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. 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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February 5 | Daily Current Affairs 2021

BANKING AND FINANCE

1. According to RBI Monetary Policy, What is the percent of Repo Rate?
A) 4
B) 5
C) 1
D) 2
E) 3
Answer: A) 4

• The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) kept its repo rate unchanged at 4 per cent while maintaining an ‘accommodative stance’ as long as necessary at least through the current financial year to the next year.
• The RBI governor announced that the decision was taken unanimously and added that the reverse repo rate too was kept unchanged at 3.35 per cent.
• The central bank had slashed the repo rate by 115 basis points since late March 2020 to support growth. This is the fourth time in a row that the MPC decided to keep the policy rate unchanged.
• The central bank also sees FY22 GDP growth at 10.5 per cent.
• The RBI governor said that the inflation has eased below the level of 6 per cent.
• The outlook on growth has also improved significantly.
• This is the first MPC meeting after the presentation of the Union Budget 2021-22.
• The six-member MPC headed by RBI Governor Shaktikanta Das meets every two months to analyze the state of the Indian economy and inflation and address the monetary issues in the country.
• This month, it began the 3-day bi-monthly meeting, February 3.
• Das said that the CPI projection is revised to 5.2 per cent for Q4 FY21 and CPI inflation is pegged at 5-5.2 per cent in H1 FY22.
• Shaktikanta Das announced an integrated ombudsman scheme for customer grievance redressal, which will be rolled out by June 2021.

2. The Reserve Bank of India (RBI) proposed to provide funds to which finance sector from banks under on tap TLTRO scheme for lending to some stressed sectors?
A) Payments Banks
B) Small Finance Banks
C) NBFCs
D) Private Sector Banks
E) Public Sector Banks
Answer: C) NBFCs

• The Reserve Bank of India (RBI) proposed to provide funds to non-banking finance companies (NBFCs) from banks under on tap TLTRO scheme for lending to some stressed sectors.
• In October last year, the RBI had announced on tap targeted long term repo operations (TLTRO) scheme for banks.
• It had said to conduct on tap TLTRO with tenors of up to three years for a total amount of up to Rs one lakh crore at a floating rate linked to the policy repo rate.
• The scheme is available till March 31, 2021.
• RBI proposes 24×7 helpline for digital payment services.
• The Reserve Bank of India announced the setting up of a 24×7 helpline for digital payment services as well as enabling participation in CTS clearing across all bank branches in the country.
• The helpline will, in addition to building trust and confidence, also reduce expenditure on both financial and human resources otherwise incurred for addressing queries and grievances.
• Paper on regulatory framework for lenders in MFI space.
• The Reserve Bank of India (RBI) would come out with a consultative document “harmonising the regulatory frameworks for various regulated lenders in the microfinance space” in March 2021.

Reserve Bank of India:
Act: Reserve Bank of India Act, 1934
Headquarters– Mumbai, Maharashtra
Governor– Shaktikanta Das
Deputy Governors– 4 (Bibhu Prasad Kanungo, Mahesh Kumar Jain, Michael Debabrata Patra, M. Rajeshwar Rao)

RBI – NBFCs to get funds under on tap TLTRO scheme for incremental lending.

APPOINTMENTS

3. Who is appointed as MD & CEO of Mahindra & Mahindra?
A) Anish Shah
B) Akash Shah
C) Ashok Shah
D) Anbu Shah
E) Aravind Shah
Answer: A) Anish Shah

• Mahindra & Mahindra said Anish Shah, the current Deputy Managing Director and Group CFO of the Mahindra Group, will assume the role of Managing Director and Chief Executive Officer of the company from April 2.
• Pawan Goenka is the current MD and CEO of M&M.
• The company also announced the appointment of Manoj Bhat as the Group Chief Financial Officer with effect from April 2.

