Current Affairs 25 & 26 December 2022

We are here for you to provide the important Recent and Latest Current Affairs 25 & 26 December 2022, which have unique updates of Latest Current Affairs 2022 events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.

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NATIONAL AFFAIRS

Union Cabinet Approves Revision of Pension of Armed Forces Pensioners/Family Pensioners Under OROP 

The Union Cabinet, chaired by Prime Minister (PM) Narendra Modi, approved the revision of the pension of Armed Forces pensioners and family pensioners under the One Rank One Pension (OROP) scheme, effective July 1, 2019, at an annual additional expenditure of Rs. 8,450 crore and arrears of Rs. 23,638 crore.

• Pensions of former retirees would be revised based on the average of the minimum and maximum pensions of Defence Forces retirees of the same rank and service period in calendar year 2018.

The Cabinet Committee on Economic Affairs (CCEA), chaired by PM Narendra Modi, has approved Minimum Support Prices (MSPs) for copra for the 2023 season.

• The decision was based on recommendations from the Commission for Agricultural Costs and Prices (CACP) as well as the perspectives of key coconut-growing states.

About the National Agricultural Cooperative Marketing Federation of India Ltd. (NAFED):
Managing Director (MD) – Rajbir Singh Panwar
Established – 2nd October 1958
Headquarters – New Delhi, Delhi
>> Read Full News

Union Sports Minister Anurag Singh Thakur launches Khelo India Dashboard

On 23rd December 2022, Anurag Singh Thakur, Minister of Youth Affairs and Sports (MoYAS), launched the Khelo India Dashboard in New Delhi, Delhi, which has all the statistical data related to the Khelo India Scheme and the Khelo India events.

• Nisith Pramanik, Minister of State for Youth Affairs & Sports and senior officials of MoYAS and Sports Authority of India (SAI) were also present at the occasion.
• The unique platform also includes a database of Khelo India Centres (KICs), Khelo India Academies, SAI Training Centres, and National Centres of Excellence (NCOEs).
• It will assist athletes in locating the nearest facility where sports training in various disciplines is available.

INTERNATIONAL AFFAIRS

Forbes: PV Sindhu World’s 12th Highest Paid Female Athlete in 2022; only indian and badminton player on top 25

According to the Forbes’s World’s Highest-Paid Female Athletes 2022, Indian Badminton player PV Sindhu is ranked 12th with a total earning of USD 7.1 million (0.1 million on-field and USD 7 million off-field).  She is the only Indian and the only badminton player among the top 25 of the list.

• Naomi Osaka of Japan(Tennis) tops the list with USD 51.1 million(USD 1.1 million on-field and USD 50 million off-field.
• Serena Williams of United States of America(USA) (Tennis) is ranked 2nd with USD 41.3 million (USD 0.3 million on-field and USD 41 million off-field followed by Eileen Gu of China (Freestyle Skiing) ranked 3rd with USD 20.1 million (USD 0.1 million and USD 20 million off-field).

Top 5 World’s Highest-Paid Female Athletes 2022: 

About PV Sindhu:
i.Pusarla Venkata Sindhu, known as PV Sindhu is hailing from Hyderabad, Telangana.
ii.She is the first and only Indian to become the badminton world champion and only the second individual athlete from India to win two consecutive medals at the Olympic Games
iii.She won silver in 2016 Olympic (Rio de Janerio) and Bronze in 2020 Olympic (Tokyo).
iv.According to the BWF world Ranking – Women’s Singles, PV Sindhu is ranked 6th.
v.She is India’s 2nd medalist in the singles events at the World Championships since Prakash Padukone’s bronze medal in 1983.
Awards:

• She was honoured with Arjuna Award in 2013 and Major Dhyan Chand Khel Ratna Award in 2016.
• Government of India honoured her with Padma Shri in 2015 and Padma Bhushan in 2020 for sports.

