Weekly Current Affairs (1st to 7th February 2022) Part - 1 | Current Affairs & Hindu Analysis: Daily, Weekly & Monthly - UPSC PDF Download

Banking & Financial Awareness

Q.1. Which public sector company has begun India's maiden project of mixing hydrogen into the natural gas system at Indore?

Correct Answer is GAIL (India) Limited.

• This is a first-of-its-kind project in the country.
• The hydrogen blended natural gas will be supplied to Avantika Gas Limited, one of GAIL's Joint Venture (JV) company with HPCL, operating in Indore.

Q.2. Which e-wallet company has introduced “India’s first” intelligent messenger called ‘Pops’?

Correct Answer is Paytm.

• ‘Pops’ Messenger will allow its user to receive specific information related to their stocks, analysis about their portfolio, market news, and important market movements, all in one place.
• It will also serve as a marketplace to offer sophisticated stock recommendations, new insights and new services.

Q.3. Direct to Home (DTH) platform, Tata Sky has rebranded itself with a new name and identity and will now be called as?

Correct Answer is Tata Play.

• The DTH company has joined hands with Netflix to offer new OTT (over the top) content centric channel packs as well.
• With the OTT combo packs, Tata Play users will be able to get a subscription to both the OTT platforms in the Binge service as well as the normal TV channels. Tata Play Binge will hosts content from 13 leading OTT apps through a single User Interface while offering the flexibility of single subscription and payment.

Q.4. Which bank has launched a dedicated centralized processing cell - Surya Shakti Cell in collaboration with Tata Power Solar Systems?

Correct Answer is State Bank of India.

• The Surya Shakti Cell will process all the loan applications for Solar Projects (capacity up to 1 MW) sourced from across India, for installation by business entities as well as households.
• With this digital initiative, SBI will offer a complete solution at competitive rates for Solar projects.

Q.5. Which entity has acquired 5% equity stake in Power Exchange of India Ltd (PXIL)?

Correct Answer is  NTPC Vidyut Vyapar Nigam Ltd.

• NVVN has purchased the shares of PXIL from NSE Investment, a co-promoter shareholder of PXIL.
• NVVN is one of the top power traders in India and the acquisition of an equity stake in PXIL would enable a strategic opportunity for NVVN to achieve and maintain a good position in the power trading market.

Q.6. Which petroleum company has marked its foray into non-fuel retailing sector by inaugurating its Retail Store under brand name HaPpyShop?

Correct Answer is Hindustan Petroleum Corporation.

• Located at the company-owned retail outlet at the upmarket Nepean Sea Road near Malabar Hills, this is the company’s latest offering at its “Club HP” retail outlet.
• The store will provide home utility products including food, toiletries, healthcare products, bakery products, groceries, medicines and more.

Q.7. With what initial authorized capital the Government of India sets up a National Land Monetisation Corporation?

Correct Answer is ₹5000 crores.

• So far, CPSEs have referred 3,400 acres of land and other non-core assets for monetisation from CPSEs including MTNL, BSNL, BPCL, B&R, BEML, HMT Ltd, Instrumentation Ltd.
• Top five sectors including roads, railways, power, oil and gas pipelines and telecom account for around 83 percent of the aggregate value.

Q.8. In Phase I of its operation the National Asset Reconstruction Company (NARCL) or bad bank what aggregate amount of about 15 accounts will be transferred to NARCL in the current financial year?

Correct Answer is Rs 50,000 crore.

• A total of 38 NPA accounts worth Rs 82,845 crore have been identified to be transferred to NARCL initially.
• In the Phase I 15 accounts worth Rs 50,000 crore will be transferred to NARCL in the current financial year.

Q.9. Vedanta Ltd has tied up a facility of ₹8000 crore with which bank to take over majority of the syndicated facility after discussions with lenders?

Correct Answer is Union Bank of India.

