Weekly Current Affairs (15th to 21st January 2022) Part - 1 - UPSC PDF Download

Banking & Financial Awareness

Q.1. Which IT company of India has been selected by the Ministry of External Affairs for the 2nd phase of the Passport Seva Programme, the country’s largest mission-critical e-governance programme?

Correct Answer is  Tata Consultancy Services.

• Launched in 2008, the PSP saw TCS transforming the delivery of passport-related services, digitizing the processes, and setting global benchmarks in timeliness, transparency, and reliability.
• In the next phase, TCS will refresh existing facilities and systems, and develop innovative new solutions to enable the issuance of e-passports.

Q.2. Which Regional Rural Bank (RRBs) has signed a memorandum of understanding (MoU) with the Mecwin Technologies Ltd to introduce farmer-friendly solar-powered pump-sets using bank finance?

Correct Answer is  Karnataka Vikas Grameena Bank (KVGB).

• The MoU will benefit farmers since Mecwin Technologies Ltd is specialised in the production and management of solar irrigation pump-sets.
• Apart from this, the bank has the largest branch network in rural areas.
• KVGB was the first bank to introduce solar loan schemes.

Q.3. Fintech company Lendingkart has entered into a co-lending partnership with which bank to provide low-cost business loans of up to ₹10 lakh to micro, small and medium enterprises (MSMEs) across the country?

Correct Answer is  Canara Bank.

• The loans will be provided with fast turnaround time for approvals powered by “Lendingkart 2gthr" platform using ‘zero touch’ technology.
• Through this alliance it aims to broaden its reach to support MSME borrowers to enhance financial inclusion under the Reserve Bank’s Priority Sector initiative.

Q.4. Which fintech firm has collaborated with National Payments Corporation of India (NPCI) Bharat BillPay to launch ClickPay for its customers?

Correct Answer is  MobiKwik.

• Through ClickPay, MobiKwik customers will be able to pay recurring online bills, such as mobile, gas, water, electricity, DTH, insurance and loan EMIs with ease by eliminating the need to remember individual bill details and due dates.

Q.5. According to the report titled “World Employment and Social Outlook Trends 2022”, released by the International Labour Organisation (ILO), what will be the global unemployment in 2022?

Correct Answer is  207 million.

• The International Labour Organization (ILO) has released a report titled ‘World Employment and Social Outlook Trends 2022’.
• The report warns of a slow and uncertain recovery, as the pandemic continues to have a significant impact on global labour markets.

Q.6. In association with Equirus Wealth, which bank has launched a “US Dollar offshore fund” exclusively for their customers?

Correct Answer is  Federal Bank.

• This is in collaboration with SCUBE Capital, a Singapore-based global fund management company.
• Both NRI and Resident customers of Federal Bank will be able to invest in this fund.

Q.7. As per the latest RBI data, what is the Digital Payment Index (DPI) in September 2021?

Correct Answer is  304.06.

• RBI-DPI Index continues to demonstrate significant growth in adoption and deepening of digital payments across the country.
• The Index captures the extent of digitisation of payments across the country.
• As per latest RBI data, the total volume of digital payments rose about 57.50 per cent year-on-year to 645.84 crore in November 2021 against 410.07 crore in November 2020.

Q.8. As per the latest RBI data, released on January 2022, the total volume of digital payments rose by what percent yearon-year in November 2021?

Correct Answer is  57.50 per cent.

• As per latest RBI data, the total volume of digital payments rose about 57.50 per cent year-on-year to 645.84 crore in November 2021 against 410.07 crore in November 2020.
• The total value of digital payments was up 32 per cent y-o-y to ₹1,48,03,884 crore in November 2021 against ₹1,11,99,549 crore in November 2020.

Q.9. The Reserve Bank of India (RBI) calculate Digital Payment Index (DPI) on basis of which base period?

Correct Answer is  March 2018.

• The DPI index comprises five broad parameters that enable us to know the penetration of digital payments in the country over different time periods.
• The parameters include payment enablers, with a weightage of 25 per cent in the index, followed by demandside and supply-side payment infrastructure factors, with a weightage of 10 per cent each.

