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Weekly Current Affairs (22nd to 31st May 2021) Part - 1 Notes | Study Weekly Current Affairs - UPSC

Document Description: Weekly Current Affairs (22nd to 31st May 2021) Part - 1 for UPSC 2022 is part of Weekly Current Affairs preparation. The notes and questions for Weekly Current Affairs (22nd to 31st May 2021) Part - 1 have been prepared according to the UPSC exam syllabus. Information about Weekly Current Affairs (22nd to 31st May 2021) Part - 1 covers topics like Banking & Financial Awareness, Obituaries, Important Days, New Appointments and Weekly Current Affairs (22nd to 31st May 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 May 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

Q1. The Mahindra Rural Housing Finance (MRHFL) has partnered with which bank for a cash management solution?

Correct Answer is India Post Payments Bank (IPPB).

  • Under the partnership, IPPB will be offering cash management and collection services to MRHFL through its access points and postal service providers.
  • IPPB’s large national network has facilitated the deployment of cash management solutions to meet the requirements of MRHFL.
  • Using the cash management service, MRHFL customers could able to repay their monthly or quarterly loan instalments at over 1.36 lakh post offices.


Q2. Which bank has issued the first-ever foreign portfolio investor (FPI) licence to the GIFT IFSC alternative investment fund (AIF) of True Beacon Global?

Correct Answer is Kotak Mahindra Bank.

  • This is the first FPI licence issued to an AIF incorporated in GIFT IFSC by any custodian bank or designated depository participant (DDP) in the country.
  • AIF is an important business vertical at GIFT IFSC and offers huge benefits and a competitive edge for setting up a fund in IFSC at GIFT City.


Q3. PayCore is global payment solutions company of which country that has been onboarded by NPCI as one of the certified partners for ‘RuPay SoftPOS’ to drive cashless payments across the country?

Correct Answer is Turkey.

  • Along with PayCore, NPCI aims to reduce the investment cost required by banks to reach over the MSMEs (Micro, Small and Medium Enterprises) and intends to increase the spread of ‘RuPay SoftPOS’ across India with its network of banks.
  • NPCI partnered with SBI Payments and launched ‘RuPay SoftPoS’ to transform NFC enabled smartphones into Point of Sale (POS) terminals for merchants and retailers.


Q4. Which fintech startup has partnered with financial services company Vivriti Capital to provide working capital financing to MSMEs?

Correct Answer is FlexiLoans.com.

  • The partnership will be powered by FlexiLoans.com’s technology and credit underwriting platform ‘BiFrost’, which has been integrated with Vivriti’s Co-lending platform ‘CredAvenue’.
  • The aim of this initiative is to reach out to more than 10,000 MSMEs in the next 12-18 months.


Q5. According to ministry of Commerce and Industry the Foreign Direct Investments (FDI) in the country grew by what per cent during 2020-21?

Correct Answer is 19 per cent.

  • Total FDI, including equity, re-invested earnings and capital, rose 10 per cent to the "highest ever" of USD 81.72 billion during 2020-21 as against USD 74.39 billion in 2019-20.
  • In terms of top investor countries, Singapore is at the top with 29 per cent share. It was followed by the US (23 per cent) and Mauritius (9 per cent) during the last fiscal.


Q6. According to ministry of Commerce and Industry which country is the top investor with 29 per cent share?

Correct Answer is Singapore.

  • Foreign direct investments (FDI) into the country grew 19 per cent to USD 59.64 billion during 2020-21 on account of measures taken by the government on the fronts of policy reforms, investment facilitation and ease of doing business, the commerce and industry ministry.


Q7. According to 3rd Advance Estimates of production of major agricultural crops for 2020-21 the total foodgrain production in India is estimated to rise by?

Correct Answer is 2.66%.

  • It is an increase of 7.94 MT than the production of foodgrain of 297.50 MT achieved during 2019-20.
  • The 305.44 MT estimate is higher by 26.66 MT compared to average production of foodgrains of the previous five years (2015-16 to 2019-20).
  • The assessment is based on data received from States.


