Current Affairs Quiz - July 2022

Notes:
DBS Bank was named as the ‘World’s Best SME Bank’ by Euromoney for second time. The bank also clinched three more awards.
They include World’s Best ‘Financial Innovation of the year’, ‘Asia’s Best Bank for Wealth Management’ and ‘Best Bank in Hong Kong’.

Notes:
Two-time Olympian and India’s ace Skeet shooter Mairaj Ahmad Khan won the country’s first ever individual gold in the ISSF World Cup at Changwon, Korea.
India stays on top of the medal standings with five gold, five silver and three bronze medals with two more days of competitions left. India also won a bronze with the 50m Rifle women’s team of Anjum Moudgil, Sift Kaur Samra and Ashi Chouksey.

Notes:
Veteran playback singer Bhupinder Singh, who is famous for his Bollywood songs, passed away recently at the age of 82 in Mumbai.
He is a renowned ghazal singer with a five-decade-long career. He began his career working in the All India Radio, Delhi, as a singer and musician.

Notes:
The Karakoram is a mountain range in Kashmir spanning the borders of Pakistan, China, and India. The glaciers in the central Karakoram have remained the same or even slightly risen during the past few decades, in contrary with the global trend of glaciers losing mass.
Researchers have made progress in finding why a few areas of glaciers in the Karakoram Range are and resisting glacial melt caused by climate change. They have linked the resurgence of western disturbances (WDs) to the phenomenon known as the Karakoram Anomaly.

Notes:
The US House of Representatives passed a bill to protect marriage equality. It is also feared that the Supreme Court could roll back the recognition of same-sex marriage.
The legislation ‘Respect for Marriage Act’ was passed as 47 Republicans joined all Democrats in supporting the measure. The bill will now go to the Senate for a vote.

Notes:
The Central Board of Indirect Taxes and Customs (CBIC) has clarified that large packages of food items like pulses, cereals, rice, and wheat weighing more than 25 kilograms or 25 litres of commodity will not attract the 5% goods and services tax (GST).
For levying 5% GST on items like pulses, cereals, rice and flour, they have to be pre-packaged without the presence of the buyer, and are required to bear the declarations under the provisions of the Legal Metrology Act of 2009.

Notes:
India’s largest public sector lender, State Bank of India (SBI), announced the launch of its WhatsApp Banking services
Customers of SBI may use WhatsApp to access banking services from the lender. Users can check your account balance and get Mini Statement. Through the platform, the State Bank of India also offers WhatsApp-based services to customers with credit cards.

Notes:
As per a recent survey of the Reserve Bank of India, the US surpassed the UAE as the top source country of India’s remittances, accounting for 23% of total remittances.
India is by far the world’s largest recipient of remittances, as it received $87 billion in 2021 with a growth of 4.6%. The share of remittances from the Gulf Cooperation Council region in India’s inward remittances is estimated to have declined.

Notes:
NITI Aayog has released a report titled ‘A proposal for Digital Banks in India: Licensing and Regulatory Regime’.
The report recommends a calibrated approach, comprising ‘Issue of a restricted digital bank licence’, ‘Enlistment in a regulatory sandbox framework enacted by the Reserve Bank of India’ and ‘Issue of a full-scale digital bank licence’.

Notes:
The Olympic Council of Asia (OCA) has confirmed that the postponed Asian Games will be held in Hangzhou, China from September 23 to October 8 in 2023.
The Asian Games were scheduled to be held in September 2022 but the OCA announced the postponement until 2023 due to rise in Covid-19 cases in China earlier this year.