Banking and Economy PDF March 2022

Banking and Economy Awareness PDF – March 2022
This PDF Capsule contains all Banking and Economy Related news and events for the month of March 2022
along with questions. This will be useful for all upcoming Banking and Insurance sector exams.
Latest GDP Rate projections for India

Agency 2021-22 (FY22) 2022-23 (FY23) 2023-24 (FY24)
World Bank 8.00% 6.80%
RBI 7.20%
ADB 7.50% 8.00%
FICCI Survey 7.50%
India Ratings & 9.30% 7.00-7.20%
Research
ICRA 8.50% 7.20%
UNCTAD CY2022 – 4.6%
OECD 9.40% 8.10% 5.50%
Moody’s CY2022 – 9.1% CY2023 – 5.4%
1 www.byscoop.com | One stop solution for Current Affairs, Banking Awareness and Static GK
Subscribe us on YouTube Like our Facebook Page Join our Telegram Channel Follow us on Twitter
Morgan Stanely 7.90%

NSO 8.9% (second –
advance
estimates)
1. Bank of Maharashtra has tied up with Mahagram to roll out the ‘Bank Sakhi’ project in
Odisha
 Bank of Maharashtra has partnered 1. Bank of Maharashtra has partnered with which
with Mahagram (a fintech company) to roll firm to roll out the ‘Bank Sakhi’ project?-
out the ‘Bank Sakhi’ project in Mahagram
Odisha. Mahagram would provide the Bank 2. Bank of Maharashtra has partnered with
of Maharashtra with financial technology and Mahagram to roll out ‘Bank Sakhi’ project in
infrastructure support to augment rural which state?- Odisha
financial inclusion. 3. Mahagram fintech company is based in
 As part of this partnership, Mahagram has Mumbai
onboarded more than 11,000 bank sakhis 4. BharatATM platform was launched by?-
(women) on the BharatATM platform to help Mahagram
the rural citizens avail basic banking services
at their doorstep or the next door Kirana
stores.
 BharatATM platform is a rural banking
platform that offers banking services to small
merchants and customers through its assisted
banking app. It was launched by Mahagram in
December 2020.
2. HDFC Bank finances Asia’s largest waste to energy plant in Indore- Gobar-Dhan plant
 HDFC Bank has partnered with Indore Clean 1. Which bank has partnered with Indore Clean
Energy Private Limited (ICEPL) for the Energy Private Limited (ICEPL) for the
development of Gobar-Dhan plant in development of Gobar-Dhan plant in Indore?-
Indore under its Environmental, social, and HDFC Bank
governance (ESG) commitments.
 The 550-tonne capacity “Gobar-Dhan (Bio-
CNG) Plant” was inaugurated by PM Modi in
Indore, Madhya Pradesh on February 19,
2022. This is the biggest Bio-CNG plant in
Asia. It has been set up at a cost of Rs 150
crore.
 Indore Clean Energy Pvt Ltd (ICEPL) is
promoted by Green Growth Equity Fund
(GGEF), which is the largest climate impact
fund in India with anchor investors like NIIF &
Government of UK.
3. 46th Civil Accounts Day celebrated on March 02, 2022

 The 46th Civil Accounts Day was celebrated 1. As a part of the 46th CAD celebration, FM
on March 02, 2022, at Dr. Ambedkar Sitharaman launched a major e-governance
International Centre, Janpath, New Delhi. initiative- the Electronic Bill (e-Bill) processing
 Minister for Finance & Corporate Affairs Smt. system as part of ease of doing business and
Nirmala Sitharaman was the Chief Guest at Digital India eco-system.

the event. 2. The e- Bill system will be implemented across
 The Civil Accounts Day has been organised all Central Ministries and Departments to
every year by the Indian Civil Accounts enhance transparency, efficiency and faceless-
Service (ICAS), since its inception in 1976. paperless payment system.
 ICAS is one of the Civil Services of India. It
comes under the Department of Expenditure,
Union Ministry of Finance.
4. Finance Minister launches e-Bill system to enable paperless submission and digital
processing of bills
 The Union Minister for Finance & Corporate 1. The e-Bill system has been developed by?-
Affairs Smt. Nirmala Sitharaman launched Public Financial Management System (PFMS)
the e-Bill system for Central Government 2. The bills under e-Bill system will be processed
Ministries. The e-Bill system was launched by which system/method?- FIFO
on the 46th Civil Accounts Day i.e March 02,
2022.
 Objective: The system will allow all
vendors/suppliers of the central government
to submit their bills/claims at anytime, from
anywhere.
 The e-Bill system has been developed by the
Public Financial Management System
(PFMS) Division of Ministry of Finance.
The bills will be processed by First-In-First-
Out (FIFO) method.
 The system has been initially rolled out in the
nine Pay and Accounting Units of nine
Ministries/Departments and will be rolled out
in other Ministries/Departments in a phased
manner in 2022-23.
5. LIC Mutual Fund appoints TS Ramakrishnan as MD and CEO

