Current Affairs for BANK, IBPS Exams - 13 June 2022

Bank Exam Current Affairs

Current Affairs for BANK, IBPS Exams - 13 June 2022


Rahul quizzed by ED, several Cong leaders detained

  • National Herald case LIVE updates: Rahul Gandhi has appeared before the Enforcement Directorate in the National Herald case. Several Congress workers and leaders were sitting on a dharna near the central agency office amid the Wayanad MP's grilling. 
  • The Congress is staging protests across the country against what they allege is a vendetta by the Narendra Modi government. Senior Congress leaders including P Chidambaram, Digvijaya Singh, Ashok Gehlot, Bhupesh Baghel took part in the ‘satyagraha’ march. 
  • Congress spokesperson Randeep Surjewala said that the party's ‘Satyagraha’ march will continue despite the Delhi Police denying permission to the party to hold protests. 
  • Security has been beefed up near the ED office. The Bharatiya Janata Party has hit back at the Congress protest, calling the demonstrations a ‘fake satyagraha'.
  • Congress workers took to streets in various parts of the country, including Ahmedabad. Several Congress workers were detained while protesting ED probe against Rahul Gandhi in the National Herald case.

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Internet Explorer retires in two days after 27 years in service

  • Microsoft will retire its oldest browser Internet Explorer on June 15 after 27 years of service. The company had been releasing warnings for the people and organizations still reliant on the browser's service. A similar warning was issued in March too.
  • The Internet Explorer app was first released in 1995 as an add-on package for Windows 95. It was, however, later provided for free as part of the package.
  • One of the reasons is its declining user base. Even though the browser reached a peak of 95 per cent usage in 2003, it was unable to maintain its position as users declined dramatically.
  • Another reason is tough competition from other browsers in the market. Many competitors entered the browser market and began offering better user interfaces, faster internet speeds, and smoother performance.
  • According to a report by Mashable, after the desktop app goes out of support, Microsoft will push out a Windows Update that completely removes Internet Explorer from Windows 10 devices altogether and redirects users to Edge if they try to access the app.
  • "Not only is Microsoft Edge a quicker, more secure, and more contemporary browsing experience than Internet Explorer, but it also addresses a crucial concern: compatibility for older, legacy websites and applications," he added further.
  • Microsoft halted new browser feature development in 2016, and this may be the first time the tech giant has decided to phase out Internet Explorer. Netizens were both nostalgic and insane after the new break.


Loan demand is bouncing back after 2 yrs of credit contraction: SBI chief

  • Consumer cutbacks due to raging inflation and higher borrowing costs are failing to dent investment plans at Indian businesses tapping the country’s biggest lender, a sign that a recovery in Asia’s third-largest economy is gathering pace.
  • Companies are steadily drawing down from a $71 billion loan pipeline, Dinesh Kumar Khara, chairman of State Bank of India, told Bloomberg News in an interview at his Mumbai office. Loan growth at the 216-year-old lender, a banker to one out of every three Indians, is expected to be robust, underpinned by demand from businesses after two straight years of credit contraction, Khara said.
  • That broadly mirrors a trend where loan growth in India’s Rs 120 trillion ($1.5 trillion) banking system is expanding annually at its fastest pace in three years. While part of the credit demand is to cover rising costs, the rest is going into business expansion and investments for capacity addition.
  • “Whether it is working capital loans or term loans, the draw downs have been rising, and the ratio of pipeline to loan book narrowed by at least six percentage points in recent months,” Khara said. “Capacity utilization at several sectors like iron and steel is full, and if we get a good monsoon too this year, things will get way better.”

PMC Bank case fallout: RBI asks UCBs to make higher provisions

  • The Reserve Bank on Friday issued fresh provisioning norms for urban cooperative banks' inter-bank exposure as well as valuation of their perpetual non-cumulative preference shares and equity warrants, directing them to continue making provisions to the tune of 20 per cent for such exposures.
  • The banking regulator came up with these rules in the wake of the bankruptcy of the corruption-ridden Punjab & Maharashtra Cooperative Bank (PMC) in September 2019 and the subsequent merger of the cooperative bank with Unity Small Finance Bank, which came into effect from January 25, 2022.
  • Earlier, similar directions were issued after the board of the largest cooperative bank was superseded by the RBI and the subsequent circulars on these matters issued on April 20, 2020 and on January 25, 2022.
  • "UCBs shall continue to make provisions on inter-bank exposures arising from outstanding uninsured deposits, as under the April 20, 2020 circular until the actual allotment of PNCPS (Perpetual Non-Cumulative Preference Shares)/equity warrants.

::Science and tech::

China released the world's most detailed map of the moon

  • China has released a new comprehensive geologic map of the moon, the “most detailed" to date, which is expected to make a vital contribution to scientific research, exploration and landing site selection on the Earth’s only natural satellite. 
  • Chinese scientists from multiple research institutes and universities have created the high resolution topographic map based on data from China’s lunar exploration Chang’e project and other data and research findings from international organisations, the state-run China Global Television Network (CGTN) reported on Wednesday. The new comprehensive geologic map of the moon is to a scale of 1:2,500,000, the “most detailed to date", the report said.
  • The map includes 12,341 impact craters, 81 impact basins, 17 rock types and 14 types of structures, providing abundant information about geology of the moon and its evolution. It is expected to make a great contribution to scientific research, exploration and landing site selection on the moon.
  • The Institute of Geochemistry of the Chinese Academy of Sciences has led the project, along with other organisations such as Chinese Academy of Geological Science, China University of Geosciences and Shandong University.
  • The map was published by Science Bulletin on May 30.


R Pragyanand wins Norway Chess Group A Open Chess Tournament

  • Tournament favorite and the top seed of the event, GM Praggnanandhaa won Norway Chess Open 2022 convincingly. He scored an unbeaten 7.5/9 and finished a full point ahead of the competition. In the final round, Praggnanandhaa beat fellow countryman, IM Prraneeth Vuppala to win the tournament. 
  • He won 32000 NOK (approx. ₹2.57 lacs) cash as his prize. The 16-year-old performed at 2676 and gained 6.4 Elo rating points. 
  • Prraneeth was the only other Indian taking part in this event. He scored 6/9, secured sixth place and earned 3000 NOK (approx. ₹24158). Check out Praggnanandhaa's games from the event. Photo: Lennart Ootes/Norway Chess.

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