Today's Current Affairs-1st December 2022

INTERNATIONAL

Great Barrier Reef risks 'in danger' World Heritage listing

• A UN-backed mission to the Great Barrier Reef has concluded the world’s biggest coral reef system should be placed on a list of world heritage sites in danger.
• The long-awaited report on the 10-day mission that took place in March said climate change was presenting a “serious challenge” to the values that saw the reef inscribed as a global wonder in 1981.
• Progress to cut pollution running into the reef’s waters from farming and grazing was too slow and more investment was needed to meet water quality targets, the report from the mission said.
• The report’s recommendation the reef be placed on a list of world heritage sites “in danger” will be taken into account alongside responses from the Queensland and federal governments before Unesco makes a formal recommendation to the world heritage committee before its next meeting.
• The reef mission was carried out at the request of former federal environment minister Sussan Ley after the former government successfully lobbied against a 2021 Unesco recommendation the reef should be placed on the “in danger” list.
• Two experts – one from Unesco and another from the International Union for Conservation of Nature – met the government, scientists and stakeholders in Queensland two months before the defeat of the Morrison government.

 NATIONAL

India to illuminate 100 iconic monuments with G20 logo from 1-7 dec

• India will formally take over the G-20 presidency today, December 1. Several events will be held across the country including the lighting of 100 monuments with the G-20 logo to mark the occasion.
• The logo draws inspiration from the vibrant colours of India’s national flag. It juxtaposes planet Earth with India’s national flower Lotus, which reflects growth amid challenges. The Earth reflects India’s pro-planet approach to life, one in perfect harmony with nature. Below the G20 logo is written Bharat, in the Devanagari script.
• AIR correspondent reports, the theme of India’s G20 Presidency is Vasudhaiva Kutumbakam or One Earth One Family One Future. The theme affirms the value of all life - human, animal, plant, and microorganisms and their interconnectedness on the planet Earth and in the wider universe.

 OBITURY

Former Chinese President Jiang Zemin dies at 96

• Former Chinese President Jiang Zemin has died at the age of 96, Jiang died on Wednesday from leukaemia and multiple organ failure in the city of Shanghai, the official Xinhua news agency said, publishing a joint letter to the Chinese people by the ruling Communist Party, parliament, cabinet and the military, announcing the death.
• Flags at major Chinese Communist Party (CCP) and government buildings in China and worldwide will be flown at half-mast, state media reported.
• Jiang was plucked from obscurity to head the CCP after the bloody Tiananmen crackdown on pro-democracy protesters in 1989, but broke the country out of its subsequent diplomatic isolation, mending fences with the United States and overseeing an unprecedented economic boom.

 APPOINTMENS & RESIGNATIONS

Ex-Health Secretary Preeti Sudan appointed UPSC member

• Andhra Pradesh cadre IAS officer and former health secretary, Preeti Sudan has took the oath of office and secrecy as Member, UPSC. The oath was administered to her by the UPSC chairman Dr Manoj Soni. Sudan superannuated as the Union Health Secretary in July, 2020. She also served as Secretary, Department of Food & Public Distribution, and in Women and Child Development and Defence Ministries.
• Preeti Sudan is an M.Phil in Economics & MSc in Social Policy and Planning from LSE. Amongst her notable contributions have been initiating two major flagship programmes of the country, i.e., Beti Bachao, Beti Padhao and Ayushman Bharat, apart from Legislation on National Medical Commission, Allied Health Professionals Commission & ban on E-cigarettes. Sudan was also a Consultant with the World Bank. She served as Chair of COP-8 of Framework Convention on Tobacco Control, Vice Chair of Partnership for Maternal, Newborn and Child Health, Chair of Global Digital Health Partnership and as member of WHO’s Independent Panel for Pandemic Preparedness and Response.

Senior journalist Ravish Kumar resigns from NDTV amid Adani takeover

• A senior journalist, Ravish Kumar has resigned from NDTV according to news sources. This comes just a day after the channel’s founders and promoters Prannoy Roy and Radhika Roy resigned from their positions as directors on the board of RRPR Holding Private Limited (RRPRH). The senior jounalists resignation come after the news channel was acquired by the Adani Group, and holds 29.18% stake in the news channel.
• Prannoy Roy and his wife Radhika Roy had resigned as Directors on the Board of RRPR Holding Private Limited just yesterday, the company said in a regulatory filing on Tuesday. The board of RRPR Holding has approved the appointment of Sudipta Bhattacharya, Sanjay Pugalia and Senthil Sinniah Chengalvarayan as Directors on its board with immediate effect.
• Kumar, a winner of the Ramon Magsaysay award, used to host a number of programs including the channel’s flagship weekday show Hum Log, Ravish ki Report, Des Ki Baat, and Prime Time. He has also been conferred with the Ramnath Goenka Excellence in Journalism Award twice.

