Daily GK Update- 7th Dec, 2022

NATIONAL UPDATES:

1. Justice Tashi Rabstan appointed as acting chief justice of J&K High Court:The Government of India has appointed Justice Tashi Rabstan as the Acting Chief justice of the High Court of Jammu and Kashmir and Ladakh. He has replaced incumbent Chief Justice Ali Mohd Magrey, who retired on 7th December 2022. Justice Rabstan had enrolled as an Advocate on 6th March 1990 in Bar Council of J&K. He remained as Standing Counsel for Ladakh Autonomous Hill Development Council, Leh from 1997 till 2005.

Retirement age of-

• SC Judges: 65
• HC Judges: 62

In a notification, the Department of Justice in the Law Ministry said Tuesday the president is pleased to appoint Justice Tashi Rabstan, senior-most judge of the High Court of Jammu & Kashmir and Ladakh, to perform the duties of the office of the Chief Justice of that HC with effect from December 8 consequent upon the retirement of Justice Ali Mohd Magrey. While Supreme Court judges retire on attaining the age of 65 years, high court judges retire at 62

2. Narendra Singh Tomar inaugurated National Conference on Soil Health: Union Agriculture and Farmers Welfare Minister Narendra Singh Tomar has inaugurated Conference on Soil Health Management for Sustainable Farming. In two phases, more than 22 crore Soil Health Cards have been distributed to farmers across the country. So far, 499 permanent Soil Testing Laboratories and 2395 Village-level Soil Testing Laboratories have been established in the Country.Virendra Kumar has inaugurated the SHILP SAMAGAM-2022 in New Delhi. G Kishan Reddy inaugurated the 11th edition of the Manipur Sangai Festival. Kishan Reddy inaugurated the sixth edition of Ganga Utsav 2022 in New Delhi. Rajnath Singh launched ‘Maa Bharati Ke Sapoot’ website Sarbananda Sonowal inaugurated ‘Ayush Utsav’ in Kashmir

3. India’s coal production increased by 11.66 % to 75.87 mn tonnes in Nov: India’s total coal production has increased by 66 percent to 75.87 Million Tonnes (MT) from 67.94 MT during November 2022 as compared to November 2021. According to the coal ministry data, in November 2022, Coal India Ltd (CIL) registered a growth of 12.82 percent, whereas Singareni Collieries Company Limited (SCCL) and other captive mines registered a growth of 7.84 percent and 6.87 per cent respectively. Out of the top 37 mines in coal production as many as 24 mines produced more than 100 percent and production of five mines stood between 80 and 100 percent in terms of output. Coal-based power generation also registered a growth of 16.28 per cent in November as compared to last year.

4. 7 December – Armed Forces Flag Day: Armed Forces Flag Day is observed every year on 7 December to honour the martyrs, veterans, and serving personnel of the Indian military. On 28th August 1949, the Ministry of Defence decided to celebrate this day, to honor the soldiers, sailors, and airmen. The day has been marked every year since 1949 to celebrate the valiant efforts undertaken by military personnel to safeguard the country’s borders and raise funds to ensure their and their family’s well-being. The welfare schemes are funded by the Armed Forces Flag Day Fund (AFFDF) which was instituted Government of India.

INTERNATIONALUPDATES:

1. Three Indian billionaires on Forbes Asia Heroes of Philanthropy list: Three Indian billionaires - Gautam Adani, Shiv Nadar, and Ashok Soota were listed in the 16th edition of Forbes Asia's Heroes of Philanthropy list. Gautam Adani (Adani chairman): For having pledged ₹60,000 crores ($7.7 billion) when he turned 60 in June 2022. Shiv Nadar (HCL co-founder & chairman): For having channelled close to $1 billion of his wealth to various social causes. Ashok Soota (Happiest Mind chairman): Pledged ₹600 crore to the medical research trust Billionaires Gautam Adani, HCL Technologies's Shiv Nadar, and Happiest Minds Technologies' Ashok Soota are the three Indians who have been named in the 16th edition of Forbes Asia’s Heroes of Philanthropy list which was released on Tuesday. Gautam Adani, 60, is the founder of conglomerate Adani Group, the largest port operator in India. The group's interests span infrastructure, commodities, power generation and transmission and real estate. He has surged to prominence this year, as an eye-catching leap in his fortune made him one of the richest people on the planet in a matter of months.

