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

Banking & Financial Awareness

Q.1. What is the Retail inflation in India in March 2022?

Correct Answer is 6.95%.

• Retail inflation in India in February month was 6.07%. Inflation is based on Consumer Price Index (CPI) increased sharply due to rising food and oil prices.
• As per the Ministry of Statistics and Programme Implementation data, the inflation in the food basket was 7.68% in March which is up from 5.85% in February 2022.

Q.2. Which payment bank has approved a minority strategic investment in fintech Paysprint Pvt Ltd of up to 12.19%?

Correct Answer is  Fino Payments Bank.

• Paysprint is a rapidly growing financial technology company which is offering next-generation APIs in the areas of insurance, investment, banking, payments, and more.
• The partnership will transform the digital banking space in coming days.

Q.3. Which bank has celebrated its 128th Foundation Day on April 12, 2022?

Correct Answer is Punjab National Bank.

• On the occasion of foundation day, MD & CEO of PNB, Atul Kumar Goel has launched a cardless cash withdrawal service and a virtual debit card for its customers.
• Bank also launched various services on its mobile app named PNB One for safe banking transactions.
• The bank was founded by eminent freedom fighter Lala Lajpat Rai.

Q.4. What would be India's GDP forecast for the fiscal year 2022-23 by World Bank?

Correct Answer is 8%.

• Worsening supply bottlenecks and rising inflation risks which were caused by Russia's invasion of Ukraine
• World Bank also cut a full percentage point of the growth outlook for South Asia to 6.6% (excluding Afghanistan).

Q.5. Up to which percent the government has amended the rules of the Foreign Exchange Management Act (FEMA) to open the way for Foreign Direct Investment (FDI) in the Life Insurance Corporation of India (LIC)?

Correct Answer is up to 20%.

• The government is also planning to dilute its stake in LIC through the Initial Public Offering (IPO).
• SEBI has also given approval to the draft papers and the insurer is in the process of filing a request for a proposal with changes.

Q.6. How much amount has been invested by the government in NICL, OICL, UICL insurance companies?

Correct Answer is ₹5,000 crores.

• ₹3,700 crores in NICL, ₹1,200 crores in OICL, and Rs 100 crores in UICL.
• This authorized capital will be used to subscribe to the share capital of the respective public sector general insurance companies and issuance of shares to the Centre against the subscription.
• The three state-owned general insurers that cover 20% market share have been unprofitable.

Q.7. Which payment app has come up in a partnership with internet exchange point, Extreme IX to enable faster digital payments?

Correct Answer is PhonePe.

• This partnership helps PhonePe to decrease the latency for its users irrespective of their location or ISP in India.
• PhonePe has become the first digital payments platform to participate in an Internet Exchange in India.

Q.8. Which Cryptocurrency lender has joined hands with global payments company Mastercard to launch the world's first "crypto-backed" payment card?

Correct Answer is Nexo.

• Electronic money firm Di Pocket is Nexo's card issuer. Interest remains at 0% for customers who maintain a loan-to-value ratio of 20% or below.
• This move by crypto and incumbent financial networks forces digital assets to become more mainstream. Initially, The card will be available in selected European countries.

Q.9. Which bank has raised 3-year funds of $500 million through a syndicated loan facility at “very fine pricing” through its IFSC Gift City branch?

Correct Answer is State Bank of India (SBI).

• This is the first offshore USD Secured Overnight Financing Rate (SOFR) linked syndicated loan raised by SBI through its Gift City branch.
• MUFG, Bank of America, and JP Morgan were the Joint lenders for this offering.

Q.10. According to the World Bank, what would be the global growth forecast for 2022?

Correct Answer is  3.2%.

• Due to the impacts of Russia's invasion of Ukraine.
• The reason for lowering the projection is that people are facing reduced commercial activity and trade, and the debt crisis and currency depreciations have placed a heavy burden on the poor.
• The world is also facing reversals in development in education, health, and gender equality.

Q.11. What is the Wholesale Price Index (WPI) based inflation in India for the month of March 2022?

