Current Affairs is the most important area in all competitive exams. But the difficulty level is very high. That’s why; many aspirants get confused, how to select Current Affairs for Preparation of Competitive Examination? In this Post, Daily Current Affairs 4&5 December 2022, we have tried to cover each and every point and also included all important facts from National/ International news that are useful for upcoming competitive examinations such as UPSC, SSC, Railway, State Govt. etc.
Current Affairs for Competitive Exam – 4&5 December 2022
International Volunteer Day for Economic and Social Development: 5 December
International Volunteer Day for Economic and Social Development 2022: Every year on December 5, the International Volunteer Day for Economic and Social Development is observed. The day is also known as International Volunteer Day (IVD) to commemorate and promote the arduous work of volunteers all across the world, not just UN Volunteers. The international observance was mandated by the United Nations (UN) General Assembly in 1985. The day commemorates 80 countries around the world.
December 2022 Current Affairs Quiz
International Volunteer Day 2022: Theme
The theme of International Volunteer Day (IVD) 2022 is solidarity through volunteering. This campaign highlights the power of our collective humanity to drive positive change through volunteerism.
International Volunteer Day 2022: Significance
Individuals, organisations, and communities can use International Volunteers Day to highlight their efforts at the local, national, and international levels. The best way that one can celebrate this day is by contributing or rather volunteering at organisations, government agencies, non-profit institutions, community groups and academia. Each year hundreds of millions of people volunteer their time and skills to help improve the lives of others.
International Volunteer Day 2022: History
- The General Assembly invited governments to observe the day as the International Volunteer Day for Economic and Social Development under resolution 40/212 on December 5. It was the consequence of their December 17, 1985 decision, which directed all governments, civil society organisations, and communities to work with volunteers all across the world to celebrate the day.
- The Assembly also urged to take measures to heighten awareness of the important contribution of volunteer service. The UN Generally Assembly proclaimed 2001 as the International Year of Volunteers. The year was marked by the acknowledgement of volunteers, the facilitation of their work, the establishment of a communication network, and the promotion of the benefits of volunteer service.
- In November 2002, the UN Assembly beseeched UNV to ensure the potential of International Volunteer Day. Through the years many countries have focused on volunteers’ contribution to achieving Sustainable Developments Goals to combat, poverty, hunger, disease, health, environmental degradation and gender equality.
NSE Launches New Nifty Bharat Bond Index
NSE Launches New Nifty Bharat Bond Index: The National Stock Exchange’s subsidiary NSE Indices has said it has launched one more index under the Nifty Bharat Bond Index series.
More About The New Index:
The Bharat Bond Index series follows a target maturity date structure wherein each index in the series measures the performance of a portfolio of ‘AAA’ rated bonds issued by government owned entities maturing in a specific year.
December 2022 Current Affairs Quiz
What Has Been Said:
“The impending Bharat Bond ETF, the sixth in the series, will track the newly launched Nifty BHARAT Bond Index, which matures in 2033.” The first Bharat Bond ETFs tracking the Nifty Bharat Bond indices were launched in December 2019, Mukesh Agarwal, CEO, NSE Indices, said.
“The launch of the Bharat Bond ETFs has also opened up the target maturity date index funds category with overall assets under management of more than ₹1.30 lakh crore. Along with existing five target maturity indices, the launch of the new Bharat Bond index maturing in 2033 will provide more investment choices to fixed income investors and will help create a ladder structure of various maturities,” Agarwal added.
About The Timeline Of The Index:
NSE Indices launched the first two indices in the Bharat Bond Index in December 2019, with maturities in April 2023 and April 2030, and another two indices with maturities in April 2025 and April 2031 in July 2020.
World Soil Day observed on 5th December
World Soil Day 2022: World Soil Day is observed annually on December 5 to emphasise the importance of healthy soil and to promote sustainable management of soil resources. The event aims to raise awareness of the importance of soil quality for human well-being, food security and ecosystems, and events are held at the UN FAO offices and through community based events. The International Union of Soil Sciences proposed the day in 2002, but FAO did not officially support it until 2013.
December 2022 Current Affairs Quiz
World Soil Day 2022: Theme
The theme for World Soil Day in 2022 is ‘Soils: Where Food Begins.’ It emphasises upon the importance of maintaining healthy ecosystems and human well-being. The theme’s goal is to draw attention to the rising changes in soil management, increase soil awareness, and inspire people to work together to promote soil health.
World Soil Day 2022: History
- World Soil Day (WSD) is observed every year on December 5 to focus attention to the importance of healthy soil and to advocate for the sustainable management of soil resources.An international day to celebrate soil was recommended by the International Union of Soil Sciences (IUSS) in 2002.
