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

Banking & Financial Awareness

Q1. Which organization has agreed to invest $50 billion over the next 10 years in India to produce green hydrogen with TotalEnergies SE?

Correct Answer is Adani Group.

• TotalEnergies will buy 25% in a new clean energy company, Adani New Industries Ltd, a unit of Adani Enterprises Ltd, to jointly build the world’s biggest green hydrogen ecosystem.
• In the initial phase, Adani New Industries will develop a green hydrogen production capacity of 1 million tonnes per annum by 2030.

Q.2. Name the financial wellness platform which has launched an industry-first credit line service using its AI-powered chat capability on WhatsApp?

Correct Answer is CASHe.

• Aim: to provide customers with a fast, seamless and convenient way to access instant credit line by merely typing their name.
• CASHe’s WhatsApp chat service is built on the WhatsApp Business Platform.

Q.3. What is the retail inflation based on the Consumer Price Index in May 2022?

Correct Answer is 7.04%.

• As the Food and Beverages have a weightage of more than 54% in CPI, the dip in food prices contributed the most to the ease in inflation.
• Rural inflation lowered to 7.01% in May as compared to 8.38% in April.

Q.4. Which bank has signed an MoU with 100X.VC to enhance its engagement with the start-up ecosystem in the country?

Correct Answer is HDFC Bank.

• The bank will also assess start-ups for investment and loan extension opportunities which are recommended by 100X.VC.

Q.5. Which bank has signed BRICS Partnership on New Industrial Revolution (PartNIR) Innovation Center to facilitate bilateral cooperation and promote the common development of BRICS countries?

Correct Answer is New Development Bank (NDB).

• The MoU was signed at a meeting held via video link in the port city of Xiamen, East China’s Fujian Province.
• BRICS is the acronym for Brazil, Russia, India, China and South Africa.

Q.6. What is the name of the exclusive savings account for kids which was launched by the Equitas Small Finance Bank?

Correct Answer is ENJOI.

• The ENJOI allow kids of 0-18 years to open savings accounts under the supervision of their parents.
• The bank offers 7% interest for savings balances between ₹5 lakh to ₹2 crore.

Q.7. The Reserve Bank of India (RBI) lifted the restrictions imposed on which card company on June 16 citing improvement compliance?

Correct Answer is Mastercard.

• The RBI had imposed restrictions on Mastercard Asia/Pacific Pte. Ltd. from on-boarding new domestic customers (debit, credit or prepaid) onto its card network from July 22, 2021.
• Reason of restriction: For non-compliance with the RBI circular dated April 6, 2018, on Storage of Payment System Data.

Q.8. Which state has replaced West Bengal to become the largest state in terms of the outstanding portfolio of microfinance loans?

Correct Answer is Tamil Nadu.

• It was followed by Bihar (₹35,941 crores) and West Bengal (₹34,016 crores).
• The gross loan portfolio of Tamil Nadu as of March 31, 2022 stood at ₹36,806 crore, as per the MFIN Micrometer Q4 FY21-22, a quarterly report published by Microfinance Institutions Network.

Q.9. Canara, HSBC, and Oriental Bank of Commerce Life Insurance have rebranded and renamed itself as Canara HSBC Life Insurance. Where is the HQ of Canara Bank?

Correct Answer is Bengaluru.

• They launched its first brand campaign #PromisesKaPartner aligned to its new positioning - ‘Powering India to re-imagine their dreams and aspirations.

Q.10. By which year, RBI increase the number of digital payment transactions by more than 3X and to curb the volume of cheque-based payments to less than 0.25% of total retail payments?

Correct Answer is 2025.

• Core theme of vision documents: E-Payments for Everyone, Everywhere, Everytime (4Es)
• It covers 47 specific initiatives and 10 expected outcomes

Q.11. After revising the Additional Factor of Authentication (AFA) limit for e-mandates on cards, Prepaid Payment Instruments (PPIs), and UPI for recurring transactions by RBI what is the new limit?

Correct Answer is Rs 15,000 per transaction.

• An e-mandate means, that the cardholder gives a standing instruction to the merchant platform to deduct a certain amount of money for recurring transactions.

