Current Affairs is the most important area in all competitive exams. But the difficulty level is very high. That’s why; many aspirants get confused, how to select Current Affairs for Preparation of Competitive Examination? In this Post, Daily Current Affairs 11 January 2023, we have tried to cover each and every point and also included all important facts from National/ International news that are useful for upcoming competitive examinations such as UPSC, SSC, Railway, State Govt. etc.
Current Affairs for Competitive Exam – 11 January 2022
Golden Globe Awards 2023: The Golden Globe for Best Original Song went to composer MM Keeravani, singers Kaala Bhairava and Rahul Sipligunj, and the song “Naatu Naatu” from the epic drama “RRR”. “Naatu Naatu,” a dance number featuring stars Jr NTR and Ram Charan, was competing against Taylor Swift’s “Carolina” from Where the Crawdads Sing, “Ciao Papa” from Guillermo del Toro’s Pinocchio, Lady Gaga’s “Hold My Hand” from Top Gun: Maverick, and “Lift Me Up” from Black Panther: Wakanda Forever, performed by Rihanna.
The historical epic has also been nominated for an 80th Golden Globe Award in the Best Foreign Language Film category. In the ‘best picture–non English segment’, “RRR” will face off with Korean romantic mystery film “Decision To Leave”, German anti-war drama “All Quiet on the Western Front”, Argentine historical drama “Argentina, 1985”, and French-Dutch coming-of-age drama “Close”.
Notably: India previously made its presence felt in the Best Original Score category over a decade ago, when AR Rahman won for Danny Boyle’s Slumdog Millionaire.
About the RRR:
SS Rajamouli’s ”RRR” follows a pre-Independence fictional story woven around two real-life Indian revolutionaries – Alluri Sitarama Raju and Komaram Bheem – in the 1920s. The film stars Ram Charan, Jr NTR, Alia Bhatt and Ajay Devgn in key roles. “RRR,” which was theatrically released in March, is said to have earned more than Rs 1,200 crore at the box office worldwide.
RBI Lists 6 Rating Agencies for Banks’ Capital Adequacy Purposes: The list of six credit rating firms that banks can use to risk-weight their claims for capital adequacy purposes was released by the Reserve Bank of India (RBI). The six credit rating agencies are Acuite Ratings & Research Limited, Credit Analysis and Research Limited (CARE), CRISIL Ratings Limited, ICRA Limited, India Ratings and Research Private Limited (India Ratings)\ and INFOMERICS Valuation and Rating Pvt Ltd. To comply with Basel-III capital regulations, banks are required to get ratings from these organisations.
RBI Struck Down A Rating Agency:
The RBI said no fresh ratings shall be obtained from Brickwork Ratings India Private Limited. In October last year, the Securities and Exchange Board of India has cancelled the Certificate of Registration (CoR) granted to Brickwork Ratings India Private Limited as a Credit Rating Agency (CRA) and directed it to wind down its operations within a period of six months.
The Sebi undertook a joint inspection with RBI in January 2020 of the records and documents of Brickwork, for the period from October 2018–November 2019 to ascertain any violation of credit rating agency rules.
What is Credit Rating:
A credit rating is an assessment of the creditworthiness of a borrower in general terms or with respect to a particular debt or financial obligation. Any organisation looking to borrow money, whether it be a person, business, state or local authority, or sovereign government, can be given a credit rating.
What are Credit Rating Agencies:
A credit rating agency (CRA) is a company that assigns credit ratings, which rate a debtor’s ability to pay back debt by making timely principal and interest payments and the likelihood of default. There are five credit rating agencies registered under SEBI namely, CRISIL, ICRA, CARE, SMERA and Fitch India .
What is Capital Adequacy Ratio:
The Capital Adequacy Ratio (CAR) of a bank is the ratio of its capital to its risk-weighted assets and current liabilities. The capital adequacy ratio, also known as the capital-to-risk-weighted-assets ratio (CRAR), is used to protect depositors and promote the stability and efficiency of global financial systems.
What are Basel norms:
- Basel norms or Basel accords are the international banking regulations issued by the Basel Committee on Banking Supervision. The Basel norms is an effort to coordinate banking regulations across the globe, with the goal of strengthening the international banking system. It is the set of the agreement by the Basel committee of Banking Supervision which focuses on the risks to banks and the financial system.
