Daily Current Affairs 27th May, 2022

Daily Current Affairs 27 May 2022 for Banking/Insurance/SSC and other related exams.


India’s first Olympic Values Education Programme launched in Odisha
Odisha Chief Minister Naveen Patnaik launched India’s first Olympic Values Education Programme (OVEP) in the state. It will be implemented in 90 schools across two smart cities Bhubaneswar and Rourkela in the first phase. OVEP launched in 27 schools in Rourkela and 63 schools in Bhubaneswar.

  • The first Olympic Values Education Programme (OVEP) in India has been launched by the International Olympic Committee (IOC). The OVEP has been developed in partnership with the Government of Odisha’s Department of School and Mass Education and the Abhinav Bindra Foundation Trust (ABFT).

Kolkata becomes first metro city to get its biodiversity register
Kolkata became the first metro city in the country to prepare a detailed register of biodiversity. Kolkata Municipal Corporation released the People’s Biodiversity Register (PBR), a document with details about the floral and faunal varieties in the city as well as its land use and human activities.

TN launches integrated agri-development scheme
Tamil Nadu Chief Minister MK Stalin launched the ‘Kalaignarin All Villages Integrated Agricultural Development Programme’ that proposes overall agriculture development in all the 15,525 village panchayats through a convergence of Union and State government schemes and externally-aided projects in five years.

  • Under the initiative, borewells will be erected in fallow land clusters; farm ponds established; channels, tanks, and ooranies desilted; 11.916 lakh coconut seedlings distributed; pulse seeds distributed for bund cropping; 19,970 sprayers, 2.5 lakh home garden kits, incentive of Rs 5,000 for vegetable cultivation distributed; fruit seedlings and tree saplings provided; micro-irrigation facilities installed for farmers from Adi Dravida community and inlet channels and ponds, etc will be desilted.

SC appoints 3-member committee to manage affairs of All India Football Federation
The Supreme Court appointed a three-member committee of administrators to discharge day-to-day affairs of the All India Football Federation (AIFF).

  • A bench led by Justice DY Chandrachud appointed the committee of administrators for the All India football federation, which will be headed by a former judge of the Supreme Court.

India drops to 54th place in WEF’s Travel & Tourism Development Index
After two years of slowdown caused by the Covid-19 pandemic, India’s travel and tourism sector has shown “signs of recovery” and is the top performer in South Asia, according to the World Economic Forum’s (WEF) latest study titled ‘Travel & Tourism Development Index 2021: Rebuilding for a Sustainable and Resilient Future’.

  • India grabbed the 54th spot in the overall rankings, down from 46th in 2019. The travel and tourism development index assessed a total of 117 countries for the study.
  • In this year’s index — which consists of five subindexes, 17 pillars and 112 individual indicators — Japan took the number one spot, followed by the US, Spain, France and Germany among the top five.


RBI issues guidelines on gold import by qualified jewellers
To enable qualified jewellers for importing gold through India International Bullion Exchange IFSC Ltd. (IIBX) or any other exchange, the Reserve Bank of India (RBI) issued fresh guidelines.

  • The other exchanges should be approved by IFSCA and the DGFT, the Government of India.
  • Under the fresh guidelines, RBI stated that authorised dealers banks may allow Qualified Jewellers to remit advance payments for eleven days for import of Gold through IIBX in compliance to the extant Foreign Trade Policy and regulations issued under IFSC Act.
  • Also, authorised dealers bank shall carry out all the due diligence and ensure the remittances sent are only for the bona fide import transactions through exchange/s authorised by IFSCA.

India Post Payments Bank introduces issuer charges for Aadhaar Enabled Payments
The India Post Payments Bank (IPPB) has announced that it has introduced issuer charges for the Aadhaar Enabled Payment System(AePS). These charges will come into effect from June 15, 2022. The India Post Payments Bank is a division of Indian Post, which is administered by the Department of Post.

  • The first three AEPS transactions, such as AEPS cash withdrawal, AEPS cash deposit, and AEPS mini statement, will be free per month. Following the free transactions, each transaction (cash withdrawal or cash deposit) will cost Rs 20 plus GST, while a ministatement transaction would cost Rs 5 plus GST per transaction.

HDFC Money, a robo-advisory platform for all MF investments launched
HDFC Securities has launched HDFC Money, a robo-advisory platform for all mutual fund investments. HDFC Money is a 100 per cent digital platform that doesn’t involve opening or having a Demat Account.

  • Apart from Mutual Funds, one can also manage other aspects of finances such as accessing, managing, and tracking portfolios, starting goal planning, insurance planning, creating E-wills, and managing/filing taxes.
  • HDFC Money, with its exclusivity in mutual funds investment, offers a range of options for investors depending on their preference and risk appetite.

Mahagram ties up with IndusInd Bank to enhance digital payments ecosystem
Mahagram which enables neighbourhood shops to access banking services has tied up with IndusInd Bank to enhance digital payments ecosystem in the country.

  • The partnership will help boost financial inclusion, encourage socio-economic development, mitigate risks of a shadow economy and accelerate growth of cashless society.


Moody’s cuts CY22 India GDP growth forecast to 8.8% amid rising inflation
Moody’s Investors Service lowered its gross domestic product (GDP) growth forecast for India to 8.8 per cent for calendar year 2022 (CY22) from its March estimate of 9.1 per cent, holding that rising inflation and interest rates will temper the economic growth momentum.


India beats Indonesia in Asia Cup 2022 hockey tournament
Indian men’s team slammed six goals in the final quarter to record a 16-0 win over Indonesia in a thrilling Pool A game of the Asia Cup 2022 to qualify for the Super 4 stage of the Asia Cup.

  • India joined Japan, Malaysia, and South Korea in the Super 4 round of the Asia Cup. India needed to win the contest by at least a 15-0 margin to qualify and the young side thrived under pressure.


Health Secretary appointed as chairperson of Committee B at 75th World Health Assembly
Union Health Secretary Rajesh Bhushan has been appointed as the chairperson of the Committee B at the 75th World Health Assembly (WHA).

  • The Committee B primarily discusses administrative and financial matters of the World Health Organization (WHO).
  • Each year, the World Health Assembly has a long and complex list of health challenges and responses to review and the Assembly functions through two committees — A and B.

Indian officer Anwar Hussain Shaik is new chair of a WTO
After a gap of ten years, an Indian government officer — Anwar Hussain Shaik — has been made the chair of the WTO’s Committee on Technical Barriers on Trade.

  • He will take this role from Elisa Maria Olmeda de Alejandro from Mexico.


Dr Gopalakrishnan Receives VASVIK Industrial Research Award
Dr A Gopalakrishnan, Director of the ICAR-Central Marine Fisheries Research Institute (CMFRI) has won the prestigious VASVIK (Vividhlaxi Audyogik Samshodhan Vikas Kendra) Industrial Research Award for the year 2020 in the category of Agricultural Sciences and Technology.

  • The award, which carries a cash prize of Rs. 1.51 lakh and citation, is in recognition of his significant contribution towards the research works related to fish genetics which is relevant for conserving many commercially important and endangered species.
  • The VASVIK research award is presented to scientists and researchers who have excelled in various fields including agricultural sciences.

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