Weekly Current Affairs 1st to 8th July 2022

(General Awareness Digest for Regulatory Body Exams)

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RBI, Banking and Economy

  • RBI pegs state govt market borrowing for July-Sept at Rs 2.1 trillion
    • The Reserve Bank of India pegged the market borrowing by state governments in July-September at Rs 2.12 trillion rupees.
    • The RBI will endeavour to ensure that the state bond auctions are conducted in a non-disruptive manner taking into account market conditions and other relevant factors.
  • RBI Liberalises Norms To Boost Forex Inflows
    • Reserve Bank of India (RBI) further liberalised norms to boost inflows of foreign exchange.
    • The measures taken by the central bank comes in the backdrop of rupee depreciating by 4.1 per cent against the US dollar during the current financial year so far amid the ongoing geopolitical tensions.
  • Future Enterprises defaults on Rs 6.15 cr interest payment for NCDs
    • Debt-ridden Future Enterprises Ltd (FEL) has announced another default, this time on payment of interest of Rs 6.15 crore for its non-convertible debentures.
    • The due date for payment was June 29, 2022.


  • SEBI levies Rs 11-crore fine on eight entities in algo software case
    • The Securities and Exchange Board of India (SEBI) imposed a penalty of Rs 11 crore on eight entities for violation of corporate governance and wrongful sharing of data by the National Stock Exchange (NSE) for development of software on algorithm trading.
    • The case dates back to a period between 2009 and 2016 when the exchange engaged with academician Ajay Shah and Infotech Financial Services (where Sunita Thomas and Krishna Dagli were directors).
  • SEBI imposes fine of Rs 36 lakh on PGIM Asset Management and its CEO
    • Capital markets regulator SEBI has imposed a penalty totalling Rs 36 lakh on five entities — including PGIM Asset Management Company and its chief executive officer Ajit Menon — for flouting mutual funds norms while executing Inter-Scheme Transfers (ISTs).
    • Apart from these, the regulator has penalised Kumaresh Ramakrishnan, Puneet Pal and Rakesh Suri. They were the fund managers at the time of the violation of the rule.
  • SEBI asks bourses, depositories to launch online complaint redressal system
    • SEBI has recently asked stock exchanges and depositories to launch an online complaints redressal system of their own within six months to enable investors to lodge their complaints and track the status of redressal of such grievances.
    • This is in line with the online platform, SCORES (SEBI Complaints Redress System) , launched by the capital markets regulator in June 2011 to help investors lodge their complaints, pertaining to the securities market, against listed companies and SEBI-registered intermediaries.


  • India’s marine product exports record an all-time high in FY 2021-22
    • India shipped 13,69,264 MT of seafood worth Rs 57,586.48 crore (USD 7.76 billion) during 2021-22.
    • During the FY 2021-22, the export improved in rupee term by 31.71%, in USD terms by 30.26% and in quantity terms by 19.12%.
    • In 2020-21, India had exported 11,49,510 MT of seafood worth Rs 43,720.98 crore (USD 5,956.93 million).
  • India to be self-sufficient in urea by 2025 end
    • India will not need to import urea by 2025-end as the domestic production of conventional urea and nano liquid urea is expected to be sufficient to meet the country’s annual demand, Union Minister for Chemicals and Fertilisers Mansukh Mandaviya said recently.


  • Punjab assembly passes resolution against the Agnipath scheme
    • The Punjab Assembly passed a resolution against the Centre’s Agnipath defence recruitment scheme.
    • The resolution was moved in the House by Chief Minister Bhagwant Mann.
  • Single-use plastic ban comes into effect
    • The ban on single-use plastic came into effect on 1 July.
    • The Ministry of Environment, Forest and Climate Change notified the Plastic Waste Management Amendment Rules, 2021, in August last year.
  • 125th birth anniversary celebration of legendary freedom fighter Alluri Sitarama Raju
    • The Prime Minister, Shri Narendra Modi launched the year-long 125th birth anniversary celebration of legendary freedom fighter Alluri Sitarama Raju in Bhimavaram, Andhra Pradesh.
    • The 125th birth anniversary of Alluri Sitarama Raju Garu and the 100th anniversary of Rampa Kranti will be celebrated throughout the year.


