Daily Current Affairs July 05

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 05. 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 05| Daily Current Affairs 2022

Banking and Finance – Daily Current Affairs July 05

1. RBI imposed penalty of how many crores on Kotak Mahindra Bank?
A) 1.89
B) 1.50
C) 1.68
D) 1.05
E) 1.45
Answer: D) 1.05

• A penalty of Rs 1.05 crore has been imposed on Kotak Mahindra Bank for contravention of certain norms related to ‘The Depositor Education and Awareness Fund Scheme, 2014’ and for non-compliance with the directions on ‘Customer Protection – Limiting Liability of Customers in Unauthorised Electronic Banking Transactions’, and ‘Loans and Advances – Statutory and Other Restrictions’.
• The RBI said a penalty of Rs 1 crore has been imposed on IndusInd Bank for non-compliance with certain Know Your Customer (KYC) norms.
• Penalties have also been imposed on Nav Jeevan Co-operative Bank; Balangir District Central Cooperative Bank Limited, Balangir; Dhakuria Cooperative Bank Ltd, Kolkata; and The Palani Co-operative Urban Bank Limited (No.A.331), Palani.
• The penalty ranges between Rs 1 lakh and Rs 2 lakh.
• The RBI, however, said the penalties are based on deficiencies in regulatory compliance and not intended to pronounce upon the validity of any transactionor agreement entered into by the banks with their customers.

Launched survey on International Trade in Banking Services:

• The Reserve Bank of India (RBI) has launched the 2021-22 round of its survey on International Trade in Banking Services (ITBS).
• The survey, conducted annually since 2006-07, provides information on financial services rendered by branches/subsidiaries/joint ventures of Indian banks operating abroad and branches/subsidiaries of foreign banks operating in India, based on explicit/implicit fees/commissions charged to customers.
• The survey schedule for the 2021-22 round is required to be filled in by the banks for branches/subsidiaries/joint ventures of Indian banks operating abroad and branches/subsidiaries of foreign banks operating in India.
• The soft form of this survey schedule is available on the RBI website.
• The duly filled-in schedule can be emailed by July 31, 2022.

Launched next round of survey of manufacturing companies:

• The Reserve Bank has launched the next round of its order books, inventories and capacity utilisation survey (OBICUS) of manufacturing companies, results of which provide valuable inputs for monetary policy formulation.
• The 58th round of the OBICUS is for April – June 2022 period.
• Selected manufacturing companies will be approached by the RBI for the survey.
• The central bank has been conducting the OBICUS of the manufacturing sector on a quarterly basis since 2008.
• The RBI has also launched the 2021-22 round of its Survey on International Trade in Banking Services (ITBS).
• The survey, conducted annually since 2006-07, provides information on financial services rendered by branches/ subsidiaries/joint ventures of Indian banks operating abroad and branches/subsidiaries of foreign banks operating in India.

Muthoot Finance gets RBI nod to open 150 new branches:

• Gold loan-focussed Non-Banking Financial Company (NBFC) Muthoot Finance has received an approval from Reserve Bank of India (RBI) to open additional 150 branches across the country.
• The non-bank lender plans to open these branches across southern and northern parts of the country.

Suggested govt to ask Brics Bank to sell rupee bonds overseas:

• The Reserve Bank of India has recommended that the government approach the Brics Bank, now known as the New Development Bank (NDB), to sell rupee-denominated bonds in overseas markets.
• Selling rupee bonds, a senior official aware of the central bank’s recommendation said, will help India tap foreign savings amid the government’s record borrowing programme and rising yields in the domestic markets.

New guidelines for payment activities:

• Non-bank payment system operators (PSOs) will require prior approval of the RBI for any takeover or acquisition of control, which may or may not result in change of management.
• They would also require prior approval of the RBI for sale or transfer of payment activity to an entity not authorised for undertaking such an activity
• This follows a review of the operations of non-bank PSOs authorised to operate any payment system by the RBI.
• The non-bank PSOs shall inform the RBI within 15 calendar days in the following cases: change in management or directors and sale or transfer of payment activity to an entity authorised for undertaking similar activity.

Approved Merger of HDFC Bank with HDFC:

• RBI has approved the HDFC Bank merger with parent and mortgage lender Housing Development Finance Corp Ltd (HDFC).

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2. BharatPe recorded how many billion USD TPV in Q1 FY23?
A) 20
B) 18.5
C) 25
D) 15
E) 10
Answer: B) 18.5

• Fintech company BharatPe has hit $18.5 billion– its all-time high- in annualised TPV (Total payment volume) in the first quarter of this fiscal.
• This is a growth of over 50% compared to the last quarter of FY22.
• The company has also announced that it closed one of the highest growth quarters as it facilitated over Rs 3,600 crore in loans, recording a growth of 112% over the last quarter.