Forbes’ World’s Highest-Paid Female Athletes: 
i.The Forbes ranking – World’s Highest-Paid Female Athletes 2022 – of the highest-paid female athletes reflects earnings from the calendar year 2022.
ii.The on-field earnings includes base salaries, bonuses, stipends and prize money and are rounded to the nearest USD 100,000 and the off-field earnings estimates, which are rounded to the nearest USD 500,000

BANKING & FINANCE

IFC Lends USD 400 million to HDFC to Boost Green Affordable Housing Finance

International Finance Corporation (IFC), a member of the World Bank Group, provided a loan of USD 400 million to  Housing Development Finance Corporation (HDFC) Limited to boost green affordable housing finance in India, which shall support India’s shift towards a more sustainable growth path, creating jobs and ensuring long-term business growth.
Key highlights:
i.This new investment would help in bridging the urban housing gap and improve access to climate-smart affordable homes in India.

• Additionally, the lending framework will set rigorous standards for green buildings that allows HDFC in boosting the quality green housing pipeline while channelling funds to this segment.

ii.It also enables HDFC to on-lend to borrowers after ensuring one’s affordability to such green housing.
Note – Around 275 million people (22 percent of the population) in India do not have access to adequate housing and also rural housing shortage is twice that of urban areas.
About International Finance Corporation (IFC):
Managing Director (MD) – Makhtar Diop
Headquarters – Washington D.C, New York (NY)
Establishment – 1944
Parent Organisation – World Bank

IMF Projects 6.8 percent Growth in Current Fiscal for India

On 23rd December 2022 the International Monetary Fund (IMF) in its Article IV consultation report projected a growth rate of 6.8 percent in the current fiscal year (FY23) and falling to 6.1 percent in the next fiscal year (FY24).

• The IMF also called for further structural reforms, including addressing the adverse impact of climate change and to secure strong and sustainable growth.

Key highlights:
i.The IMF board also suggested that the Monetary tightening must be communicated to balance inflation objectives and growth needs.

• Upon tightening, financial conditions could weaken the asset quality and result in financial sector stress, limit credit provision and negatively impact long-term growth.

ii.According to the IMF, reduced international cooperation can further disrupt trade and increase financial markets volatility, over the medium term.

• The exchange rate will continue to act as a shock absorber with foreign exchange intervention limited to addressing disorderly market conditions.

iii.The IMF’s Article IV consultation report also includes a Staff Report that provides a country assessment, an executive board assessment based on the report, and a statement by the executive director for the country.
Solutions:
i.India’s estimated 5 % tax gap in GDP shall be narrowed by reversing the fuel excise tax cuts, further broadening the corporate and personal income tax bases, simplifying the goods and services tax (GST) rate structure, rationalising the items subject to preferential GST treatment, and continued improvements in tax administration, in line with international good practices.
ii.Maintaining momentum in the asset monetization and privatisation agenda could generate additional receipts and the improved efficiency through better targeting of subsidies can reduce leakages in the expenditure side.

AWARDS & RECOGNITIONS  

Indian Scientist Prof. Thalappil Pradeep Receives Vinfuture Special Prize 2022

Professor Thalappil Pradeep, an Indian scientist from the Indian Institute of Technology Madras (IIT-M) in Chennai, Tamil Nadu, was awarded the “VinFuture Special Prize 2022” in Hanoi, the capital of Vietnam.

• He received the “Special Prize for Innovators from Developing Countries” for developing a low-cost filtration system to remove arsenic and other heavy metals from groundwater.

Key Points:
i.Professor (Prof.) Thalappil Pradeep has identified the most suitable and advanced materials for removing certain contaminants from water in the most cost-effective and sustainable manner.
ii.He was previously awarded the ‘Padma Shri Award 2020’ for his work in developing affordable and safe drinking water solutions utilizing nanomaterials.
iii.He was also conferred with the 25th Nikkei Asia Prizes (2020) in Science and Technology (S&T) category in recognition of his pioneering work in nanotechnology-based water purification.
VinFuture Prize
i.The VinFuture Prize serves as the central core of the ‘VinFuture Foundation’, an independent, non-profit organisation.

• Mr. Phạm Nhật Vượng, the first Vietnamese billionaire and founder of the largest Vietnamese conglomerate, Vingroup, founded it with his wife, Mrs. Phạm Thu Hương.

ii.The Prize was established on December 20, 2020, International Solidarity Day, to honour outstanding researchers and inventors.

• It intends to recognize scientific breakthroughs and technological inventions that have a significant impact on the daily lives of millions of people.

