Daily Current Affairs July 09

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 09. 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 09| Daily Current Affairs 2022

Banking and Finance – Daily Current Affairs July 09

1. IOB raised MCLR by how many basis points?
A) 10
B) 20
C) 30
D) 40
E) 50
Answer: A) 10

• State-owned Indian Overseas Bank (IOB) has increased the marginal cost of funds based lending rate across tenors by 0.10 per cent.
• The new rates, which will come to effect from July 10, will range in 6.95-7.55 per cent.
• The one-year MCLR, the benchmark for most of consumer loans such as auto, personal and home, will be raised to 7.55 per cent from the existing 7.45 per cent.
• Alongside, the two and three year MCLR are also increased by the same quantum to 7.55 per cent each.
• The overnight to six month MCLR are hiked in the range of 6.95-7.50 per cent, up by 0.10 per cent from previous rates.

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2. Bandhan Bank loans rise how manypercent to Rs 96,649 crore at end of June?
A) 10%
B) 5%
C) 20%
D) 25%
E) 15%
Answer: C) 20%

• Bandhan Bank’s advances grew by 20 per cent from a year ago to Rs 96,649 crore as of June 30.
• Total deposits of the private sector lender also grew by 20 per cent to Rs 93,057 crore by the end of Q1 FY23.
• The bank’s CASA (Current Account Savings Account) rose by 21 per cent to Rs 40,195 crore.
• Retail deposits (including CASA) witnessed a rise of 15 per cent to Rs 73,780 crore.
• Bulk deposits were up 44 per cent year-on-year at Rs 19,278 crore.
• On collection efficiency front, the lender said it rose pan-India to 96 per cent from 84 per cent at the end of June 2021.
• In March quarter, the collection efficiency of the bank was at 99 per cent.

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3. Bank of India expects to recover how many crores of bad loans per quarter?
A) 500
B) 2000
C) 1500
D) 1000
E) 2500
Answer: E) 2500

• Bank of India (BoI) has set an ambitious Rs 2,500 crore quarterly recovery target for the current fiscal year as the public sector bank looks to expand after years of stagnation.
• CEO AK Das said he expects the loan book to grow in double digit this year and hopes to keep slippages at an average of Rs 600 crore per quarter.
• The public sector bank reported gross NPAs at 9.98% of loans as of March 2022, down from 10.46% in the quarter ended December.
• He expects the bank’s NPA to be below 8% in March 2023 due to a combination of improving bad loan recoveries and restrained fresh slippages.

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4. Which of the following bank to offer collateral free loans to start-ups in Karnataka?
A) Axis
B) SBI
C) HDFC
D) ICICI
E) Bank of Baroda
Answer: B) SBI

• The Karnataka Digital Economy Mission (KDEM) has partnered with State Bank of India to support the start-up ecosystem of Karnataka.
• KDEM and SBI exchanged a memorandum of understanding (MoU) wherein SBI will be now partnering with the Fintech Innovation hub at Mangaluru and leveraging the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTSME) scheme to provide funding support to the start-ups in the state.
• SBI will be opening an exclusive start-up desk in the ‘Innovation Tower’ at HSR layout, Bengaluru to offer services to start-ups.
• The branch will offer up to ₹2 crore loan to startups without collateral.
• The important feature of this partnership is to extend CGTSME to ELEVATE Winners and to AIF-supported start-ups of Karnataka.
• The Elevate-Idea2PoC was launched by the Department of Electronics, IT, BT, and S&T, Government of Karnataka to identify and nurture innovative start-ups and provide them the necessary boost at various stages through funding or mentoring.
• So far, the programme has 750 ELEVATE winners, and with this MoU more than 1,000 start-ups will be supported.

