Daily Current Affairs July 16

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 16. 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.

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July 16| Daily Current Affairs 2022

Important Days – Daily Current Affairs July 16

1. World Youth Skills Day is observed on?
A) July 13
B) July 11
C) July 15
D) July 12
E) July 14
Answer: C) July 15

• The UN declared July 15 as World Youth Skills Day with the aim to address challenges to skills and competencies by reducing access barriers to work.
• It has been celebrated since 2014.

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Banking and Finance – Daily Current Affairs July 16

2. Which Bank signed MoU with JCB India?
A) Axis Bank
B) ICICI Bank
C) DBS Bank
D) HDFC Bank
E) Karnataka Bank
Answer: E) Karnataka Bank

• The city-headquartered Karnataka Bank has signed a Memorandum of Understanding (MoU) with JCB India Limited, a manufacturer of earthmoving and construction equipment in India.
• Under the agreement, JCB will be nominating Karnataka Bank as its ‘preferred financier’ wherein individuals, contractors, companies and partnership firms can avail loans from the bank at competitive interest rates for purchasing a wide range of equipment from the product line of JCB India Limited.
• The tie-up arrangement with JCB India is expected to boost the lending avenues under the bank’s MSME portfolio.

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3. RBI, Bank _____ agree to expand cooperation in payment systems?
A) Indonesia
B) Italy
C) France
D) Germany
E) Canada
Answer: A) Indonesia

• The Reserve Bank of India and Bank Indonesia signed a Memorandum of Understanding (MoU) in Bali on the sidelines of the G20 Finance Ministers and Central Bank Governors Meeting to improve mutual cooperation.
• With this MoU, RBI and BI committed to deepen relations between both central banks and strengthen the exchange of information and cooperation in the area of central banking, including payment systems, digital innovation in payments services, and regulatory and supervisory framework for AML-CFT.

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4. Which Bank first quarter profit rises 19 per cent to Rs 9,196 crore?
A) Axis Bank
B) Indian Bank
C) DBS Bank
D) HDFC Bank
E) Karnataka Bank
Answer: D) HDFC Bank

• HDFC Bank net profit rose by 19 per cent year-on-year to Rs 9,196 crore for the quarter ended June 30, 2022.
• The bank’s core net revenue (excluding trading and Mark to Market losses), grew by 19.8 per cent to Rs 27,181.4 crore for the first quarter of the current financial year as compared to Rs 22,696.5 crore recorded in the corresponding period of the last fiscal.
• The bank’s total net revenues (net interest income plus other income) stood at Rs 25,869.6 crore for the quarter ended June 30, 2022.
• Profit before tax (PBT) after trading and Mark to Market losses of Rs 1,311.7 crore in the quarter, was at Rs 12,180.1 crore, and grew by 18.2 per cent over the corresponding quarter of the previous year.

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Acquisitions and Mergers – Daily Current Affairs July 16

5. CCI approved acquisition of Ageas Federal Life Insurance by which Insurance company?
A) Bajaj Allaince Insurance
B) Aegas Insurance
C) SBI life Insurance
D) Shriram Life Insurance
E) Cholamadalam Insurance
Answer: B) Aegas Insurance

• The Competition Commission of India (CCI) has approved the acquisition of Ageas Federal Life Insurance Company Limited by its group company Ageas Insurance International NV.
• The proposed combination pertains to the acquisition of further shareholding in Ageas Federal Life Insurance Company Limited (AFLI) by Ageas Insurance International NV (Acquirer).

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6. VIL shareholders approvdhow many crore equity allocation to Vodafone?
A) 436
B) 563
C) 463
D) 663
E) 536
Answer: A) 436

• Debt-ridden telecom operator Vodafone Idea’s shareholders have approved equity allocation worth Rs 436.21 crore to its promoter entity, the Vodafone Group.
• As per voting results submitted to the stock exchanges, 99.94 per cent of Vodafone Idea (VIL) shareholders approved allocation of the equity to Vodafone Group firm Euro Pacific Securities.
• Vodafone Group at present holds 58.46 per cent stake in the company and Aditya Birla Group 16.53 per cent.
• The company had raised Rs 3,375 crore from Vodafone Group and Rs 1,125 crore from Aditya Birla Group in March.
• VIL has been trying to raise funds in the range of Rs 20,000-25,000 crore from external sources since the last two years but has failed to attract any investor.
• The government announced a reform package in September last year which has largely benefited Vodafone Idea.
• The government has allowed VIL to convert around Rs 16,100 crore interest dues into about 33 per cent stake in the company to provide liquidity for investment in the business.
• Still, analysts have said high leverage and weak balance sheet have impaired the company’s ability to invest in the network.
• As on March 31, 2022, the total debt (including interest accrued but not due) of the group was Rs 1,97,878.2 crore.
• The company has around Rs 8,160 crore of payments due over the next 12 month, as per analysts.

