This is the current affairs of 2nd to 4th July 2023. Here are 11 questions and answers of daily current affairs for better preparation of competitive exams for government jobs.
1. HDFC Bank and which non-banking financial company (NBFC) have merged on July 1, 2023?
b. Bajaj Finser Ltd.
c. Muthoot Finance
Answer: a. HDFC (Housing Development Finance Corporation)3
– Housing Development Finance Corporation (HDFC) merged with HDFC Bank on 1st July 2023.
– With this, the existence of India’s first home finance company, HDFC, came to an end.
– This merger is the largest in the corporate history of India, valued at approximately 40 billion dollars.
– The announcement of the merger was made on 4th April 2022, a year ago.
What is the difference between HDFC and HDFC Bank?
– HDFC is a housing finance company.
– It provides loans for buying houses, shops, and properties.
– Whereas HDFC Bank handles all banking-related tasks.
– It includes all types of loans, account opening, transactions related to fixed deposits, and more.
2. After the merger of HDFC, HDFC Bank has become which bank in the world in terms of market value (market cap)?
a. Largest Bank
b. Second Largest Bank
c. Third Largest Bank
d. Fourth Largest Bank
Answer: d. Fourth Largest Bank
Q. Which Indian bank made it to the top 10 banks in the world by market value?
b. HDFC Bank
Answer: b. HDFC Bank
– HDFC Bank has entered the list of the top 10 banks in the world.
– In terms of market capitalization, it has become the fourth largest bank in the world.
– After this merger on 1st July 2023, HDFC Bank tweeted stating that with the merger of India’s number one private sector bank and India’s number one home loan company, we have become part of the world’s leading financial institutions.
As of June 2022, the top 5 valuable banks in the world in terms of market capitalization, in crores of rupees and billion dollars:
1. J.P. Morgan Chase & Co. – 34.17, 416.5
2. Industrial and Commercial Bank of China – 18.73, 228.3
3. Bank of America – 18.68, 227.7
4. HDFC Bank – 14.09, 171.8
5. Agricultural Bank of China – 13.85, 168.9
Note: This data is as per Bloomberg (as of June 2022) and includes the combined value of HDFC and HDFC Bank. These figures may change in the future.
India’s Top 5 Banks:
1. HDFC Bank
2. ICICI Bank
3. SBI Bank
4. Kotak Mahindra Bank
5. Axis Bank
Reason for the merger:
– Amid increasing competition from government banks and new-age fintech companies, the need for this merger was felt beforehand.
– The merger has resulted in the creation of a single unit with a significantly larger balance sheet, which will enhance market presence.
– HDFC Bank’s endeavor is to provide housing loans in as many branches as possible.
Impact on customers:
– HDFC Bank’s branches will offer all services of HDFC.
– Customers who have taken loans from HDFC have now become customers of HDFC Bank.
– All loan borrowers will continue to repay their EMIs based on the terms and conditions.
Impact on employees:
– The merger will not have a significant impact on the employees of both companies.
– Before the merger, the Chairman of the group had stated that there would be no layoffs in the company.
– HDFC Bank values its employees.
– Additionally, there will be no salary cuts for the employees.
3. Who became the new Chairman and Managing Director (CMD) of Coal India Limited?
a. Vishal Prasad
b. Rakesh Maria
c. PM Prasad
d. Vijay Kumar
Answer: c. PM Prasad
– The Central Government has appointed a new CMD (Chairman and Managing Director) for Coal India Limited (CIL).
– Prior to this, they were working as the Chairman-cum-Managing Director of Central Coalfields Limited (CCL), a subsidiary of Coal India.
Coal India Limited
– Established: 1975
– Under which Ministry: Ministry of Coal
4. Which former Indian soldier who fought in World War II was given the Point of Light Award by the British PM?
a. Captain Vikram Batra
b. Rakesh Singh Bhatt
c. Dhananjay Pandey
d. Rajendra Singh Dhatt
Answer: d. Rajendra Singh Dhatt
– Rajendra Singh Dhatt was awarded this honor by British Prime Minister Rishi Sunak during the ‘UK-India Week Celebrations of India Global Forum’ on June 28, 2023.
