Daily Current Affairs 7th Dec 2021 – News, MCQs & Videos

Get All the Important Current Affairs of 7th Dec 2021 in this blog. It covers all important sections like Banking Current Affairs, Finance Current Affairs, Sports Current Affairs, Latest Appointments, Awards and more. In this blog, you also get to solve Important Current Affairs MCQs of 7th Dec 2021.

Daily Current Affairs 7th Dec 2021

International News

India and the EU have agreed on a detailed work programme until 2023 to implement the
2016 EU-India Clean Energy and Climate Partnership with a focus on increasing technical
cooperation in the area of energy efficiency, renewable energy, cooperation within the
International Solar Alliance and green hydrogen.

As part of this strengthened cooperation, India and the EU will undertake new studies,
study visits and joint workshops, exchanging knowledge and best practices on these
areas.

Cambridge Dictionary: Word of the Year 2021

  • Cambridge Dictionary names ‘Perseverance’ (दृढ़ता) Word of the Year 2021
  • Perseverance has been looked up more than 243,000 times on the website in 2021, the first time it has made a noticeable appearance.
  • NASA’s Perseverance Rover made its final descent to Mars on 18 February.

American publishing company Merriam-Webster has chosen the word “vaccine” as
its 2021 Word of the Year.

  • Merriam-Webster is America’s most trusted online dictionary for English word definitions, meanings, and pronunciation.
  • It has been declaring the word of the year since 2008.
  • Vax’ has been chosen as the word of the year by the Oxford English Dictionary (OED) in 2021.
  • Vax derived from the Latin word vacca, which means cow.

National News

In accordance with the data by the Reserve Bank of India (RBI), Gujarat has surpassed
Maharashtra to become India’s leading manufacturing hub.

  • Its Gross Value Addition (GVA) in manufacturing grew 9% annually between FY12 to FY20 to Rs 5.11 lakh crore.
  • In terms of manufacturing, Maharashtra is followed by Tamil Nadu with a GVA of Rs 3.43 lakh crore at 3rd spot, Karnataka (4th) at Rs 2.1 lakh crore, and Uttar Pradesh-UP (5th) at Rs 1.87 lakh crore.
  • GVA= GDP + subsidies on products – taxes on products.

India reaches 40 per cent target of power from non-fossil fuel

  • In line with Prime Minister Narendra Modi’s announcement to achieve 500 GW of installed electricity capacity from non-fossil fuel sources by 2030 at COP26 Climate Conference, the government said it has already achieved 40% of the target.
  • As per the government, the country’s installed Renewable Energy (RE) capacity today stands at 150.05 GW while its nuclear energy-based installed electricity capacity stands at 6.78 GW.
  • Prime Minister Modi at COP26 Climate Conference in Glasgow, pledged India will achieve net-zero carbon emissions by 2070.

Financial News

  • Government has set up an asset management company (AMC) named India Debt Resolution Company Ltd (IDRCL) with a paid-up capital of Rs. 80.5 lakh on an authorized capital of Rs 50 crore.
  • IDRCL will work in tandem with the National Asset Reconstruction Company Ltd (NARCL) to clean up bad loans.
  • Public Sector Banks (PSBs) and Public FIs will hold a maximum of 49% stake while the remaining stake will be with private sector lenders
  • HQ: Mumbai

Banking News

4th Global SME Finance Awards 2021, constituted by the United States (US)-based SME
Finance Forum, conferred Honorable mention in the Best Bank for Women Entrepreneurs
category on the Thrissur, Kerala (India) based ESAF Small Finance Bank (SFB) Limited.

This acknowledgement is due to the gender equal opportunities provided by SFB through
universal financial access, livelihood and economic development including providing
microloans to women in unserved and underserved households in India.

  • With NABARD, the bank has organized a state-level Local Sustainable Economic Development Training Program to build financial literacy at basic levels.
  • 4th Global SME Finance Awards 2021, constituted by the United States (US)-based SME Finance Forum, conferred Honorable mention in the Best Bank for Women Entrepreneurs category
  • ESAF Small Finance Bank Limited has announced the latest ‘ESAF Go Green’ range of electric vehicle loan schemes that coincides with the 26th Conference of Parties (COP26).


