1. Three American gets Nobel Prize for Economics for their research in preventing bank collapse
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The Royal Swedish Academy of Science has awarded three American economists Ben Bernanke, Douglas Diamond and Philip Dybvig, the Nobel Prize in economics 2022 for their pioneering work on “improving our understanding of the role of banks in the economy, particularly during financial crises and why avoiding bank collapses is vital.” The Sveriges Riksbank Prize in Economic Sciences for 2022 was announced 10th October 2022.
Ben Bernanke
According to the Nobel committee ““Through statistical analysis and historical source research, Bernanke demonstrated how failing banks played a decisive role in the global depression of the 1930s, the worst economic crisis in modern history. The collapse of the banking system explains why the downturn was not only deep, but also long-lasting. It added the importance of well-functioning bank regulation is also understood thanks to this research.
Ben Bernanke was the chairman of the United States Central Bank, Federal Reserve in 2008 when the failure of Lehman Brothers sparked a worldwide financial crisis.
Douglas W Diamond and Philip H Dybvig
Both Diamond and Dybvig worked together to develop theoretical models explaining why banks exist, how their role in society makes them vulnerable to rumours about their impending collapse, and how society can lessen this vulnerability. These insights “form the foundation of modern bank regulation,” said the Academy.
Nobel Prize in Economics
The economics prize is not one of the original five awards created in the 1895 will of industrialist and dynamite inventor Alfred Nobel.
It was established by Sweden's Central Bank, Sveriges Riksbank in 1968 and the first prize was given in 1969 to Ragnar Frisch of Norway and Jan Tinbergen of Netherlands.
The prize money of 10 million Swedish crown ($885,000) prize money will be distributed between them three.
The prize will be conferred in a ceremony in Stockholm, Sweden on 10 December which is the death anniversary of Alfred Nobel.
Nobel Prize Winner 2022
Field | Winner 2021 | Winner 2022 |
Medicine or Physiology | David Julius (American) and Ardem Patapoutian(American) | Svante Paabo of Sweden |
Chemistry | Benjamin List (Germany)and David W.C. MacMillan(United Kingdom) | Carolyn Bertozzi, Morten Meldal and Barry Sharpless |
Physics | Syukuro Manabe(Japan), Klaus Hasselmann (Germany)and Giorgio Parisi(Italy) | Alain Aspect(France), John Clauser(American) and Anton Zeilinger(Austria) |
Literature | Abdulrazak Gurnah(United Kingdom) | Annie Ernaux of France |
Peace | Maria Ressa(Philippines ) and Dmitry Muratov(Russia) | Ales Byalyatski(Belarus), Memorial Group(Russia) and Center for Civil Liberties (Ukraine) |
Economics | David Card, Joshua D. Angrist and Guido W. Imbens (All are Americans) | Ben Bernanke,Douglas Diamond,Philip Dybvig ( All are American) |
2. SP founder Mulayam Singh Yadav passes away
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Samajwadi Party founder Mulayam Singh Yadav passed away while undergoing treatment at Medanta hospital in Gurugram on 10 October. He was 82.
Important facts
Mulayam Singh Yadav's condition was "very critical" for the past few weeks and he was on life-saving drugs.
Mulayam Singh Yadav born on November 22, 1939 in Etawah, was a senior Indian politician and Samajwadi Party supremo.
He was representing the Azamgarh constituency of Uttar Pradesh.
Presently he was MP from Mainpuri Lok Sabha seat.
He emerged in the politics of Uttar Pradesh during a period of intense social and political upheaval after the 1970s.
He was a three-time Uttar Pradesh chief minister.
He took oath as the 15th CM of UP in 1989, after which the Congress failed to return to power in the state.
After the 1989 UP elections, Mulayam took over as chief minister with the outside support of the BJP as the leader of the Janata Dal.
He became chief minister for the second time as an SP leader in 1993, when the Kanshi Ram-led Bahujan Samaj Party (BSP) became his ally.
He took oath as chief minister for the third time in 2003 as the leader of the SP-led coalition.
He was the Chief Minister for a period of about six years and 9 months during the three terms.
He was first elected MLA from Jaswantnagar in Etawah as a candidate of Samyukta Socialist Party (SSP) in 1967 but lost the election in 1969 to Bishambhar Singh Yadav of Congress.
He was elected 10 times as MLA and seven times as MP from Mainpuri and Azamgarh.
3. Pankaj Advani wins his 25th World title at Kuala Lumpur
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Pankaj Advani of India defeated Sourav Kothari in the final of the 2022 IBSF World Billiards Championship, to win his 25th World title.
The final of the 2022 IBSF World Billiards Championship was held in Kuala Lumpur, Malaysia on 8 October 2022.
