Current Affairs - December, 2022

1 .

Which company has acquired the Poonawalla Housing Finance (PHFL) at â‚¹3,900 crore valuation?

A)

TPG

B)

CVC

C)

LGP

D)

KKR & Co. Inc.

Correct Answer : TPG

US-based private equity major "TPG" has agreed to acquire the housing finance arm of Adar Poonawalla-led Poonawalla Fincorp at â‚¹3,900 crore valuation.

* TPG also said it will infuse an additional equity of up to â‚¹1,000 crore in Poonawalla Housing Finance in the near term.

* In its press release, TPG said the existing management team led by Manish Jaiswal will continue to carry out the operations.

* Poonawalla Housing Finance (PHFL) currently has over 153 branches spread across 20 states. At the end of September quarter, the company had assets under management (AUM) worth â‚¹5,612 crore. It reported a profit after tax (PAT) of â‚¹33 crore in the September quarter, with a 33% year-on-year growth.

* “As India’s leading affordable housing finance provider, PHFL is uniquely positioned to grow in the fast-expanding affordable housing sector, which we believe is one of the most resilient asset classes across interest rate cycles,” said Puneet Bhatia, co-managing partner of TPG Capital Asia.

* Poonawalla Housing Finance joins TPG’s portfolio of financial services companies in Asia, which includes Kakao Bank, Singlife, Five Star Business Finance, and Du Xiaoman Financial.

* “We have full confidence that it (PHFL) will continue to make a strong contribution to the affordable housing sector with our new partnership with TPG. As a global leading investment firm, TPG’s experience in building and supporting leading financial services companies will add greater value to PHFL,” said Adar Poonawalla, chairman of Poonawalla Group.

* PHFL currently offers home loans starting at 9.55% per annum. It has disbursed over 50,000 loans till date and offers credit for home construction, extension, improvement and balance transfer..

Source : Business Insider

Published On : December 16, 2022

2 .

Which country be the first country to auction spectrum for satellite communication?

A)

Japan

B)

India

C)

China

D)

Russia

Correct Answer : India

India will be the first country to auction spectrum for satellite communication, and it should be designed to attract investments in the sector, Telecom Regulatory Authority of India (Trai) chairman "PD Vaghela" said 13th Dec 2022.

* Speaking at a Broadband India Forum summit on SatCom, PD Vaghela said Trai will soon make recommendations to make permissions required for satellite communication from various ministries -- Information and Broadcasting, Space and Telecom -- seamless to enhance ease of doing business in the sector.

* He also said Trai has received a reference from the Department of Telecommunication for the spectrum required to be put to auction and associated aspects of satellite-based communication.

* The regulator is yet to come up with a consultation paper on the spectrum auction as per the standard process meant for satellite communication.

About satellite communication :

* Satellite communication refers to any communication link that involves the use of an artificial satellite in its propagation path.

* Satellite communications play a vital role in modern life.

* There are over 2000 artificial satellites in use.

* They can be found in geostationary, Molniya, elliptical, and low Earth orbits and are used for traditional point-to-point communications, mobile applications, and the distribution of TV and radio programs.

* Satellite communications tend to use high-frequency signals.

TRAI is in discussion with experts and regulators worldwide for a suitable model and the consultation paper will be floated after those discussions are over. While telecom operators have proposed to allocate spectrum through an auction for satellite communication, satellite industry players have opposed it..

Source : NDTV

Published On : December 16, 2022

3 .

G-7 Agrees _______ Billion Energy Deal with Vietnam to Cut Emissions.

A)

$10.5 billion

B)

$12.5 billion

C)

$15.5 billion

D)

$18.5 billion

Correct Answer : $15.5 billion

Vietnam has reached a $15.5 billion agreement with a group of nine rich industrialised countries that would help the Southeast Asian nation cut its greenhouse gas emissions by shifting away from coal to renewable energy.

* In an announcement made on Wednesday, the Group of Seven (G7) major economies, along with Norway and Denmark, said the aim is to help Vietnam reduce its emissions to "net zero" by 2050.