VinFuture Prize 2022 (2nd edition)
i.The VinFuture Prize 2022 marks the second season of the award.
ii.The VinFuture Grand Prize 2022 was given to 5 people: Sir Timothy John Berners-Lee, Dr. Vinton Gray Cerf, Dr. Emmanuel Desurvire, Dr. Robert Elliot Kahn, and Prof. Sir David Neil Payne.

• Sir Timothy John Berners-Lee is the creator of the World Wide Web.

iii.In addition to the Grand Prize, three Special Prizes of USD 500,000 each have been granted to innovators in emerging fields (Dr. Demis Hassabis and Dr. John Jumper), female innovators (Prof. Pamela Christine Ronald), and innovators from developing countries (Prof. Thalappil Pradeep).

• The VinFuture Special Prize 2022 has a prize money of Rs. 4 crore (USD 500,000).
• The award was presented by VinFuture Prize Council Chairman Richard Friend.

UIDAI gets DSCI Excellence Award for ‘Best Security Practices in Government Sector’

Unique Identification Authority of India (UIDAI) has been honoured with the Data Security Council of India (DSCI) Excellence Award 2022 under ‘Best Security Practices in Government Sector’ category.

• The award recognises UDAO’s contribution in securing national critical ‘Aadhaar’ infrastructure which provides digital identity based welfare services to residents.
• The award was given during the 3-day Annual Information Security Summit (AISS) of Data Security Council of India (DSCI) in New Delhi, Delhi.

Note: DSCI is a not-for-profit industry body on data protection in India established by the National Association of Software and Service Companies(NASSCOM).
About DSCI Excellence Award: 
Around 270 nominations were registered across 5 award categories.
The awards were presented under 5 categories and Special Jury Recognition Award Categories.
The 5 categories includes,
i.Best Security Practices in Organization
ii.Industry leaders

• Security Leader of the Year
• Privacy Leader of the Year

iii.Best Privacy Practices in Organization
iv.Cyber Security Evangelists
v.Cyber Security Services Company of the Year

The special jury recognition awards categories includes,

• Best Security Practices in Banking
• Best Security Practices in Energy
• Cyber Security Services Company of the Year in India Geography

Click here for the complete list of winners of DSCI Excellence Award 2022
Key Points: 
i.UIDAI was the first Government organisation to be Privacy Certified on leading industry standard (ISO27701).
ii.It is also one of the leading government institutions that is ahead in innovation and incubation of indigenized technology implementation.
Additional info: 
i.Dr. Saurabh Garg, CEO of UIDAI has invited startups and tech companies for collaboration and do research on indigenized digital technology products with UIDAI.
ii.He also highlighted how various economies are reaching out to UIDAI for consultation on digital identity programs and leading role of India in guiding them through the Digital Public goods.

About Unique Identification Authority of India (UIDAI):
Chief Executive Officer (CEO)– Dr Saurabh Garg
Headquarters– New Delhi, Delhi

Sudeep Sen & Shobhana Kumar won the Rabindranath Tagore Literary Prize 2021-2022

The Rabindranath Tagore Literary Prize 2021-22 has been jointly won by Sudeep Sen for his genre and form bender “Anthropocene: Climate Change, Contagion, Consolation” published by Pippa Rann Books & Media in 2021and Shobhana Kumar for her haibun collection “A Sky Full of Bucket Lists” published by Red River in 2021 at the Multipurpose Hall, India International Centre in New Delhi, Delhi.

• The award carries a cash prize of USD 10,000 each.
• A Rabindranath Tagore statuette was chosen from a shortlist of 11.

The Tagore Prize for social achievement was awarded to Sanjoy K Roy, producer of the Jaipur Literature Festival.
Attendees:
Freddy Svane, Ambassador of Denmark, deputy ambassador of Taiwan Mumin Chen, Ashok Vajpayee and Dr George Gauthier II and many more.
About the Rabindranath Tagore Literary Prize:
i. The Rabindranath Tagore Literary Prize was instituted in 2018 which annually recognises and honours literary and social accomplishments.
ii. This award was initiated by Peter Bundalo of the United States (US)- based independent and non-profit publishing house Maitreya Publishing Foundation (MPF) to honour the legacy of Rabindranath Tagore.
iii. The Rabindranath Tagore Literary Prize was split into 2 folds in 2019, they are,

• Literary Prize– awarded to the finest in Indian Literature.
• Social Achievements Prize– to recognise a person who has made a positive and lasting impact on society.

