Current Affairs January 03rd 2023| Current Affairs News

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CURRENT AFFAIRS: NATIONAL NEWS

Govt launches Prajjwala Challenge inviting ideas, solutions, and actions to transform rural economy:

• The government has launched Prajjwala Challenge inviting ideas, solutions, and actions to transform the rural economy.
• According to Rural Development Ministry, it is one of the platforms where ideas are invited from individuals, Social Enterprises, startups, the Private Sector, Community Based Organizations, Incubation centres, and Investors who have the potential to transform the rural economy.
• The Ministry said the applicants can visit the website: www.prajjwalachallenge.com and apply till the 31st of January.
• Deendayal Antyodaya Yojana – National Rural Livelihoods Mission has launched the Prajjwala Challenge to transform the rural economy.
• The top five ideas will be rewarded with two lakh rupees each.

India’s first underwater metro worth over Rs 8000 crores to be operational by 2023:

• India’s first underwater tunnel, being built under the Hooghly River in West Bengal at a cost of around ₹ 120 crores as part of the East-West Metro Corridor, will be a blink-and-you-miss-it experience for passengers as trains will cross the 520-meter stretch in just 45 seconds.
• The tunnel — the Indian version of Eurostar’s London-Paris corridor — is 13 meters below the riverbed and 33 meters below ground level.
• The 520-meter tunnel is part of the East-West Metro Corridor of Kolkata — from the IT hub of Salt Lake Sector V in the east to Howrah Maidan in the west across the river.
• The tunnel’s construction is complete and is likely to be commissioned in December 2023 after the completion of a 2.5-km stretch between Esplanade and Sealdah on the corridor.
• It will take 45 seconds to cross the tunnel
• The East-West Corridor of the metro rail has been marred by delays and resultant cost escalations.
• It was approved in 2009 at ₹ 4,875 crores and a completion date of August 2015.
• According to officials, the cost has now increased to ₹ 8,475 crores out of which ₹ 8,383 crores has already been spent.

Union Minister Jitendra Singh inaugurates Incubation Centre at National Research Development Corporation:

• Union Minister for Science and Technology Jitendra Singh has inaugurated the Incubation Centre at the National Research Development Corporation (NRDC) in New Delhi.
• The Centre will provide multi-pronged support to StartUps.
• Singh noted that after Prime Minister Narendra Modi’s announcement of ‘StartUp India, NRDC had reoriented itself to become the only National level PSU providing its services for taking the lab scale technologies developed by Public Funded Research Institutes to industry.

Shri Amit Shah inaugurated mega-dairy, talks of cooperation between Nandini, Amul brands:

• Union Home Minister Shri Amit Shah inaugurated a mega-dairy built at Rs 260 crore in the Mandya district of Karnataka
• Addressing a public gathering after the inauguration, he stated that if Amul and Nandini work together jointly, there will be primary diaries at every village level in three years.
• The Karnataka Milk Federation (KMF) will get all technical support and cooperation from Amul, adding that if Karnataka and Gujarat come together in this direction, it will benefit the farmers all over the country.
• The Union Minister announced that he is giving an assurance from the platform of Mandya to the farmers and cooperative workers in the country that his government will not let them get cheated or meted with injustice.
• In 1975, Karnataka processed 66,000-kilo milk and now it is processing 82 lakh kilos of milk.
• The federation’s turnover per year is 25,000 crores and nearly 80 per cent of the money goes to farmers.
• Sri Adichunchanagiri Mutt pontiff Nirmalananda Natha Swamjji, and Chief Minister Basavaraj Bommai were present on the occasion.

CURRENT AFFAIRS: STATE NEWS

Triple test survey for Other Backward Classes held in UP

• The Allahabad High Court had ordered the Uttar Pradesh (UP) Government to conduct urban local body elections without the Other Backward Classes (OBCs) reservations as the “triple test” requirement for the quota has not been fulfilled.
• This is the first time that the triple test exercise will be carried out in
• The law department and the urban development department will form the guidelines for the process.
• The 5-member commission will survey to ensure that the OBCs are provided reservation based on the triple test, as mandated by the Supreme Court.

About the 5-member commission :

• The 5 -member commission, named Pichhda Varg Ayog, will be headed by Justice (retired) Ram Avtar Singh. 
• The remaining 4 members of the commission are

1. Chob Singh Verma
2. Mahendra Kumar, both retired IAS officers,
3. Former additional law adviser Santosh Kumar Vishwakarma
4. Brajesh Kumar Soni.

