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 22 December 2022, 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 – 22 December 2022
Leh – J&K bank signs MoU to provide banking facilities to the UT employees: Union Territory Ladakh and the Jammu and Kashmir Bank Ltd signed a Memorandum of Understanding, MoU, to provide banking facilities to the UT employees. Under the MoU, J&K Bank would give the most favoured client status to the UT Administration as well as the active permanent employees who have their salary accounts in J&K Bank. MoU was signed in the presence of Lieutenant Governor, RK Mathur, in Leh. MoU also focuses on increasing awareness of banking facilities, J&K Bank also agrees to organize various financial literacy camps at its centres for UT employees.
J&K Bank would provide customized savings bank account services, including saving platinum, diamond, and gold cards, to permanent employees of UT Ladakh. Under the MoU, J&K Bank would give the most favoured client status to the UT Administration as well as the active permanent employees who have their salary accounts in J&K Bank
Aim: To increase awareness about banking facilities.
Paytm, HDFC ERGO launches insurance for digital transactions: Paytm has partnered with the HDFC ERGO General Insurance to launch a group insurance plan called ‘Paytm Payment Protect’. This group insurance plan covers Unified Payments Interface (UPI) transactions across all apps and wallets. The first-of-its-kind insurance product can be purchased for as little as Rs 30 per year. Customers can now protect themselves from fraudulent mobile transactions up to Rs 10,000. Soon, the offering will have higher protection options for covering up to Rs 1 lakh annually.
“To protect users and combat cybercrime, we are providing insurance coverage with straightforward claims. Our collaboration with HDFC ERGO aligns with our goal of raising financial literacy,” said Bhavesh Gupta, CEO of Lending and Head of Payments at Paytm.
Aim: To insure transactions made through UPI across all apps and wallets.
HDFC ERGO will now use Paytm to promote its cost-effective and all-inclusive insurance solutions. Since the pandemic, the use of UPI and mobile wallets has skyrocketed. “While it makes life easier and more convenient, it also leaves one open to online scams. We are thrilled to work with Paytm since it affirms our commitment to offering cutting-edge solutions to reduce cyber risks in the current digital era,” said Parthanil Ghosh, president of HDFC ERGO General Insurance’s retail business.
Dinesh Kumar Shukla appointed as new chief of AERB: Dinesh Kumar Shukla, Former Executive Director, Atomic Energy Regulatory Board, has been appointed to the post of Chairperson, Atomic Energy Regulator Board (AERB). According to an order issued by the Department of Personnel and Training (DoPT) on Saturday (17.12.2022), the Appointments Committee of the Cabinet has approved the appointment of Mr. Shukla to the post for a period of three years from the date of taking over charge of the post.
Prior to this role, he has been the executive director of the AERB. He was a graduate in mechanical engineering from the Jabalpur University, Shukla joined the Department of Atomic Energy (DAE) in 1981.
Indian forces acquiring ‘Pralay’ ballistic missile: The Indian defence forces will induct ‘Pralay’ ballistic missiles that can hit targets from 150 to 500 km. Pralay is a quasi-ballistic surface-to-surface missile.
Pralay is powered with solid propellant rocket motor with the capability to destroy enemy targets within a range of 150 to 500km. The proposal moved by the Indian defence forces is at an advanced stage and is scheduled to be taken up for clearance during a high-level meeting.
About Pralay Capabilities:
- “The new missile followed the desired quasi ballistic trajectory and reached the designated target with high degree accuracy, validating the control, guidance and mission algorithms. All the sub-systems performed satisfactorily. All the sensors deployed near the impact point across the eastern coast, including the down range ships, tracked the missile trajectory and captured all the events,” the statement read.
- The Pralay missiles combined with the BrahMos supersonic cruise missiles would be the longest-range tactical weapon system in the defence forces as the long-range strategic weapons are controlled by the strategic forces command. The missile can help the troops to completely destroy or take out enemy air defence sites or similar high-value targets.
- ‘Pralay’ is powered with a solid propellant rocket motor and many new technologies. The missile has a range of 150-500 kilometres and can be launched from a mobile launcher. The missile guidance system includes a state-of-the-art navigation system and integrated avionics.
Global Economy on a steep Slowdown: The most recent World Bank study indicates that after nearly a year of uncertainty in 2022, the global economy is in a severe downturn. The World Bank report noted that the COVID-19 pandemic’s repercussions are still being felt today in the form of education losses, worldwide inflation, supply chain disruptions, and other issues on a global scale.
Global Economy on a steep Slowdown: Key Points
- The global economy is currently experiencing its steepest slowdown after a post-recession recovery since 1970, according to the report 2022 in Nine Charts, which also discussed growth.
- Consumer confidence around the world has already declined far more drastically than it did in the years preceding previous global recessions.
- The economy of the three biggest economies in the world—the United States, China, and the euro zone—have been rapidly slowing.
- It went on to say that given the situation, even a slight blow to the world economy over the course of the ensuing year may send it into a recession.
