UPSC  >  Current Affairs & Hindu Analysis: Daily, Weekly & Monthly  >  Weekly Current Affairs (22nd to 31st December 2021) Part - 1

Weekly Current Affairs (22nd to 31st December 2021) Part - 1 Notes | Study Current Affairs & Hindu Analysis: Daily, Weekly & Monthly - UPSC

Document Description: Weekly Current Affairs (22nd to 31st 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 (22nd to 31st December 2021) Part - 1 have been prepared according to the UPSC exam syllabus. Information about Weekly Current Affairs (22nd to 31st December 2021) Part - 1 covers topics like Banking & Financial Awareness, Obituaries, Important Days, New Appointments and Weekly Current Affairs (22nd to 31st December 2021) Part - 1 Example, for UPSC 2022 Exam. Find important definitions, questions, notes, meanings, examples, exercises and tests below for Weekly Current Affairs (22nd to 31st 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 institution has entered into an agreement with United Nations World Food Program (WFP) to address issues related to inclusion of millets in government programmes?

Correct Answer is  NITI Aayog.

  • The partnership focuses on mainstreaming of millets and supporting India in taking lead globally in knowledge exchange using the opportunity of 2023 as an International Year of Millets.
  • Further, the partnership will aim at building resilient livelihoods for small-holder farmers and adaptation capacities to climate change and transforming food systems.


Q.2. What amount has been announced by the World Bank to help the poorest countries respond to the raging Coronavirus (Covid-19) crisis and boost economic growth?

Correct Answer is  $93 billion.

  • It was the biggest replenishment ever for the International Development Association (IDA), which provides grants for 74 countries
  • The package includes $23.5 billion of contributions from 48 high and middle-income countries as well as financing raised in the capital markets
  • It will help countries better prepare for future crises.


Q.3. Hero Electric has tied up with which non-banking financial company (NBFC), to offer easy financing options for the purchase of electric scooters?

Correct Answer is  HDB Financial Services.

  • The collaboration will enable customers to avail hassle-free loans with minimum documentation on their desired electric scooter.
  • The financing option will be available to Hero Electric customers across its widespread network of over 700 dealerships in the country.


Q.4. National Payments Corporation of India (NPCI) signed a partnership agreement which online course provider to encourage innovative learning and skill development for employees of NPCI?

Correct Answer is  Udemy Business.

  • The 3-year partnership with Udemy Business will offer courses on in-demand skills such as tech, domain, behavioural, and leadership skills to all NPCI employees.
  • Through the mission ‘Talent Development for All’ of NPCI, it provides capacity building programmes in Artificial Intelligence (AI), Machine Learning (ML), Blockchain, Distributed Ledger Technology (DLT), Robotic Process Automation (RPA), etc.


Q.5. Which bank has signed a Memorandum of Understanding (MoU) with Care Health Insurance Ltd to market health insurance products for customers of the bank?

Correct Answer is  Karnataka Vikas Grameena Bank.

  • Under the partnership, the bank focuses on its rural customers by covering maximum people, including farmers, artisans and rural population under health insurance.
  • The bank was also working on a tailor-made product to suit farmers and Kisan Credit Cardholders to face challenges arising out of illness and hospitalisation, through products at an affordable premium.


Q.6. Which general insurance company has collaborated with Clove Dental to offer dental insurance?

Correct Answer is  ICICI Lombard General Insurance.

  • The offering will be covered under the OPD (Out Patient Department) benefit and will be available on a cashless basis to customers 
  • This partnership will provide oral health support to Clove Dental’s consumers that will encompass all necessary dental treatment expenses under the OPD benefit of ICICI Lombard.


Q.7. Which bank has grabbed the top spot in overall digital transactions among large banks for FY20-21?

Correct Answer is  Bank of Baroda.

  • It was felicitated by the Ministry of Electronics & Information Technology (MeitY) at the Digital Payments Utsav which was held to commemorate the 75th anniversary of the Independence of India.
  • BoB has been conferred with five DigiDhan awards for FY 2019-20 & 2020-21 in various categories.


Q.8. Which bank has acquired a minority stake in JSW Cement Limited for an investment of INR 100 crore through Compulsory Convertible Preference Shares (CCPS)?

