Current Affairs for BANK, IBPS Exams - 04 April 2022

::National::

Kashmiri Pandits will be able to return to Valley soon: RSS chief

Kashmiri Pandits displaced from their homes in the 1990s must continue efforts to return to the valley, just like the Jews who struggled for 1,800 years for their homeland, Rashtriya Swayamsevak Sangh (RSS) chief Mohan Bhagwat said.
The RSS president was addressing a programme organized by a Jammu-based Kashmiri Pandit outfit, the Sanjeevani Sharda Kendra (SSK), when he asserted that the time has come for fulfilling the pledge of returning to their homes in the Kashmir valley.
“It won’t take many days for the fulfillment of our pledge of returning to the valley. It will come true very soon and we have to continue making attempts in this direction. Our history and our great leaders should serve as the guiding light and inspiration for all of us,” Bhagwat, who was also speaking on the last day of the three-day Navreh celebrations, said.
Bhagwat referred to Israel and said the Jews struggled for 1,800 years for their homeland. “They (Jews) resolved to celebrate Passover in Jerusalem for 1,800 years; they kept working on it for the next 100 years. They made efforts to set up an independent Israel, and in the next 30 years, made a country that is a trailblazing nation.”
Passover is celebrated on the 15th day of the Hebrew month of Nisan, the first month of Aviv, or spring.
The RSS chief also said The Kashmir Files movie has revealed the true picture of Kashmiri Pandits and their exodus in the 1990s.
“Things are changing because of that… the proof of that is the film, The Kashmir Files, that has provided a glimpse of what had happened. There are many people against it and for it… People feel that the film has not only put forth their (Kashmiri Pandits) misery but also made us realise how we need to remain alert,” Bhagwat said.

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::International::

What Pakistan's political crisis means for rest of the world

Pakistan Prime Minister Imran Khan blocked a no-confidence vote he looked sure to lose on Sunday and advised the president to order fresh elections, fueling anger among the opposition and deepening the country's political crisis.
His actions have created huge uncertainty in Islamabad, with constitutional experts debating their legality and pondering whether Khan and his rivals can find a way forward.
The nuclear-armed nation of more than 220 million people lies between Afghanistan to the west, China to the northeast and nuclear rival India to the east, making it of vital strategic importance.
Since coming to power in 2018, Khan's rhetoric has become more anti-American and he has expressed a desire to move closer to China and, recently, Russia - including talks with President Vladimir Putin on the day the invasion of Ukraine began.
At the same time, U.S. and Asian foreign policy experts said that Pakistan's powerful military has traditionally controlled foreign and defence policy, thereby limiting the impact of political instability.
Ties between Pakistan's military intelligence agency and the Islamist militant Taliban have loosened in recent years.
Now the Taliban are back in power, and facing an economic and humanitarian crisis due to a lack of money and international isolation, Qatar is arguably their most important foreign partner.
"We (the United States) don't need Pakistan as a conduit to the Taliban. Qatar is definitely playing that role now," said Lisa Curtis, director of the Indo-Pacific Security Program at the Center for a New American Security think-tank.

::Economy::

Cheap tickets to stay as India’s airlines squabble on fare hikes

Top airline bosses agreed on many things at the Wings India airshow in Hyderabad last month: taxes should be reduced and airport capacity must be ramped up. One thing they couldn’t settle upon: whether unfair competition is keeping fares artificially low in what’s already a brutally competitive market.
Sunil Bhaskaran, the chief executive officer of AirAsia India, was upfront. Indian aviation is suffering from “irresponsible competition” that’s kept fares low despite high taxes and fuel prices, he said. Bhaskaran didn’t single out who he was referring to. But the one carrier capable of making the entire market dance to its tune is IndiGo, India’s largest airline.
IndiGo, operated by InterGlobe Aviation Ltd., controls more than 50% of the domestic market. Nine other airlines compete for the rest, giving the fast-growing low-cost carrier commanding power over fares. Competition is set to heat up even further, with two other airlines preparing to launch services later this year in a market where tickets are often sold below operational costs -- a situation that has led to the demise of several high-profile carriers.
IndiGo, however, is unperturbed by criticism as well as calls from smaller rival SpiceJet Ltd. for airlines to work together to increase fares, even if that results in a slight dip in bookings.
“I’m sorry, but this is not about working together to raise fares,” Ronojoy Dutta, IndiGo’s CEO, said in response to a suggestion that other airlines can increase fares if IndiGo takes the lead. “Look, ultimately IndiGo’s strategy is to provide superior customer service and get a disproportionate part of the revenue,” Dutta said, to laughter and applause.
IndiGo’s vow to remain “very, very competitive” going forward is bad news for everyone, including the local affiliate of Singapore Airlines Ltd., IPO-bound Go First and formerly state-run Air India Ltd. Cut-throat pricing has already forced many including Kingfisher Airlines Ltd. and Jet Airways India Ltd. to fold unceremoniously or go through court-run bankruptcy processes.