  • New Zealand men, women cricketers to receive same pay
    • New Zealand's professional men's and women's cricketers will be paid the same amount of pay in a ground-breaking new five-year deal.
    • This would include all players playing in top-tier domestic matches.
  • Boris Johnson resigns as PM
    • Boris Johnson resigned as leader of Britain’s Conservative party, paving the way for the selection of a new Prime Minister after dozens of Ministers quit his government over 48 hours of frenzied political drama.


  • Eknath Shinde takes oath as CM of Maharashtra, Fadnavis as deputy CM
    • Shiv Sena leader Eknath Shinde was sworn in as the 20th chief minister of Maharashtra, while BJP’s Devendra Fadnavis took oath as the deputy chief minister.
    • Governor Bhagat Singh Koshyari administered the oath of office to CM and deputy CM at the Raj Bhavan in South Mumbai.
  • Jagannath Rath Yatra 2022
    • The Jagannath Rath Yatra is one of the biggest and most prominent Hindu festivals.
    • The nine-day annual festival will start on July 1 and end with Bhauda Yatra on July 9.
  • Delhi govt adds Jagannath Puri Yatra under its free pilgrimage scheme
    • The Delhi government will be sending elderly pilgrims for Jagannath Puri Yatra in Odisha under its free pilgrimage scheme.
    • Two trains under the ‘Mukhyamantri Tirth Yatra Yojna’ carrying the elderly pilgrims will leave for the yatra.


  • Business Reforms Action Plan (BRAP) 2020
    • Minister of Finance and Corporate Affairs Nirmala Sitharaman announced the assessment of States/UTs under Business Reforms Action Plan (BRAP) 2020, the 5th edition of the BRAP exercise in New Delhi.
    • Top Achievers: Andhra Pradesh, Gujarat, Haryana, Karnataka, Punjab, Tamil Nadu and Telangana are the Top Achievers.
  • Habitat's World Cities Report 2022: UN
    • United Nations released a report titled - Habitat's World Cities Report 2022.
    • According to it, India's urban population is estimated to stand at 675 million in 2035, the second highest behind China's one billion.
  • Indian direct selling industry ranks 12th globally
    • According to a report released by Washington-based World Federation of Direct Selling Associations (WFDSA), the Indian direct selling industry has reported retail sales of USD 3.25 billion in 2021 (around Rs 27,650 crore) and maintained its 12th place in the global rankings.
    • The Indian direct selling industry reported a growth of 7.7 per cent in 2021 and had a CAGR (Compound Annual Growth Rate) of 15.7 per cent in the last three years from 2018 to 2021, grabbing sixth position in the Asia Pacific region.


  • ISRO places 3 Singapore satellites, 6 experiments in orbit
    • The Indian Space Research Organisation (ISRO) successfully launched three Singaporean satellites in a commercial mission of the New Space India Limited.
    • This was the second launch of the year by the space agency, the first one having placed an Indian Earth Observation Satellite in orbit in February.
  • TiHAN Testbed for Autonomous Navigation at IIT Hyderabad
    • Union Minister of State (Independent Charge) Science & Technology; Minister of State (Independent Charge) Earth Sciences; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh inaugurated first-of-its-kind, state-of-the-art “Autonomous Navigation” facility to develop unmanned ground and aerial vehicles in the IIT Hyderabad campus.
  • NASA satellite on its way to the Moon
    • A NASA satellite The Capstone, the size of a microwave oven, successfully broke free from its orbit around Earth on July 4, 2022 and is headed towards the moon.
    • The Capstone satellite is a part of NASA's plan to experiment with a new orbit around the Moon to pave way to land astronauts on the lunar surface once again.
    • The satellite will take another four months to reach the moon, as it cruises along using minimal energy.