Correct Answer is  State Bank of India.

  • The SBI is working as a strategic investor at JSW Cement and has invested in the company through CCPS. The conversion of CCPS into common equity will link with the JSW Group to provide valuation determined at the time initi qal public offering (IPO).
  • This amount will support the expansion of JSW Cement from taking its production from the current 14 MTPA (million tonnes per annum) to 25 MTPA.


Q.9. With which public sector bank has the MSME lending fintech platform, U GRO Capital signed a co-lending agreement?

Correct Answer is  Central Bank of India.

  • Under this partnership, the two entities aim to disburse up to Rs 1000 crore to U GRO Capital's varied MSME segments under its programmes like Pratham, Sanjeevani, Saathi, GRO MSME and Machinery financing, in the next 12 months.
  • The co-lending arrangement with Central Bank of India will work towards providing formal credit to underserved MSMEs at affordable rates across all product categories of U GRO Capital.


Q.10. Which payment bank has partnered with MoneyGram, a peer-to-peer remittance company to enable Money Gram customers globally to send money in real-time?

Correct Answer is  Paytm Payment Bank.

  • Paytm Payments Bank, an associate entity of Paytm, and Nasdaq-listed MoneyGram, a global leader in digital P2P payments, have entered into a partnership to enable MoneyGram customers globally to send money in real-time to a Paytm Wallet user in India.
  • With this partnership, MoneyGram users abroad can now conveniently transfer money to full KYC Paytm wallet users in India from the comfort of their homes.


Q.11. Government of India has signed an agreement with which bank for a Finance Contract for the first tranche loan of Euro 250 million for Agra Metro Rail Project?

Correct Answer is  European Investment Bank.

  • The Project is working under the Ministry of Housing and Urban Affairs (MoHUA) and Uttar Pradesh Metro Rail Corporation Ltd. (UPMRCL) is the implementing agency.
  • The project aims to provide a safe, reliable, affordable and environment-friendly public Mass Rapid Transit System for Agra city which will improve mobility and support endeavour for planned urban development in Agra.


Q.12. State-owned Rural Electrification Corporation (REC) Ltd has signed a pact with which bank to avail USD 169.5 million to the power finance sector and renewable energy projects?

Correct Answer is  KfW Development Bank.

  • Both organisations will jointly undertake various projects in Power sector & Renewable Energy (RE) projects.
  • The approval was passed by the Department of Economic Affairs, Ministry of Finance.
  • This is the fifth line of credit signed between KfW Bank and REC Limited to finance power sector projects and the third line of credit for financing renewable energy (RE) projects.


Q.13. What is the tagline of the Akasa Air, which is set for launch next year?

Correct Answer is  it’s your sky.

  • The proposed ultra low cost carrier has shunned the traditional blue and red colour -- long favoured by Indian carriers -- and opted for 'sunrise orange' and 'passionate purple' colours, which it says, reflect warmth and youthful energy.
  • The airline’s symbol is a rising A, symbolising “the warmth of the rising sun, the effortless flight of a bird and the dependability of an aircraft wing.”


Q.14. Vayana Network, one of India’s largest trade finance platforms, and which bank have been awarded the ‘Most Effective Bank-Fintech Partnership: Agile and Adaptable’ at the IBSi-Global Fintech Innovation Awards 2021?

Correct Answer is  Federal Bank.

  • The award was conferred in recognition of Vayana Network’s partnership with Federal Bank making Supply Chain Finance at ease.
  • The 2021 Innovation award includes the participation of 190 participants from 48 countries.


Q.15. Which credit card issuer and Indian Navy have launched a co-branded credit card for Indian Navy personnel?

Correct Answer is  BOB Financial Solutions Limited.

  • The card, offered on the RuPay platform, has contactless features.
  • Indian Navy personnel can choose from 3 variants of the co-branded credit card.
  • The credit cards will offer uninterrupted payment convenience to the personnel of the Indian Navy.


Q.16. Which becomes the first bank to partnered with the NPCI to offer real-time cross-border remittances to India using UPI IDs, for its Money Transfer Operator (MTO) partners?

