Current Affairs Quiz - June 2022

Notes:
The Shriram Group has secured RBI approval for the merger of Shriram City Union Finance and Shriram Capital Ltd with Shriram Transport Finance Company.
This consolidation is set to create the largest retail finance NBFC in the country. The merger would help the group bring together all its lending products. The Group announced that it would focus on digital lending, with distribution on a newly built super application.

Notes:
Researchers at the Indian Institute of Technology (IIT), Madras have developed a robot to clean septic tanks without human intervention.
Named HomoSEP, the product development was further supported by GAIL (India). Initially, ten units are planned to be deployed across Tamil Nadu. The robots have been developed to eliminate manual scavenging.

Notes:
India launched one of its longest running coastal clean-up campaigns recently, in which 75 beaches of the country to be cleaned up to commemorate ‘Azadi Ka Amrit Mahotsav’.
The coastal clean-up drive will be carried out in the country for 75 days from 3rd of July to 17th of September 2022, which is also the International Coastal Clean-up Day. The drive is aims to remove one thousand 500 tonnes of garbage from the sea coasts.

Notes:
According to the quarterly report published by Microfinance Institutions Network (MFIN), Tamil Nadu has displaced West Bengal to emerge as the largest State in terms of the outstanding portfolio of microfinance loans.
The gross loan portfolio (GLP) of Tamil Nadu as of March 31, 2022 stood at ₹36,806 crore while the overall microfinance industry has a total GLP of ₹2,85,441 crore as of March 31, 2022. Banks held the largest share of the portfolio in micro-credit followed by NBFC-MFIs.

Notes:
Goods and Services Tax (GST) was introduced on July 1, 2017, to revamp the country’s entire indirect tax structure and modify tax administration and compliance.
The system has completed five years of implementation. There has been a significant increase in the tax base in India at about 1.36 crore active GST registrations as on 31 March 2022.The revenues of May 2022 touched the INR 1.41 lakh crore mark and GST collections crossed Rs 1 lakh crore for 11 months in a row.

Notes:
According to a World Gold Council (WGC) report titled ‘Gold refining and recycling’, India has emerged as the fourth largest recycler in the world.
India has recycled 75 tonnes in 2021 while China topped the chart as it recycled 168 tonnes followed by Italy in the second position with 80 tonnes and the US at the third rank with 78 tonnes in 2021. India’s gold refining capacity increased by 1,500 tonnes (500 per cent) in 2021 from 300 tonnes in 2013.

Notes:
Sri Lankan cabinet passed the 21st Amendment to the Constitution to empower Parliament over the executive president.
The 21st Amendment is expected to dissolve the section, which gives unfettered powers to President Gotabaya Rajapaksa after abolishing the 19th Amendment that will strengthen Parliament. It also includes reforms including barring dual citizens from contesting elections to hold public office.

Notes:
The first case of monkeypox was recorded in the Democratic Republic of the Congo (DRC) in the year 1970. It is a rare zoonotic disease caused by the monkeypox virus, which belongs to the Poxviridae family. Its symptoms are similar to smallpox but milder.

Notes:
The UNSC 1267 committee was set up in the year 1999. It was strengthened in 2001 following the 9/11 attack. Its members include both the permanent and non-permanent members of the UNSC. It is also known as Da’esh and Al Qaeda Sanctions Committee.

Notes:
According to the latest data of the Union Ministry of Commerce and Industry, the United States is India’s largest trading partner. The bilateral trade is worth 119.42 billion USD. India’s second largest trading partner is China.