 TS Ramakrishnan has been appointed as 1. Who has been appointed as the new MD &
the managing director and chief executive CEO of LIC Mutual Fund?
officer (MD & CEO) of LIC Mutual Fund with 2. TS Ramakrishnan is the new MD & CEO of
effect from March 01, 2022. which company?
 Ramakrishnan replaces Dinesh Pangtey.
6. Axis Bank commits USD 150 million loan to healthcare sector via SAMRIDH facility
 Axis Bank has signed an MoU with IPE Global 1. What amount of loan has Axis Bank sanctioned
for strengthening India’s healthcare for the healthcare sector under SAMRIDH
infrastructure by providing affordable finance facility?- USD 150 million
of up to USD 150 million (about Rs 1,140 2. Which bank has sanctioned a loan of USD 150
crore) through SAMRIDH. million under the SAMRIDH facility?- Axis Bank
 What is SAMRIDH: SAMRIDH Healthcare 3. SAMRIDH full form?- Sustainable Access to
Blended Finance Facility is an initiative of the Markets and Resources for Innovative Delivery
Government of India wherein a pool of fund of Healthcare
is used to improve the health infrastructure, 4. USAID headquarters?- Washington, D.C.,
strengthen the skills of healthcare providers United States
in India.
 SAMRIDH is supported by United States
Agency for International Development
(USAID) and Indian Institute of Technology-
Delhi (IIT-D).
 SAMRIDH stands for Sustainable Access to
Markets and Resources for Innovative
Delivery of Healthcare (SAMRIDH).
7. SBI appoints ex-Ujjivan Small Finance Bank CEO Nitin Chugh as DMD
 State Bank of India (SBI) has appointed Nitin 1. Which bank has appointed Nitin Chugh as
Chugh as Deputy Managing Director (DMD) to Deputy Managing Director (DMD)?
drive digital banking operations. 2. Nitin Chugh has served as CEO and MD of
 Nitin Chugh is a former Ujjivan Small Finance which bank?- Ujjivan Small Finance Bank
Bank CEO. He has also served as the Group
Head of Digital Banking at HDFC Bank.
8. RBI to observe Digital Payments Awareness Week (DPAW) from March 7-11, 2022
 The Reserve Bank of India will observe Digital 1. When is Digital Payments Awareness Week
Payments Awareness Week (DPAW) from celebrated by RBI in 2022?
March 7-11, 2022. 2. Theme of Digital Payments Awareness Week
 The theme of Digital Payments Awareness 2022 of RBI?
Week (DPAW) 2022 is: “Outreach and
Availability of Digital Payments”.
 The week is being observed to celebrate the
17th Foundation Day of Department of
Payment and Settlement Systems (DPSS) on
March 7. DPSS is responsible for managing
Payments Systems in India.
9. Axis Bank and Airtel announces partnership to boost India’s digital ecosystem
 Axis Bank and Bharti Airtel have entered 1. Bharti Airtel has joined hands with which
into a strategic partnership to strengthen bank to accelerate India’s digital ecosystem?
the growth of digital ecosystem in India, 2. Airtel has launched a co-branded credit card
through a range of financial solutions. with which bank to strengthen the growth of
 The partnership would enable access to India’s digital ecosystem
credit and various digital financial offerings 3. Axis Bank MD and CEO – Amitabh Chaudhry
from Axis Bank to Airtel’s 340 million plus 4. Bharti Airtel MD and CEO (India and South
customers. Asia) Gopal Vittal
 These will include first-of-its-kind co-
branded credit card ‘Airtel Axis Bank Credit
Card’ with industry leading benefits, pre-
approved instant loans, Buy Now Pay Later
offerings and many more.
10. RBI launches “BE(A)WARE” – A Booklet on Modus Operandi of Financial Frauds

 Reserve Bank of India has launched a booklet 1. Name of booklet launched by RBI on Modus
named “BE(A)WARE” which features common Operandi of Financial Frauds?- BE(A)WARE
modus operandi used by fraudsters and 2. Which organisation has launched book
precautions to be taken while carrying out BE(A)WARE?- RBI
various financial transactions.
 The booklet aims to enhance public
awareness about various types of financial
frauds perpetrated on gullible customers
while carrying out digital payments and other
financial transactions.
11. RBI launches UPI123pay for feature phones and DigiSaathi- a 24×7 Helpline for Digital
Payments
 Reserve Bank of India has launched two 1. Name of UPI facility launched by RBI for
initiatives related to digital payments on feature phones?
March 08, 2022. One is UPI123pay- which 2. Name of 24×7 Helpline for Digital Payments
provides UPI payment facility on feature launched by RBI?
phones and the second is “DigiSaathi” which
is a 24×7 Helpline for Digital Payments. The
details of the two initiative is given below:
 The UPI123pay will provide the users of
feature phones the option to use Unified
Interface Payments (UPI) for making
payments. For this, UPI123 pay presently
offers four mediums/options to the users of
feature phones to make UPI payments. These
four options are given below:
 App-based Functionality- An app would be
installed on the feature phone through which
several UPI functions, available on
smartphones, will also be available on feature
phones.
 Missed Call: Under this facility users of
feature phones can make payments at the
merchant outlet by giving a missed call on the
number displayed at the merchant outlet.
The customer will receive an incoming call to
authenticate the transaction by entering UPI
PIN. The users can also access their bank
account and perform routine transactions
such as receiving, transferring funds, regular
purchases, bill payments, etc., by giving a
missed call.
 Inter-active Voice Response (IVR): UPI
payment through pre-defined IVR numbers
would require users to initiate a secured call
from their feature phones to a predetermined
number and complete UPI on-boarding
formalities to be able to start making
financial transactions without internet
connection.
 Proximity Sound-based Payments: This uses
sound waves to enable contactless, offline,

