Correct Answer :   Bihar

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Bihar has overtaken Tamil Nadu to become the state with the highest microlending borrowings in India as of March 2023, according to a report released on Wednesday, June 5, 2023.

The report, published by credit information company Crif High Mark, highlighted Bihar's impressive growth with a 13.5 percent increase in the gross lending portfolio during the March quarter compared to the previous quarter.

As of March 2023, Bihar's microfinance (MFI) borrowings amounted to Rs 48,900 crore, accounting for 14.5 percent of the overall portfolio. Meanwhile, Tamil Nadu's MFI borrowings stood at Rs 46,300 crore, representing 13.7 percent of the total outstanding. This significant shift in rankings reflects Bihar's rising prominence in the microfinance sector.

The overall MFI portfolio outstanding witnessed substantial growth, reaching Rs 3.37 lakh crore by the end of March, reflecting a 17.9 percent increase. The report also highlighted an improvement in asset quality. The proportion of MFI loans overdue for over 90 days decreased to 1.1 percent in March 2023, compared to 2 percent in December 2022..

Source : CNBC

Correct Answer :   7th July 2023

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K M Vasudevan Namboothiri, popularly known as Artist Namboothiri, whose iconic illustrations gave life to many mythical characters in Malayalam literature passed away at Kottakkal in Malappuram district in the wee hours of Friday (7th July 2023).

The 97-year-old artist who inspired a golden era of painting and sculpture in Kerala through his unique three-dimensional sketches was undergoing treatment for age-related ailments at a private hospital in Kottakkal where he breathed his last at 12.21 am on Friday (7th July 2023).

Born to Parameswaran Namboothiri and Sridevi Antharjanam of Karuvattu Illam in Ponnani on September 13, 1925, Artist Namboothiri, started drawing line sketches of characters he met around his village using charcoal pieces on the walls of his house at a very young age. Namboothiri had lessons in Sanskrit and traditional Ayurveda medicine during his childhood.

It was famous artist Varikkasseri Krishnan Namboothiri who took him to Madras College of Fine Arts where he was groomed by legends like KCS Panikker.

Namboothiri had the opportunity to bring to life the epic characters of legendary writers like M T Vasudevan Nair and V K Narayanankutty Nair (VKN).

MT Vasudevan Nair had once said that it was Namboothiri's Bheema that readers saw in Randamoozham as his line sketches were distinctive. VKN had called him the 'paramasivan of drawings'.

Born: 13 September 1925, Ponnani
Died: 7 July 2023, Kottakkal

Source : Newindianexpress

Correct Answer :   Peru

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The government of Peru, on Wednesday, 5 July 2023, declared a 60-day state of emergency in the southern department of Moquegua due to the eruption of the Ubinas volcano.

The decision came a day after two massive explosions from the volcano were recorded.

The Council of Ministers stated that the measure had been taken to protect the inhabitants living in nearby towns from “imminent danger” due to falling ash and harmful gasses released from volcanic activity. The council said that the step would guarantee the legal framework and budgets to carry out a series of urgent and vital actions to reduce the risk to human lives and other losses, as well as to support rehabilitation later on.

The Ubinas is located in the General Sánchez Cerro province of Moquegua. It is considered one of the most active volcanoes in Peru. It had been inactive for the past four years. It began to emit gasses on June 22, and the region experienced persistent seismic activity.

On Tuesday, July 4, between 3 and 4 in the afternoon, the first explosions were registered. The Geophysical Institute of Peru (IGP) reported that the explosions spewed plumes of ash and smoke into the atmosphere, reaching a height of 5,500 meters above the crater and dispersing ash in a radius greater than 10 kilometers. The ash reached the districts of Ubinas and Matalaque, covering the streets and the roofs of houses.

The explosions and the eruption of a large amount of ash led the authorities to raise the alert from yellow to orange. The authorities declared a series of preventive measures, advising the region’s population, approximately 2,000 people, to stay away from the volcano and to keep their doors and windows closed, and cover their water tanks to avoid contamination. The inhabitants were also directed to wear masks and glasses to minimize the effects on health. These measures were announced for the surrounding districts of Ubinas, Yunga, Lloque, Chojata, Matalaque and San Juan de Tarucani.

On Thursday, 7 July, another explosion was registered. The National Institute of Civil Defense of Peru (INDECI) warned that the ashes from the latest explosion may affect 13 surrounding districts..

Source : Peoplesdispatch

Correct Answer :   P Vasudevan

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The Reserve Bank of India (RBI) on Thursday (6th July 2023) said it has appointed P Vasudevan as Executive Director (ED) and he will look after three departments, including that of currency management.

The appointment is with effect from 3 July 2023, RBI said in a statement.

Prior to being promoted as ED, Vasudevan was the Chief General Manager-in-charge of the Department of Payment and Settlement Systems.

He has, over a span of nearly three decades in the Reserve Bank, served in supervision of banks and non-banking financial companies, payment and settlement systems and other areas, including a stint as Member of Faculty in Bankers' Training College.

He has worked in the central office as well as at Bengaluru, Mumbai and New Delhi regional offices of the Reserve Bank.

Vasudevan holds a Master's degree in finance and Certifications in Information Systems Audit (CISA), Information Security Management (CISM) and Fintech (National University of Singapore).

He is a Certified Associate of the Indian Institute of Bankers (CAIIB) and an alumnus of the Wharton School..