Mahindra & Mahindra:
Headquarters: Mumbai, Maharshtra
Founded: 1945
CEO: Anand Mahindra
Anish Shah – MD and CEO of Mahindra & Mahindra

INTERNATIONAL AFFAIRS

4. India and which country have agreed to forge deeper engagement in the field of renewable energy?
A) UK
B) USA
C) Iraq
D) Iran
E) Bahrain
Answer: E) Bahrain

• India and Bahrain have agreed to forge deeper engagement in the field of renewable energy.
• The Joint Working Group in the field of Renewable Energy which held its first meeting in virtual format, underscored the importance of renewable energy to meet climate change goals.
• The two sides presented the initiatives taken, progress made and future targets set by their governments.
• They also discussed opportunities available in the sector.
• They agreed to share experiences, expertise and best practices in the field of renewable energy.
• They decided to have greater engagement in capacity building and focused cooperation.
• A Memorandum of Understanding was signed in July 2018 between India and Bahrain for promoting bilateral cooperation in the field of Renewable Energy.

Bahrain:
Capital: Manama
Currency: Bahraini dinar

India + Bahrain – Renewable Energy.

NATIONAL AFFAIRS

5. Which state government announced waiver of Rs 12,110 crore farm loans availed by 16.43 lakh farmers from cooperative banks?
A) Madhya Pradesh
B) Karnataka
C) Nagaland
D) Andhra Pradesh
E) Tamil Nadu
Answer: E) Tamil Nadu

Tamil Nadu:
Capital : Chennai
CM : Edappadi K. Palaniswami
Governor : Banwarilal Purohit

TN – Announce loan waiver for over 1.6 mn farmers worth Rs 12,110 cr.

6. Karnataka signed memorandum of understanding with how many aerospace and defence companies at the 13th edition of Aero India show?
A) 36
B) 35
C) 21
D) 34
E) 23
Answer: D) 34

• Karnataka signed memorandum of understanding with 34 aerospace and defence companies at the 13th edition of Aero India show in Bengaluru.
• The newly signed MoU’s with Bengaluru based companies is expected to attract an investment of Rs 2,464 crore and generate 6,462 direct employment opportunities.
• Some of these firms have promised to invest heavily in the sector such as Abhyuday Bharat Mega Defense Cluster (Rs 1,000 crore) , Gopalan Aerospace Pvt Ltd
  (Rs 438 crore) , Alpha Design Technology and Tesbl Aerospace Corporation
  (Rs 250 crore) .

Karnataka:
Capital : Bengaluru
CM : B. S. Yeddyurappa
Governor : Vajubhai Vala

Karnataka – Sign MoU with 34 aerospace & defence firms at Aero India.

7. Assam Chief Minister Sarbananda Sonowal inaugurated the first heliport of the state in which district?
A) Darrang
B) Majuli
C) Barpeta
D) Cachar
E) Baksa
Answer: B) Majuli

• Assam Chief Minister Sarbananda Sonowal inaugurated the first heliport of the state in Majuli district.
• The heliport having facility for simultaneous landing of three helicopters was constructed at an expenditure of Rs 50 lakh.

Assam:
Capital : Dispur
CM : Sarbananda Sonowal
Governor : Jagdish Mukhi

Sarbananda Sonowal – First heliport of Assam in Majuli district.

8. Indian Navy receives how many Mk III Advanced Light Helicopters from HAL?
A) 5
B) 4
C) 3
D) 2
E) 1
Answer: C) 3

• Hindustan Aeronautics Limited (HAL) has handed over three Advanced Light Helicopters (ALH) Mk III to Indian Navy and two ALHs to Indian Coast Guard as part of its 16 ALHs contract during the ongoing Aero India 2021 at Air Force Station Yehalanka, Bengaluru.
• The helicopters were handed over by Chairman and Managing Director of HAL Shri R Madhavan to Chief of Naval Staff Admiral Karambir Singh and Director General Coast Guard Shri K Natarajan in the presence of Raksha Mantri Shri Rajnath Singh.
• The Mark-III Advanced Light Helicopter (ALH) is meant for coastal security.
• Out of the 16 Mk-III helicopters, HAL delivered three to Indian Navy Chief Admiral Karambir Singh at Aero India.
• The Indian Navy had ordered 16 Mk-III to supplement its ageing and depleting fleet of Alouettes (Chetaks) – from HAL.
• The Mk-III ALH are also equipped with an indigenous low frequency dunking sonar (LFDS) developed by Kochi-based Naval Physical and Oceanographic Laboratory.

