Weekly Current Affairs (8th to 14th February 2022) Part - 1 - UPSC PDF Download

Banking & Financial Awareness

Q.1. What is the theme of the theme of Financial Literacy week 2022, observed by the Reserve Bank of India (RBI) from 14th to 18th February 2022?

Correct Answer is Go Digital, Go Secure.

• The theme is aligned with one of the strategic objectives of the National Strategy for Financial Education: 2020-2025.
• Reserve Bank of India (RBI) has been conducting Financial Literacy Week (FLW) every year since 2016 to  propagate financial education messages on a particular theme across the country.

Q.2. The Reserve Bank of India (RBI) observed Financial Literacy week 2022 from?

Correct Answer is 14th to 18th February.

• The theme is aligned with one of the strategic objectives of the National Strategy for Financial Education: 2020-2025.
• Reserve Bank of India (RBI) has been conducting Financial Literacy Week (FLW) every year since 2016 to propagate financial education messages on a particular theme across the country.

Q.3. What was the total corpus under the PM CARES Funds in 2020-21?

Correct Answer is 10,990.17 crore.

• The disbursal included Rs 1,000 crore for migrant welfare and over Rs 1,392 crore for procurement of Covid vaccine doses.
• The fund recorded nearly Rs 494.91 crore as foreign contributions and over Rs 7,183 crore as voluntary contributions during the fiscal.

Q.4. According to the Ministry of Commerce and Industry what amount of Foreign Direct Investment (FDI) inflows, India has received in the last five years?

Correct Answer is USD 339.55 billion.

• There has been a continuous increase in the inflow of FDI in recent years. It increased from USD 45.15 billion in 2014-15 to USD 81.97 billion in 2020-21.
• During the year 2019-20, the FDI inflows to India stood at USD 74.39 billion. In 2018-19, it stood at USD 62 billion. In 2017-18, it was USD 60.97 billion and in 2016-17, the FDI inflow to India stood at USD 60.22 billion.

Q.5. What was the rank of the Reserve Bank of India in terms of buying Gold among the world’s Central Banks in 2021?

Correct Answer is 2nd.

• Central Bank of Thailand (Bank of Thailand) was the highest buyer of Gold in 2021 and bought 90 metric tonnes of gold.
• As per Goldhub, India’s official gold reserves is ninth-largest in the world. Goldhub is the official website of World Gold Council that maintains all the data regarding precious metal.

Q.6. Which company has bought a majority stake in a Malaysian payments start-up named “Curlec” for a valuation of more than $19 million?

Correct Answer is Razorpay.

• This is Razorpay's fourth acquisition overall and comes just over a month after raising $375 million in funding. Prior to this, Razorpay acquired TERA Finlabs, Opfin and Thirdwatch.
• The Kuala Lumpur-based, Curlec builds solutions for recurring payments for businesses.

Q.7. Which social media platform has launched the campaign named ‘Take a Break’?

Correct Answer is Instagram.

• Take a Break will alert users scrolling on Instagram to periodically take breaks from the platform and focus on other things.
• The platform will also alert users of the new inclusion with a notification.

Q.8. What will be the increased limit on the e-RUPI digital voucher from current cap of ₹10,000?

Correct Answer is ₹100,000.

• This was announced by Reserve Bank of India Governor Shaktikanta Das.
• The move will further facilitate the delivery of various government schemes to the beneficiaries more efficiently, he added.
• The e-RUPI prepaid digital voucher, developed by the National Payments Corporation of India (NPCI), was launched in August 2021 and runs on the UPI platform.

Q.9. The Reserve Bank of India (RBI) has projected a conservative real GDP growth of what per cent in FY23?

Correct Answer is 7.8 per cent.

• While announcing the review of the monetary policy on Friday, the six-member monetary policy committee of the RBI retained the growth forecast for FY22 at 9.5 per cent, while CPI inflation projection was revised downward, from 5.7 per cent to 5.3 per cent.

Q.10. As per the latest Monetary Policy released by the RBI, what would be the NACH mandate limit for TReDS settlements that will fulfill the growing liquidity requirements of MSMEs?

Correct Answer is ₹3 crore.

• Governor Shaktikanta Das said it will increase National Automated Clearing House (NACH) mandate limit for Trade Receivables Discounting System (TReDS) settlements from Rs 1 crore at present to Rs 3 crore
• Transactions in TReDS are settled through the NACH system.
• This was proposed keeping in view the requests received from stakeholders and to further enhance the ease of financing and the growing liquidity requirements of MSMEs.

