Weekly Current Affairs (22nd to 28th February 2022) Part - 1 - UPSC PDF Download

Banking & Financial Awareness

Q.1. Which bank and the Indian Railway Catering and Tourism Corporation Limited (IRCTC) have launched a co-branded contactless credit card?

Correct Answer is Bank of Baroda.

• The card offers maximum savings to frequent railway travellers and the card users will also get multiple benefits for shopping across other categories like groceries, fuel etc.
• The card provides 1% transaction fee waiver for the customers on all train ticket bookings and 1% offer as fuel surcharge waiver across all petrol pumps in India.
• Customers will be provided with 1,000 bonus reward points for purchase worth Rs.1,000 or more within 45 days of card issuance.

Q.2. Which bank has signed a Memorandum of Understanding (MoU) with Assam Rifles to provide 'Central Forces Salary Package'?

Correct Answer is Bank of Baroda.

• Under the agreement, Bank of Baroda will offer the Baroda Central Forces Salary Package to all personnel of the Assam Rifles, both serving and retired.
• Further, the Bank will also provide special benefits, including Personal Accident Insurance and a co-branded credit card.
• Assam Rifles is country's oldest paramilitary force.

Q.3. Which power company has collaborated with Germany-based RWE Renewable GmbH to explore potential for a joint development of offshore wind projects in India?

Correct Answer is Tata Power Renewable Energy.

• A corresponding MoU has been signed between Tata Power Renewable Energy Ltd and RWE Renewables GmbH, one of the world's leaders in offshore wind.
• The MoU between Tata Power Renewable Energy and RWE becomes significant in the light of the Central govt’s announcement of achieving 30GW of offshore wind installations by 2030.

Q.4. Which telecom company has joined the SEA-ME-WE-6 undersea cable consortium to scale up its high-speed global network capacity to serve India’s fast growing digital economy?

Correct Answer is Bharti Airtel.

• The 19,200 Rkm SEA-ME-WE-6 will connect Singapore and France, and will be amongst the largest undersea cable systems globally.
• Through SEA-ME-WE-6, Airtel will add 100 TBps capacity to its global network.
• Airtel will land the SEA-ME-WE-6 cable system in India at new landing stations in Mumbai and Chennai.

Q.5. According to India Ratings, what is the estimated GDP growth rate of India for FY 2021-22?

Correct Answer is 8.6 percent.

• The National Statistical Organisation (NSO), which has forecast 9.2 per cent real GDP growth for the year.
• The major reason for the likely downward revision is the upward revision of FY21 GDP to Rs 135.6 lakh crore in the first revised estimate of national income for FY21, which was released on January 31, 2022.

Q.6. Which bank has collaborated with the Indore Clean Energy Private Ltd for the development of 550 tonnes/day of Municipal Solid Waste to Compressed Biogas plant - the largest Bio-CNG plant in Asia?

Correct Answer is HDFC Bank.

• Indore Clean Energy Pvt Ltd (ICEPL) is promoted by Green Growth Equity Fund (GGEF), which is the largest climate impact fund in India with anchor investors like NIIF & Government of UK.
• Earlier on February 19, 2021, Prime Minister Narendra Modi virtually inaugurated the municipal solid waste based Gobar-Dhan plant and dedicated it to the citizens of Indore City, Madhya Pradesh.

Q.7. Which general insurer has joined hands with Ashv Finance, a tech-led NBFC present in over 100 locations in India, to offer financial protection to latter's business loan borrowers?

Correct Answer is Edelweiss General Insurance.

• Under this, EGI will utilize Ashv Finance reach of small business owners across India and offer them easy and friendly, tech powered solutions, coupled with superior customer experience.
• Ashv will offer timely credit to small businesses and MSMEs (Micro, Small & Medium Enterprises) while EGI will provide health insurance cover to all the customers of Ashv Finance in all major cities across the country.

Q.8. TripMoney, the fintech arm of MakeMyTrip has partnered with which bank to launch a rupee-denominated secure credit card?

Correct Answer is SBM Bank.

• “The TripMoney Global card offers multiple value-added benefits including zero forex mark-up, lifetime free validity and 100 per cent digital in-app card management.
• The card is powered by Visa and can be used across over 150 countries.

Q.9. By which date and year the RBI has asked the certain class of NBFCs to mandatorily implement 'Core Financial Services Solution (CFSS)' in order to provide seamless customer interface as well as have a centralised data base?

Correct Answer is September 30, 2025.

• The RBI has decided that NBFCs – Middle Layer and NBFCs – Upper Layer with 10 and more 'fixed point service delivery units' as on October 1, 2022 shall be mandatorily required to implement CFSS.
• CFSS is akin to the Core Banking Solution (CBS) adopted by banks.