What is a triple test?

• It is a test that requires the government to complete 3 tasks for the reservation of OBCs in the local bodies.

A list of 3 tasks is given below:

1. To set up a special commission to collect data on the conditions, nature, and impact of backwardness of OBCs in local body elections in the state.
2. To specify the proportion of reservation required in local bodies in light of recommendations of the commission, so as not to fall foul of overbreadth
3. Ensure that reservations for SCs/STs/OBCs should not exceed 50% of the total seats.

• Based on recommendations, the state government should give reservations on a proportional basis in municipal elections.
• These triple test/conditions were outlined by the Supreme Court in the case of Vikas Kishanrao Gawali vs. State of Maharashtra and others, decided on March 4, 2021

About Rapid survey: 

• On April 7, 2017, the Urban Development Department of the UP issued orders to conduct a rapid survey for determining the population of OBCs
• Based on such a rapid survey in each constituency of a municipality, seats were reserved in proportion to the population of the backward class of citizens in the constituency/ward concerned.

Why is the triple test used instead of a rapid survey?

• The rapid survey only focuses on the headcount of the OBC population.
• The Lucknow Bench of the Allahabad High Court announced that any inquiry or study into the nature and implications of the backwardness to local bodies involves the ascertainment of representation in such bodies

Former PM Atal Bihari Vajpayee’s grand memorial to be built in Gwalior – MP CM Shivraj Singh Chouhan

• Madhya Pradesh (MP) Chief Minister (CM) Shri Shivraj Singh Chouhan stated that a huge statue of former prime minister (PM) Shri Atal Bihari Vajpayee will be installed and a research centre will be built as part of his grand memorial in Gwalior, MP.
• He was speaking at the ‘Gwalior Gaurav Diwas’ function to mark the late leader’s 98 th birth anniversary. 
• The event was also attended by Union ministers Shri Jyotiraditya Scindia and Shri Narendra Singh Tomar. 
• Vajpayee was born in Gwalior on December 25, 1924.
• According to Gwalior Divisional Commissioner Deepak Singh, the MP government has allotted nearly 4,050 hectares of land in the Sirol area of Gwalior to build a memorial of Vajpayee.
• On the occasion, noted sarod maestro Amjad Ali Khan, eminent scientist VK Saraswat, cardiologist Dr. Jamal Yusuf, international hockey player Ishika Chowdhary and educationist OP Dixit were awarded the ‘Gwalior Gaurav Samman’, while renowned poet Hariom Pawar was presented the ‘Atal Kavi Samman’.

About MP :

• Governor: Mangubhai C. Patel
• Chief Minister: Shivraj Singh Chouhan
• Capital: Bhopal
• National Park: Bandhavgarh National Park, Satpura NP, Madhav NP, Van Vihar NP
• Wildlife Sanctuary: Nauradehi Wildlife Sanctuary, Phen Sanctuary, Bori Wildlife Sanctuary

CURRENT AFFAIRS: BANKING & FINANCE

SBI Card partners with Punjab & Sind Bank to launch co-brand credit cards

• SBI Cards and Payment Services has partnered with Public sector bank Punjab & Sind Bank (PSB) to launch co-brand credit cards for the bank’s customers.
• The collaboration also marks the introduction of ‘credit cards’ as a new product segment under the bank’s portfolio.
• Both partners have rolled out 3 card variants :

1.   PSB SBI Card ELITE

2.   PSB SBI Card PRIME

3.   PSB SimplySAVE SBI Card.

Key Highlights :

• PSB SBI Card ELITE will be offered at a joining fee of INR 4999 plus taxes while PSB SBI Card PRIME will be offered at INR 2999 plus taxes & PSB SimplySAVE SBI Card at INR 499 plus taxes
• Both PSB SBI Card ELITE and PSB SBI Card PRIME will be available on the VISA platform and PSB SimplySAVE SBI Card on the RuPay platform.
• PSB SBI Card ELITE and PSB SBI Card PRIME have been designed to offer lifestyle privileges and the best-in-class experience to premium and mass premium customers, respectively.