* The announcement comes as Vietnamese Prime Minister Pham Minh Chinh is visiting Brussels to attend the ASEAN-EU Commemorative Summit marking 45 years of diplomatic ties between the two regional blocs.

* "Net zero", is a target that experts say needs to be met globally to cap global warming at 1.5 degrees Celsius (2.7 degrees Fahrenheit).

* The Just Energy Transition Partnership with Vietnam is among a series of agreements that developing and rich nations are negotiating.

* The first such deal was signed with South Africa last year(2021), and a similar agreement was reached with Indonesia last month.

* "Vietnam is a dynamic, emerging economy at the heart of Southeast Asia," British Prime Minister Rishi Sunak said.

* "The investment we are making today means the country can cut its emissions while simultaneously creating new jobs and growth."

* The UK, Canada, France, Germany, Italy, Japan and the United States comprise the G-7..

Source : TRT World

Published On : December 16, 2022

4 .

Who has signed a memorandum of understanding (MoU) with the University of Medical Sciences, Cuba?

A)

National Institute Of Ayurveda

B)

Gujarat Ayurved University

C)

Institute of Teaching and Research in Ayurveda

D)

All India Institute of Ayurveda (AIIA)

Correct Answer : All India Institute of Ayurveda

The All India Institute of Ayurveda (AIIA) has signed a memorandum of understanding (MoU) with the University of Medical Sciences, Cuba, and extended the agreement with Rosenberg European Academy of Ayurveda (REAA), Germany, for five more years to take forward collaborative programmes.

* The agreements were signed on the sidelines of the 9th World Ayurveda Congress and Arogya Expo.

* The MoU with Havana-based University of Medical Sciences was signed between Cuban Ambassador to India "Alejandro Simancas Marin" and Dr Tanuja M Nesari, the director of AIIA.

* The extension of collaboration with REAA was initiated by the academy's director Mark Rosenberg and Dr Nesari.

* With these collaborations, Delhi-based AIIA, an autonomous organisation under the Ministry of AYUSH, has 15 international partners and 35 national partners under its collaborative activities, Dr Nesari said.

* These partnerships come at a time when there is a big acceptance of Ayurveda and other traditional wellness systems the world over. The core objective is to promote advanced scientific research, evidence-based studies and clinical trials, exchange programmes and patient care, Dr Nesari said.

* The AIIA has struck agreements with the best partners in the world, including the Harvard Medical School, while an agreement with the London School of Hygiene and Tropical Medicine (LSHTM) has also been inked for clinical trials on the efficacy of 'ashwagandha' (withania somnifera) and 'guruchi' (tinsoporacordifolia) in treating Long Covid, she said.

* The AIIA is seeking to promote futuristic Ayurveda by bringing a synergy between traditional wisdom and modern tools and technology, Dr Nesari said.

* The AIIA and REAA had entered into a MoU in September, 2017 with a validity of five years, which has been extended to 2027, it was stated..

Source : Business Standard

Published On : December 16, 2022

5 .

Who inaugurated the 7th India Water Impact Summit (IWIS 2022) at Dr. Ambedkar International Centre in New Delhi on 15th December 2022?

A)

Vasundhara Raje

B)

Prahlad Singh Patel

C)

Kiren Rijiju

D)

Gajendra Singh Shekhawat

Correct Answer : Gajendra Singh Shekhawat

Jal Shakti Minister "Gajendra Singh Shekhawat" will inaugurate the 7th India Water Impact Summit (IWIS 2022) at Dr. Ambedkar International Centre in New Delhi on 15th Dec 2022.

* Theme 2022 : The theme of the summit this year (2022) is Restoration and Conservation of Small Rivers in a Large Basin.

* It will also focus on the select aspects of ‘Mapping and Convergence of 5Ps’ - People, Policy, Plan, Programme and Project.

* The three-day-long summit will aim to give an insight into the potential causes for divergence and formulate a strategy to achieve convergence.

* The event will also host a finance forum to bring together global financial institutions and investors interested in river restoration and conservation programmes..

Source : AIR

Published On : December 15, 2022

6 .

