Weekly Current Affairs (22nd to 30th June 2022) - 1 | Weekly Current Affairs - UPSC PDF Download

Banking & Financial Awareness

Q.1. PVR and INOX Leisure have received clearances for their merger from which two stock exchanges?

Correct Answer is NSE and BSE.

• In March 2022, both multiplex operators announced the merger to create the largest multiplex chain in the country.
• The company received an observation letter with 'no adverse observations' from BSE Ltd on June 20, 2022, and an observation letter with 'no objection' from NSE on June 21, 2022.

Q.2. Which bank will collaborate with the Government's Department of Pension & Pensioners' Welfare (DoPPW) to create an integrated pension portal ?

Correct Answer is SBI.

• It helps to enhance the ease of living of pensioners.
• It was decided during the special session, that immediate effort are needed for the creation of a pension portal by linking the existing portals of the DoPPW and the SBI.

Q.3. Under the chairmanship of whom, the Securities and Exchange Board of India (SEBI), has set up a 20-member advisory committee, which recommends a fillip to the growth of such instruments, including measures focusing on ease of issuance and attracting domestic and global capital?

Correct Answer is KV Kamath.

• Sebi has reconstituted its research advisory committee of 16 members, chaired by V Ravi Anshuman.

Q.4. What is the new timeline recommended by the RBI for implementation of a few provisions under its master directions on credit card and debit card issuance?

Correct Answer is October 1, 2022.

• Provisions: Card issuers shall seek OTP-based consent from the cardholder for activating a credit card, If consent is not received then card issuers shall close the credit card account without any cost.

Q.5. Which bank has launched a new portal for its corporate EXIM customers named ‘SIB TF Online’ ?

Correct Answer is South Indian Bank.

• This portal provides a platform for trade-related payments to foreign entities remotely.
• Through this portal, customers can initiate the payment request on SIB TF Online, after uploading the relevant documents for the transaction.

Q.6. Which bank has joined hands with CARD91 and RuPay, to create a card management system that will allow companies to launch a variety of co-branded card instruments?

Correct Answer is YES Bank.

• This will enable CARD91 to expand its presence in the Indian payments market.
• CARD91 is a global payment infrastructure powering B2B payments.
• It was designed to help businesses launch co-branded cards and simplify payments.

Q.7. Max Life Insurance Company Ltd has launched the ‘Max Life Smart Fixed-return Digital Plan’ with which insurance websites?

Correct Answer is Policybazaar.

• It is a non-linked, non-participating, individual life insurance savings plan.
• This plan helps customers to meet their short-term financial goals.
• The plan also offers guaranteed tax-free returns up to 6.14%.
• Monthly premiums: ₹3000; Minimum tenure: five years

Q.8. Freo has launched a digital savings account offering 'Freo Save' in association with which bank?

Correct Answer is Equitas Small Finance Bank.

• With this launch, Freo has become the first consumer neobank in the country to provide full-stack neo-banking products.
• It includes smart savings account, credit and payments products, cards and wealth-growth products.

Q.9. What is the name of the customised Credit Card, launched by AU Small Finance Bank?

Correct Answer is AU Bank LIT (Live-ItToday).

• This credit card offers a unique value proposition to cardholders.
• Cardholders can choose the features and time period according to their wish.
• Through the AU0101 app, cardholders can track their saving/earnings daily to maximize their benefits.

10. Liberty General Insurance has signed an agreement with which distribution company to enable the distribution of Liberty’s retail and commercial line of products?

Correct Answer is Peerless Financial Products Distribution Ltd (PFPDL).

• The product distribution across the country will be done through the 42 branches of Peerless.
• Liberty is working closely with PFPDL to provide training and operational expertise.

Q.11. Which bank has launched ‘Video-based Customer Identification Process (V-CIP)’?

Correct Answer is Karnataka Bank.

• It is an online savings bank (SB) account opening facility.
• This facility will enable in the corporate website of the bank, strengthen the prospective customers to open an SB account through online process and complete KYC verification through a video call.
• This is a end-to-end paperless digital process.

Q.12. Which state's rain-fed agriculture in the steep areas project has been approved by the World Bank, cost Rs. 1,000 crore?

Correct Answer is Uttarakhand.

• The watershed department will carry out the Uttarakhand Climate Responsive Rain-fed Farming Project.
• Aims: Lower the greenhouse gas emissions.
• It will also encourage environment-friendly agricultural practices.

Q.13. The World Bank has approved a loan of what amount to the Indian Railways to reduce the India’s high carbon emissions and low modal freight share in the railways?