About Punjab and Sind Bank :

• Founded: 24 June 1908
• Headquarters: New Delhi, Delhi, India
• MD & CEO : Swarup Kumar Saha

About SBI Cards & Payment Services Ltd :

• Founded: October 1998
• Headquarters: Gurgaon, Haryana
• MD & CEO : Rama Mohan Rao Amara

IDBI Bank signs agreement to transfer IDBI Mutual Fund to LIC Mutual Fund

• IDBI Bank signed an agreement to transfer schemes from IDBI Mutual Fund (IDBI MF) to LIC Mutual Fund (LIC MF).
• The decision has been taken to comply with Section 7B of the Securities and Exchange Board of India’s (SEBI) Mutual Fund Regulations.

Key Highlights :

• LIC completed the takeover of IDBI Bank, the sponsor of IDBI Mutual Fund, in January 2019. 
• SEBI rules restrict a single promoter to own more than a 10% stake in multiple asset management companies (AMCs).
• Since IDBI Bank, the parent of IDBI MF, is majority owned by LIC, the transfer is necessary.
• While IDBI Bank is the sponsor of IDBI Mutual Fund, LIC has its own fund house, LIC Mutual Fund.

Credit card spending fall for the first time Since July – RBI Data

• Credit card spending was lower by 11% in November 2022 falling for the first time since July 2022 to ₹1.15-lakh crore, signalling a slowdown from the peak levels seen during the festival season.
• As per data released by the Reserve Bank of India (RBI), Credit card spending touched a peak of ₹1.29-lakh crore seen in October 2022.

Key Highlights :

• The bank-wise data revealed that HDFC Bank saw a 13% decline in its credit card spending from October 2022, whereas SBI card saw a decline of nearly 10%, ICICI Bank 15%, and Axis Bank an 8% drop.
• In terms of the number of cards, issuers added a total of 13 lakh cards during the month, lower than the 17 lakh cards added in October 2022
• This took the aggregate count to 8.1 crore credit cards as of the end of November 2022.
• The net addition in cards-in-force during November 2022 was led by SBI Card, which saw cards increasing by 3.9 lakhs, followed by HDFC Bank which saw an addition of 2.4 lakh cards, Axis Bank of 2.1 lakh cards.
• On the other hand, ICICI Bank saw a net reduction in its number by 1.1 lakh cards.

Govt hikes interest rate on NSC, senior citizen savings scheme from Jan – March 2023

• The Finance Ministry increased interest rates on many small savings schemes including senior citizen savings schemes and National Savings Certificates (NSCs).
• However, the interest rates on the Public Provident Fund (PPF), and the girl child savings scheme – Sukanya Samriddhi savings scheme – will remain unchanged.
• The new rates will be applicable on fresh deposits between January 1 and March 31, 2023.
• The hike in the interest rates is between 20 basis points and 110 basis points.
• This is the second successive revision but mostly on non-tax savings schemes.
• The hike is in line with the upward revision of interest rates on bank deposits.
• Still, small savings will fetch higher than bank deposits.

Small Saving Scheme – Interest rates :

Savings Scheme	Interest Rate (%) Oct-Dec 2022	Interest Rate (%) Jan-Mar 2023	Compounding Frequency
Post Office Savings Account	4.00	4.00	Annually
Post Office Time Deposit 1 Year	5.5	6.6	Quarterly
Post Office Time Deposit 2 Year	5.7	6.8	Quarterly
Post Office Time Deposit 3 Year	5.8	6.9	Quarterly
Post Office Time Deposit 5 Year	6.7	7.0	Quarterly
Post Office Recurring Deposit (5 Year)	5.8	5.8	Quarterly
Senior Citizen Savings Scheme	7.6	8.0	Quarterly & Paid
Post Office Monthly Income Scheme	6.7	7.1	Monthly & Paid
National Savings Certificate (NSC)	6.8	7.0	Annually
Public Provident Fund (PPF)	7.1	7.1	Annually
Kisan Vikas Patra (KVP)	7.0	7.2	Annually
Sukanya Samriddhi Yojana	7.6	7.6	Annually

Key Highlights :