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5. Central Bank of India hiked ___ interest rates for 15-30 days?
A) 2.80%
B) 3.50%
C) 2.64%
D) 2.90%
E) 3.90%
Answer: D) 2.90%

• Central Bank of India has hiked interest rates on fixed deposits of less than ₹2 Cr, and as per its official website, the new rates shall be in force.
• The interest rate on fixed deposits maturing in 15–30 days has remained the same at 2.90 per cent, while the bank will continue to give a 2.75 per cent interest rate on deposits maturing in 7–14 days.
• Term deposits maturing in 46 – 90 days now pay an interest rate of 3.35 per cent, up from 3.25 per cent, while deposits maturing in 31 – 45 days now pay an interest rate of 3.00 per cent, up from 2.90 per cent.
• The interest rate that the Central Bank of India will now pay on deposits that mature in 91 to 179 days has increased from 3.80 per cent to 3.85 per cent, a 5 basis point increase.
• Fixed deposits with maturities between 180 and 364 days will now pay an interest rate of 4.40 per cent, up from 4.35 per cent, while term deposits with maturities between 1 year and less than 2 years will now pay an interest rate of 5.25 per cent, up from 5.20 per cent—a 5 basis point hike.
• Central Bank of India will continue to give an interest rate of 5.30 per cent on deposits maturing in 2 years to less than 3 years, and an interest rate of 5.35 per cent on deposits maturing in 3 years to less than 5 years.
• Central Bank of India will continue to pay an interest rate of 5.60 per cent on long-term deposits with a maturity period of five years or more and up to ten years.

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6. Punjab & Sind Bank hiked ____% interest rates for 7 to 45 days?
A) 2.80%
B) 3.50%
C) 2.64%
D) 2.90%
E) 3.90%
Answer: A) 2.80%

• The interest rate on fixed deposits below ₹2 Cr has increased thanks to a move by public sector lender Punjab & Sind Bank (PSB).
• The bank will continue to give a 2.80% interest rate on deposits maturing in 7 to 45 days, and it has kept a 3.70% interest rate constant on term deposits maturing in 46 to 90 days.
• Fixed deposits maturing in 91 to 179 days will continue to provide a 3.90 per cent interest rate, while those maturing in 180 to 269 days will continue to offer a 4.45 per cent interest rate.
• On deposits maturing in 270–364 days, PSB will continue to give an interest rate of 4.50 per cent.
• However, the bank has increased the interest rate on term deposits maturing in 1–2 years by 10 basis points, from 5.25 per cent to 5.35 per cent.
• The bank increased interest rates on deposits maturing in more than two years but less than three years from 5.35 per cent to 5.40 per cent, and on deposits maturing in three years to five years from 5.55 per cent to 5.60 per cent, an increase of five basis points.
• While the bank increased the interest rate on deposits between five and ten years from 5.55 to 5.60 per cent.

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7. RBI imposed how many lakh monetary penalty on Bank of India?
A) 93
B) 55
C) 70
D) 65
E) 80
Answer: C) 70

• The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 70 lakh on the Bank of India for violation of Know Your Customer (KYC) related regulations.
• Bank of India has been penalised for non-compliance with certain provisions of the ‘Reserve Bank of India – (Know Your Customer (KYC)) Direction, 2016’ and circular instructions on ‘Compliance Function in Banks’ issued by RBI.

Rs 5.72 crore monetary penalty on Federal Bank Limited:

• The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 5.72 crore on Federal Bank Limited for non-compliance with the central bank’s direction related to the delivery of financial services.
• Federal Bank of India has been penalised for non-compliance with the provisions of ‘Reserve Bank of India (Financial Services provided by Banks) Directions, 2016’ issued by RBI.

Imposes restrictions, withdrawal caps on 4 co-op banks:

• The Reserve Bank imposed several restrictions, including a cap on withdrawals for the depositors, on four cooperative banks for six months given their deteriorating financial positions.
• The banks on which restrictions or Directions under the Banking Regulation Act, 1949 have been imposed are Ramgarhia Co-operative Bank, New Delhi; SahebraoDeshmukh Co-operative Bank, Mumbai; SangliSahakari Bank, Mumbai; and SharadaMahila Co-operative Bank Limited, Tumkur, Karnataka.
• In the case of Ramgarhia Co-operative Bank and SahebraoDeshmukh Cooperative Bank, the cap is Rs 50,000 per depositor, while it is Rs 45,000 in the case of SangliSahakari Bank.
• A depositor in SharadaMahila Co-operative Bank can withdraw a maximum of Rs 7,000.

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Business and Economy – Daily Current Affairs July 09

8. India posts record how many crores Cr worth defence exports in 2021-22?
A) 17000
B) 14000
C) 15000
D) 18000
E) 13000
Answer: E) 13000

• India exported defence items and technology worth a record Rs 13,000 crore in 2021-22, an impressive 54.1 per cent rise over the previous year, a top defence ministry official.
• The country’s defence exports are chiefly to the US, the Philippines and other countries in the South-East Asia, the Middle-East and Africa.
• The exports in 2021-22 were almost eight times of what they were about five years back.
• India’s defence exports were worth Rs 8,434 crore in 2020-21, Rs 9,115 crore in 2019-20 and Rs 2,059 crore in 2015-16.