• During 2020, amid the COVID-19 pandemic, Vedanta Ltd had tied up a syndicated facility of ₹10Kcr with State Bank of India as the lead bank at a running cost of 10.5 per cent.
• This replacement facility was availed on Dec 2021 to take over the existing Syndicated facility to reduce the overall interest cost of the company.

Q.10. Union Government has approved the continuation of the Scheme of Assistance to National Sports Federations (NSFs) with an outlay of?

Correct Answer is Rs. 1875 crore.

• It is the main source of funding for the preparation of national teams for all major national, international competitions.
• Funding will be used by National Sports Federations to conduct national coaching camps and provide training of international standards to athletes.

Q.11. Which public sector and Patanjali Ayurved Limited (PAL) have launched co-branded credit cards in partnership with the National Payments Corporation of India (NPCI)?

Correct Answer is Punjab National Bank.

• The co-branded credit cards are offered on NCPI's RuPay Platform and is available in two variants – PNB RuPay Platinum and PNB RuPay Select.
• Both the co-branded cards offer a hassle-free credit service to purchase day-to-day Patanjali products, along with cash backs, loyalty points, insurance cover and more.

Q.12. Which online platform has partnered with Simpl, a marquee buy-now-pay-later platform to provide BNPL services to its merchants?

Correct Answer is Dukaan.

• Simpl is a marquee buy-now-pay-later platform.
• Dukaan is a Bangalore-based startup that enables D2C and SMB merchants to set up online stores and sell products digitally.

Q.13. According to domestic rating agency CRISIL, what will be the real GDP growth in FY 2022-23?

Correct Answer is 7.8 per cent.

• This estimate is owing to Budget proposals focused on loosening the purse strings by boosting capital expenditure and going slow on fiscal consolidation.
• The agency said global growth is expected to slow this year as major economies see a withdrawal of monetary and fiscal stimulus.

Q.14. According to the London-based Brand Finance, the Life Insurance Corporation of India (LIC) is ranked as ______ most valued insurance brand globally?

Correct Answer is 10th.

• Also, LIC is ranked third in brand strength globally after Poste Italiane of Italy and Mapfre of Spain and is also the 10th most valued insurance brand globally.
• The market value of LIC will become Rs 43.40 lakh crore or $59.21 billion by 2022, and Rs 58.9-lakh crore or $78.63 billion by 2027.

Q.15. In February 2022, the Reserve Bank of India has cancelled the licence of which co-operative bank?

Correct Answer is Independence Co-operative Bank Ltd.

• Consequently, the bank ceases to carry on banking business, with effect from the close of business on February 03, 2022.
• The bank does not have adequate capital and earning prospects. 

Q.16. Which bank has signed a tripartite MoU with the Indira Gandhi Centre for the Arts and National Culture Fund for Development of Atmanirbhar Bharat Centre for Design (ABCD) at L1 Barrack, Red Fort, in Delhi?

Correct Answer is SBI.

• The main objective of Project ABCD is to highlight, promote and celebrate the products that have the Geographical Indication sign to give a boost to Economic Value Addition to GI products from India.
• The ABCD project will be implemented by IGNCA, an autonomous organization under Ministry of Culture through ministry’s NCF fund.

Q.17. Ping An Insurance is an insurance company of which country that has been designated as the top most valuable insurance company globally as per the latest Brand Finance report of 2022?

Correct Answer is China.

• 5 Chinese insurance companies are among the top ten ranking.
•  The US has two companies in the top 10, while France, Germany, and India have one each in the list.
• This has Life Insurance Corporation becoming the only domestic insurer to rank in the top 10 list strongest brands and top 10 most valuable insurance brands.

Q.18. What amount of sovereign loan has been provided by the Asian Development Bank (ADB) to India in 2021 including USD 1.8 billion towards coronavirus response?

Correct Answer is USD 4.6 billion.

• This included USD 1.8 billion towards coronavirus disease (COVID-19) pandemic response.
• The agency extended a USD 2.2-billion support for 12 state projects, committed to its geographically balanced programming.
• The ADB's India portfolio comprised 69 projects worth USD 15.5 billion as of 31st December 2021.