Q.12. Which credit rating organisation has revised the rating outlook of nine Indian banks which include SBI, ICICI Bank and Axis Bank, from negative to stable?

Correct Answer is Fitch Ratings.

• The other banks are: Bank of Baroda (BOB), Bank of Baroda (New Zealand) Ltd, Bank of India, Canara Bank, Punjab National Bank (PNB) and Union Bank of India.

Q.13. Which General Insurance Company Limited has partnered with PhonePe Insurance Broking Services Pvt. Ltd (PhonePe) to offer motor insurance on the PhonePe platform?

Correct Answer is  Kotak Mahindra.

• With the help of this platform, Kotak General Insurance will provide quick and seamless car and two-wheeler insurance policies to its customers.

Q.14. Along with ICICI Bank, HDFC Bank, which organisation IT resources has been identified as a ‘critical information infrastructure' by the Union Ministry of Electronics and IT (MeitY)?

Correct Answer is  NPCI.

• The government has the power to declare any data, database, IT network or communications infrastructure as CII to protect that digital asset as per the IT Act of 2000.
• Any person who secures access to a protected system in violation of the law can be punished with a jail term of up to 10 years.

Q.15. Which company has joined hands with National Bank for Agriculture and Rural Development (NABARD) to activate ecommerce in the agriculture domain?

Correct Answer is Open Network for Digital Commerce.

• ONDC and NABARD have come together to host the NABARD-ONDC Grand Challenge to establish market linkages for the enabled players with market-ready Farmers Producers Organisations.
• Aim: To promote the development of innovative solutions that are likely to aid the adoption of e-commerce in the agriculture domain.

Q.16. Which life insurance company has launched Dhan Sanchay, a non-linked, non-participating, individual savings life insurance plan?

Correct Answer is The Life Insurance Corporation of India (LIC).

• This plan offers financial assistance to the family in the event of the life assured's untimely death within the policy's term.
• It also offers a guaranteed income stream from the date of maturity until the end of the payout period.

Obituaries

Q.1. Professor Gopi Chand Narang, who passed away was an eminent critic, theorist and linguists in which language?

Correct Answer is Urdu.

• He has been honoured with the Padma Bhushan (2004) and Sahitya Akademi Awards (1995).
• He was a Professor Emeritus at the University of Delhi and Jamia Millia Islamia.

Important Days

Q.1. World Wind Day, also known as Global Wind Day, is observed on which date?

Correct Answer is 15th June.

• Wind Europe (Brussels) initiated the Global Wind Day in 2007.
• Global Wind Day 2022 is based on the theme is celebrate to enjoy the benefits of Wind energy and providing education to individuals about the power and potential of wind energy to change the world.

Q.2. World Elder Abuse Awareness Day is observed on which date?

Correct Answer is June 15.

• To raise awareness about abuse and neglect of older persons.
• This year’s theme of World Elder Abuse Awareness Day 2022 is “Combatting Elder Abuse”.

Q.3. National Reading Day is observed annually on which date?

Correct Answer is 19 June.

• Observed in honour of P N Panicker who is considered as the Father of Kerala's Library and Literacy Movement.
• This day was first celebrated on June 19, 1996, by the Government of Kerala in association with the P N Panicker Foundation, National Reading Day, became a mass movement to promote literacy and the culture of reading in the state.

Q.4. World Refugee Day is observed annually on which date to highlight the difficulties faced by refugees?

Correct Answer is June 20.

• 2022 theme: Whoever, Whatever, Whenever. Everyone has a right to seek safety.

Q.5. The International Day for the Elimination of Sexual Violence in Conflict is an international event conducted by the United Nations (UN) on which date?

Correct Answer is June 19.

• The theme 2022: ‘Prevention as Protection: Enhancing structural and operational prevention of conflict-related sexual violence.’

Q.6. The world observes Sustainable Gastronomy Day is observed on which date?

Correct Answer is 18 June.

• The objective of this day is to recognize the practices associated with sustainable food consumption, especially with the art of collecting and preparing the food we eat.

Q.7. International Day for Countering Hate Speech falls on which date?

Correct Answer is June 18.