Pankaj Advani has won the World Billiards title for five times in a row.
Pankaj Advani has now won 25 world titles. No other Indian sportsperson has won so many world titles in any sport.
Cue Sport
Cue sport is played on a table where a cue (stick) is used to hit the balls. Snooker, Billiards, and pool are some famous cue sports in the world.
4. Rajya Sabha Deputy Chairman Harivansh to lead Indian delegation at the 145th IPU Assembly in Rwanda
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Deputy Chairman of Rajya Sabha, Harivansh will lead the 12 member Indian Parliamentary delegation to the 145th Assembly of the Inter-Parliamentary Union (IPU) to be held in Kigali, Rwanda.
The 145th IPU Assembly is being hosted by the Parliament of Rwanda at Kigali from 11-15 October 2022.
The theme of the 145th IPU Assembly: Gender equality and gender-sensitive parliaments as drivers of change for a more resilient and peaceful world.
Rwanda is the first country in the world with a female majority in Parliament. 61.3% members in the Chamber of Deputies and 36% in the Senate are women.
The Parliament of Rwanda consists of the Senate and Chamber of Deputies.
Inter-Parliamentary Union (IPU)
The Inter-Parliamentary Union was set up in 1889. It is a global organization of national parliaments dedicated to promoting peace through parliamentary diplomacy and dialogue.
At present it has 178 member Parliaments and 14 Associate members.
Headquarters: Geneva, Switzerland.
President: Saber Hossain Choudhary of Bangladesh
Every year 30 June is observed as International Day of Parliamentarians .
5. Nitin Gadkari and Yogi Adityanath jointly inaugurates Indian Roads Congress in Lucknow
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Union Minister of Road Transport and Highways Nitin Gadkari along with Uttar Pradesh Chief Minister Yogi Adityanath jointly inaugurated the 81st annual session of the Indian roads Congress in Lucknow on 8 October 2022.
The 81st Indian roads Congress is being hosted by the Uttar Pradesh government in Lucknow from 8-11 October 2022.
Speaking on the occasion Nitin Gadkari announced road projects worth eight thousand crore rupees for Uttar Pradesh including 13 Road Over Bridges with the fund of one thousand crore rupees.
Road Congress will discuss modern techniques in road construction and it will have many sessions regarding it.
The Indian Roads Congress (IRC) is the Apex Body of Highway Engineers in the country. The IRC was set up in December, 1934 on the recommendations of the Indian Road Development Committee best known as Jayakar Committee set up by the Government of India with the objective of Road Development in India.
6. Centre set up a committee to consider ‘Scheduled Caste’ status for converted dalits
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Center has set up a committee to consider SC status for Converted Dalits new persons who have historically belonged to the Scheduled Castes’’ but have converted to religions other than Hinduism, Buddhism and Sikhism”. The committee has been set up by the Union Ministry of Social Justice and Empowerment.
Head of the committee
The three member committee will be headed by former Chief Justice of India K G Balakrishnan. It includes retired IAS officer Dr Ravinder Kumar Jain and UGC member Prof (Dr) Sushma Yadav as members.
The commission will have to submit its report to the Ministry in two years.
What is the issue?
The Constitution (Scheduled Castes) Order, 1950, stipulates that no person professing a religion different from Hinduism, Sikhism or Buddhism can be deemed to be a member of a Scheduled Caste. The original order under which only Hindus were classified was later amended to include Sikhs and Buddhists.
However many Scheduled caste persons who converted to Islam and Christianity are demanding that they should also be included in the list as they continue to face discrimination.
A Public Interest Litigation (PIL) has been filed in the Supreme Court by the National Council of Dalit Christians (NCDC), demanding the status of Scheduled Caste for converted dalits. In August 2022, the Supreme Court had directed the Centre to submit its current position on the issue.
The new commission has been set up by the government so that it can present its view on the matter before the court.
Union Minister for Social Justice and Empowerment: Virendra Kumar
7. Union Environment Ministry has set up Cheetah Task force headed by Alok Kumar
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The Union Ministry of Environment, Forest and Climate Change has constituted a 9 member task force on 7 October 2022 to monitor cheetah introduction in Kuno National Park, Madhya Pradesh. It will be headed by Alok Kumar, Retd. Principal Chief Conservator of Forests (Wildlife) & Chief Wildlife Warden, Madhya Pradesh,
According to the ministry the task force has been constituted for a period of 2 years and will “review, progress and monitor the health status of Cheetah, upkeep of the quarantine & soft release enclosures, protection status of entire area, adherence to the defined protocols by forest & veterinary officials and advice on Cheetah introduction in India to the Madhya Pradesh Forest Department and NTCA on status of Cheetah with respect to overall health, behaviour and their upkeep.”
