Current Affairs for BANK, IBPS Exams - 22 August 2022

Bank Exam Current Affairs

Current Affairs for BANK, IBPS Exams - 22 August 2022


Odisha government distributes free sanitary pads in flood-affected areas

  • Floods have wreaked havoc in Odisha over the past few days, with the deluge affecting more than 700,000 people in 10 coastal and interior districts, but one of the most remarkable measures taken by the state government is to distribute free sanitary pads to girls and women in the marooned areas.
  • “Proper medical care along with sanitation measures is essential for women/girls who are marooned due to the floods. Hence, you are requested to kindly instruct CDMO to procure sanitary/hygienic as emergency sanitation measures (emergent relief) and distribute them to women/girls in the marooned areas. The cost of such expenditure shall be borne by SRC out of SDRF,” wrote special relief commissioner Pradeep Jena in his letter to collectors of the 10 flood-hit districts of Khordha, Puri, Cuttack, Kendrapara, Jagatsinghpur, Nayagarh, Balasore, Bhadrak, Keonjhar and Boudh.
  • The flood situation in Balasore and Mayurbhanj, located on the Subrankarekha river basin, continued to be grim with hundreds of villages in the seven blocks getting marooned by the rising river water. With Galudih barrage in Jharkhand on Subarnarekha river releasing 600,000 cusecs of water, it continued flow above the danger level in Rajghat area of Balasore.
  • As per data from the Central Water Commission (CWC), the water level of Subarnarekha at Rajghat was 11.90 metres at 9 am today against the danger level of 10.36 metres. As per CWC’s forecast, the water level may go down to 11.50 metres at around 9 pm today. Similarly, Jalkariver was flowing at 6.54 metres at Mathani in the district at 9 AM against the danger level of 5.50 metres.
  • Four blocks in Balasore – Baliapal, Bhograi, Jaleswar and Basta, and three blocks of Mayurbhanj – Rasagovindpur, Saraskana and Badasahi, are likely to be affected by the floods. Excess water has inundated several low-lying areas of Bhograi and Baliapal blocks. Around 25 villages in Baliapal block have been marooned by the flood.

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Russia detains IS suicide bomber plotting terrorist attack in India: Report

  • The Russian Federal Security Service (FSB) on Monday said that its officers had detained a suicide bomber, a member of the Islamic State terrorist group, who was plotting a terrorist attack against one of India's leadership elite, Russia news agency Sputnik reported.
  • "Russia's FSB identified and detained a member of the Islamic State international terrorist organization banned in Russia, a native of a country in the Central Asian region, who planned to commit a terrorist act by blowing himself up against one of the representatives of the ruling circles of India," the authority said in a statement.
  • The detained was recruited by one of the IS leaders as a suicide bomber in Turkey, the statement added .
  • This story is still developing and more information is awaited in this regard.
  • Islamic State and all its manifestations have been notified as Terrorist Organization and included in the First Schedule to the Unlawful Activities (Prevention) Act, 1967 by the Central Government.
  • According to Home Ministry, IS is using various internet-based social media platforms to propagate its ideology. Cyberspace is being closely watched in this regard by the agencies concerned and action is taken as per law.