Correct Answer is  IndusInd Bank.

  • It is the first Indian bank to go live on UPI for cross-border payments/NRI remittances.
  • Under this arrangement, the MTOs will be using the IndusInd Bank channel to connect with NPCI’s UPI payment systems for validation and cross-border payment settlement into beneficiary accounts.


Q.17. Which bank has entered into a co-lending arrangement with Lending kart Finance Limited to improve the flow of credit to the unserved and underserved sector of the economy?

Correct Answer is  Punjab National Bank.

  • This partnership is part of its efforts to improve the flow of credit to the unserved and underserved sector of the economy.
  • This arrangement will focus on digital underwriting and cashflow based lending.


Q.18. MUFG Bank Ltd belongs to which country on which the Reserve Bank of India (RBI) has imposed a monetary penalty of ₹30 Lakh for non-compliance with its directions on ‘Loans and Advances – Statutory and Other Restrictions’?

Correct Answer is  Japan.

  • MUFG Bank has the largest network amongst Japanese banks in India, with a presence in five locations.
  • MUFG Bank caters to the banking needs of Japanese and global corporates that are establishing or growing their businesses in India.


Q.19. Which bank has been conferred with 'Most Innovative Best Practice' for financial inclusion at the coveted CII Digital Transformation Award 2021?

Correct Answer is  HDFC Bank.

  • It has been conferred due to HDFC Bank's efforts in furthering financial inclusion through partnership with Government of India's Common Service Centres (CSC)
  • CII instituted digital transformation award to recognize excellence in Digital Transformation in India.


Q.20. IPPB has signed an MoU with which bank for offering banks’s various banking products and services to customers of the payments bank in semi-urban and rural areas, focussing on unbanked and underserved segments?

Correct Answer is  HDFC Bank.

  • Over 4.7 crore customers of IPPB of whom nearly 90 per cent are residing in rural areas are expected to benefit from this partnership.
  • The strategic alliance will enable IPPB to provide affordable and diversified offerings, including access to finance, to its customers through its innovative Doorstep Banking Service.


Q.21. HDFC Life Insurance Company announced a bancassurance tie-up with which bank?

Correct Answer is  South Indian Bank.

  • This bancassurance arrangement will enable customers of SIB to avail HDFC Life’s life insurance products, including solutions for protection, savings and investment, retirement and critical illness.
  • HDFC Life aims to provide SIB’s customer base with innovative products and superior levels of service via both the physical and digital routes.


Q.22. Indipaisa, a member of the Nexxo Network signed a partnership agreement with NSDL Payments Bank to launch Financial Technology (Fintech) solutions targeting India’s 63 million Small & Mid-sized Enterprise (SME) sector?

Correct Answer is  NSDL Payments Bank.

  • Indipaisa, in partnership with NSDL Payments Bank, plans to introduce multiple financial products and services customized from the ground up to match the specific needs of Indian SME owners and operators.
  • Furthermore, Indiapaisa is proud to be part of the Government of India and the Reserve Bank of India’s drive to digitize payments, estimated to exceed USD 1.0 Trillion annually by the year 2025.


Q.23. As per the Centre for Economics and Business Research’s (CEBR) World Economic League Table 2022, by which year India will become the world's third-largest economy?

Correct Answer is  2031.

  • The annual league table also predicted that China will overtake the US to be the largest economy in 2030 (two years later than the forecast in 2021).
  • The world economy is set to surpass $100 trillion for the first time in 2022.


Q.24. Which bank has announced the launch of ‘Green Fixed Deposits’ where the deposit proceeds will be used to finance projects and firms supporting the United Nations Sustainable Development Goals (SDGs)?

Correct Answer is  IndusInd Bank.

  • IndusInd Bank is amongst few banks globally, to bring forth this proposition, thereby integrating SDG into a regular fixed deposit product.
  • IndusInd Bank ‘Green Fixed Deposits' shall be offered to both retail and corporate customers.


Q.25. Which public sector lender has entered into a strategic co-lending partnership with MAS Financial Services to offer loans to micro, small and medium enterprise (MSME) borrowers?

Correct Answer is  Bank of Maharshtra.

