Daily Current Affairs June 25

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 June 25. 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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June 25| Daily Current Affairs 2022

Banking and Finance – Daily Current Affairs June 25

1. RBI imposedhow many lakh penalty on Indian Overseas Bank?
A) 57.5
B) 56.5
C) 55.5
D) 54.5
E) 53.5
Answer: A) 57.5

• Reserve Bank imposed a penalty of Rs 57.5 lakh on state-owned Indian Overseas Bank (IOB) for non-compliance with certain norms, including those related with frauds classification and reporting.
• Based on the statutory inspection of the bank with reference to its financial position at end-March, 2020, and examination of reports, the Reserve Bank of India (RBI) imposed the penalty.
• The bank also linked certain floating rate loans to Micro and Small Enterprises, extended by it on or after October 1, 2019, to MCLR/Base Rate instead of an external benchmark.

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2. RBI extended deadline for complying with card tokenisation norms by how many months?
A) 1
B) 4
C) 2
D) 5
E) 3
Answer: E) 3

• The Reserve Bank of India (RBI) extended the card-on-file (CoF) tokenisation deadline by three months to September 30, 2022, in view of various representations received from industry bodies.
• Card-on-file, or CoF, refers to card information stored by payment gateway and merchants to process future transactions.
• Tokenisation is the process of replacing actual card details with a unique alternate code called ‘Token’- thereby enabling more secure transactions.
• The RBI now directed the merchants to implement its tokenisation norms by September 30, 2022.
• This is the third time that the central bank has extended the deadline of its implementation.

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3. Bajaj Finserv Organised___ Edition of HackRx?
A) 1st
B) 4th
C) 3rd
D) 5th
E) 2nd
Answer: C) 3rd

• Bajaj Finserv Limited, one of India’s largest financial service providers, has organized its third edition of the hackathon.
• HackRx is an annual hackathon hosted by the company, wherein students across India get an opportunity to compete against the brightest minds and be mentored by top leaders from the industry for developing business solutions.
• The two-day hackathon organized in Pune saw registrations by over 1,000 students across the country and is now set to host over 120 college students who will showcase solutions to a real time business problem.
• The third edition of HackRx builds on the success of the last two editions of the hackathon organized by Bajaj Finserv which saw the participation of over 3,000 students from India.
• The current edition of HackRx comprises ten problem statements that range from setting up in-app nudges, and SNAP product co-purchasing networks to hospital centralized reviews, mobile app credit score, and provider invoice text curation among others.
• Participating students will be divided into groups of two-five who will present a solution for the stated problem.

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4. Which of the following Bank introduced special FD scheme?
A) Canara Bank
B) ICICI Bank
C) SBI
D) HDFC Bank
E) Axis Bank
Answer: A) Canara Bank

• Canara Bank has also introduced special fixed deposit (FD) scheme for public in general.
• This special term deposit scheme introduced by the state-owned bank is for amount below ₹2 crore.
• This special Canara Bank FD scheme is valid till 30th September 2022 and the interest rate offered on this special FD scheme is 5.10 per cent per annum.
• If the investor is a senior citizen then an additional 50 bps interest rate will be given.
• Announcing about special FD scheme, Canara Bank issued a press statement citing, “Canara Bank has introduced a new Term Deposit Scheme for a period of 333 days for its customers.
• The special scheme is available for deposits of less than Rs. 2 crore.
• This scheme is valid till 30.09.2022 with an interest rate of 5.10% p.a. for General Public and 5.60% p.a. for senior Citizens.

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5. Loans worth how many trillion rupees sanctioned to MSMEs in FY22, up 182% from FY20?
A) 39.72
B) 32.79
C) 37.29
D) 73.29
E) 37.92
Answer: C) 37.29

• Total loan sanctioned to MSMEs stood at ₹37.29 trillion in FY22, an increase of roughly 5% over FY21 and 182% over FY20, as per a report by CRIF High Mark, a credit bureau.
• From ₹37.7 lakh in FY20 to ₹72.4 lakh in FY21-22, the average ticket size of MSME loans increased by 92%, the data on MSME loans showed.
• As of March 2022, the MSME industry’s portfolio outstanding was ₹22.7 lakh crore, an increase of 36% over March 2020 and up 18% from March 2021.
• As of March 2022, there were 137.4 lakh active loans for the MSME sector, an increase of 7% from March 2021 and a 43% increase from March 2020.