- Under the leadership of the Kingdom of Thailand and within the framework of the Global Soil Partnership, FAO has supported the formal establishment of WSD as a global awareness raising platform. The FAO Conference unanimously endorsed World Soil Day in June 2013 and requested its official adoption at the 68th UN General Assembly. In December 2013, the UN General Assembly responded by designating 5 December 2014 as the first official World Soil Day.
- The date was chosen since it is the official birthday of Thailand’s King, H.M. King Bhumibol Adulyadej. He had officially sanctioned the event. World Soil Day was first officially marked in memory of the monarch in 2016, the year he passed away after serving as the head of state for seven decades.
NPCI Extends UPI Volume Cap Deadline by 2 Years Till Dec 2024
NPCI Extends UPI Volume Cap Deadline by 2 Years Till Dec 2024: The National Payments Corporation of India has extended the deadline for payment aggregators to achieve UPI (Unified Payments Interface) volume criteria by two years, until December 31, 2024.
December 2022 Current Affairs Quiz
What Has Been Said:
“Taking into account the present usage and future potential of UPI, and other relevant factors, the timelines for compliance of existing TPAPs (third party app providers) who are exceeding the volume cap, is extended by two years i.e. till December 31, 2024 to comply with the volume cap,” it said in a circular.
In view of significant potential of digital payments and the need for multi-fold penetration from its current state, it is imperative that other existing and new players (banks and non-banks) shall scale-up their consumer outreach for the growth of UPI and achieve overall market equilibrium, NPCI said.
About The Guideline:
The guidelines, which went into effect in November 2020, required that the UPI volume of transactions initiated through a payment service provider not exceed 30% of the total volume of UPI transactions executed in the preceding three months. While the cap was effective from January 1, 2021, existing players that had a share higher than 30 per cent – such as PhonePe and Google Pay – were given two years to comply with the norms in a phased manner.
Need Of This:
The step was taken to address the risks and protect the UPI ecosystem, NPCI had then said. However, payment aggregators have since argued that it is near impossible to control market share without impacting new customers or slowing down their own business growth, especially if the product and services are being used and preferred by customers.
What The Govt is Saying:
The Reserve Bank of India (RBI) issued a consultation paper on payment system charges, arguing for a tiered charge to be imposed on UPI transactions, similar to Immediate Payment Service (IMPS) transactions. The Central government also said that UPI is convenient and that there were no plans to put any charges on it.
Uncompetitive Nature:
As per latest NPCI data, PhonePe had 47 per cent market share in terms of the volume of UPI transactions in October, whereas Google Pay had 34 per cent share and Paytm around 15 per cent.
3rd T20 World Cup cricket tournament for Blind to be held in India
3rd T20 World Cup cricket tournament for Blind to be held in India: The third T20 World Cup Cricket Tournament for the Blind will take place in India from December 5 to 17, 2022. Australia, Bangladesh, Nepal, Pakistan, South Africa, Sri Lanka, and India will compete in the World Cup 2022. Around 150 players from all countries will participate in the tournament and there will be a total of 24 matches across nine cities in India. The event is being held to commemorate World Disability Day around the world. The inauguration of the World Cup on December 5 at Tau Devi Lal Indoor Stadium, Gurugram. Former India batter Yuvraj Singh is the brand ambassador of the tournament.
December 2022 Current Affairs Quiz
About the World Cup Cricket Tournament for the Blind:
Since 2012, the World Cup has been organised by the Cricket Association for the Blind in India (CABI) in collaboration with the Samarthanam Trust for the Disabled. Since its inception, Samarthanam Trust has organized over 30,000 visually impaired matches.
Sanjay Kumar named as secretary of Department of School Education
Sanjay Kumar named as secretary of Department of School Education: Sanjay Kumar, IAS, was appointed Secretary of the Department of Education’s Department of School Education and Literacy in Shashtri Bhawan in New Delhi. Sanjay Kumar, a 1990-batch Bihar cadre IAS officer, was a former Secretary, Department of Youth Affairs, Ministry of Youth Affairs and Sports. He replaced Anita Karwal IAS upon her superannuation.
December 2022 Current Affairs Quiz
Sanjay Kumar met with senior Ministry officials, during which he inspected the department’s, autonomous bodies’, and other school education schemes’ operations. Discussions were held on the implementation of the National Education Policy 2020, capacity building of teachers, infrastructure in schools, and the upcoming Prime Minister’s interaction programme ‘Pariksha Pe Pariksha’. Kumar said that he looks forward to contributing towards providing quality, accessible and affordable education to every student in the country. Sanjay Kumar was also Bihar’s principal secretary of education.