  • This co-lending arrangement will result in greater expansion of portfolio for both the entities.
  • Under this arrangement, MAS Financial Services (a RBI registered non-banking financial company) will originate and process loans to MSME borrowers under priority sector as per jointly formulated credit parameters and eligibility criteria and BoM will take on its book these loans under mutually agreed terms.


Q.26. Which state govt has partnered with the NPCI and SBI for enabling and implementing e-RUPI, a cashless and contactless payment solution for students under the State’s scholarship programme?

Correct Answer is  Karnataka.

  • e-RUPI will be used to ensure a leak-proof delivery of education fees of eligible students by paying digitally to the college/institute by Karnataka Government.
  • Karnataka government will get e-vouchers delivered to the mobiles of eligible students. The voucher code can be received on the feature phone also.


Q.27. RBL Bank announced the signing of an agreement with which Non-Banking Financial Companies (NBFCs) to for the extension of the partnership of co-branded credit cards for 5 years to December 2026?

Correct Answer is  Bajaj Finance Ltd.

  • In FY2018, the Bank had entered into a partnership with Bajaj Finance, launching a series of co-branded credit cards.
  • As per the Bank’s FY2019 annual report, FY2019 also saw the RBL Bank - Bajaj Finance co-brand portfolio cross the 10 lakh cards mark, making it one of the largest co-branded card partnerships in the country.


Q.28. Bank of Maharashtra (BoM) has entered into a strategic co-lending partnership with which Non Banking Financial Company to offer loans to micro, small and medium enterprise (MSME) borrowers?

Correct Answer is  MAS Financial Services Ltd.

  • The partnership is subject to compliance laws including applicable guidelines issued by the Reserve Bank of India (RBI).
  • This partnership will support the expansion of the portfolios of both BoM and MAS Financial Services Limited.


Q.29. Which public sector bank has announced its partnership with the National Payments Corporation of India (NPCI) to launch ‘RuPay Business Platinum Debit Card’ for firms/corporates?

Correct Answer is  Union Bank of India.

  • This card offers an ATM withdrawal limit of ₹1 lakh along with a purchase of up to ₹3 lakh at POS or ECommerce, to its users.
  • Further, card users can withdraw up to ₹75,000 at ATMs abroad and perform purchases globally worth up to ₹3 lakh at POS and international online merchants.

Obituaries

Q.1. Renowned personality Richard Rogers passed away recently, he was a veteran?

Correct Answer is  Architect.

  • He was known for designing some of the world's most famous buildings including Paris' Pompidou Centre in 1977.
  • He changed London skyline with distinctive creations such as Millennium Dome and 'Cheesegrater', that won a series of awards for his designs, including the 2007 Pritzker Prize, and is one of the pioneers of the 'high-tech' architecture movement.


Q.2. Nobel Peace Prize Winner Renowned personality Desmond Tutu passed away recently he was a veteran?

Correct Answer is  Human Right Activist.

  • Tutu was diagnosed with prostate cancer in the late 1990s and in recent years he was hospitalized on several occasions to treat infections associated with his cancer treatment.
  • In 1984 Tutu won the Nobel Peace Prize for his non-violent opposition to apartheid.


Q.3. Renowned personality Karolos Papoulias was former president of which country who passed away recently?

Correct Answer is  Greece.

  • Papoulias, who was also foreign minister in 1985-89 and 1993-96, was a high-ranking member of socialist PASOK party and a close associate of its late leader and former prime minister Andreas Papandreou.
  • He served as President during the crisis that plunged the country into the most grave political and economic turmoil of recent decades.


Q.4. Renowned personality T. Mark Taylor passed away recently he was a veteran?

Correct Answer is  artist.

  • He-man was the muscled frontman for toy manufacturer Mattel’s Masters of the Universe franchise
  • He-Man was the epitome of hulking superhero warrior but also became an icon within the LGBTQ+ community, who saw parallels in the secret life of Prince Adam, He-Man’s alter ego.


Q.5. Renowned parliamentarian and industrialist Mahendra Prasad passed away recently he was seven time Rajya Sabha MP from which political party?

Correct Answer is  Janata Dal (United).