- In its study, the World Bank also noted that the escalating intensity of natural disasters continues to shed light on the social and economic effects of climate change.
Findings of the Report by World Bank
The Ukraine war, high inflation, supply chain disruptions, and the global economic downturn all worked together to drive significant price increases for many agricultural products and inputs, such as fertilisers, according to the report, which claimed that 2022 was marked by a marked increase in food insecurity around the world. According to the research, the Covid-19 pandemic caused the biggest setback to attempts to reduce global poverty in decades, and the recovery has been incredibly uneven. Additionally, it noted that the debt crisis affecting developing nations has worsened over the previous year, with almost 60 percent of the world’s poorest nations either in debt distress or at risk of it.
The epidemic and vulnerabilities in the real estate market had caused the World Bank to lower its China growth prediction for the year. The World Bank announced that it had reduced its projection from the 4.3% expected in June to 2.7% in an official statement. Additionally, it decreased the prediction for the next year from 8.1% to 4.3%.
IPL surpasses $10 billion valuation: The Indian Premier League (IPL), whose total valuation has surpassed $10 billion, has evolved into a decacorn. According to a D and P Advisory assessment released on Tuesday, the league is currently valued at $10.9 billion. Notably, it has increased by an astonishing 75% since 2020.
IPL surpasses $10 billion valuation: Key Points
IPL’s expansion has been aided by lucrative agreements with industry titans in media. A company valued at more than $10.0 billion is referred to as a decacorn. In less than 15 years since its beginning, the IPL has reached the milestone.
Months after India won the first ICC T20 World Cup, the competition’s first edition was contested in 2008. Since then, the IPL has become steadily stronger with well-known athletes from all over the world taking part.
IPL attains significant Milestone: Report
The IPL reached the important milestone after selling its media rights for the years 2023 to 2027, according to a research by D and P Advisory titled “Beyond 22 Yards.” The league recorded a three-fourth increase in revenue over the previous cycle when it sold its media rights for $6.2 billion. The rights were divided among numerous broadcasters for the first time.
IPL: Second Biggest Sports League Worldwide
The IPL, on the other hand, is the second-biggest sports league worldwide in terms of money made from broadcasting fees every game. $12 million is expected to be made from broadcasting each game. In terms of revenue per game, only the National Football League (NFL) earns more than the Indian T20 league ($17 million). Notably, in the upcoming years, the quantity of IPL games will gradually rise.
95th Academy Awards: The official entry of India for the International Feature film category of the 2023 Academy Awards or Oscars is the Gujarati-language Chhello Show (The Last Show), which has been shortlisted. Meanwhile, the track Naatu Naatu from SS Rajamouli’s RRR has been shortlisted in the Best Original Song Category. The Academy announced the list of shortlisted entries in 10 categories. The nominations for the Academy Awards will be announced on January 24.
India’s history with the Oscar entries for the last few years were – Koozhangal, Jallikattu, Gully Boy, Village Rockstars, Newton, Visaranani, all of which have failed to make the Oscar shortlist. The only Indian films to have been nominated for an Oscar so far have been Mother India, Salaam Bombay and Lagaan.
Some important points:
- As far as RRR’s best song category is concerned, 15 songs have been shortlisted from among 81 tunes. Other songs include ‘Nothing Is Lost’ from ‘Avatar: The way Of Water’, ‘Lift Me Up’ from ‘Blank Panther: Wakanda Forever’, ‘Hold My Hand’ from ‘Top Gun: Maverick’ among others.
- The Academy of Motion Picture Arts and Sciences unveiled its shortlists for the 10 Oscar categories that will be presented in 2023, including documentary and international features, as well as a documentary short subject, makeup and hairstyling, original score, original song, animated short, live-action short, sound, and visual effects.
- 15 international feature films advanced out of the films from 92 countries and regions that were eligible. The list includes Close (Belgium), Decision to Leave (South Korea), All Quiet on the Western Front (Germany), Alejandro G. IÃ±Ã¡rritu’s Bardo (Mexico) and Joyland, which gives Pakistan its first shortlisted film in the category.
Blind T20 World Cup 2022: For the third time in a row, the national blind cricket team of India won the T20 World Cup for the Blind. At Bengaluru’s M Chinnaswamy Stadium, they triumphed over Bangladesh with a commanding total of 120 runs. The Indian captain, Ajay Kumar Reddy elected to bat after winning the toss, and his side eventually set a challenging total of 277 runs for Bangladesh. The Bangladeshi team could only muster 157 runs for three in return.
Blind T20 World Cup 2022: Prize Money And Awards Winners List
Sunil Ramesh won Man of the Match award in the championship. He was also given the B3 category’s Man of the Series award. India, the tournament’s victors and unbeaten team, won Rs. 3 lakh as prize money, while Bangladesh took second place and received Rs. 1.5 lakh. Ajay won the title of Man of the Series in the B2 division. In the B1 division, Mohammed Mahmud Rashid of Bangladesh was named Man of the Series.