Correct Answer is 14.55%.

• In February, WPI inflation was 13.11% on the hardening of prices of crude oil and non-food items.
• The WPI food index has increased from 8.47% in February to 8.71% in March.
• The food index includes food articles from the primary group and food products from the manufactured products group.

Q.12. What is the Large exposure lending limit set by the Reserve bank of India(RBI) for the Upper layer of NBFC?

Correct Answer is must not exceed 20% of its capital base.

• Board can allow an additional 5%.
• NBFCs that are into infrastructure finance can have exposure of 25%, with an option of an additional 5% of Tier I capital to a single counterparty. Norms will come into effect from October 1, 2022.

Q.13. How much percent stakes will be sold by the HDFC in HDFC Capital Advisors to a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) to raise funds of Rs 184 crore?

Correct Answer is 10% stake.

• ADIA is an important investor in the alternative investment funds managed by HDFC Capital.
• HDFC Capital was set up in 2016 as the investment manager for HDFC Capital Affordable Real Estate Funds 1, 2 and 3.

Q.14. Who is the head of the advisory committee on enhancing the regulator's technology capacity and on exploring appropriate technological solutions for early detection of market anomalies by SEBI?

Correct Answer is Sunil Bajpai.

• The seven-member committee was set up in December 2021 and was earlier chaired by Madhabi Puri Buch.

Obituaries

Q.1. Manju Singh has passed away, was related to which field?

Correct Answer is Acting (Television actress).

• She was one of the pioneers in Indian television industry and was fondly remembered as didi
• She was the anchor of children's program, Khel Khilone for 7 years.

Q.2. Prafulla Kar has passed away, was related which filed?

Correct Answer is Singing, Odia singer and music director.

• An eminent musician, singer, lyricist, writer and columnist was born on February 16, 1939 in Puri.
• He received Padma Shri award (2015), and Jayadeva award (2004).

Q.3. Vishwa Deenadayalan died in a road accident, was related to which sports?

Correct Answer is Table Tennis.

• He was travelling with three teammates for the 83rd Senior National and Inter-State Table Tennis Championships, which is scheduled to begin.
• Haryana Deputy Chief Minister Dushyant Chautala offer his condolence on his death and announced Rs 5 lakh as compensation for his family.

Important Days

Q.1. World Art Day is observed on which date?

Correct Answer is April 15.

• This day is being celebrated to emphasize the importance of art that nurtures creativity, innovation and cultural diversity for all peoples across the globe.
• The day was declared by the International Association of Art (IAA), an NGO working in official partnership with UNESCO

Q.2. World Voice Day (WVD) is observed every year on which date?

Correct Answer is April 16.

• To demonstrate the enormous importance of the voice in the daily lives of all people.
• Theme of World Voice Day 2022: Lift Your Voice.
• Voice care specialists’ group in Brazil started the World Voice Day celebrations.

Q.3. Save the Elephant Day is observed every year on which date?

Correct Answer is April 16.

• To raise awareness about the dangerelephants face and various difficulties they have to overcome to live.
• It is established by Thailand-based Elephant Reintroduction Foundation

Q.4. World Hemophilia Day is observed every year on which date?

Correct Answer is April 17.

• To raise awareness about the bleeding disorder and bring it to the attention of policymakers
• Theme 2022: Access for All: Partnership. Policy. Progress
• April 17 was chosen to commemorate the birthday of Frank Schnabel, the founder of the World Federation of Hemophilia.

Q.5. The International Day for Monuments and Sites is observed which date?

Correct Answer is April 18.

• Aim to promote culture and heritage. ICOMOS proposed April 18 as the International Day for Monuments and Sites in 1982.
• The theme for World Heritage Day 2022 is Heritage and Climate.
• 40 Indian sites are designated as UNESCO World Heritage Sites.

Q.6. World Liver Day is observed on which date annually?

Correct Answer is April 19.

