Current Affairs for BANK, IBPS Exams - 01 July 2022

Bank Exam Current Affairs

Current Affairs for BANK, IBPS Exams - 01 July 2022


Jagannath Rath Yatra to be held as per schedule in Udaipur

  • The annual Jagannath Rath Yatra will be held as per schedule in Rajasthan’s Udaipur even as the city has been under curfew amid tensions over the brutal murder of a tailor.
  • The curfew has been relaxed along the route for the procession and will be reimposed after it is over, the district administration said in a statement. It will remain imposed in the rest of the city.
  • Thousands of slogan-shouting people took out a protest rally on Thursday and demanded the death penalty for two Muslim men, who murdered KanhaiyaLal, the tailor, filmed the murder and posted a celebratory video. The National Investigation Agency is probing the murder.
  • Gatherings of over four people have also been barred in Udaipur and the Internet has remained suspended. “We have appealed to both the communities to be peaceful. We have all arrangements in place to have a peaceful day,” said an official, who did not want to be named.
  • Officials said additional police forces and drones have been deployed along the procession route. A meeting was held with the procession organisers and the city’s prominent Muslims. The procession is being held after a two-year hiatus due to the Covid-19 pandemic.

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YairLapid officially becomes Prime Minister of Israel

  • YairLapid officially became the 14th Prime Minister of Israel at the stroke of midnight between Thursday and Friday.
  • Lapid's term could be the short one as he takes over the caretaker government ahead of Israel's election which was scheduled to take place on November 1, The Times of Israel reported.
  • "We'll do the best we can for a Jewish, democratic state, good and strong and thriving, because that is the job, and it's bigger than all of us," Lapid said at a handover ceremony with the outgoing Prime Minister Naftali Bennett afternoon.
  • On his first day in office, Lapid's first agenda is to hold the meeting with Ronen Bar, the head of the Shin Bet security agency, at the Kirya military headquarters in Tel Aviv.
  • Shortly after this, the new Prime minister is scheduled to hold a meeting to discuss "the captives and MIAs", a reference to the two Israeli men and the remains of two Israeli Defense Forces (IDF) soldiers being held by Hamas in the Gaza Strip.
  • This topic again became the headline this week after Hamas disseminated a video showing Israeli captive Hisham al-Sayed hooked up to an oxygen mask, the first image of him since he crossed into Gaza in 2015, reported The Times of Israel.
  • Hamas is believed to also be holding AveraMengistu, as well as the remains of soldiers OronShaul and HadarGoldin. Talks to secure their release have stalled repeatedly over the years.
  • US President Joe Biden congratulated Lapid for becoming the new Prime Minister. Taking to twitter, he said, "Congratulations to @YairLapid, Israel's new Prime Minister, and thank you to Alternate Prime Minister @NaftaliBennett for your friendship over the past year.


Robust credit growth continues, small and mid-size businesses gain

  • The rising pace of credit offtake continued in May, with sectors clocking year-on-year (YoY) growth between 8.7 per cent and 16.4 per cent.
  • The Reserve Bank of India (RBI) data showed that credit to industry grew 8.7 per cent in May (0.2 per cent in May 2021). The YoY growth in May was higher than 7.1 per cent YoY in March 2022.
  • Size-wise, credit to medium industries grew 49.3 per cent in May against 47.9 per cent in the year-ago month. The credit growth to micro and small industries rose to 33 per cent from 8.9 per cent a year ago. The large industries segment also grew 1.9 per cent against a contraction of 3.1 per cent in May 2021.
  • Bankers said besides the rise in economic activity, higher working capital limits due to rising input costs and some shift to bank loans from costly market borrowing has led to an uptick in the credit demand from industry.
  • The retail loans segment maintained its uptrend and grew 16.4 per cent in May 2022 vis-a-vis 12.8 per cent in the same month in 2021, primarily driven by housing and vehicle loans segments. The retail credit grew YoY at 12.4 per cent in March 2022.
  • The credit growth to services sector grew by 12.9 per cent in May 2022 (3.4 per cent a year ago), mainly due to improved offtake by NBFCs, professional services, and transport operators. The YoY growth in loans to services sector was 8.9 per cent in March 2022.