Q8. Which bank has digitized onboarding of credit card customers by implementing TransUnion’s Onboarding Solution?

Correct Answer is Yes Bank.

  • This solution will enable YES BANK to onboard its credit card customers seamlessly, efficiently, and quickly.
  • TransUnion’s seamless onboarding delivers a full range of identity, fraud, decisioning and credit solutions through a single platform and API calls to make integration easy and convenient for the lender.


Q9. In collaboration with the NPCI which bank has launched a facility for linking an UPI ID with its digital wallet, ‘Pockets’ and become the first to link e-wallet with UPI Network?

Correct Answer is ICICI Bank.

  • By linking Pockets with UPI, ICICI enables its customers to undertake UPI transactions from their wallet balance instead of their savings account, as the users can directly use the balance in the wallet for smaller transactions.
  • The current initiative marks a departure from the current practice which demands UPI IDs to be linked with a savings bank account.


Q10. The size of the Reserve Bank's balance sheet, which is reflective of activities carried out by it in pursuance of currency issue function as well as monetary policy and reserve management, has increased by what per cent during the nine-month period ended March 31, 2021?

Correct Answer is 6.99 per cent.

  • While income for the year decreased by 10.96 per cent, the expenditure decreased by 63.10 per cent, as per the RBI's Annual Report for 2020-21.
  • The year ended with an overall surplus of Rs 99,122 crore as against Rs 57,127.53 crore in the previous year, representing an increase of 73.51 per cent, it added.


Q11. Which has become the first Small Finance Bank to offer its NRI customer segment the ease of account opening online?

Correct Answer is Equitas Small Finance Bank.

  • The company will also be the only one in the Small Finance Bank sector to have Virtual Relationship Managers based on time zones.
  • The online process of account opening for NRIs can be done via smartphone or computer connected to the Internet.


Q12. The Reserve Bank of India has imposed a fine of Rs 10 crore on which bank for deficiencies in regulatory compliance found in the auto loan portfolio of the bank?

Correct Answer is HDFC Bank.

  • As per the RBI, HDFC Bank has violated the provisions of section 6(2) and section 8 of the Banking Regulation Act, 1949.
  • After receiving a complaint from a whistleblower, RBI conducted an examination in the marketing and sale of thirdparty non-financial products to the bank’s auto loan customers and found that the bank was in contravention of regulatory directions.


Q13. Which lending platform has launched India’s 1st lending platform under the cryptocurrency exchange for the investors to invest their coins and earn returns?

Correct Answer is ZebPay.

  • Under the ZebPay Lending Platform, the investors could deposit their Bitcoins/other coins and earn returns like the bank’s fixed deposits (FD).
  • The platform will generate returns on users’ crypto investments based on their selected cryptos, their token and the time period for which it is loaded.


Q14. Which public sector bank has launched 3 categories of loan schemes to offer healthcare credit, business and personal loan to individuals?

Correct Answer is Canara Bank.

  • Canara Chikitsa healthcare credit facility offers loans from over Rs 10 lakh to Rs 50 crore to registered hospitals, nursing homes, medical practitioners, diagnostic centres, pathology labs that are engaged in servicing healthcare infrastructure.
  • Under the Canara Jeevanrekha healthcare business loan, the bank will offer loan up to Rs 2 crore at a concessional interest rate for manufacture and supply of healthcare products viz, medical oxygen and oxygen cylinders, and oxygen concentrators to registered hospitals and nursing homes or other manufacturers, and suppliers.
  • Canara Suraksha personal loan scheme will provide loans from Rs 25,000 – Rs 5 lakh as immediate financial assistance for COVID-19 treatment.

Obituaries

Q1. Renowned personality Rajkumar Keswani passed away recently, he was a veteran?

Correct Answer is Journalist.

  • He had warned about irregularities that led to the Bhopal gas tragedy much before the world's worst industrial disaster took place in 1984.
  • After starting his career as sub-editor of Sports Times during college days, Keswani went on to be associated with prominent outlets like New York Times, NDTV, Dainik Bhaskar, The Illustrated Weekly of India, Sunday, India Today and The Week.


