Banking & Financial Awareness
1. Which payment bank has renewed its association with Rajasthan Royals (RR) for Season 16 of the Indian premier cricket competition, IPL _____ Fino Payments Bank.
➢ Fino Bank will be RR’s official digital banking partner.
➢ The bank made its maiden foray with the mega sporting event last season by partnering with RR as the digital payments partner.
➢ The newly launched FinoPay digital savings account is expected to get more traction through this engagement.
2. What is revised interest rate of the National Savings Certificate ______7.7%.
➢ The rate for Sukanya Samriddhi has increased to 8% from 7.6%.
➢ The interest rates for PPF and savings deposits have been retained at 7.1% and 4%.
➢ Senior citizen savings scheme: 8.2%.
➢ Kisan Vikas Patra (KVP): 7.5%
➢ KVP will now mature in 115 months as against 120 months earlier.
3. India’s GST revenue collection for March 2023 stood at 1.6 lakh crore rupees, which is __higher than the GST revenues in March 2022 ____13%.
➢ It is for the fourth time, in the current financial year that the gross GST collection has crossed 1.5 lakh crore rupees, since the implementation of GST.
➢ Out of the total collection, CGST is 29,546 crore rupees, SGST is 37,314 crore rupees and IGST is 82,907 crore rupees.
➢ The gross revenues in 2022-23 were 22% higher than in 2021-22.
4. Which payment collaborated with Airtel to launched WhatsApp Banking Services for its customers in New Delhi ____ India Post Payments Bank (IPPB).
➢ This channel will enable IPPB customers to seamlessly connect with the bank on WhatsApp and effortlessly avail of a host of banking services.
➢ It includes doorstep service requests, locating the nearest Post Office, and much more.
➢ Airtel has been working with IPPB to deliver as many as 250 million messages per month to the bank’s customers.
5. How much amount of support package was approved by the IMF for Ukraine to assist with the conflict-hit country’s economic recovery _____15.6 billion US dollar.
➢ The loan is part of a broader 115 billion US dollar international support package to help the country meet urgent funding needs.
➢ Of the total amount, 2.7 billion dollars is being made available to Ukraine immediately and the rest of the funds are due to be released over the next four years.
6. According to the Reserve Bank of India (RBI), India's CAD has narrowed to $18.2 billion (2.2% of GDP) in the October to December quarter (Q3FY23) from 4.4% of the GDP in the quarter ending September 2022. What is the full form of CAD ______Current Account Deficit.
➢ Reason: The decline was mainly due to the narrowing of the merchandise trade deficit.
➢ Services exports reported a growth of 24.5% on a y-o-y basis.
➢ CAD: It is the difference between the inflow and outflow of foreign exchange.
7. Which bank has become the first Indian bank to open its ‘Special Rupee Vostro’ account through its corresponding bank in Malaysia i.e. India International Bank of Malaysia for trade settlement in rupee _____Union Bank of India.
➢ The trade between India and Malaysia can now be settled in the Indian rupee, in addition to the current modes of settlement in other currencies.
➢ In July 2022, RBI decided to allow the settlement of India’s international trade in rupee.
➢ Malaysia currency: Ringgit
8. According to the Controller General of Accounts (CGA), the government's fiscal deficit for April 2022-February 2023 has widened to what amount ___ Rs 14.54 lakh crore.
➢ It is accounted for 82.8% of the full-year target for 2022-23.
➢ In 2021-22, the Fiscal deficit in the first 11 months was 82.7% of that year's target.
➢ The Centre made an upward revision in its fiscal deficit target for 2022-23 in the 2023 Budget to Rs 17.55 lakh crore from Rs 16.61 lakh crore.
9. Name three insurance organizations that was has identified as domestic systemically important insurers (D-SIIs) for 2022-23 by IRDAI _____LIC, New India Assurance, and GIC Re.
➢ These were the same institutions identified as DSII in 2021-22.
➢ D-SIIs refer to insurers of such size, market importance, and domestic and global interconnectedness, whose distress or failure would cause a significant dislocation in the domestic financial system.
10. According to the Reserve Bank of India (RBI) data, India's foreign exchange reserves increased by $5.98 billion to ___ on March 24, 2023 _____$578.78 billion.
➢ Data for the previous week showed that India's foreign exchange reserves rose to $572.8 billion, the highest level since early February 2023.