Q.10. As per Moody’s Investor Services, what is the estimated GDP growth forecast for India in the calendar year 2022?

Correct Answer is 9%.

• It maintained a forecast for 5.5 per cent growth in CY2023.
• In its update on Global Macro Outlook 2022-23, Moody's said sales tax collection, retail activity and Purchasing Managers Index suggest solid momentum.

Q.11. The Reserve Bank of India (RBI) has approved the re-appointment of Rakesh Sharma as Managing Director and Chief Executive Officer of which of the following banks?

Correct Answer is IDBI Bank.

• This re-appointment is as per approval of the Reserve Bank of India received in this regard.
• He was previously appointed as the MD & CEO of the bank in October 2018.

Q.12. Which bank in association with National Payments Corporation of India (NPCI), launched ‘MSME RuPay Credit Card’ for meeting business related operational expenses of Micro, Small & Medium Enterprises (MSMEs)?

Correct Answer is Union Bank of India.

• It is a first of its kind initiative to provide simplified and digital delivery of Finance to Micro, Small & Medium Enterprises (MSMEs), to meet their business-related operational expenses.
• This dedicated card for MSMEs will be available to eligible borrowers of Union Bank of India.

Q.13. Which bank has partnered with International Air Transport Association (IATA) to launch payment platform ‘IATA Pay’ for airline industry in India?

Correct Answer is Standard Chartered.

• IATA Pay’s rollout will enable participating airlines to offer instant payment options like UPI Scan and Pay.
• Service leverages Unified Payment Interface (UPI), enabling consumers to instantly pay for airline tickets from bank accounts.

Q.14. Which will become first multilateral agency to open an office in Gujarat International Finance Tech City (Gift)?

Correct Answer is New Development Bank.

• NDB has received approval for the same and will open the office in May 2022 in GIFT City.
• NDB announced Director General position for India Regional Office and will be responsible for originationimplementation of operations in India.

Q.15. In a bid to boost the production of biofuel in the country to curb carbon emissions, among others, agri co-op giant NAFED signed an MoU with?

Correct Answer is Indian Oil Corporation (IOC).

• The MoU was signed to set-up Bio-fuel projects, Plants for post-processing of products viz Cattle feed & Marketing of end products of CBG.
• The project will benefit Farmers, communities, and Environment in the region & contribute to Hon.
• PM vision 2021 for making India a ‘Net Zero Emission Country by 2070.

Q.16. Which payments bank has become an official acquiring partner for e-RUPI vouchers, further making it accessible at offline stores across the country?

Correct Answer is Paytm Payments Bank Limited.

• e-RUPI, which is a government initiative, is a cashless prepaid voucher that beneficiaries can present via SMS or QR Code. Paytm’s merchant partners can then scan, enter the amount to be paid and receive the payment directly in their bank account.
• This will benefit beneficiaries (users), even those who do not have access to formal banking services or smartphones to avail the convenience of digital payments.

Q.17. The Reserve Bank of India (RBI) has cancelled the certificate of registration issued to?

Correct Answer is PC Financial Services Pvt Ltd.

• Accordingly, PC Financial Services will not be able to transact the business of a NBFI (Non-Banking Financial Institution).
• PC Financial Services was primarily engaged in mobile app-based lending operations through an app called ‘Cashbean’.

Obituaries

Q.1. Renowned personality KPAC Lalitha passed away recently she was a noted?

Correct Answer is Actress.

• She acted in over 500 films in Malayalam and Tamil in her career spanning around five decades
• She won the national award for Best Supporting Actress for her performance in Malayalam film 'Amaram' and 'Santham'.

Q.2. Renowned personality Hemananda Biswal passed away recently, he was former chief minister of which state?

Correct Answer is Odisha.

• He was the first tribal chief minister of Odisha.
• Mr. Biswal was elected chief minister for the first time for the period December 7, 1989, to March 5, 1990, and again from December 6, 1999, to March 5, 2000.

Important Days

Q.1. World Thinking Day is celebrated every year on which date?

Correct Answer is 22nd February.

• The day is observed to think about fellow brothers and sisters around the world, address their concerns and understand the true meaning of guiding.
• The theme for World Thinking Day 2022 is Our World, Our Equal Future.

Q.2. Central Excise Day is celebrated every year on which date across India?

Correct Answer is 24th February.

• In India, the Central Board of Indirect Taxes and Customs (CBIC) is responsible for administering Customs, Goods, and Service Tax (GST), Central Excise, Service Tax, and Narcotics in India.

Q.3. What is the theme of the National Protein Day 2022?

Correct Answer is Food Futurism.