and proximity data communication on any
device.
 The name UPI123pay denotes that the UPI
payment can be done in three (123) easy
steps i.e. 1. Call 2. Choose and 3. Pay
Presently the option available for feature
phone users for digital payments is of USSD
which is a bit cumbersome and not popular.
The launch of UPI123pay will improve the
payments ecosystem for more tha 40 crore
users of feature phones in India.
 “DigiSaathi”- 24×7 Helpline for Digital
Payments
 This service will provide users with
automated responses on information related
to digital payment products and services.
Presently it is available in English and Hindi
language.
Users can access DigiSaathi via any of the
following mode:
toll-free number (1800-891-3333),

a short code (14431),
website – http://www.digisaathi.info, and
chatbots.
12. HDFC Mutual Fund launches Missed Call Advisory Service #LaxmiForLaxmi for Women
Investors
 HDFC Mutual Fund has launched an end-to- 1. #LaxmiForLaxmi campaign has been launched
end women-led missed call advisory service by which mutual fund house?
#LaxmiForLaxmi on the occasion of
International Women’s Day 2022.
 #LaxmiForLaxmi is a financial empowerment
campaign for women under which women
investors will be connected to a woman
financial expert near them through a missed
call service.
 The woman financial expert will then guide
and address queries of woman investors, to
better understand concepts such as why and
how to invest in a mutual fund, benefits of
systematic investment plans (SIPs), etc.
 Through this initiative HDFC Mutual Fund
aims to support women investors in
becoming financially independent and make
mutual fund investments more accessible to
them.
13. Sebi raises UPI limit for investing in debt securities to Rs 5 lakh
 The Securities and Exchange Board of India 1. What is the investment limit for retail
(SEBI) has increased the investment limit for investors applying in public issues of debt
retail investors applying in public issues securities with the facility to block funds
of debt securities with the facility to block through the Unified Payments Interface (UPI)
funds through Unified Payments Interface mechanism?- Rs 5 lakh
(UPI) mechanism from Rs 2 lakh to Rs 5 lakh. 2. What is the investment limit for investors
 Debt securities can include Non-convertible applying for IPO via UPI facility?- Rs 5 Lakh
Securities, Securitised Debt Instruments,
Security Receipts, Municipal Debt Securities
and Commercial Paper.
 This has been done to bring uniformity in UPI
limit allowed in IPO subscription. Earlier NPCI
had increased the per transaction limit in UPI
from Rs. 2 lakh to Rs. 5 lakh for UPI-based
Application Supported by Blocked Amount
(ASBA) Initial Public Offer(IPO).
14. ToneTag launches VoiceSe UPI digital payments for feature phone users, in partnership
with NSDL Payments Bank
 ToneTag has partnered with NSDL Payments 1. Which bank has launched “VoiceSe UPI
Bank and NPCI to launch its “VoiceSe UPI payments service” ?- NSDL Payments Bank
payments service” for feature phone users, 2. “VoiceSe UPI payments service” has been
This comes after the Reserve Bank of India launched by?- ToneTag and NSDL Payments
has launched the UPI 123Pay facility that Bank
enables UPI payments for feature phone
users.
 ToneTag is a sound-based proximity
communication and payments service
provider based in Bengaluru, Karnataka.
 To access the “VoiceSe UPI payments service”
feature phone users need to call on the IVRS
number 6366 200 200.
15. Axis Bank launches ‘HouseWorkIsWork’ initiative to bring educated urban women to
workforce
 Axis Bank has rolled out an initiative 1. HouseWorkIsWork campaign has been
called ‘HouseWorkIsWork’ to offer launched by which bank?
opportunities to such urban educated
women who want to rejoin the professional
space.
 The initiative has been launched as the bank
feels that the participation of urban educated
women in the workforce is still not at desired
levels.
 Through HouseWorkIsWork initiative, the
bank aims to get these women back to work,
by giving them confidence that they are
employable, they have skills and they can fit
in various job roles in a bank.
16. India and World Bank inks US$125 million loan to support access to Social Protection
Services in West Bengal
 The World Bank has signed a $125 million 1. How much amount of loan has been approved
loan agreement with the Government of India by World Bank for West Bengal to give access
and the Government of West Bengal to to social protection services to poor and
support efforts in giving access to social vulnerable groups?
protection services to poor and vulnerable 2. Which financial institution has approved loan
groups in the state. worth USD 125 million for West Bengal
 The loan for the project titled West Bengal Building State Capability for Inclusive Social
Building State Capability for Inclusive Social Protection Project.
Protection Project, will be extended through
IBRD.
17. NaBFID to be regulated as AIFI under RBI Act