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Appointments – Daily Current Affairs July 16

7. Who among the following took charge as Director (Technical) of REC Ltd?
A) RK Singh
B) LK Singh
C) VK Singh
D) AK Singh
E) BK Singh
Answer: C) VK Singh

• State-owned non-banking finance firm REC Ltd said that V K Singh has taken charge as its Director (Technical) from July 12.
• Before this elevation Singh had been Executive Director in REC, holding portfolio of key business areas, including private sector project management, entity appraisal and procurement, and is also a Director on the board of REC Power Development and Consultancy Ltd.

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Awards – Daily Current Affairs July 16

8. Which Bank got award from NABARD?
A) Axis Bank
B) Indian Bank
C) DBS Bank
D) HDFC Bank
E) Karnataka Bank
Answer: B) Indian Bank

• During – 41st foundation day of NABARD
• Award – Best Performing Bank
• Under – The self-help group bank linkage program category
• To – Indian Bank
• By – NABARD
• Presented By – Tamil Nadu Minister for Finance and Human Resources Management PalanivelThiagaRajan

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Science and Technology – Daily Current Affairs July 16

9. NHPC inked how many pacts to develop green hydrogen tech in Leh, Kargil?
A) 3
B) 5
C) 1
D) 4
E) 2
Answer: E) 2

• State-owned hydro power giant NHPC has inked two agreements to develop green hydrogen technologies in Leh and Kargil.
• NHPC signed two MoUs for the development of ‘Pilot Green Hydrogen Technologies’ in line with the country’s resolve to reduce the carbon footprint in the Power Sector in Leh and Kargil districts of Union Territory of Ladakh.
• The MoUs were signed in the presence of RK Mathur, Lieutenant Governor, Union Territory of Ladakh.

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Defence – Daily Current Affairs July 16

10. Who among the following launched indigenously built Y- 3023 Dunagiri, Project 17A frigate to strengthen country’s maritime security?
A) Home Minister
B) Finance Minister
C) Law Minister
D) Defence Minister
E) External Affairs Minister
Answer: D) Defence Minister

• Raksha Mantri Rajnath Singh said the security challenges in the Indian Ocean region and Indo-Pacific are constantly increasing.
• In order to achieve the Prime Minister’s Vision of ‘SAGAR’, that is ‘Security and Growth for All in the Region’ and to protect, preserve and promote India’s National Maritime Interests, Indian Navy, Indian Coast Guard and other organisations have to increase the infrastructure and assets so that the country stay ahead of the curve in dealing with these challenges.
• Raksha Mantri said this while launching Y- 3023 Dunagiri, Project 17A frigate built by Garden Reach Shipbuilders Limited (GRSE) in Kolkata.

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National Affairs – Daily Current Affairs July 16

11. Which city to get its second cable-stayed bridge at Mir Alam Tank?
A) Hyderabad
B) Bangalore
C) Pune
D) Ahmedabad
E) Varanasi
Answer: A) Hyderabad

• With the dual motive of easing traffic and enhancing the city’s infrastructure, the Hyderabad Metropolitan Development Authority (HMDA) has proposed a cable-stayed bridge to be built across Mir Alam Tank.
• The bridge will be the second such after the DurgamCheruvu bridge.
• According to officials, the Mir Alam Tank bridge will be 2.5 km long with a central span of 350 metres and the pylons 100-metres high.
• The six lanes bridge will connect the Bengaluru National Highway with Chintalmet near Attapur with the bridge being proposed along the DMart-Gurudwara-Kishanbagh-Bahadurpura Crossroads route.

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12. Tele-Law service is being made free of cost for citizens from this year announced by who among the following?
A) Agriculture Minister
B) Finance Minister
C) Law Minister
D) Defence Minister
E) External Affairs Minister
Answer: C) Law Minister

• From this year, Tele-Law service is being made free of cost for citizens in the country announced Shri Kiren Rijiju, Minister of Law and Justice at the 18th All India Legal Services Meet at Jaipur.
• Tele–Law mainstreams legal aid to the marginalized seeking legal help by connecting them with the Panel Lawyers through the tele/video-conferencing infrastructure available at Common Service Centers (CSCs) across 1 lakh Gram Panchayats.
• For easy and direct access Tele- Law Mobile Application (both Android and IoS) has also been launched in 2021 and it is presently available in 22 scheduled languages.
• Benefitting from this digital revolution, Tele-Law has widened the outreach of legal services to 20 Lakh + beneficiaries in just five years.

