Current Affairs for Cseet Part 2

1. The Cabinet Committee on Economic Affairs chaired by Prime Minister has recently approved an

ambitious scheme to boost the industrial development of ______________________.

Answer: Jammu and Kashmir

The Government of India has allocated Rs. 28,400 crores for the industrial development of Jammu and Kashmir

scheme. The funds are to be used to develop industrial sector of the territory till 2037.

2. The Prime Minister Narendra Modi has launched and addressed Start-up India International Summit.

What is the name of summit?

Answer: Prarambh.

The Startup India International Summit is organised by Department for Promotion of Industry and Internal

trade (DPIIT) and the Ministry of Commerce and Industry.

3. The Union Ministry of Commerce and Industry recently announced that the new Foreign Trade Policy:

2021-26 which is to come into effect from ____________________.

Answer: April 1, 2021

The goal of New Foreign Trade Policy is to make India a 5 trillion USD economy. The District Export hubs are

to play a major role in the new Foreign Trade Policy. The policy will aim to boost exports. It will enhance ease

of doing business.

4. First advanced estimates of National Income have been released by National Statistical Office (NSO).

As per the estimate, India’s GDP is expected to contract by what percent in the current fiscal year 2020-

21?

Answer: 7.7%

5. Elon Musk-owned electric vehicle company Tesla has registered its fully owned subsidiary in which

Indian city with a name of ‘Tesla India Motors and Energy Private Limited’?

Answer: Bengaluru

6. NITI Aayog has collaborated with which ecommerce company to launch a revamped Women

Entrepreneurship Platform (WEP)?

Answer: Flipkart

7. The Reserve Bank of India recently released 22nd issue of the financial stability report for December

2020. As per the report, the Gross Non-Performing Assets Ratio of the scheduled commercial banks is

to increase to ______________ by September 2021.

Answer: 13.5%

The GNPA ratio stood at 7.5% in September 2020.

NNPA the ratio stood at 2.1 % in September 2020 and at 3% in March 2020.

According to the financial stability report, the GNPA might increase to 13.5% by September 2021 under baseline

scenario. Under severe stress scenario, the GNPA ratio might increase to 14.8% by September 2021.

8. The Reserve Bank of India recently constituted a working group to study all aspects of digital lending

activities in the regulated and regulated financial sector. The working group is led by ____________________.

Answer: Jayant Kumar Dash

The working group consists of both internal and external members. The internal members include Jayant

Kumar Dash as Chairman.

9. Which Bank has tied-up with IIT Kanpur and Foundation for Innovation & Research in Science &

Technology (FIRST) to set up ‘Fintech Innovation Centre (FIC)’ at the institute’s campus?

Answer: Punjab National Bank

10. RBI has set up an academic advisory council named as ‘College of Supervisors (CoS)’ to strengthen its

supervision over regulated entities. CoS will have five members and it will be headed by former deputy

governor ________________________.

Answer: N S Viswanathan

11. Central Board of Indirect Taxes and Customs (CBIC) has taken a new initiative to introduce its flagship

Liberalised MSME AEO Package. What is the full form of AEO?

Answer: Authorised Economic Operators

In order to attract MSMEs to become Authorised Economic Operators (AEOs) and avail the various benefits, the

CBIC has relaxed the compliance criteria provided the MSMEs have a valid certificate from their line-Ministry.

The relaxed requirements allow MSMEs who have filed minimum 10 Customs clearance documents in one

year and who have a clean compliance record over 2 years to apply for the scheme.

12. RBI issued ‘Risk Based Internal Audit (RBIA) Framework’ for strengthening governance arrangements

of banks as part of ‘Internal Control Framework’. RBIA will be applicable to __________________________.

Answer: All Scheduled Commercial Banks (Excluding RRBs), Local Area Banks, Small Finance

Banks and Payments Banks

Under RBIA, Head of Internal Audit (HIA) will be formed as a senior executive of the bank with independent

judgement, with a tenure of 3 years. HIA will directly report to Audit Committee of the Board or MD- CEO.

13. RBI has cancelled the license of Vasantdada Nagari Sahakari Bank, with immediate effect from

January 11, 2021. The Bank is located in which state ?

Answer: Maharashtra

The move is taken as the bank failed to comply with Section 11(1) and Section 56 of Banking regulation Act.

14. IRDAI has constituted ‘Health Insurance Advisory Committee’ to examine availability of health

insurance products. Committee will be headed by IRDAI Chairperson, _____________________.

Answer: Subhash Chandra Khuntia

15. An Indian high school student Aryan Jain has won the National Aeronautics and Space

Administration's (NASA) Artemis Next-Gen STEM - Moon to Mars App Development Challenge this year.

Aryan, a student of Suncity School, _____________________.

Answer: Gurugram