 RBI has announced that National Bank for 1. NaBFID shall be regulated by RBI under which
Financing Infrastructure and act?- RBI Act 1934 (Sections 45L and 45N )
Development (NaBFID) will be regulated 2. How many AIFIs are there under RBI?- 5
and supervised by it as an All India
Financial Institution (AIFI) under the RBI
Act, 1934.
 NaBFID will be regulated and supervised
by RBI as an AIFI under Sections 45L and
45N of the Reserve Bank of India Act,
1934.
 Presently RBI has four AIFIs under it
namely EXIM Bank, NABARD, NHB and
SIDBI. NaBFID will be the fifth AIFI under
RBI.
 NaBFID has been set up as a Development
Financial Institution (DFI) to support the
development of long-term infrastructure
financing in India.
18. RBI directs Paytm Payments Bank Ltd to stop onboarding of new customers
 The Reserve Bank of India has directed Paytm 1. RBI has stopped which bank recently from
Payments Bank Ltd to stop the onboarding of onboarding new customers?
new customers with immediate effect. 2. RBI has barred aytm Payments Bank Ltd to
 RBI has taken this step under the power stop the onboarding of new customers under
conferred to it under section 35 A of the which section of which act? section 35 A of the
Banking Regulation Act, 1949. Banking Regulation Act, 1949.
 RBI has advised Paytm Payments Bank to
appoint an IT audit firm to conduct a
comprehensive System Audit of its IT
system. Once the audit is over, RBI will
review the reports of IT auditors and based
on the reports grant or review its permission
for onboarding of new customers.
19. Debasish Panda appointed as Chairman of IRDAI

 Debasish Panda has been appointed as 1. Who has been appointed as the Chairman of
the chairman of the Insurance Regulatory and IRDAI?- Debasish Panda
Development Authority of India (IRDAI).
 Debasish Panda is a former financial services
secretary. The post of Chairman of IRDAI was
lying vacant since May 2021 when Subhash
Chandra Khuntia completed his term.
 IRDAI is the regulatory body of insurance in
India and is headquartered in Hyderabad.
20. EPFO lowers interest rate on PF deposits to 8.1 pc for 2021-22

 The retirement fund body, Employees 1. The interest rate on PF deposit for 2021-22 is
Provident Fund Organisation (EPFO) has what percent lower than in 2020-21?
slashed interest rate on provident fund 2. What is the interest rate for provident fund
deposits to 8.10% for 2021-22. This rate deposits fixed by EPFO for 2021-22?
is 0.4% lower than previous year.
 The interest rate on PF deposit was 8.5% in
2020-21 and 2019-20.
 The decision was taken at the 230th meeting
of Central Board of Trustees, EPF on March
12, 2022 under the Chairmanship of Shri
Bhupendra Yadav, Union Minister for Labour
& Employment and Environment, Forest &
Climate Change.
21. RBI issues Regulatory Framework for Microfinance Loans

