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December - 2022 Current Affairs
A)
5 Years
B)
6 Years
C)
8 Years
D)
10 Years

Correct Answer :   10 Years


Paris Club creditor nations are proposing a 10-year moratorium on Sri Lankan debt and another 15 years of debt restructuring as a formula to resolve the Sri Lankan debt crisis. The Paris club is a group of officials from 22 countries who find sustainable solutions for challenges faced by debtor countries.
 
The Paris club has also called upon the Global north and south to take a similar haircut in restructuring of Sri Lankan debt. So far no official proposal has been made by Paris club to China or India.
 
Meanwhile, the island nation is yet to initiate any formal dialogue with China. The delay has reduced chances of making the December deadline for getting extended fund facility from IMF executive board.

The next likely IMF meeting is possible only in March 2023. Given the delays, Sri Lanka will require bridge funding for the period upto the finalisation of IMF package.
 
Earlier this year, Sri Lanka had defaulted on its 51 billion dollar external debt in the midst of spiralling political and economic crisis. India has provided emergency aid to the tune of four billion dollars to the Island nation to tide over its economic crisis this year..

Source : AIR

Published On : December 5, 2022
A)
December 5, 2022
B)
December 4, 2022
C)
December 2, 2022
D)
November 29, 2022

Correct Answer :   December 4, 2022


Freedom at Midnight author Dominique Lapierre has died at the age of 91, AFP reported, quoting his wife. “At 91, he died of old age,” his wife Dominique Conchon-Lapierre told the French newspaper Var-Matin on Sunday, December 4, 2022. She added, “at peace and serene since Dominique is no longer suffering”.
 
Even though Lapierre was from France, he was passionate about India, something that was reflected in his 1985-work City of Joy — based on the hardships of a rickshaw puller in Kolkata — that turned out to be a massive success. It was also adapted for a movie in 1992 which starred Patrick Swayze and was directed by Roland Joffe.
 
The author contributed his earnings for patients suffering from tuberculosis and leprosy. In one of his interview in 2005, he recollected that his earnings and contributions from readers made it “possible to cure a million tuberculosis patients in 24 years (and) to care for 9,000 children with leprosy”.
 
Born on July 30, 1931 in Chatelaillon, Lapierre’s works, in collaboration with the American writer Larry Collins, became bestsellers such that they sold about 50 million copies of the six books he wrote..

Source : Indian Express

Published On : December 5, 2022
A)
30th Nov 2022
B)
1st Dec 2022
C)
2nd Dec 2022
D)
3rd Dec 2022

Correct Answer :   30th Nov 2022


Well-known Yakshagana and Talamaddale artiste and former MLA" Kumble Sundar Rao" passed away in the wee hours of Wednesday(30th Nov 2022). 
 
* He was 88. Rao was an exponent of Thenkuthittu style of Yakshagana and the MLA serving Surathkal (present Mangalore City North) constituency from 1994 to 1999
 
* As an artiste, he had served in Surathkal and Dharmasthala yakshagana mela. Known for distinct style of dialogue delivery, he had carved a niche for himself in the performance art Yakshagana.  
 
* Sundar Rao had served as president of Karnataka State Yakshagana Academy. 
 
* He is survived by his wife, two sons and three daughters. The mortal remains of Sundar Rao will be kept for public to pay tributes at his residence near Pumpwell in Mangaluru..

Source : Deccan Herald

Published On : December 5, 2022
A)
Mansukh Mandaviya
B)
Hansraj Gangaram Ahir
C)
Bhagwanth Khuba
D)
Narendra Singh Tomar

Correct Answer :   Hansraj Gangaram Ahir


Former Union Minister "Hansraj Gangaram Ahir" assumed charge as Chairperson of the National Commission for Backward Classes (NCBC) on Friday(2nd Dec 2022).
 
* He belongs to District Chandrapur, State of Maharashtra. He is an Agriculturist by profession, read a statement from the Ministry of Social Justice & Empowerment.
 
* Hansraj Gangaram Ahir had been elected four times Member of Parliament from Parliamentary Constituency Chandrapur, Maharashtra and also he was Member of the Maharashtra Legislative Council.

* He had been Member of various Standing Committees of Parliament and also served as the Chairperson of the Parliamentary Standing Committee on Coal and Steel.
 
* He had been Union Minister of State for Home Affairs and Union Minister of State for Chemicals and Fertilizers, Government of India the 16th Lok Sabha..

Source : The Print

Published On : December 5, 2022
A)
2nd December
B)
3rd December
C)
4th December
D)
5th December

Correct Answer :   4th December


International Day of Banks is celebrated on December 4 to recognise the importance of multilateral and international development banks in financing sustainable developments.

* United Nations also observes the day in recognition of the vital role of banking systems in Member State in contributing to the improvement of the standard of living.

