Current Affairs for BANK, IBPS Exams - 26 July 2022

Bank Exam Current Affairs

Current Affairs for BANK, IBPS Exams - 26 July 2022


Only 375 of 6,000 vacancies filled in central universities: Centre

  • Only 375 faculty positions in central universities have ben filled out of some 6,000 vacancies, according to data submitted by the education ministry in Parliament on Monday, despite a directive in September last year to rectify the situation speedily.
  • All the central universities must to fill the 6,000 plus vacant teaching posts within a year, education minister Dharmendra Pradhan had ordered in September 2021.
  • “The Ministry of Education has given directive to all its higher educational institutions to undertake special drive to fill vacancies in their institutions on ‘Mission Mode’ within a period of one year starting from September, 2021. Since September 2021, 916 posts of faculty have been filled in the various institutions,” Pradhan said in the Lok Sabha through a written response to a question by YSR Congress MPs Vallabhaneni Vamsi and Balasouri Krishnadevaraya Lavu on teaching vacancies.
  • Of these, 375 recruitments took place in central universities, 355 in Indian Institutes of Technology (IITs), 71 in National Institutes of Technology (NITs), 84 in Indian Institutes of Information Technology (IIITs), 27 in Indian Institutes of Science Education and Research, and four in Schools of Planning and Architecture, the ministry data showed.
  • As many as 6,549 teaching posts across 45 central universities are currently vacant, according to another set of data shared by the ministry in the Lok Sabha last week. The maximum number of vacancies were in Delhi University (900), followed by Allahabad University (622), Banaras Hindu University (532), Aligarh Muslim University (498) and Jawaharlal Nehru University (326).
  • Of these, 2,252 are in the general category, 988 in the scheduled caste category, 576 in the scheduled tribe category, 1,761 in other backward classes, 628 in economically weaker sections, and 344 in persons with disabilities.
  • “Occurring of vacancies and filling thereof is a continuous process. The vacancies arise due to retirement, resignation and additional requirements on account of enhanced students’ strength,” the ministry on July 18 informed Parliament, explaining the reason behind the delay in recruitment. “The institutions are adopting various measures to address faculty shortages in order to ensure that studies of students are not affected, which includes engaging research scholars, contract, re-employed, adjunct and visiting faculty.”

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Europe struggles to end reliance on Russian gas as Putin weaponizes export

  • European Union nations struggled Monday to find common ground on how to wean the bloc off its reliance on Russian natural gas, seeking to appease wary, stressed consumers at home while upholding unity as Moscow turns down the tap.
  • Russian President Vladimir Putin has weaponized gas exports to pressure the bloc into reducing its sanctions over the war in Ukraine or to push other political aims. Ukrainian President Volodymyr Zelenskyy on Monday called Russia’s cuts to gas deliveries “a form of terror” and urged European countries to respond by tightening sanctions on Moscow.
  • On the eve of an emergency meeting to discuss plans to cut EU gas use 15% over the coming months, envoys on Monday were still brokering a possible compromise that should keep all 27 nations in line by Tuesday night.
  • “This a still a work in progress,” said a senior diplomat who asked not to be identified because the talks were still ongoing.
  • The bloc is bracing for a possible full Russian cutoff of natural gas supplies that could add a big chill to the upcoming winter, leaving nations like economic juggernaut Germany especially exposed. But some other EU countries, like Spain and Portugal, which have little dependence on Russian gas, do not want to force such a major cut on their people.
  • It was what European Commission President Ursula von der Leyen had seen coming when she announced the plan. She is convinced that Putin will cut off natural gas exports to try to wreak economic and political havoc in Europe this winter.
  • “This is exactly the sort of scenario the president was referring to last week,” said Commission spokesman Eric Mamer. “This development validates our analysis. We therefore hope that the Council will adopt an appropriate response.
  • “First and utmost" was the need to put EU nations in charge of deciding when such cuts should become mandatory, the diplomat said. Yielding some of their powers over energy policy to EU officials in Brussels has long been anathema in some national capitals. Hungarian officials were in Moscow last week, reportedly seeking additional energy imports.


PSU debt serviced by a state to be brought under its FRBM limit: Govt.