• According to a Finance Ministry notification, rates for deposits up to 5 years as well as NSC, senior citizen savings scheme and Kisan Vikas Patra (KVP) where income accruing are taxable have been hiked by up to 1.1 percentage points.
• With the revision, senior citizen savings schemes will earn 40 basis points more at 8% during the January-March period.
• Similarly, a one-year term deposit with post offices would earn 6.6%, for two years (6.8%), three years (6.9%), and five years (7%).
• About KVP, the government has hiked the interest rates to 7.2%, thereby maturing in 120 months.
• Currently, KVP yields a 7% rate with a maturity period of 123 months.
• The monthly income scheme would earn 40 basis points more at 7.1%, while the National Savings Certificate (NSC) has been raised by 20 basis points to 7%.
• The interest rate on the girl child savings scheme Sukanya Samriddhi Yojana was retained at 7.6%, and for the Public Provident Fund (PPF) it has been kept unchanged at 7.1%.
• Savings deposits will continue to earn 4% per annum.
• Since 2016, interest rate resetting has been done based on yields of government securities of the corresponding maturity with some spread on the scheme for senior citizens, as advised by the Shyamala Gopinath Committee. 

MahaMetro Raises Rs 3,568 Cr. for the Second Phase of Nagpur Metro from ADB & EIB

• The MahaMetro Corporation has finalized debt arrangements for the second phase of its project in Nagpur. 
• It would be raising a loan of Rs3,586 crore from the Manila-based Asian  Development Bank (ADB) and the European Investment Bank.
• The first phase of the project was funded by France’s AFD and KFW, a German agency.
• The second phase is expected to be completed by 2026. 
• Both together had chipped in 630 million Euros.

Contribution :

• For the Project, the ADB would be contributing 200 million dollars, and 239 million dollars would be contributed from EIB.
• The total amount estimated for the second phase of the project is estimated to be around Rs 6,700 Crores. 
• Out of this amount, around Rs, 3,100 Crores will come from the central and state government in the form of equity capital.
• The phase includes 4 extensions covering a distance of 43.8 KMs.
• The extension is from Khapri to Butibori and from Automotive Square to Kanhan.
• Also, from Prajapati Nagar Station, it will reach Kapsi via Hingna from Lokmanya Nagar Station.

About ADB :

• Founded : 19 December 1966
• Headquarters : Mandaluyong, Philippines
• President : Masatsugu Asakawa
• Membership :  68 members

About EIB :

• Founded: 1958
• Headquarters : Kirchberg, Luxembourg
• President : Werner Hoyer

CURRENT AFFAIRS: BUSINESS NEWS

GST revenues grow 15% to Rs 1.49 lakh crore in December:

• The government on the revenue front as GST revenues in December clocked Rs 1,49,507 crore, registering a 15 per cent increase over the same period last year.
• This is the 10th straight month when the monthly GST collections have been over Rs 1.4 lakh crore.
• Of the Rs 1,49,507 crore, collections under Central GST (CGST) were Rs 26,711 crore, under State GST the collections were Rs 33,357 crore, and Rs 78,434 crore under Integrated GST.
• After settling Rs 36,669 crore from IGST to CGST and Rs 31,094 crore to SGST, the total revenue of Centre and the States in December 2022 was Rs 63,380 crore for CGST and Rs 64,451 crore for the SGST.
• Imports accounted for Rs 40,263 crore of GST collections, which was 8% higher than the previous year, while GST from domestic transactions (including import of services) was 18% higher than that of the same month last year.
• During November, 7.9 crore e-way bills were generated, which was significantly higher than Rs 7.6 crore worth of e-way bills generated in October 2022.
• The monthly average collection in the first nine months is now Rs 1.48 lakh crore, almost Rs 30,000 more than the average monthly collections of Rs 1.18 lakh crore during the same month last year.
• The total collection in the April-December 2022 has been Rs 13.34 lakh crore, 25% more than the Rs 10.67 lakh collection during the same period the previous year.

Centre’s fiscal deficit for the April-November period at 58.9% of the FY23 target:

• The Centre’s fiscal deficit for the April-November period of the current fiscal year came in at Rs 9.78 trillion, or 58.9 per cent of the Budget Estimate (BE) of Rs 16.6 trillion, compared with Rs 6.96 trillion or 46.2 percent for the same period last year.
• The fiscal deficit widened as a percentage of the full-year target year-on-year due to lower tax and non-tax revenue and much higher capital expenditure outlay.
• In fact, in November, the fiscal deficit widened by Rs 2.2 trillion, the highest ever in any month this financial year.
• Net tax revenue for the April-November period was Rs 12.25 trillion or 63.3 percent of the full-year target, compared with 73.5 percent for the same period last year.
• Non-tax revenue came in at 73.5 percent compared with 91.8 percent for the same period last year, while non-debt capital receipts (primarily divestment proceeds) stood at 52.3 percent compared with 11 percent, primarily on the back of proceeds from LIC’s IPO earlier in the year.
• The Centre’s pace of capital expenditure remained strong, at 4.47 trillion for April-November, or 59.6 percent of the full-year target compared with 49.4 percent for the year-ago period.
• Revenue expenditure was Rs 19.96 trillion, or 62.5 percent of the FY23 Budgeted estimate compared with 61.5 percent.