Q.11. Which bank’s Strategic Training Unit has entered into a partnership with NSE Academy to promote financial literacy as a necessary life skill?

Correct Answer is State Bank of India.

• Learners can start to enroll from February 9 for the five inaugural Massive Online Open Courses (MOOCs) of SBI on the NSE Knowledge Hub platform.
• The five MOOCs that the Bank is offering are: “Banking Fundamentals”, MSME Lending in a Nutshell”. “Electronic Payment System in India”, ”Priority Sector Lending Norms” and “NRI Business & Compliance” .

Q.12. Paisabazaar.com, a digital platform for consumer credit, has tied up with which bank to offer ‘Paisa on Demand’ (PoD), a credit card?

Correct Answer is RBL Bank.

• The credit card will be exclusively available on the Paisabazaar platform. As per a press release, the credit card from RBL Bank will be lifetime free with a digital onboarding process.
• Along with features of a credit card, the product will provide customers the option of availing personal loans from RBL Bank, using the same credit limit at normal personal loan rates.

Q.13. Aditya Birla Health Insurance Company Ltd has signed a bancassurance agreement with which small finance bank for the distribution of health insurance products across India through the Bank’s network?

Correct Answer is Utkarsh Small Finance Bank.

• This bancassurance partnership will help further strengthen our distribution and unlock growth opportunities through the Bank’s wide network.
• This tie-up will help us reach the tier II and tier III markets with insurance solutions thereby increasing insurance penetration in the country.
• Through the current partnership, ABHICL has 12 bancassurance partners with over 51,120 direct distributors across India.

Q.14. The Reserve Bank of India has increased the investment limit in Voluntary Retention Route (VRR) from Rs. 1,50,000 crores to?

Correct Answer is Rs. 2,50,000 crores.

• The Reserve Bank of India had introduced the Voluntary Retention Route (VRR) for investments by Foreign Portfolio Investors (FPIs) in debts in 2019 with an investment limit of ₹1,50,000 crore.
• Out of this, around ₹1,49,995 crore have been availed so far in three tranches.

Q.15. According to TomTom Traffic Index's global top 25 list what is the rank of Mumbai as most congested cities in the world in 2021?

Correct Answer is 5th.

• Delhi and Pune ranked 11th and 21st among 404 cities across 58 countries, according to TomTom Traffic Index's global top 25 list.
• However, the congestion level in Delhi during 2021 was 14% less than 2019 while in Mumbai, Bengaluru and Pune, the level dropped by 18%, 32% and 29% respectively, according the report.

Q.16. Which Public Sector Undertaking has won the Institute of Chartered Accountants of India (ICAI) award for excellence in financial reporting for the year 2020-21 in Public Sector Entities Category?

Correct Answer is RailTel.

• The company was adjudged as winner in the category plaque.
• The award was given by the Institute of Chartered Accountants of India (ICAI), the premier accounting body which has been holding the annual competition for these awards since 1958.

Q.17. Which Indian bank is set to buy Citigroup Inc.’s India retail banking business in a transaction that could be valued at about $2.5 billion?

Correct Answer is Axis Bank.

• An agreement for the consumer unit may be announced as soon as the next few weeks and is contingent on approval from the Reserve Bank of India.
• The deal would include a cash component of less than $2 billion, accounting for the consumer business’s liabilities.

Q.18. Which bank has partnered with Creditas Solutions for its ‘Neo Collections’ platform?

Correct Answer is  RBL Bank.

• The private sector lender will utilise the SaaS-based platform to accelerate efficiency in collections across the loan cycle.
• Powered by AI and ML technology, the platform is built to automate strategies for reaching out to customers individually in an empathetic manner and motivate them to repay loan.

Q.19. Which bank has announced the launch of an annual startup enabler Agri Infinity program?

Correct Answer is Yes Bank.

• It seeks to co-develop digital financial solutions for the food and agriculture ecosystem by mentoring entrepreneurial ventures in the field.
• Those meeting the eligibility criteria will receive the guidance and support necessary to develop their solutions and apply them across the agricultural value chain.

Q.20. NABARD has launched ‘JIVA’ programme to promote natural farming, under which it will invest what amount per hectare?

Correct Answer is Rs 50,000.