▪ Founded: 2017
▪ Headquarters: Thrissur, Kerala
▪ Managing Director and CEO: Kadambelil Paul Thomas

Financial News

Paytm announced that its wholly-owned subsidiary Paytm Money has launched Portfolio
Management Services (PMS) Marketplace for HNI (High Networth Individuals) investors.

  • The marketplace has been launched in partnership with PMS advisory startup PMS Bazaar.
  • The platform aims to offer a transparent and comprehensive analysis of all PMS schemes for HNI investors.
  • PMS is an investment service offered to HNIs with SEBI mandating a minimum investment of ₹50 lakh.
  • The PMS marketplace will offer key parameters for PMS schemes such as total assets, inception date, benchmark, and fund manager details for each scheme.
  • Paytm Payments Bank Ltd (PPBL) has launched India’s first FASTag-based metro parking facility, at the Kashmere Gate metro station in partnership with Delhi Metro Rail Corporation (DMRC)
  • HDFC Bank and Paytm have partnered to build comprehensive solutions across payment gateway, point of sale machines and credit products.
  • Paytm Payments Bank has become the first bank in the country to achieve the milestone of issuing 1 crore FASTags.
  • Paytm has announced the launch of Postpaid Mini, small-ticket loans that will give users the flexibility to access loans ranging from Rs 250 – Rs 1,000, in partnership with Aditya Birla Finance Ltd.
  • HDFC Bank has announced its partnership with leading payments company Paytm, to offer co-branded credit cards on the Visa platform to businesspersons, millennials and merchants.
  • Reserve Bank of India (RBI) has imposed a penalty of Rs 1 crore on Paytm Payments Bank Limited (PPBL) over certain specified violations, as referred in Section 26 (2) of the Payment and Settlement Systems Act, 2007.
  • Paytm announced that its wholly-owned subsidiary Paytm Money has launched Portfolio Management Services (PMS) Marketplace for HNI (High Networth Individuals) investors.
  • The marketplace has been launched in partnership with PMS advisory startup PMS Bazaar.

Appointment

Pradip Shah, the founder of IndAsia Fund Advisors, has been appointed chairman of the
National Asset Reconstruction Company (NARCL).

  • Shah, an MBA from Harvard and chartered accountant, is credited for establishing India’s first and largest housing finance company, HDFC, and rating firm Crisil.
  • CEO: Padmakumar M Nair
  • While Aditya Birla Asset Reconstruction Company managing director Sanjay Jain will be the chief executive of India Debt Resolution Company (IDRCL), the privately-owned asset management company (AMC) mandated to resolve bad loans acquired by NARCL.

Unicorn company Oyo Hotels and Homes (Oyo) has appointed Rajnish
Kumar, former Chairman of State Bank of India (SBI) as Strategic Group Advisor.

  • In his role, Kumar will advise Oyo’s management on short-term and long-term strategy, regulatory and stakeholder engagement, and enhancing the brand of the company globally.
  • He is currently a part of the boards of HSBC Asia Pacific, L&T infotech, Hero Motocorp and BharatPe.


▪ OYO Rooms Founded: 2013;
▪ OYO Rooms CEO: Ritesh Agarwal

Bangalore based innovative, fast-growing fintech, Kinara Capital signed the Indian
cricketer Ravindra Jadeja, as its official brand ambassador on the occasion of the
company’s 10th anniversary
.

  • Kinara Capital provide loan service to India’s MSMEs.
  • Till date, Kinara Capital has disbursed 70,000 collateral-free loans.
  • Hardika Shah – Founder & CEO

List of brand ambassador
▪ Kids’ footwear brand Plaeto: Rahul Dravid
▪ TRIFED Aadi Mahotsav: MC Mary Kom
▪ Maharashtra COVID vaccination ambassador: Salman Khan
▪ Century LED’s Magik range: Sourav Ganguly
▪ GUVI, an IIT-M incubated startup: Smriti Mandhana
▪ 50th year Celebrations of Arunachal Pradesh: Sanjay Dutt
▪ UNESCO Goodwill Ambassador for Cultural and Creative Industries: Naomi Kawase

Centre has appointed Alka Upadhyaya as chairperson of the National Highways Authority
of India (NHAI).