Core sector rebounds sharply to grow at 5.4% in November:

• Growth in the output of the core sector, comprising eight infrastructure industries, rebounded sharply in November to increase at 5.4 percent, owing to a lower base and double-digit expansion in four of the eight areas.
• The data released by the industry department has shown a sequential acceleration in output growth in sectors like coal (12.3 percent), steel (10.8 percent), electricity (12.1 percent), cement (28.6 percent), and fertilizers (6.4 percent).
• However, crude oil (-1.1 percent) and natural gas (-0.7 percent) production contracted for the sixth and fifth consecutive month, respectively, along with that in refinery products (-9.3 percent).
• The eight core industries account for 40.27 percent of the weighting of the items included in the IIP.
• The International Monetary Fund (IMF) has projected India’s growth to ease to 6.1 percent in FY24 from an estimated 6.8 percent in FY23, reflecting a less favourable global outlook and tighter financial conditions.
• The IMF cautioned a sharp global growth slowdown in the near term would affect India through trade and financial channels.
• However, Fitch Ratings, while reaffirming India’s sovereign rating at the lowest investment grade with a stable outlook, said India was somewhat insulated and hence could be reckoned out of the likely gloomy global scenario in 2023, given its modest reliance on external demand.

CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS

IDBI Bank re-appoints Mr. Suresh Khatanhar as deputy MD for a year

• IDBI Bank’s Board of Directors re-appointed Mr. Suresh Kishinchand Khatanhar as the Deputy Managing Director (DMD) on the Board of the Bank for 1 year with effect from January 15, 2023.

About Mr. Suresh Khatanhar :

• Khatanhar is a career banker with a total experience of 38 years in almost all areas of commercial banking in public sector banks, new generation private sector banks, and universal banks. 
• He started his banking career with Dena Bank and handled branch banking, Credit Appraisal/ Monitoring, and Stressed Accounts.
• He was appointed as Senior Relationship Manager at the IDBI Bank.
• He also handled large corporate branches including the Overseas Branch (DIFC) of the bank.
• To drive the retail banking business, he was appointed as DMD to spearhead the bank’s vision, direction, and business model for 3 years.
• Currently, he is handling retail assets, credit cards, third-party distribution & LIC synergy; retail liabilities, priority sector group & financial inclusion; treasury & international borrowing; credit monitoring group; retail collection & recovery, audit, legal, centralized operations, corporate strategy & planning, and administration.

About IDBI Bank :

• Founded: 1 July 1964
• Headquarters: Mumbai, Maharashtra, India
• MD & CEO: Rakesh Sharma
• IDBI Bank Limited is a development finance institution under the ownership of the Life Insurance Corporation of India (LIC) and the Government of India (GoI).

Dr. Ch. Srinivasa Rao gets the second term as NAARM Director

• Ch Srinivasa Rao assumed charge as director of the National Academy of Agricultural Research Management (NAARM) for the second term.
• He was selected again by the Agricultural Scientists Recruitment Board (ASRB).
• He has been serving as the Director of the Hyderabad-based NAARM for the last 5 years.

About Dr. Ch Srinivasa Rao :

• Before this, he headed several ICAR institutes such as CRIDA (Central Research Institute for Dryland Agriculture). 
• He was on deputation to International Crop Research Institute for Semi-Arid Tropics (ICRISAT), Patancheru from 2006-2008.
• He was the Project Coordinator, of AICRP (All India Coordinated Research Projects) for Dryland Agriculture during 2013-2014.
• His areas of research include climate change, contingency planning, soil carbon sequestration, rainwater management, and rainfed mission development.

About NAARM :

• Established: 1976
• Headquarters: Hyderabad, Telangana, India.
• It was established by the Indian Council of Agricultural Research (ICAR), to address issues related to agricultural research, training and development, and education management, in

Lieutenant General Arvind Walia appointed as the new Engineer-in-Chief of the Indian Army

• Lieutenant General Arvind Walia has been appointed as the next Engineer-in-Chief of the Indian Army
• He would be succeeding Lt Gen Harpal Singh who is superannuating on December 31, 2022.