Click here for Rabindranath Tagore Literary Prize 2021-2022 Shortlist      

Cyclist Swasti Singh gets 30th Ekalabya Puraskar

On 23rd December 2022, International cyclist Swasti Singh hailing from Odisha has been honoured with the 30th Ekalabya Puraskar for the year 2022 during a programme organized by Indian Metals Public Charitable Trust (IMPaCT), the charitable wing of IMFA.

• She received a cash award of Rs 5 lakh, a citation, and a trophy.
• She was honoured for her performance from 1st April 2022 to 31st March 2022 at both national and international levels.
• Swasti Singh has won 2 gold and several silver medals at the national level representing Odisha and was credited with the best individual brilliance from 1st April 2022 to 31st March 2022.

Dignitaries: 

• Billiards and Snooker World Champion Pankaj Advani, and Indian Athlete Pranati Mishra(1990 Asian Games Silver medalist) participated in the event as Chief Guest and Guest of Honour respectively.
• Baijayant Panda, Chairman of Eklabya Puraskar Committee 2022, and other jury members graced the event.

Key Points:
Indian Women’s Footballer Pyari Xaxa, hailing from Odisha and Indian field hockey player Shilanda Lakra from Odisha were also recognised with citations and cash awards of Rs 50,000 each.
About Ekalabya Puraskar:
i.Ekalabya Puraskar was instituted by IMPaCT(Indian Metals Public Charitable Trust) of IMFA, a leading Ferro Alloys producer, in the country, in 1993.
ii.The annual award aims to encourage and inspire young sportspersons to perform at national and international levels.
iii.It is recognised as the most prestigious sports award of Odisha.

APPOINTMENTS & RESIGNATIONS    

Prof K S Rangappa Elected as Fellow of UNESCO-TWAS

Former Vice-Chancellor of University of Mysore Professor K.S. Rangappa has been awarded a fellowship of the World Academy of Sciences (TWAS), a programme unit of the United Nations Educational, Scientific, and Cultural Organisation UNESCO, headquartered in Trieste, Italy for the advancement of science in developing countries.

• This fellowship comes into effect from 1st January 2023. Prof Rangappa, being the fellow, can nominate young scientists from the State universities for getting research grants.
• He is listed among the top 2 percent of world scientists since 2019.

Key highlights:
i.Rangappa, was also vice-chancellor of University of Mysore (UoM) and Karnataka State Open University and is specialised in Chemical Biology-Drug Discovery.

• He is also an ambassador (science and technology) of Hokkaido University of Japan.

ii.He has served as General President of the Indian Science Congress Association (ISCA) for the year 2019-20.
iii.Rangappa is a CSIR Emeritus Scientist and a member of the Institutional Body of five All India Institute of Medical Sciences (AIIMS); Asutosh Mookerjee Fellow of ISCA; distinguished professor of UoM; member of Board of Directors of Institute for Social and Economic Change; and president of Forum of Former Vice Chancellors of Karnataka.
About TWAS:
i.TWAS was established in 1983 by a distinguished group of scientists from the developing world with an objective of encouraging scientific research in solving major challenges facing developing countries.
ii.Other members – TWAS, initially had 42 elected fellows and 9 of them Nobel laureates. Presently, it has 1,296 elected fellows, representing more than 100 countries and 11 of them are Nobel Laureates.
President – Mohamed H.A. Hassan (Sudan)
Secretary General – Luiz Davidovich (Brazil)
Headquarters – Trieste – Italy
Establishment – 1985 (officially inaugurated)

P N Vasudevan to Continue as MD & CEO of Equitas Small Finance Bank

On 23rd December 2022, the Board of Equitas Small Finance Bank (SFB) has decided to extended the term of PN Vasudevan as Managing Director (MD) and Chief Executive Officer (CEO) for a period of 3 years of with effect from 23rd July 2022, subject to approval from the Reserve Bank of India (RBI).

• PN Vasudevan is the founder of Equitas SFB and his current term as MD & CEO expires on 22nd July 2023.

About P N Vasudevan:
i.Vasudevan holds a bachelor’s degree in science (physics) from University of Madras and is a qualified company secretary from the Institute of Company Secretaries of India.