Rajeeva Laxman Karandikar named as chairperson of the National Statistical Commission
Rajeeva Laxman Karandikar named as chairperson of the National Statistical Commission: Rajeeva Laxman Karandikar, Professor Emeritus at Chennai Mathematical Institute (CMI), has been appointed as the part-time head of India’s National Statistical Commission (NSC) for a three-year term. He will take up this role as an additional responsibility while continuing as Professor Emeritus at CMI. He joined CMI as a visiting professor in 2010, and officiated as the Director of CMI from January 2011 to April 2021.
December 2022 Current Affairs Quiz
Who is Rajeeva Laxman Karandikar?
- Mr. Karandikar is widely known for his three decades of work on probability theory as well as applications of mathematics and statistics to real world questions.
- Since 1998, he has designed, overseen, and analysed nationwide opinion surveys for Indian legislative elections as well as State assemblies. He is known for developing a new model and methodology for seat prediction, which has been quite successful for over the last 20 years.
- Mr. Karandikar was a member of the committee constituted by the Election Commission (EC) of India to advice the EC on the sampling scheme for EVM-VVPAT verification.
National Statistical Commission (NSC) of India:
The National Security Council (NSC) is an autonomous organisation established in June 2005 on the proposal of the Dr. C Rangarajan commission. The objective of its constitution was to reduce the problems faced by statistical agencies in the country with respect to the collection of data, and strengthen public trust in the numbers released by the Government of India. The Commission’s chairperson is a Minister of State in the Government of India.
Reserve Bank of India implements 4 tiered regulatory norms for UCB
Reserve Bank of India implements 4 tiered regulatory norms for UCB: The Reserve Bank of India (RBI) has announced a four-tiered regulatory framework for categorisation of Urban Co-operative Banks (UCBs). Besides, the central bank has come out with norms pertaining to the net worth and capital adequacy of these banks.
December 2022 Current Affairs Quiz
The Reserve Bank of India had constituted the Expert Committee on Urban Co-operative Banks, under the Chairmanship of Shri N. S. Vishwanathan, former Deputy Governor, Reserve Bank to examine the issues in urban cooperative banking sector and to review regulatory/ supervisory approach for strengthening the sector.
Based on the recommendations of the Expert Committee, RBI had released the Revised Regulatory Framework for Urban Co-operative Banks (UCBs) on July 19, 2022. The four-tiered regulatory framework, based on size of deposits of the UCBs, will come into force with immediate effect.
Vijender Sharma elected as the President of the Institute of Cost Accountant of India
Vijender Sharma elected as the President of the Institute of Cost Accountant of India: The Institute of Cost Accountants of India said that Vijender Sharma has been elected as the new president and Rakesh Bhalla as vice-president for 2022-23. The institute, which is a statutory body set up under an Act of Parliament, comes under the administrative control of Union Ministry of Corporate Affairs. Mr. Vijender Sharma was Vice President and CMA Rakesh Bhalla was Central Council member and Chairman of Direct Tax Committee of the Institute in previous term 2021-22.
December 2022 Current Affairs Quiz
The Institute of Cost Accountants of India (ICAI-CMA) is a statutory body constituted under an act of the Parliament and is the regulator for the profession of Cost and Management Accountancy in India. Its qualified members are specialized in the field of Costing, Valuation, Insolvency Bankruptcy Code-2016 and Goods & Services (GST) Acts. The institute is also member of International accounting bodies. Having more than 60000 qualified members across the world.
Static/Current Takeaways Important For All Exam 2022:
- Institute of Cost Accountants of India Founded: 28 May 1959;
- Institute of Cost Accountants of India Headquarters: Kolkata, India.
Rs. 1,45,867 crore gross GST revenue collected for November 2022
Rs. 1,45,867 crore gross GST revenue collected for November 2022: Goods and Services Tax (GST) collections for the month of November 2022 stood at Rs 1,45,867 crore, according to the data shared by finance ministry. The revenue for the month of November are 11% higher than the GST revenue in the same month last year, which itself was Rs 1,31,526 crore. This is the ninth straight month when collections from GST has remained above Rs 1.40 lakh crore.
December 2022 Current Affairs Quiz
The gross GST revenue collected in November 2022 came in at Rs 1,45,867 crore of which CGST is Rs 25,681 crore, SGST is Rs 32,651 crore, IGST is Rs 77,103 crore (including Rs 38,635 crore collected on import of goods) and Cess is ₹10,433 crore (including Rs 817 crore collected on import of goods). The government has settled Rs 33,997 crore to CGST and Rs 28,538 crore to SGST from IGST as regular settlement.