 IMPORTANT DAYS

World AIDS Day 2022:1^st December

• Every year, on 1 December, the world commemorates World AIDS Day. People around the world unite to show support for people living with and affected by HIV and to remember those who lost their lives to AIDS. The day raise awareness and to unite people worldwide in the fight against the global health issue of acquired immunodeficiency syndrome. The day provides an opportunity for people worldwide to unite in the fight against HIV, to show support for people living with HIV and to commemorate those who have died from an AIDS-related illness.
• The World AIDS Day theme for 2022 is “equalize”. According to UNAIDS, “The slogan is a call to action. It is a prompt for all of us to work for the proven practical actions needed to address inequalities and help end AIDS.
• World AIDS Day is significant to fight the stigma around it and focus on providing care and support for those who are already living with the disease. Like with most major public health issues, the HIV pandemic has only been presented with further challenges due to the Covid-19 pandemic.

Border Security Force to celebrate its Raising Day on 1st Dec 2022

• India celebrates the 58th BSF Raising Day (1st December) in 2022. This is for the first time that the Raising Day Parade of India’s first line of defense is being held in Punjab and the second time outside the national capital. The 58th Raising Day Parade of the Border Security Force (BSF) will be held on December 4 on Guru Nanak Dev University campus.
• Formed in 1965, the primary role of the BSF lies in securing the borders of India shared with Bangladesh and Pakistan. The Border Security Force (BSF) comprises Indian armed personnel dedicated to protecting the sovereignty and integrity along the Indo-Bangladesh and the Indo-Pakistan borders.
• From BSF Raising Day, personnel roll across Gujarat, Rajasthan, Punjab, Jammu and Kashmir, securing the LoC (Indo-Pakistan border) from rogue elements trying to infiltrate along the western borders.
• They operate in West Bengal, Meghalaya, Assam, Mizoram, and Tripura along the Indo-Bangladesh border. The jurisdictions of BSF empower them to act within 50-km of the international border in these states.

 RANKING

Gautam Adani tops Forbes list of 100 richest Indians

• The world economy may be slowing but India’s richest have grown even richer this year. The Forbes 2022 list of India’s 100 richest is finally here, according to which, the combined wealth of India’s 100 richest grew by $25 billion to touch a colossal $800 billion. The top 10 richest Indians are worth a cumulative $385 billion. Adani Group chairman Gautam Adani has bagged the top spot on the list with a net worth of $150 billion. According to Forbes, the gain was largely due to a record-breaking feat by infrastructure tycoon, which changed the pecking order at the top for the first time since 2008.

Top 10 Richest person:

RANK	NAME	NET WORTH
1	Gautam Adani	Rs 1,211,460.11 crore
2	Mukesh Ambani	Rs 710,723.26 crore
3	Radhakishan Damani	Rs 222,908.66 crore
4	Cyrus Poonawalla	Rs 173,642.62 crore
5	Shiv Nadar	Rs 172,834.97 crore
6	Savitri Jindal	Rs 132,452.97 crore
7	Dilip Shanghvi	Rs 125,184.21 crore
8	Hinduja Brothers	Rs 122,761.29 crore
9	Kumar Birla	Rs 121,146.01 crore
10	Bajaj Family	Rs 117,915.45 crore

 

BANKING AND ECONOMY

SBI board approves infrastructure bonds worth ₹10,000 cr

• State Bank of India plans to raise Rs 10,000 crore worth of infrastructure bonds during the current financial year. SBI confirmed the meeting of the Executive Committee of the Central Board of State Bank of India to seek approval for raising infrastructure bonds to Rs 10,000 crore through public issues or private placement.
• The planned insurance worth Rs 10,000 crore includes a greenshoe option of Rs 5,000 crore. The infrastructure bonds are likely to be of 10 years tenure according to the plans. Infrastructure bonds typically have an edge in such a scenario as the money raised through the issuance of these bonds will be excluded while maintaining a cash reserve ratio (CRR). With these, the banks will have more funds to lend.
• State Bank of India is an Indian Multinational public sector bank and financial services statutory body headquartered in Mumbai. SBI is the 49th largest bank in the world by total assets and ranked 221st in the Fortune Global 500 list. It is only Indian Bank on the list. The bank was founded on 1st July 1955.

 Yes Bank buys 9.9% stake in JC Flowers ARC, to acquire additional stake

• Yes Bank has signed a Share Purchase Agreement (SPA) with JC Flowers Asset Reconstruction Company (ARC), acquiring a 9.9 percent stake in the ARC at Rs 11.43 per share on 28th November 2022. A subsequent acquisition of the additional shareholding of 10 percent is subject to requisite regulatory approvals.
• Yes Bank’s board has approved the sale of stressed loans worth Rs 48,000 crore to JC Flowers. The bank intends to participate as a minority shareholder in the ARC. It is said that this will be ancillary to the main line of business of the bank. As of 31st March 2022, JC Flowers ARC had Rs 595 crore in assets under management with an annual turnover of Rs 19.9 crore.
• For the three-month ended 30 September 2022, the net profit of Yes Bank dropped by 32.2 percent year-on-year to Rs 152.8 crore. Total income during Q2 FY23, was higher at Rs 6,394.11 crore as against Rs 5,430.30 crore in the same period a year ago. Gross non-performing assets came down to 12.89 percent of gross advances as against 14.97 percent in the year-ago period.