The National Tiger Conservation Authority (NTCA) would facilitate the working of the Cheetah Task Force and render all necessary help.
On 17 September 2022 the Prime Minister Narendra Modi released 8 wild cheetahs of Namibia in the Kuno National Park in an ambitious effort to repopulate the Indian wildlife with cheetahs. Cheetah was officially declared extinct in India in 1952.
Union Minister for Environment Forest and Climate Change: Bhupendra Yadav
8. Divyangana Sharma and Ritika Saxena have been honoured with the prestigious Victorian Premier Award.
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Two Indian students, Divyangana Sharma and Ritika Saxena have won the prestigious Victorian Premier's award. Divyangana Sharma has won the coveted Victorian Premier's Award - International Student of the Year 2021-22, while Ritika Saxena won the International Student of the Year award in the Research category.
Divyangana has also won Victorian International Education Awards 2021-22 in the Higher Education category. Divyangana Sharma came to Melbourne to study nursing at Holmesglen Institute in February 2020.
Ritika moved to Melbourne as an 18-year-old and is now a PhD student involved in stem cell research,
Victoria
Victoria is one of the six states of Australia. It is the second largest state of Australia after New South Wales.
Like all states of Australia, it has a constitution of its own.
The head of the Victorian government is called Premier.
The current Premier is : Daniel Andrews
Capital of Victoria: Melbourne
9. Harmanpreet singh wins consecutive FIH male player of the year award
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India’s men Hockey team player, Harmanpreet Singh was voted the men’s FIH Player of the Year 2021-22. This was announced by the International hockey regulator, FIH on 7 October 2022 at Lausanne.
Harmanpreet Singh became the fourth player after Belgium’s Teun De Nooijer and Arthur van Doren and Australia’s Jamie Dwyer to win the award in the men’s category in two consecutive years.
Harmanpreet Singh was the top goal scorer in the FIH Hockey Pro League 2021-22 with 18 goals .
Others Indian to win the 2021-22 award
Earlier , Mumtaz Khan was named the FIH women rising star player of the year 2021-22 .
PR Sreejesh and Savita Punia were named as the FIH Men’s and Women’s Goalkeeper of the Year 2021-22 for the second year in a row.
Female FIH player of the year 2021-22
Dutch player Felice Albers, was voted the female’s FIH player of the year 2021-22.
FIH
FIH (Fédération Internationale de Hockey) is the governing body of men’s and women’s International hockey.
Headquarters: Lausanne, Switzerland
Acting President: Seif El Dine Ahmed
10. A Belarussian political dissident and civil rights organisation of Ukraine and Russia wins Nobel Peace Prize 2022
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Jailed Belarusian political dissident Ales Byalyatski, banned Russian civil rights organisation Memorial and Ukrainian group Center for Civil Liberties were named the winners of the Nobel Peace Prize 2022 announced on 7 October 2022.
The Norwegian Nobel Committee in a statement said that it “wishes to honour three outstanding champions of human rights, democracy and peaceful co-existence in the neighbour countries Belarus, Russia and Ukraine."
The Nobel Prize in Physics, Chemistry, Medicine, Literature and Economics are announced by the Swedish Nobel Committee while the Peace prize is announced by the Norwegian Nobel Committee.
The award is seen as a return to the cold war era when the critic and dissident of the Soviet Union were given Nobel Prize by Norwegian committee so as to embarrass the Soviet Union. Russia which is the successor state of the Soviet Union is currently in a conflict with Ukraine and the Belorussian President Alexander Lukashenko is a close ally of Russian President Vladimir Putin.
Award Winners 2022
Ales Byalyatski, is a human right activist ,an opponent of Lukashenko and he was detained last year. by the government.
Memorial is a Russian organisation which works for human rights and civil liberties. It was a fierce critic of Vladimir Putin and it has been banned in Russia.
Center for Civil Liberties is an independent Ukrainian human rights organisation, which is also focused on fighting corruption.
2021 Nobel Peace prize winners
In 2021 the Nobel Peace prize was given to Maria Ressa of Philippines and Dmitry Muratov of Russia.
India’s who have won the Nobel Peace Prize
- Mother Teresa (original name; Mary Teresa Bojaxhiu) won the peace prize in 1979.
- Kailash Satyarthi won the prize with Malala Yousafzai of Pakistan in 2014.
The Nobel Peace Prize which is worth 10 million Swedish crowns, or about $900,000, will be presented in Oslo, Norway on 10 December. 10 December is the death anniversary of the Swedish industrialist Alfred Nobel, who founded the awards in his 1895 will.
