Current Affairs 16 & 17 January 2022

We are here for you to provide the important Recent and Latest Current Affairs 16 & 17 January 2022, which have unique updates of Latest Current Affairs 2021 events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.

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NATIONAL AFFAIRS

Bhupender Yadav Releases India State of Forest Report 2021 Prepared by FSI; Forest cover Rose by 2,261 sq km On 13th January 2022 Union Environment Minister Bhupender Yadav released the India State of Forest Report (ISFR) 2021, the biennial report of the Forest Survey of India (FSI) which showed that the forest and tree cover in India has risen by 2,261 square Kilometers (sq km) in 2 years (compared to 2019).

• The total rise of 2,261 square Kilometers (sq km) includes an increase of 1,540 sq km of forest cover and 721 sq km of tree cover compared to the 2019 report.
• Andhra Pradesh has grown the maximum forest cover of 647 sq km.

Highlights:
i.India’s total forest and tree cover is now spread across 80.9 million hectares, which is 24.62 percent of India’s geographical area.
ii.Total mangrove cover in the country is 4,992 sq km with an increase of 17 sq Km as compared to the previous 2019 report.
iii.The total carbon stock in India’s forest is estimated to be 7,204 million tonnes with an increase of 79.4 million tonnes in the carbon stock of India as compared to the 2019
About Ministry of Environment, Forest & Climate Change (MoEFCC):
Union Minister – Bhupender Yadav (Rajya Sabha Rajasthan)
Minister of State (MoS) – Ashwini Kumar Choubey (Buxar, Bihar)
>> Read Full News 

Indian Railways launched ‘Operation Mission Amanat’ for Passengers to track & Get Back Lost LuggageThe Indian Railways launched a new ‘Operation Mission Amanat’  initiative to track lost luggage of the passengers.
i.The Railway Protection Force (RPF) of Western Railway will help in getting back the lost luggage. It will ensure more  safety and security of luggage and belongings of the passengers.
ii.Under the Operation Mission Amanat, the details of lost luggage and belongings along with photos are posted on the official website of the western railway.

• Web portal name– https://wr.indianrailways.gov.in/ in the tab of divisions under the link “Mission Amanat – RPF.

 Note- Western Railway headquartered in Mumbai, Maharashtra.
About Indian Railways:
i.Indian Railways was nationalized in 1951
Headquarters-New Delhi
Administered  – under Ministry of Railways

INTERNATIONAL AFFAIRS

WEF Released 17th Edition of Global Risks Report 2022World Economic Forum (WEF) released the report titled “The Global Risks Report 2022: 17th Edition” prepared in partnership with Marsh McLennan, SK Group and Zurich Insurance Group.
The 2022 report draws on the views of the 12,000 country-level leaders who  identified critical short-term risks to their 124 countries gathered by the WEF’s Executive Opinion Survey(EOS), conducted between May and September 2021.

• The report also features the results of the Global Risk Perception Survey(GRPS) 2021-2022, which has underpinned the report since 2006.

The report states that Widespread Youth disillusionment and digital inequality are among the top 5 risks for India. Fracture of interstate relations; Debt crises in large economies; and Failure of technology governance are the other 3 risks for India.
About World Economic Forum (WEF):
Founder and Executive Chairman- Klaus Schwab
Founded in–  1971
Headquarters– Geneva, Switzerland
>> Read Full News 

BANKING & FINANCE

Torus Kling Blockchain launches Bitcoin and Ethereum Futures ETF, India’s first crypto backed futures ETF at GIFT CityThe Torus Kling Blockchain IFSC, an equal joint venture between Cosmea Financial Holdings and Kling Trading India signed a MoU with India INX to launch the first Bitcoin and Ethereum Futures exchange traded funds (ETFs) in India.

• These funds will become India’s first crypto backed futures outside of the United States (US).
• Torus Kling Blockchain is targeting $ 1 billion Assets Under Management (AUM) in the first two years from customers participating in blockchain backed products through ETFs and Discount certificates.

Highlights:
i.Under the agreement, Torus Kling Blockchain IFSC also launched  Metaverse US-listed large-cap discount certificates.

• It will be the first Asian discount certificates tracking metaverse large-cap stocks in the US and Europe markets.

ii.Torus Kling Blockchain will work as a liquidity provider to India INX. While India INX will work as a trading platform and Cosmea Financial Holdings will work as the distributor.

