Daily Current Affairs May 18
Table of Contents
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 18. 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.
May 18| Daily Current Affairs 2022
Sports – Daily Current Affairs May 18
1. Odisha won __ HI Senior Women National C’ship title?
Answer: A) 12th
- Odisha were crowned as the champions of the 12th Hockey India Senior Women National Championship 2022 in Bhopal, Madhya Pradesh with a thrilling 2-0 victory over Karnataka in the final of the competition.
Banking and Finance – Daily Current Affairs May 18
2. Which of the following Bank will launch ‘super app’ in a month’s time?
A) DBS Bank
B) State Bank of India
C) HDFC Bank
D) Axis Bank
E) Canara Bank
Answer: E) Canara Bank
- After a five years hiatus, Canara Bank declared a dividend, following a good set of numbers in its latest quarter.
- L V Prabhakar who took over as the MD and CEO of the bank in February 2020 says, this year the bank is targeting a balance sheet in excess of ₹20 lakh crore with a healthy and profitable double-digit growth in its lending portfolio, even as he says Canara is poised for sustainable growth.
- The bank is also launching a super app in a month’s time.
- While we have a good app currently, we will in the next month or so, launching a super app providing over 250 plus features for the greater convenience of our customers.
- Already, 8,000 people are testing the app, including employees, customers.
- We will launch within a month.
3. NABARD sanctionedhow many crores under RIDF, enhances rural economy of J&K?
A) Rs 1452 crore
B) Rs 1245 crore
C) Rs 1542 crore
D) Rs 1524 crore
E) Rs 1254 crore
Answer: C) Rs 1542 crore
- Aligning with its vision and mission, ‘Development Bank of the Nation for fostering rural prosperity,’ the National Bank for Agriculture and Rural Development (NABARD) has enhanced support to various sectors of rural economy for sustainable growth and development of Union Territories of Jammu and Kashmir and Ladakh during 2021-22.
- NABARD made a stellar performance in sanctioning projects for rural infrastructure development under RIDF.
- The sanctions during the financial year 2021-22 were Rs 1542 crore, representing an increase of 92.75 per cent over the last year.
- The farmers in their agricultural production activities, Short Term Refinance to the tune of Rs 75.58 crore was extended to them during 2021-22.
- For boosting capital formation, Long Term Refinance of Rs.59.55 crore was also extended to the Regional Rural Banks.
- Further, as part of Additional Emergency Working Capital for Farmers under AtmaNirbhar Package of Government of India, NABARD extended liquidity support of Rs 150.00 crore to JKGB.
- An interest subvention of Rs. 24.70 crore was also disbursed to RRBs and Cooperative banks in the UT.
- During the year, an amount of Rs 460.49 lakh was sanctioned and Rs 216.35 lakh were disbursed towards hosting of activities such as FLCs, demonstration vans, Micro ATMs, PoS and various types of capacity building projects under Financial Inclusion initiatives.
- Besides, NABARD supported 18 Skill Development Programmes on different trades involving 525 candidates were supported during 2021-22.
- NABARD sanctioned an assistance of Rs. 825.78 lakh towards promotion of 21 FPOs under Central Sector Scheme (CSS) and 03 FPOs under Producer Organization Development Fund (Interest Differential) during the period.
- In order to strengthen the existing FPOs, several training programs and workshops were organized both at UT and district level.
- Similarly, 7 projects have been sanctioned under NABARD’s Farm Sector Promotion Fund to support innovative technology, transfer projects like Indoor vertical expansion of Saffron, Promotion of Lavender Farming, Making of Decorative items from Sericulture waste etc.
- In its commitment towards institutional development of RFIs under STCSS, recapitalization assistance to the tune of Rs.255.71 crore has been released by the UT government to three DCCBs (ACCB, BCCB and JCCB).
- NABARD has released the Center government’s share amounting Rs 111.22 crore.
- During the year, NABARD contributed Rs 1892.73 crore under various components of Development Package for Jammu and Kashmir which inter alia included Infrastructure Development, Promotion of FPOs under Central Sector Scheme, Promotion of SHGs and JLGs, Support for GI registration, Refinance Support, Atmanirbhar Bharat Package, Credit for area expansion under Walnut, Saffron and Apple.
4. RBI rejected how many banking licence applications?
Answer: B) 6
- The Reserve bank of India (RBI) has rejected six applications of licenses to set small and universal bank licenses after finding them unsuitable.