 The Reserve Bank of India has released the 1. FOIR full form?- fixed obligation to income
framework for Microfinance Loans. The most ratio
important points from the exam point of view 2. RBI has fixed the FOIR for NBFC-MFIs at?- 50%
are given below: 3. What is the minimum requirement of
 A microfinance loan is defined as a collateral- microfinance loans for NBFC-MFIs?- 75% of
free loan given to a household having an total assets
annual household income up to Rs. 3,00,000. 4. What is the maximum limit on microfinance
 RBI has removed the cap on the number of loans for NBFCs other than NBFC-MFIs?- 25%
NBFC-MFIs who can provide loans to of total assets
microfinance borrowers. Instead, it has 5. microfinance loan is defined as a collateral-
focused on borrowers’ repayment capacity free loan given to a household having annual
and accordingly capped the fixed obligation household income up to ____?- Rs 3 lakh
to income ratio (FOIR) at 50 per cent.
 The minimum requirement of microfinance
loans for NBFC-MFIs has been revised to 75
per cent of the total assets.
 The maximum limit on microfinance loans for
NBFCs other than NBFC-MFIs has been
revised to 25 per cent of the total assets.
22. NPCI launches “UPI Lite – On-Device wallet” functionality for UPI user
 National Payments Corporation of India (NPCI) 1. UPI Lite has been launched by?- NPCI
designed the “UPI Lite – On-Device wallet” (“UPI 2. Name the UPI payment facility launched
Lite”) functionality for UPI user for small value by NPCI for small value transaction upto
transactions. Rs 200?- UPI Lite
 About 75% of the total volume of retail 3. What is the upper limit of an UPI Lite
transactions (including cash) in India are below payment transaction?- Rs 200
₹100 transaction value. Further, 50% of the total 4. What is the total limit of UPI Lite balance
UPI transactions are having a transaction value of for an “On-device wallet”?- Rs 2000
up to ₹200/-. To easily process such small value
transactions, NPCI has launched this facility of “UPI
Lite”.
 In phase 1, UPI Lite will process transactions in near
offline mode i.e. debit offline and credit online, and
at a later point, UPI Lite will process transactions in
complete offline mode i.e. debit and credit both
offline.
 The upper limit of a UPI Lite payment transaction
shall be Rs. 200 .The total limit of UPI Lite balance
for an “On-device wallet” shall be Rs. 2,000 at any
point of time.
 Replenishment of funds in UPI Lite shall only be
allowed in online mode with additional factor
authentication (AFA) or using UPI AutoPay which
has been registered by the User in online mode
with AFA.
23. RBI Innovation Hub partners with IIT Madras to boost fintech startups
 RBI Innovation Hub (RBIH) and IIT Madras 1. RBIH has partnered with which institute to
Incubation Cell (IITMIC) have signed an MoU boost fintech startups in India?
to work together in developing the ecosystem 2. Who is the CEO of RBIH?
necessary to support and scale fintech
startups in India.
 RBIH is a wholly-owned subsidiary of Reserve
Bank of India. Rajesh Bansal is the CEO of RBI
Innovation Hub (RBIH).
 Select startups incubated at IITM Incubation
Cell will be considered from time to time by
RBIH for co-incubation and thereby receive
strategic and operational guidance, training
and mentoring sessions by RBIH leadership.
24. Govt increases timeline for startups for converting debt investment into equity to 10
years
 The government has increased the timeline 1. What is the timeline allowed for startups to
for startups to convert debt investments convert debt investments made in the
(convertible note) made in the company into company into equity shares?- 10 years
equity shares up to ten years. Earlier this limit
was five years.
 An investor can invest in a startup through
convertible notes, which is a kind of
debt/loan instrument. In such cases the

investor is given the option that if the startup
performs well or achieves some performance
milestones in future, the investor can ask the
startup to issue equity shares of the company
against the money that they had initially
invested as loan/debt.
 Earlier the option of changing convertible
notes into equity shares was allowed for up
to five years from the day when initial
convertible note was issued. Now that
timeline has been extended to ten years.
25. SBI to set up Innovation, Incubation and Acceleration Centre in Hyderabad, Telangana
 State Bank of India (SBI) will set up an 1. SBI will set up its Innovation, Incubation and
Innovation, Incubation and Acceleration Acceleration Centre (IIAC) in which city/state?
Centre (IIAC) at Hyderabad, Telangana.
 The objective of this Innovation, Incubation
and Acceleration Center is to build in-house
capability to improves its current
performance and drive higher top-line growth
through innovation.
 The center will be operational in about six to
nine months’ time from on-boarding a
consultant.
26. HDFC Bank to launch “SmartHub Vyapar programme” and “Autofirst” application for
small business loans
 HDFC Bank has announced to launch the 1. Which bank has announced the launch of
following two initiatives/applications to give AutoFirst application for fully automatic auto
a digital push to small business loans. loans?- HDFC Bank
 ‘AutoFirst’ application: that will offer fully 2. Which bank has announced the launch of
automated auto loans. SmartHub Vyapar programme?- HDFC Bank
 SmartHub Vyapar programme– It is an app
that bundles all payment platforms – cards,
UPI, QR code, tap pay and SMS-based
payments. The programme for merchants will
be launched soon and is in the pilot phase.
27. Kotak, Axis acquire 7.84% stake each in ONDC

 Kotak Mahindra Bank and Axis Bank have 1. ONDC full form?
acquired 7.84% stake each in Open Network 2. ONDC is an initiative of? DPIIT under Ministry
for Digital Commerce (ONDC). of Commerce and Industry.
 Before this, SBI (7.84%) and PNB (9.5%) have 3. Stake of Axis Bank in ONDC?- 7.84%
also acquired a stake in ONDC. Stake of Kotak Mahindra Bank in ONDC?- 7.84%
 ONDC was incorporated in India on December
30, 2021. It aims for creating an open public
digital infrastructure to develop and
transform the Indian digital commerce
ecosystem for both goods and services.
 Open Network for Digital Commerce (ONDC)

is been managed by Department for
Promotion of Industry and Internal Trade
(DPIIT), Ministry of Commerce and Industry.
28. Govt sets Rs 1-trillion infrastructure lending target for DFI for 2022-23
 Central Government has set a target of about 1. What is the Governments infrastructure
Rs 1 trillion for the National Bank for lending target for Development Finance Instit-
Financial Infrastructure and ution (DFI) for 2022-23?= Rs 1 trillion
Development (NaBFID) for sanctioning loans
to the infrastructure sector in the next
financial year i.e 2022-23.
 NaBFID is a government-backed Development
Finance Institution (DFI) and will start
operations in the first quarter of 2022-23.
 KV Kamath is the chairman of NaBFID.
29. Pralay Mondal appointed as interim MD and CEO of CSB Bank