• The ETF futures will be launched under a sandbox construct of the International Financial Services Centres Authority (IFSCA).

Note- In India, the SEBI (Securities and Exchange Board of India) banned crypto-based funds to be Introduced in the Indian market.
iii.India INX is the international component of BSE Limited (formerly Bombay Stock Exchange). It started operating on 16 January 2017 and it is India’s first international exchange set up at GIFT city (Gandhinagar, Gujarat).
About International Financial Services Centres Authority (IFSCA):
i.The International Financial Services Centres Authority (IFSCA) was established on April 27, 2020 under the International Financial Services Centres Authority Act, 2019.
Objective-  To develop and regulate international financial services centres in the country.
Headquarters-  at GIFT City, Gandhinagar in Gujarat.
About India INX:
India International Exchange (IFSC) Limited (India INX)  is  India’s first international exchange in the International Financial Services Centre (IFSC).
Managing  director and CEO– V. Balasubramaniam,

Marwadi Financial Services partnered with NSDL Payments Bank to offer 3-in-1 Savings Account to Customers

Marwadi Financial Services has joined hands with NSDL Payments Bank to offer 3-in-1 savings bank account with features of savings, demat (Dematerialised Account) and trading accounts to boost its customer experience. This partnership will also allow NSDL Payments Bank to access Marwadi’s clients and expand its customer base.

• NSDL Payments Bank is a subsidiary of NSDL (National Securities Depository Limited), the first and the largest depository in India.
• Marwadi Financial Services is a Rajkot, Gujarat based financial service group dealing in equities/commodities/currencies broking and portfolio management services.

How will this partnership be helpful?
ii.It enables the broking customers to allocate funds to the broker for stock market transactions while retaining the money in their bank account until the trade is successfully executed. That money will continue to attract interest until such trade gets completed.
ii.This 3-in-1 account facility will enable investors to  transfer funds and execute trades in real-time i.e. it surpass the  traditional fund transfer process (between savings and trading accounts) with single click for availing margins
iii.This account also allows the customers to tag and identify capital market transactions separately through the mobile banking app which will be helpful at the time of filing tax returns.
iv.Customers will experience an advanced trading experience offered by Marwadi Financial Services with a safe and secure banking mechanism backed by NSDL Payments Bank.

ECONOMY & BUSINESS

UN-DESA Report lowered Global Economic Growth at 4% for 2022 & 3.5% for 2023i.On January 13, 2022, the United Nations Department of Economic and Social Affairs (UN DESA) released World Economic Situation and Prospects (WESP) 2022 report was released which has lowered the global economic growth projections to 4% in 2022 and 3.5% in 2023 due to new waves of coronavirus infections, persistent labor market challenges, lingering supply chain issues, and rising inflationary pressures.
ii.Global trade in goods and services are forecasted at 5.7% in 2022 after an expansion of 11% in 2021.
iii.It should be noted that in 2021, the world economy grew at 5.5% due to consumer spending, some increase in investments and trade in goods which surpassed levels before the COVID-19 pandemic.
iv.India’s Growth of world output and Gross Domestic Product (GDP) is projected 6.7% in 2022 and 6.1% in 2023 as compared to 9% in 2021.
About United Nations (UN):
Establishment– 1945
Secretary General– Antonio Guterres
Headquarters– New York, USA
>> Read Full News  

UK launches  Free Trade Agreement  negotiations with IndiaOn 13 January, 2022, the government of the United Kingdom (UK) launched free trade agreement (FTA) negotiations with India. This negotiation was described as a “golden opportunity” to put British businesses at the “front of the queue” of the Indian economy.
Highlights:
i.Under the negotiations,  the UK wants an agreement to remove barriers and to cut tariffs on exports of British-made cars and Scotch whisky. The first round of negotiations was agreed to begin on 17 January 2022.

• It offers huge benefits for British businesses, workers and consumers.

ii.The India-UK FTA  drafted in the UK will create benefits for both countries. It boosts bilateral trade by up to GBP 28 billion a year by 2035 and increases wages by up to GBP 3 billion across the UK.