Q.19. Which payments bank has partnered ICICI Lombard General Insurance to offer Cyber Insurance Solutions to customers?

Correct Answer is Airtel Payments Bank.

• The cyber insurance solution from ICICI Lombard provides financial protection to customers against potential financial fraud relating to banking, credit or debit card; identity theft; phishing or email spoofing, and more.
• Airtel Payments Bank customers can purchase this cyber insurance policy using the Airtel Thanks app.
• This insurance comes with a ZERO waiting period and allows users to make multiple claims multiple times during the policy tenure, within the limits of the insured amount opted for.

Q.20. As per the recently presented Economic Survey 2021-22, which state tops the list of newly recognised startups and unicorns ?

Correct Answer is Maharashtra.

• Maharashtra alone recognised 11,308 of the fourteen thousand startups that began operations in the current financial year.
• Out of the 44 companies that achieved the unicorn status, 11 are based in the state

Q.21. Ministry of Finance has released the monthly Post Devolution Revenue Deficit (PDRD) Grant of what amount to 17 States?

Correct Answer is Rs. 9,871 crore.

• The Fifteenth Finance Commission has recommended a total Post Devolution Revenue Deficit Grant of one lakh 18 thousand 452 crore rupees to 17 States in the financial year 2021-22.
• An amount of over one lakh 8 thousand crore rupees has been released to the eligible States so far.

Obituaries

Q.1. What is the profession of Rupinder Singh Suri who passed away recently?

Correct Answer is  Advocate.

• Suri was appointed the ASG in June 2020.
• Suri was designated as senior advocate in 2009 and also served as the President of the Supreme Court Bar Association and the Supreme Court Advocates on Record Association.

Q.2. Renowned personality Amitabh Dayal passed away recently, he was a veteran?

Correct Answer is Actor.

• Dayal has worked in films like Kagaar: Life on the Edge (2003) with Om Puri, Bhojpuri film Rangdari (2012) and Raj Babbar’s Dhuaan (2013), Amitabh Bachchan’s Virrudh (2005).

Q.3. Legendary playback singer Lata Mangeshkar awarded the nation's highest civilian honour in which year, who passed away recently?

Correct Answer is 2001.

• Mangeshkar began singing in her teens, and in a career spanning 73 years sang more than an estimated 15,000 songs in 36 languages.
• She is known as the ‘Nightingale of India'.
• She was awarded the nation's highest civilian honour, the Bharat Ratna in March 2001.

Q.4. Renowned personality Chandupatla Janga Reddy passed away recently, he was a veteran?

Correct Answer is Politician.

• Reddy was one of the only two BJP Lok Sabha MPs elected in the 1984 general elections, conducted after the assassination of Prime Minister Indira Gandhi.
• The other BJP MP was A K Patel, who was elected from Mehsana in Gujarat.

Important Days

Q.1. The NPCI and the UPI ecosystem have announced the UPI Safety and Awareness initiative under which NPCI and the ecosystem will observe UPI Safety and Awareness Week from?

Correct Answer is February 1 to 7.

• NPCI and the ecosystem comprising leading banks and fintech will observe Feb 1 to 7 as UPI Safety and Awareness Week.
• Whole month of Feb will be UPI Safety and Awareness Month.

Q.2. In February 2022, which Indian Para Military force has celebrated its 46th Raising Day?

Correct Answer is Indian Coast Guard.

• From just 7 surface platforms in 1978, the ICG has grown into a formidable force with 158 ships and 70 aircraft in its inventory.
• It is the 4th largest Coast Guard in the world.

Q.3. What is the theme of the World Wetland Day 2022, being observed every year on 2nd February?

Correct Answer is Wetlands Action for People and Nature.

• World Wetlands Day is observed every year on 2nd February globally.
• The objective of the day is to raise awareness about the crucial role played by wetlands for people and our planet.