 The Reserve Bank of India has approved 1. CSB Bank Limited is an Indian private sector
the appointment of Pralay Mondal as bank with its headquarters at Thrissur, Kerala
the interim Managing Director and CEO of 2. Pralay Mondal has been appointed as the MD
CSB Bank. Presently he is the Managing and CEO of which bank?- CSB Bank
Director at CSB Bank.
 The post of MD and CEO at CSB Bank was
lying vacant after its full-time MD and CEO, C
V R Rajendran announces early retirement on
health grounds (w.e.f March 31, 2022)
 RBI has approved the appointment of Pralay
for three months from April 1, or till the
appointment of a regular Managing Director
and CEO of CSB Bank, whichever is earlier.
30. Chile’s Mario Marcel wins the Governor of the year award 2022
 Mario Marcel, the Governor of the Central 1. Who has won the Governor of the year award
Bank of Chile, has won the Governor of the at the Central Banking Awards 2022?- Mario
year award at the Central Banking Awards Marcel, the Governor of the Central Bank of
2022. Chile
 Banco Central de Chile is the name of the 2. Mario Marcel is the Governor of Central Bank
central bank of Chile. of which country?- Chile
31. First wildlife bond issued by World Bank to save Africa’s black rhino- Worth- $150 million
1. The World Bank (International Bank for 1. Which organisation has issued the Wildlife
Reconstruction and Development, IBRD) has Conservation Bond (WCB)/ Rhino Bond?-
issued the Wildlife Conservation Bond World Bank/ IBRD
(WCB) to support of South Africa’s efforts to 2. What is the total amount of Wildlife
conserve endangered species of Black Rhino. Conservation Bond (WCB)?- $150 million
2. Wildlife Conservation Bond (WCB) is also 3. What is the maturity of Wildlife Conservation
known as “Rhino Bond”. It is a five-year $150 Bond (WCB)?- 5 years
million Sustainable Development Bond. It

includes a potential performance payment
from the Global Environment Facility (GEF).
3. The bond will contribute to protecting and
increasing black rhino populations in two
protected areas in South Africa namely
the Addo Elephant National Park (AENP) and
the Great Fish River Nature Reserve (GFRNR).
32. Shaktikanta Das inaugurates Reserve Bank Innovation Hub in Bengaluru

