Current Affairs Quiz - March 2022

Notes:
The Centre has set a target of about Rs 1 trillion for National Bank for Financial Infrastructure and Development (NaBFID).
The limit has been set for sanctioning loans to the infrastructure sector in the next financial year. This government-backed Development Finance Institution (DFI) will start operations in the first quarter of the next financial year.

Notes:
The President of India Ram Nath Kovind presented the prestigious President’s Colour to INS Valsura. The advanced Torpedo Training Facility was created in 1942 for the Royal Indian Navy during World War-II.
After India became a Republic, it was renamed as INS Valsura on 01 Jul 1950. The President’s Colour is presented upon a military unit in recognition of exceptional service rendered to the Nation, both in peace and in war.

Notes:
North Atlantic Treaty Organization (NATO) extended the term of Secretary-General Jens Stoltenberg by a year until September 30, 2023.
At the NATO summit in Brussels, the US President Joe Biden and other NATO leaders agreed to extend Stoltenberg’s term. He was a former Norwegian prime minister and was named NATO Secretary-General in 2014. His term was due to expire in September 2021.

Notes:
Small industries development bank of India (SIDBI), has entered into a memorandum of understanding (MoU) with Meghalaya infrastructure development and finance corporation.
It is a government body to develop the micro, small and medium enterprises (MSME) ecosystem in the state. Under the MoU, SIDBI and Meghalaya government will work to ensure the development of the MSME ecosystem in the state.

Notes:
Reserve Bank of India released the framework for geo-tagging of payment system touch points. Geo-tagging refers to capturing the geographical coordinates (latitude and longitude).
The framework aims to ensure proper monitoring of the availability of payment acceptance infrastructure including Point of Sale terminals, and Quick Response codes.

Notes:
Union Minister Anurag Thakur launched TEJAS (Training for Emirates Jobs And Skills) in Dubai, UAE. It is a Skill India International Project to train overseas Indians.
The programme aims to skilling, certification and overseas employment of Indians. During the initial phase, it aims at creating a 10,000 strong Indian workforce in UAE. He also invited UAE for collaboration in Animation, Visual Effects, Gaming and Comics (AVGC) Sector.

Notes:
In a recent study, researchers from the Centre for Development Studies (CDS) and the Indian Institute of Space Science and Technology (IIST) measured the size of India’s space economy at Rs 36,794 crore (approximately USD 5 billion) for the 2020-21 fiscal.
The estimated size of India’s space economy, as a percentage of the GDP, fell from 0.26% in 2011-12 to 0.19% in 2020-21.

Notes:
The Schengen Area is an area comprising 26 European countries that have officially abolished passport and other border control at their mutual borders.
The area has a common visa policy and is named after the 1985 Schengen Agreement signed in Schengen, Luxembourg. Recently, many countries have lifted Covid-19 entry rules for the EU/Schengen Area Travellers.

Notes:
Governor of Reserve Bank of India (RBI) Shaktikanta Das dedicated Varnika, the Ink Manufacturing Unit of Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) to the nation in Mysuru.
It is a wholly owned subsidiary of the Reserve Bank of India (RBI). BRBNMPL has set up Varnika with an annual ink manufacturing capacity of 1,500 MT to enhance the security of banknotes. It aims to achieve cost efficiency and reduced import dependency.

Notes:
US President Joe Biden proposed USD 1.8 billion to support free and open, and secure Indo-Pacific Region and the Indo-Pacific Strategy.
He also proposed USD 400 million for the Chinese Malign Influence Fund. The funds were announced as part of USD 773 billion annual Defence Budget, which prioritizes China as the Department’s pacing challenge.