UPSC  >  Current Affairs & Hindu Analysis: Daily, Weekly & Monthly  >  Weekly Current Affairs (8th to 14th December 2021) Part - 1

Weekly Current Affairs (8th to 14th December 2021) Part - 1 Notes | Study Current Affairs & Hindu Analysis: Daily, Weekly & Monthly - UPSC

Document Description: Weekly Current Affairs (8th to 14th 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 (8th to 14th December 2021) Part - 1 have been prepared according to the UPSC exam syllabus. Information about Weekly Current Affairs (8th to 14th December 2021) Part - 1 covers topics like Banking & Financial Awareness, Obituaries, Important Days, New Appointments and Weekly Current Affairs (8th to 14th December 2021) Part - 1 Example, for UPSC 2022 Exam. Find important definitions, questions, notes, meanings, examples, exercises and tests below for Weekly Current Affairs (8th to 14th December 2021) Part - 1.

Introduction of Weekly Current Affairs (8th to 14th December 2021) Part - 1 in English is available as part of our Current Affairs & Hindu Analysis: Daily, Weekly & Monthly for UPSC & Weekly Current Affairs (8th to 14th December 2021) Part - 1 in Hindi for Current Affairs & Hindu Analysis: Daily, Weekly & Monthly course. Download more important topics related with notes, lectures and mock test series for UPSC Exam by signing up for free. UPSC: Weekly Current Affairs (8th to 14th December 2021) Part - 1 Notes | Study Current Affairs & Hindu Analysis: Daily, Weekly & Monthly - UPSC
Table of contents
Banking & Financial Awareness
Obituaries
Important Days
New Appointments
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Banking & Financial Awareness

Q.1. Agriwise Finserv Limited has entered into a co-lending agreement with which bank for agri-loan disbursal?

Correct Answer is Central Bank of India.

  • The co-lending agreement will ensure that the farmer, agri and allied community get finance at affordable rates in a simple, transparent and speedy manner.
  • The loan will be disbursed at a blended interest rate, as per the RBI directive on co-lending of loans.


Q.2. As per the Bi-monthly Policy released in December 2021, what is the Marginal Standing Facility (MSF) rate and bank rate?

Correct Answer is 4.25 percent.

  • The Monetary Policy Committee (MPC) voted unanimously to keep the policy repo rate at four per cent to keep the stance accommodative.
  • Marginal Standing Facility (MSF) rate and bank rate will remain unchanged at 4.25 per cent.


Q.3. The Asian Development Bank (ADB) has approved a 150 million dollar (about Rs 1,095 crore) loan to provide access to inclusive, resilient and sustainable housing for the urban poor in?

Correct Answer is Tamil Nadu.

  • The project is aligned with the Government’s development priorities and policies on urban sector development, particularly the flagship program Pradhan Mantri Awas Yojana, Housing for All.


Q.4. With which bank the central government has signed a $125 million loan pact to improve access to safe and affordable drinking water and city-wide inclusive sanitation services in Dehradun and Nainital cities of Uttarakhand?

Correct Answer is Asian Development Bank.

  • The project will construct 136 kilometers of water pipe system to replace defective water networks in South Dehradun to ensure reliable and continuous water supply.
  • It will benefit more than 40 thousand people, including four thousand urban poor and vulnerable groups.


Q.5. The Reserve Bank of India has proposed to enhance the transaction limit for payments through Unified Payments Interface (UPI) for the Retail Direct Scheme (RDS) for investment in government securities and Initial Public Offering (IPO) applications from?

Correct Answer is Rs 2 lakh to Rs 5 lakh.

  • This essentially means that retail investors using the convenient UPI payment system will soon be able to invest upto Rs 5 lakh in government bonds under RBI’s RDS scheme and IPOs. The limit was Rs 2 lakh earlier.
  • RBI Governor made the announcement while announcing the outcome of the central bank’s bi-monthly policy review meeting.


Q.6. What does ‘U’ stand for in NUUP payment services the Feature phones currently have?

Correct Answer is Unified.

  • Initiated by the Government of India and developed by the National Payments Corporation of India (NPCI), it facilitates access to banking services from mobile phones.
  • The USSD code to access the NUUP is *99#.
  • The Telecom Regulatory Authority of India (TRAI) has set a maximum ceiling of ₹1.5 per transaction for accessing the NUUP, although rates can differ among service providers.


Q.7. Which small finance bank has signed a partnership agreement with fintech firm, Indiagold to launch India’s first Loan against Digital Gold?

