Current Affairs for BANK, IBPS Exams - 18 July 2022

Bank Exam Current Affairs

Current Affairs for BANK, IBPS Exams - 18 July 2022


Droupadi Murmu Vs Yashwant Sinha in race to Raisina

  • NDA presidential candidate Droupadi Murmu is contesting the election against opposition's nominee Yashwant Sinha. The numbers are stacked in Murmu's favour after she received support from unlikely quarters with parties like Shiv Sena, Jharkhand Mukti Morcha extending their support recently. She had already received support from Biju Janata Dal and YSR Congress Party. 
  • Yashwant Sinha, the former union minister, was chosen opposition candidate after Sharad Pawar, Farooq Abdullah and Mahatma Gandhi's grandson, Gopakrishna Gandhi, refused to run for the post. On Saturday, he made an appeal to BJP lawmakers urging them to vote for him. 
  • The president is indirectly elected through an electoral college which comprises members of parliament of both houses and members of legislative assemblies of all states and union territories. The nominated members are unable to vote.
  • During the exercise, it was ensured that all MPs cast their votes in an accurate manner so that not a single vote from the ruling alliance goes invalid during the meeting. Dummy ballot papers and a pen similar to the one used for actual voting in the presidential election were used for this exercise, the sources said.
  • At the conclusion of the drill, Murmu reached parliament and was facilitated by BJP president JP Nadda, Apna Dal leader Anupriya Patel, RLJP leader Pashupati Paras and others.
  • Murmu interacted with NDA MPs on Sunday and thanked them for nominating her as their presidential candidate.

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Zelensky sacks two top Ukraine officials as EU mulls Russia sanctions

  • Ukraine faced new turmoil Sunday with President Volodymyr Zelensky announcing he sacked his top two law enforcement officials, in the government's most serious shakeup since Russia launched its deadly invasion in February.
  • The domestic crisis came as the European Union prepared to discuss tightening sanctions against Russia on Monday, and as Kyiv accused Moscow of launching fresh strikes on multiple residential areas in eastern and southern Ukraine.
  • The new attacks came after Moscow announced it would step up its military operations and Ukraine accused Russia of installing missile launchers at Europe's largest nuclear plant.
  • Zelensky said he was firing prosecutor general Iryna Venediktova and security chief Ivan Bakanov amid a high number of cases of suspected treason by Ukrainian law enforcement officials.
  • In a national address, Zelensky said over 650 cases of suspected treason and aiding and abetting Russia by Ukrainian security officials are currently being investigated, including 60 cases of officials who he said have remained in territories occupied by Russia and are "working against our state."
  • Zelensky also highlighted the devastating military might Moscow has used against Ukraine, saying that as of Sunday Russian forces have launched more than 3,000 cruise missiles on targets in Ukraine.
  • With the conflict grinding on and increasingly spilling out into global energy and food crises, EU foreign ministers are considering banning gold purchases from Russia.
  • And more Russian figures could also be placed on the EU blacklist.
  • "Moscow must continue to pay a high price for its aggression," European Commission President Ursula von der Leyen said after forwarding the proposed measures.
  • The heaviest fighting continues to focus on the industrial east of Ukraine, and on Sunday, Donetsk regional governor Pavlo Kyrylenko accused Moscow of shelling "civilian infrastructure, especially education institutions".


Reserve Bank remains net buyer of US currency in May; buys $2 billion

  • The Reserve Bank of India (RBI) remained net buyer of the US currency in May, after it purchased USD 2.001 billion on net basis from the spot market, the RBI data showed.
  • In the reporting week, the Reserve Bank of India (RBI) purchased USD 10.143 billion from the spot market and sold USD 8.142 billion, according to the RBI's bulletin for July 2022, released.
  • In April 2022, the central bank net bought USD 1.965 billion. It had purchased USD 11.965 billion and sold USD 10 billion in the spot market during the month.
  • During the fiscal 2022, the central bank had net purchased USD 17.312 billion. It had bought USD 113.991 billion and sold USD 96.679 billion in the spot market in FY2022.
  • In the forward dollar market, the outstanding net purchase at the end of May 2022 stood at USD 49.191 billion, compared to USD 63.826 billion in April, the data showed.

