Current Affairs for BANK, IBPS Exams - 23 March 2022

::National::

NCRTC introduces India's first rapid rail coaches for Delhi-Meerut corridor

The National Capital Regional Transport Corporation (NCRTC) has unveiled the coaches of India’s first rapid rail for the Delhi – Meerut corridor.
The Regional Rapid Transit System (RRTS) train will run on the Delhi-Ghaziabad-Meerut corridor and cover a distance of 82 km in just 55 minutes. The new RRTS train is a completely new design of train designed to provide a good travelling experience for passengers.
The coaches will be equipped with modern features including wide standing space, CCTV cameras, sockets for laptop and mobile charging, dynamic route maps, auto control ambient lighting system and heating ventilation and air conditioning system.
The RRTS train will be the first in the country to have a business or ‘premium’ coach on a regional corridor. The train will be capable of accommodating 1500 passengers at once. The train has been designed to have a setting resembling the one on an aircraft.

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::International::

Bangladesh is the most polluted country in the world: World Air Quality Report

Bangladesh was the most polluted country in the world in 2021, says the World Air Quality Report prepared by the Swiss-based air quality technology company IQAir in its latest report released.
In terms of particulate matter in the air, Bangladesh recorded an average PM2.5 level of 76.9 micrograms per cubic metre in 2021 against the World Health Organisation (WHO) recommended maximum permissible level of 5 micrograms per cubic metre.
Earlier, in 2018, 2019 and 2020 also Bangladesh was found to be the most polluted country in the world. However, the PM2.5 level has shown a decline in Bangladesh from 77.1 micrograms per cubic metre in 2020 which was even higher at 83.3 in 2019 and 97.1 in 2018. The data reveals that not a single country in the world managed to meet the WHO's air quality standard in 2021. All over the world, 93 cities reported PM 2.5 levels at 10 times the recommended level. Among the cities, Dhaka was the second most polluted city in the world with a PM 2.5 level of 78.1 just below New Delhi which had a PM 2.5 level of 85.1 in 2021.
IQAir analysed data from 6475 cities across 117 countries for air quality in 2021 to arrive at the conclusion. Countries and regions in East Asia, Southeast Asia, and South Asia suffered from the highest annual average PM2.5 concentration weighted by population. In 2021, Central and South Asia had some of the world's worst air quality and was home to 46 of the world's 50 most polluted cities. According to the United Nations Environment Programme, 70 percent of global air quality related deaths occur in this region.

::Economy::

Fitch Ratings slashes India's FY23 growth forecast to 8.5%

Rating agency Fitch on Tuesday slashed India's growth forecast for the next fiscal to 8.5 per cent from 10.3 per cent, citing sharply high energy prices on account of the Russia-Ukraine war.
With the Omicron wave subsiding quickly, containment measures have been scaled back, setting the stage for a pick-up in GDP growth momentum in the June quarter this year, the agency said.
It has revised upwards the GDP growth forecast for the current fiscal by 0.6 percentage points to 8.7 per cent.
"However, we have lowered our growth forecast for FY 2022-2023 to 8.5 per cent (-1.8 pp) on sharply higher energy prices," Fitch said while revising up its inflation forecasts.
In its Global economic Outlook-March 2022, Fitch said the post-COVID-19 pandemic recovery is being hit by a potentially huge global supply shock that will reduce growth and push up inflation.
Russia supplies around 10 per cent of the world's energy, including 17 per cent of its natural gas and 12 per cent of oil.
" The jump in oil and gas prices will add to industry costs and reduce consumers' real incomes...Higher energy prices are a given," Fitch said as it cut the world GDP growth forecast by 0.7 percentage points to 3.5 per cent.
Observing that Indian GDP growth was very strong in the December quarter, the agency said the GDP is more than 6 per cent above its pre-pandemic level though it is still well below its implied pre-pandemic trend.

Regulatory Framework issued by RBI for Microfinance Loans

Microfinance institutions and an MFI-turned lender hailed the RBI's Regulatory Framework on microfinance loans announced on Monday saying that these guidelines will further deepen the penetration of micro-credit in the country.
The Reserve Bank of India (RBI) allowed microfinance lenders to fix interest rates on loans with a rider that those should not be usurious for the borrowers.
A microfinance loan is defined as a collateral-free loan given to a household having an annual income of up to Rs 3 lakh.
The framework for microfinance loans announced by the RBI will further help deepen penetration of micro-credit in the country, MD & CEO of Bandhan Bank C S Ghosh said.
Bandhan Bank is a microfinance company that got a universal banking licence some years ago.
The latest guidelines are a strong reflection of the maturity of MFIs in the country and will go a long way in harmonising the regulatory framework for different types of lenders, encouraging healthy competition and enabling customers to make an informed choice regarding their credit needs, Ghosh added.
The new framework will help scale the industry further, ensure better risk mitigation and financial inclusion, he said.
MD & CEO of Village Financial Services Kuldip Maity said this is indeed a welcome step and mark the beginning of a new era of the MFI sector.
The common regulatory framework will create a level playing field and both borrowers and lenders will now have options. The new framework will safeguard the interests of the borrowers and help the sector to cater to the needy borrowers, he said.
CEO and Director of MFIN Alok Misra said the framework is comprehensive and it will usher a new beginning in the MFI industry.
He said RBI has taken prudent steps on credit delivery and low-income households will now have access to credit.

::Sports::

World number 1 tennis player Ashleigh Barty announces retirement

Australia's world number one Ashleigh Barty on Tuesday announced her shock retirement from tennis aged just 25.
Barty has been the No.1-ranked WTA player for 114 consecutive weeks and counting. The outgoing Aussie is one month shy of her 26th birthday.
"It's the first time I've actually said it out loud and, yeah, it's hard to say," an emotional Barty told former doubles partner Casey Dellacqua in a video posted on her Instagram. "But I'm so happy, and I'm so ready."
"I don't have the physical drive, the emotional want and everything it takes to challenge yourself at the very top of the level any more. I am spent," she added.