1. Nirmala Sitharaman among 6 Indians on Forbes list of world's most powerful women
Tags: Reports International News
Forbes on December 7 released its annual list of the 100 Most Powerful Women in the World, 2022, in which six women from India feature.
Important facts
It includes Finance Minister Nirmala Sitharaman along with Biocon Executive Chairperson Kiran Mazumdar-Shaw, HCL Tech Chairperson Roshni Nadar Malhotra and Nykaa CEO Falguni Nair along with two more names.
The Finance Minister of India has been included in this list for the fifth time in a row.
This list also includes 39 CEOs and 10 heads of state, apart from this it includes 11 billionaires, whose total assets are $ 115 billion.
The list was determined by four main metrics: money, media, impact and spheres of influence.
Name of six Indians
Union Finance Minister Nirmala Sitaraman - ranked 36, is on the list for the fourth time in a row.
Roshini Nadar Malhotra, Chairperson of HCLTech - ranked 53rd.
Madhabi Puri Buch, Chairperson of the Securities and Exchange Board of India (SEBI) -ranked 54th.
Soma Mondal, Chairperson of the Steel Authority of India - ranked 67.
Mazumdar-Shaw, executive chairperson and founder of Biocon Limited and Biocon Biologics Limited - ranked 72.
Falguni Sanjay Nayar, the founder and CEO of the beauty and lifestyle retail company Nykaa - ranked 89th.
Top 3 women in the world in Forbes list
The list was topped by European Commission President Ursula von der Leyen, who played a key role in handling COVID -19 crisis, the Russia-Ukraine war, etc.
European Central Bank President Christine Lagarde stood at second position on the list.
US Vice President Kamala Harris ranked third on the list.
Iran's Zina "Mahsa" Amini was posthumously ranked 100th on the influential list. His death in September sparked one of Iran's worst public protests.
2. U.N. Convention on Biological Diversity, COP 15 commences in Montreal, Canada
Tags: Environment place in news Summits International News
The United Nations Convention on Biological Diversity, known as Conference of Parties (COP-15) commenced in Montreal, Canada on 7 December 2022. The two weeklong conference (7-19 December 2022) was originally scheduled to be held in Kunming, China in October but was shifted to Montreal, Canada due to covid situation in China.
This is the second part of the COP15. The first part was hosted by China on 18 August 2021 virtually and the second part was to be held in a face to face conference but it has been shifted from China to Canada. However the host of the COP15 in Montreal is still China.
The Conference focuses on saving the nature
The Biological diversity conference focuses on nature. It is different from the UNFCCC (United Nation Framework Convention on Climate Change ) organised Conference of Parties(CoP) which focuses on the problem of global warming and climate change due to emission of greenhouse gasses.
The Biological Diversity conference will focus on nature and how to stop and reverse the degradation of our nature by 2030.
Main issues that will be discussed at the Montreal conference are;
- One of the most notable draft targets is to conserve 30% of land and sea areas globally by 2030.
- It will aim to adopt a global framework for biodiversity to halt and reverse losses of the world's plants, animals, and ecosystems.
- Fair and equitable sharing of the benefits of natural genetics resources.
United Nation Convention on Biological Diversity
It is a multilateral treaty which was signed by the countries at the Earth Summit in Rio de Janeiro in 1992. It came into force on 29 December 1993. At present 194 countries are its signatories.
It has 3 main objectives:
- The conservation of Biological diversity
- The sustainable use of the components of biological diversity
- The fair and equitable sharing of the benefits arising out of the utilization of genetic resources.
Conferences of the Parties/COP
- Countries which have signed the conventions are called Conferences of the Parties. The meeting of the Conferences of the Parties is also called COP
- The first COP -1 was held in Nassau, Bahamas 1994.
- The 14th meeting was held in Sharm El Sheikh, Egypt (17-19 November 2018)
- It is held after every two years but due to covid it was held in 2021.
3. Indiana sues social media app 'TikTok' over data security, inappropriate content
Tags: International News
Indiana's attorney general on 7 December sued Chinese-owned social media app TikTok, claiming it misled its users, particularly children, about the level of inappropriate content and security of consumer information.
Important facts
Indiana's attorney general Todd Rokita has accused TikTok's parent company ByteDance of violating the state's consumer protections laws.
Indiana is a US state in the Midwestern United States.
Two lawsuits have been filed in the US on Tiktok. The first lawsuit claimed the app provided inappropriate content to young users.
The second complaint alleges that TikTok does not disclose the Chinese government's ability to access sensitive consumer information.
The announcement of the lawsuits comes after other US states drafted legislation to ban TikTok.
Meanwhile, Texas, South Dakota and South Carolina have banned the use of TikTok from being used on state government equipment.