Indian Navy – Three Mk III Advanced Light Helicopters from HAL.

9. Which state will get the country’s first thunderstorm research testbed?
A) Odisha
B) Madhya Pradesh
C) Tamil Nadu
D) Maharashtra
E) Andhra Pradesh
Answer: A) Odisha

• Odisha’s Balasore will get the country’s first thunderstorm research testbed.
• The objective of setting up the thunderstorm testbed is to minimalise human fatalities and loss of property due to lightning strikes.

Odisha:
Capital : Bhubaneswar
Chief Minister – Naveen Patnaik
Governor – Ganeshi Lal

IMD:
Abbreviation: The India Meteorological Department
Founded: 1875
Headquarters: New Delhi, Delhi
Director General of Meteorology: Dr. Mrutyunjay Mohapatra

Odisha’s Balasore – Get country’s first thunderstorm research testbed.

10. Which edition of Kolkata International Book Fair will be held in July 2021 at the Central Park Ground of Salt Lake?
A) 42
B) 45
C) 51
D) 42
E) 24
Answer: B) 45

• The 45th Kolkata International Book Fair will be held in July 2021 at the Central Park Ground of Salt Lake.
• The Publishers and Booksellers Guild announced that the decision has been taken in view of the Board exams and the ensuing Assembly Elections in
  West Bengal.
• This year the focal theme country is Bangladesh to mark the country’s Golden Jubilee Year of Independence and the Centenary of Bangabondhu Sheikh Mujibur Rahman.
• 125th Birth year of Netaji Subhas Chandra Bose and Birth Centenary of Satyajit Ray will also be celebrated in the Book Fair.
• Earlier, the Kolkata International Book Fair was deferred due to the pandemic situation.

July 2021 – 45th Kolkata International Book Fair.

11. The Ministry of Defence and Bharat Electronics Limited BEL has signed a contract for procurement of Software Defined Radio Tactical (SDR-TaC) worth over how much amount?
A) ₹1,000 crore
B) ₹5,000 crore
C) ₹4,000 crore
D) ₹3,000 crore
E) ₹2,000 crore
Answer: A) ₹1,000 crore

• The Ministry of Defence (MoD) and Defence Public Sector Undertaking (DPSU) Bharat Electronics Limited (BEL) has signed a contract for procurement of Software Defined Radio Tactical (SDR-TaC) worth over ₹1,000 crore, during the ‘Bandhan’ ceremony at Aero India 2021 at Air Force Station Yehalanka in Bengaluru.
• The SDR-Tac, jointly developed by Navy, BEL, Defence Research and Development Organisation (DRDO) and DEAL, will bring strategic depth to the Armed Forces.
• The delivery will take place within three years.
• The BEL is already supplying SDR-Naval Combat (NC) and SDR-Air is under user evaluation trial.

What is SDR-Tac?

• The SDR-Tac is a four Channel Multi-mode, Multi-Band, 19’’ Rack mountable, shipborne Software Defined Radio system.
• It is intended to serve ship to ship, ship to shore and ship to air voice and data communication for network-centric operations.
• It supports the simultaneous operation of all the four channels covering V/UHF and L Band.
• This SDR system houses multiple types of waveforms for narrowband and wideband applications.

Ministry of Defence:
Minister: Rajnath Singh
Constituency : Lucknow, Uttar Pradesh

BEL:
Abbreviation: Bharat Electronics Limited
Founded: 1954
Headquarters: Bengaluru, Karnataka
Chairman & MD : M V Gowtama

Defence Ministry – Sign contract worth ₹1,000 cr with BEL at Aero India 2021.