• The Removal duties can increase UK exports to India by up to GBP 6.8 billion,with Scotch whisky and cars currently facing enormous duties of 150 per cent and 125 percent respectively.

iii.The FTA was announced by the Indian Minister for Commerce and Industry Piyush Goyal and UK Trade Secretary, Anne-Marie Trevelyan, who is in New Delhi for FTA discussions.
iv.The Indian negotiating team was led by Nidhi Mani Tripathi, Joint Secretary, Department of Commerce and the UK negotiating team led by Harjinder Kang, Director for India Negotiations at the Department for International Trade.
Note:The 15th UK-India Joint Economic and Trade Committee (JETCO)  will be held in New Delhi to review the progress within the UK-India Enhanced Trade Partnership.
Additional Info – 
Both the nations’ have agreed to double that bilateral trade by 2030, as part of Roadmap
2030 announced by the Prime Minister Narendra Modi and Prime Minister of UK, Boris
Johnson, in May 2021.
About United Kingdom (UK):
Prime minister-Boris Johnson
Capital-London
Currency– Pound sterling

AWARDS & RECOGNITIONS        

Actress Harshaali Malhotra Receives 12th Bharat Ratna Dr Ambedkar Award 2022

Hindi actress Harshaali Malhotra has been honoured with the 12th Bharat Ratna Dr Ambedkar Award 2022 for her performance as Munni, a mute girl from Pakistan, in the 2015 film Bajrangi Bhaijaan starring Salman Khan. 

• She received the award from Bhagat Singh Koshyari, Governor of Maharashtra during the 12th Bharat Ratna Dr Ambedkar Awards 2022 ceremony organized in the memory of Dr Babasaheb Bhimrao Ambedkar, on the occasion of the upcoming 73rd Republic Day.
• Managing Director of Kedia Securities Dr. Vijay Kedia also received the Bharat Ratna Dr Ambedkar Awards 2022.
• Versova MLA Dr. Bharati Lavekar, social worker Subhash Kumar Agarwala, Business leader Partha Chakravarty, Businessman Dr. Md Moinuddin Bin Moksud, social worker Dr. Khalid Shaikh, Pastor Rev. Dr. Paritosh Canning and President of Manav Seva Foundation Vijay Shah were presented the International Buddha Peace Awards 2022.

APPOINTMENTS & RESIGNATIONS          

Rakesh Anand Appointed Chef de Mission for CWG & Bhupender Singh Bajwa for Asian Games 2022

Indian Olympic Association (IOA) announced the appointment of Rakesh Anand as India’s Chef de Mission for Commonwealth Games 2022 (CWG 2022) and Bhupender Singh Bajwa was appointed as the India’s Chef de Mission for Asian Games 2022.
Highlights:
i.The CWG 2022 games will be organized in Birmingham, United Kingdom (UK) from July 28 to August 8, 2022 and Asian Games 2022 will be organized in Hangzhou, China from September 10 to 25, 2022.
ii.The Chef de Mission leaders help in ensuring the responsibility  of athletes and the coaching staff so that they can perfom best.
iii.Rakesh Anand is IOA senior vice-president ; Bhupender Singh Bajwa is President of the Wushu Association of India.
About Commonwealth Games  2018 (CWG 2018):
i.CWG 2018 is  officially known as the XXI Commonwealth Games or Gold Coast 2018.
ii.At the CWG 2018, India stood at third on the medals table with 66 medals – 26 gold, 20 silver and 20 bronze.
Location-Gold Coast, Queensland, Australia,
Motto-Share the Dream
About Indian Olympic Association (IOA):
President– Narinder Batra
Secretary General- Rajeev Mehta
Headquarters- New Delhi

SCIENCE & TECHNOLOGY

South Africa Launches 1st Indigenously developed Satellite Constellation – MDASat

South Africa launched its first indigenously developed constellation of satellites called Maritime Domain Awareness Satellite (MDASat) constellation from Cape Canaveral in the United States (US) as part of SpaceX’s Transporter-3 mission.
Highlights:
i.The Maritime Domain Awareness Satellite (MDASat) constellation consists of three nanosatellites and is funded by the Department of Science and Innovation (DSI) of South Africa.
ii.The full MDASat constellation consists of nine cube satellites. It will  help in detecting, identifying and monitoring vessels in real-time and provide maritime domain support
iii.The Transporter-3 mission is the third rideshare mission of SpaceXs. It  carries a total of 105 spacecraft for various organisations and countries such as CubeSats, microsats, PocketQubes and orbital transfer vehicles.
Other satellite constellation of South Africa:
i.In 2018, South Africa launched the most advanced nanosatellite called  ZACube-2 as a technology demonstrator for the constellation.