– He is one of the last surviving Sikh soldiers who fought in World War II.
– He is 101 years old. He received this award for his work in running the “Ex-Services League of Undivided India” to bring together veterans of the Second World War and the British Indian War.
– Dhatt founded the “Ex-Services League of Undivided India” in 1963 and has dedicated his life to serving his fellow veterans.
– This organization has played an important role in promoting unity, support, and camaraderie among the veterans of the British Indian War.
Rajendra Singh Dhatt
– He was born in India in the year 1921.
– In the year 1943, he was promoted to the rank of Havaldar Major (Sergeant Major).
– He fought alongside the armies of friendly nations during the British colonial era.
Point of Light
– Point of Light is an international non-profit organization established in 1990, headquartered in Georgia, United States.
– This award is given to those exceptional individuals whose lives can inspire others towards their communities and beyond social challenges.
5. Who became the first woman player from Assam to make it to the Indian women’s team?
a. Sneh Rana
b. Uma Chhetri
c. Richa Ghosh
d. Hemlata Kala
Answer: b. Uma Chhetri
– Uma Chhetri was selected in the Indian women’s cricket team in July 2023.
– She will play ODIs and T20s on the tour of Bangladesh.
– Uma Chhetri is a 21-year-old wicketkeeper.
– She is the first female cricketer from Assam to be selected for the Indian women’s team.
– Uma Chhetri was a part of the India-A team that won the Under-23 Emerging Asia Cup.
– In the final against Bangladesh, Uma scored 22 runs off 20 balls while opening the innings.
– Uma’s parents are migrant laborers.
– Uma hails from a small village called Bokakhat, located near Kaziranga National Park in Assam.
– The family’s financial situation is weak, and both of Uma’s parents work as laborers on other people’s farms.
– Uma’s two brothers work as security guards in Bangalore, while the other two live in Assam.
6. Who won the Austrian Grand Prix Formula One Championship title 2023?
a. Max Verstappen
b. Lewis Hamilton
c. Pierre Gasly
d. Fernando Alonso
Answer: a. Max Verstappen
– Max Verstappen won the qualifying session, sprint race, and the Grand Prix in the Austrian Grand Prix.
– For Ferrari, Charles Leclerc finished second, while Verstappen’s teammate Sergio Perez secured third place.
– Carlos Sainz, Lando Norris, Fernando Alonso, Lewis Hamilton, George Russell, Pierre Gasly, and Lance Stroll were among the top 10 finishers.
Race – Winner
– Canadian Grand Prix 2023: Max Verstappen
– Spanish Grand Prix 2023: Max Verstappen
– Monaco Grand Prix 2023: Max Verstappen
– Bahrain Grand Prix 2023: Max Verstappen
– Saudi Arabian Grand Prix 2023: Sergio Perez
– Azerbaijan Grand Prix 2023: Sergio Perez
– Canadian Grand Prix 2023: Max Verstappen
7. Who has taken oath as the new Deputy Chief Minister of Maharashtra?
a. Sharad Pawar
b. Ajit Pawar
c. Chhagan Bhujbal
d. Sanjay Raut
Answer: b. Ajit Pawar
– NCP (Nationalist Congress Party) leader Ajit Pawar took oath as the new Deputy Chief Minister of Maharashtra on July 2, 2023.
– A total of nine legislators, including Ajit Pawar, were sworn in as ministers.
– Now, Maharashtra has two Deputy Chief Ministers – Devendra Fadnavis and Ajit Pawar.
– This is the third opportunity in the past five years when Ajit Pawar has taken oath as the Deputy Chief Minister of Maharashtra, now becoming a part of Chief Minister Eknath Shinde’s government.
– Ajit Pawar had previously taken oath as the Deputy Chief Minister during the term of then Chief Minister Devendra Fadnavis in November 2019, although he could only hold the position for a few hours at that time.