Correct Answer is Shivalik Small Finance Bank Limited

  • This agreement will enable customers to use their digital gold balance to avail of instant and digital loans up to Rs. 60,000 and also seamlessly access gold loans starting at a monthly interest of just 1%.
  • To provide access to secure and affordable credit to the customers looking for quick liquidity against their gold assets.


Q.8. Which bank in in collaboration with National Payments Corporation of India (NPCI) and its manufacturing partner Seshaasai, has announced the launch of RuPay On-the-Go contactless wearable keychain for its debit card customers?

Correct Answer is City Union Bank.

  • Launched by Ashwini Vaishnaw, Union Minister for Railways, Communications, Electronics & Information Technology, on Sunday at New Delhi, CUB is introducing this keychain payment mode to enable customers to make payments on-the-go, according to a statement.
  • The keychain can be requested through net banking, mobile banking, and at CUB’s branches.


Q.9. Which payment bank has received RBI’s approval to operate as a scheduled payments bank?

Correct Answer is Paytm Payment Bank.

  • It has been included in the second schedule of the Reserve Bank of India (RBI) Act, 1934.
  • Apart from Paytm, Fino Payments Bank and India Post Payments Bank have also been included in the second schedule.


Q.10. Which bank has tied up with National Payments Corporation of India (NPCI) to launch its first Platinum RuPay Contactless Credit Card?

Correct Answer is Bank of Maharashtra.

  • It offers 100 reward points as a welcome benefit to users on their first retail spending worth ₹1,000 or more


Q.11. Which payments bank has tied up with NPCI’s bill payments system Bharat BillPay to facilitate cash-based bill payments service at customer’s doorstep?

Correct Answer is India Post Payment Bank.

  • Payments for various utility bills can be done on the Bharat BillPay platform and the facility will be made available to non- IPPB customers as well.
  • The aim is to provide access to payment solutions to millions of unbanked and underserved customers in remote locations at their doorstep
  • The service will enable payments of mobile postpaid, D2H recharge, school fees, and other utility services by using the bank's mobile banking service.


Q.12. Which general insurance company has announced a strategic alliance with Vasai Vikas Sahakari Bank Ltd to provide the bank’s customers access to a range of insurance solutions?

Correct Answer is Kotak Mahindra General Insurance.

  • Under this agreement, Vasai Vikas Sahakari Bank Ltd. will offer Kotak General Insurance’s comprehensive suite of general and health insurance products to its customers across its network of 21 branches.
  • The insurance products will mitigate the risks and secure the assets and health of the customers.


Q.13. Which small finance bank has partnered with Cholamandalam MS General Insurance to launch a ‘Chola Sarva Shakti Policy’, a women-specific health insurance policy?

Correct Answer is Equitas Small Finance Bank.

  • According to a recent survey among 1,009 women, only 39% of them had a health cover.
  • The Chola Sarva Shakti Policy initiative aims to provide women with an independent and comprehensive policy, which secures their future against various contingency health situations.


Q.14. Which petroleum company has collaborated with Bhabha Atomic Research Centre (BARC) to scale-up alkaline electrolyzer technology for green hydrogen production?

Correct Answer is Bharat Petroleum Corporation Ltd.

  • Presently, electrolyzer plants are imported.
  • This is a first of its kind initiative to support the country's commitment to achieve renewable energy targets and reduce greenhouse gas emissions
  • Refineries use large quantities of hydrogen for de-sulfurization to make petrol, diesel and other chemicals. Currently, hydrogen is made at the refinery via. steam reforming of natural gas, but this results in high CO2 emission.


Q.15. For cross-border transactions for capital or current account transactions of what amount and above, the Reserve Bank of India (RBI) made Legal Entity Identifier (LEI) mandatory?

Correct Answer is Rs 50 crore.

  • LEI is a 20-digit number used to uniquely identify parties to financial transactions worldwide to improve the quality and accuracy of financial data systems. The LEI numbers are maintained in a global LEI database available on the website of the Global Legal Entity Identifier Foundation (GLEIF).
  • LEI has been introduced by the Reserve Bank in a phased manner for over the counter (OTC) derivative, nonderivative markets, large corporate borrowers and large value transactions in centralised payment systems.


Q.16. Which general insurance company has announced the launch of its '#Care4Hockey' campaign aims to support the development of Hockey in India from the grass-root level?

Correct Answer is Bajaj Allianz General Insurance.

  • The Company has associated with Rani Rampal, Indian Women's Hockey Team Captain who is the face of this campaign.
  • The thought behind this campaign is to elevate field Hockey's recognition in our country and showcase how supporting a person to attain their goals can enable them to make a difference in the society.