 Shri Shaktikanta Das, Governor of RBI has 1. Where is the Reserve Bank Innovation Hub
inaugurated the Reserve Bank Innovation (RBIH) located?- Bengaluru
Hub (RBIH) on March 24, 2022 in Bengaluru, 2. What is RBI’s initial contribution to Reserve
Karnataka Bank Innovation Hub (RBIH)?= Rs 100 crore
 RBI has set up the RBIH with an initial capital 3. RBI has how many wholly owned
contribution of Rs. 100 crore. The objective of subsidiaries?= 5
RBIH is to encourage and nurture financial
innovation in a sustainable manner through
an institutional set-up. It has been setup as a
Section 8 company under Companies Act,
2013.
 Reserve Bank Innovation Hub (RBIH) is one of
the five wholly-owned subsidiaries of the RBI.
33. Shaktikanta Das lays Foundation Stone of Learning and Development Centre (LDC) of
BRBNMPL in Mysuru
 Shri Shaktikanta Das (Governor of Reserve 1. In which city has the Learning and
Bank of India (RBI)) has laid the foundation Development Centre (LDC) of Bharatiya
stone for the establishment of a Learning and Reserve Bank Note Mudran Private Limited
Development Centre (LDC) of the Bharatiya (BRBNMPL) been set up?
Reserve Bank Note Mudran Private Limited 2. SPMCIL is a wholly owned Schedule ‘A’
(BRBNMPL) in Mysuru. Miniratna Category-I company of Government
 Bharatiya Reserve Bank Note Mudran Private of India
Limited (BRBNMPL) is a wholly-owned 3. BNPMIPL is a joint venture of BRBNMPL and
subsidiary of RBI. SPMCIL.
 LDC is being established with active
collaboration from Security Printing and
Minting Corporation of India Limited
(SPMCIL) and Bank Note Paper Mill India
Private Limited (BNPMIPL).
 LDC will act as a forum for robust knowledge
dissemination, thus ensuring that the best
practices, experiences, and innovations are
shared efficiently in a congenial environment
to ensure uniformity in banknote production,
quality and supply. This centre will be
governed by BRBNMPL.
34. RBI Governor dedicates Varnika Ink Manufacturing Unit of BRBNMPL to the Nation
 Bharatiya Reserve Bank Note Mudran Private 1. Name of Ink Manufacturing Unit of BRBNMPL
Limited (BRBNMPL) has set up an Ink dedicated to the nation by RBI governor?-
Manufacturing Unit named “Varnika” in Varnika
Mysuru, with an annual ink manufacturing 2. Where is the Ink Manufacturing Unit “Varnika”
capacity of 1,500 MT to enhance the security located?
of banknotes. 3. What is the annual ink capacity of Ink
 Bharatiya Reserve Bank Note Mudran Private Manufacturing Unit “Varnika”?- 1500 MT
Limited (BRBNMPL) a wholly owned
subsidiary of RBI.
 Shri Shaktikanta Das (Governor of RBI) has
dedicated “Varnika”, the Ink Manufacturing
Unit of Bharatiya Reserve Bank Note Mudran
Private Limited (BRBNMPL) to the nation in
Mysuru.
 It is a boost to ‘Make in India’ initiative. It
ensures that the entire requirement of
banknote printing inks is produced in-house.
This unit also manufactures Colour Shift
Intaglio Ink (CSII) and meets the entire
requirements of banknote printing presses in
India, which has resulted in cost efficiency
and self-sufficiency in banknote ink
production.
35. Government extends Emergency Credit Line Guarantee Scheme by one year until March
2023
 Central Government has extended 1. Total amount to be sanctioned under the
the Emergency Credit Line Guarantee Scheme Emergency Credit Line Guarantee Scheme
(ECLGS) by one year, beyond March 2022 (ECLGS) 3.0?- Rs 3 lakh crore
until March 2023. 2. ECLGS 3.0 will be effective till_________?
 The total amount to be sanctioned under March 2023
the ECLGS 3.0 scheme has also been
increased from Rs 4.5 lakh crore to Rs 5 lakh
crore.
 As on March 25, 2022, Rs 3.19 trillion
loans has been sanctioned under the ECLGS
scheme.
 The ECLGS was announced as part of the
Aatma Nirbhar Bharat Package of Central
Government to provide fully guaranteed and
collateral-free additional credit to MSMEs,
business enterprises, individual loans for
business purposes and MUDRA borrowers.
36. ADB and HSBC India partners to establish $100 million Partial Guarantee Program for
Microfinance in India
 Manila-based Asian Development Bank 1. HSBC India has inked agreement with which
(ADB) has signed an agreement with HSBC financial body to establish USD 100 million
India to establish a USD 100 million partial partial guarantee programme for MFIs?
guarantee programme to support micro- 2. What is the total size of the partial guarantee
borrowers with special weightage to women- programme launched by ADB and HSBC India
run micro-enterprises across India. for MFIs?
 Under the deal, HSBC will expand its lending 3. HSBC India – Mumbai
to microfinance institutions (MFIs) and non- 4. ADB- Manila, Philippines
bank finance companies, while multilateral
funding agency, ADB will provide partial
guarantee to the loans.
 The initiative will support more than 4 lakh
borrowers.
 It has also been decided that an aggregated
financing equivalent to $30 million will be
disbursed to three MFIs across India
by April 2022.
37. RBI extends timeline for banks to use lockable cassettes in ATMs by a year to March 31,
2023
 The Reserve Bank of India (RBI) had advised 1. Deadline for banks to implement lockable
banks to consider using lockable cassettes in cassettes swaps in all their ATMS?
their ATMs, which shall be swapped at the
time of cash replenishment.
 Banks were directed to implement the
lockable cassette swap in a phased manner,
such that at least one-third ATMs operated by
them is covered every year, while all ATMs
achieve cassette swap by March 31, 2021.
 However, this deadline was later extended to
March 31, 2022.
 Further, upon receiving representations from
various banks for facing difficulties in meeting
the timeline, RBI has further extended the
timeline for implementation of cassette swap
in all ATMs by a year till March 31, 2023.
38. CBDT signed 62 Advance Pricing Agreements (APAs) in FY 2021-22

 The Central Board of Direct Taxes 1. Total APAS signed by CDBT till date, since its
(CBDT) signed 62 Advance Pricing Agreements inception?
(APA) with Indian taxpayers in FY 2021-22. 2. Total APAs signed by CBDT in FY22?
 This included 13 Bilateral APAs (consequent
to Mutual Agreement between India and its
treaty partners) and 49 Unilateral APAs.
 With this, the total number of APAs has gone
up to 421, since inception of the APA program
 In the previous two years, total APAs signed
included 31 APAs in FY 2020-21 and 57 APAs
in FY 2019-20.
 An advance pricing agreement (APA) is a
multilateral or bilateral agreement between a
tax authority and a taxpayer on transfer
pricing methodology (TPM), for a set of
international transactions issued for multiple
years.
39. Cabinet approves increase in Dearness Allowance/Dearness Relief by 3% to 34% from