- Basel is a city in Switzerland.
- It is the headquarters of the Bureau of International Settlement (BIS), which fosters cooperation among central banks with a common goal of financial stability and common standards of banking regulations.
- It was established in 1930.
- The Basel Committee on Banking Supervision is housed in the BIS offices in Basel, Switzerland.
BharatPe Gets in-principle nod from RBI to Operate as Online Payment Aggregator: Fintech platform BharatPe said it has received in-principle authorisation from the Reserve Bank of India (RBI) to operate as an online payment aggregator (PA). According to the company, Resilient Payments Private Ltd, a fully-owned subsidiary of Resilient Innovations Private Ltd, received an in-principle approval (BharatPe).
More About This Development:
RBI’s nod comes amid a slew of high profile exits the Sequoia Capital and Tiger Global-backed firm, which has been battling controversies since last year. It is currently fighting a court battle with its former co-founder Ashneer Grover alleging financial misappropriation. In March of last year, Grover was removed.
About the payment aggregator framework:
- Payment aggregators are entities that facilitate e-commerce sites and merchants to accept various payment instruments from the customers. The merchants do not need to create a separate payment integration system of their own.
- Under the payment aggregator framework, which was formally launched in March 2020, only businesses that have been approved by the RBI are permitted to purchase and provide payment services to merchants.
- RBI has been strict in its evaluation of entities that have applied for the payment aggregator licence.
- Multiple online payment gateways seeking the aggregator licence came under intense scrutiny from the central bank for – know-your-customer (KYC) related issues, past dealings with cryptocurrency exchanges and gaming apps, and for not complying with the net worth criteria that RBI had set out.
- Some fintech firms like Razorpay, Pine Labs, Open, Cahfree, 1Pay have already received RBI approval for PA in the last few months. Over 185 fintech enterprises and startups which had submitted their proposals for a payment aggregator licence.
Rehman Rahi Kashmir’s first Jnanpith awardee, passes away: Professor Rehman Rahi, renowned poet and Kashmir’s first Jnanpith awardee took his last breath in the early hours on Monday at his residence in the Nowshera area of Kashmir. The well-known poet was 98 years old when he passed away. There are four kids left behind by him.
About Rehman Rahi:-
- Rahi, who was born on May 6, 1925, published various books of poetry and translated into Kashmiri the writings of a number of well-known poets.
- He had started his career as a clerk in a government department in 1948 after which he continued his education and completed MA in Persian and English in 1950s and 60s. He was an academic at Kashmir University for most part of his life.
- Rahi won the Padma Shri in 2000 after winning the Sahitya Akademi Award in 1961 for his poetry collection Nawroz-i-Saba.
- He received the highest literary honour of the country — Jnanpith award — in 2007 for his collection ‘Siyah Rood Jaeren Manz’ (In Black Drizzle).
About Sahitya Akademi Award:-
The Sahitya Akademi Award is a literary honour in India, which the Sahitya Akademi, India’s National Academy of Letters, annually confers on writers of the most outstanding books of literary merit published in any of the 22 languages of the 8th Schedule to the Indian constitution as well as in English and Rajasthani language.
The 1954-instituted award comprises of a plaque and a ₹1,000 cash reward. The award’s purpose is to recognise and promote excellence in Indian writing and also acknowledge new trends. The annual process of selecting awardees runs for the preceding twelve months. The Indian filmmaker Satyajit Ray created the plaque presented by the Sahitya Akademi. Prior to this, the plaque occasionally was made of marble, but this practice was discontinued because of the excessive weight. During the Indo-Pakistan War of 1965, the plaque was substituted with national savings bonds.
About Padma Shri:-
Padma Shri , also spelled Padma Shree, is the fourth-highest civilian award of the Republic of India, after the Bharat Ratna, the Padma Vibhushan and the Padma Bhushan. Instituted on 2 January 1954, the award is conferred in recognition of “distinguished contribution in various spheres of activity including the arts, education, industry, literature, science, acting, medicine, social service and public affairs”. Every year on India’s Republic Day, the Indian government presents it to the recipient.
About Jnanpith award:-
The Jnanpith Award is the oldest and the highest Indian literary award presented annually by the Bharatiya Jnanpith to an author for their “outstanding contribution towards literature”. Instituted in 1961, the award is bestowed only on Indian writers writing in Indian languages included in the Eighth Schedule to the Constitution of India and English, with no posthumous conferral.
