • Lal is an active member of the space technology and policy community, having chaired, co-chaired, or served on five high-impact National Academy of Science committees.
  • She served two consecutive terms on the National Oceanic and Atmospheric Administration Federal Advisory Committee on Commercial Remote Sensing and was an External Council member of NASA’s Innovative Advanced Concepts Program and the Technology, Innovation and Engineering Advisory Committee of the NASA Advisory Council.


Q7. Who has been appointed as the acting chief of the Central Bureau of Investigation (CBI) to succeed Rishi Kumar Shukla who retired after a two-year fixed stint?

Correct Answer is Praveen Sinha

  • This is the fourth time since 2014 that an acting director has been given charge to look after duties of the CBI chief.
  • Earlier, Rakesh Asthana, then additional director, held the fort before Alok Verma was appointed as Director.


Q8. Who will take over as the new Chief Executive Officer (CEO) of Amazon after Jeff Bezos decided to quit the post by October 2021? 

Correct Answer is Andrew R. Jassy

  • Jeff Bezos will be taking up the role of executive chair of the Amazon’s Board of Directors.
  • He also stated that he would be focusing on the new products, early initiatives and Philanthropic giving through like Day 1 Fund and the Bezos Earth Fund; Blue Origin, his secretive space venture.


Q9. Who has been appointed as the chairman of the National Safety Council for a period of three years? 

Correct Answer is SN Subrahmanyan

  • Subrahmanyan will guide the National Safety Council which has a major role to play to ensure safety in workplaces under new Occupational Safety, Health and Working Conditions Code, 2020 (OSH Code, 2020).
  • The National Safety Council will be assisting Directorate General Factory Advice Service and Labour Institutes in rewriting the regulations governing OSH in the country which have not been updated for over 50 years.


Important News – India

Q1. Who inaugurated the 8th India International Silk Fair, India’s biggest silk fair on Virtual Portal? 

Correct Answer is Smriti Irani

  • The five days event is being held virtually due to the COVID-19 pandemic.
  • India has a long history of silk production and is the 2nd largest producer of Silk. India is the only country in the world that produces all the four major varieties of silk - Mulberry, Eri, Tassar, and Muga.


Q2. The first indigenous metro racks manufactured by Bharat Earth Movers Limited (BEML) were unveiled for which metro corporation? 

Correct Answer is Mumbai Metro

  • Metro line 2A will run from Dahisar to D N Nagar & it is an 18.58-km-long elevated corridor built at an estimated cost of Rs 6,410 crore, the metro line 7 from Andheri (East) to Dahisar (East) is an 16.47-km-long built at an estimated cost of Rs 6,208 crore.
  • The rake was manufactured by Bharat Earth Movers Limited (BEML) and delivered the first ‘Made in India’ rake from the Bengaluru facility of BEML.


Q3. India’s first wetland conservation center ‘Centre for Wetland Conservation and Management (CWCM)’ has been being set up in which city of India? 

Correct Answer is Chennai

  • Coinciding with the World Wetland Day, India got its first specialised institution - Centre for Wetland Conservation and Management (CWCM) - in Chennai which will work as a knowledge hub for various stakeholders for conserving wetlands that occupy 4.6% of the country's total land area.
  • The CWCM has been set up as a part of the National Centre for Sustainable Coastal Management (NCSCM), Chennai.


Q4. The government of India has launched a unified web portal for the GOBAR-DHAN scheme, what does ‘R’ stands for in the GOBAR-DHAN? 

Correct Answer is Resources

  • Gobardhan is an important component of Swachh Bharat Mission Phase-2 for organic solid waste management.
  • This scheme was launched by the Ministry of Drinking Water & Sanitation.
  • GOBAR-DHAN scheme stands for Galvanizing Organic Bio-Agro Resources – DHAN scheme.


Q5. India hosted the Indian Ocean Region (IOR) Defence Ministers’ Conclave on the sidelines of the margins of Aero India 2021. What was the theme of the conclave? 

Correct Answer is Enhanced Peace, Security and Cooperation in the Indian Ocean

  • The broad theme of the conclave will be ‘Enhanced Peace, Security and Cooperation in the Indian Ocean’.
  • The conclave is an initiative to promote dialogue in an institutional, economic and cooperative environment that can foster the development of peace, stability and prosperity in the Indian Ocean region.


Q6. What is India’s global ranking in the 2020 Democracy Index Report titled "Democracy in sickness and in health?" released by the Economist Intelligence Unit (EIU)?

Correct Answer is 53rd

  • India's overall score fell from 6.9 in 2019 to 6.61 in the Index that provides a snapshot of the current state of democracy worldwide for 167 countries.
  • Norway topped The Economist Intelligence Unit's latest Democracy Index report titled "Democracy in sickness and in health?", with Iceland, Sweden, New Zealand and Canada making up the top five.


Q7. Which IIT has signed a Memorandum of Understanding (MoU) with the Ministry of Road Transport and Highways (MoRTH) to up-grade road construction in India, through scientific research? 

Correct Answer is IIT-BHU

  • In November 2020, Ministry of Education requested all technical institutions in the country (including IITs & NITs) to provide technical supports to upgrade stretches of National Highways on voluntary basis.
  • 18 IITs, 26 NITs & 190 other institutes have opted for the scheme.


Q8. Which ministry in collaboration with ASEAN launched the ASEAN-India Hackathon 2021? 

Correct Answer is Ministry of Education

  • It will provide a unique opportunity to India and ASEAN to solve their common identified challenges under broad themes of Blue Economy and Education
  • ASEAN-INDIA Hackathon is an initiative of Ministry of Education
  • It was organized online from 1 to 3rd Feb 2021


Q9. The Union Ministry of Education decided to rename 1,063 residential schools and hostels after ______ 

Correct Answer is Subhash Chandra Bose

  • A total of 1,063 residential facilities (383 residential schools and 680 hostels) have been sanctioned to States and UTs so far.
  • It has been decided to rename the residential schools and hostels funded under the Samagra Shiksha Scheme as "Netaji Subhas Chandra Bose residential schools.

Q10. Srivilliputhur–Megamalai will become the 5th Tiger Reserve in which state, that has been approved by the National Tiger Conservation Authority (NTCA)? 

Correct Answer is Tamil Nadu

The Forest Department’s proposal was to declare 1.48 lakh hectares of land encompassing Meghamalai Wildlife Sanctuary, Srivilliputhur Grizzled Squirrel Wildlife Sanctuary and Tirunelveli Wildlife Sanctuary as Tamil Nadu’s fifth tiger reserve.


Q11. As per the information reported to and tracked by the Indian Computer Emergency Response Team (CERT-In), a total of what number of cybersecurity incidents pertaining to digital banking were reported during 2020? 

Correct Answer is 2.9 lakh

  • These incidents included phishing attacks, network scanning and probing, viruses and website hacking.
  • The Minister noted that the rising popularity of non-banking financial companies (NBFCs) along with e-commerce has also expanded the scope of digital payments.


Q12. Which institutions have been organized at the campus of which institution?

Correct Answer is Indian Institute of Horticultural Research (IIHR)

  • The theme of the National Horticulture Fair 2021 will be: ‘Horticulture for Start-Up and Stand-Up India’.
  • The theme seeks to encourage the farmers to become entrepreneurs.
  • The fair will be organised by the Indian Council for Agricultural Research (ICAR) and Indian Institute of Horticultural Research (IIHR).
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