Q.10. As per the latest GDP prediction by Ind-Ra, what is the estimated GDP growth rate for Indian economy in FY 2022-23?

Correct Answer is  7.6%.

• After two years, the Indian economy will show a meaningful expansion, as the real GDP in FY23 will be 9.1 per cent higher than the FY20 (pre-Covid level) GDP level.
• However, the size of the Indian economy in FY23 will be 10.2 per cent lower than the FY23 GDP trend value

Q.11. Which regulatory body has launched Saa ₹thi mobile app to empower investors with the accurate knowledge of security market?

Correct Answer is  SEBI.

• It will create awareness among the investors about the basic concepts of securities market, KYC process, trading and settlement, mutual funds, etc.
• The app is available in Hindi and English.

Q.12. Which tech-giant is buying video game publisher Activision Blizzard for almost $69 billion?

Correct Answer is  Microsoft.

• This acquisition will accelerate the growth in Microsoft’s gaming business across mobile, PC, console and cloud and will provide building blocks for the metaverse.
• Activision Blizzard is famous of Candy Crush and Call of Duty, Xbox, among other leading video games.

Q.13. How much capital is being infused in Indian Renewable Energy Development Agency Limited, (IREDA) by Union Cabinet?

Correct Answer is  Rs 1500 crores.

• It will raise the lending capacity of IREDA to Rs 12,000 crore to the renewable energy sector.

Q.14. NIF’s Incubation and Entrepreneurship Council has signed MoU with which entity for online distribution of product of grassroots innovations ?

Correct Answer is  Amazon India.

• It will make innovations from rural parts of India available universally and will ensure capacity building of grassroots innovators by engaging industry and subject matter experts.

Q.15. Which financial institution has signed MoU with Insurance Institute of India (III) for capacity building of professionals in the insurance sector?

Correct Answer is  IFSCA.

• It would design and conduct such examinations and training for professional in IFSC which would aid in having skilled talent in IFSC eco-system.

Q.16. What amount has been sanctioned by the Small Industries Development Bank of India (SIDBI) for AU SFB and Jana SFB – to provide funds to finance companies and Micro Finance Institutions (MFIs)?

Correct Answer is  Rs 650 crore.

• The financial assistance has been extended out of the Special Liquidity Facility sanctioned by the Reserve Bank of India.
• This liquidity line has been provided to SIDBI to meet the challenges being faced by the MSMEs due to the prevailing Covid-19 pandemic situation

Q.17. Which bank has tied up with MinkasuPay, a mobile payments company based in Silicon Valley, California, to offer a smooth net banking payment experience to its customers through biometric authentication solution?

Correct Answer is  Axis Bank.

• The transaction time will reduce from the current 50-60 seconds to just 2-3 seconds with fingerprint or face ID authentication, while increasing success rates significantly.
• Axis Bank through this partnership with MinkasuPay will enable customers to make net banking payments in merchant apps using Fingerprint or Face ID, without the need of usernames, passwords, and OTPs.

Q.18. Yes Asset Management’s name has been changed to?

Correct Answer is  White Oak Capital Asset Management.

• Further, Yes Mutual Fund will now be called White Oak Capital Mutual Fund, Aashish P Sommaiyaa, Chief Executive Officer of White Oak Capital.
• Founded by Prashant Khemka, formerly CIO of Goldman Sachs Asset Management’s India Equity and Global Emerging Markets Equity businesses, White Oak Capital group provides investment management and advisory services for equity assets of over Rs 42,000 crore.

Q.19. Power Grid Corporation of India Ltd has signed a joint development agreement with Africa50 to develop a transmission project in?

Correct Answer is  Kenya.

• Under a public-private partnership (PPP) framework, the project involves the development, funding, building, and operation of the 400kV Lessos – Loosuk and 220kV Kisumu – Musaga transmission lines.
• When finished, the project will be Kenya’s first Independent Power Transmission (IPT) and will serve as a benchmark in Africa as the first PPP-based financing of transmission lines

Q.20. Which motor company has inked a pact with leading on-demand delivery platform Swiggy to bolster the electric commercial mobility segment?

Correct Answer is  TVS Motor Company.