Q.4. World Interfaith Harmony Week is an annual event observed every year from?

Correct Answer is  February 1 to 7.

• The celebration of this event spreads the message of mutual respect, love, and tolerance among the followers of all the world’s religions, faiths, and beliefs.
• This week is especially important to celebrate in today’s time as interfaith harmony is central and essential to take the human race forward.

Q.5. What is the theme of the World Cancer Day 2022?

Correct Answer is Close the Care Gap.

• World Cancer Day is celebrated every year on February 4.
• It is a global uniting initiative led by the Union for International Cancer Control (UICC).
• Cancer is the second leading cause of death globally

Q.6. The ‘International Day of Human Fraternity’ is celebrated across the world on?

Correct Answer is 4th February.

• The annual event designated by the United Nations honours the religious and cultural diversity present in our world.
• Amidst rising religious intolerance in parts of the world, International Day of Human Fraternity seeks to showcase how diverse religions and cultures enrich our life and progress as humankind.

Q.7. What is the theme of the International Day of Zero Tolerance for Female Genital Mutilation 2021?

Correct Answer is Accelerating Investment to End Female Genital Mutilation.

• The International Day of Zero Tolerance for Female Genital Mutilation is observed on 6th February to create awareness about ending the practice of female genital mutilation (FGM).
• The day has been marked since 2012 by the United Nations (UN).

New Appointments

Q.1. Who assumed charge as the new Vice Chief of the Indian Army staff?

Correct Answer is Manoj Pande.

• Lt Gen Pande was serving as the Eastern Army Commander before assuming the new role.
• Lt Gen RP Kalita has been appointed as the new chief of Kolkata-headquartered Eastern Army Command.
• Lt Gen Pande was commissioned in the Bombay Sappers in Dec1982.

Q.2. Who has been appointed as the Director-General of the Defence Intelligence Agency?

Correct Answer is GAV Reddy.

• General Reddy would be succeeding Lt Gen KJS Dhillon. The Director-General of the Defence Intelligence Agency is the head of the organisation and is among the principal advisors on intelligence to the Minister of Defence and the Chief of Defence Staff.

Q.3. Who has been appointed as the chairperson of the Insolvency and Bankruptcy Board of India (IBBI)?

Correct Answer is Ravi Mittal.

• The appointment comes little over four months after the post fell vacant following the retirement of M S Sahoo who completed his five-year term on September 30, 2021.
• In October 2021, IBBI Whole Time Member Navrang Saini was given the additional charge as the chairperson.

Q.4. Who has been appointed as Chairman of University Grants Commission (UGC)?

Correct Answer is M Jagadesh Kumar.

• This is the second time he has been given the charge of chairman of UGC. Kumar held the charge of Chairman, UGC from 14 January 2017 to 2 February 2017.
• He was a member of UGC for three years (24 June 2016 to 23 June 2019).

Q.5. In February 2022, who has been appointed as the Brand Ambassador of ‘RummyCircle’ by Games24x7?

Correct Answer is Hrithik Roshan.

• As part of the partnership, Roshan will be seen in multimedia campaigns by RummyCircle, spanning across TV, digital and social media platforms.

Q.6. Which airline has recently appointed Rahul Bhatia as its Managing Director?

Correct Answer is IndiGo.

• The company is the parent of the country's largest airline IndiGo.
• Bhatia is the Co-founder and Promoter of InterGlobe Aviation.
• Ronojoy Dutta is the CEO of the Indigo.
• IndiGo is India’s biggest airline by market share.
• It is headquartered at Gurgaon, Haryana.

Q.7. In February 2022, who has been appointed as the Vice Chancellor of Jawaharlal Nehru University (JNU)?

Correct Answer is Santishree Dhulipudi Pandit.

• She is currently the Vice Chancellor (VC) of Savitribai Phule University.
• Ms. Pandit will be the first woman Vice Chancellor of JNU.
• Her appointment is for a period of five years.