India on cusp of major economic recovery: Niti Aayog VC

India is on the cusp of a major economic recovery and talks of possible stagflation are "overhyped" as a strong economic foundation is being laid with the reforms carried out by the government over the last seven years, Niti Aayog Vice Chairman Rajiv Kumar said.
Notwithstanding economic uncertainties triggered by the Russia-Ukraine war that is also impacting global supply chains, Kumar asserted that it was quite clear from all accounts that India will remain the fastest growing economy in the world.
"Given all the reforms that we have done in the last seven years, and given that we are seeing the end of the COVID-19 pandemic hopefully, and the 7.8 per cent rate of growth that we will get this year (2022-23), a very strong foundation is now being laid for further rapid increase in economic growth in the coming years," Kumar told PTI in an interview.
Asia's third-largest economy is projected to grow 8.9 per cent in 2021-22, according to recent government data. The Reserve Bank of India (RBI) has pegged the economic growth rate for 2022-23 at 7.8 per cent.
"But even then, India will remain the fastest growing economy and all the other economic parameters are actually quite within the range," he said.
Russia started its military offensive against Ukraine on February 24. Western nations, including the US, have imposed major economic and various other sanctions on Russia following the offensive.
On rising inflation, the Niti Aayog Vice Chairman said that RBI is keeping a close watch as per its mandate.
"I am sure that the RBI is well in control of it (inflation) and will take the necessary steps if and when required," he said.
About the government meeting the target of raising ₹88,000 crore from asset monetisation in 2021-22 financial year ended March 31, Kumar said, "I have heard this (target) will be achieved or if not, (then we will be) very close to the target. We have a number of things in the pipeline, and a number of ministries have taken initiatives. So, I think this will be well on track."

::Science and tech::

Russian space agency head threatens to end future ISS missions

The director of Russia’s space program said economic sanctions aimed at the country threaten partnerships at the International Space Station and he supports a move to end future cooperation with other agencies.
In a series of social media posts Saturday, Roscosmos general director Dmitry Rogozin shared what he claimed were replies from the respective heads of the National Aeronautics and Space Administration, the European Space Agency and the Canadian Space Agency to his demand that their countries lift sanctions against enterprises involved in the Russia space industry.
“NASA will continue to work with relevant U.S. Federal departments and agencies to facilitate continued cooperation on and operation of the ISS,” read one of the posted statements that appears to be signed by NASA Administrator Bill Nelson. A phone call to NASA on Saturday to confirm the authenticity of the letter wasn’t returned.
Questions regarding Russia’s relationship with the ISS have brewed since the country invaded Ukraine in February. Rogozin told a state-owned television network last month that Russia would end sales of rocket engines to the U.S., and Moscow canceled the launch of three dozen satellites for OneWeb, a London-based satellite internet company partly owned by the U.K. government.
Rogozin will shortly submit to Russian leaders specific proposals on ending cooperation on the ISS, he said in the social media posts.
At the moment though, ISS operations seem mostly unaffected by politics on Earth. NASA astronaut Mark Vande Hei returned to earth in a Soyuz capsule on Wednesday, landing in Kazakhstan with two cosmonauts. Vande Hei spent a record 355 days onboard the ISS. Three Americans, three Russians and a German are currently based at the ISS, while Axiom Space plans to send up three space tourists and their captain as soon as April 6.
NASA plans to operate the space station through 2030. SpaceX and Northrop Grumman Corp. were awarded NASA contracts on March 25 for a dozen more cargo missions to the ISS.

::Sports::

Jeswin Aldrin clears wind-aided 8.37m for long jump gold

Tamil Nadu’s Jeswin Aldrin won a thrilling long jump duel with Kerala’s Murali Sreeshankar on Day 2 of the Federation Cup athletics meet in Kozhikode, Kerala. Both went beyond Sreeshankar’s national record of 8.26m to register the farthest two jumps in the event by Indians. In fact, the competition saw nine 8-metre plus jumps, four by Aldrin.
The national mark will thus stay with Sreeshankar, who jumped 8.26m at Patiala in March last year. The Athletics federation website indicates the attempt awaits formal ratification. He also has a ratified 8.20m against his name.