Correct Answer is $ 245 Million.

• The Indian Railway project will help India to shift more traffic from road to rail.
• This will make transport more efficient and reduce tonnes of greenhouse gas emissions each year.
• This loan is financed through the International Bank for Reconstruction and Development with a maturity of 22 years.

Q.14. Which bank has launched a digital platform called ‘Campus Power’?

Correct Answer is ICICI Bank.

• Aim: To help students aspiring to pursue higher education in India and outside the country.
• This platform will cater the varied needs of the entire student ecosystem comprising students, parents, and institutes.

Q.15. Which online food delivery platform has announced to acquire Blinkit, which was earlier known as Grofers, in an allstock deal of Rs 4,447 crore?

Correct Answer is Zomato.

• Zomato would acquire up to 33,018 equity shares of Blink Commerce Pvt Ltd.
• The total purchase consideration of Rs 4,447.48 crore at a price of Rs 13.45 lakh per equity share.
• Last year, Zomato had bought a 10% stake in Blinkit for about $100 million.

Q.16. Which NBFC has received in-principal RBI approval for issuance of semi-closed prepaid payment instruments?

Correct Answer is Mufin Finance.

• This PPI licence will allow digital banks, fintech firms and large consumer-facing applications to roll out features such as digital payment solutions for lending.
• It is the fourth NBFC to receive such a licence from the RBI
• Other three: Bajaj Finserve, Manapurram and Paul Merchants.

Q.17. Which fintech service has launched UPI 123Pay payment and wearable ATM cards?

Correct Answer is  Acemoney.

• UPI 123Pay: Allow people to carry out cashless transactions without smartphones or internet connections by using feature phones only.
• Wearable ATM cards: It is designed as key chains and rings that allows people to carry out cashless transactions without ATM cards and phones.
• Acemoney is India's first company to launch UPI 123Pay services in Malayalam and Tamil.

Q.18. Which financial corportaion has raised the upper loan limit of loans under the Chief Minister’s Entrepreneurship Development Programme (CMEDP) to ₹2 crore?

Correct Answer is  Kerala Financial Corporation.

• Aim: More MSMEs can get funds at a concessional 5% interest rate.
• The Kerala government will provide a subsidy of 3% with the Corporation chipping in with 2% towards the effective interest rate.
• The age limit set by Govt for SC/ ST entrepreneurs, women entrepreneurs and non-resident Keralites is 55 years.

Q.19. As per the Goods and Services Tax (Period of Levy and Collection of Cess) Rules, 2022, has been notified by the finance ministry that the government has extended the time for levy of GST compensation cess by nearly 4 years till?

Correct Answer is March 31, 2026.

• The levy of cess was about to end on June 30.
• The revenue from the GST compensation cess is used to pay for the borrowings and arrears of compensation paid to states in the last two financial years.

Q.20. Which general insurance company has launched ‘Global Health Care’, a comprehensive health insurance product?

Correct Answer is Bajaj Allianz General Insurance.

• It covers planned as well as emergency treatment.
• It also provides health care Internationally (outside of India) and domestically (within India).
• Sum Insured: Rs 37,50,000 to Rs 3,75,00,000
• The product is available in two plans, namely ‘Imperial Plan’ and ‘Imperial Plus Plan'.
•  For Overseas citizens of India, the minimum period to stay outside is 180 days.

Q.21. Which payments bank has joined hands with Axis Bank to digitize the cash collection system?

Correct Answer is Airtel Payment Bank.

• Region: India's tier III cities and semi-urban regions.
• Axis Bank to build operational efficiencies in the cash management process, speed up the payment cycle.
• It helps in releasing the bandwidth of field agents who operate across the country.

Q.22. The Securities and Exchange Board of India has imposed a penalty of what amount on the National Stock Exchange (NSE) in the dark fibre case.?

Correct Answer is 7 crores.

• 5 crore on Chitra Ramkrishna (former CEO of the exchange)
• Anand Subramanian (former group operating officer) and Ravi Varanasi (current CBD officer), 5 crore each.
• Sampark Infotainment, Way2Wealth Brokers and GKN Securities have been fined 3 crore, 6 crore and 5 crore, respectively.

Obituaries

Q.1. R. Raveendran, has been passed away. He was a?

Correct Answer is Photojournalist.

• He was known for his iconic photo of Rajiv Goswami setting himself on fire during the Mandal agitation in the Capital.
• He has been awarded various photography awards.
• He has worked in AFP and ANI.

Q.2. Chowalloor Krishnankutty has passed away, was a?

