Weekly Current Affairs (1st to 7th June 2022) - 1 - UPSC PDF Download

Banking & Financial Awareness

Q.1. According to the annual report data of the Reserve Bank of India, what is current the size of the central bank's balance sheet during 2021-22?

Correct Answer is Rs 61,90,302.27 crore.

• This shows activities carried out by it in pursuance of currency issue function as well as monetary policy and reserve management.
• Revenue has increased by 20.14% and expenditure rose by 280.13%.

Q.2. What is the net profit of Public sector banks (PSBs) during FY 2021-22?

Correct Answer is Rs 66,539 crore.

• The collective profit of banks during 2021-22 is Rs 66,539 crore with an increase of 110% over Rs 31,816 crore in FY21.
• SBI has the highest net profit at Rs 31,675 crore followed by Bank of Baroda (7,272 crores), and Canara Bank (Rs 5,678 crore).

Q.3. What is the Fiscal deficit of India for 2021-22?

Correct Answer is 6.71% of the GDP.

• The fiscal deficit in the absolute terms was Rs 15,86,537 crore (provisional).
• The finance ministry had estimated the deficit at Rs 15,91,089 crore or 6.9 percent of GDP in February 2022.

Q.4. SEBI has imposed a penalty of Rs 1 crore on which organization for misusing client fund?

Correct Answer is India Infoline Ltd (IIFL).

• The amount has to be paid by IIFL within 45 days.
• The penalty came after the SEBI's inspections of the books of account of IIFL for the period April 2011 to January 2017.
• It was found that IIFL had misused client funds in the range of Rs 0.59 crores to Rs 397.02 crores for settlement obligation of debit balance clients.

Q.5. What is the amount of GST has been collected by the Govt in May 2022?

Correct Answer is Rs 1.41 lakh crore.

• The government has collected Rs 1,40,885 lakh crore Goods and Services Tax (GST) revenue for the month of May 2022.
• The numbers have been surged 44% as against Rs 97,821 during the corresponding period of preceding fiscal year.

Q.6. What would be the FY23 economic growth forecast by the SBI?

Correct Answer is 7.5%

• SBI Research has estimated the growth of the Indian economy at 7.5% in 2022-23, an upward revision of 20 basis points from its earlier estimate.
• According to the official data, the economy will grow by 8.7% in FY22, net adding ₹11.8 lakh crore in the year to ₹147 lakh crore.

Q.7. How much has been released by the finance ministry to the states as part of the GST compensation dues?

Correct Answer is Rs 86,912 crore.

• The Centre has released the entire amount of GST compensation to states which were due up to May 31, 2022.
• Maharashtra has received the highest amount of GST compensation dues at Rs 14,145 crore, followed by Tamil Nadu (Rs 9,602 crore) and Uttar Pradesh (Rs 8,874 crore).

Q.8. Which organisation has launched the 2021-22 round of its annual survey on "Foreign Liabilities and Assets of Mutual Funds and Asset Management Companies"?

Correct Answer is RBI.

• The survey collects information from mutual fund companies and asset management companies on their external financial liabilities and assets at the end of March of the latest financial year.
• The survey results are released in the public domain besides being used for compilation of balance of payments statistics and other uses

Q.9. Which company has win the bid to build Jewar Airport?

Correct Answer is Tata Projects.

• It outbid the Shapoorji Pallinji Group and Larsen & Toubro for the contract.
• The new airport is expected to be functional by 2024.

Q.10. Which organisation has launched My Pad My Right programme in Leh?

Correct Answer is NABARD.

• This programme was launched by Nabard’s NabFoundation with machinery and materials of a cost of Seven and half Lakh rupees.
• NABARD also sanction One lakh (addition) to upgrade the machinery to make sanitary pads suitable to the demands of women of different age groups.

Q.11. Which General Insurance has launched a new health insurance vertical to focus on new innovative health products to boost customer experience?

Correct Answer is SBI General Insurance.

• The company will manage in-house servicing of all health insurance claims to deliver a superior and hassle-free customer experience.
• The company has recorded a 50% growth in gross written premium in 2021-22.

Q.12. The Reserve Bank of India (RBI) has released the provisioning guidelines for outstanding loans extended by 'NBFCUpper Layer', these guidelines shall be effective from?

Correct Answer is October 1, 2022.

• Individual housing loans and loans to Small and Micro Enterprises (SMEs) : 0.25%
• Housing loans extended at teaser rates: 2% (decrease to 0.4% after 1 year from the date on which the rates are raised.)
• Advances to Commercial Real Estate- Residential Housing (CRE - RH) Sector: 0.75%

Q.13. What is the theme of The Reserve Bank of India (RBI) first global hackathon – “HARBINGER 2021 – Innovation for Transformation”?

Correct Answer is Smarter Digital Payments.

• Tone Tag (brand of Naffa Innovations) has been declared the winner in two categories, first is 'Innovative, easyto-use, non-mobile digital payment solutions' and second is 'Context-based retail payments to remove the physical act of payment'.

Q.14. Which payment bank has partnered with Muthoot Finance to offer gold loans?

Correct Answer is Airtel Payments Bank.