2. International Civil Aviation Day 2022: 7th December: International Civil Aviation Day is observed on every year on December 7 to promote the importance of international civil aviation. 2022 theme: Advancing Innovation for Global Aviation Development The theme will remain the same until the year 2023. In 1996, the UN General Assembly has formally recognised December 7 as International Civil Aviation Day. Safety standards in international aviation are maintained by the ICAO (an autonomous UN body). International Civil Aviation Day is celebrated on December 7, every year. The day is marked as a global observance and not a public holiday. Every year, this day is celebrated to promote awareness of the importance of international civil aviation organisations in international air travel. Safety standards in international aviation are maintained by the ICAO, an autonomous UN body.

3. ‘Goblin Mode’ is Oxford’s Word of the Year for 2022: Oxford University Press (OUP), publishers of Oxford English Dictionary has selected “goblin mode” as the 2022 Oxford word of the year. It refers to a type of behavior which is an unapologetically self-indulgent, lazy, slovenly, or greedy, typically in a way that rejects social norms or expectations. For the first time, a group of lexicographers at OUP gave people a choice of: “Goblin mode,” “metaverse,” and “#IStandWith”. According to Oxford University Press (OUP), publishers behind the Oxford English Dictionary, the slang term refers to a type of behavior which is “unapologetically self-indulgent, lazy, slovenly, or greedy, typically in a way that rejects social norms or expectations” – traits that may have become familiar to many during lockdown. “Given the year we’ve just experienced, ‘Goblin mode’ resonates with all of us who are feeling a little overwhelmed at this point. It’s a relief to acknowledge that we’re not always the idealized, curated selves that we’re encouraged to present on our Instagram and TikTok feeds,” he said.

4. AGEL becomes world’s largest wind-solar hybrid power developer: Adani Green Engergy Limited (AGEL) has commissioned a 450 MW wind-solar hybrid power plant in Jaisalmer, Rajasthan. With the new hybrid plant, AGEL has become the largest operational hybrid power generation capacity of 1,440 MW. AGEL has a total operational generation capacity of 7.17 GW, making it the largest wind-solar hybrid power farm developer. According to the company, the plant has Power Purchase Agreements (PPA) with SECI at Rs 2.67/kwh for 25 years. Adani Green stated on Monday that it has commissioned a 450 MW wind-solar hybrid power plant in Rajasthan. With the new hybrid plant in Jaisalmer, Adani Green Energy has the largest operational hybrid power generation capacity of 1,440 MW. AGEL has a total operational generation capacity of 7.17 GW, making it the largest wind-solar hybrid power farm developer. 

 

OTHER UPDATES:

 

SPORTS

1. Mirabai clinches silver at Weightlifting World Championships 2022: Tokyo Oylmpic medallist, Mirabai Chanu has secured the silver medal in 49kg category, at the ongoing 2022 World Weightlifting Championships, held in Bogotá, Colombia. She managed to lift a total weight of 200kg (87kg in snatch and 113kg in 'clean and jerk'). She lost to Jiang Huihua from China, who won the gold with a total effort of 206kg (93kg+113kg). While Hou Zhihua settled for bronze medal with the total lift of 198kg (89kg+109kg).

2. Mirabai clinches silver at Weightlifting World Championships 2022:Star Indian weightlifter Mirabai Chanu was not at her best due to a wrist injury but still won a silver medal at the World Championships with a total lift of 200kg, here.The Tokyo Olympic silver medallist, competing in 49kg category, managed to lift 87kg in snatch and in 'clean and jerk' her best effort was a lift of 113kg, on Tuesday night.The Indian finished behind China's Jiang Huihua, who won the gold with a total effort of206kg (93kg+113kg) while her compatriot and Tokyo Olympics champion Hou Zhihua 198kg (89kg+109kg) took home the bronze medal.