• The partnership highlights TVS Motor Company’s commitment to strengthen electrification across diverse mobility segments and align with Swiggy’s many efforts to enable the adoption of EVs in its delivery fleet.
• As part of the agreement, TVS Motor and Swiggy will test the implementation of TVS Motor’s EV for food delivery and other on-demand services of Swiggy.

Q.21. Marwadi Financial Services (MFS) partnered with which payments bank to allow its clients an integrated 3-in-1 savings account that combines the features of savings, demat and trading accounts?

Correct Answer is  NSDL Payments Bank.

• Using this account, investors will be able to seamlessly transfer funds in real time and execute trades in almost no time.
• Users will also be able to avail margins without actually moving funds between their savings and trading accounts.

Obituaries

Q.1. Renowned personality Pandit Birju Maharaj passed away recently, he was a veteran?

Correct Answer is  Kathak Maestro.

• A recipient of the country’s second-highest civilian award, Padma Vibhushan was born in a well-known family of Kathak dancers.
• Pandit Birju Maharaj donned several hats during his lifetime.
• While he was best known as a Kathak dancer, he was an equally prolific singer, poet and painter.

Q.2. Renowned personality Prof M K Prasad passed away recently he was a veteran?

Correct Answer is  Environmentalist.

• He was a prominent figure in the historic grassroot level movement to save the evergreen tropical rain forests in Kerala's Silent Valley from destruction.
• He had also led the popular science movement, ‘Kerala Sasthra Sahithya Parishath’.
• That had undertaken campaigns for popularisation of science in everyday life.

Q.3. Renowned personality Sidney Poitier passed away recently, he was veteran?

Correct Answer is  actor.

• Apart from his successful acting career, Sidney was also a tireless civil rights activist.
• He was awarded the US Presidential Medal of Freedom in 2009 by President Obama for his work.

Q.4. Shanti Devi, also known as Lugdi Devi passed away recently, she was veteran?

Correct Answer is  Social Worker.

• Shanti Devi Ji will be remembered as a voice of the poor and underprivileged. She worked selflessly to remove suffering and create a healthier as well as just society.
• In 2021, she was felicitated with the Padma Shri Award by President Ram Nath Kovind.

Q.5. Renowned personality Shaoli Mitra passed away recently, she was a?

Correct Answer is  Theater personality.

• Mitra was the daughter of legendary theatre personalities Shambhu Mitra and Tripti Mitra.
• She received the Sangeet Natak Akademi award in 2003, the Padma Shree in 2009 and the Bengal government’s Banga Bibhushan Award in 2012.

Q.6. Renowned personality and Padma Shri awardee, Narayan Debnath passed away recently, he was a veteran?

Correct Answer is  Cartoonist.

• Debnath is the creator of the popular Bengali comic strips of Handa Bhonda (1962), Batul the Great (1965) and Nonte Phonte (1969).
• He holds the record for the longest running comic by an individual artist for the Handa Bhonda comic series which have now completed 53 years.

Q.7. Saturnino de la Fuente García who claimed the record as the oldest person living (male) passed away in January 2022, belong to which country?

Correct Answer is  Spain.

• Saturnino claimed the record as the oldest person living (male) in September 2021 when he was exactly 112 years and 211 days.
• De la Fuente was a cobbler by trade and started working in a shoe factory at age 13.
• He was born in the Puente Castro neighbourhood of León on Feb. 11, 1909.

Q.8. Renowned personality Major Hari Pal Singh Ahluwalia has passed away recently he was a veteran?

Correct Answer is  Mountaineer.

• HPS Ahluwalia was a retired army officer, a trained mountaineer, author and social worker "who has contributed immensely in various fields including adventure, sports, environment, disability and social work.

Important Days

Q.1. In India, the Army Day is celebrated every year on which date?

Correct Answer is  15th January.

• This year marks the 74th Indian Army Day.
• The day is marked to commemorate the day when General (later Field Marshal) KM Carriappa took over the command of the Army from General Sir FRR Bucher, the last British Commander-in-Chief in 1949 and became the first Commander-in-Chief of Indian Army post Independence.