January 01, 2022
 The Union Cabinet chaired by the Prime 1. What is the overall rate of DA/DR approved by
Minister, Shri Narendra Modi, has approved a Union Cabinet for Central Govt employees and
hike in Dearness Allowance (DA) to Central pensioners w.e.f January 01, 2022?
Government employees and Dearness Relief
(DR) to pensioners by 3 percent to 34%, over
the existing rate of 31% of the Basic
Pay/Pension.
 The hike announced will be effective
from January 1, 2022, to compensate for price
rise.
 The combined impact on the exchequer on
account of both Dearness Allowance and
Dearness Relief would be Rs.9,544.50 crore
per annum.
40. Google Pay collaborates with Pine Labs to offer ‘Tap to Pay’ for UPI
 Tech giant Google Pay has launched ‘Tap to 1. Tap to Pay for UPI feature has been launched
Pay for UPI’, a new functionality to bring the by which platform?
seamless convenience of Tap to Pay
to Unified Payments Interface (UPI).
 The initiative has been launched in
collaboration with Pine Labs.
 So far, Tap to Pay facility was only available
for cards.
41. RBI set WMA Limit for Government of India for the first half of the Financial Year 2022-23
at Rs 1,50,000 crore
 The Reserve Bank of India has set the limit for 1. WMA limit for central govt for April 2022 to
Ways and Means Advances (WMA) for September 2022?= Rs 1.5 Lakh Crore
Central Govenment for the first half of the 2. Interest rate charged by RBI on WMA given to
financial year 2022-23 (April 2022 to Central Govt?= Repo Rate
September 2022) at Rs. 1,50,000 crore.
 The Reserve Bank may trigger fresh floatation
of market loans when the Government of
India utilises 75 per cent of the WMA limit.
 The interest rate on WMA/Overdraft will be:
 WMA: Repo Rate
 Overdraft: Two percent above the Repo Rate
*************************************************************************************
Government keeps interest rates on Small Savings Schemes unchanged for Q1 of 2022-23 (April-June
2022)
 The Ministry of Finance has decided to keep the interest rates unchanged on small savings schemes or post
office schemes for the Quarter -1 of FY2022-23 (April-June 2022).
 The interest rates on the various instruments for April-June 2022 range from 4.0 percent to 7.6 percent.
 It must be noted that the Government notifies the Interest rates for small savings schemes on a quarterly
basis.
 This is the eighth consecutive quarter when the interest rates on small savings instruments remained
unchanged.
Various Interest Rates for Quarter-1 (April-June) of 2022-23 are listed below:
Small Savings Instruments Interest Rate For Apr-June 2022 Compounding frequency
Savings deposit 4.0% Annually
One-year time deposit 5.5% Quarterly
Two-year time deposit 5.5% Quarterly
Three-year time deposit 5.5% Quarterly
Five-year time deposit 6.7% Quarterly
Five-year recurring deposit 5.8% Quarterly
Senior Citizen Savings Scheme 7.4% Quarterly and Paid
Monthly Income Account 6.6% Monthly and Paid
National Savings Certificate 6.8% Annually
Public Provident Fund Scheme 7.1% Annually
Kisan Vikas Patra 6.9% Annually
Sukanya Samriddhi Account Scheme 7.6% Annually
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Banking and Economy Awareness PDF – March 2022

Latest GDP Rate projections for India

Morgan Stanely 7.90%

3. 46th Civil Accounts Day celebrated on March 02, 2022

Nirmala Sitharaman was the Chief Guest at Digital India eco-system.

5. LIC Mutual Fund appoints TS Ramakrishnan as MD and CEO

10. RBI launches “BE(A)WARE” – A Booklet on Modus Operandi of Financial Frauds

sound waves to enable contactless, offline,

toll-free number (1800-891-3333),

17. NaBFID to be regulated as AIFI under RBI Act

19. Debasish Panda appointed as Chairman of IRDAI

20. EPFO lowers interest rate on PF deposits to 8.1 pc for 2021-22

21. RBI issues Regulatory Framework for Microfinance Loans

debt/loan instrument. In such cases the

27. Kotak, Axis acquire 7.84% stake each in ONDC

 Open Network for Digital Commerce (ONDC)

29. Pralay Mondal appointed as interim MD and CEO of CSB Bank

million Sustainable Development Bond. It

32. Shaktikanta Das inaugurates Reserve Bank Innovation Hub in Bengaluru

38. CBDT signed 62 Advance Pricing Agreements (APAs) in FY 2021-22

39. Cabinet approves increase in Dearness Allowance/Dearness Relief by 3% to 34% from

Read Our Study Materials and Quiz

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