Daily Current Affairs May 27

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 May 27. 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.

TO PURCHASE OUR BANKING AWARENESS (2021 Edition) – CLICK HERE

May 27| Daily Current Affairs 2022

Banking and Finance – Daily Current Affairs May 27

1. _____ Financial and HPCL launch co-branded contactless RuPay Credit Card?
A) IOB
B) IB
C) SBI
D) BOB
E) UBI
Answer: D) BOB

• BOB Financial and Hindustan Petroleum (HPCL) in partnership with National Payments Corporation of India (NPCI), have announced the launch of HPCL BoB co-branded contactless RuPay Credit Card.
• The card comes with various features including rewards for spending on utilities, grocery and departmental stores.
• This card can be used across merchants and ATMs globally through the JCB network.
• BOB Financial is a wholly-owned subsidiary of the Bank of Baroda (BoB).
• Cardholders of HPCL BoBRuPay Contactless Credit Card will be able to earn up to 24 reward points (per Rs 150 spent) at HPCL fuel pumps and on the HP Pay app.
• In addition, cardholders will also benefit from a 1 per cent Fuel Surcharge Waiver on fuel purchases at HPCL pumps or on HP Pay.
• Customers who spend Rs 5,000 or more within 60 days of card issuance will get 2,000 bonus reward points.

---

2. Who among the following issued guidelines on the import of gold by qualified jewellers?
A) SEBI
B) Finance Ministry
C) EXIM
D) SIDBI
E) RBI
Answer: E) RBI

• The Reserve Bank of India (RBI) has issued guidelines for facilitating the physical import of gold through the India International Bullion Exchange IFSC (IIBX) or similar authorised exchange by Qualified Jewellers in India.
• In order to enable resident Qualified Jewellers to import gold through IIBX or any other exchange approved by IFSCA and the DGFT, RBI came up with the following directions under FEMA.
• AD (Authorised Dealer) banks may allow Qualified Jewellers to remit advance payments for eleven days for the import of Gold through IIBX in compliance to the extant Foreign Trade Policy and regulations issued under IFSC Act.
• AD banks shall ensure that advance remittance for such import through exchange/s authorised by IFSCA shall be as per the terms of the sale contract or other document in the nature of an irrevocable purchase order in terms of IFSC Act and regulations made thereunder by IFSCA.
• AD bank shall carry out all the due diligence and ensure the remittances sent are only for the bona fide import transactions through exchange/s authorised by IFSCA.
• The advance remittance for import of Gold should not be leveraged in what-so-ever form for importing Gold worth more than the advance remittance made.

---

3. RBI reduces net-worth requirement for non-bank Bharat Bill Payment units what is the net worth requirement?
A) Rs 35 crore
B) Rs 55 crore
C) Rs 25 crore
D) Rs 65 crore
E) Rs 45 crore
Answer: C) Rs 25 crore

• The RBI eased norms for non-bank entities to set up Bharat Bill Payment operating units by reducing the net-worth reqirement to Rs 25 crore, with a view to encourage more players in the segment.
• At present, a net worth of Rs 100 crore is required to obtain authorisation for a non-bank BBPOU (Bharat Bill Payment Operating Units).
• Bharat Bill Payment System (BBPS) is an interoperable platform for bill payments and the scope and coverage of BBPS extends to all categories of billers who raise recurring bills.
• The minimum net-worth requirement for non-bank Bharat Bill Payment Operating Units (BBPOUs) stands reduced to Rs 25 crore.

---

4. RBI annual report 2021-22 released,In which year RBI transferred to Mumbai?
A) 1947
B) 1937
C) 1929
D) 1934
E) 1935
Answer: B) 1937

• The Indian economy renewed its tryst with the recovery from the pandemic in 2021-22, albeit interrupted by a virulent second wave of infections and a relatively milder third wave, said the Reserve Bank of India (RBI).
• High frequency indicators already point to some loss of momentum in the recovery that has been gaining traction from the second quarter of 2021-22.
• Furthermore, steadfast policy support put a floor underneath aggregate demand and economic activity.
• Thus, as per RBI, the experience of 2021-22 has yielded valuable lessons that will illuminate the path of the Indian economy in the year ahead.
• Headline inflation spiked on repetitive supply shocks during the year, though reversion to the target was also evident as shocks receded.
• The monetary policy remained accommodative and fostered congenial financial conditions for the recovery to take root, while being vigilant that inflation remains within the target going forward.

