Weekly Current Affairs 16th December- 22nd December 2021

FINANCE AND BANKING

• RBI releases PCA framework for large NBFCs
  • RBI recently introduced a prompt corrective action (PCA) framework for large non-banking financial companies (NBFCs) with effect from October 2022.
  • It will put restrictions on NBFCs whenever vital financial metrics dip below the prescribed threshold.

• RBI allows SFBs as Agency Bank to conduct Govt Business
  • RBI recently allowed Scheduled payments banks and scheduled small finance banks to conduct Government agency business.

• SEBI creates ‘ALERTs’ committee for early detection of market anomalies
  • SEBI has recently created an Advisory Committee for Leveraging Regulatory and Technology Solutions (ALeRTS) to enhance technological capabilities and explore suitable technology solutions for the early detection of market anomalies.
  • It is a 7-member committee headed by Madhabi Puri Buch.

ECONOMY

• ADB projected growth forecast for 2021-2022 for India at 9.7%
  • The Asian Development Bank has lowered its 2021 growth forecast for India to 9.7 per cent from 10 per cent.
  • However, it left the 2022 growth forecast unchanged at 7.5 per cent.

• ADB approves $112 million loan to establish Assam Skill University
  • The Asian Development Bank (ADB) recently approved a $112 million loan for the establishment of the Assam Skill University (ASU) to strengthen skills education and training.

• Wholesale inflation hikes to 14.23% in November
  • Inflation at the Wholesale level has reached 14.23% in November.
  • Wholesale Price-based Index (WPI) inflation base year is 2011-12. Also, the spike is highest since April 2005.

NATIONAL

• IIT Delhi, Indian Air Force join hands to find indigenous solutions towards various defense-related projects
  • IIT Delhi signed an MoU with the Indian Air Force (IAF) for various developmental projects to support the requirements of the IAF.
  • The joint partnership between the IAF and IIT Delhi aims to accelerate IAF’s indigenisation efforts for achieving self-reliance.

• Raising legal age of marriage for women to 21 years
  • A bill, Prohibition of Child Marriage (Amendment) Bill, 2021 that seeks to fix 21 years as the uniform age of marriage for women and men was introduced in Lok Sabha.
  • The bill seeks to amend seven personal laws — the Indian Christian Marriage Act; the Parsi Marriage and Divorce Act; the Muslim Personal Law (Shariat) Application Act; the Special Marriage Act; the Hindu Marriage Act; and the Foreign Marriage Act.

• Askot wildlife sanctuary declared eco-sensitive zone
  • Established to protect the endangered flagship species Musk Deer and its habitat, the Askot Wildlife Sanctuary in Uttarakhand’s Pithoragarh has been declared as an Eco-Sensitive Zone (ESZ).
  • As a result, the sanctuary area is now limited from original area 599.93 square kilometers to only 454.65 square km.

INTERNATIONAL

• Malta becomes first European nation to approve cannabis for personal use
  • Malta became the first European country to allow limited cultivation and possession of cannabis for personal use.
  • The law, which was approved by 36 votes to 27, allows adults in Malta to possess up to seven grams (0.25 oz) of cannabis and grow up to four plants.

• Karl Nehammer sworn in as Austria's chancellor
  • Karl Nehammer was sworn in as Austria's chancellor. He is Austria's third chancellor in two months.
  • Nehammer, 49, has been Austria's interior minister since early 2020. He also is taking over as leader of the conservative Austrian People's Party, which Kurz led to election wins in 2017 and 2019.

• Gabriel Boric is Elected Chile’s Youngest President
  • Chileans elected Gabriel Boric as their next president. At 35, Mr. Boric will be the nation’s youngest leader.
  • Outgoing President is Sebastian Pinera.

STATES

• Punjab CM gives Jagannath Rath Yatra ‘state festival’ tag
  • Punjab chief minister Charanjit Singh Channi declared the annual procession ‘Shri Krishan Balram Rath Yatra’ as a state festival.
  • The CM also announced a grant of ₹2.51 crore for the ISKCON Temple in Ludhiana.

• Haryana Introduces ‘Khel Nursery Scheme’
  • Haryana state government has launched the 'Khel Nursery Scheme 2022-23' to promote sports in the state.
  • Under the scheme, sports nurseries will be established in government, private educational institutions, and private sports institutions, and applications are being accepted until January 20, 2022.

• Goa Liberation Day 2021
  • Goa is marking its 60th Liberation Day on December 19, 2021.
  • The day is celebrated to recognise the achievements of Goa in the tourism sector and also for being the highest per capita income among all the states and Union Territories in India. The state has its own history that is the story of its liberation.

REPORTS AND INDEXES

• India jumps to 4th place among countries most affected by spam calls: Truecaller
  • Caller-identification application Truecaller released a new report about countries getting most numbers of spam calls.
  • The top three countries in the world with maximum spam based calls were Brazil, Peru and Ukraine.
  • India has moved from the 9th position to the 4th spot in a list of countries that received the most number of spam calls.