From 1965 till 1981, the award was given to the authors for their “most outstanding work” and consisted of a citation plaque, a cash prize and a bronze replica of Saraswati, the Hindu goddess of knowledge and wisdom. The inaugural winner of the prize was the Malayalam author G. Sankara Kurup, who took home the honour in 1965 for his 1950 poem collection Odakkuzhal (The Bamboo Flute). The rules were revised in subsequent years to consider only works published during the preceding twenty years, excluding the year for which the award was to be given and the cash prize was increased to ₹1.5 lakh (equivalent to ₹26 lakh or US$33,000 in 2020) from 1981.
Out of the twenty-three eligible languages, the cash prize has been revised to 11 lakh (equivalent to 14 lakh or ₹18,000 in 2020), and as of 2015, the award has been given for works in sixteen of those languages: Hindi (eleven), Kannada (eight), Bengali and Malayalam (six each), Gujarati, Marathi, Odia, and Urdu (four each), Assamese and Telugu (three each), Punjabi (one each). The award has been conferred upon fifty-eight writers including seven women authors. In 1976, Bengali novelist Ashapoorna Devi became the first woman to win the award and was honoured for the 1965 novel Prothom Protishruti (The First Promise), the first in a trilogy. The most recent recipients of the award are Assamese poet Nilmani Phookan and Konkani writer Damodar Mauzo, awarded for the years of 2021 and 2022 respectively.
RS Sodhi steps down as Amul MD, Jayen Mehta takes interim charge: RS Sodhi, the managing director of Amul Federation since 2010, left his position on January 9 after the board decided to terminate his employment with “immediate effect”. He has been replaced for an interim period by Jayan Mehta, Amul’s incumbent chief operating officer. The decision to replace Sodhi was taken at the board meeting of Gujarat Cooperative Milk Marketing Federation (GCMMF), the farmers’ cooperative that operates the Amul brand.
About Rs Sodhi:-
- Sodhi, who has been employed with Amul since 1982, has been in charge of things since 2010. GCMMF’s revenue increased significantly during his direction, rising from Rs 9,774.2 crore in 2010–11 to Rs 46,481 crore in 2021–22.
- Before taking over as MD, Sodhi was general marketing manager in the 2000s.
- For more than three decades, Sodhi worked under the direct guidance of Verghese Kurien, the father of the White Revolution.
- He obtained a bachelor’s degree in agri-engineering from CTAE, Udaipur, and he is among the first-batch alumni of the Institute of Rural Management, Anand (Irma).
- Under Sodhi’s leadership, Amul launched more than 100 stock-keeping units during the pandemic.
- It also launched from immunity-boosting milk in variants of turmeric, ginger, and tulsi. It added sweets like mohanthal, barfi, kaju katli, and laddoo to Amul’s catalogue.
- So far, Amul has launched more than 100 products across dairy and non-dairy categories since Covid.
Based in Anand, Gujarat, Anand Milk Union Limited (AMUL) is a dairy state government cooperative society in India. Formed in 1946, it is a cooperative brand managed by Gujarat Cooperative Milk Marketing Federation Ltd. (GCMMF), which is controlled jointly by 36 lakh milk producers in Gujarat and the apex body of 13 district milk unions, spread across 13,500+ villages of Gujarat. Amul spurred India’s White Revolution, which made the country the world’s largest producer of milk and milk products.
Cricket legend M S Dhoni Releases Autobiography of Prof. K.K. Abdul Gaffar: Mahendra Singh Dhoni, a legendary cricket player, released Professor K.K. Abdul Gaffar’s book, “Njaan Sakshi” (myself as the witness). Senior journalist T.A. Shafi gave the book’s introduction. The first copy was received by Marwan Al Mulla, the CEO of Dubai Health Authority (DHA), from M S Dhoni. He also presented copies of the book to dignitaries including actor Tovino Thomas present at the occasion.
Senior Supreme Court Attorney and son of Kapil Sibal, Akhil Sibal, Former Union Minister Salim Iqbal Sherwani, Uduma MLA, C.H. Kunhambu, Kasaragod MLA, N.A. Nellikkunnu, Mangaluru City South MLA Vedavyas Kamath, participated in the event.