Rupee rises 13 paise to 78.90 against US dollar in early trade 

  • Recovering from its record low, the rupee appreciated 13 paise to 78.90 against the US dollar.
  • At the interbank foreign exchange, the rupee opened at 78.92 against the American dollar. In initial trade, the local currency witnessed a high of 78.90 and a low of 78.94 against the US dollar.
  • In the previous session, the rupee had closed at its all-time low of 79.03 against the US dollar.
  • According to SriramIyer, Senior Research Analyst at Reliance Securities, the range for the rupee today is 78.65-79.05.
  • "Asian currencies have started mixed, but currencies could remain under pressure after Fed Chair Jerome Powell said there is a risk the US central bank's interest rate hikes will slow the economy considerably," Iyer said.
  • On the domestic equity market front, the 30-share Sensex was trading 337.14 points or 0.64 per cent higher at 53,364.11, while the broader NSE Nifty advanced 84.00 points or 0.53 per cent to 15,883.10.
  • Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.07 per cent to 105.03.
  • Global oil benchmark Brent crude futures rose 0.07 per cent to USD 116.34 per barrel.
  • Foreign institutional investors remained net sellers in the capital market as they offloaded shares worth Rs 851.06 crore, as per exchange data.

::Science and tech::

Isro’s PSLV-C53 places three satellites in orbit

  • The Indian Space Research Organisation (Isro) successfully launched Polar Satellite Launch Vehicle-C53, which placed three satellites in orbit from the second launchpad at SatishDhawan Space Centre in Sriharikota.
  • This was the second dedicated commercial mission of NewSpace India Limited (NSIL), the commercial arm of Isro. It had on June 23 launched GSAT-24 in its first “demand-driven” communication satellite mission post space sector reforms, leasing the entire capacity on board to Direct-to-Home (DTH) service provider Tata Play.
  • In a statement issued on Thursday, Isro said that the PSLV-C53 was “successfully launched at 6.02pm.”
  • The four-stage, 44.4m tall PSLV-C53 rocket that blasted off from the second launch pad of SatishDhawan Space Centre, placed the three Singaporean satellites – DS-EO, NeuSAR and SCOOB-1 – in an intended orbit of 570km.
  • “It is designed to orbit the DS-EO satellite along with two other co-passenger satellites from Singapore. This is the 55th mission of the PSLV and the 15th mission using the PSLV-core alone variant. It is the 16th PSLV launch from the second launch pad. The mission proposes to demonstrate the utilisation of the spent upper stage of the launch vehicle as a stabilised platform for scientific payloads subsequent to the separation of the satellites,” read the Isro statement.
  • Scientists said that after around 18 minutes of the lift-off, the rocket injected the three Singapore satellites into their respective orbits.
  • Isro chairperson S Somnath also confirmed the launch, and congratulated NSIL for achieving another milestone.


Rafael Nadal makes shocking retirement revelation after Wimbledon 2nd round win

  • Battling through his chronic foot injury - the Mueller Weiss syndrome, to be more precise - Rafael Nadal bagged to astonishing title wins in Australian Open and French Open. 
  • Her came back from the pain to win his first major at Melbourne Park since 2009 and battled through it to extend his record to an unthinkable 14th title at the Roland Garros. 
  • Nadal however went through a pulse radiofrequency treatment before he made his return to Wimbledon this year, and has already reached the third round of the tournament. But following his win at the Centre Court, Nadal made a massive revelation about his retirement.
  • Following the win in Paris, Nadal travelled to Barcelona for the treatment. He then spent his time in Mallorca, recovering from the treatment before he practised on grass to gear up for his first Wimbledon appearance in three years.

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