  • Prasad was a seven-term Rajya Sabha MP from Bihar and was also elected to the Lok Sabha once.
  • Prasad was first elected to the Lok Sabha on a Congress ticket in 1980.
  • He remained associated with the party for a long time and shifted his loyalties later as its fortunes declined in the state.


Q.6. Renowned personality Edward O Wilson passed away recently, he was a noted?

Correct Answer is  biologist.

  • He was "called ‘Darwin’s natural heir,’ and was known affectionately as ‘the ant man’ for his pioneering work as an entomologist.
  • He was a true visionary with a unique ability to inspire and galvanize.
  • He articulated, perhaps better than anyone, what it means to be human.


Q.7. Renowned personality Keri Hulme passed away recently, she was a note?

Correct Answer is  novelist.

  • Hulme worked as a tobacco picker, dropped out of law school and was a charity worker before becoming an  unusual literary star when The Bone People, her first novel, won one of fiction's greatest prizes.
  • The novel was rejected by several publishers before being picked up by the obscure publisher Spiral, a New Zealand feminist collective.


Q.8. Renowned personality Sabine Weis passed away recently, she was a veteran?

Correct Answer is  photographer.

  • Weiss was the last of the French humanist photography school of post-World War II that reimagined the evocative powers of images, which included Robert Doisneau, Willy Ronis and Brassai.

Important Days

Q.1. In India, National Mathematics Day every year on which date?

Correct Answer is  22nd December.

  • The day is celebrated to commemorate the birth anniversary of Mathematician Srinivasa Ramanujan.
  • This year nation celebrates his 134th birth anniversary of Ramanujan. 


Q.2. Kisan Diwas or National Farmers’ Day is celebrated across the nation on which date to commemorate the birth anniversary of the fifth Prime Minister of India, Chaudhary Charan Singh?

Correct Answer is  23rd December.

  • Chaudhary Charan Singh brought farmer-friendly policies and worked towards the welfare of the farmers.
  • He was the fifth Prime Minister of India and served the country as Prime Minister from 28 July 1979 to 14 January 1980.


Q.3. What is the theme of the National Consumer Rights Day 2021?

Correct Answer is  Tackling Plastic Pollution.

  • The Day is celebrated to commemorate December 24, 1986, when the Consumer Protection Act received assent of the President of India.
  • The purpose of the day is to make consumers aware of their rights and responsibilities.
  • This year’s theme of National Consumer Day is “Tackling Plastic Pollution”.


Q.4. In India, Good Governance Day (Sushasan Divas) is observed annually on?

Correct Answer is  25th December.

  • On this day nation celebrates the birth anniversary of Bharat Ratna and former-Prime Minister Atal Bihari Vajpayee.
  • In keeping with this principle, Good Governance Day has been declared to be a working day for the government.


Q.5. International day for Epidemic Preparedness is observe every year on which date?

Correct Answer is  27th December.

  • Battered by the Covid-19 pandemic, humans have learned about epidemic preparedness the hard way.
  • In a bid to prepare for future outbreaks and sensitise people about epidemics on all levels.

New Appointments

Q.1. Who has been appointed as the as Director General of BrahMos Aerospace?

Correct Answer is  Atul Dinkar Rane.

  • He joined DRDO in 1987 and started his initial career at Defence Research and Development Laboratory as System Manager and established modular real-time simulation test mechanisms for Surface to Air Akash Missile System
  • BrahMos Aerospace: Indo-Russian multinational aerospace and defense corporation, with Headquarters in Delhi.


Q.2. Who has been appointed as a member of the Badminton World Federation's (BWF) Athletes' Commission?

Correct Answer is  PV Sindhu.

  • She is among the 6 appointed members of the Commission.
  • PV Sindhu was first elected as a member of the BWF’s Athletes’ Commission in 2017.
  • She is the only member who stood for re-election.
  • PV Sindhu was the 2nd Indian to become a member of the BWF’s Athletes Commission.


Q.3. Who has been appointed as new Managing Director (MD) and Chief Executive Officer (CEO) of the IFFCO-TOKIO General Insurance?

Correct Answer is  H O Suri.