• Under this, NABARD will invest Rs 50,000 per hectare.
• It will be implemented on the existing completed (or near completed) projects of watersheds and wadis programme in around 11 states covering 5 agroecological zones, which are in ecologically fragile and rain-fed areas.

Obituaries

Q.1. Renowned personality Christos Sartzetakis passed away recently, he was a former president of which country?

Correct Answer is Greece.

• Christos Sartzetakis, the former President of Greece, has passed away.
• Sartzetakis, who was a jurist by profession, served as the President of Greece from 1985 to 1990.

Q.2. Renowned personality Praveen Kumar Sobti passed away recently, he was a veteran?

Correct Answer is Actor.

• Besides playing the role of Bheem, which made him a household name, Kumar also starred in many films including Amitabh Bachchan-starrer Shehenshah and Dharmendra’s Loha.
• Other films to his credit include Aaj Ka Arjun, Ajooba, and Ghayal, among others.

Q.3. Nobel laureate Luc Montagnier passed away recently, he was a?

Correct Answer is Virologist.

• His co-discovery of the human immunodeficiency virus sparked a global search for an AIDS cure.
• The scientist from the Pasteur Institute in Paris shared the 2008 Nobel Prize in Physiology or Medicine withFrancoise Barre-Sinoussi and Germany’s Harald zur Hausen, whose work on the viral causes of cervical cancer was recognized in the same year.

Important Days

Q.1. What is the theme of the Safer Internet Day 2022?

Correct Answer is Together for a better internet.

• Safer Internet Day is observed every year on the second day of the second week of February with the aim of providing a safer and better internet.
• This year in 2022, Safer Internet Day falls on 08 February 2022

Q.2. What is the theme of the World Pulses Day 2022, celebrated every year on 10th February?

Correct Answer is Pulses to empower youth in achieving sustainable agri-food systems.

• World Pulses Day is observed every year on 10 February to spread public awareness of the nutritional and environmental benefits of pulses as part of sustainable food production.

Q.3. National Deworming Day is observed on which date, to make people aware of the importance of deworming, particularly for children from 1 to 19 years of age?

Correct Answer is 10th February.

• The Day was launched by the Ministry of Health and Family Welfare in 2015. The main aim of the Day is to raise awareness on intestinal worms and to attain complete eradication of Soil-Transmitted Helminths in children. Around 24% of the world’s population is infected with soil-transmitted helminths (worms).

Q.4. What is the theme for the 7th International Day of Women and Girls in Science 2022?

Correct Answer is  Equity, Diversity, and Inclusion: Water Unites Us.

• International Day of Women and Girls in Science is observed every year on 11 February to achieve full and equal access to and participation in science for women and girls.
• The day reminds us that women are not only beneficiaries of science but are also agents of change.

Q.5. World Unani Day is observed every year which date to mark the birth anniversary of “Hakim Ajmal Khan”?

Correct Answer is 11th February.

• The day is observed on February 11, which is the birthday of noted physician Hakim Ajmal Khan, the pioneer of Unani medicine in India.
• The theme of this conference is “Diet and Nutrition in Unani Medicine for good health and well-being.”

Q.6. National Productivity Day is observed every year in India on?

Correct Answer is 12th February.

• The objective of the National Productivity Council is to stimulate and promote productivity and quality consciousness across all sectors in the country.
• The main observance of the day is to encourage all stakeholders in the implementation of productivity tools and techniques with contemporary relevant themes.

Q.7. What is the theme of the World Radio Day 2022?

Correct Answer is Radio and Trust.

• This Day was proclaimed by UNESCO on 3rd November, 2011 during its 36th conference.
• It was adopted by United Nations General Assembly in 2012 and was first observed in 2013.

Q.8. Whose birth anniversary is celebrated as National Women’s Day in India on 13th February every year?

Correct Answer is Sarojini Naidu.

• She was a political activist and poet who was an important figure in India’s struggle for independence
• She was honoured with the title of Nightingale of India or ‘Bharat Kokila’, by Mahatma Gandhi

Q.9. International Epilepsy Day is observed every year on which date?

Correct Answer is Second Monday of February (14th February 2022).

• International Epilepsy Day seeks to raise awareness and educate the general public on the true facts about epilepsy and the urgent need for improved treatment, better care, and greater investment in research.

New Appointments

Q.1. Who has been appointed as the new Director of the National Council of Educational Research and Training (NCERT), for five years?

Correct Answer is Dinesh Prasad Saklani.