  • DRDO holds first flight of unmanned aircraft
    • The Defence Research and Development Organisation (DRDO) carry out the maiden flight test of the autonomous flying wing technology demonstrator in Karnataka.
    • The test, carried out from the Aeronautical Test Range in Chitradurga, is being seen as an important milestone in the development of unmanned aircraft.
  • India’s participation in Seychelles independence Day celebrations
    • The Indian Navy contingent joined the Seychelles Defence Force (SDF) of Republic of Seychelles for the Independence Day celebrations on 29 June 2022.
    • INS Kolkata, an indigenously built Stealth Guided Missile Destroyer of the Indian Navy, was deployed to Port Victoria, Seychelles to coincide with the Independence Day of Seychelles on 29 June 22.
  • ALH Squadron INAS 324 Commissioned at Visakhapatnam
    • Indian Naval Air Squadron 324 was commissioned into the Indian Navy at an impressive Commissioning Ceremony held at INS Dega, Visakhapatnam on 04 Jul 22.
    • The unit is the first Naval Squadron on the Eastern Seaboard operating the indigenously designed and built Advanced Light Helicopter (ALH) MK III (MR) helicopters.


  • India-EU FTA talks
    • India and the European Union (EU) concluded the first round of talks for their proposed free trade agreement (FTA) and the next round of talks is scheduled at Brussels in September.
    • The trade agreement with the EU would help India further expand and diversify its exports of goods and services, including securing the value chains.
  • PM inaugurates Digital India Week 2022
    • The Prime Minister, Shri Narendra Modi inaugurated the Digital India Week 2022.
    • The theme of Digital India Week 2022 is ‘Catalyzing New India’s Techade’.
    • Digital India Week 2022 will have physical events from 4th to 6th July in Gandhinagar.
  • PM to launch education summit
    • Prime Minister Narendra Modi will inaugurate a three-day summit in Varanasi on 07 July 2022 that will culminate with the adoption of the Varanasi Declaration on higher education.
    • The summit is being organised by the Ministry of Education in association with the University Grants Commission and Banaras Hindu University.


  • Fields Medal
    • Four mathematicians have been awarded the prestigious Fields Medals including Ukraine's Maryna Viazovska at a ceremony in Helsinki, Finland.
    • This was informed by the International Mathematical Union jury on July 5, 2022.
  • Dr. Jitendra Singh announces setting up of Dr. Rajendra Prasad Memorial Award in public administration in the field of academic excellence
    • Union Minister of State (Independent Charge) Science & Technology; Minister of State (Independent Charge) Earth Sciences; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh, who is also Chairman of the Indian Institute of Public Administration (IIPA), announced the setting up of Dr. Rajendra Prasad Memorial Award in public administration in the field of academic excellence, in memory of the first President of India who had also laid the foundation stone of the IIPA building complex in the national capital.


  • Neeraj Chopra sets new National Record in Stockholm Diamond League
    • Olympic Champion Neeraj Chopra finished second at the prestigious Diamond League meeting in Stockholm.
    • Neeraj Chopra shattered the national record once again, recording a throw of 89.94m. He fell short of the coveted 90-metre mark by just 6 centimetres.
    • Athletics Federation of India named a 22-member, including five women, in the team.
    • Olympic Games Javelin Throw gold medallist Neeraj Chopra feature in the Indian squad to compete in the World Athletics Championships Oregon22 to be held in Eugene, Oregon from July 15 to 24.
  • Chennai Open WTA 250 to be held from September 12-18
    • Chennai will host the first ever Open WTA 250 international women's tennis championship from September 12 to 18.
    • The event to be held at the SDAT tennis stadium, Nungambakkam, will see the participation of leading women players from among the top 100 in the world.
    • The state government will be lead sponsor for the USD 250,000 (about Rs 2 crore) event.

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