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3. IDBI Bank’s gold loan biz crossedhow many crores milestone?
A) 5000
B) 15000
C) 10000
D) 20000
E) 14000
Answer: C) 10000

• IDBI Bank said its gold loan portfolio has crossed a Rs 10,000 crore milestone.
• IDBI Bank’s gold loan book has achieved a prestigious milestone and has crossed Rs 10,000 crore landmark.
• In the last two years, the bank’s gold loan book has doubled from Rs 5,000 crore to Rs 10,000 crore.
• The LIC-controlled bank said its loan processing system is fully automated and this has helped in the growth of the gold loan book.
• Customers complete the transactions generally in 10-15 minutes.

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Business and Economy – Daily Current Affairs July 05

4. Agritech firm Gramophone to open how many store network by Sept?
A) 5000
B) 2000
C) 1000
D) 3000
E) 4000
Answer: A) 5000

• Agritech platform Gramophone said it plans to expand its offline retail network to 10,000 stores countrywide by the end of September this year.
• The company, which launched offline retail this year, has 5,000 stores in Madhya Pradesh, Chhattisgarh, Rajasthan, western Uttar Pradesh, and eastern Maharashtra.
• While some of the stores are owned and operated by Gramophone, the majority are under partnership with existing agri-retailers.

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5. India’s merchandise exports jumpedhow many percent to USD 37.9 bn in June?
A) 15.6%
B) 17.2%
C) 14.9%
D) 13.5%
E) 16.8%
Answer: E) 16.8%

• India’s merchandise exports rose by 16.8 per cent to $37.9 billion in June 2022, while imports soared by 51.02 per cent to $63.58 leading to a trade deficit of $25.63 billion during the month.
• In the first quarter of the current financial year, India’s merchandise export rose to $116.77 billion, recording an increase of 22.22 per cent over $95.54 billion recorded in April -June 2021-22.
• India’s merchandise imports in April-June 2022-23 period stood at $187.02 billion, an increase of 47.31 per cent over $126.96 billion in April-June 2021-22, according to data released by the Ministry of Commerce & Industry.
• The trade deficit in June 2022 was $25.63 billion, while it stood at $70.25 billion during April-June 2022-23 period.

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Appointments – Daily Current Affairs July 05

6. ART Fertility namedwho among the following as India CEO?
A) Sudeep Mittal
B) SomeshMittal
C) SudeepBehari
D) SaibabaVutukuri
E) Ivan Saha
Answer: B) Somesh Mittal

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National Affairs – Daily Current Affairs July 05

7. ACME Group to build how many crore green hydrogen plant in Tamil Nadu?
A) 57424
B) 54472
C) 54724
D) 52474
E) 52744
Answer: D) 52474

• ACME Group announced green hydrogen and green ammonia project in Tamil Nadu entailing an investment of Rs 52,474 crore.
• The initial agreement with the state government was signed in the presence of Chief Minister of Tamil Nadu M K Stalin during the Tamil Nadu Investment Conclave.
• This project will comprise 5,000 mw of solar PV plant, 1.5 GW of the electrolyzerand 1.1 million tonnes of ammonia synthesis loop.

Life Sciences Promotion policy;

• Tamil Nadu Chief Minister M K Stalin unveiled the Life Sciences Promotion Policy and Research and Development Policy aiming to transform the state into an attractive destination for manufacturers in Life Sciences to invest, innovate and create life sciences products.
• The R&D policy aims to transform Tamil Nadu into a knowledge-based economy by 2030, driving manufacturing and service excellence.
• Life Sciences includes a range of more specific scientific fields like microbiology, zoology, biochemistry, cell biology, evolutionary biology, anatomy, biophysics, epidemiology, marine biology, genetics, botany and ecology.

Tamil Nadu a trillion-dollar economy:

• Tamil Nadu Chief Minister MK Stalin said the DMK government is aiming at making the state a trillion-dollar economy.
• He inaugurated the sixth edition of the investor’s conference called “Tamil Nadu-the First Port of Call for Investors,” in Chennai.
• In the event, 60 MoUs were signed with investors with an investment commitment of more than one lakh twenty-five thousand crore rupees, which are expected to create about 75 thousand jobs.
• Twelve new industrial projects worth nearly 1500 crore rupees with the potential to generate about 7000 jobs were inaugurated by Mr. Stalin.
• He also laid the foundation stone for twelve projects worth more than 22 thousand crore rupees.
• They are said to have the potential to create nearly 18 thousand jobs.
• The state biotechnology promotion policy-2022 and the state research and development policy-2022 were unveiled by the chief minister in the meeting.

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8. Rajasthan CM sanctioned over how many crores for drinking water project?
A) 366.67
B) 367.66
C) 376.66
D) 366.76
E) 366.77
Answer: A) 366.67

• The Rajasthan government has sanctioned Rs 366.67 crore for the second phase of the Bisalpur-Jaipur Water Supply Project (BWSP).
• The BWSP has been designed to deliver drinking water from the Bisalpur Dam to Jaipur to reduce the city’s dependence on its groundwater resources.
• Chief Minister Ashok Gehlot approved a proposal to sanction the funds for the second phase of the project in Jagatpura, Pratap Nagar, Mahal Road and Kho-Nagorian in Jaipur district.
• Financial approval of Rs 214.93 crore has been given for the area around Jagatpura, Pratap Nagar, and Mahal Road on the outskirts of Jaipur city.
• The government has also approved Rs 151.74 crore for the second phase of the project at Kho-Nagorian.
• According to the statement, main and distribution pipelines of 91.03 km of ductile iron pipeline and 350.59 km of high-density polyethylene pipeline laying work and eight high water reservoirs will be done in Jagatpura, Pratap Nagar,Mahal Road area.