• He is currently a professor of history at the HNB Garhwal University, in Uttarakhand.
• Saklani succeeds Hrushikesh Senapaty, whose five-year term ended in November 2020.

Q.2. Who has been appointed as the Brand Ambassador of the Bata India Limited?

Correct Answer is Disha Patani.

• Patani will be seen promoting various popular labels under the Bata umbrella.
• The move comes as Bata aims to appeal younger shoppers and position itself as a "fashion forward" brand.

Q.3. Bollywood actor Akshay Kumar has been appointed as the Brand Ambassador of which state?

Correct Answer is Uttarakhand.

• In 2017, Akshay Kumar was also named Uttarakhand’s brand ambassador for ‘Swachhata Abhiyan’. The actor did not charge any fee for the same and added that it was an honour for him to be associated with the campaign.
• Apart from Akshay Kumar, cricketer Rishabh Pant was also appointed as Uttarakhand’s brand ambassador in December 2021.

Q.4. Who has been appointed as the new director of Vikram Sarabhai Space Centre (VSSC)?

Correct Answer is S Unnikrishnan Nair.

• He was previously serving as the director of the Human Space Flight Centre, Isro.
• He succeeds S Somanath, who recently took over as the chairman of Isro.
• VSSC is a key space research centre of the Indian Space Research Organisation (Isro) and specialises in rocket and space vehicles for satellite programs.

Q.5. Who has been appointed the official brand ambassador of MediBuddy, one of India’s largest digital healthcare platforms?

Correct Answer is Amitabh Bachchan.

• As part of the deal, Bachchan will be seen endorsing various services available on the platform, while highlighting the need to prioritise one's health.
• With the deal in place, MediBuddy is looking at further amplifying its reach across India. Leveraging the veteran actor’s popularity, especially across tier II and tier III cities, the brand aims to position itself as a household name.

Q.6. Who has been appointed as Secretary in Department of Financial Services (DFS) in the Ministry of Finance with immediate effect?

Correct Answer is Sanjay Malhotra.

• Prior to this, he was serving as the Chairman and Managing Director of REC Ltd
• He succeeded Debashish Panda, who completed his term as DFS Secretary on Jan 31, 2022
• DFS covers functioning of Banks, Financial Institutions, Insurance Companies, National Pension System, International banking

Q.7. Who will now chair the eight-member committee on Investor Protection and Education Fund (IPEF), restructured by the capital markets regulator SEBI?

Correct Answer is G Mahalingam.

• The advisory committee on IPEF is an eight-member committee which will take G Mahalingam, former Whole Time Member of SEBI, as its new Chairperson.
• In 2013, the committee was established by the SEBI to find out ways and means to best utilize the investor protection and education fund.
• Earlier the committee was headed by Abraham Koshy, former professor of Indian Institute of Management, Ahmedabad (IIM-A), Gujarat.

Q.8. Who has been appointed as the Chairman of Pfizer India?

Correct Answer is Pradip Shah.

• Pradip Shah is the ex-managing director and a founding member of Crisil.
• He has also served as a consultant to USAID, the World Bank, and the Asian Development Bank.

Q.9. Frank-Walter Steinmeier has been re-elected as President of which country for second term?

Correct Answer is Germany.

• He was elected with a big majority by a special assembly comprising of the members of lower house of parliament and representatives of 16 states of Germany.
• He became president in 2017.
• Before that, he served two stints as foreign minister of Chancellor Angela Merkel and as chief of staff to Chancellor Gerhard Schroeder.

Q.10. Who has been appointed as the President of Institute of Chartered Accountants of India (ICAI)?

Correct Answer is Debashis Mitra.

• Prior to this, he was serving as the Vice-President of The Institute of Chartered Accountants of India for 2021- 22.
• After being part of Central Council for 2016-19, he is serving his 2nd consecutive term for 2019-22.

Q.11. Who has been appointed as the brand ambassador of the agritech platform, Krishi Network?

Correct Answer is Pankaj Tripathi.

• The actor has also invested in the start-up.
• The start-up said the fresh funds would be used to expand their AI-based technology platform across India and grow rapidly.

Q.12. Paul-Henri Sandaogo Damiba has been declared as President of which country?

Correct Answer is  Burkina Faso.

• In the month of January, officers led by Damiba forced out the country’s elected president, Roch Marc Christian Kabore.
• The country has been suspended from the West African bloc ECOWAS, although it escaped sanctions following last week's restoration of the constitution.