RBI, Bank Indonesia agree to expand cooperation in payment systems

  • The Reserve Bank of India and Bank Indonesia on Saturday entered into an agreement to expand cooperation in payment systems, digital financial innovation, and anti-money laundering and combating the financing of terrorism (AML-CFT).
  • The two central banks signed a Memorandum of Understanding (MoU) in Bali on the sidelines of the G20 Finance Ministers and Central Bank Governors Meeting to improve mutual cooperation.
  • "With this MoU, RBI and BI committed to deepen relations between both central banks and strengthen the exchange of information and cooperation in the area of central banking, including payment systems, digital innovation in payments services, and regulatory and supervisory framework for AML-CFT," the RBI said in a statement.
  • The MoU will be implemented through policy dialogue, technical cooperation, exchange of information and joint work.
  • It was signed by RBI Deputy Governor Michael Debabrata Patra and BI Deputy Governor Dody Budi Waluyo in the presence of RBI Governor Shaktikanta Das and BI Governor Perry Warjiyo.
  • "This MoU serves as a significant milestone in the relation between Bank Indonesia and Reserve Bank of India. It has been a long period of time since we began cooperating productively, and this MoU will only ensure a more solid collaboration in the future.
  • "Going forward, I am convinced that such excellent partnership will result in fruitful outcomes that benefit both central banks and the people of both nations," Governor Warjiyo said.
  • He also expressed the hope that "going ahead, the MoU will enable us to further deepen our relations and facilitate our endeavour to make our financial systems accessible, inclusive and secure."
  • The RBI further said the MoU will also provide a good basis for promoting mutual understanding, developing efficient payment systems and achieving cross-border payment connectivity.

::Science and tech::

Loss of male sex chromosome leads to earlier death for men: Study

  • New research shows the loss of the male sex chromosome as many men age causes the heart muscle to scar and can lead to deadly heart failure. The finding may help explain why men die, on average, several years younger than women.
  • UVA researcher Kenneth Walsh, PhD, says the new discovery suggests that men who suffer Y chromosome loss estimated to include 40% of 70-year-olds may particularly benefit from an existing drug that targets dangerous tissue scarring. The drug, he suspects, may help counteract the harmful effects of chromosome loss effects that may manifest not just in the heart but in other parts of the body as well.
  • "Particularly past age 60, men die more rapidly than women. It's as if they biologically age more quickly," said Walsh, the director of UVA's Hematovascular Biology Center. "There are more than 160 million males in the United States alone. The years of life lost due to the survival disadvantage of maleness is staggering. This new research provides clues as to why men have shorter lifespans than women."
  • While women have two X chromosomes, men have an X and a Y. But many men begin to lose their Y chromosome in a fraction of their cells as they age. This appears to be particularly true for smokers. The loss occurs predominantly in cells that undergo rapid turnover, such as blood cells. (Loss of the Y chromosome does not occur in male reproductive cells, so it is not inherited by the children of men who exhibit Y chromosome loss.) Scientists previously observed that men who suffer Y chromosome loss are more likely to die at a younger age and suffer age-associated maladies such as Alzheimer's disease. Walsh's new research, however, is believed to be the first hard evidence that chromosome loss directly causes harmful effects on men's health.
  • The scientists also looked at the effects of Y chromosome loss in human men. They conducted three analyses of data compiled from the UK Biobank, a massive biomedical database, and found that Y chromosome loss was associated with cardiovascular disease and heart failure. As chromosome loss increased, the scientists found, so did the risk of death.


Man United agree $58M fee for Ajax defender Martinez

  • The center back flew into England this weekend to finalize the move which will see him rejoin manager Erik ten Hag, who moved to United from Ajax.
  • “Manchester United is delighted to announce the club has reached agreement with Ajax for the transfer of Argentine international defender Lisandro Martínez, subject to medical, to player terms being finalized, and to UK visa requirements,” United said in a statement.
  • Ajax said the transfer fee will be 57.37 million euros ($57.9 million) with a potential further 10 million euros for the Dutch club in conditional add-ons.

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