About Lieutenant General Arvind Walia :

• Lt Gen Walia an officer of the 1986 batch & an alumnus of the Indian Military Academy, Dehradun.
• He is the silver medallist from the Indian Military Academy, Dehradun, and was an officer in the Corps of Engineers.
• He has commanded an independent squadron in the desert sector, a Regiment in Jammu and Kashmir (J&K), an Engineer Brigade along the Western front, and the MEG and Centre at Bengaluru, Karnataka.
• He was also an instructor at the College of Defence Management in Secunderabad and the National Defence College in Delhi.
• He has conducted staff appointments including Brigade Major of a Mountain Brigade, Director in the Engineer-in-Chief’s Branch at the Integrated Headquarters of the Ministry of Defence (MoD), and Chief Engineer of a Command and Brig Q in a Strike Corps.

CURRENT AFFAIRS: SPORTS NEWS

Hockey Haryana Women’s U-18 team wins Khelo India Youth Games 2022:

• Hockey Haryana’s women’s team won the Khelo India Youth Games 2022 Women’s Under 18 Qualifiers after defeating Madhya Pradesh 2-0 in the final at Bhubaneswar.
• In the final match, Pooja and Gurmail Kaur scored a goal each for Haryana to end the contest in their favour.
• Odisha stepped up to claim third place after beating Hockey Jharkhand 2-1 in the 3rd and 4th place encounter.
• Sanjna Horo scored for Jharkhand but Odisha came back with goals from Puja Sahoo and Sunelita Toppo to complete a thrilling comeback.
• Haryana, Madhya Pradesh, Odisha, and Jharkhand have qualified for the Khelo India Youth Games to be held in Madhya Pradesh next year.

Hockey Madhya Pradesh clinches Khelo India Youth Games 2022 Men’s U-18 title:

• In Hockey, Madhya Pradesh defeated Odisha 6-5 to clinch the Khelo India Youth Games 2022 Men’s Under-18 Qualifiers title in Bhubaneswar.
• In a thrilling final, Zameer Mohammad was the star of the final, scoring a hat-trick while Ali Ahmad, Mohammad Zaid Khan, and Captain Ankit Pal netted one goal each for Madhya Pradesh.
• On the other hand, Anmol Ekka, Paulus Lakra, Deepak Minz, Akash Soreng, and Anmol Ekka scored one goal each for Odisha.
• Haryana claimed third place in the competition with a win against Jharkhand 2-0 in the 3rd and 4th place
• Amandeep and Roshan scored goals for Haryana.
• With this, Madhya Pradesh, Odisha, Haryana, and Jharkhand have qualified for the Khelo India Youth Games to be held in Madhya Pradesh next year.

Koustav Chatterjee becomes India’s 78th Grandmaster, 10th from West Bengal:

• Nineteen-year-old Kolkata-based chess player Koustav Chatterjee became India’s 78th Grandmaster.
• Koustav is also the tenth GM from West Bengal.
• Koustav secured his final GM norm by drawing with GM Mitrabha Guha in the 10th round of the MPL National chess championship on the last day of 2022
• Koustav earned his first GM norm in October 2021 at a Grandmasters’ chess tournament in Bangladesh.
• He got his second GM norm at the Asian championship in the first week of November 2022.
• He crossed the FIDE rating of 2500 in August.
• Koustav is in the joint-lead with GM Abhijeet Gupta at the National Senior Chess Championship with a score of 8/10 after 10 rounds

About FIDE:

• President: Arkady Dvorkovich
• Headquarters: Lausanne, Switzerland
• Founded: 20 July 1924, Paris, France
• Membership: 200 national associations

CURRENT AFFAIRS: OBITUARY

Pritzker-winning Japanese architect Arata Isozaki Passed away

• A Pritzker-winning Japanese architect, Arata Isozaki Passed away at the age of 91 in Japan’s southern island of Okinawa.