• 2021 Wizikey News Score Ranking
  • Wizikey has come up with 2021 Wizikey News Score Ranking.
  • As per the ranking, Reliance Industries Ltd is India’s most-visible corporate in the media. State Bank of India is a close second on the ranking, followed by Bharti Airtel, Infosys and Tata Motors.

SCIENCE AND TECHNOLOGY

• For first time in history, NASA spacecraft touches Sun
  • For the first time in history, a spacecraft has touched the Sun. NASA's Parker Solar Probe has now flown through the Sun's upper atmosphere -- the corona -- and sampled particles and magnetic fields there.

AGRICULTURE AND RURAL DEVELOPMENT

• Andhra Pradesh ties-up with UN-FAO & ICAR for sustainable agriculture
  • The Food and Agriculture Organisation (FAO) of the United Nations has signed an agreement with the Andhra Pradesh Government.
  • FAO will train the farmers in good farm management practices and sustainable agricultural methods.

DEFENCE

• India successfully test-fires new generation Agni Prime missile off Odisha coast
  • India successfully test-fired the Agni Prime missile off the coast of Odisha in Balasore.
  • Agni-P is a new generation advanced variant of Agni class of missiles. It is a two-stage canisterised missile with range capability between 1,000 and 2,000 km.

• HAL signs Rs 2,400 cr contract with BEL for supply of avionics for LCA
  • Hindustan Aeronautics Limited awarded a Rs 2,400 crore contract to Bharat Electronics Limited for the manufacture and supply of 20 types of airborne electronic systems for the LCA Tejas Mk1A fighter aircraft programme.

• Mormugao, a stealth destroyer, sails for maiden sea trials on Goa Liberation Day
  • Indian Navy's indigenous stealth guided-missile destroyer Mormugao went for her maiden sea sortie on the occasion of Goa Liberation day (19 Dec).
  • It is second indigenous stealth destroyer of the Project 15B class.

EVENTS

• 7th edition of India International Science festival
  • Union Minister of State (Independent Charge) Science & Technology, Dr Jitendra Singh inaugurated the 7th edition of India International Science Festival at Panaji, Goa.
  • The theme of 4-day science festival is ‘Azadi Ka Amrit Mahotsav’ - "Celebrating Creativity, Science, Technology and Innovation for a prosperous India".

• Time’s Athlete of the Year 2021
  • Simone Biles was named Time’s Athlete of the Year 2021.
  • The world’s most decorated gymnast was hailed for putting her mental health first when she withdrew from four event finals at the Tokyo Olympics.

• Bhutan confers its highest civilian award on PM Modi
  • Prime Minister Narendra Modi has been conferred with the highest civilian award of Bhutan, Ngadag Pel gi Khorlo, on the occasion of the 114th National Day of Bhutan which commemorates the Coronation of His Majesty the First King of Bhutan, Druk Gyalpo Ugyen Wangchuck on December 17, 1907.

• World's Most Admired 2021: YouGov
  • A list of World's Top 20 Most Admired Men is released in a survey carried out by data analytics company YouGov.
  • Barack Obama retains his position as world’s most admired man this year. Bill Gates and Xi Jinping are at 2nd and 3rd position.
  • Indian PM Narendra Modi is at 8th position. Sachin Tendulkar (12th), Shah Rukh Khan (14th), Amitabh Bachchan (15th) and Virat Kohli (18th) are also in the list.

AWARDS AND REWARDS

• India inducts 148 athletes in first list of TOPS athletes for 2024 Games
  • A total of 148 athletes, including 20 new inductees, in seven Olympic disciplines and six Paralympic disciplines have been identified for support under the Target Olympic Podium Scheme.
  • The MOC approved lists in Cycling, Sailing, Shooting, Swimming, Table Tennis, Weightlifting and Wrestling as well as Para Sports (Archery, Athletics, Badminton, Shooting, Swimming, Table Tennis).

• Sports Journalists' Federation of India to honour Gavaskar with medal
  • The Sports Journalists' Federation of India (SJFI) decided to confer the prestigious 'SJFI Medal' to legendary cricketer Sunil Gavaskar.
  • Neeraj Chopra, who won India's lone gold medal at the Tokyo Olympics, was adjudged the SJFI Sportsman of the Year while weightlifter Mirabai Chanu, who won a silver at the quadrennial extravaganza, was voted as the Sportswoman of the Year.

• Commonwealth Weightlifting Championships 2021
  • India ended the Commonwealth Weightlifting Championships 2021 with 16 medals – four gold, seven silver, and five bronze medal at Tashkent.
  • India had sent 19 representatives in different categories to compete this year.
  • The four Commonwealth gold medallists – Jeremy Lalrinnunga, Achinta Sheuli, Ajay Singh, Purnima Pandey – have qualified directly for the 2022 Games in Birmingham.