12. Which armed forces hosted a two day Global Chiefs’ of Air Staff Conclave themed ‘Leveraging Aerospace Power for Security and Stability’ ?
A) Indian Coast Guard
B) CRPF
C) Indian Air Force
D) Indian Navy
E) Indian Army
Answer: C) Indian Air Force

• Indian Air Force hosted a two day Global Chiefs’ of Air Staff Conclave on 03 & 04 February 21 themed ‘Leveraging Aerospace Power for Security and Stability’ on Day 2 & 3 of Aero India 21.
• The conclave was inaugurated by Hon’ble Raksha Mantri, Shri Rajnath Singh on 03 Feb 21.
• In his inaugural address, RM stated that the CAS conclave brought together Chiefs and senior dignitaries from Air Forces across the world and was a befitting event as part of Aero India, with primary focus on Air Power & associated technologies.
• Chief of Defence Staff, Gen Bipin Rawat graced the inaugural session.
• The Conclave was organised in a hybrid format to obviate restrictions imposed due to the Covid-19 pandemic and was attended by close to 50 countries.
• Between 03 & 04 Feb, Chiefs/ Commanders of Air Forces of 28 countries joined the Conclave. The Conclave was conceived for exchange of ideas and best practices on themes of contemporary relevance in the aerospace domain.
• Countries participated from across continents with Air Forces from the Americas, Europe, Middle East, West Asia, Central Asian republics, South East Asia, Africa, Indian Ocean region and the Indo Pacific.
• The three sessions of the CAS Conclave provided a forum to discuss important issues with respect to aerospace strategy, emerging technologies impacting the battle space and issues pertaining to security and stability of the Global Commons.
• These sessions were planned to address themes of “Disruptive Technologies and Innovations”, “Air Power in the Indo-Pacific Region” and “Air Power and Aerospace Strategy”.

Ministry of Defence:
Minister : Rajnath Singh
Constituency : Lucknow, Uttar Pradesh

Shri Rajnath Singh – Inaugurate Global Chiefs’ Of Air Staff Conclave.

13. Which Minister has released the monthly PDRD Grant of over 6 thousand 1 hundred 95 crore rupees to the States?
A) Civil Aviation Minister
B) Women & Child Development Minister
C) External Affairs Minister
D) Home Minister
E) Finance Minister
Answer: E) Finance Minister

• The Department of Expenditure, Ministry of Finance has released monthly Post Devolution Revenue Deficit (PDRD) Grant of Rs. 6,195.08 crore to the States.
• This was the 11th instalment of the PDRD grant released to the States.
• So far, an amount of Rs. 68,145.91 crore has been released to eligible States as Post Devolution Revenue Deficit Grant in the current financial year.
• The Post Devolution Revenue Deficit Grants are provided to the States under Article 275 of the Constitution.
• The grants are released in monthly instalments as per the recommendations of the Fifteenth Finance Commission to meet the gap in Revenue Accounts of the States post devolution.
• The Commission has recommended PDRD grants to 14 States.
• The eligibility of States to receive this grant and the quantum of grant was decided by the Commission based on the gap between assessment of revenue and expenditure of the State after taking into account the assessed devolution for the financial year 2020-21.
• The Fifteenth Finance Commission has recommended a total Post Devolution Revenue Deficit Grant of Rs. 74,341 crore to 14 States in the financial year 2020-21.
• Out of this, an amount of Rs. 68,145.91 crore (91.66%) has been released so far.
• The States that have been recommended Post Devolution Revenue Deficit Grant by the Fifteenth Finance Commission are: Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.

Finance and Corporate Affairs:
Minister : Nirmala Sitharaman
Constituency : Rajya Sabha MP,Karnataka

Finance Minister – Revenue Deficit Grant of Rs. 6,195 crore released to 14 States.

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