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9. Sale of national flag exempt from GST, GST implemented year?
A) 2014
B) 2017
C) 2019
D) 2018
E) 2015
Answer: B) 2017

• Sale of the Indian national flag, irrespective of whether machine made or of polyester, is exempt from the Goods and Services Tax (GST).
• Hand-woven, hand-spun national flags made of cotton, silk, wool or Khadi are already exempt from GST.
• In an office memorandum, the Revenue Department clarified that polyester or machine-made tricolour too would be exempt from the levy following amendments to the ‘Flag Code of India, 2002’ in December last year.

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10. IREDA committed to extend loan facilities to MSMEs in renewable sector,IREDA founded year?
A) 1985
B) 1978
C) 1986
D) 1987
E) 1989
Answer: D) 1987

• Shri Pradip Kumar Das, Chairman & Managing Director (CMD), Indian Renewable Energy Development Agency Limited (IREDA), while speaking at the “MSME Banking Conclave 2022” assured that IREDA is committed to increasing participation of Micro, Small & Medium Enterprises (MSMEs) in Renewable Sector by offering loan facilities.
• While MSMEs only represent 1.86% of the company’s total loan assets of Rs. 33,884 crores (ending May 2022), IREDA is attempting to address the issues of MSMEs in order to increase their participation in RE sector.
• He emphasized that the target of 500 GW of Renewable Energy capacity by 2030 cannot be achieved without the considerable participation of MSMEs.

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11. Sebi imposedhow many lakhs fine on Bajaj Hindusthan Sugar for disclosure lapses?
A) 10
B) 25
C) 20
D) 15
E) 30
Answer: A) 10

• Sebi imposed a penalty of Rs 10 lakh on Bajaj Hindusthan Sugar Ltd for not disclosing closure orders with respect to its certain distilleries and imposition of penalty by Central Pollution Control Board.
• The company has been directed to pay the fine within 45 days.
• Further, imposition of penalty of Rs 1.96 crore on certain distilleries was also not disclosed during the financial year 2019-20.

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Appointments – Daily Current Affairs July 09

12. JK Tyre and Industries Ltd appointedwho among the following as President?
A) AnshumanSinghania
B) RaghupatiKathuria
C) Anuj Kathuria
D) AnshumanKathuria
E) RaghupatiSinghania
Answer: C) Anuj Kathuria

• JK Tyre& Industries Limited appointed Mr. Anuj Kathuria as President (India), reporting to Chairman & Managing Director, DrRaghupatiSinghania and Mr. AnshumanSinghania, Managing Director, based out of Delhi.
• Anuj Kathuria brings with him 31 years of rich experience, having worked in senior management positions in leading and reputed auto companies, i.e. Ashok Leyland and Tata Motors.

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Science and Technology – Daily Current Affairs July 09

13. DPIIT along with whom set up digital platform for startups, investors to sign deals quickly?
A) EXIM
B) SEBI
C) NABARD
D) RBI
E) SIDBI
Answer: E) SIDBI

• The government will set up a dedicated digital collaboration platform for startups and investors to facilitate and sign deals quickly.
• The Department of Promotion for Industry and Internal Trade (DPIIT) will launch the platform along with the Small Industries Development Bank of India (SIDBI).
• This was approved in one of the national startup advisory council meetings.
• It is a match-making platform for startups and investors and it is in the final stages of closing.
• We will launch it in the next two months.

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National Affairs – Daily Current Affairs July 09

14. National Monuments Authority recommended how many sites associated with BabasahebAmbedkar to be declared as Monuments of National importance?
A) 5
B) 2
C) 4
D) 3
E) 6
Answer: B) 2

• National Monuments Authority has recommended two sites associated with architect of the Indian Constitution BabsahebAmbedkar to be declared as Monuments of National importance.
• Culture Ministry said, Sankalp Bhumi Banyan tree campus in Vadodara, where Dr. Ambedkar had taken a resolve to eradicate untouchability on 23th September, 1917 be declared as Monument of National Importance.
• This place is more than hundred years old and a witness to the beginning of social respect revolution heralded by Dr. Ambedkar.
• The National Monuments Authority has also recommended a place in Satara in Maharashtra where DrAmbedkar received his primary education in Pratap Rao Bhosle High School to be declared as monument of National importance.
• The school register still shows with pride a child student Bhim Rao’s signature in Marathi.