DICGC to make payments to depositors of 17 co-op banks in October

  • The Deposit Insurance and Credit Guarantee Corporation (DICGC) will be making payments to the eligible depositors of 17 cooperative banks, including eight from Maharashtra, in October.
  • The Reserve Bank of India (RBI) had imposed several restrictions, including on withdrawals, by depositors of these 17 banks in July in view of their deteriorating financial positions.
  • DICGC, a wholly-owned subsidiary of the RBI, provides an insurance cover of up to Rs 5 lakh on bank deposits.
  • Of the 17 cooperative banks, eight are in Maharashtra, four in Uttar Pradesh, two in Karnataka, and one each in New Delhi, Andhra Pradesh and West Bengal.
  • The cooperative banks from Maharashtra are: SahebraoDeshmukh Co-operative Bank, SangliSahakari Bank, RaigadSahakari Bank, NashikZillaGirnaSahakari Bank, SaibabaJanataSahakari Bank, AnjangaonSurjiNagariSahakari Bank, Jaiprakash Narayan NagariSahakari Bank, and The Karmala Urban Co-op Bank.
  • As per the DICGC, the banks from Uttar Pradesh whose eligible depositors will be paid in October are: Lucknow Urban Co-op Bank, Urban Co-operative Bank (Sitapur), National Urban Co-op Bank (Bahraich), and United India Co-op Bank (Nagina).
  • The banks in Karnataka are: Sri MallikarjunaPattanaSahakari Bank Niyamita (Maski) and ShriSharadaMahila Co-operative Bank (Tumkur).
  • Eligible depositors of Ramgarhia Co-operative Bank (New Delhi), Suri Friends Union Co-op Bank (Birbhum, Suri, West Bengal), and Durga Co-op Urban Bank (Vijayawada, Andhra Pradesh) too will be paid by the DICGC in October.
  • The DICGC said the eligible depositors should support their claims by valid document/s of identity and written consent to receive the amount lying in credit of their deposit accounts subject to a maximum of Rs 5 lakh, along with alternate bank account details into which the said amount will be credited.
  • Depositors will be paid by credit to the alternate bank account specified by depositors, or on their consent, to their Aadhaar linked bank account, it said.
  • Deposit insurance extended by the DICGC covers all commercial banks, including local area banks and regional rural banks as well as co-operative banks in all the states and UTs.
  • The entity has been extending insurance cover to depositors with the objective of maintaining the confidence of small depositors in the banking system of the country and promoting financial stability.
  • The Deposit Insurance and Credit Guarantee Corporation (Amendment) Act, passed by Parliament in 2021, made significant changes in the landscape of deposit insurance in India.

Sebi urges intermediaries to join accounts aggregator framework

  • The Securities and Exchange Board of India (Sebi) has directed stock market intermediaries such as asset management companies (AMCs) and depositories to join the account aggregator framework introduced by the Reserve Bank of India (RBI).
  • The market regulator also set rules that will specifically be applicable to players in the stock market ecosystem joining the aggregator framework.
  • The account aggregator is an RBI-regulated non-banking financial company (NBFC). It facilitates retrieval or collection of financial information pertaining to a customer from financial information providers (FIP). It is on the basis of explicit consent of the customer.
  • “The FIPs in the securities market will provide the financial information through any of the account aggregators registered with the RBI. Further, FIPs in the securities market will enter into a contractual framework with the account aggregator,” Sebi said in a circular on Friday.
  • FIPs are entities that possess the financial information of a customer.
  • These are banks, AMCs, pension funds or depositories.
  • They represent the “source” of personal or business data that financial information users (FIUs) can access via requests through an aggregator.
  • FIUs are entities that use this data to offer financial products and services to their customers.
  • Sebi has said that FIPs in the securities market will be allowed to provide “financial information” to customers, who furnish their consent through any of the account aggregators registered with the RBI.
  • Further, FIPs in the securities market — while entering into a contractual framework with the aggregators — will have to specify the rights and obligations of each party and also the modalities of a dispute resolution mechanism.
  • Launched in September 2021, account aggregators are licensed NBFCs that enable instant exchange of financial data between FIP and FIUs. They are responsible for providing services that include the transfer — but not storing — of a customer’s data.
  • The Sebi circular emphasises on data protection.


Novak Djokovic gets huge indication on US Open hopes

  • With Novak Djokovic's US Open participation hanging by a thread, organisers of the Grand Slam has reminded fans from abroad that they won't be able to enter the country without proof of vaccination. "At this time, ticket holders will not be required to show proof of COVID vaccination for admission into the US Open," a statement on their website reads.
  • "However, please note that if you are travelling from abroad to attend the US Open, you must be fully vaccinated with the primary series of an accepted COVID vaccine to travel to the United States (this applies to non-U.S. citizens and/or non-U.S. immigrants)."
  • Djokovic's wife Jelena lashed out at a journalist for criticisingDjokovic's vaccination status. Taking to Twitter, tennis journalist Ben Rothenberg stated that Wimbledon could be 'Djokovic's last Grand Slam event of the year'. Calling him the 'anti-vaxposterboy', Rothenberg also explained that the Serb won't be able to participate in the US Open due to the country's immigration law. But the journalist received backlash from Djokovic's wife Jelena, who called his narrative judgemental.

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