Current Affairs Quiz - July 2022

Notes:
The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi approved computerisation of Primary Agricultural Credit Societies (PACS) with a budgetary outlay of ₹2,516 crore.
The objective is to increase efficiency of PACS, bring transparency and accountability in their operations This project proposes computerization of about 63,000 functional PACS over a period of 5 years with Government of India share of ₹1,528 crore. State Cooperative Banks and District Central Cooperative Banks were already automated by NABARD and brought on Common Banking Software.

Notes:
Food Safety and Standards Authority of India (FSSAI) has unveiled regulations by defining what constitutes vegan foods.
‘Food Safety and Standards (Vegan Foods) Regulations, 2022’ listed out various specifications to be followed for manufacture, sale and import of such food items. The new regulations were released after considering objections and suggestions from the public

Notes:
Shiv Sena rebel leader Eknath Shinde sworn in as Maharashtra CM while BJP leader Devendra Fadnavis sworn in as the Deputy Chief Minister.
Maharashtra Governor Bhagat Singh Koshyari administered the oath of office and secrecy to the leaders. This was preceded by the resignation of the former CM Uddhav Thakarey amidst an internal party rebellion.

Notes:
The National Anti-profiteering Authority (NAA) is the statutory mechanism under GST law to check unfair profiteering activities by the registered suppliers.
The GST watchdog has held cosmetics and personal care company L’oreal guilty of not passing on the rate reduction benefits to consumers to the tune of ₹186 crore.  NAA has directed L’oreal to deposit the sum along with 18% interest in the consumer welfare fund.

Notes:
The Reserve Bank of India (RBI) released the report titled ‘Benchmarking India’s Payment Systems’. It provides a position of the payments ecosystem in India relative to other major countries.
As per the report, India has made significant progress and moved to a leadership position in large-value digital payment systems. But India is still weak in certain parameters relating to ATMs and card payments.

Notes:
International Day of Cooperatives is celebrated on the first Saturday of July every year. The day was designated by the United Nations.
International Day of Cooperatives was observed around the world on July 2 this year. This year will mark the 100th International Day of Cooperatives, also known as Coops Day. This year’s theme for International Day of Cooperatives is – “Cooperatives Build a Better World.”

Notes:
Ministry of Skill Development and Entrepreneurship (MSDE) announced that the National Apprenticeship Promotion Scheme (NAPS) will be included in the Direct Beneficiary Transfer (DBT) scheme.
The new facility will provide direct government benefits to all apprentices. Earlier, companies would pay apprentices the full amount and then seek reimbursement from the government. In 2016, the National Apprenticeship Promotion Scheme (NAPS) was launched to promote apprenticeship training in the country and to provide financial support to establishments pursuing apprenticeships.

Notes:
The UN Ocean Conference 2022 concluded with the unanimous adoption of the Lisbon Declaration “Our Ocean, our future, our responsibility.”
More than 150 countries agreed to scale up science-based and innovative actions to address the ocean emergency. The Lisbon Declaration takes into account the capacity challenges being faced by the developing countries, mainly the Small Island Developing States and Least Developing Countries.

Notes:
Domestic rating agency Crisil lowered its real GDP growth forecast for India to 7.3 per cent in FY23 from 7.8 per cent estimated earlier.
It cited the reasons for downward revision to be higher oil prices, slowing of export demand and high inflation. This forecast is in line with the RBI’s estimate of 7.2 real GDP growth for this fiscal year.

Notes:
As per the five-year agreement by New Zealand Cricket and the players’ association, male and female cricketers in New Zealand will earn equal pay.
According to the agreement, women players will be paid the same match fees as men in all forms and events at both the domestic and international levels.