* The International Day of Banks was adopted by the U.N. General Assembly as a way to draw attention to the role that international development banks can play in supporting sustainable development.

* Banks support the international community’s goals by financing the sustainable development of member nations and providing information for achieving these goals.

International Day of Banks History : In 2019, the United Nations General Assembly designated December 4 as the International Day of Banks. It is celebrated for the first time in 2020.

International Day of Banks was instituted by the United Nations General Assembly to acknowledge the importance of banks and the role they play in the financial stability and development of their communities.

Banks are financial institutions. They accept money from the public in the form of savings or current deposits, which they lend to others who need it and can provide some collateral. The concept of banking began with the simple implementation of credit in the barter system with the use of collateral.

International Day of Banks Significance : The day is celebrated to the recognition of the significant potential of multilateral development banks and other international development banks in financing sustainable development and providing know-how, and also in recognition of the vital role of the banking systems in the Member States in contributing to the improvement of the standard of living.

Source : UN

Published On : December 5, 2022
A)
Punjab
B)
Gujarat
C)
Maharashtra
D)
Rajasthan

Correct Answer :   Rajasthan


Parakram Diwas will be celebrated in Rajasthan at Jaisalmer Military Station and Longewala War memorial on December 5, 2022.

The day is celebrated to mark the 51st anniversary of India’s victory in the Longewala battle during the 1971 war.

Published On : December 5, 2022
A)
WHO
B)
WTO
C)
UNEP
D)
WMO

Correct Answer :   WMO


WMO (World Meteorological Organization) has released its first annual State of Global Water Resources Report 2021. The aim of this annual report is to support monitoring and management of global freshwater resources in an era of growing demand and limited supplies.
 
The report gives an overview of river flow, as well as major floods and droughts. It provides insights into hotspots for changes in freshwater storage and highlights the crucial role and vulnerability of the cryosphere (snow and ice).
 
The report shows how large areas of the globe recorded drier than normal conditions in 2021 – a year in which precipitation patterns were influenced by climate change and a La Niña event. The area with below-average streamflow was approximately two times larger than the above-average area, in comparison to the 30-year hydrological average.
 
Focus Of The Report: 3 Key Areas :
* Streamflow, the volume of water flowing through a river channel at any given time.
* Terrestrial water storage (TWS) — all water on the land surface and in the sub-surface.
* The cryosphere (frozen water).

“The impacts of climate change are often felt through water — more intense and frequent droughts, more extreme flooding, more erratic seasonal rainfall and accelerated melting of glaciers — with cascading effects on economies, ecosystems and all aspects of our daily lives. And yet, there is insufficient understanding of changes in the distribution, quantity, and quality of freshwater resources,” said WMO Secretary-General Prof. Petteri Taalas.
 
“The State of Global Water Resources report aims to fill that knowledge gap and provide a concise overview of water availability in different parts of the world. This will inform climate adaptation and mitigation investments as well as the United Nations campaign to provide universal access in the next five years to early warnings of hazards such as floods and droughts,” said Prof. Taalas.
 
An Alarming Situation:
Currently, 3.6 billion people face inadequate access to water at least a month per year and this is expected to increase to more than 5 billion by 2050. Between 2001 and 2018, UN-Water reported that 74% of all natural disasters were water-related. The recent UN climate change conference, COP27, urged governments to further integrate water into adaptation efforts, the first-time water has been referenced in a COP outcome document in recognition of its critical importance.
 
Streamflow : 
 
* Large areas of the globe recorded dryer than normal conditions in 2021, compared to the average of the 30-year hydrological base period.
 
* These areas included South America’s Rio de la Plata area, where a persistent drought has affected the region since 2019, the South and South-East Amazon, and basins in North America including the Colorado, Missouri and Mississippi river basins.
 
* In Africa, rivers such as the Niger, Volta, Nile and Congo had less than normal discharge in 2021. Similarly, rivers in parts of Russia, West Siberia and in Central Asia had lower than average discharge in 2021.
 
* There was above normal river discharge in some Northern American basins, the North Amazon and Southern Africa (Zambezi and Orange), as well as China (the Amur river basin) and northern India.
 
* Approximately one third of the areas analysed was in line with the 30-year average.
 
* Significant flood events with numerous casualties were reported, among others, from China (Henan province), northern India, western Europe, and countries impacted by tropical cyclones, such as Mozambique, the Philippines and Indonesia.
 
* Ethiopia, Kenya and Somalia have faced several consecutive years with below-average rainfall causing a regional drought.

Terrestrial water storage :
 
* Terrestrial water storage is all water on the land surface and in the subsurface.