Man of the Match in Final: Sunil Ramesh (IND)
- Man of the Tournament in B3 category: Sunil Ramesh (IND)
- Man of the Tournament in B2 Category: Ajay Kumar Reddy (IND)
- Man of the Tournament in B1 Category: Mohammed Mahmud Rashid (BAN)
Blind T20 World Cup 2022: Prize Money:
- Winners: Rs 3 Lakh
- Runners-up: Rs 1.50 Lakh
National Mathematics Day 2022: On December 22, the country as a whole observes National Mathematics Day. Srinivasa Ramanujan’s contributions are recognised and honoured on National Mathematics Day. Srinivasa Ramanujan, the Indian mathematical genius, was born on this day in 1887. The nation commemorates Ramanujan’s 135th birthday this year. The main objective behind the celebration of National Mathematics Day is to make people aware of the development of mathematics and its importance in the growth of humanity.
National Mathematics Day: History
The day was declared on February 26, 2012, the 125th anniversary of the birth of Srinivasa Ramanujan, an Indian mathematician, by the country’s then-prime minister (22 Dec 1887- 26 Apr 1920). 2012 was also observed as National Mathematics Year. Ramanujan had a wealth of ideas that have transformed and reshaped 20th-century mathematics. These ideas continue to shape the mathematics of the 21st century.
Important points on life and work of the Srinivasa Ramanujan:
- Srinivasa Ramanujan was born to a Brahmin Iyengar family on December 22, 1887, in Erode, Tamil Nadu. He had developed a liking for mathematics at a very young age, mastering trigonometry at 12 and was eligible for a scholarship at the Government Arts College in Kumbakonam.
- In 1903, he attended the Government College in Kumbakonam. Due to his dislike for non-mathematical subjects, he failed exams there. He had enrolled in Madras’ Pachaiyappa College at the age of 14.
- In 1912, Ramanujan started working as a clerk in the Madras Port Trust. There, his mathematical genius was recognised by some of his colleagues and one of them referred him to Professor GH Hardy of Trinity College, Cambridge University. He met Hardy in 1913, after which he went to Trinity College.
- In 1916, Ramanujan received his Bachelor of Science (BSc) degree. He went on to publish several papers on his subject with Hardy’s help. The two even collaborated on several joint projects.
- In 1917, Ramanujan was chosen to join the London Mathematical Society. Next year, he was elected to the prestigious Royal Society for his research on Elliptic Functions and theory of numbers. He was also the first Indian to be elected a Fellow of the Trinity College.
- Despite not receiving any formal training in pure maths, Ramanujan made impactful contribution to the discipline in his short life. His areas of work include infinite series, continued fractions, number theory and mathematical analysis.
- He also made notable contributions like the hypergeometric series, the Riemann series, the elliptic integrals, the theory of divergent series, and the functional equations of the zeta function. He is said to have discovered his own theorems and independently compiled 3,900 results.
- Ramanujan went back to India in 1919. He passed away on April 26 of the following year as a result of his failing health. Just 32 years old, he was. His biography ‘The Man Who Knew Infinity’ by Robert Kanigel depicts his life and journey to fame.
- A film of the same name was released in 2015 in which British-Indian actor Dev Patel played Ramanujan. The 2015 movie ‘The Man Who Knew Infinity” was released based on Srinivasa Ramanujan’s biography. The film shed light on Ramanujan’s childhood in India, his time in Britain, and his journey to becoming the great mathematician.
Note in Circulation Rise 8% Annually to Rs 32 Lakh Crore: The note in circulation (NiC), according to Finance Minister Nirmala Sitharaman, increased by 7.98% annually to reach Rs 31.92 lakh crore as of December 2, 2022. The demand for currency depends upon several macroeconomic factors, including economic growth and level of interest rates, she said.
More About This: Cash Is Still King:
The amount of money in circulation has increased to a record high of Rs 32 lakh crore six years after demonetisation, demonstrating that cash is still Indians’ preferred method of payment. Compared with the pre-demonetisation period, Since November 4, 2016, when it was Rs 17 lakh crore, it has grown by a staggering 72%. The demonetisation (of Rs 500 and Rs 1,000 notes that ceased to be legal tender) was announced by Prime Minister Narendra Modi on November 8, 2016, with the aim of reducing the circulation of black money in the economy, among other objectives.
Key Points Regarding This:
- While comparing absolute numbers, it is important to compare them with the GDP, as it is the key indicator of measuring cash in the system in tune with economic growth. A back-of-the-envelope calculation shows that at present, currency in circulation is at 13 per cent of GDP compared to 14 per cent last year.
- • The Reserve Bank of India (RBI) injected money into the system following the Covid-19 pandemic, bringing the figure down to 13% in 2020. Incidentally, the cash in circulation as a percentage of GDP was at 12 per cent in 2016.
- While the cash in circulation has gone up, digital payments have also been on the rise. According to data from the banking regulator, the RBI-Digital Payments Index, which tracks digital payments, rose 29.08 per cent to hit an all-time high of 349.3 points in March 2022 from 270.59 points a year ago.