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13. Which city to be the first city in SCO to be granted the rotating title of ‘Cultural and Tourism capital of SCO’ in September when India assumes SCO Presidency?
A) Hyderabad
B) Bangalore
C) Pune
D) Ahmedabad
E) Varanasi
Answer: E) Varanasi

• Varanasi will be the first city in Shanghai Cooperation Organisation (SCO) region to be granted the rotating title of ‘Cultural & Tourism capital of SCO’ under a new mechanism during India’s SCO Presidency from September 2022 to September 2023.
• Announcing this in Beijing at a press conference, SCO Secretary-General Zhang Ming said that people to people cooperation is an important area under the SCO framework and member states are very proactive and positive and implemented a large number of cooperation in cultures.
• India will take over as SCO chair from Uzbekistan at the Samarkand summit in September this year.
• Prime Minister Narendra Modi has proposed many initiatives in the realm of culture for SCO including SCO Food Festival and SCO Film Festival.
• It is not yet clear whether the SCO Summit this year will be an in-person summit, however, Mr. Zhang said that Uzbekistan has made huge investment in preparing the venue for the SCO Summit in Samarkand which will be later used as ‘SCO Park’.

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14. Hardeep Singh Puri dedicates 166 CNG stations across how many states?
A) 19
B) 10
C) 25
D) 15
E) 14
Answer: E) 14

• Petroleum and Natural Gas Minister Hardeep Singh Puri virtually dedicated 166 Compressed Natural Gas, CNG, stations across 14 states of the country.
• These CNG stations have been set up by Gas Authority of India Limited and nine of its group city gas distribution companies.
• These CNG stations commissioned at the cost of 400 crore rupees will further strengthen the gas-based infrastructure and availability of cleaner fuel in the country.

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15. Which Minister said ICAR has been instrumental in doubling of farmers’ income?
A) Agriculture Minister
B) Finance Minister
C) Law Minister
D) Defence Minister
E) External Affairs Minister
Answer: A) Agriculture Minister

• Agriculture and Farmers’ Welfare Minister Narendra Singh Tomar has said that government’s multi-dimensional approach in agricultural research in the last eight years has resulted in multi-fold increase in farmers’ income.
• He said, Indian Council of Agricultural Research has been instrumental in doubling of farmers’ income.
• He was speaking at a function to celebrate the 94th Foundation Day of Indian Council of Agricultural Research (ICAR) in New Delhi.

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16. Allow India to export foodgrains from public stock to needy nations by who among the following?
A) Agriculture Minister
B) Finance Minister
C) Law Minister
D) Defence Minister
E) External Affairs Minister
Answer: B) Finance Minister

• Finance minister Nirmala Sitharaman asked World Trade Organisation (WTO) to allow India to export foodgrainsfrom its public stockholding to nations that are facing a food crisis.
• She was speaking at a seminar on ‘Strengthening global collaboration for tackling food insecurity on the sidelines of the third G20 Finance Ministers and Central Bank Governors (FMCBG) meeting in Bali, Indonesia.
• As per WTO norms, countries are not allowed to export food grains from their public stock holdings as they are procured at subsidized rates.

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17. CIL authorises PT Bara Daya Energy to import how many lakh tonnes coal for supply to gencos?
A) 9.91
B) 5.91
C) 8.91
D) 4.91
E) 7.91
Answer: E) 7.91

• State-owned CIL has given the contract to PT Bara Daya Energy consortium to import 7.91 lakh tonnes of coal for supplying to gencos during August and September.
• Coal shortages at various power generation companies (gencos) impacted the electricity supply in the country during the peak summer months of April and May.
• According to sources, the letter for the award of the contract was issued to the L1 vendor of medium-term tenders for east and west coast supply on July 9.
• Subsequently, CIL awarded the contract for the supply of 7.91 lakh tonnes of imported coal to PT Bara Daya Energy Ltd (consortium) to the interested gencos during August and September.

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18. Centre receivedhow many crore proposals under Agri Infra Fund?
A) 54000
B) 47000
C) 23000
D) 65000
E) 45000
Answer: C) 23000

• The Centre has received proposals envisaging an investment of Rs 23,000 crore under the Agriculture Infrastructure Fund (AIF), Union Minister for Agriculture and Farmers Welfare Narendra Singh Tomar.
• The AIF set up in 2020 aims at providing a medium-long term debt financial facility till 2025-26 for investment in viable projects for post-harvest management infrastructure and community farming assets through interest subvention and financial support.

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19. PM Modi inaugurates 296-km-long Bundelkhand Expressway constructed at cost of Rs 14,850 crore and passing through how many districts of UP?
A) 8
B) 7
C) 9
D) 5
E) 10
Answer: B) 7

• PM Modi inaugurates 296-km-long Bundelkhand Expressway constructed at cost of Rs 14,850 crore and passing through 7 districts of UP.

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