Approved draft of Khadi workers’ incentive scheme:

• Rajasthan chief minister Ashok Gehlot approved the draft of ‘Khadi Workers Economic Incentive Scheme’ for promoting use of Khadi and support workers engaged in the sector.
• The chief minister has also approved a financial assistance of Rs 9 crore for Khadi workers for the financial year 2022-23.
• With this approval, over 20,000 Khadi workers of the state will get adequate remuneration.
• This will help improve their living conditions.
• An expenditure of Rs 36 lakh will be incurred on the software, computer operators and other works including data entry to implement the scheme.
• The Khadi and Village Industries Board will invite applications from workers through khadi institutions/committees.
• The incentive will be transferred directly in the bank account of the beneficiary.
• The chief minister had announced the implementation of ‘Khadi Workers Economic Incentive Scheme’ in the budget 2022-23.

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9. Centre approvedhow many crores mega cluster of mangoes in Lucknow: UP CM?
A) 150
B) 200
C) 100
D) 250
E) 50
Answer: C) 100

• Uttar Pradesh Chief Minister Yogi Adityanath said the Centre had approved a mega cluster of mangoes in Lucknow and ₹100 crore will be spent on it in the next five years.
• Speaking at a function after the inauguration of ‘Uttar Pradesh Mango Mahotsav-2022’ here, he said in this mega cluster, mangoes from Lucknow will be known as the ‘Kakori brand’.

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10. India became____ largest startup ecosystem in world within span of six years?
A) 5th
B) 3rd
C) 6th
D) 4th
E) 7th
Answer: B) 3rd

• Union Commerce and Industry Minister Piyush Goyal said that India has become the third largest startup ecosystem in the world within a span of six years.
• The government under the leadership of Prime Minister Narendra Modi has acted as a catalyst for startups rather than a controller.
• The Minister released the results of the third edition of Ranking of States’ Exercise 2021 on Support to Startup Ecosystems in New Delhi.
• Initiatives like Fund of Funds, Seed Fund Scheme, Income Tax exemption for three years and resolving issue of Angel Tax have helped the startups ecosystem in the country.
• He stressed that India should be the number one ecosystem for startups in the world.
• There are over 71 thousand startups from over 640 districts and concrete efforts can led to registration of more startups.

Migrant workers benefited very significantly from ‘One Nation, One Ration Card’: Union Minister Piyush Goyal:

• Consumer Affairs Minister Piyush Goyal has said that 45 crore transactions have been taken place so far under ‘One Nation, One Ration Card’ (ONORC).
• ‘One Nation, One Ration Card’ is a revolutionary step and unique initiative globally.
• Under the scheme, beneficiaries can get access to subsidized foodgrains under Public Distribution System anywhere in the country.
• Addressing the National Conference on Food and Nutrition Security in New Delhi, Mr Goyal said, the migrant labours benefited very significantly from ‘One Nation, One Ration Card’.
• One Nation,One Ration Card launched in August 2019.

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11. Petroleum and Natural Gas Minister HardeepPuri says Green Hydrogen will provide momentum to country’s journey towards energy independence by which year?
A) 2035
B) 2025
C) 2030
D) 2047
E) 2050
Answer: D) 2047

• Petroleum and Natural Gas Minister HardeepPuri said that Green Hydrogen will provide momentum to country’s journey towards energy independence by 2047.
• India has a huge edge in green hydrogen production, owing to its favourable geographic conditions and presence of abundant natural elements.
• While chairing a meeting with stakeholders on Green Hydrogen in New Delhi, green hydrogen must be pushed as an alternative source of energy as country is spending 12 lakh crore rupees to import energy.
• India being the large growing economy, is going to be the hub of Green Hydrogen.

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12. Jharkhand eyes 4,000 MW solar power capacity in how many years?
A) 5
B) 3
C) 6
D) 4
E) 7
Answer: A) 5

• Jharkhand aims to achieve a capacity of 4000 MW of solar power in the next five years and is open to attracting investors in the space with lucrative offers, Chief Minister Hemant Soren.
• Soren launched the Solar Energy Policy 2022 and laid the foundation stone in the virtual mode for a 600 KW capacity solar plant at Dhanbad and Dumka airports and a grid-connected rooftop power plant for domestic consumers under the Giridih Solar City Scheme.
• Under the new policy, the generation of 4000 MW of solar energy is scheduled from 2022-2023 to 2026-27.
• The policy also seeks to create jobs, growth opportunities, and sustainability in Jharkhand, which currently generates less than 45 MW of solar energy.
• Jharkhand has potential for solar energy as it has around 300 days of clear sun with high solar insolation.

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