Current Affairs Quiz - July 2022

Notes:
The Group of 7 (G7) leaders from Canada, France, Germany, Italy, Japan, the UK, and the US have concluded a two-day summit.
They also announced goals of an open and cooperative international Climate Club towards establishing it by the end of 2022. The G7 leaders also condemned “Russia’s illegal and unjustifiable war of aggression against Ukraine”.

Notes:
GST Day is celebrated on July 1 to mark completion of five years of Goods & Services Tax. It was introduced in 2017, with the idea of “One Nation- One Market- One Tax”.
GST is a multi-stage, indirect consumption-based tax system that subsumed a set of domestic indirect taxes such as service tax, value-added tax, purchase tax, excise duty among others.

Notes:
The Union Cabinet approved the categorization of Coalition for Disaster Resilient Infrastructure (CDRI) as an ‘International Organization’.
The cabinet also approved signing of the Headquarters Agreement (HQA) with CDRI, for grant of exemptions and privileges under Section-3 of the United Nations (Privileges & Immunities) Act, 1947.

 

Notes:
Reserve Bank of India (RBI) recently released its financial stability report for June 2022. It is a half-yearly publication.
As per the recent report, Gross non-performing asset (NPA) ratio of banks fell to six-year low of 5.9% in March 2022 while the net non-performing assets (NNPA) ratio fell to 1.7% in March 2022. Capital to Risk Weighted Assets Ratio (CRAR) and Common Equity Tier 1 (CET-1) Ratio of SCBs were 16.7% and 13.6%, respectively, in March 2022.

Notes:
The Mercer’s 2022 cost of living city ranking was recently released with the list of the most expensive cities for international employees.
Mumbai is the most expensive city in India for foreign employees, at rank 127 globally. It is followed by New Delhi at rank 155. Pune and Kolkata are the least expensive Indian cities in the ranking at 201 and 203 respectively.

Notes:
Prime Minister Narendra Modi launched the Pradhan Mantri Formalisation of Micro food Processing Enterprises (PMFME) Scheme in 2020.
The scheme was launched under the ‘Aatmanirbhar Bharat Abhiyan’ and ‘Vocal for Local’ campaigns, to provide technical, financial and business support to micro food processing units in the country. The government intends to provide direct financial and technical assistance to about 200,000 micro food processing units under this scheme.

Notes:
The Union Environment Ministry directed to constitute a ‘Project screening committee’ in each state/UT with five members.
According to the Forest (Conservation) Rules, 2022, will meet at least twice every month and will advise the state governments on projects in a time bound manner, the rules state. The Committee is to be formed for an initial review of proposals involving diversion of forest land.

Notes:
Every year, National Doctor’s Day is observed on July 1 in the memory of Dr Bidhan Roy, the former Chief Minister of Bengal, since 1991.
The theme this year is ‘Family doctors on the front line.’ The day honours the contributions made by the doctors and healthcare professionals, along with the sacrifices they have made to save millions of lives.

Notes:
Uganda has recently announced the discovery of 31 million metric tonnes of gold deposits in the country.
To boost the country’s economy, the Ugandan Government has licensed Wagagai Gold Mining Company, a Chinese firm to start producing gold products.

Notes:
After a chunk of Italy’s Marmolada glacier broke off recently, at least seven people are dead and more are still missing.
As per the experts, this is the direct result of human-caused climate change. The disaster took place just one day after officials recorded a record-high temperature of 10 degrees Celsius at the summit of the glacier in the Dolomite Mountains.