Incidentally, the book includes the infamous disappearance of P. Rajan, an engineering student from Kozhikode REC, during the emergency period and recalls the pressure put on him on behalf of the government and the police to influence him as a witness in the case. On March 1, 1976, Rajan was last seen by him before the police took him into jail from the REC hostel. The book has a lot of such details about the case, both known and unknown to Kerala society.
Chetan Sharma continue as chairman of BCCI senior selection committee: The Cricket Advisory Committee (CAC) on Saturday decided to retain Chetan Sharma as the chairman of Board of Control for Cricket in India (BCCI) senior selection committee. The committee comprising Sulakshana Naik, Ashok Malhotra, and Jatin Paranjape undertook an extensive process for selecting members of the All-India Senior Selection Committee.
The Board had received close to 600 applications following its advertisement for the five posts issued on its official website on 18th November 2022.
He was the head of the board’s selection committee from December 2020. His name was recommeded by the Cricket Advisory Committee. The committee also named Shiv Sundar Das (Central Zone), Subroto Banerjee (East Zone), Salil Ankola (West Zone) and Sridharan Sharath (South Zone).
BCCI secretary: Jay Shah
Union Minister Jitendra Singh releases theme of National Science Day 2023: Union Minister of Science and Technology, Dr. Jitendra Singh has released the theme of National Science Day 2023. Union Minister of State (Independent Charge) Science & Technology; Minister of State (Independent Charge) Earth Sciences; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh released the theme for the “National Science Day 2023”, titled “Global Science for Global Wellbeing” at National Media Centre, here.
Dr Jitendra Singh said, the theme of “Global Science for Global Wellbeing” is perfectly in sync with India assuming the Presidency of G-20, where she will become the voice of the global south that is the developing countries of Asia, Africa and South America.
Dr Jitendra Singh said, India has acquired Global Visibility in the Comity of Nations under Prime Minister Modi and we are ready for Outcome oriented Global Collaboration to address the Global Challenges. He said, when concerns, challenges and benchmarks have assumed global dimensions, the redressal should also be of the global nature.
The theme has been selected for the purpose of raising public appreciation of scientific issues in a global context which is having a bearing on global Well-being. National Science Day is celebrated every year on the 28th February to celebrate the discovery of the Raman Effect by Indian Physicist Sir C V Raman.
Meta appoints Vikas Purohit as Director of Global Business Group India: Technology major Meta on Monday named Vikas Purohit as its director of its global business group in India to lead the strategy of working with advertisers and agency partners.
January 2023 Current Affairs Quiz
Purohit will spearhead the company’s relationship with the country’s leading brands and advertising agencies to drive Meta’s revenue growth across key channels in India and accelerate the adoption of digital tools by the largest advertisers and agencies, the company said in a prepared statement.
He will lead the strategy and delivery units under the advertising wing. He has served as the chief executive at Tata CLiQ till October 2022. He will report to Arun Srinivas, Director and Head of Ads Business for Meta in India. He has also worked in companies such as Amazon, Reliance Brands, Aditya Birla Group and Tommy Hilfiger.
Suryakumar Yadav: In terms of balls faced, Suryakumar Yadav has become the player to reach 1,500 runs in T20 International cricket the fastest. It only took 843 balls to reach this location. Suryakumar has scored 1,578 runs at an average of 46.41 in 45 games and 43 innings. In the format, he has three century and thirteen half-centuries, with a best individual score of 117.
However, he is the third-fastest batter to reach the 1,500-run mark in terms of innings. The fastest batters to reach this landmark are Indian batter Virat Kohli, KL Rahul, Australian veteran Aaron Finch and Pakistan skipper Babar Azam, who all took 39 innings to score 1,500 runs in T20 International cricket. Mohammed Rizwan, a Pakistani wicketkeeper-batsman, and Suryakumar both accomplished this feat in 43 innings.
- Suryakumar also holds the record of being the second fastest Indian player to score a century in T20 Internationals. Suryakumar completed his 100 off just 45 balls. The team’s captain, Rohit Sharma, is ranked first after scoring a century in 35 balls against Sri Lanka in 2017.
- Sky also holds the second position among players who have scored the most centuries in international T20 matches. Captain Rohit Sharma is leading there too with four centuries. Aussie player Glenn Maxwell and New Zealand player Colin Munro are in second position with Suryakumar with three centuries.