Daily Current Affairs Quiz : March 17, 2022

Notes:
The Reserve Bank of India has released the RBI (Regulatory Framework for Microfinance Loans) Directions, 2022, which will be effective from April 1, 2022.
Under the directions, RBI asked regulated entities (REs) lending to the microfinance segment to ensure that loans are collateral-free and not linked with a lien on the borrower’s deposit account. REs will also ensure repayment obligations are capped, interest rates are not usurious, and there is no pre-payment penalty.

Notes:
For the first time in the country, Telangana has begun recording crop diversification patterns in the form of an index.
According to the crop diversification index, the state grows 77 varieties, with about 10 crops, mostly grains, preferred for diversification. The index will serve as a base for future crop diversification in the state.

Notes:
‘Credit guarantee scheme for subordinate debt (CGSSD)’ is implemented by the Ministry of MSME. The Ministry has extended the CGSSD by one more year till March 31, 2023.
The Government created ‘Distressed Assets Fund- – Subordinate Debt for Stressed MSMEs’ in May 2020. CGSSD was launched to provide credit facility through lending institutions to the promoters of stressed MSMEs. The scheme is for SMA-2 and NPA accounts which are eligible for restructuring.

Notes:
Stockholm International Peace Research Institute (SIPRI) released the Trends in International Arms Transfers, 2021 Report.
As per the report, India remains the largest importer of arms globally. Most of India’s defence imports come from Russia. India has been pushing for indigenous development in defence equipment, and allotted 68 per cent of the capital budget for 2022-23 for domestic manufacturing industries.

Notes:
The U.N. General Assembly approved a resolution setting March 15 as the International Day to Combat Islamophobia.
The resolution was adopted by consensus by the UN and cosponsored by 55 mainly Muslim countries. It emphasizes the right to freedom of religion and belief and recalls a 1981 resolution calling for “the elimination of all forms of intolerance and of discrimination based on religion or belief.”