  • Prior to this, Suri was director of marketing and Chief Investment Officer.
  • He started his professional journey in the year 1982 with Indian Farmers Fertiliser Cooperative Limited (IFFCO), the world's largest fertiliser manufacturer in the Cooperative Sector, and has a professional qualification of chartered accountant.


Q.4. Justice Sanjaya Kumar Mishra has been appointed as the Acting Chief Justice of which High Court?

Correct Answer is  Uttarakhand.

  • He has been appointed as per Article 223 of the Constitution of India
  • He was elevated as Judge of the Orissa High Court in 2009 and joined Uttarakhand High Court in October 2021.


Q.5. Who has been appointed as an additional director on the board of RBL Bank by the Reserve bank of India?

Correct Answer is  Yogesh Dayal.

  • The private sector lender’s Managing Director and CEO Vishwavir Ahuja has proceeded on leave with immediate effect.
  • The central bank invoked Section 36 AB (power of RBI to appoint additional directors) contained in Part 2A (Control over Management) of the Banking Regulation Act, 1949.


Q.6. Who has been appointed as the Managing Director (MD) and Chief Executive Officer (CEO) of Punjab National Bank (PNB)?

Correct Answer is  Atul Kumar Goel.

  • Goel will serve as PNB chief until December 31, 2024, which is his attaining the superannuation age.
  • He will serve as Officer on Special Duty (OSD) in PNB, which is the country’s second-largest public sector bank, until January 31, 2022.
  • Goel will replace Mallikarjuna Rao, incumbent MD & CEO of PNB, who is due to demit office at the end of January 2022.


Q.7. Who has been appointed as Managing Director (MD) and Chief Executive Officer (CEO) of UCO Bank?

Correct Answer is  Soma Sankara Prasad.

  • Currently, he is the Deputy Managing Director at State Bank of India.
  • He will serve as MD & CEO of UCO Bank till the date of attaining the age of superannuation on May 31, 2023.
  • He will replace Atul Kumar Goel, who has been appointed as MD & CEO of UCO Bank, as MD & CEO of Punjab National Bank (PNB).


Q.8. Who has been appointed as interim Managing Director and Chief Executive Officer of RBL Bank?

Correct Answer is  Rajeev Ahuja.

  • The RBL Bank board has appointed Rajeev Ahuja, who’s currently working as the Executive Director at the bank, as interim Managing Director & Chief Executive Officer of the bank with immediate effect, subject to the regulatory and other approvals.
  • The board of directors at its meeting has accepted the request of Vishwavir Ahuja, Managing Director and CEO of the bank, to proceed on leave with immediate effect.


Q.9. Who has been appointed as the Deputy National Security Advisor in the National Security Council Secretariat of India?

Correct Answer is  Vikram Misri.

  • A career diplomat from the 1989 batch of the Indian Foreign Service, Mr Misri was appointed as India's Ambassador to Beijing in 2019.
  • The Ministry of External Affairs had earlier this month appointed Pradeep Kumar Rawat as the next ambassador to China.


Q.10. Who has been appointed as India's next permanent representative to the UN Conference on Disarmament in Geneva?

Correct Answer is  Anupam Ray.

  • Mr. Ray, a 1994-batch Indian Foreign Service officer, is currently serving as a joint secretary in the MEA's headquarters in Delhi.
  • Mr. Sharma, a 1991-batch Indian Foreign Service officer, has been appointed as India's next ambassador to Mexico.


Q.11. Vasudevan Pathangi Narasimhan (PN) has been reappointed as the MD & CEO of which bank?

Correct Answer is  Equitas Small Finance Bank.

  • Vasudevan was appointed as the MD of erstwhile Equitas Finance Limited, now a bank, with effect from July 23, 2016.
  • He is a qualified Company Secretary from the Institute of Company Secretaries of India. He has extensive experience in the financial services sector.


Q.12. Who has been appointed as the Managing Director & Chief Executive Officer (MD & CEO) of Jammu & Kashmir Bank for three years?

Correct Answer is  Baldev Prakash.

  • His appointment will be effective from the date of taking charge or April 10, 2022, whichever is earlier.
  • Apart from him, R K Chhibber has been appointed as an additional director on the board of the bank.
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