Daily Current Affairs 9th Dec 2021 – News, Videos & MCQs

Get All the Important Current Affairs of 9th 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 9th Dec 2021.

Daily Current Affairs 9th Dec 2021

Banking News

Reserve Bank of India (RBI) in September 2021 regarding tokenization of cards during
online transactions, NPCI announced the launch of NPCI Tokenization System (NTS).

▪ In this regard, PayPhi, Phi Commerce’s API (Application programming interface) first
digital payments platform, became the first certified tokenization service for NTS
supporting tokenization of RuPay cards.
▪ Tokenization of cards as an alternate to storing card details with merchants.
▪ NPCI’s NTS platform enables PayPhi Tokenization service to provide partner merchants
and aggregators with TROF.
▪ Token Reference On File (TROF) turns sensitive cardholder data into randomly
generated 16 digit numbers called “token” with no meaningful value if breached.

Shivalik Small Finance Bank (SSFB) signed a partnership agreement with fintech
firm, Indiagold to launch India’s first Loan against Digital Gold.

  • This agreement will enable customers to use their digital gold balance to avail instant and digital loans upto Rs. 60,000 and also seamlessly access gold loans starting at a monthly interest of just 1%.
  • Aim: To provide access to secure and affordable credit to the customers looking for quick liquidity against their gold assets.
  • Bharti AXA Life Insurance has entered into a bancassurance partnership with Shivalik Small Finance Bank for the distribution of its life insurance products through the bank’s pan-India network of branches.
  • Shivalik Mercantile Co-operative Bank (SMCB) is the first urban co-operative bank (UCB)
  • in India to receive licence from RBI to operate as a Small Finance Bank (SFB)


▪ Headquarters: Noida, Uttar Pradesh
▪ MD & CEO: Suveer Kumar Gupta

ICICI Bank partnered with Flipkart, an e-commerce platform, to offer an instant and
digital overdraft (OD) facility of up to 25 lakh to individual sellers and businesses
registered on Flipkart.

  • The OD Facility is enabled by Application Programming Interface (API) and the process from application to sanction to disbursement is completely digital.
  • Sellers having a current account with ICICI Bank can immediately avail OD and Customers of any bank can also avail of ODs from ICICI Bank if they are registered as sellers with Flipkart


▪ Founded: 1955 (Incorporated in 1994)
▪ Headquarters: Vadodara
▪ MD & CEO: Sandeep Bakhshi
▪ Chairperson: Girish Chandra Chaturvedi
▪ Tagline: Hum Hai Na, Khayal Apka

RBI in News

India’s Monetary Policy Committee(MPC) consists of Six Members

1. Governor of the Reserve Bank of India – Chairperson, ex officio: Shri Shaktikanta Das
2. Deputy Governor of the Reserve Bank of India, in charge of Monetary Policy– Member, ex
officio: Dr Michael Debabrata Patra
3. One officer of the Reserve Bank of India to be nominated by the Central Board –
Member, ex officio: Dr Mridul K. Saggar
4. A professor at the Mumbai-based Indira Gandhi Institute of Developmental
Research: Prof. Ashima Goyal
5. A professor of finance at the Indian Institute of Management in Ahmedabad: Prof.
Jayanth R Varma
6. An agricultural economist and a senior adviser with the National Council of Applied
Economic Research in New Delhi: Dr Shashanka Bhide

Reserve Bank of India made an announcement in its bi-monthly monetary policy review
on December 8, 2021 that it has raised the investment limit via UPI in IPOs and RBI Retail
Direct Scheme for G-Secs to Rs 5 lakh.

  • The limit for making investments in IPO and or buying government bonds via RBI Retail Direct Scheme is Rs 2 lakh currently.
  • RBI’s Retail Direct scheme alleviates investment by individuals into government securities by opening up gilt securities account with the central bank.

Monetary Policy Update: December 6-8, 2021.
▪ RBI keeps repo rate unchanged at 4 percent, the reverse repo rate also remains
unchanged at 3.35 percent.
▪ As a result, the remaining rates are also unchanged and are mentioned below:
▪ Reverse Repo Rate- 3.35%
▪ Marginal Standing Facility Rate- 4.25%
▪ Bank Rate- 4.25%
▪ CRR- 4.00%
▪ SLR- 18.00%

  • Change in Limit of MSF: MSF window has been rare due to surplus liquidity conditions, we propose to return to the normal dispensation under the MSF. Consequently, banks will be able to dip up to 2 per cent of net demand and time liabilities (NDTL) instead of 3 per cent for overnight borrowing under the MSF from January 1, 2022.
  • On-tap liquidity windows of ₹50,000 crore for ramping up COVID-related healthcare infrastructure and services and ₹15,000 crore for certain contact-intensive sectors will continue till their terminal date i.e., March 31, 2022.

GDP Projection
▪ Projection for real GDP growth for 2021-22 is maintained at 9.5 percent.
▪ The central bank has however revised its Q3FY22 GDP growth to 6.6 percent from earlier –
6.8 percent and cut Q4FY22 GDP to 6 percent from 6.1 percent.
▪ Q1FY23 GDP growth forecast has been retained at 17.2 percent
▪ Q2FY23 GDP growth seen at 7.8 percent
▪ Q1FY23 CPI forecast revised to 5 percent from 5.2 percent

Inflation
▪ FY22 CPI inflation target has been maintained at 5.3 percent
▪ Headline CPI inflation ticked up in October to 4.5 per cent from 4.3 per cent in September,
after falling sharply between June and September.
▪ October-December CPI inflation target has been revised to 5.1 percent from 4.5 percent
earlier; while January-March CPI inflation forecast has been revised to 5.7 percent
compared to 5.8 percent earlier.