About TikTok
This is owned by ByteDance, a Chinese company that moved its headquarters to Singapore in 2020.
The app has been targeted by Republicans who say the Chinese government could access its user data like browsing history and location.
US armed forces also have prohibited the app on military devices.
Tiktok has been banned in India too in 2021.
4. Dina Boluarte assumes office as first female President of Peru
Tags: Person in news International News
Peru's President Pedro Castillo has been impeached. In his place, Vice President Dina Boluarte has been sworn in as President on 7 December. Dina is the first female President of the country. She will hold the post till 2026.
Important facts
In the 130-member parliament, 101 voted in favor of the motion, while only 6 voted in support of the president. 10 MPs abstained from voting.
Francisco Morales, head of Peru's constitutional court, ordered Vice President Dina Boluaarte to assume the presidency in a speech before parliament voted on an impeachment motion.
Police have taken Pedro Castillo into custody in the capital Lima.
Pedro Castillo was elected as the President of Peru in July 2021.
While in office, he faced an investigation over allegations of corruption.
About Peru
President - Dina Boluarte
Capital - Lima
Currency - sole
5. Govt cancelled over 6600 FCRA License of various NGOs across country
Tags: National News
The government has cancelled over six thousand six hundred Foreign Contribution (Regulation) Act (FCRA) licences of various NGOs across the country during 2017 to 2021.
Important facts
In a written reply in the Rajya Sabha, Minister of State for Home Affairs Nityanand Rai informed this on 7 December.
Maximum FCRA licences have been cancelled in Tamil Nadu and Maharashtra with more than seven hundred.
Whereas, more than six hundred licences have been cancelled in Uttar Pradesh, Andhra Pradesh and West Bengal. The list also includes the Rajiv Gandhi Foundation and the Rajiv Gandhi Charitable Trust.
These NGOs were violating the various provisions of the FCRA Act.
NGOs whose FCRA registration has been cancelled under FCRA shall not be eligible for registration or grant of prior permission for a period of three years from the date of cancellation of registration.
What is FCRA?
The Foreign Contribution Regulation Act 2010 regulates the receipts of foreign contribution foreign contribution received by certain Individuals, companies, Political Parties, association or NGO resident in India .
The government can ban receipt of foreign contributions if it feels that it harms the national interest.
It can also cancel the license of the Associations, NGO if they do not follow the procedure mentioned in the law.
The law is administered by the Union Ministry of Home Affairs.
6. Dr. Mansukh Mandaviya Inaugurates FAI Annual Seminar at New Delhi
Tags: Summits National News
Union Minister of Chemicals and Fertilizers, and Health and Family Welfare, Dr Mansukh Mandaviya inaugurated Fertiliser Association of India (FAI) Annual Seminar 2022 (Fertilizer Sector by 2030) at New Delhi on 7 December.
Important facts
Arun Singhal, Secretary Department of Fertilizers, Arvind Chaudhary, DG FAI, KS Raju, Chairman FAI and representatives of Industries and other senior officials of the Ministry were also present on the occasion.
Dr Mansukh Mandaviya stated that one of the important components for ensuring food security is fertilizers.
There has been a huge increase in the prices of fertilizers and raw materials during the last three years.
The government has made various reforms and has ensured that fertilizers are made available to Indian farmers at affordable prices.
The Government has increased the amount of fertilizer subsidy from US dollars 10 Billion for the pre-pandemic year 2019-20 to almost US dollars 27 Billion in the current year.
Government has signed various MoUs between Indian fertilizer companies and foreign suppliers to ensure stability in fertilizer supply to farmers.
On this occasion, the Union Minister also released three FAI publications and FAI Data portal.
This portal will create a uniform database and avoid manual input of data by FAI.
Theme of FAI Annual Seminar
Seminar is devoted to the theme ‘Fertilizer Sector by 2030’.
In the seminar there will be a presentation on technologies for green fertilizers, worldwide developments in sustainability area, sustainable agriculture, green financing and optimising cost of logistics.
About Fertiliser Association of India
It is a non-profit and non-trading company representing mainly the fertiliser manufacturers, distributors, importers, equipment manufacturers, research institutes and suppliers of inputs.
The Association was established in 1955 with the objective of bringing together all concerned with the production, marketing and use of fertilisers.
7. Volodymyr Zelensky and “Spirit of Ukraine” is the is Time Magazine's 2022 Person of the Year
Tags: Person in news International News
The prestigious American magazine ‘Time’ has named Ukrainian president Volodymyr Zelensky and "the spirit of Ukraine" as its 2022 Person of the Year.
The Time person of the year award goes to an event or person deemed to have had the most influence on global events over the past 12 months. In 2021 Elon Musk was the Time person of the Year.