---

5. NBFC Northern Arc Capital tied up with which of the following Bank?
A) Indian Bank
B) SBI
C) Indian Overseas Bank
D) Union Bank of India
E) Axis Bank
Answer: A) Indian Bank

• Northern Arc Capital, a non-banking finance company (NBFC) focussed on under-served households and businesses, has entered into a strategic partnership with Indian Bank.
• The partnership would enable the two financial institutions to collaborate, co-operate, co-lend loans, and widen their respective markets and customer base.
• Indian Bank would get access to Northern Arc’s n-POS platform, which helps NBFCs, fintech, digital lenders, and investors co-lend to retail borrowers.
• The platform offers fully integrated systems for partners and investors with real-time KYC validation and instant disbursement features.
• Both institutions have complementary strengths and capabilities, which can be leveraged to expand our market, diversify the product suite and ensure a high-quality customer experience.

---

Acquisitions and Mergers – Daily Current Affairs May 27

6. Adani Enterprises to acquire ___ stake in General Aeronautics?
A) 40%
B) 20%
C) 50%
D) 10%
E) 30%
Answer: C) 50%

• Adani Defence Systems and Technologies, a wholly-owned subsidiary of Adani Enterprises signed a definitive agreement to acquire a 50% stake in Bengaluru-based commercial drone maker General Aeronautics for cash consideration.
• The company will be leveraging its military drone and AI/ML capabilities and work with General Aeronautics to provide solutions for the domestic agricultural sector.
• General Aeronautics is an agri solution provider that provides robotic drones and drone-based solutions for crop protection services, crop health, precision- farming and yield monitoring using artificial intelligence and analytics for the agricultural sector.
• It was incorporated in 2016.

---

Books and Authors – Daily Current Affairs May 27

7. Who among the following publisher released Open Book: Not Quite a Memoir by KubbraSait?
A) Random House India
B) S.Chand Publishing
C) Westland Publication
D) Macmillan India Ltd
E) HarperCollins
Answer: E) HarperCollins

• Book – ‘Open Book: Not Quite a Memoir’
• Author – KubbraSait
• Publisher – HarperCollins

---

Appointments – Daily Current Affairs May 27

8. Anwar Hussain Shaik is new chair of WTO committee, he belongs to which country?
A) India
B) Pakistan
C) Afghanistan
D) Iran
E) Iraq
Answer: A) India

• After a gap of ten years, an Indian Government Officer Anwar Hussain Shaik has been made the chair of the World Trade Organisation’s Committee on Technical Barriers on Trade.
• Mr. Shaik will take this role from Elisa Maria Olmeda de Alejandro from Mexico.

---

Science and Technology – Daily Current Affairs May 27

9. NASA telescope observed a spiral galaxy ___ million light-years away from Earth?
A) 300
B) 350
C) 150
D) 250
E) 200
Answer: B) 350

• NASA’s latest Galaxies Galore image features NGC 3509, a spiral galaxy whose sweeping tidal tail (not visible in this picture) offers hints of its evolution.
• Snapped by the Wide Field and Planetary Camera 2 on the Hubble Space Telescope, the interesting galaxy lies some 350 million light-years away from Earth and is actively creating new stars.
• The Hubble observation revealed that NGC 3509 has a single, relatively undisturbed nucleus surrounded by a swirl of dust lanes, suggesting that the galaxy has not undergone a major disk-to-disk merger.
• The galaxy may have had a minor merger with a smaller galaxy, or it may be interacting with a small companion whose gravity is creating the tidal tail.

