Daily Current Affairs July 03

Dear Champions, as you all know that a lot of competitive exams have been notified consequently. Candidates have to prepare themselves according to the level of competition and expectation of the Recruitment board. Regarding that one of the most important topic is Daily Current Affairs July 03. Current Affairs in the form of contemporary events of national & international play a crucial role in almost every competitive exams like Banking, Insurance, SSC, UPSC, TNPSC, Railway etc.

Current affairs are the most dynamic yet scoring among all sections and need to be prepared from the right source. Here, we cafunsta team, providing  Daily GK Updates, Current Affairs Questions, and Monthly  current affairs pdf.

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July 03| Daily Current Affairs 2022

Banking and Finance – Daily Current Affairs July 03

1. HDFC-HDFC Bank merger receives ‘no adverse observations’ from BSE, NSE,HDFC Bank Incorporated in which year?
A) 1985
B) 2000
C) 1994
D) 1955
E) 1990
Answer: C) 1994

• Private lender HDFC Bank has received no adverse observations from the stock exchanges in relation to its proposed merger with parent entity Housing Development Finance Corporation (HDFC) Ltd.
• “We would like to inform you that HDFC Bank has received observation letter with ‘no adverse observations’ from BSE Limited and observation letter with ‘no objection’ from the National Stock Exchange of India Limited, both dated July 2, 2022.
• As per the plan, HDFC will acquire a 41 percent stake in HDFC Bank through the transformational merger.
• Every 25 shares held by HDFC shareholders will fetch them 42 shares of the bank.
• The merger created an entity that will have a market cap of Rs 12.8 lakh crore and a balance sheet of Rs 17.9 lakh crore.

2. Banking frauds of over how many crore declined in FY22?
A) 250
B) 150
C) 300
D) 200
E) 100
Answer: E) 100

• Frauds in the banking sector involving sums of over ₹100 crore have declined significantly, with banks reporting cases worth ₹41,000 crore in 2021-22 compared to ₹1.05-lakh crore in the previous year.
• According to official data, the number of fraud cases in private as well as public sector banks (PSBs) dropped to 118 in FY22 from 265 in 2020-21.
• In the case of PSBs, the total number of fraud cases of over ₹100 crore declined to 80 from 167 in FY21, while for private sector lenders such cases reduced to 38 in FY22 from 98 earlier, as per the data.
• In terms of cumulative amount, it has come down to ₹28,000 crore from ₹65,900 crore in FY21 for PSBs.
• For private sector banks, the reduction is from ₹39,900 crore to ₹13,000 crore in FY22.

3. SBI, HDFC, ICICI Bank to remain invested in which of the following Bank?
A) Yes Bank
B) HDFC Bank
C) IDFC First Bank
D) Axis Bank
E) LVB
Answer: A) Yes Bank

• The board of YES Bank has proposed to exit from the reconstruction scheme but large investors, including the State Bank of India, HDFC Ltd and ICICI Bank may not pare down their stake in the private sector lender for now.
• As part of the reconstruction scheme, eight banks and financial institutions led by SBI had picked up stake in YES Bank in March 2020.
• As on March 31, 2022, SBI held 30 per cent stake, HDFC Ltd held 3.99 per cent stake and ICICI bank held 2.99 per cent equity shares in the lender.

4. Kotak Mahindra Bankincreased interest rate by how many basis point?
A) 25
B) 10
C) 5
D) 15
E) 20
Answer: B) 10

PNB:

• PNB has increased interest rates by 10 to 20 bps on fixed deposits of less than ₹2 Cr maturing in 1 to 3 years.
• The revised rates will be in force from 4th July 2022, and senior citizens will continue to get an additional rate of 0.50% over the regular rate across all tenors.

SBI:

• State Bank of India (SBI) hiked interest rates on fixed deposits of less than ₹2 Cr.
• The bank hiked interest rates on deposits maturing in 211 days to less than 3 years, and the new rates are as follows.

Kotak Mahindra Bank:

• The private sector lender Kotak Mahindra Bank increased interest rates on some tenors by 10 bps.
• On deposits maturing in 3 years or more but up to 10 years, the bank is now giving a maximum interest rate of 5.90 per cent to the general public and 6.40 per cent to senior citizens.

IDFC First Bank:

• The interest rate on fixed deposits with maturities ranging from 1 to five years and less than ₹2 Cr was hiked from July 1st, 2022, according to private sector lender IDFC First Bank.
• The bank is now giving a maximum interest rate of 6.50 per cent to the general public on deposits of three years, one day or less than five years and a maximum interest rate of 7 per cent to senior citizens.

Canara Bank:

• The bank is currently offering an interest rate range of 2.90 per cent – 5.75 per cent to the general public and 2.90 per cent – 6.25 per cent to senior citizens on term deposits of less than ₹2 Cr maturing in 7 days to 10 years.