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Business and Economy – Daily Current Affairs June 25

6. Government extended GST compensation cess levy till which year?
A) March 2027
B) March 2023
C) March 2024
D) March 2025
E) March 2026
Answer: E) March 2026

• The Union Finance Ministry has notified the goods and services tax (GST) compensation cess extension till March 2026.
• The compensation cess will continue to be levied from July 1, 2022, to March 31, 2026, as per a new notification ‘the Goods and Services Tax (Period of Levy and Collection of Cess) Rules, 2022,’ issued by the ministry of finance.
• The levy of cess was to end on June 30.
• However, the GST Council chaired by Union Finance Minister Nirmala Sitharaman had agreed to extend the levy of cess deadline by four years till 2026.
• The revenue from the GST compensation cess is used by the central government to pay for the borrowings and arrears of compensation paid to states in the last two financial years.
• The Central government has borrowed and released Rs 1.1 lakh crore in 2020-21 and Rs 1.59 lakh crore in 2021-22 to meet the resource gap of states due to a shortfall in the release of GST compensation.
• On these borrowings, the central government paid an interest of Rs 7,500 crore during the year 2021-22. Interest cost in the current financial year is estimated at Rs 14,000 crore.

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Acquisitions and Mergers – Daily Current Affairs June 25

7. Food delivery platform Zomato to acquire Blinkit in for how many crores?
A) 4744.84
B) 4744.48
C) 4447.48
D) 4474.84
E) 4474.48
Answer: C) 4447.48

• Online food delivery platform Zomato Ltd will acquire Blink Commerce Pvt Ltd (formerly known asGrofers) for Rs 4,447.48 crore in a share swap deal as part of its strategy of investing in quick commerce business.
• The company’s board at a meeting held has approved the acquisition of up to 33,018 equity shares of Blink Commerce Pvt Ltd from its shareholders for a total purchase consideration of Rs 4,447.48 crore at a price of Rs 13.45 lakh per equity share.
• Blink Commerce Pvt Ltd runs the online quick commerce service under the Blinkit brand.
• This transaction will be carried out through issuance and allotment of up to 62.85 crore fully paid-up equity shares of Zomato, having face value of Re 1 each at a price of Rs 70.76 per equity share on a preferential basis.
• The company already holds 1 equity share and 3,248 preference shares presently in BCPL.

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Appointments – Daily Current Affairs June 25

8. RBI approved reappointment Rajiv Anandas Deputy MD for which of the following bank?
A) Canara Bank
B) ICICI Bank
C) SBI
D) HDFC Bank
E) Axis Bank
Answer: E) Axis Bank

• Axis Bank said the Reserve Bank has approved the reappointment of Rajiv Anand as the Deputy MD for a period of three years until August 2025.
• In January this year, the private sector lender had re-appointed Anand as the Deputy Managing Director for a further period of three years, from August 4, 2022, to August 3, 2025 (both days inclusive).

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Science and Technology – Daily Current Affairs June 25

9. Rare plant species found in western Himalayan region for first time in which of the following state?
A) Telangana
B) Haryana
C) Kerala
D) Tamil Nadu
E) Uttarakhand
Answer: E) Uttarakhand

• Avery rare carnivorous plant species called UtriculariaFurcellata has been found in the western Himalayan region for the first time.
• The detection of the rare species was made by a research team of the Uttarakhand Forest Department in the picturesque Mandal valley located in Chamoli district, Chief Conservator of Forest (Research) SanjivChaturvedi said.
• The discovery by the Uttarakhand forest department team consisting of Range Officer Harish Negi and Junior Research Fellow Manoj Singh has been published in the prestigious ‘Journal of Japanese Botany’, a 106-year-old journal on plant taxonomy and botany which is considered to be one of the finest in the field.

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International Affairs – Daily Current Affairs June 25

10. Chinese President Xi announces additional how many billion US dollar for Global Development Fund?
A) 1
B) 4
C) 3
D) 5
E) 2
Answer: A) 1

• Chinese President Xi Jinping announced an additional USD 1 billion to the USD 3 billion already committed by China to the Global Development and South-South Cooperation Fund as he held a high-level dialogue on global development in virtual format, a day after hosting the 14th BRICS summit.

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11. EU releasedhow many million euros to support flood victims in Bangladesh, India?
A) 1
B) 4
C) 3
D) 5
E) 2
Answer: E) 2

• The European Commission has released 2 million euros in funding for emergency relief assistance to those affected by the current floods in India and Bangladesh.
• The support will benefit affected and displaced people in the worst hit regions of the two neighbouring countries and be channelled through the EU’s humanitarian aid partners on the ground.

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National Affairs – Daily Current Affairs June 25

12. Coal Ministry targetedhow many million tonne coking coal production by 2030?
A) 150
B) 170
C) 130
D) 160
E) 140
Answer: E) 140

• A slew of transformative measures taken by the Ministry of Coal under the ‘Atmanirbhar Bharat’ initiative of Prime Minister Narendra Modi is expected to increase domestic raw coking coal production to 140 MT by 2030.
• The Ministry of Coal said that India has produced 51.7 million tonne (MT) raw coking coal during the financial year 2021-22 which is 15 percent more compared to the 44.8 MT produced during FY21.
• At the same time, domestic raw coking coal production also continued to witness an increasing trend in the current fiscal with 8.3 MT being produced as per figures up to May 2022, which is 20 percent higher compared to the 6.9 MT produced during the same period of the previous year.