---

Defence – Daily Current Affairs May 27

10. Navy’s Nirdeshak survey vessel launched,it is __ survey vessel?
A) 1st
B) 5th
C) 3rd
D) 2nd
E) 4th
Answer: D) 2nd

• Nirdeshak, the second survey vessel of the Indian Navy, was launched at L&T Kattupalli.
• The vessel was launched by SarbaniDasgupta, wife of Vice Admiral BiswajitDasgupta, Flag Officer Commanding in Chief, Eastern Naval Command.
• Nirdeshak is the second survey vessel to be launched while the remaining two are to be delivered in 2023 and 2024.
• All four survey vessel (large) ships will enhance the hydrographic and oceanographic survey capabilities of the Indian Navy.
• The 110 metre long ships have a displacement of about 3,400 tonnes and will be equipped with state-of-the-art hydrographic equipment.
• Nirdeshak’s launch is another milestone in indigenous shipbuilding, upholding the vision of Atmanirbhar Bharat.
• Of the four survey vessels, three are built by Larsen & Toubro and one by GRSE.

---

National Affairs – Daily Current Affairs May 27

11. PM Modi launched mega projects worth ___ crore in Chennai?
A) Rs 31,400
B) Rs 41,400
C) Rs 31,300
D) Rs 41,300
E) Rs 31,000
Answer: A) Rs 31,400

• Prime Minister Narendra Modi inaugurated 1,152 houses constructed under the Light House Project in Chennai.
• The project has been built at a cost of Rs 116 crore under Pradhan Mantri Awas Yojana-Urban.
• This is Modi’s first visit to Chennai after the DMK government came to power in the state last year.
• We have gathered here to celebrate yet another glorious sector of Tamil Nadu development journey, projects worth over Rs 31,000 crores are either inaugurated or foundation stones are laid.

---

12. SJVN inked pact with Tata Power Solar Systems for ___ MW solar project in Bikaner?
A) 3000 MW
B) 1500 MW
C) 1000 MW
D) 2500 MW
E) 2000 MW
Answer: C) 1000 MW

• State-owned SJVN Ltd inked a pact with Tata Power Solar Systems to build a 1,000 MW solar project worth Rs 5,500 crore in Bikaner, Rajasthan.
• SJVN entered into an EPC agreement for 1,000 MW solar project in Bikaner, Rajasthan with M/s Tata Power Solar Systems Ltd.
• This Rs 5,500 crore-EPC contract is the country’s biggest solar contract awarded till date.

---

13. Eastern Railway achieved 100% electrification of ____ km network?
A) 2884 km
B) 2843 km
C) 2488 km
D) 2845 km
E) 2848 km
Answer: E) 2848 km

• The Eastern Railway has achieved 100 per cent electrification of its 2,848 km network with the completion of work in the 41 km Hansdiha-Godda section.
• The total electrification will help reduce carbon emission significantly and support the Indian Railway in achieving its target of making the country’s railway network carbon neutral by 2030.
• The Hansdiha-Godda section has 41 km of track length and speed trial was conducted by CRS at 103 km per hour.

---

14. India’s first Lavender Festival held in which of the following state/UT?
A) Assam
B) Ladakh
C) Manipur
D) Jammu and Kashmir
E) Meghalaya
Answer: D) Jammu and Kashmir

• Union Minister of Science and Technology Jitendra Singh inaugurated India’s first ‘Lavender Festival’ in Bhaderwah,Jammu and Kashmir.
• Bhaderwah is the potential destination of agri-tech startups of the country.
• Lavender Festival in the valley of Bhaderwah is the best example of the development of the present progressive government at the centre.
• Bhaderwah is the best place for lavender cultivation in terms of land and climate.

---

15. President Kovind addressed___ year of Smt Laxmibai Dagadusheth Halwai Datta Mandir Trust?
A) 124th
B) 125th
C) 120th
D) 130th
E) 123rd
Answer: B) 125th

• The President of India, Shri Ram NathKovind graced and addressed the 125th year celebrations of Smt Laxmibai Dagadusheth Halwai Datta Mandir Trust in Pune, Maharashtra.
• Speaking on the occasion, the President appreciated the Dagadusheth family for being instrumental in establishing the Ganpati temple and the Dattatreya temple in Pune.
• He noted that Dagadusheth was also closely associated with LokmanyaTilak in celebrating Ganpati festival.
• This festival has emerged as a source of nationalism and social harmony against the British rule.

---

---

Over All Review

DOWNLOAD TODAY’S CURRENT AFFAIRS PDF – CLICK HERE

You Must Also Read Daily Current Affairs May 26