• He has extensive experience in the financial services sector and has served as the executive vice president and head of consumer banking group in Development Credit Bank Limited, for more than one and half years.

ii.He has worked in Cholamandalam Investment and Finance Company Limited, part of the Murugappa Group for about two decades. He joined as a management trainee and resigned as the vice president and head of vehicle finance.
iii.He was also the chairman of the managing committee of the South India Hire Purchase Association for 2006 and joined Equitas SFB in 2016, prior to which he was the Managing Director of EHL.

Sitiveni Rabuka Returns as New Prime Minister of Fiji

Sitiveni Rabuka, a former military commander, has been chosen as Fiji’s 12th Prime Minister (PM), replacing Frank Bainimarama, who has been in office for 16 years.

• Mr. Rabuka, who served as PM of Fiji from 1992 to 1999, is being elected to the post for the second term.
• Frank Bainimarama of the Fiji First Party overthrew the government in a coup in 2006 and became Prime Minister in 2007.

Earlier, Naiqama Lalabalavu was appointed as the new Speaker of Fiji’s Parliament, defeating Fiji First candidate Epeli Nailatikau, who served as Fiji’s President from 2009 to 2015.
About Sitiveni Rabuka
i.The head of the People’s Alliance Party (PAP), Rabuka, was elected after building a majority coalition with two other smaller parties, the National Federation Party and the Social Democratic Liberal Party (SODELPA).
ii.Rabuka, who staged two coups in 1987 and was nicknamed “Rambo,” defeated Bainimarama in a secret ballot held in Parliament by 28 votes to 27.
iii.Rabuka received the French Légion d’honneur for his gallantry in rescuing a French officer during an attack on the United Nations headquarters in Lebanon in 1980.
Key Points:
i.Fiji, a small Pacific island, has experienced four coups in the last 35 years.
ii.Under Mr. Bainimarama, Fiji, one of the most populous and prosperous Pacific island nations, has gotten closer to China.

• However, Mr. Rabuka has shown a willingness to abandon Beijing in support of old allies Australia and New Zealand.

iii.Mr. Bainimarama came to power in a 2006 attempted coup that ended in the removal of PM Laisenia Quarase, and he became the PM in 2007.

• He reinforced his government’s legitimacy by winning outright elections in 2014 and 2018, and he remained in office until 2022, when he was defeated by Rabuka.

About Fiji:
President – Ratu Wiliame Maivalili Katonivere
Capital – Suva
Currency – Fiji Dollar (FJD)

Indian American Richard Verma Nominated to top Diplomatic Position

On 23rd December 2022, Joe Biden, President of the United States, nominated Indian-American lawyer diplomat Richard Verma to be the Deputy Secretary of State for Management and Resources.

• Richard Verma is currently the Chief Legal Officer and Head of Global Public Policy at Mastercard.
• Prior to his top diplomatic position in the State Department, he served as a former US ambassador to India from 16th January 2015, to 20th January 2017.
• He would be the highest-ranking Indian American in the State Department if confirmed by the US Senate.      
  

SCIENCE & TECHNOLOGY

JNCASR researchers shown 1st time IR light emission & absorption with GaN, a new artificial Nanostructures

Researchers of Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR), Bengaluru, Karnataka, have shown for the 1st time infrared(IR) light emission and absorption with GaN, new artificial nanostructures for Infrared Absorption Technologies can be useful in Defense, Imaging & Sensing.
The research has been published in the prestigious journal Nano Letters. 

• JNCASR is an autonomous institute of the Department of Science and Technology, Bengaluru, Karnataka.
• This new method help in the development of highly efficient infrared absorbers, emitters, and modulators for use in defence & energy technologies, imaging, sensing, and other applications.

Key Points:
i. One of the most advanced semiconductors is GaN, a widely used material for blue light emission.
ii. Though visible and ultraviolet light applications of GaN have already been realised, with Light-Emitting Diodes (LEDs) and laser diodes commercially available, utilisation of GaN for IR light harvesting or development of GaN-based IR optical elements is lacking.
iii. Though GaN has been known for some time and is used in LEDs, this is the 1st time that infrared light-matter interactions have been demonstrated in GaN.
iv. Molecular beam epitaxy in the International Centre for Materials Science in JNCASR was used to grow GaN nanostructures.
v. This instrument creates high-quality material nanostructures with dimensions 1,00,000 times smaller than the width of a human hair using an ultra-high vacuum.
vi. This work will be extremely beneficial in meeting the demand for infrared sources and detectors for energy, security, imaging, and other applications.