 

3. Cristiano Ronaldo signs 200-million euro contract with Saudi club Al-Nassr: Cristiano Ronaldo (Portuguese) has signed two-and-a-half year agreement for 200 million euros each season with Saudi Arabian club Al-Nassr Football Club. Manchester United has terminated his contract after a controversial bombshell interview with broadcaster Piers Morgan. Al Nassr Football Club was formed in 1955. The club plays its home games at the Mrsool Park. Al-Nassr FC Chairman: Musalli Al Muammar Amid the Manchester United recently terminating his contract, Portuguese football star Christiano Ronaldo has joined Saudi Arabian club Al-Nassr on a two and a half year deal worth 200 million euros per season, confirmed renowned Spanish outlet Marca on 5 December.

 

BANKING AND FINANCE

1. RBI increases Repo rate by 35 bps to 6.25%: RBI has increased the repo rate by 35 basis points (the fifth increase since May 2022) to 6.25%. Aim: To bring down the inflation to a tolerable limit. While, RBI has lowered the GDP growth projection of India for the current fiscal at 6.8% from 7%.

CPI inflation forecast for FY23 retained at 6.7%.

Size of forex reserves has increased to 561.2 billion as on Dec 2.

FDI inflows rose to $22.7 billion in Apr to Oct 2022

SDF : 6.00%, MSF : 6.50%, Bank Rate : 6.50%

As we come to the end of yet another turbulent year, the global economy is still marred by profound shocks and unprecedented uncertainty. Mixed signals are emanating from the geopolitical situation and financial market volatility. In the beginning of this year (2022), just as the COVID-19 pandemic was receding, the war in Ukraine overwhelmed the world in a black swan moment and fundamentally altered the global economic outlook. Surges in food and energy prices and shortages in key staples have severely affected the poorer sections across the world.

2.  SBI's personal loan portfolio crosses Rs 5 lakh cr mark: State Bank of India (SBI) has surpassed the Rs 5 lakh crore mark in the personal banking advances as on November 30, 2022. The lender has marked the first Rs 1 lakh crore mark in January 2015, followed by Rs 2 lakh crore (January 2018), Rs 3 lakh crore (August 2020), and the Rs 4 lakh mark (November 2021). Personal banking advances mainly comprise personal loan, pension loan, auto loan, education loans, personal-gold loan, and other personal loan products. The bank’s loan portfolio includes auto loans, education loans, gold loans and other products apart from mortgages. In October, the bank announced that its home loan portfolio had crossed Rs 6 lakh crore. State Bank of India (SBI) has crossed the Rs 5-lakh-crore mark in personal banking advances. SBI added the last Rs 1 lakh crore in 12 months.

3. Spice Money partners with Axis Bank for financial inclusion in rural India: Spice Money has partnered with Axis Bank to facilitate opening of instant, zero balance savings or current accounts for rural citizens through its Adhikari network. Aim: To bridge the rural-urban divide and bring financial inclusivity by providing access to banking products to the last mile at their doorstep A regulated entity under RBI, the fintech firm delivers various financial services such as cash deposit and withdrawal, and insurance premium to the rural masses.

AWARDS AND HONOURS

1. Indian-origin, Veena Nair won Prime Minister's prize in Australia: Indian-origin teacher, Veena Nair was honoured with the 2022 Prime Minister's Prize for Excellence in Science Teaching in secondary schools in Australia She is ViewBank College's Head of Technology and STEAM project leader She was awarded for demonstrating practical application of STEAM to students, and how they can use their skills to make a real impact in the world. She started her teaching career in Mumbai, where she provided computers to low socio-economic schools. Melbourne-based Veena Nair, who is ViewBank College's Head of Technology and STEAM project leader, has been awarded for demonstrating practical application of STEAM to students, and how they can use their skills to make a real impact in the world.

OBITUARIES

1. Economist and former Union minister Yoginder K Alagh passes away: Former Union minister and eminent economist Yoginder K Alagh has been passed away at the age of 83. He taught economics at prestigious Indian and foreign universities, including IIM-Calcutta. He was an associate professor at Sardar Patel Institute of Economic and Social Research, Ahmedabad. He has also worked as the vice-chancellor of JNU, Delhi. From 1996-98, he also served as minister of power, planning, and programme and served as a member of Planning Commission. "He was not keeping well for the last couple of months. But his condition deteriorated in the last 20-25 days. He passed away at home. His last rites will be held this evening at the Thaltej crematorium," The Indian Express quoted his son Professor Munish Alagh as saying.