Appointment

Board of Directors of Ujjivan Small Finance Bank (SFB) appointed Ittira Davis as
the Managing Director (MD) and Chief Executive Officer (CEO) for a period of 3 years.

Ittira Davis is succeeded by former MD and CEO Nitin Chugh. The bank has also
appointed Rajesh Kumar Jogi, Harish Devarajan, and Umesh Bellur as additional directors.


▪ About Ujjivan Small Finance Bank:
▪ Founded: 2017
▪ Headquarters: Bengaluru
▪ MD & CEO: Ittira Davis

Sanjiv Mehta, Chairman and Managing Director of Hindustan Unilever Limited (HUL) will
be appointed as Federation of Indian Chambers of Commerce and Industry (FICCI)
President.

  • He will be succeeding Uday Shankar, the current President of
  • Currently, Sanjiv Mehta is also the President of Unilever South Asia and is a member of the ‘Unilever Leadership Executive’ which is Unilever’s Global Executive Board.
  • Arun Chawla named as Director-General of FICCI
  • FICCI projects 9.1% GDP growth for FY22


▪ FICCI Founded: 1927;
▪ FICCI Headquarters: New Delhi;
▪ FICCI Secretary General: Dilip Chenoy.

Award

Sahitya Akademi and Padma Shri awardee Assamese poet Nilmani Phookan Jr won
the 56th Jnanpith Award

  • Sahitya Akademi Awardee Konkani novelist Damodar Mauzo won the 57th Jnanpith Award.
  • Jnanpith Award is a literary award presented by the Bharatiya Jnanpith organization to Indian writers every year.
  • This was instituted in 1961 and is given only to Indian writers who write in Indian languages and English.
  • The country’s highest literary award, the Jnanpith is bestowed on writers for “their outstanding contribution to literature”.

Obituary

Chief of Defence Staff (CDS) Bipin Rawat, his wife Madhulika Rawat, and 11 others died in an IAF Mi-17V5 helicopter crash on Wednesday, 8 December, the Indian Air Force has confirmed in a tweet.

An IAF Mi-17V5 helicopter, with General Bipin Rawat, his wife, the pilot Wing Commander Prithvi Singh Chauhan, and staff, as well as other senior officials on-board, crashed in Tamil Nadu’s Coonoor.

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Current Affairs 9th Dec 2021 – MCQs

Q. To make daily transactions of its customers more secure and easier, J&K
Bank launched its revised and refurbished which Mobile Banking App for the public.

a) E-Amrit: India for Electric Vehicles at COP26
b) mPay Delight : Indian Renewable Energy Development Agency Ltd
c) Whistle Blower
d) Ufill: BPCL
e) J&K World

Answer: Option B
▪ Notably, available on Google Play Store & Apple store, J&K Bank mPay Delight app has
been made more user friendly, vibrant and easier to use with biometric fingerprint
authentication for faster and more secure Logins.
▪ Headquarters: Srinagar, Jammu & Kashmir
▪ Baldev Prakash: Managing Director and CEO of J&K Bank
▪ Rajesh Kumar Chhibber is the present Chairman

Q. Which of the following has partnered with Amazon Web Services (AWS) to offer
Startup Toolkit for entrepreneurs?

(a) CCAvenue
(b) Paytm
(c) PhonePe
(d) PayU
(e) Razorpay

Answer: Option B
▪ Paytm will help entrepreneurs operating in India in the AWS Activate program grow their
businesses with payment, distribution, and growth solutions.
▪ The Paytm startup toolkit is a single-stop platform that offers solutions in the domain of
payments, payouts, banking and distribution with services including Paytm Payment
Gateway, which helps businesses accept digital payments on their website, app

Q. The government has expanded the Steering Committee for Advancing Local ValueAdd and Exports (SCALE committee) by adding three new members. Who is the head of the
SCALE committee?

(a) Nageswar Rao
(b) Pawan Kumar Goenka
(c) Ratan P Watal
(d) M Venugopal
(e) Vinod Kannan

Answer: Option B
▪ Current Members: 14 (Headed by former Mahindra CEO Pawan Goenka)
▪ 3 New Members:
▪ Manish Sharma, Panasonic India Chairman and CEO
▪ Vikram S Kirloskar, Toyota Kirloskar Vice-Chairman
▪ Jalaj Dani, Asian Paints co-promoter and Chairman Addverb Technologies

Q. Unix, an Indian Mobile Accessories manufacturing brand, has appointed whom as
its Brand Ambassador to increase visibility of their products.

(a) Rahul Dravid
(b) Jasprit Bumrah
(c) Smriti Mandhana
(d) Ravindra Jadeja
(e) Sanjay Dutt

Answer: Option B
▪ UNIX is a popular Indian brand that offers the latest and widest range of mobile
accessories for your smartphones. Indian Cricket Fast Bowler Jasprit Bumrah
➢ Bangalore based innovative, fast-growing fintech, Kinara Capital signed the Indian
cricketer Ravindra Jadeja, as its official brand ambassador

Q. Which edition of Exercise EKUVERIN-21 between India and Maldives will be
conducted at Kadhdhoo Island, Maldives.

(a) 6th
(b) 9th
(c) 11th
(d) 14th
(e) 19th

Answer: Option C
The exercise will enhance synergy and inter-operability between the Armed Forces of
both the nations conducting Counter-Terrorism and Counter-Insurgency Operations.
Note: Some Important Exercise:
▪ Red Flag-India and US
▪ Al Nagah-India and Oman
▪ Naseem-Al-Bahr-India and Oman
▪ Garuda Shakti-India and Indonesia
▪ Desert Warrior- India and Egypt

That is all from us in this blog on Current Affairs 9th Dec 2021.