➢ India's foreign currency assets (FCA) also increased from $4.38 billion to $509.72 billion.
➢ India's gold reserves rose by $1.37 billion to $45.48 billion.
11. The Public sector banks (PSBs) have transferred unclaimed deposits of what amount as of February 2023 to the Reserve Bank of India (RBI) ____₹35,012 crore.
➢ These deposits have not been operated for 10 years or more.
➢ SBI tops the list with an unclaimed amount of ₹8,086 crore, while PNB has ₹5,340 crore and Canara Bank has ₹4,558 crore.
➢ These unclaimed deposits belong to 10.24 crore accounts transferred to the RBI.
➢ MoS for Finance Bhagwat Karad shared this information in Lok Sabha.
12. Which private lender and VISA jointly launched a mobile application, 'Digital Dukaan' to empower merchants to accept payments through various digital modes _____ Axis Bank.
➢ It is designed to address business requirements such as accepting digital payments, inventory management, and billing.
➢ This Android Smart POS application has an in-built camera with an LED flashlight to enable scanning of product barcodes and allow a tap-and-pay option for transactions up to Rs 5,000.
13. World Bank has predicted India's economy to slow in the 2023-24 to what percent on the back of shrinkage in consumption due to slower income growth ______6.3%.
➢ The report estimates India's inflation to moderate from 6.6% to 5.5% in the current fiscal.
➢ The Current Account Deficit (CAD) is expected to be 5.2% in FY24.
➢ The Economic Survey had projected a growth of 6.5% for the current fiscal while RBI's latest projection pegs growth for FY24 at 6.4%.
14. Which bank has introduced a “Premium Payroll Package” for Salary account holders with competitive features ____Canara Bank.
➢ This product has been designed to meet all Banking requirements of Salaried Customers.
➢ Features: Free Term Life Insurance, Insta over Draft, free Personal & Air Accident Insurance coverage, Premium Cards, etc.
➢ All employees of a firm/company with a minimum of 5 employees.
➢ Age: 18-65 years
➢ Salary Band: Rs. 50,000-Rs.1,00,000
15. According to the latest edition of ADB's flagship economic publication, Asian Development Outlook (ADO) April 2023, what would be India's GDP growth in FY24 (2023-24) ______6.4%.
➢ Reason: Risks arising from global and domestic factors
➢ ADB has also highlighted that India's GDP will rise in FY25 to 6.7%.
➢ While inflation will likely moderate to 5% in 2023-24, assuming moderation in oil and food prices.
➢ Inflation will be at 4.5% in FY25.
16. Which tax was removed by India government on crude oil production to nil from 3,500 rupees ($42.56) per tonne and on diesel has been slashed to Rs 0.5 per litre from Re 1 per litre, effective from April 4, 2023 _____Windfall tax.
➢ Windfall tax: It is levied by governments when an industry unexpectedly earns large profits.
➢ The tax was levied in July 2022 as high energy prices led to soaring profits for oil producers.
➢ The decision comes at a time when OPEC+ decided to cut production.
17. Which fintech organization has launched a new consumer-facing application named Pincode, which will be a part of India's Open Network for Digital Commerce (ONDC) framework ____ PhonePe.
➢ Aim: To strengthen its e-commerce forays
➢ Pincode is a buyer app that focuses on hyperlocal commerce and is available for download on both Google Play and the App Store.
➢ It will launch in six major categories including grocery, food, pharma, electronics, home decor, and fashion.
18. The Reserve Bank of India (RBI) has announced its bimonthly monetary policy and kept the repo rate unchanged at what percent ______6.50%.
➢ The GDP is expected to jump 6.5% in the current financial year.
➢ Retail inflation is expected to moderate to 5.2% in FY2023-24.
➢ The standing deposit facility (SDF) would remain unchanged at 6.25%, and the MSF rate and the bank rate at 6.75%.
➢ In Q1FY24, CPI-based inflation is expected to be 5.1%.
➢ The real GDP growth in 2022-23 was 7%.
19. According to the Global Trade Outlook and Statistics report, released by the World Trade Organisation (WTO), what would be the global merchandise trade volume grow in 2023 ______1.7%.
➢ It would be lower than 2.7% growth in 2022.
➢ The expectation would be ‘subpar’ due to multiple factors, including Russia-Ukraine conflict, high inflation, tighter monetary policy, and financial uncertainty.