Nitin Gadkari has inaugurated (15th Dec 2022) and laid the foundation stone of 12 National Highway development projects worth 40,453 crore rupees in Which State?

A)

Kerala

B)

Karnataka

C)

Telangana

D)

Andhra Pradesh

Correct Answer : Kerala

Union Minister of Road Transport and Highways, "Nitin Gadkari" will inaugurate and lay the foundation stone of 12 National Highway development projects worth 40,453 crore rupees in Kerala 15th Dec 2022.

The event will be held at the Travancore International Convention Centre at Karyavattom Sports Hub, Thiruvananthapuram 15th Dec 2022 at 3:45 PM. Chief Minister Pinarayi Vijayan will preside the function.

Union Minister of State for Road Transport and Highways Gen. VK Singh, Union Minister of State for External Affairs & Parliamentary Affairs V. Muraleedharan, State Public Works Development & Tourism Minister P.A. Muhammad Rias will attend the event.

The projects will have 403 km inside Kerala and are implemented by the National Highways Authority of India..

Source : News On Air

Published On : December 15, 2022

7 .

Who has been appointed (14th Dec 2022) as the president of retail business of DealShare (Social e-commerce company)?

A)

Kishore Biyani

B)

Kamaldeep Singh

C)

Albinder Dhindsa

D)

Ignatius Navil Noronha

Correct Answer : Kamaldeep Singh

Social e-commerce company "DealShare" on Wednesday(14th Dec 2022) announced the appointment of former Big Bazaar CEO "Kamaldeep Singh" as its president of retail.

Singh’s deep knowledge of Indian consumer behaviour, building sourcing organization, vast network of brands, and building talent and team fits well for DealShare’s next phase of growth, the company said announcing the appointment.

The move comes after DealShare, a Jaipur-based social commerce startup owned and operated by Merabo Labs Pvt Ltd, raised an additional $45 million from Abu Dhabi Investment Authority (ADIA), as an extension of its Series E round, in February this year.

DealShare is present in 150 cities across eight states and caters to about 4 lakh orders daily. DealShare procures products from local manufacturers and provides them with a platform to digitize their business.

In his prior role, Singh served as the CEO of Big Bazaar, where he was responsible for retail operations, organizational transformation, and business strategy execution.

“We have cut down our monthly burn to less than 50% over the last 4 to 5 months without much impact on our scale. We will continue to focus heavily on profitable growth in future and Kamaldeep’s deep operational experience will help us speed up this journey," Sourjyendu Medda, founder and co-CEO, DealShare, said.

The company has made a few top hires over the last 12 months.

“With a slew of recent top level hires to strengthen our core team over the last one year, Kamaldeep will take our leadership pool a notch higher and support our vision to be India’s largest mass market player for FMCG and grocery retail. We have been growing exponentially over the last 4 years and this growth is a testimony of the high potential of our business model in capturing a large share of mass market retail in India," said Vineet Rao, founder & CEO, DealShare..

Source : Mint

Published On : December 15, 2022

8 .

Who has been appointed as the inaugural CEO of the organising committee for the 2032 Olympic and Paralympic Games in Brisbane?

A)

Claudia Bach

B)

Jacques Count Rogge

C)

Cindy Hook

D)

Juan Antonio Samaranch

Correct Answer : Cindy Hook

American executive "Cindy Hook" has been appointed as the inaugural CEO of the organising committee for the 2032 Olympic and Paralympic Games in Brisbane.

* The organising committee announced the appointment on Tuesday(13th Dec 2022) after engaging with 50 candidates over six months.

* Hook was based in Singapore as CEO of Deloitte Asia Pacific until June and had previously worked for the international professional services network in the U.S. and in Australia, moving to Sydney in 2009 to lead the auditing practice for six years and later becoming CEO of the Australian operation in 2015.

* “The opportunity to lead the Olympics and Paralympics is once in a lifetime,” Hook said. “The idea of setting up the organisation, building the team, creating a vision, and driving to a smooth delivery of Brisbane 2032 is very exciting and I expect it will be both challenging and rewarding.”