Q2. Renowned personality Pandit Rewa Prasad Dwivedi passed away recently, he was a veteran?

Correct Answer is Sanskrit scholar.

  • His original works include poetry as epics and lyrics, plays, and prose. He wrote new literature under the pseudonym "sanatana", meaning 'the eternal'.
  • His most significant works, Sitacaritam and Svatantryasambhavam are two epic poems. He has written extensively on Sahityasastra (Poetics) and produced such great works as Kavyalankarakarika, Natyanusasanam, and Sahityasarirakam.
  • In the early 1980s, Dwivedi organized the World Sanskrit Conference at Banaras Hindu University.


Q3. Name the former chairman of the Atomic Energy Commission who passed away recently (May 2021)?

Correct Answer is Srikumar Banerjee.

  • He retired as chairman of the Atomic Energy Commission and secretary of the Department of Atomic Energy in 2012.
  • Banerjee also served as the director of the Bhabha Atomic Research Centre (BARC) for six years till 2010.
  • A metallurgy engineer from the IIT Kharagpur, Banerjee joined the BARC after completing his B Tech degree, and rose to become the director of the premier scientific institution.


Q4. Former Indian Olympian Sakti Mazumdar passed away recently, he was associated with which sports?

Correct Answer is Boxing.

  • Sakti Mazumdar had represented India in the 1952 Helsinki Olympics in the men’s flyweight event.
  • In his first fight he beat Nguyen Van Cua of Vietnam by walkover.
  • But he was defeated by Han Soo-ann of South Korea in the next round.


Q5. Renowned personality O P Bhardwaj, passed away recently, he was a former coach of which sports?

Correct Answer is Boxing.

  • Bhardwaj, India’s first Dronacharya awardee coach in boxing had served as a national selector and was the coach of the national side from 1968 to 1989.


Q6. Renowned sportsman Max Mosley passed away recently, he was associated with which sports?

Correct Answer is Formula One.

  • The youngest son of Oswald Mosley, the leader of the British fascist movement in the 1930s.
  • Mosley was a racing driver, team owner and lawyer before becoming president of the International Automobile Federation (FIA) in 1993.


Q7. Motorcycle rider Jason Dupasquier passed recently following a crash during Moto3 qualifying race for the Italian Grand Prix he held from which country?

Correct Answer is Switzerland.

  • Dupasquier was involved in an accident with Ayumu Sasaki and Jeremy Alcoba toward the end of Saturday’s session, which was immediately red-flagged.
  • Dupasquier was only 19 years old at the time of his passing.


Q8. Renowned personality Eric Carle passed away recently, he was veteran?

Correct Answer is Children’s author.

  • His classic “The Very Hungry Caterpillar” and other works gave millions of kids some of their earliest and most cherished literary memories.
  • He famous picture book “The Very Hungry Caterpillar” has been translated into about 66 languages.
  • His career as an illustrator and children’s author gained pace when he collaborated on “Brown Bear, Brown Bear, What Do You See?”.


Q9. Renowned personality H S Doreswamy passed away recently, he was a veteran?

Correct Answer is Freedom fighter.

  • He ran the publication house of ‘Sahitya Mandira’ and the Indian nationalist newspaper ‘Pauravani’ that voiced the aspirations of an independent India.
  • He joined the freedom struggle at a young age and participated in the Quit India movement. He was jailed for 14 months from 1943 to1944.

Important Days

Q1. The International Day for Biological Diversity is observed every year on?

Correct Answer is 22nd May.

  • The theme of the day this year (2021) is “We’re part of the solution #ForNature."
  • Last year’s (2020) theme was, “Our solutions are in nature."
  • The United Nations General Assembly in December 2000, adopted May 22 as International Day for Biological Diversity.


Q2. The International Day to End Obstetric Fistula is observed every year on which date by the United Nations?

Correct Answer is 23rd May.

  • The day is observed to promotes action towards treating and preventing obstetric fistula, a condition that affects many girls and women in developing countries.
  • The theme of this year’s observance is “Women’s rights are human rights! End fistula now!”.