  • A 1990-batch IAS officer of Madhya Pradesh cadre, Upadhyaya is currently Additional Secretary, Department of Rural Development.
  • Sanjay Bandopadhyay, Additional Secretary, Ministry of Ports, Shipping and Waterways, has been named chairman, Inland Waterways Authority of India, a Personnel Ministry order said.
  • Sundeep Kumar Nayak has been appointed as Director-General, National Productivity Council, Department for Promotion of Industry & Internal Trade.
Director General, National Mission for Clean GangaG Asok Kumar
entral Provident Fund Commissioner, Employees’ Provident Fund
Organization
Neelam Shammi Rao
Director General, National Productivity Council, Department for
Promotion of Industry & Internal Trade
Sundeep Kumar Nayak
Secretary, Department of Border Management.Dharmendra S Gangwar
Secretary, National Commission for Scheduled CastesUpma Srivastava
Secretary, Central Information CommissionJuthika Patankar
Special Secretary, Ministry of Food Processing IndustriesAnita Praveen
Additional Secretary, Department of CommerceAmit Yadav
Additional Secretary, Cabinet SecretariatAshish Srivastava
Additional Secretary, Ministry of Electronics & Information
Technology
Amit Agrawal
Establishment Officer & Additional Secretary, Department of
Personnel & Training
Deepti Umashankar
Additional Secretary, Department of RevenueVivek Aggarwal
Additional Secretary, Department of TelecommunicationsHari Ranjan Rao
Joint Secretary, Department of Home, Ministry of Home AffairsShyamal Misra

Award

Denmark’s Viktor Axelsen and China’s Taipei’s Tai Tzu Ying were named Male and
Female player of the year 2021 respectively by the Badminton World Federation (BWF).

  • It was the first season-ending award in this category for both Vicktor Axelsen and Tai Tzu Ying — the All England champions of 2020.
  • Viktor Axelsen is the Olympic champion and Tai Tzu Ying is the Tokyo Games silver medallist.


▪ Founded:1934
▪ Headquarters: Kuala Lumpur, Malaysia
▪ President: Poul-Erik Hoyer Larsen

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Current Affairs 7th Dec 2021 – MCQs

Q. Which state’s Chief Minister has launched a web portal named ‘Hamar Apan
Budget’ and a mobile application prepared by the state finance Department?


(a) West Bengal
(b) Jharkhand
(c) Karnataka
(d) Chhattisgarh
(e) Maharashtra

Answer: Option B


▪ Through this portal, the general public of the state can share their suggestions for
the 2022-23 budget.

Q. Ministry of Commerce and Industry has approved the continuation of the Scheme
for Investment Promotion (SIP) for five years from 2021-22 till 2025-26 with a financial outlay of _________.

a) Rs 345 crore
b) Rs 614 crore
c) Rs 945 crore
d) Rs 970 crore
e) Rs 1 Lakh crore

Answer: Option D


▪ SIP is a Centrally Sponsored Scheme, launched on 11th November 2008, to promote
Foreign Direct Investment (FDI) into India.
▪ Implementing Agency – Department for Promotion of Industry and Internal Trade (DPIIT).
▪ The scheme comprises a number of components and activities that enhance
international cooperation for promoting investments through FDI and capacity building
in India.

Q. Earth Station of Doordarshan Kendra has been inaugurated in which of the
following city?

(a) Gorakhpur
(b) Varanasi
(c) Kanpur
(d) Lucknow
(e) Meerut

Answer: Option A


▪ Union Minister of Information and Broadcasting Anurag Singh Thakur and UP Chief
Minister Yogi Adityanath inaugurated Earth Station of Doordarshan Kendra in Gorakhpur.
▪ This will be the second earth station of Doordarshan in Uttar Pradesh and it is being built
at a cost of Rs. 7 crores.
▪ Three FM stations of All India Radio were also inaugurated virtually on the occasion.
➢ Earth Station will enable the programmes generated at the local level to be telecast live
through DTH across the world. The Earth Station at Doordarshan Kendra Gorakhpur will
be a boon to local Bhojpuri artists as they have been demanding it for a long time.

Q. International Bank for Reconstruction and Development (IBRD), the lending arm
of World Bank Group, has approved how much loan to improve efficiency, reliability of
electricity supply in West Bengal?

(a) $110 million
(b) $120 million
(c) $125 million
(d) $135 million
(e) $150 million

Answer: Option D

➢ The variable spread loan or floating interest loan will have a maturity of 17 years,
including a grace period of 7 years.

That is all from us in this blog on Current Affairs 7th Dec 2021.