* Hook said she had made regular visits to Brisbane during her prior time in Australia and would be moving to the Queensland State capital and starting the new role in February.

* Brisbane 2032 president Andrew Liveris described Hook as a person who knows what it takes to run a multi-billion dollar business on time and on budget.

* “I’m so pleased that we’ve found someone with a deep affinity for Australia while also understanding what is required to turn Brisbane 2032 into a household name across the world,” Liveris said.

* The International Olympic Committee awarded the 2032 Games to Brisbane in July of last year, under a revamped procedure for choosing host cities that saw a small group of IOC members identify and propose host cities to the board. Australia has twice previously hosted the Summer Olympics, at Melbourne in 1956 and Sydney in 2000.

* The 2032 organising committee held its first board meeting in April and, on July 23, started the decade-long countdown..

Source : The Hindu

Published On : December 15, 2022

9 .

Which state/UT in India has proposed to introduce a unique alpha-numeric identification number for all families?

A)

Uttar Pradesh

B)

Uttarakhand

C)

Jammu and Kashmir

D)

Himachal Pradesh

Correct Answer : Jammu and Kashmir

The Jammu and Kashmir administration is planning to create an authentic database of all families in the Union territory with each of them having a unique alpha-numeric code -- the objective being easy selection of eligible beneficiaries of various social welfare schemes.

* The proposed move to allot "Family ID" has been welcomed by the BJP but panned by other parties which raised concerns over personal data safety.

* At the recent national conference on e-governance in Katra in Reasi district, Jammu and Kashmir "Lt Governor Manoj Sinha" and Chief Minister of Haryana "Manohar Lal Khattar" released the Digital J&K Vision Document, unveiling the government plan to create an authentic, verified and reliable database of all families of the Union territory.

* According to the vision document, "Each family will be provided with a unique alpha-numeric code called JK Family ID. The data available in the family database would be used to determine eligibility through automatic selection of beneficiaries for receiving social benefits."

* "The database would identify each and every family in J&K and would collect the basic data of the family, provided with the consent of the family, in a digital format."

* The document further reads that all the applicable laws and regulations in respect of data protection shall be complied with in the management of data.

* To thwart risks and protect sensitive and critical data, it said the Jammu and Kashmir government plans to work on an information security policy and also envisages formulation of appropriate cyber security framework.

* Commissioner Secretary of the IT Department Prerna Puri said the objective of creating the database, which will be at par with Haryana's 'Parivaar Pehchaan Patra', is that families or individuals will not have to apply to receive benefits under each individual scheme.

* "Once the data in the JK Family ID database is authenticated and verified, a beneficiary will not be required to submit any more document to avail a service."..

Source : Dailypioneer

Published On : December 15, 2022

10 .

'International Climate Club' has been launched by which institution?

A)

G-7

B)

G-20

C)

SAARC

D)

World Bank

Correct Answer : G-7

The Group of Seven leading economies have created an open, international climate club for countries that want to cooperate in the fight against global warming, German Chancellor Olaf Scholz said Monday(12th Dec 2022) after a video conference with other G-7 leaders.

* Germany holds the presidency of the G-7 until the end of the year and then passes it on to Japan.

* Scholz said the new forum group is not intended to be a G-7 initiative; rather, it is to be a global undertaking.

* "With the climate club and the socially just transition of our industries toward climate neutrality, we are making an important contribution to achieving global climate targets," the chancellor said.

* The climate club aims to support the rapid and ambitious implementation of the Paris Agreement, which seeks to limit global warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit), according to the German government.

* Monday(12th Dec 2022) was the seventh anniversary of accord's adoption.

* The club will work to help accelerate the industrial transition to cleaner forms of energy and to further develop emission-reduction measures, the German government said.

* Committed developing and emerging countries that join the club are to receive support to push ahead with the transformation of their industries.

* Scholz told reporters in Berlin that the Organisation for Economic Co-operation and Development and the International Energy Agency would establish a "climate change secretariat now that the forum is launched..

Source : Business Standard

Published On : December 15, 2022