➢ WTO DG: Ngozi Okonjo-Iweala
20. According to the Reserve Bank of India (RBI) data, the Bank credit rose by __ year-on-year (YoY) in 2022-23 (FY23), against 9.6% YoY in 2021-22 (FY22) _____15%.
➢ FY23 credit growth is the highest since 2011-12, when it was 19.3%.
➢ Bank deposits expanded 9.58% YoY in FY23, against 8.9% YoY growth seen in the previous financial year (FY22).
➢ The outstanding credit stood at Rs 136.75 trillion at the end of the last fortnight of FY23 (March 24, 2023).
Obituaries
1. Sara Thomas, who passed away at 88 due to age-related ailments, was a noted ___Author.
➢ She is a two-time recipient of the Kerala Sahitya Akademi award.
➢ Her noted work ‘Narmadipudava’ won the Kerala Sahitya Akademi award in 1979.
➢ She was also awarded the academy’s award in 2010 for her overall contribution to Malayalam literature.
➢ Her second novel ‘Muripadukal’ was made into a movie titled ‘Manimuzhakkam’ in 1976, which won several national and state awards.
2. Salim Durani, who passed away at the age of 88 in Jamnagar, Gujarat, was associated with which sports ____Cricket.
➢ He played 29 Tests for India from 1960 to 1973, scoring 1,202 runs at an average of 25.04, with one century (104 against West Indies in 1962) and seven fifties.
➢ He was a left-arm spinner and claimed 75 wickets at 35.42 apiece.
➢ In first-class cricket, he played for Saurashtra, Gujarat, and Rajasthan.
➢ He was born in Kabul (Afghanistan) in 1934 and was raised in Jamnagar.
3. Thottathil B Radhakrishnan, who passed away in Kochi at the age of 63, was a ___ Former Chief Justice of Calcutta High Court.
➢ He also served as the Chief Justice of Telangana and Chattisgarh HC and was a judge of the Kerala HC.
➢ He was an expert in civil, constitutional, and administrative matters.
➢ He also chaired the expert committee formed by the Kerala Forest Department to record details of houses and commercial establishments that surround wildlife sanctuaries.
4. Ryuichi Sakamoto, who passed away at the age of 71 due to cancer, was a veteran ___ Composer.
➢ He was a Japanese composer, record producer, and actor who pursued a diverse range of styles as a solo artist and as a member of Yellow Magic Orchestra (YMO).
➢ As a film-score composer, he won an Oscar, a BAFTA, a Grammy, and two Golden Globe Awards.
➢ He won an Academy Award with his score for the 1987 period epic “The Last Emperor".
5. Jagarnath Mahto, who passed away at 56 in Chennai, was an Education minister of which state __ Jharkhand.
➢ He was the four-time JMM MLA from Dumri in the Giridih district, Jharkhand.
➢ He was also known as Tiger Mahto or Tiger Jagarnath Da.
➢ He was born on January 1, 1967, in the Alargo village of Bokaro District in Jharkhand and dropped out of high school and attended Nehru High School in 1995 before leaving his studies to pursue a career in politics.
Important Days
1. World Autism day is observed annually on which date to promote awareness and advocacy for the rights of people with autism ______April 2.
➢ This year marks the 16th anniversary of the day.
➢ This year the theme is “Contribution of Autistic Individuals at Home, at Work, in the Arts, and Policymaking.”
➢ In 2007, the United Nations General Assembly officially declared April 2nd as World Autism Awareness Day, following a proposal put forward by the State of Qatar.
2. International Day of Mine Awareness and Assistance in Mine Action is observed every year on which date to raise awareness against explosive mines and gather assistance towards their eradication ______April 4.
➢ Theme 2023: Mine Action Cannot Wait
➢ The UN Mine Action Service (UNMAS) leads the mine action community, which plays an important role in achieving the goals of mine action.
➢ On 8 December 2005, the General Assembly declared that 4 April to observe as this day.
3. India observed which edition of National Maritime Day on April 5, 2023, to commemorate the sailing of the first Indian commercial vessel, SS Loyalty ______60th.
➢ The ship sailed from Mumbai to London.
➢ This day was started by the Ministry of Ports, Shipping, and Waterways in 1964.
➢ The theme for 2023 has not yet been announced.