Correct Answer is Lyricist, author and journalist.

• Krishnankutty has penned over 3000 devotional songs and authored more than 200 books.
• He was retired from the Malayala Manorama daily as an Assistant Editor.
• Awards: Kerala Sahithya Academy Award for satire, Poonthanam Jnanapana, and Revathy Pattathanam Awards among others.

Q.3. V Krishnamurthy, who passed away, was a former?

Correct Answer is Chairman of SAIL.

• He worked as the chairman of SAIL from 1985 to 1990.
• He had also been the chairman of Bharat Heavy Electricals Ltd (BHEL), Maruti Udyog and GAIL.
• Awards: Padma Shri (1973), Padma Bhushan (1986), Padma Vibhushan (2007)

Q.4. Pallonji Mistry, who passed away was a?

Correct Answer is Chairman of Shapoorji Pallonji group.

• In 2022, Pallonji Mistry stands at rank 125 while he was the ninth richest Indian person as of 2021, as per the Forbes Billionaires List.
• He has been conferred with the Padma Bhushan (2016).
• He was the largest individual shareholder in the Tata Group with a 18.4% holding.

Q.5. Varinder Singh, who passed away was related to which sports?

Correct Answer is Hockey.

• He was an integral part of the gold-medal-winning Indian team at the 1975 men's Hockey World Cup in Kuala Lumpur.
• He was also a part of the bronze medal-winning team at the 1972 Munich Olympics and the silver medal at the 1973 World Cup in Amsterdam.
• He has been conferred with the prestigious Dhyan Chand Lifetime Achievement Award in 2007.

Important Days

Q.1. International Olympic Day is observed annually on which date across the world to commemorate the birth of modern Olympic games?

Correct Answer is June 23.

• The International Olympic Committee (IOC) was founded on 23 June 1894.
• The theme for the International Olympic Day 2022 is “Together For A Peaceful World".

Q.2. UN Public Service Day is observed on which date with the aim to appreciate the value of public institutions and public servants?

Correct Answer is June 23.

• The 2022 theme: “Building back better from COVID-19: Enhancing innovative partnerships to meet the Sustainable Development Goals.”

Q.3. The International Maritime Organization (IMO) is observed the International Day of Seafarer annually which date to pay respect to Seafarers and sailors who help the entire world function by conducting sea transport?

Correct Answer is June 25.

• This day was proposed by International Maritime Organization in 2010.
• This day recognizes the invaluable contribution of seafarers to the worldwide commerce and economic system.
• 2022 theme: Your voyage – then and now, share your adventure.

Q.4. The International Day against Drug Abuse and Illicit Trafficking is observed on which date?

Correct Answer is June 26.

• Aim: To spread awareness about the physical and psychological impact of substance abuse, drug overdose deaths.
• The theme 2022: Addressing drug challenges in health and humanitarian crisis
• In 2022, the UNODC has started the campaign - “#CareInCrises” - for World Drug Day.

Q.5. The International Day in Support of Victims of Torture is observed annually on which date?

Correct Answer is June 26.

• Aim: to promote the abolition of torture, support victims, and promote human rights.
• The United Nations General Assembly passed a resolution on December 12, 1997. Presently, the Convention has been ratified by 162 countries.

Q.6. The World Micro, Small, and Medium Enterprises (MSME) Day is observed annually on which date to recognize the contribution of these industries in the implementation of the Sustainable Development Goals (SDGs)?

Correct Answer is June 27.

• Theme 2022: Resilience and Rebuilding: MSMEs for Sustainable Development.
• The United Nations General Assembly (UNGA) has marked the first World MSME Day by 74th Plenary on April 6, 2017.
• MSME minister: Narayan Rane

Q.7. Union Government has observed National Statistics Day on which date every year to mark the birth anniversary of late Professor Prasanta Chandra Mahalanobis?

Correct Answer is 29th June.

• Since 2007, this day is observed in recognition of his valuable contribution in the field of Economic Planning and Statistics.
• Theme 2022: Data for Sustainable Development.

Q.8. International Day of the Tropics is observed annually on which date?

Correct Answer is 29 June.

• This day highlights the challenges faced by the tropic’s nations.
• The tropics nations are those that lies between the Tropic of Capricorn and the Tropic of Cancer.

Q.9. World Asteroid Day is observed annually on which date to raise the awareness about the asteroid hazardous impact?

Correct Answer is June 30.

• In December 2016, UNGA has adopted resolution A/RES/71/90 to declare 30 June International Asteroid Day.
• This day marked the anniversary of the Tunguska impact over Siberia, Russian Federation, on 30 June 1908.