- Bansal’s firm Chaitanya India Fin Credit Pvt. Ltd was among 11 applications for setting up a bank under the RBI guidelines for on-tap licensing of universal banks and small finance banks.
- The five other applications that were also rejected by the central bank are UAE Exchange and Financial Services Ltd, REPCO Bank and a consortium led by former Citibank employee Pankaj Vaish.
- For small finance bank licence, RBI has found unsuitable applications of VSoft Technologies Pvt. Ltd and Calicut City Service Co-operative Bank.
- These are Cosmea Financial Holdings Pvt. Ltd, Tally Solutions Pvt. Ltd, West End Housing Finance Ltd, Akhil Kumar Gupta and DvaraKshetriyaGramin Financial Services Pvt. Ltd, all being considered for small finance Bank licences.
5. Which Life Insurance Company launched Sustainable Equity Fund with Ulips?
A) Reliance General Insurance
B) SBI Life Insurance
C) HDFC Life Insurance
D) Max Life Insurance Company
E) ShriramLife Insurance
Answer: D) Max Life Insurance Company
- Max Life Insurance Company Ltd. has announced the launch of Max Life Sustainable Equity Fund, a pure-equity ESG fund to encourage investments in companies that focus on environmental, social, and governance factors.
- With this launch, Max Life aims to strengthen its commitment to help build a sustainable business ecosystem and integrating ESG compliance into its investment framework.
- The Max Life Sustainable Equity Fund responds to the growing demand for responsible investment and will allow customers to invest in firms that maintain appropriate ESG scores.
- Linked to the Nifty ESG 100 Index, this actively managed fund promotes ESG principles focusing on stocks that form part of benchmark ESG indices and investing in companies with high ESG scores, as per the firm.
Business and Economy – Daily Current Affairs May 18
6. Cabinet empowered boards of PSEs to decide on closure, divestment of units/subsidiaries,the cabinet was chaired by whom?
A) Prime Minister
D) Home Minister
E) Chief Justice
Answer: A) Prime Minister
- The Cabinet empowered boards of state-owned companies to decide on the closure and divestment of units/subsidiaries.
- Presently, the Board of Directors of holding or parent public sector enterprises have been delegated certain powers to make equity investments to establish financial joint ventures and wholly-owned subsidiaries and undertake mergers/acquisitions, subject to certain ceilings of net worth.
- However, the Boards do not have powers for disinvestment or closure of their subsidiaries or units or stake in JVs, except for some limited powers given to Maharatna PSEs for minority stake disinvestment in their subsidiaries.
- Therefore, approval of the Cabinet was required for both strategic disinvestment and minority stake sale or closure of the subsidiaries or units or sale of their stakes in a JV, irrespective of the size of operations or capital deployed of such subsidiaries, etc.
- The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the proposal for empowering the Board of Directors of the Holding / Parent Public Sector Enterprises to recommend and undertake the process for Disinvestment (both strategic disinvestment and minority stake sale) or closure of any of their subsidiaries/units/stake in JVs.
- The alternative mechanism on disinvestment will accord ‘in principle’ approval for disinvestment (both strategic disinvestment and minority take sale) / closure of subsidiaries of Maharatna PSEs, which was delegated to them, and review the process of disinvestment or closure by the parent or holding PSEs.
- The process for undertaking the strategic disinvestment transactions/closures to be followed by the PSEs should be based on the principles of competitive bidding and consistent with the guiding principles to be laid down.
- For strategic disinvestment, such guiding principles will be laid down by DIPAM.
- For closure, DPE shall issue guiding principles.
7. India Accelerator, Mylab tie up to fund how many startups?
Answer: E) 10-12
- India Accelerator has announced a partnership with biotech firm Mylab Discovery Solutions, which will provide mentorship and investor connections to help startups scale up.
- India Accelerator aims to enable 10-12 startups raise a seed or growth capital of ₹15-20 lakh each.
Acquisitions and Mergers – Daily Current Affairs May 18
8. PhonePe to buy WealthDesk, OpenQ for how many million dollar?
A) 35 million
B) 40 million
C) 75 million
D) 50 million
E) 100 million
Answer: C) 75 million
- Walmart-owned PhonePe is acquiring two wealth management companies WealthDesk and OpenQ.
- While the company did not disclose the deal value, a source close to the development told BusinessLine that the collective value of the acquisitions is around $75 million and the deals are a mix of cash and stock.
- WealthDesk is estimated to be valued around $50 million and OpenQ’s valuation is somewhere around $20 million.