➢ The theme for National Maritime Week 2023 is 'Amrit Kaal in Shipping'.
➢ World Maritime Day is observed on 28 September.
4. The International Day of Sport for Development and Peace (IDSDP) takes place on which date to celebrate the role of sports and physical activity in our lives across the globe ____April 6.
➢ 2023 theme: Scoring for People and the Planet
➢ On August 23, 2013, the United Nations General Assembly adopted resolution 67/296 to proclaim April 6 as the International Day of Sport for Development and Peace.
➢ This day was supported by the International Olympic Committee.
5. World Health Day is celebrated every year on which date to spread awareness about health-related issues that affect people all over the world ______April 7.
➢ On this day, World Health Organisation (WHO) was founded in 1948 and this year marks the 75th founding anniversary of WHO.
➢ This year, the theme for World Health Day is ‘Health for All’.
➢ The theme highlights an opportunity for the world to look back at public health successes that have helped improve the quality of life.
6. International Conscience Day is celebrated on which date to promote peace _____ April 5.
➢ Conscience is the ability of a person to distinguish between what’s right and what’s wrong.
➢ It allows people to have a moral backbone and to protect those who are weak.
7. The Indian Government organized the Prevention of Blindness Week from __ every year ____April 1-7.
➢ Aim: To raise awareness about the causes and prevention of blindness.
➢ The annual event aims to support individuals with visual impairments and to promote access to eye care services.
New Appointments
1. Who was appointed as the first head of NASA's Moon to Mars Programme, with immediate effect _____ Amit Kshatriya.
➢ The new office aims to carry out the agency’s human exploration activities on the Moon and Mars for the benefit of humanity.
➢ He will be responsible for planning and executing human missions to these celestial bodies for the betterment of humanity.
➢ NASA Administrator: Bill Nelson
2. Adani Group has appointed whom as the Executive Chairman of the Haifa Port Company ______Ron Malka.
➢ He served as the ambassador of Israel to India from 2018-2021.
➢ It is the second-largest port in Israel in terms of shipping containers.
➢ The Adani Group officially took over this port in January 2023.
➢ Adani Ports and Special Economic Zone and Israel's Gadot Group won the tender in July 2022 to privatize the Port of Haifa for USD 1.18 billion.
3. Who assumed the charge of the vice chief of naval staff on April 2, 2023 ____Vice Admiral, Sanjay Jasjit Singh.
➢ He succeeded Vice Admiral SN Ghormade who retired after over 39 years of service.
➢ He is a graduate of the National Defence Academy, Pune, and was commissioned in 1986 in the executive branch of the Indian Navy.
➢ In his career, he has served on most classes of ships of the Indian Navy and has held a range of command, training, and staff appointments.
4. The Reserve Bank of India has appointed whom as executive director (ED) ____ Neeraj Nigam.
➢ Before being promoted to ED, he was heading the Bhopal regional office of the RBI as director.
➢ During his long career, he served in Regulation and Supervision, human resource management, premises, currency management, bank accounts, and other areas in the Reserve Bank.
5. Who has been selected as the first woman astronaut by the American Space Agency, NASA for its Artemis II mission ______Christina Koch.
➢ Other crew members: Victor Glover (First Black Astronaut) and Reid Wiseman of NASA, and Jeremy Hansen of the Canadian Space Agency (CSA).
➢ It will involve a fly-by of the moon and a 10-day journey back to Earth.
➢ It is part of NASA's Artemis program, which aims to land the first woman and the next man on the moon by 2024.
6. Who has assumed the charge as the 40th president of FICCI Ladies Organisation (FLO) at the 39th annual session ____Sudha Shivkumar.
➢ FLO is the oldest women-led and women-centric business chamber in Southeast Asia.
➢ She is a lawyer and investment banker by profession and presently serving as a director at auto ancillaries.
➢ She was the Chairperson of the FLO Chennai Chapter in 2016-17.
➢ FLO is the women's wing of the FICCI
7. The Board member of Suzlon Energy has appointed whom as the new Chief Executive Officer (CEO) _____ J P Chalasani.
➢ He has replaced Ashwani Kumar, who resigned from the post on account of personal reasons.
➢ He had been Group CEO of Suzlon from April 2016 to July 2020 and continued as Strategic Advisor to the Suzlon Group thereafter.
➢ He was also the Group CEO and Managing Director of Punj Lloyd.
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