New Appointments

Q.1. Who has been appointed as the Permanent Representative of India to UN?

Correct Answer is Ruchira Kamboj.

• She will replace T S Tirumurti.
• She has joined the Indian Foreign Service (IFS) in 1987, was the All India women’s topper of the 1987 Civil Services batch and the topper of the 1987 Foreign Service batch.

Q.2. Who has been appointed as the chairperson of the 12-member committee formed by the Committee of Administrators (CoA)?

Correct Answer is Minerva Punjab FC, Ranjit Bajaj.

• The CoA took charge of the AIFF, after the Supreme Court removed the Praful Patel led office bearers for not holding elections on time.
• Aim: To look the day-to-day matters of various departments of the All India Football Federation (AIFF).

Q.3. Who has been appointed as the Director-General of New Development Bank (NDB), India Regional Office in Gujarat International Finance Tec-City (GIFT City)?

Correct Answer is Dr D J Pandian.

• In May 2022, the NDB had announced to set up IRO in the Gift city.
• The NDB has also approved 20 projects in India worth of USD 7.2. billion.
• The IRO will support the effective and efficient implementation of these projects and work closely with Project Implementation Agencies.

Q.4. Who has been appointed as Director of Intelligence Bureau for a tenure of two years from the date of assumption of the charge?

Correct Answer is Tapan Kumar Deka.

• He is a 1988 batch Himachal Pradesh cadre IPS officer.
• He will succeed incumbent Intelligence Bureau Director, Arvind Kumar.

Q.5. Wo has been appointed as a new CEO of Niti Aayog for two years?

Correct Answer is Parameswaran Iyer.

• He will replace Amitabh Kant.
• He is a 1981-batch IAS officer of the Uttar Pradesh cadre.
• In 2016, Iyer was appointed to implement government's Swachh Bharat Mission.

Q.6. Who has been appointed as the Director General of National Investigation Agency (NIA)?

Correct Answer is Dinkar Gupta.

• He will replace Director General of CRPF, Kuldeep Singh, who was given an additional charge of the NIA after the retirement of Y C Modi.
• He will hold this post till March 31, 2024.
• NIA is a counter-terrorist task force of India.

Q.7. Who has been appointed as the new chairman of Central Board of Direct Taxes (CBDT)?

Correct Answer is Nitin Gupta.

• He will replace Sangeeta Singh who had been given an addition charge after the retirement of JB Mohapatra on April 30.
• The CBDT is headed by a chairman and may consist of six members in the rank of Special Secretary.

Q.8. Who has been appointed as the acting President of the Indian Olympic Association (IOA)?

Correct Answer is Anil Khanna.

• The Delhi High Court has passed an order, that Narinder Dhruv Batra cannot continue as the President of the Indian Olympic Association (IOA) in a contempt proceeding.
• While hearing a contempt proceeding filed on behalf of former Olympian Aslam Sher Khan against Batra, IOA secretary general Rajeev Mehta and Sports Secretary.

Q.9. Who has sworn-in as the new Chief Justice of the Delhi High Court by lieutenant governor Vinai Kumar Saxena?

Correct Answer is Justice Satish Chandra Sharma.

• He succeeded Justice DN Patel, who retired on March 13.
• Earlier, he served as the Chief Justice of the Telangana High Court.
• He has also served as an acting chief justice of Karnataka high court.

Q.10. Who has been appointed as president of the International Weightlifting Federation (IWF) at an event held in Tirana, Albania?

Correct Answer is Mohammed Jalood.

• Jalood is the first permanent president since Tamás Aján has stepped down in 2020 after controlling the IWF for 44 years.
• Earlier, he has worked as a IWF General Secretary.
• He has worked as spending the last five as IWF General Secretary.

Q.11. The board of Reliance Jio Infocomm has approved the appointment of its chairman?

Correct Answer is Akash Ambani.

• He has joined the Reliance Jio in 2014.
• The board has also approved the appointment of Raminder Singh Gujral and KV Chowdary, as additional directors of the company.
• The appointment of Pankaj Mohan Pawar as MD of Jio has also been approved.

Q.12. Who has been selected as the head of India's largest gas utility GAIL (India) Ltd by the Public Enterprises Selection Board (PESB)?

Correct Answer is Sandeep Kumar Gupta.

• He will replace Manoj Jain, who will be retired on August 31, 2022.
• He has more than 31 years of working experience at Indian Oil Corporation (IOC).
• He is working as a Director (Finance) of IOC since August 3, 2019.