Q.2. Prime Minister Narendra Modi has declared the 'National Start-up Day' to be celebrated on?

Correct Answer is  16th January.

• The announcement was made on 15th January 2022, via video conferencing during week-long event Celebrating Innovation Ecosystem as a part of Azadi ka Amrit Mahotsav.
• During the event, over 150 startups interacted and have been divided into six working groups based on several themes.

Q.3. National Disaster Response Force (NDRF) celebrates its Raising Day every year on?

Correct Answer is  19th January.

• In 2022, the NDRF is observing its 17th Raising Day.
• There are 12 NDRF battalions located in different parts of the country and comprises as many as 13,000 NDRF personnel who work to build a safer country.

New Appointments

Q.1. Anup Bagchi has been re-appointed as the Executive Director of which bank for a period of 3 years?

Correct Answer is  ICICI Bank.

• The shareholders of the bank at its Annual General Meeting in August last year had approved Bagchi’s reappointment for five years effective February 1, 2022.
• ICICI Bank has two more executive directors — Sandeep Batra and Vishakha Mulye.

Q.2. Navrang Saini has been assigned the additional charge of the chairperson of which regulatory body?

Correct Answer is  Insolvency and Bankruptcy Board of India.

• The Centre had in Oct last year assigned additional charge of chairperson of IBBI Saini for a period of three months.
• The IBBI Chairperson is appointed by the center on the recommendations of the selection committee headed by the Cabinet Secretary.
• M S Sahoo, who was the first Chairperson of IBBI since October 1, 2016.

Q.3. Who has been appointed as the chairman of Apparel Export Promotion Council (AEPC)?

Correct Answer is  Narendra Kumar Goenka.

• He succeeded Padma Shri awardee A Sakthivel.
• Prior to this, he was the Vice Chairman of AEPC and has been associated with AEPC for more than two decades

Q.4. Who is present union minister of Micro, Small and Medium Enterprises?

Correct Answer is  Narayan Rane.

• The Ministry of Micro, Small and Medium Enterprises, a branch of the Government of India, is the apex executive body for the formulation and administration of rules, regulations and laws relating to micro, small and medium enterprises in India.
• Narayan Tatya Rane is an Indian politician from Maharashtra state and former Chief Minister of Maharashtra.

Q.5. Who has been elected as the 3rd women president of the European Union’s parliament

Correct Answer is  Roberta Metsola.

• Metsola succeeds Italian Socialist David Sassoli, who passed recently.
• She is only the third woman elected to the post.
• She is the European Parliament’s youngest president.

Q.6. Who has been appointed as the chairman and managing director of Air India Ltd?

Correct Answer is  Vikram Dev Dutt.

• Dutt, a 1993-batch IAS officer of AGMUT (Arunachal Pradesh, Goa, Mizoram and Union Territory) cadre, is at present Principal Secretary (Tourism) in Delhi government.
• He has been appointed as the Air India chief in the rank and pay of Additional Secretary.

Q.7. Who has been appointed as the new chief executive officer (CEO) of Adani Power Limited (APL)?

Correct Answer is  Shersingh B Khyalia.

• Shersingh B. Khyalia is a Chartered Accountant (CA) with over 32 years of experience in managing complex business in power industry, including generation, transmission and distribution.
• Earlier, Khyalia has worked as Managing Director in Gujarat Power Corporation, where he got experience of renewable power sector especially development of ultra-mega renewable parks.

Q.8. Ibrahim Boubacar Keita, who passed away recently, was the former President of which country?

Correct Answer is  Mali.

• He ruled Mali for seven years, since September 2013, till he was overthrown in a military coup in August 2020.
• He had also served as Prime Minister of Mali from 1994 to 2000.

Q.9. Who has been elected as the chairman of the Indian Farmers Fertilizer Cooperative (IFFCO)?

Correct Answer is  Dileep Sanghani.

• Its incumbent Chairman Balvinder Singh Nakai passed away recently.
• The elected board of directors of IFFCO unanimously elected Dileep Sanghani as the 17th chairman of the Cooperative.
• He was earlier serving as the IFFCO vice-chairman. Sanghani was elected as the vice-chairman of IFFCO in the year 2019.