• The day is observed is to raise awareness about liver-related disorders and diseases.
• According to the World Health Organisation (WHO) report, Every 10th person is dying due to Liver ailments disease in India.
• The liver controls blood sugar, helps blood clot, removes toxic substances from the body, and controls cholesterol levels.

Q.7. UN Chinese Language Day is observed globally on which date?

Correct Answer is 20th April.

• The day has been chosen to pay tribute to Cangjie (a mythical figure) who is presumed to have invented Chinese characters about 5,000 years ago.
• The event was established by the UN Department of Public Information in 2010

Q.8. National Civil Services Day is observed on which date?

Correct Answer is April 21.

• To mark the efforts of the civil servants working tirelessly and relentlessly in different departments to ensure that the administrative machinery works smoothly in India.
• The first National Civil Services Day was observed in 2006.
• The Prime Minister’s Excellence Award in Public Administration is also presented to the civil servants.
• Father of the Indian Civil Service: Lord Cornwallis

Q.9. World Creativity and Innovation Day is observed on which date?

Correct Answer is April 21.

• The theme of World Creativity and Innovation Day 2022: Collaboration.
• Canadian Marci Segal founded World Creativity and Innovation Day on 25 May 2001 in Toronto, Canada.

New Appointments

Q.1. Who has been appointed as a chairman of India Pulses and Grains Association (IPGA)?

Correct Answer is  Bimal Kothari.

• He replaced Jitu Bheda who stepped down as the current chairman.
• He is the third chairman of the association after Pravin Dongre and Jitu Bheda.
• Kothari joined IPGA as Vice-Chairman in 2011, when it was formed.

Q.2. Who has been appointed as USA Vice President Kamala Harris's Defence Adviser?

Correct Answer is  Indian-American Navy Shanti Sethi.

• Shanti Sethi is the first Indian-American commander of a major US Navy combat ship.
• Shanti Sethi commanded the guided-missile destroyer, USS Decatur, from December 2010 to May 2012.

Q.3. Who has been appointed as MD and CEO of Digit Insurance?

Correct Answer is Jasleen Kohli.

• She succeeds Vijay Kumar who retired from the company on April 19, 2022.
• She served as chief distribution officer (CDO) at Digit, where she was responsible for all of the company's sales and distribution channels.

Q.4. Who has been appointed as a brand ambassador of Lloyd, a consumer durable brand of Havells India for eastern markets of India?

Correct Answer is Sourav Ganguly.

• Sourav will endorse Lloyd range of consumer durables, through promotion, advertising and marketing.
• Ganguly is currently the president of BCCI.

Q.5. Who has been appointed as the 29th Chief of Army Staff?

Correct Answer is Lieutenant General Manoj Pande.

• The appointment will come into effect on April 30, 2022.
• He will succeed General M M Naravane on May 1.
• He will be the first officer from the Corps of Engineers to become the COAS.

Q.6. Who has been appointed as chairman of Atomic Energy Commission?

Correct Answer is Kamlesh Nilkanth Vyas.

• The Appointment Committee of the Cabinet has granted one-year extension to Kamlesh Nilkanth Vyas.
• The extension in service to Vyas for a period of one year beyond May 3, 2022 or "until further orders".
• This is the second extension for Vyas, he was first appointed to the post in September 2018.

Q.7. Who has been appointed as IT giant Wipro country head for India?

Correct Answer is Satya Easwaran.

• Strengthening Wipro business in India across important industry sectors through strategic consulting, transformation, and modernization engagements.
• He will help clients leverage Wipro’s capabilities and investments in engineering R&D, data/analytics, cloud, digital, and cybersecurity.

Q.8. Who has been reappointed as Prime Minister of Ivory Coast by President Alassane Ouattara?

Correct Answer is PM Patrick Achi.

• He was appointed prime minister in March 2021. On April 13, 2022, President has accepted Achi resigned ahead of a government reshuffle.
• He was the third prime minister in the West African state (Ivory Coast) in the last three years after Amadou Gon Coulibaly (who died in 2020) and Hamed Bakayoko (who died in 2021).