The Time magazine editor Edward Felsenthal wrote that "spirit of Ukraine" referred to Ukrainians around the world, including many who "fought behind the scenes" against the Russian invasion.
The magazine said Mr Zelensky had inspired Ukrainians and was recognised internationally for his courage in resisting the Russian invasion.
Time Heroes of the Year
Women in Iran were named the Time Heroes of the Year. Iranian women who are protesting for over three months against the custodial death of 22-year-old Mahsa Amini. She was arrested for not wearing hijab publicly and she died while in the custody of the Iranian morality police. Her death has triggered a mass protest from the Iranian women against public wearing of Hijab and the morality police.
Other Awards
The South Korean K-pop band Blackpink were recognised as Time's Entertainer of the year.
American baseball player Aaron Judge has been recognised as the Athlete of the Year and Malaysian actress Michelle Yeoh is the Icon of the Year.
Indian to be named the Time person of the Year
Mahatma Gandhi is the only Indian to be named TIME Person of the Year, having been given the honour in 1930. The magazine described him as 'Saint Gandhi' and later named him as one of the 25 Political Icons of all time.
The tradition of naming Time person of the year started in 1927. Initially it was named the Time Man of the Year. Other past winners have included the former dictator of Germany, Adolf Hitler in 1938, and Russian President Vladimir Putin, who was 2007's Person of the Year.
8. NSIC signs MoU with Walmart
Tags: Economy/Finance National News
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An MoU was signed between Walmart Global Sourcing India Private Limited and The National Small Industries Corporation (NSIC) Limited on 6th December, 2022.
Important facts
The MoU was signed at the Walmart Vriddhi Seller Summit in New Delhi.
The Walmart Vriddhi Seller Summit is an event to achieve a record 20,000 MSMEs who have completed their training under the Walmart Vriddhi Supplier Development Program (Walmart Vriddhi) of which Swasti is a program partner.
The MoU was signed by Gaurang Dixit, Chairman and Managing Director, NSIC and Prameela Mallaiah, Director and Hub Leader, Walmart in the presence of Union Minister of MSME Narayan Rane.
The MoU aims to jointly accelerate capacity building for micro, small and medium enterprises (MSMEs) across India.
The partnership is also aimed at supporting MSMEs in their journey to become a part of retail supply chains, locally and globally.
The partnership with NSIC will enable a large number of small businesses and entrepreneurs in India to access the Vriddhi program.
The Vridhi program provides training and an end-to-end learning platform, along with access to the support needed to grow and expand businesses.
National Small Industries Corporation (NSIC)
It is an ISO 9001:2015 certified Government of India Enterprise under Ministry of Micro, Small and Medium Enterprises (MSME).
It is working to promote and assist the development of micro, small and medium enterprises in the country.
It was established in 1955.
Headquarters - New Delhi
9. Armed Forces Flag Day celebrated in India
Tags: Important Days National News
The Armed Forces Flag Day is observed on 7th of December every year to honour the martyrs and the Armed Forces personnel who safeguard the motherland.
Important facts
The day is dedicated towards collection of funds from people for the welfare of the Armed Forces personnel.
The fund collected on this day is also used for the welfare of the serving personnel and ex-servicemen.
The day also pays tribute to the thousands of men who have died defending the country.
This day is observed to honour Indian soldiers, sailors, and pilots.
The day also reminds the citizens to care for the living heroes who were either wounded in action or retired from service at a fairly young age.
Background of the day
The Defense Minister's Committee on August 28, 1949, created the Armed Forces Flag Day Fund.
Hence, a committee was set up on August 28, 1949 that decided a Flag Day shall be celebrated annually on December 7.
The reason it was called a flag day was because small flags were distributed across the country among the general population which served two purposes – collection of welfare funds and creating a sense of camaraderie and harmony between the Army and citizens.
10. RBI's monetary policy - RBI hikes repo rate by 35 basis points (bps)
Tags: Economy/Finance National News
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The Reserve Bank of India (RBI) on 7 December raised its key repo rate, or the key lending rate, by 35 basis points (bps) to 6.25%, to curb lingering inflation pressures. This is the fifth time in a row that the RBI has increased the repo rate this year.
Important facts
The decision was announced by the six-member Monetary Policy Committee (MPC) headed by Reserve Bank of India (RBI) Governor Shaktikanta Das.
Earlier, the RBI had increased the repo rate by 40 bps in May and 50 bps each in June, August and September.
The RBI policy rate is now at its highest level since August 2018.
The RBI also cut the growth forecast for the current financial year to 6.8 per cent.
Standing deposit facility (SDF) rate stands adjusted to 6.00 per cent.
The marginal standing facility (MSF) rate and the bank rate have been kept at 6.50 per cent.
In FY23 Consumer Price Index (CPI) estimate at 6.7 per cent. It remains unchanged.