• National Protein Day is observed every year in India on 27th February to create awareness about protein deficiency and encourage people to include of this macronutrient in their diet.
• The day was introduced for the first time in 2020, by the ‘Right to Protein’, a national-level public health awareness initiative to educate people about the importance of adequate protein consumption for better nutrition, health, and wellbeing.

Q.4. World NGO Day is celebrated every year on?

Correct Answer is 27th February.

• It is an international day to recognise, celebrate and honour non-government and non-profit organisations and also those who contribute their time and efforts in making society a better place to live in.

Q.5. National Science Day is celebrated every year on which date?

Correct Answer is 28th February.

• On this day, Indian Physicist Sir C.V. Raman announced the discovery of the ‘Raman Effect’ for which he was awarded the Nobel Prize in 1930.
• In 1986, Government of India designated 28 February as National Science Day.
• This year the theme of the National Science Day is- Integrated Approach in Science and Technology for Sustainable Future.

Q.6. The Rare Disease Day is celebrated every year on which date?

Correct Answer is Last day of February (28th Feb 2022).

• The Rare Disease Day (RDD) is observed every year on the last day of February. This year in 2022 it falls on February 28, 2022.
• Theme 2022: “Share Your Colors.”

New Appointments

Q.1. Who has been appointed as the Chief Financial Officer (CFO) of Jet Airways?

Correct Answer is Vipula Gunatilleka.

• His appointment is made by new promoters of Jet Airways, Jalan Kalrock Consortium.
• He was the CEO of SriLankan Airlines till January 2022.
• He was also the CFO and board member of TAAG Angola Airlines from November 2015 to July 2018 under Emirates Management.

Q.2. Who has been appointed as the new President and CEO of Honda Cars India Ltd (HCIL) with effect from April 1, 2022?

Correct Answer is Takuya Tsumura.

• He was in-charge of South Asian countries including India from 1997 to 2000 while working at head office of Honda.
• He will succeed Gaku Nakanishi, who has been appointed as General Manager, Automobile Business of Asian Honda (Regional office-Bangkok, Thailand).
• Honda Cars India Ltd was established in 1995.

Q.3. Emma Terho belongs to which country, who has been re-elected as the Chair of the International Olympic Committee (IOC) Athletes’ Commission (AC)?

Correct Answer is Finland.

• She is a double Olympic bronze medallist and former captain of the Finland women’s ice hockey team.
• She was appointed as the Chair of the Commission on August 06, 2021, for the first time during Olympic Games Tokyo 2020.

Q.4. Who has been appointed as the Chairman of the International Rubber Study Group (IRSG) for a period of two years?

Correct Answer is K.N. Raghavan.

• Raghavan is currently the Executive Director of Indian Rubber Board and Head of the Indian delegation to IRSG.
• India has taken over the chair of the IRSG from Cote d’Ivoire.
• IRSG is an intergovernmental organisation of natural rubber (NR) and synthetic rubber (SR) producing and consuming countries.

Q.5. Who has been appointed as the brand ambassador for Thums Up?

Correct Answer is Sharukh Khan.

• Earlier this month, The Coca-Cola Company announced that the home-grown Thums Up brand became a billion-dollar brand in 2021—the first to reach the milestone from its portfolio of drinks in India.
• The new campaign has been launched to mark this key milestone.

Q.6. Who has been appointed as the member of Central Advisory Board on Culture (CABC) by Ministry of Culture?

Correct Answer is Sudha Ragunathan.

• CABC established to provide policy advice to Ministry of Culture on developing programmes.
• CABC Presided over by Minister of Culture of the Government of India.
• CABC’s member provide policy advice, along with aiding participative decision-making and provide an integrated view of the different ideas and interests from various domains of culture.

Q.7. Who has been appointed as a full-time member of the Economic Advisory Council to the Prime Minister (EACPM)?

Correct Answer is Sanjeev Sanyal.

• Sanyal, who is currently serving as the Finance Ministry's principal economic adviser, had been working since the 1990s with the financial markets.
• His addition to the EAC-PM is expected to aid the top advisory body.

Q.8. Who has been appointed as the as the Non-Executive Chairman of the FMCG major Hindustan Unilever Ltd (HUL) with effect from March 31, 2022?

Correct Answer is Nitin Pranjape.

• The FMCG major has announced the appointment of Nitin Paranjpe, currently chief operating officer of Unilever, as the non-executive chairman of the company.
• Sanjiv Mehta will continue as CEO & MD.

Q.9. Who has been appointed as the Brand Ambassador of Dish TV India Limited’s DTH brand D2H?

Correct Answer is Rishabh Pant.

• Pant will feature in 360-degree brand communication for D2H for the next two years.
• Dish TV India Limited is a direct-to-home (DTH) company with brands such as Dish TV, Zing and D2H under its ownership.