Q.17. Which energy company has signed a power purchase agreement with state run Solar Energy Corporation of India (SECI) to supply 4667 MW of green energy?

Correct Answer is Adani Green Energy

  • This is the world’s largest ever green power purchase agreement (PPA), as Adani is on track to be the world’s largest renewables player by 2030.
  • As the world’s largest solar power developer, Adani Green Energy will supply 4,667 MW.


Q.18. Which became the first certified tokenization service for NPCI Tokenization system (NTS) supporting tokenization of RuPay cards?

Correct Answer is PayPhi

  • On the lines of the guidelines issued by Reserve Bank of India (RBI) in September 2021 regarding tokenization of cards during online transactions, NPCI announced the launch of NPCI Tokenization system (NTS).
  • In this regard, PayPhi, Phi Commerce’s API (Application programming interface) first digital payments platform, became the first certified tokenization service for NTS supporting tokenization of RuPay cards.
  • Tokenization of cards as an alternate to storing card details with merchants.


Q.19. According to a report by Ministry of Finance how many Automated Teller Machines (ATMs) have been installed across India by the end of September 2021?

Correct Answer is 2.13 Lakh.

  • The Finance Ministry announced that around 2.13 Lakh Automated Teller Machines (ATMs) have been installed across India by the end of September 2021.
  • Out of 2.13 lakh ATMs, 4 percent of ATMs are installed in rural and semi-urban areas.
  • RBI has directed the White Label ATMs (WLAs) operators must deploy a minimum of 1,000 ATMs every year
  • WLA should maintain a deployment ratio of 1:2:3 for metro and urban, semi-urban and rural regions respectively.


Q.20. Which bank has partnered with Flipkart, an e-commerce platform, to offer an instant and digital overdraft (OD) facility of up to 25 lakh to individual sellers and businesses registered on Flipkart?

Correct Answer is ICICI Bank.

  • The OD is renewable on an annual basis, depending on the repayment track records of the seller
  • The OD Facility is enabled by Application Programming Interface (API) and the process from application to sanction to disbursement is completely digital.


Q.21. Which bank has signed an MoU with Centrum Housing Finance Limited (CHFL) for sourcing and financing housing loan borrowers under Co-Lending Model (CLM) mechanism?

Correct Answer is Bank of Baroda.

  • CHFL is one of the leading housing finance companies that provides long-term housing finance.
  • The Bank will penetrate deep into the markets of tier 2 & tier 3 cities at very competitive interest rates.
  • Bank extends upto of Rs.1000 crore as Housing finance in one financial year.

Obituaries

Q.1. Renowned personality Nanda Prusty, fondly known as Nanda Sir passed away recently, he was a veteran?

Correct Answer is Teacher.

  • His family later took him to the Jajpur district headquarters hospital and Tata Covid Hospital for further treatment.
  • The much respected “Nanda Sir” will be remembered for generations due to his efforts to spread the joys of education in Odisha.


Q.2. Renowned personality Anne Rice passed away recently, she was a veteran?

Correct Answer is Writer.

  • Anne Rice's debut novel, published in 1976, Interview with the Vampire revolves around a vampire named Louis de Pointe du Lac, who narrates the story of his life to a reporter.
  • The novel was written shortly after the death of Anne's young daughter, Michelle, who was reportedly an inspiration for the character of Claudia - a child vampire - in the novel.


Q.3. Renowned personality Dr Suresh Jadhav has passed away recently, he was a veteran?

Correct Answer is Biotechnologist

  • He was part of several national and international bodies and organisations. Serum Institute of India is the world’s largest vaccine maker.
  • It is the second company to apply for the approval of a vaccine candidate from the Drugs Controller General of India.


Q.4. Chief of Defence Staff (CDS) General Bipin Rawat has passed away in a helicopter crash near Coonoor in Tamil Nadu. He was which number of Chief of Army Staff?

Correct Answer is 26th.

  • He was among the 14 people who were on board, including his wife and staff members. Thirteen people have succumbed to the crash, including CDS Rawat, Madhulika Rawat and 11 others.
  • An IAF Mi 17 V5 helicopter with a crew of 4 members carrying the CDS and 9 other passengers met with a tragic accident. Wing Commander Prithvi Singh Chauhan was the pilot of the Mi-17V5.

Important Days

Q.1. South Asian Association for Regional Cooperation (SAARC) Charter Day is annually observed on?

Correct Answer is 8th December.

  • The 8th December 2021 marks the observance of the 37th SAARC Charter Day.
  • The charter was signed by the Leaders of SAARC Countries Heads of State or Government of Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka at the First SAARC Summit held in Dhaka, Bangladesh.