Source : Hindustan Times

Correct Answer :   Yogi Adityanath

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The country’s first Vedic theme park has opened up in Noida, Uttar Pradesh Sector 78. Built with Rs 27 crore, the park has more than 50,000 plants that are mentioned in the Vedas such as banyan, kalpavriksha, and coconut, Times of India reported.

It will also highlight excerpts from the four Vedic literature pieces -- Rig Veda, Atharva Veda, Yajur Veda, and Sama Veda -- via laser shows, wall paintings, and sculptures.

The park, named Vedvan, was inaugurated by Chief Minister Yogi Adityanath.

The construction of the park had begun in January 2021. The land on which it has been built used to be a dump yard, Vandana Srivastava from Noida Authority told the publication. The soil in the area had to be compacted and trees were then planted.

India's first vedic theme park, Ved Van Park inaugurated in Noida.#EIIRInteresting
Video Credit; Unknown, ViaWeb pic.twitter.com/xk0CzyjK4i

— Pareekh Jain (@pareekhjain) July 3, 2023

Correct Answer :   State Bank of India

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The Ministry of Defence has launched the NCC Integrated Software, which is interactive software that follows an ‘Entry to Exit Model’ and serves as a single window platform for NCC Cadets.

* This was developed in collaboration with the Bhaskaracharya Institute for Space Applications and Geo Informatics (BISAG) and step towards digitisation and the Digital India mission.

* The NCC Integrated Software will digitise the entire process from cadet enrollment in the NCC to their exit registration as alumni. This software also streamlines the issuance of certificates and creates a nationwide database of NCC cadets for future employment purposes.

* During the launch event, the NCC and State Bank of India (SBI) signed a memorandum of understanding (MoU) in the presence of Defence Minister Rajnath Singh. This MoU facilitates the opening of zero balance accounts with debit card, chequebook, and passbook facilities for all NCC cadets under SBI's ‘Pahli Udaan’ scheme.

* Approximately 500,000 cadets will benefit from this collaboration annually.

* The accounts will remain active until the completion of training or when the cadets reach 18 years of age, whichever is later. This initiative not only introduces cadets to the national banking system but also provides them with a platform to access government schemes through direct benefit transfer (DBT) of funds into their accounts..

Source : Business Standard

Correct Answer :   Krishan Mishra

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The Financial Planning Standards Board (FPSB) of India has appointed Krishan Mishra as Chief Executive Officer (CEO), effective 1 August 2023.

FPSB India is the Indian subsidiary of FPSB, the global standards-setting body for the financial planning profession and owner of the international Certified Financial Planner (CFP) certification program.

In his new role, Mishra will lead the strategy and operations of FPSB India and champion the advancement of the financial planning profession in India.

FPSB CEO Dante De Gori said, “Krishan’s experience in the financial services and education sectors, combined with his strategic expertise, will support the growth of the Indian CFP professional community and propel the financial planning profession in India forward."

With over 20 years of experience, Mishra has held a variety of leadership positions including Country Head-International Business (India and South Asia) of Becker Professional Education, Head of North and East India of Association of Chartered Certified Accountants, and Regional Head (East) and Business Head-Channel Business at HCL Infosystems..

Source : Business Standard

Correct Answer :   Justice AP Sahi

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Former Chief Justice of the Madras and Patna High Courts, Justice AP Sahi, has been appointed the new chairperson of the National Consumer Disputes Redressal Commission (NCDRC).

Justice Sahi will be serving a four-year term as the chief of the NCDRC, according to a gazzetted notification published on Wednesday (5th July 2023).

The NCDRC is a quasi-judicial commission set up in 1988 under the Consumer Protection Act. It is situated in New Delhi..

Justice AP Sahi appointed Chairperson of NCDRC https://t.co/XUq8sLH1Qa

— Bar & Bench (@barandbench) July 6, 2023

Correct Answer :   Chhattisgarh

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Prime Minister Narendra Modi will visit Raipur on Friday (7th July 2023) where he will lay the foundation stone for three national highway projects for the Chhattisgarh section of the six-lane greenfield Raipur-Visakhapatnam corridor.

A key component of these highways will be a 2.8-kilometre tunnel with 27 animal passes and 17 monkey canopies to ensure unrestricted wildlife movement in the Udanti Wildlife Sanctuary area.

"It has been the vision of Prime Minister Modi to minimise the impact of highway development on wildlife," said an official.

Putting in such infrastructure for the safe passage of wild animals has been integrated into many highway development projects across India..

Source : IndiaToday

Correct Answer :   Flipkart

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Flipkart is now offering loans for up to Rs 5 lakh through its partnership with Axis Bank. The lending service is accessible through Flipkart's app and boasts a 30-second approval time while removing the need for document submission.



The move also comes after Amazon, one of Flipkart’s largest competitors, signaled a slowdown in India, according to a report by TechCrunch.

By introducing personal loans, Flipkart is expanding its range of financial services, which already includes a 'buy now, pay later' option, EMI payments, and a co-branded credit card.

"Expanding on the financing options available to customers alleviates the immediate burden of large purchases, encouraging higher transaction volumes and fostering customer loyalty & trust. These services empower consumers to make big-ticket purchases and manage payments over time, ultimately driving substantial revenue growth", the company said.

The Walmart-owned Bengaluru-based company had separated from PhonePe, which it had acquired in 2016, and subsequently moved its entire financial operations from Singapore to India. Since then it appears Flipkart is growing its own financial services.

-- TechCrunch