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13. How many lakh houses sanctioned so far under PM AwasYojana (Urban): Govt?
A) 122.96
B) 122.69
C) 212.69
D) 112.69
E) 112.96
Answer: B) 122.69

• The government said 122.69 lakh houses have so far been sanctioned under the Pradhan MantriAwasYojana (Urban) as the initiative celebrated the seventh anniversary.
• In a statement, the Union Housing and Urban Affairs Ministry said that more than 1 crore houses have been grounded and over 61 lakh houses completed and delivered to the beneficiaries.
• The Pradhan MantriAwasYojana-Urban (PMAY-U) was launched by Prime Minister Narendra Modi on June 25, 2015.

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14. Haryana govt to promote pulses, oilseeds in place of bajra in how many districts?
A) 8
B) 10
C) 15
D) 7
E) 9
Answer: D) 7

• Under the crop diversification scheme, the state government has decided to promote pulses and oilseeds crops in place of bajra in seven districts of south Haryana.
• These districts are Bhiwani, CharkhiDadri, Mahendragarh, Rewari, Jhajjar, Hisar and Nuh.
• The scheme has set a target to grow pulses and oilseed crops at a minimum of 1 lakh acre of land across the state.
• The central government has increased the minimum support price for pulses and oilseeds, the statement quoted Additional Chief Secretary, Agriculture and Farmers Welfare Department.
• Under this scheme, pulses include moong, Arhar and Urad, and oilseed crops, including castor, groundnut and sesame can be cultivated.
• Financial assistance of Rs. 4,000 per acre will also be provided to the farmers under the scheme.
• For this, farmers will have to first register on the ”Meri FasalMeraByora” portal and the amount will be transferred to the bank accounts of the farmers after verification.
• The statement said that growing pulses will improve the health of the soil and increase fertility.

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15. Tata Power arm commissions India’s largest floating solar project in which of the following state?
A) Telangana
B) Haryana
C) Kerala
D) Tamil Nadu
E) Uttarakhand
Answer: C) Kerala

• Tata Power Solar Systems has commissioned India’s largest floating solar power project of 101.6 Megawatt Peak (MWp) in Kerala backwaters.
• The project is installed on a 350-acre water body in Kayamkulam, Kerala.
• The installation was completed within the stipulated period, despite the arduous challenges of variable water depths, high sea tides, and severe water salinity concerns.
• This project is the first in the Floating Solar Photovoltaic (FSPV) through power purchase agreement category.
• A power purchase agreement has been signed with a PSU client, wherein the entire power generated from this plant will be used by Kerela State Electricity Board (KSEB).

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16. Flipkart inks MoU with which state SERP to enable market access for FPOs, SHGs?
A) Telangana
B) Haryana
C) Kerala
D) Tamil Nadu
E)Uttarakhand
Answer: A) Telangana

• Flipkart, India’s homegrown e-commerce marketplace, signed a Memorandum of Understanding (MoU) with the Society for Elimination of Rural Poverty (SERP), Telangana to enable market access for Farmer Producer Organisations (FPOs) and Self-Help Groups (SHGs) in the state.
• The MoU was exchanged between Sandeep Kumar Sultania, Principal Secretary, Panchayat Raj & Rural Development, Telangana and SmrithiRavichandran, Vice President and Head of Grocery, Flipkart, at an event held here.
• Through this partnership, Flipkart aims to empower local farming communities and SHGs of Telangana by providing pan-India market access to more than 400 million customers on its platform.
• As part of this collaboration, Flipkart will directly source premium quality pulses, millets, staples, and spices from the local farmers, contributing to improving income and business growth.
• Flipkart will further engage with these communities through virtual and on-ground training and capacity-building initiatives to provide them with an understanding of the quality, pricing, and licenses required to be a part of the FPO ecosystem.
• SERP will extend support with infrastructure and necessary approvals to take this partnership forward.
• There are 4,36,000 SHGs consisting of 46 lakh members in the state.
• We wish to support all of them, especially women, for whom we have a target to provide loans of Rs 500 crore this year.

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17. NHAI proposed Tamil Nadu’s first animal underpass in which of the following district?
A) Erode
B) Coimbatore
C) Madurai
D) Dindigul
E) Nilgiris
Answer: D) Dindigul

• The National Highways Authority of India (NHAI) will soon send a proposal to the State Forest Department for constructing an animal underpass at a cost of Rs 3 crore between Alagarmalai and Usilampatti reserve forest area on NH 785 in Dindigul district within the next three to six months to reduce human-animal conflict.
• Though three animal underpasses at Natham and Thuvarankurichi on the same road in the district have already been approved, NHAI officials said the Alagarmalai pass will be the first one to be put to use in Tamil Nadu.

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