* In 2021, terrestrial water storage was classified as below normal (in comparison to average calculated from 2002-2020) on the West coast of the USA, in the central part of South America and Patagonia, North Africa and Madagascar, Central Asia and the Middle East, Pakistan and North India.
 
* It was above normal in the central part of Africa, the northern part of South America, specifically the Amazon basin, and the northern part of China.
 
* On a longer-term basis, the report pointed out several hotspots with a negative trend in terrestrial water storage. These include Brazil’s Rio São Francisco basin, Patagonia, the Ganges and Indus headwaters, as well as south-western USA.
 
* In contrast, the Great Lakes Region exhibits a positive anomaly, as does the Niger basin, East African Rift and North Amazon basin.
 
* Overall, the negative trends are stronger than the positive ones. Some of the hotspots are exacerbated by over-abstraction of groundwater for irrigation. The melting of snow and ice also has a significant impact in several areas including Alaska, Patagonia and the Himalayas..

Source : WMO

Published On : December 5, 2022
A)
48th position
B)
56th position
C)
61st position
D)
83rd position

Correct Answer :   48th position


India has jumped to the 48th position in the global aviation safety ranking by the International Civil Aviation Organization (ICAO), according to DGCA officials.

* Four years ago, the country was ranked at the 102nd position.
 
* In the ranking, Singapore is at the top, followed by the UAE and South Korea at the second and third positions, respectively, the officials said.
 
* China is at the 49th place, they added.
 
* Under its Universal Safety Oversight Audit Programme (USOAP) Continuous Monitoring Approach, an ICAO Coordinated Validation Mission (ICVM) was undertaken from November 9 to 16, 2022.
 
* On Saturday(3rd Dec 2022), DGCA chief Arun Kumar told PTI that the regulator has worked tirelessly to upgrade India's safety ranking and the results are there. "Hopefully, we continue to remain vigilant and improve further".
 
* The country's score in terms of effective implementation of key safety elements has improved to 85.49 per cent, the officials said.
 
* On November 16, the Directorate General of Civil Aviation (DGCA) said the audit was conducted in the areas of legislation, organisation, personal licensing, operations, airworthiness and aerodromes..

source : NDTV

Published On : December 5, 2022
A)
SBI Mutual Fund
B)
IIFL Mutual Fund
C)
L&T Mutual Fund
D)
Kotak Mutual Fund

Correct Answer :   IIFL Mutual Fund


IIFL Mutual Fund has launched the new fund offering of IIFL ELSS Nifty 50 Tax Saver Index Fund (IN50).
 
It is the first passively managed tax-saving scheme (also known as Equity-Linked Savings Scheme, or ELSS) to be launched after the capital market regulator, Securities and Exchange Board of India (SEBI), allowed fund houses to launch such passive funds on May 23, 2022.
 
What is on offer?
 
IN50 is an equity fund. It will invest in all stocks in- and in the same proportion as they lie in- the Nifty50 index. It will aim to mimic Nifty 50 index’s returns. This also means IN50’s fund manager will not take cash calls; it won’t substantially hold cash, like some other tax saver schemes do.
 
Being a tax saver fund, all investments in this scheme up to Rs 1.5 lakh, along with other eligible contributions, will fetch you deduction under Section 80C of the Income Tax Act. Like all contributions to ELSS, the units of this scheme too will be locked in for three years from the date of allotment..

Source : Moneycontrol

Published On : December 5, 2022
A)
Poshn
B)
Arya.ag
C)
Kheyti
D)
AgroStar

Correct Answer :   Kheyti


A Greenhouse-in-a-Box sustainable solution for small farmers devised by Telangana startup "Kheyti" has won the 1 million pounds Earthshot Prize, founded by Britain's Prince William and dubbed the Eco Oscars'.
 
* Kheyti, one of the five winners at a gala green carpet awards ceremony in Boston on Friday(2nd Dec 2022) night, won the prize in the Protect and Restore Nature category from hundreds of entries worldwide.
 
* The pioneering solution for local smallholder farmers is designed to reduce costs, increase yields and protect livelihoods in a region on the frontlines of climate change.
 
* I believe that the Earthshot solutions you have seen this evening prove we can overcome our planet's greatest challenges, and by supporting and scaling them we can change our future, said William, the Prince of Wales.
 
* Alongside tonight's winners and finalists, and those to be discovered over the years to come, it's my hope the Earthshot legacy will continue to grow, helping our communities and our planet to thrive, he said.
 
* Kheyti Co-founder & CEO Kaushik Kappagantulu said he launched the concept to help some of India's nearly 100 million small-hold farmers, among the poorest people on the planet and the most impacted by climate change.
 
* His Greenhouse-in-a-Box offers shelter from unpredictable elements and destructive pests and the startup also trains and supports farmers to ensure their greenhouse is as effective as possible..

Source : Business Standard

Published On : December 5, 2022