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15. Which of the following state/UT approvedRs 132 crore to provide shoes, socks to govt school students?
A) New Delhi
B) Odisha
C) Jharkhand
D) Karnataka
E) Uttarakhand
Answer: D) Karnataka

• Karnataka Chief Minister BasavarajBommai said every student studying in government schools would be provided a pair of shoes and two sets of socks, and he has approved Rs 132 crore for that purpose With no funds provided in the budget and a delay in the government’s decision-making, the Bommai administration has been facing criticism on the issue of providing the shoes and socks.

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16. India’s first e-waste eco-park to be developed in Holambi Kalan in which of the following state/UT?
A) New Delhi
B) Odisha
C) Jharkhand
D) Karnataka
E) Uttarakhand
Answer: A) New Delhi

• Delhi Environment Minister Gopal Rai held a joint review meeting with the officials of the Environment Department and the Delhi Pollution Control Committee regarding the construction of an e-waste eco-park.
• Rai said India’s first e-waste eco-park will be developed in Holambi Kalan in Delhi in an area of about 21 acres.
• 11-member steering committee has been formed and Delhi State Industrial and Infrastructure Development Corporation (DSIIDC) has been made its implementing agency.
• The Park will be ready in about 23 months.
• Delhi produces over two lakh tonnes of e-waste every year, or about 9.5 percent of the total amount produced in India, and only five per cent of the generated e-waste is properly recycled.

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17. Prime Minister to inaugurate, lay foundation stone of various development projects worth over Rs 16 thousandcr in which of the following state/UT?
A) New Delhi
B) Odisha
C) Jharkhand
D) Karnataka
E) Uttarakhand
Answer: C) Jharkhand

• Prime Minister Narendra Modi will inaugurate and lay foundation stone of various development projects worth more than 16 thousand crore rupees at Deoghar in Jharkhand.
• These projects will boost infrastructure development, enhancing connectivity and give an impetus to ease of living in the region.
• It will also help in significantly improving socio-economic prosperity in the region.
• The Prime Minister will inaugurate the Deoghar Airport to provide direct connectivity to Baba BaidyanathDham, which is an important religious destination for devotees from all over the country.
• It has been constructed at an estimated cost of around 400 crore rupees.

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18. Union Health Ministry and Panchayati Raj Ministry sign MoU with aim to eliminate TB in India by which year?
A) 2020
B) 2040
C) 2030
D) 2035
E) 2025
Answer: E) 2025

• Union Health Ministry and Panchayati Raj Ministry have signed MoU with the aim to eliminate TB in India.
• The MoU was signed by Dr. Bijaya Kumar Behera, Economic Adviser on behalf of the Ministry of Panchayati Raj and Dr. P Ashok Babu, Joint Secretary on behalf of the Ministry of Health.
• The MoU will forge inter-Ministerial collaboration and strategic partnerships with the aim to achieving the Prime Minister’s ambitious target of eliminating TB in India by 2025.

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19. World famous BahudaYatra the Return Car festival being held at Puri in which of the following state/UT?
A) New Delhi
B) Odisha
C) Jharkhand
D) Karnataka
E) Uttarakhand
Answer: B) Odisha

• In Odisha, the world-famous BaahudaaYatra or the Return Car festival is being held in the holy city of Puri.
• The occasion marks the return of Lord Jagannath and His siblings back to Sri Mandir from the Sri Gundicha Temple, after a brief sojourn.
• All the three chariots are ready to carry the deities with thousands of devotees eager to pull the Raths back.

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20.Petrol vehicles will vanish from the country after how many years?
A) 8
B) 4
C) 6
D) 5
E) 10
Answer: D) 5

• Union minister Nitin Gadkari has expressed confidence that green fuel will end the need for the use of petrol in vehicles in the country after five years.
• Gadkari also made an appeal to agriculture researchers and experts to work on increasing agricultural growth from 12 per cent to 20 per cent in the next five years.

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