  • The Centre has informed the states that if any of their state-owned companies, special purpose vehicles or agencies borrow from the markets, and that debt is serviced by the state government, then the borrowing will be considered under the states’ fiscal responsibility and budget management (FRBM) limit.
  • This was revealed by Finance Minister Nirmala Sitharaman in a written reply tabled in Lok Sabha .
  • Instances of borrowings by certain state PSUs, SPVs and other equivalent instruments, where principal and/or interest are to be serviced out of the state budgets, had come to the notice of the Ministry of Finance, she said in the reply.
  • “Considering the effect of bypassing the net borrowing ceiling of the states by such borrowings, it was decided and communicated to the States in March 2022 that such borrowings shall be considered as borrowings made by the State itself for the purpose of issuing the consent under Article 293(3) of the Constitution of India,” she said.
  • In her 2022-21 Union Budget, Sitharaman had announced that states would be allowed to borrow upto 4 percent of their gross state domestic product, instead of the earlier 3 percent norm, in view of stresses caused to their finances due to the Covid-19 pandemic.

Indian Rupee at over 1 week high on broad dollar losses; bond yields slip

  • The rupee appreciated 14 paise to close at 79.76 (provisional) against the US dollar  tracking strong regional peers and soft greenback.
  • At the interbank forex market, the local unit opened at 79.86 against the greenback and finally settled at 79.76 (provisional), registering a rise of 14 paise over its previous close.
  • During the session, the local unit witnessed an intra-day high of 79.70 and a low of 79.87 against the American currency.
  • In the previous session, the rupee had closed at 79.90 against the American currency.
  • The dollar index, which measures the greenback's strength against a basket of six currencies, was down 0.38 per cent at 106.32.
  • According to Dilip Parmar, Research Analyst, HDFC Securities, the Indian rupee started the week on the front foot following stronger regional currencies and weaker crude oil prices.
  • "We have entered the Fed week with markets back to their expectation of a 75 bps move on Wednesday from 100 bps a few weeks back," Parmar said, adding that spot USD/INR is having support at 79.30 and resistance remains around 80.10.
  • On the domestic equity market front, the BSE Sensex ended 306.01 points or 0.55 per cent lower at 55,766.22, while the broader NSE Nifty declined 88.45 points or 0.53 per cent to 16,631.00.
  • Foreign Institutional Investors (FIIs) were net sellers in the capital market on Friday as they sold shares worth Rs 675.45 crore, as per exchange data.

::Science and tech::

China launches Wentian, second of three space station modules

  • In the latest step in its ambitious space programme, China on Sunday launched the second of three modules needed to complete its new space station, news agency AFP reported citing state media.
  • Wentian was propelled by a Long March 5B rocket at 0622 GMT from the Wenchang launch centre on China's tropical island of Hainan.
  • Beijing launched the central module of its space station Tiangong -- which means "heavenly palace" -- in April 2021.
  • Almost 60 feet long and weighing 22 tonnes, the new module has three sleeping areas and space for scientific experiments.
  • It will dock with the existing module in space, a challenging operation that experts said will require several high-precision manipulations and the use of a robotic arm.
  • Wentian will also serve as a backup platform to control the space station in the event of a failure.
  • The final module to complete the space station is scheduled to dock in October, and Tiangong is expected to become fully operational by the end of the year.
  • The station will then assume its final T-shape, and be similar in size to the former Russian-Soviet Mir station.
  • The world's second-largest economy has poured billions into its military-run space programme, with hopes of having a permanently crewed space station and eventually sending humans to the Moon.


Wrestler Bajrang Punia complains over physio’s CWG non-inclusion

  • After woman boxer Lovlina Borgohain, another Tokyo Olympics medallist, wrestler Bajrang Punia, has complained that his personal physio Anand Dubey has not been included in the contingent for the Commonwealth Games despite several request to the officials.
  • Punia, currently training in Michigan, US has Dubey with him. He said his request was forwarded by the Wrestling Federation of India but the Indian Olympic Association is yet to include him in the list.
  • “The federation has arranged a UK visa for my physio and he is with me here in the US but I don’t know what will happen after that. He will travel with me to Birmingham but what is the point of having him if he is not given accreditation. He will not have access to venues,” Punia said from his Michigan base.
  • “I have also spoken to IOA officials but so far nothing has happened,” he said. Punia recovered from a knee injury only recently and needs a physio familiar with his condition.

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