Appointments – Daily Current Affairs May 18
9. Naveen Srivastava appointed India’s Ambassador to which of the following country?
Answer: B) Nepal
- Naveen Srivastava, an Indian Foreign Service officer of 1993 batch, was appointed India’s next ambassador to Nepal.
- He will succeed Vinay Kwatra, who assumed office as Foreign Secretary this month.
10. Airtel re-appoints Gopal Vittal as MD and CEO for how many years?
Answer: D) 5
- Bharti Airtel India’s no. 2 telco, that its board has reappointed Gopal Vittalas Managing Director & CEO for a further period of five years ending on January 31, 2028.
Awards – Daily Current Affairs May 18
11. Ajay Piramal receives Order of the British Empire award,hq of primal group?
Answer: C) Mumbai
- Ajay Piramal, Chairman of the Piramal Group, has received an honorary Commander of the Order of the British Empire (CBE) by Her Majesty Queen.
- He received the award for services to the UK-India trade relationship as India Co-Chair of the UK-India CEO Forum.
Defence – Daily Current Affairs May 18
12. India’s first indigenous trainer aircraft, HANSA-NG successfully completed engine relight test in air at an altitude of?
A) 7000-8000 feet
B) 8000-9000 feet
C) 5000-6000 feet
D) 4000-6000 feet
E) 3000-8000 feet
Answer: A) 7000-8000 feet
- ‘HANSA-NG’, a two-seater flying trainer aircraft, design and developed by CSIR-NAL, has successfully completed in-flight engine relight test at DRDO’s Aeronautical Test Range (ATR) facility at Challakere.
- Flight test was carried out at an altitude of 7,000-8,000 feet with the speed range of 60 to 70 knots by WgCdr K V Prakash and WgCdr NDS Reddy, Test Pilots from Aircraft and Systems Testing Establishment (ASTE).
National Affairs – Daily Current Affairs May 18
13. President Ram NathKovind to inaugurated ‘National Women Legislators’ Conference-2022’,it is organized by which of the following state?
D) Andra Pradesh
Answer: E) Kerala
- President Ram NathKovind will inaugurate the two-day National Women Legislators’ Conference-2022, organized by the Kerala Assembly, at the legislative complex.
- The event, being conducted as part of the nationwide celebrations planned under ‘AzadiKaAmritMahotsav’ marking the 75th anniversary of India’s independence, would be attended by women representatives from various legislative bodies across the country including both Houses of Parliament and state legislative assemblies and councils.
- Announcing the event at a press conference here, state Assembly speaker M B Rajesh said besides women ministers of the union and state governments, women speakers, deputy speakers, and MPs and MLAs would be the delegates of the event.
- It is for the first time in the country that a conference of women representatives is organized on such a large scale at the national level.
- The two-day conference would discuss various topics of contemporary relevance centered on women’s rights, gender equality, ample women’s representation in decision-making bodies, and so on, apart from the inaugural and valedictory sessions and a field trip on the third day.
14. Piyush Goyal announces formation of Cotton Council of India, he is Rajya Sabha MP of which state?
B) Andra Pradesh
Answer: C) Mahrashtra
- Union Minister of Commerce and Industry Piyush Goyal has announced formation of Cotton Council of India under chairmanship of Suresh Bhai Kotak, a renowned veteran cotton man.
- The council will have representation from Ministry of Textiles, Ministry of Agriculture, Ministry of Commerce, Ministry of Finance, Commerce and Industry, Cotton Corporation of India and Cotton Research Institute.
- The first meeting of proposed council has been scheduled on May 28, 2022.
15. Meghalaya CM inaugurates waste-to-fuel plant in which of the following state?
A) Arunachal Pradesh
Answer: D) Meghalaya
- Chief Minister Conrad Sangma inaugurated the waste-to-fuel plant, the first plant of its kind in Meghalaya, in the presence of Ambassador of South Korea to India, Chang Jae-Bok.
- The plant situated at Tura Municipal Board landfill site at RongkhonSongital in west garo hills district will be operated by a South Korean firm, Chamhana GW.
- The project will convert plastic and food waste into energy blocks and the process of turning the heaps of garbage lying on the landfill site would take about 9 to 12 months to be converted since they first need to segregate the mud from the waste.
- The project would be expanded to Shillong, Jowai, Nongstoin and other districts as well in the coming days
Over All Review
Banking and Finance
Business And Economy
Acquisitions and Mergers