– He had also held the position of Deputy Chief Minister in the previous Maharashtra Vikas Aghadi (MVA) government led by Uddhav Thackeray.
– The MVA government was in power in Maharashtra from November 2019 to June 2022.
– Prior to that, Ajit Pawar served as the Deputy Chief Minister during the 15-year tenure of the Congress-NCP coalition government under the leadership of Ashok Chavan and Prithviraj Chavan.
– CM (Chief Minister): Eknath Shinde
– Governor: Ramesh Bais
– Capital: Mumbai
8. When is International Co-operative Day celebrated?
a. 3 July
b. 2 July
c. 1 July
d. 31 June
Answer: c. 1 July
Theme for 2023 –
“Cooperatives for Sustainable Development.”
– International Cooperative Day brings together people, communities, and organizations worldwide to celebrate the impact of cooperative enterprises.
9. Who has resigned from the post of chairman of the ‘National Commission for Scheduled Tribes’ (NCST) in July 2023?
a. Ajay Kumar
b. Ravi Suman
c. Harsh Chauhan
d. Rakesh Kanaujiya
Answer: c. Harsh Chauhan
– Harsh Chauhan has resigned from the position of Chairman of the National Commission for Scheduled Tribes (NCST).
– He stepped down from his position eight months before the completion of his term.
– He assumed the office of Chairman of the National Commission for Scheduled Tribes in the year 2021.
– According to news reports, he had ongoing disagreements with the central government regarding forest laws.
– It is said that during his tenure, there were repeated clashes with the Ministry of Environment, Forest and Climate Change over the Forest Conservation Act of 2022. He had written to the government stating that he should be stopped as he would have an adverse impact on forest rights.
– The establishment of NCST was done in February 2004 under Article 338A of the Constitution.
– It is a constitutional body that works towards safeguarding the rights, interests, and welfare of Scheduled Tribes and promoting their development.
– The Chairman and Vice-Chairman of the panel are appointed by the President.
– The Chairman holds the rank equivalent to a Cabinet Minister, while the Vice-Chairman holds the rank equivalent to a Minister of State, and three members hold the rank equivalent to the position of Secretary in the Government of India.
10. Name the Ambassador and Permanent Representative of India to the World Trade Organization (WTO), whose term has been extended till March 2024?
a. Ruchira Kambhoj
b. Brajendra Navneet
c. Vishal Verma
d. Rakesh Maurya
Answer: b. Brajendra Navneet
– Brajendra Navnit assumed office as India’s Ambassador to the World Trade Organization (WTO) in June 2020.
– His term was scheduled to end on June 28, 2023, but the central government extended his tenure by nine months.
– Now, he will continue in this position until March 31, 2024.
Reason for the extension:
– In 2024, the WTO will host its significant 13th Ministerial Conference.
– India aims to promote its key priorities in this global trade forum. It is believed that the extension was given to maintain continuity in the position of the Ambassador.
World Trade Organization (WTO):
– Established in 1995
– Headquarters in Geneva, Switzerland
– Director-General: Ngozi Okonjo-Iweala
– 13th Ministerial Conference: Scheduled to be held in February 2024 in Abu Dhabi, UAE.
11. Who became the Director General of United Nations Food and Agriculture Organization (FAO) for the second time?
a. Qu Dongyu
b. Wong Yang
c. Vishal Singh
d. Rajesh Maurya
Answer: a. Qu Dongyu
– Qu Dongyu was re-elected as the Director-General of the Food and Agriculture Organization (FAO) during the 43rd session of the organization.
– The session took place at the FAO headquarters in Rome on July 1, 2023.
– Qu Dongyu first assumed office in 2019. His initial term was set to end in 2023, but he was re-elected for another term.
– He is a Chinese national.
– It is a specialized agency of the United Nations.
– Established on October 16, 1945.
– Headquarters located in Rome, Italy.
– Parent organization: United Nations Economic and Social Council (UN ECOSOC).