• There will be no-processing charge on the loan.
• Muthoot Finance will provide up to 75% of the pledged gold value as a loan.
• The loan facility will be available at the 5 lakh banking points for Airtel Payments Bank.

Obituaries

Q.1. Renowned personality, Krishnakumar Kunnath, who passed away was related to which field?

Correct Answer is Singer.

• He is fondly known as KK, has passed away in Kolkata at the age of 53.
• His debut album 'Pal' was released in 1999.
• He has recorded songs in Hindi, Tamil, Telugu, Kannada, Malayalam, Marathi and Bengali, among other languages.

Q.2. Eminent personality Bhim Singh, who passed away was a?

Correct Answer is Politics.

• Founder of Jammu and Kashmir National Panthers Party, senior leader, and lawyer Bhim Singh passed away in Jammu at 81.
• He founded the Panthers Party in 1982.
• The veteran leader was known as ‘Sher-e-Jammu’ for raising the voice of the people of Jammu before the Kashmir-centric governments.

Q.3. Anjalai Ponnusamy, who passed away was related a?

Correct Answer is Freedom fighter.

• Indian National Army (INA) veteran solider from Malaysia
• She was born in 1920 in Sentul, Kuala Lumpur.
• She belonged to the Jhansi Rani Division of the Indian National Army.

Q.4. Renowned personality, Bhajan Sopori, who passed away was a famous?

Correct Answer is Santoor player.

• He was popularly known as the 'saint of santoor' and 'king of strings' has passed away at 73 due to cancer.
• He has received Padma Shri in 2004, the Sangeet Natak Akademi Award in 1992 and the Jammu and Kashmir State Lifetime Achievement Award.
• He belonged to north Kashmir's Sopore district and came from the 'Sufiana Gharana'.

Important Days

Q.1. World Bicycle Day is observed on which date every year to spread awareness about the benefits of using a bicycle?

Correct Answer is June 3.

• The United Nations had passed an resolution in 72nd Regular Session of the United Nations General Assembly to celebrate World Bicycle Day on June 3.

Q.2. World Environment Day is observed globally on which date every year?

Correct Answer is 5th June.

• 2022 marks the 50th World Environment Day and host by Sweden.
• Nodal agency: United Nations Environment Programme (UNEP).
• Theme of World Environment Day 2022 is ‘Only One Earth’.

Q.3. The World Food Safety Day is observed annually on which date to raise awareness of the health hazards associated with unsafe food, and to highlight the significance of hygiene in daily life?

Correct Answer is June 7.

• Theme 2022: ‘Safer food, better health’.
• This day was marked by the United Nations General Assembly (UNGA) on December 20, 2018.

New Appointments

Q.1. Who has been appointed as a managing director and CEO of National Assets Reconstruction Company Ltd (NARCL)?

Correct Answer is Natarajan Sundar.

• He has served SBI for over 37 years and retired as Deputy MD and Chief Credit Officer of the bank on April 2022.

Q.2. Who has been appointed as the Director General of National Informatics Centre (NIC) under the Ministry of Electronics & Information Technology (MeitY) with effect from 31st May 2022?

Correct Answer is Rajesh Gera.

• Earlier, he was on deputation in the Ministry of Defence as CEO, DPIT and joined back NIC as Deputy Director General.

Q.3. Who has been appointed as the first Indian-origin woman as an external member of the Bank of England's interest rate-setting committee?

Correct Answer is Dr Swati Dhingra.

• She is an Associate Professor of Economics at the London School of Economics (LSE) and having a specialisation in international economics and applied microeconomics.
• She will join the Monetary Policy Committee (MPC) on August 9, 2022 for a three-year term.

Q.4. Who has been appointed as new directors general of the Bureau of Civil Aviation Security (BCAS)?

Correct Answer is Zulfiquar Hasan

• S L Thaosen as the directors general of the Sashastra Seema Bal (SSB) respectively.
• Hasan is a West Bengal-cadre IPS officer and now serving as the special director general of the Central Reserve Police Force (CRPF) in Delhi.
• Thaosen is a Madhya Pradesh-cadre IPS officer and working in the same capacity in the Border Security Force (BSF).

Q.5. Who remains as the Goodwill Ambassador UNICEF, working for the welfare of underprivileged children?

Correct Answer is Sachin Tendulkar.

• He has been associated with UNICEF for long for various causes.
• He was chosen to take lead in the initiative to create awareness and promote polio prevention in India in 2003.

Q.6. Who has been appointed as a MD of Union Bank of India for the period of three years with effect from the date of assumption of office?

Correct Answer is A Manimekhalai.

• She has replaced Rajkiran Rai G, who retired on May 31 after a five-year stint.
• She also becomes the first woman managing director of Union Bank of India.
• Government has also appointed Swarup Kumar Saha as head of Punjab & Sind Bank.
• He replaced S Krishnan, who also superannuated on May 31.

Q.7. Who has been appointed as a brand ambassador of Garuda Aerospace company?

Correct Answer is Mahendra Singh Dhoni.

• Garuda Aerospace is among the four drone startups that had been selected by Swiggy for a pilot project which involve carrying out supply runs for its grocery service Instamart.