ISRO to carry US Instruments on Board the Forthcoming Chandrayaan-3 Mission

Indian Space Research Organisation’s (ISRO) forthcoming Chandrayaan-3 mission will carry scientific instruments of the United States of America (USA).

• In the last 5-years, India has signed 4 cooperative agreements to collaborate on space exploration.
• Apart from the USA, India has also signed an agreement with Japan to conduct a feasibility study for a joint lunar polar exploration mission, while the United Kingdom (UK) has an agreement to conduct a feasibility study for collaboration in future space science missions.

Note: The Chandrayaan-2 mission also carried American scientific instruments.

OBITUARY

England’s 1966 Football World Cup Winner George Cohen Passes Away

England’s legendary footballer George Cohen, who was a part of England’s 1966 Football World winning team, passed away at the age of 83. He was born in Kensington, London (England), in 1939.  He was one of only three surviving members of that World Cup-winning squad, along with Bobby Charlton and Geoff Hurst.

• He joined Fulham Football Club(FC) in 1956 and made his debut in 1957. He has made 459 appearances representing Fulham FC between 1956 and 1969.
• He made his international debut in 1964 representing England. He has won 37 caps for England and was the vice-captain of the 1966 World Cup Winning team.
• In 2000, he was awarded an MBE for services to football alongside four of his team-mates including Roger Hunt, Alan Ball, Ray Wilson and Nobby Stiles from 1966.
• In 2016, Fulham Football club erected a statue of Cohen outside their Craven Cottage stadium in celebration of the 50th anniversary of World Cup winning.

IMPORTANT DAYS

National Consumer Day 2022 – December 24

National Consumer Day or Bhartiya Grahak Diwas is annually observed across India on December 24 to create awareness about consumer rights and responsibilities.
The day also aims to protect consumers from market exploitation like defective products or expensive pricing.

• National Consumer Day is also known as National Consumer Rights Day.

Background:
i. The Day commemorates the enactment of the Consumer Protection Act of 1986, which received assent from the President of India on 24th December 1986.
ii. The 1st National Consumer Day was observed on 24th December 1986.
About the Ministry of Consumer Affairs, Food & Public Distribution:
Minister- Piyush Goyal (Rajya Sabha- Maharashtra)
Minister of State- Ashwini Kumar Choubey (Buxar, Bihar); Sadhvi Niranjan Jyoti (Fatehpur, Uttar Pradesh)
>> Read Full News

STATE NEWS

Manipur CM N. Biren Singh Launches Upgraded Inner Line Permit System Portal

On 23rd December 2022, Manipur Chief Minister (CM) N. Biren Singh launched an upgraded Inner Line Permit (ILP) System portal, for saving the indigenous population of Manipur.

• The portal also makes it convenient for visitors from outside Manipur to apply for ILP.
• This portal had been launched with new development added to the earlier ILP system.

Note: Following a mass campaign to safeguard the indigenous population of Manipur, the government of India extended the ILP system in Manipur in December 2019 and It came into effect on 1st January 2020.

Attendees – The launching programme was attended by Additional Director General of Police Ashutosh Kumar Sinha, Commissioner T Ranjit, Deputy Inspector General of Police Ningshen Worngam, Deputy Commissioners, Superintendents of Police and other Government officials.
Key highlights:
i.ILPs were earlier issued manually at Mao gate bordering Myanmar, the Imphal airport and Jiribam bordering Assam and this can now be issued by the Deputy Commissioners and Labour Commissioners of Manipur through online.
ii.The bar code has also been put in the ILP, through which the identity of the possessor can be identified by simply scanning. Also, duplicity and fraud in ILP could be checked.
iii.The temporary permits will be issued for 30-days; regular permits for 3-months and labour permits for a year.
About Manipur:
Governor – La. Ganesan
Chief Minister (CM) – Nongthombam Biren Singh
National Park – Sirohi National Park
Wildlife Sanctuary – Yangoupokpi-Lokchao Wildlife Sanctuary

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