Q3. The World Turtle Day is observed every year on which date?

Correct Answer is 23rd May.

  • The day is celebrated to make people aware of turtle and tortoise and their habitats.
  • The theme for this year “Turtles Rock!” encourages a worldwide audience to see turtles as more than just rocks with legs.


Q4. The Indian Commonwealth Day is celebrated every year on?

Correct Answer is 24th May.

  • Also known as Empire Day, Commonwealth Day commemorates the formation of the British Empire in India and other colonies of Britain.
  • This year the theme for Commonwealth Day is: Delivering a Common Future.
  • The aim of this theme is to highlight how the 54 Commonwealth countries are innovating, connecting and transforming to help achieve essential goals like tackling climate change, promoting good governance, achieving gender equality.


Q5. International Missing Children’s Day is observed globally every year on which date?

Correct Answer is 25th May.

  • This day is observed for missing children who have found their way home, remember those that are victims of crime, and continue efforts to seek out those that are still missing.
  • 25 May is now widely referred to as Missing Children’s Day, with the forget-me-not flower as its emblem.


Q6. World Thyroid Day is observed globally every year on?

Correct Answer is 25th May.

  • The main purpose of the WTD is to aware of the importance of Thyroid and the prevention and treatment of thyroid diseases.
  • This day is established in 2008 as a part of the campaign led by the European Thyroid Association (ETA) and the American Thyroid Association (ATA) followed by the Latin American Thyroid Society (LATS) and Asia Oceania Thyroid Association (AOTA) to commemorate the patients with Thyroid diseases and doctors and physicians who treat them.


Q7. International Women’s Health Day is observed every year on which date?

Correct Answer is 28th May.

  • Latin American and Caribbean Women’s Health Network (LACWHN) and Women’s Global Network for Reproductive Rights (WGNRR) launched the day.
  • Year after year, women, girls, advocates and allies have continued to take action and stand up for sexual and reproductive rights for what they are: an indivisible and inalienable part of our human rights.


Q8. World Hunger Day is observed globally every year on which date?

Correct Answer is 28th May.

  • The objective of this day is to raise awareness about more than 820 million people living in chronic hunger worldwide.
  • It is observed since 2011 to not only spread awareness about the malaise of chronic hunger but also to solve hunger and poverty through sustainable undertakings.
  • The initiative recognizes the dire need to save nearly a quarter of a billion lives from malnourishment and chronic hunger.


Q9. Amnesty International Day is observed every year on?

Correct Answer is 28th May.

  • The Amnesty International was founded on 28 May 1961 in London, following the publication of the article “The Forgotten Prisoners” in The Observer, a British newspaper, by the lawyer Peter Benenson.


Q10. World Digestive Health Day (WDHD) is observed every year on which date?

Correct Answer is 29th May.

  • It is organised by the World Gastroenterology Organisation (WGO) in collaboration with the WGO Foundation (WGOF).
  • The theme of WDHD 2021 is “Obesity: An Ongoing Pandemic.”


Q11. International Everest Day is being observed on?

Correct Answer is 29th May.

  • Nepalese Tenzing Norgay and New Zealand’s Edmund Hillary had climbed Mt. Everest on this day in 1953, as the first humans to achieve the feat.
  • Nepal decided to observe the day as International Everest Day in 2008 when the legendary climber Hillary passed away.


Q12. What is the theme of the World No Tobacco Day 2021 observed every year by the WHO on 31st May?

Correct Answer is Commit to quit.

  • The annual campaign is an opportunity to raise awareness on the harmful and deadly effects of tobacco use and second-hand smoke exposure, and to discourage the use of tobacco in any form.
  • This yearly celebration informs the public on the dangers of using tobacco, the business practices of tobacco companies, what WHO is doing to fight the tobacco epidemic, and what people around the world can do to claim their right to health and healthy living and to protect future generations.

New Appointments

Q1. Narinder Batra of India has been re-elected as the President of which sport organization?

Correct Answer is International Hockey Federation (FIH).