Business and Economy – Daily Current Affairs July 03

5. Who among the following signed MoU with KSDC to provide supply chain operations training?
A) Myntra
B) Amazon
C) Ajio
D) Flipkart
E) Meesho
Answer: D) Flipkart

• Flipkart, an e-commerce marketplace, signed a Memorandum of Understanding (MoU) with the Karnataka Skill Development Corporation (KSDC) to launch the initiatives of the Supply Chain Operations Academy (SCOA) in the state.
• The initiative will help in creating a pool of skilled supply chain operations and provide relevant industry training and knowledge.
• The training program under SCOA has been designed and created by Flipkart.
• It will involve 15 days of digital classroom training and 45 days of on-the-job apprenticeship at Flipkart supply chain facilities.

Appointments – Daily Current Affairs July 03

6. Who among the following appointed as the new Deputy Chairman of Cochin Port Authority?
A) VikasNarwal
B) Rakesh Madhav
C) Harish Narwal
D) Vikas Sharma
E) Harish Madhav
Answer: A) VikasNarwal

• VikasNarwalh as assumed charge as the Deputy Chairman of Cochin Port Authority for a five-year term.
• He was the Managing Director of Madhya Pradesh State Agricultural Marketing Board.

7. Who among the following given additional charge of OIL chairman?
A) VikasNarwal
B) Rakesh Madhav
C) Harish Narwal
D) Vikas Sharma
E) Harish Madhav
Answer: E) Harish Madhav

• Harish Madhav, Director (Finance), Oil India Ltd (OIL), has taken over the additional charge as Chairman and Managing Director of the nation’s second largest national exploration and production (E&P) company.
• Madhav was given the additional charge following superannuation of Sushil Chandra Mishra on June 30. Madhav took charge on July 1, an Oil India Ltd (OIL).

National Affairs – Daily Current Affairs July 03

8. Country’s largest online herbarium database, ‘Indian Virtual Herbarium’ launched by which of the following ministry?
A) Home affairs Ministry
B) Finance Ministry
C) Environment Ministry
D) External Affairs Ministry
E) Agriculture Ministry
Answer: C) Environment Ministry

• Union Environment Minister Bhupender Yadav inaugurated the country’s largest online herbarium database, the ‘Indian Virtual Herbarium’ web portal.
• The portal (https://ivh.bsi.gov.in) has been developed by the Botanical Survey of India under the framework of ‘AzadiKaAmritMahotsav’ and ‘Digital India’.
• The portal aims to provide complete information on herbarium specimens about the floral diversity of India and other countries stored in the cabinet of the herbarium building through online access.
• At present, the digital herbarium of the Botanical Survey of India has four categories – Cryptogam type specimens, Cryptogams general specimens, Phanerogam type specimens, and Phanerogams general specimens.
• It will also aid the research studies and provide valuable insight for global plant research.

9. NTPC signs MoU for 10 GW renewable energy park with which of the following state government?
A) Punjab
B) Rajasthan
C) Haryana
D) Madhya Pradesh
E) Uttar Pradesh
Answer: B) Rajasthan

• With an aim to achieve the target of 60 GW of renewable energy capacity by 2032, NTPC signed a memorandum of understanding (MOU) with the Government of Rajasthan for the development of 10 GW Ultra Mega Renewable Energy Power Park in Rajasthan.
• The MOU signing ceremony was held in the presence of Rajasthan Energy Minister Bhanwar Singh Bhati.
• According to the Ministry of Power, in less than two years since its inception, NTPC Renewable Energy Limited has won 4 GW renewable energy capacity by bidding in various tenders which are under different stages of implementation.

10. SwachhSagar, SurakshitSagar campaign to celebrate International Coastal CleanupDay,this year the day is celebrated on?
A) September 15
B) September 19
C) September 16
D) September 17
E) September 18
Answer: D) September 17

• Globally, “International Coastal Cleanup Day” is celebrated on the third Saturday of September, every year.
• This year on 17th September 2022, the Government of India along with other voluntary organizations, and the local society will run a cleanliness campaign “SwachhSagar, SurakshitSagar” along India’s entire coastline.
• This campaign will include Ministry of Earth Sciences (MoES), Ministry of Environment Forest and Climate Change (MoEFCC), Indian Coast Guard, National Disaster Management Authority (NDMA) along with other social organizations and educational institutions.
• This campaign will see massive public participation both physically and virtually, mainly to make awareness about reducing the marine litter, minimal use of plastics, segregation at source and waste management.
• It will be the first-of-its-kind and longest running coastal cleanup campaign in the world with highest number of people participating in it.
• The participation of common man will convey the message of “SwachhSagar, SurakshitSagar” for the prosperity of not only coastal areas but also other parts of the country.

Over All Review

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