• It provides  very high frequency (VHF) data exchange communication systems to the maritime industry to support Operation Phakisa.

About South Africa:
President-Cyril Ramaphosa
Capitals-Cape Town, Pretoria, Bloemfontein
Currency- South African Rand

SPORTS

India Withdraw from Asian Under-22 Boxing Championship Amid Pandemic Threat

The Boxing Federation of India (BFI) pulled out of the Asian Under-22 Championships for men and women that is scheduled to be held in Tashkent, Uzbekistan, citing COVID-19 pandemic.
Key points:
i.The championship will be held from January 20 to 30, 2022 in Tashkent, Uzbekistan organised by Asian Boxing Confederation (ASBC).

• The tournament will be held under 12 Women’s and 13 Men’s weight categories.

ii.BFI announced to participate in the tournament if it gets rescheduled till the pandemic ends.
About Boxing Federation of India (BFI):
Indian Boxing Federation is also known as All India Boxing association.
President– Ajay Singh
Headquarters- Gurgaon, Haryana
About Asian Boxing Confederation (ASBC):
President– Anas Alotaiba
ASBC conducted the 1st Asian Boxing Championship in 1963 at Bangkok, Thailand.

OBITUARY

Former Japanese PM Toshiki Kaifu passed awayThe former Prime Minister (PM) of Japan, Toshiki Kaifu passed away at the age of 91 years in Japan. He served as the PM from 1989 to 1991.
i.Toshiki Kaifu was a politician, born on 2 January 1931 in Nagoya, Aichi, Japan.
ii.He is known for sending the Maritime Self-Defense Force to the Persian Gulf in 1991.
iii.He dedicated his life to tackling many policy challenges of the country including the outbreak of the Persian Gulf War.

IMPORTANT DAYS

6^th Armed Forces Veterans Day observed on January 14, 2022On January 14, 2022, the 6th Armed Forces Veterans Day was observed to recognize the sacrifice of our veterans in serving the nation.

• It was called Armistice Day when initiated in 2017.
• The day honors the services rendered by Field Marshal Kodandera Madappa Cariappa OBE, the first Indian Commander-in-Chief (C-in-C) of the Indian Armed Forces. He led the Indian forces on the Western Front during the Indo-Pakistan War of 1947. He retired on January 14 in 1953.

Key Points:
i.The event day also serves as a platform to strengthen the bond between serving personnel and veterans.
ii.At various events, stalls are set up for the benefit of ex-servicemen, which includes health and medical check-up camp, job placement and resettlement stalls.

• Awareness on pensions and welfare-related subjects is also raised through lectures
• Various government departments commemorate the day.

iii.It should be noted that in 2021, Swarnim Vijay Varsh was celebrated throughout the year to honor veterans who fought and won the 1971 Kargil war.

STATE NEWS

RIL signs MoU with Gujarat for investing Rs 5.95 lakh crore in Green Projects

13 January 2022, the Reliance Industries Limited (RIL) signed a Memorandum of Understanding (MoU) with the Government of Gujarat of investment  Rs 5.955 lakh crore in various projects as part of the Investment Promotion Activity (IPA) for Vibrant Gujarat Summit 2022.
Key Points:
i.RIL will help in setting up 100 GW Renewable Energy Power Plant and Green Hydrogen Eco-System in Gujarat in a 10-15 years span.

• A 100 GW renewable energy power project started  in Kutch, Banaskantha and Dholera of Gujarat.

ii.The agreement will also generate 10 lakh direct and indirect employment opportunities for Small and Medium Enterprises (SMEs) in Gujarat.
iii.RIL will develop an eco-system for assisting Small and Medium Enterprises (SMEs) and encourage entrepreneurs to embrace new technologies and innovations leading to captive use of Renewable Energy and Green Hydrogen.
iv.RIL will invest another Rs 60,000 crore in setting up New Energy Manufacturing-Integrated Renewable Manufacturing: 1) Solar PV Module (manufacture of Polysilicon, wafer, cell & module); 2) Electrolyzer; 3) Energy-storage Battery; 4) Fuel Cells.About Gujarat:
Airport-Surat Airport, Govardhanpur Airport  or  Jamnagar Airport
Stadium- Saurashtra Cricket Association Stadium, Bilakhiya Stadium
About Reliance Industries Limited (RIL):
CEO-Mukesh Ambani
Headquarters- Mumbai, Maharashtra

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