  • He is also the President of the Indian Olympic Association (IOA) and a member of International Olympic Committee (IOC).
  • The FIH Congress was held virtually due to travel restrictions imposed in the wake of the ongoing pandemic.
  • He will hold the office until 2024 as the FIH has reduced the term from four to three years due to deferment of the Congress last year.


Q2. Name the hockey player who has been appointed as the a member of the FIH Athletes’ Committee?

Correct Answer is P R Sreejesh.

  • Sreejesh was one of the four new members appointed by the EB which met two days before the 47th FIH Congress.
  • Sreejesh Parattu (IND), Marlena Rybacha (POL), Mohamed Mea (RSA), and Matt Swann (AUS) are now joining the Committee.
  • The 33-year-old Sreejesh is one of the senior-most and decorated players of the Indian team.


Q3. Who has been appointed as the Chief Executive Officer (CEO) of the Reserve Bank Innovation Hub (RBIH)?

Correct Answer is Rajesh Bansal.

  • Rajesh Bansal was a member of the founding team of Aadhaar who played a key role in designing India’s Direct Benefit transfer system, particularly for cooking fuel and electronic KYC (e KYC).
  • He is an expert in electronic cash transfers and digital financial services and earlier he has also served in the areas of technology, financial inclusion and payment systems in RBI.
  • The Reserve Bank Innovation Hub would develop internal infrastructure to promote fintech research and facilitate engagement with innovators and start-ups.


Q4. Anatole Collinet Makosso has been appointed as the new Prime Minister of which country?

Correct Answer is Congo.

  • He was appointed by Denis Sassou Nguesso, the President of Congo.
  • He replaced the former Prime Minister Clement Mouamba, who has been in office since 2016.
  • Anatole Collinet Makosso was born in 1965 in Pointe Noire, Congo.


Q5. Who has been appointed as the Chief Justice of the Chhattisgarh High Court?

Correct Answer is Prashant Kumar Mishra.

  • The appointment was made in view of the impending retirement of Justice PR Ramachandra Menon who is set to demit office on May 31, 2021.
  • He also served as Advocate General and became a judge of the Chhattisgarh High Court in December 2009.


Q6. Who has been appointed as the new Director of the Central Bureau of Investigation (CBI)?

Correct Answer is Subodh Jaiswal.

  • He was the most senior officer among the three shortlisted for the post of CBI Director.
  • Jaiswal, along with KR Chandra and VS Kaumudi, was short-listed out of 109 officers for the top post by the highpowered committee led by Prime Minister Narendra Modi.
  • Other members of the committee include Chief Justice of India (CJI) NV Ramana and Leader of Opposition in the Lok Sabha, Adhir Ranjan Chowdhury.


Q7. Who has been appointed as the Commerce Secretary, Government of India?

Correct Answer is B.V.R. Subrahmanyam.

  • Mr. Subrahmanyam is a 1987 batch IAS officer of the Chhattisgarh cadre, and was sent on deputation to Jammu and Kashmir in June 2018.
  • He served as Chief Secretary when the State was bifurcated into two Union Territories in 2019.
  • He is a widely experienced bureaucrat having worked in Manmohan Singh Prime Minister’s Office as Joint Secretary.


Q8. Who has been sworn in as the president of the Central Tibetan Administration (CTA), the Dharamshala-based Tibetan government-in-exile?

Correct Answer is Penpa Tsering.

  • Chief Justice Commissioner Sonam Norbu Dagpo administered the oath to Penpa Tsering, the second democratically-elected Sikyong (president) of the 17th Parliament-in-Exile of the Central Tibetan Administration.
  • Penpa Tsering succeeded Lobsang Sangay.
  • Penpa Tsering, 53, was the speaker of the Parliament of the CTA for two terms between 2008 and 2016.


Q9. Who will be the CEO of Amazon from July 2021?

Correct Answer is Andy Jassy.

  • Andy Jassy (Amazon Web Services founder) will be replacing the current CEO of Amazon by replacing Jeff Bezos in the second half of 2021.
  • Andy Jassy joined Amazon in 1997 and has led Amazon’s Web Services cloud team since its inception.
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