About Arata Isozaki :

• Arata Isozaki was a Japanese architect, urban designer, and theorist from Ōita, Island of Kyushu, Japan.
• He is known as a post-modern giant who blended the culture and history of the East and the West in his designs
• He began his architectural career under the apprenticeship of Japanese legend Kenzo Tange, a 1987 Pritzker laureate.
• He founded his own office, Arata Isozaki & Associates, which he called “Atelier” around 1963.
• His works also include philosophy, visual art, film, and theatre

Notable Works :

• Ōita Prefectural Library, (1962–1966) Ōita, Ōita, Japan
• Kitakyushu Municipal Museum of Art (1972–1974) in Fukuoka, Japan
• Kitakyushu Central Library (1973–1974) in Fukuoka, Japan
• Museum of Contemporary Art (MOCA), (1981–1986) Los Angeles, California, United States
• He is also known for his international works such as the Sports Hall for the 1992 Summer Olympics in Barcelona, Spain, and the Himalayas Center, a multifunctional cultural complex in Shanghai.

Awards & Honors :

• He was awarded the RIBA Gold Medal in
• Isozaki won the Pritzker Architecture Prize, internationally the highest honour in the field, in 2019

Daily CA on January 3:

• The government has launched Prajjwala Challenge inviting ideas, solutions, and actions to transform the rural economy.
• India’s first underwater tunnel, being built under the Hooghly River in West Bengal at a cost of around ₹ 120 crores as part of the East-West Metro Corridor, will be a blink-and-you-miss-it experience for passengers as trains will cross the 520-meter stretch in just 45 seconds.
• Union Minister for Science and Technology Jitendra Singh has inaugurated the Incubation Centre at the National Research Development Corporation (NRDC) in New Delhi.
• Union Home Minister Shri Amit Shah inaugurated a mega-dairy built at Rs 260 crore in the Mandya district of Karnataka
• The government on the revenue front as GST revenues in December clocked Rs 1,49,507 crore, registering a 15 percent increase over the same period last year.
• The Centre’s fiscal deficit for the April-November period of the current fiscal year came in at Rs 9.78 trillion, or 58.9 percent of the Budget Estimate (BE) of Rs 16.6 trillion, compared with Rs 6.96 trillion or 46.2 percent for the same period last year.
• Growth in the output of the core sector, comprising eight infrastructure industries, rebounded sharply in November to increase at 5.4 percent, owing to a lower base and double-digit expansion in four of the eight areas.
• Hockey Haryana’s women’s team won the Khelo India Youth Games 2022 Women’s Under 18 Qualifiers after defeating Madhya Pradesh 2-0 in the final at Bhubaneswar.
• In Hockey, Madhya Pradesh defeated Odisha 6-5 to clinch the Khelo India Youth Games 2022 Men’s Under-18 Qualifiers title in Bhubaneswar.
• Nineteen-year-old Kolkata-based chess player Koustav Chatterjee became India’s 78th Grandmaster.
• The Allahabad High Court had ordered the Uttar Pradesh (UP) Government to conduct urban local body elections without the Other Backward Classes (OBCs) reservations as the “triple test” requirement for the quota has not been fulfilled.
• Madhya Pradesh (MP) Chief Minister (CM) Shri Shivraj Singh Chouhan stated that a huge statue of former prime minister (PM) Shri Atal Bihari Vajpayee will be installed and a research centre will be built as part of his grand memorial in Gwalior, MP.
• SBI Cards and Payment Services has partnered with Public sector bank Punjab & Sind Bank (PSB) to launch co-brand credit cards for the bank’s customers.
• IDBI Bank signed an agreement to transfer schemes from IDBI Mutual Fund (IDBI MF) to LIC Mutual Fund (LIC MF).
• Credit card spending was lower by 11% in November 2022 falling for the first time since July 2022 to ₹1.15-lakh crore, signalling a slowdown from the peak levels seen during the festival season.
• The Finance Ministry increased interest rates on many small savings schemes including senior citizen savings schemes and National Savings Certificates (NSCs).
• The MahaMetro Corporation has finalized debt arrangements for the second phase of its project in Nagpur & it would be raising a loan of Rs3,586 crore from the Manila-based Asian  Development Bank (ADB) and the European Investment Bank.
• IDBI Bank’s Board of Directors re-appointed Mr. Suresh Kishinchand Khatanhar as the Deputy Managing Director (DMD) on the Board of the Bank for 1 year with effect from January 15, 2023.
• Ch Srinivasa Rao assumed charge as director of the National Academy of Agricultural Research Management (NAARM) for the second term.
• Lieutenant General Arvind Walia has been appointed as the next Engineer-in-Chief of the Indian Army
• A Pritzker-winning Japanese architect, Arata Isozaki Passed away at the age of 91 in Japan’s southern island of Okinawa.