Q.2. International Anti-Corruption Day is observed annually on which date?

Correct Answer is 9th December.

  • The day is observed since the passage of the United Nations Convention Against Corruption on 31 October 2003.
  • The theme of International Anti-Corruption Day 2021: “Your right, your role: say no to corruption”.


Q.3. The International Day of Commemoration and Dignity of the Victims of the Crime of Genocide and of the Prevention of this Crime is observed annually on?

Correct Answer is 9th December

  • The purpose of the day is to raise awareness of the Genocide Convention and its role in combating and preventing the crime of genocide, as defined in the Convention, and to commemorate and honour its victims.


Q.4. What is the theme of Human Rights Day 2021, which is observed every year on 10th December?

Correct Answer is EQUALITY - Reducing inequalities, advancing human rights.

  • The day is being observed every year on 10th December to mark the anniversary of the adoption of Universal Declaration of Human Rights (UDHR) by United Nations General Assembly in 1948.


Q.5. International Mountain Day is observed globally every year on?

Correct Answer is 11th December.

  • The day is celebrated to create awareness about the importance of mountains to life, to highlight the opportunities and constraints in mountain development and to build alliances that will bring positive change to mountain peoples and environments around the world.


Q.6. International Universal Health Coverage Day is observed every year on which date?

Correct Answer is 12th December.

  • This year theme of International Universal Health Coverage Day is “Leave No One’s Health Behind: Invest in health systems for all.”


Q.7. International Day of Neutrality is observed every year on which date?

Correct Answer is 12th December.

  • It was officially declared by a UN General Assembly resolution adopted in February 2017 and first observed on December 12, 2017.


Q.8. Every year, UNICEF Day is observed on which date to raise awareness about saving children’s lives by defending and helping them to fulfil their wishes?

Correct Answer is 11th December.

  • The day provides assistance for the health, nutrition, education, and welfare of children during World War II.
  • UNICEF’s name was subsequently changed from United Nations International Children’s Emergency Fund to United Nations Children’s Fund though, it continued to be known by the popular acronym based on the previous title.


Q.9. National Energy Conservation Day is celebrated every year on which date?

Correct Answer is 14th December.

  • The day focuses on making people aware of global warming and climate change and promotes efforts towards saving energy resources.
  • The Energy Conservation Act was implemented by the Energy Efficiency Bureau (BEE) in 2001.
  • BEE is a constitutional body that works under the Government of India and helps in the development of policies and strategies to reduce the use of energy.

New Appointments

Q.1. Who became the first female president of Honduras in the Presidential election of Honduras in December 2021?

Correct Answer is Xiomara Castro.

  • The conservative ruling party accepted loss in presidential elections held two days earlier.
  • Handing victory to Castro and assuaging fears of a second contested election and violent demonstrations.


Q.2. Who has been appointed as the Executive Director of United Nations International Children’s Emergency Fund (UNICEF)?

Correct Answer is Catherine Russell.

  • Russell will succeed Henrietta Fore, who resigned in July 2021.
  • Russell, a lawyer, has worked in Democratic politics since the mid-1980s.
  • Catherine Russell is an assistant to US President Joe Biden and she also heads the White House Office of Presidential Personnel.


Q.3. Name the Indian-origin person who has been elevated to Head of the White House personnel office?

Correct Answer is Gautam Raghavan.

  • He succeeded Catherine Russel, who has been appointed Executive Director of UNICEF.
  • Gautam Raghavan was Russel's Deputy at the White House Office of Presidential Personnel.
  • He is the editor of the book 'West Wingers: Stories from the Dream Chasers, Change Makers, and Hope Creators Inside the Obama White House'.


Q.4. Radha Unni, former Chief General Manager, State Bank of India has been appointed as Independent Director of which bank?

Correct Answer is South Indian Bank.

  • She brings to the table 36 years of banking experience.
  • During her tenure in State Bank of India, Radha Unni had handled corporate credit and project appraisal of small and medium enterprises.


Q.5. Who has been appointed as the Managing Director (MD) and Chief Executive Officer (CEO) of Ujjivan Small Finance Bank (SFB) for a period of 3 years?

Correct Answer is Ittira Davis.

  • The bank has also appointed Rajesh Kumar Jogi, Harish Devarajan and Umesh Bellur as additional directors.
  • Ittira Davis is succeeded by former MD and CEO Nitin Chugh
  • Davis has also been appointed as Key Managerial Personnel in terms of Section 203 of the Companies Act, 2013 for a period same as that of his tenure as MD and CEO of Ujjivan Small Finance Bank.
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