• In July 2021, the UN General Assembly highlighted global concerns over “the exponential spread and proliferation of hate speech” around the world and adopted a resolution on “promoting inter-religious and intercultural dialogue and tolerance in countering hate speech”.

Q.8. The World Day to Combat Desertification and Drought is observed on which date each year to promote public awareness of international efforts to combat desertification?

Correct Answer is 17 June.

• The theme of 2022 Desertification and Drought Day “Rising up from drought together”.

Q.9. The International Day of Family Remittances (IDFR) was adopted by the United Nations General Assembly and is observed on which date?

Correct Answer is 16 June.

• Theme 2022: recovery and resilience through digital and financial inclusion.

Q.10. The 8th edition of International Day of Yoga is being observed on which date?

Correct Answer is  21st June.

• Aim: To raise awareness worldwide of the many benefits of practicing yoga.
• 2022 theme: ‘Yoga for Humanity’
• PM Modi will lead the mass Yoga demonstration at Mysuru in Karnataka.

New Appointments

Q.1. Who was sworn in as the Lokayukta of Karnataka?

Correct Answer is Bhimanagouda Sanganagouda Patil.

• Governor Thaawarchand Gehlot administered the oath of office to Justice Patil.
• The post of the head of the anti-corruption ombudsman in Karnataka was vacant after the end of the tenure of Justice P. Vishwanath Shetty in January 2022, who served in the post for five years.

Q.2. How many persons have been appointed as part-time non-official Directors on the Central Board of RBI?

Correct Answer is  4.

• The Central Government has nominated Anand Gopal Mahindra (Chairman of Mahindra group), Venu Srinivasan (TVS Motor’s Chairman), Pankaj Ramanbhai Patel (Zydus Lifescience’s Chairman ) and Ravindra Dholakia (IIM Ahmedabad’s ex-faculty) as part-time non-official Directors on the Central Board of RBI.

Q.3. Who has been appointed as the head of the White House Office of Science and Technology Policy by US president, Joe Biden?

Correct Answer is Arati Prabhakar.

• She succeeded Eric Lander.
• She would be the first woman and the first person of color to serve as science adviser to the President of the United States.

Q.4. Who has been appointed as the new Chairperson of the Cellular Operators Association of India (COAI) for 2022-23?

Correct Answer is Pramod K Mittal (President of Jio Infocomm).

• He will replace Ajai Puri as the COAI Chairperson, who held the position for the two consecutive terms.
• COAI members include Reliance Jio, Bharti Airtel and Vodafone Idea (VIL).

Q.5. Who has been appointed as the Chairperson of Press Council of India?

Correct Answer is Justice Ranjana Prakash Desai.

• She succeeded former Supreme Court judge Justice CK Prasad, who held the office from 2014 to 2022.
• She became the first women chairperson of Press Council of India

Q.6. Who has been reappointed as Managing Director and Chief Executive Officer (MD & CEO) of Equitas Small Finance Bank (SFB)?

Correct Answer is P.N. Vasudevan.

• He founded Equitas in 2007 as a microfinance institution (MFI) and was later converted into bank in 2016.
• Earlier, the bank had received SEBI approval for the amalgamation of Equitas Holdings with the bank.

Q.7. Justice Vipin Sanghi will be appointed as the Chief Justice of which high court?

Correct Answer is  Uttarakhand HC.

• Justice Rashmin M Chhaya of the as the Chief Justice of the Gauhati High Court.
• Telangana Chief Justice, Satish Chandra Sharma will be appointed to the Delhi HC.
• Justice Amjad A Sayed and Justice SS Shinde will be elevated as the Chief Justice of the Himachal Pradesh HC and Rajasthan HC respectively.
• Justice Ujjal Bhuyan will take over as the Chief Justice of the Telangana HC.

Q.8. Who has won presidential election of Colombia and becomes the first ever leftist president in the history of country?

Correct Answer is Gustavo Petro.

• He defeated construction magnate, Rodolfo Hernandez with a margin of more than 700,000 votes.
• Petro is a former mayor of capital Bogota and current senator.
• He was also a former member of the M-19 guerrilla movement.