Current Affairs for BANK, IBPS Exams - 21 December 2021

::National::

AFSPA to continue in Assam, to be withdrawn if peace lasts : CM HimantaSarma

He expressed apprehension that the militant groups might not reciprocate the same way if the AFSPA is withdrawn from Assam. Sarma, however, said that no state government wants to continue with AFSPA if the law and order situation is peaceful and conducive.
"The Assam government is of the view that if this kind of peaceful situation continues at a later date we will be able to take a call on whether we need AFSPA in entire Assam or we need it only in some parts," Sarma told reporters here.
He cited the example of Arunachal Pradesh, which decided to withdraw the Act in consultation with the central home ministry from many parts of the state, except in three districts.
"AFSPA or not cannot be a call of the government. It has to depend on the overall situation, law and order situation of the state. Now suppose I withdraw, will that be reciprocated by the militant organisations?
"If they do not withdraw and we do, the Army will not be able to carry out any operation meaning thereby you are inviting chaos. So I think AFSPA withdrawal is linked to the peace and stability of the state," Sarma said.
Nagaland Assembly on Monday unanimously adopted a resolution demanding that the Centre repeal AFSPA from the North East and specially from the state "so as to strengthen the ongoing efforts to find a peaceful political settlement to the Naga political issue".
Thirteen civilians were gunned down by security foces at Oting village of Mon district on December 4 in a botched anti-insurgency operation leading to cries by civil groups and rights activists for repeal of the "draconian law".

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::International::

Pentagon issues rules aimed at stopping rise of extremism

Warning that extremism in the ranks is increasing, Pentagon officials are issuing detailed new rules prohibiting service members from actively engaging in extremist activities. The new guidelines come nearly a year after some current and former service members participated in the riot at the U.S. Capitol, triggering a broad department review.
Senior defense officials tell The Associated Press that fewer than 100 military members are known to have been involved in substantiated cases of extremist activity in the past year, but they warn that the number may grow given recent spikes in domestic violent extremism, particularly among veterans.
Officials said the new policy doesn't largely change what is prohibited, but is more of an effort to make sure troops are clear on what they can and can't do, while still protecting their First Amendment free speech rights. And for the first time, it is far more specific about social media.
The new policy lays out in detail the banned activities, which range from advocating terrorism or supporting the overthrow of the government to fundraising or rallying on behalf of an extremist group or “liking” or reposting extremist views on social media. The rules also specify that commanders must determine two things in order for someone to be held accountable: that the action was an extremist activity, as defined in the rules, and that the service member “actively participated” in that prohibited activity.
The military has long been aware of small numbers of white supremacists and other extremists among the troops. But Defense Secretary Lloyd Austin and other leaders launched a broader campaign to root out extremism in the force after it became clear that military veterans and some current service members were present at the Jan. 6 insurrection.

::Economy::

PM Modi meets top CEOs ahead of Union Budget, seeks inputs

Prime Minister NarendraModi on Monday interacted with CEOs of companies from various sectors of industry in the second such interaction with industry representatives in the run-up to the next year’s Union Budget, according to his office.
"Just like the country aspires for a podium finish at the Olympics, the country also wants to see our industries among the top five of the world in every sector, and this is something for which we should collectively work towards,” PM Modi said, according to the Prime Minister’s Office (PMO).
PM Modi assured India Inc that the government would focus on reducing the compliance burden while exhorting the top companies to make full use of the production-linked incentive (PLI) scheme as he sought suggestions on areas where undue compliances need to be removed.
“He said that the corporate sector should invest more in areas like agriculture and food processing, and talked about the shifting focus on natural farming. He underlined the policy consistency of the government, and said that the government is firmly committed to take initiatives which will give impetus to economic progress of the country,” PM Modi said, according to the PMO statement.
The industry representatives gave their feedback to the Prime Minister and thanked him for putting his faith in the private sector. “They expressed commitment towards contributing to the Aatmanirbhar Bharat vision of the Prime Minister, and praised several steps taken by the government like PM GatiShakti, IBC etc,” the PMO statement added.
This was one of the many interactions held by PM Modi ahead of the budget to receive inputs and suggestions from the private sector. Last week, he met with leading private equity and venture capital players to seek suggestions on making India a more attractive investment destination.
Finance minister NirmalaSitharaman will present the Union Budget on February 1, 2022, for the next fiscal year that starts on April 1, 2022.

India's mergers & acquisitions volume in 2021 near all-time high: Report

Mergers and acquisitions (M&A) in India are near an all-time high, led by more first-time buyers than ever before, accounting for more than 80 per cent of the deals closed in 2020 and 2021—a marked increase from less than 70 per cent through 2017 to 2019. This is according to Bain & Company's new report - India M&A: Acquiring to Transform.
There were 85 strategic deals valued at more than $75 million in 2021, out of which the percentage of first-time buyers is almost 80 per cent. There were 80 strategic deals valued at more than $75 million in 2020, out of which the percentage of first-time buyers, is 80 per cent. For the years 2020 and 2021, the percentage of first-time buyers is highest compared to the percentage for the years 2017 till 2019.
The nature of deals is more broad-based, including more mid-sized deals ranging from $500 million- $1 billion, compared to the mega $5 billion deals that drove activity in 2017-19.
This greater deal momentum has been driven by an accelerated disruption across sectors, and companies are using M&A to transform their businesses for a post-Covid world.
Cash reserves and foreign direct investment inflows at their highest-ever levels, availability of private equity (PE) dry powder is resilient, and interest rates are at a low. Armed with this capital, one of the ways companies are responding to disruption and growth expectations is through acquisitions.
“The unprecedented flurry of deals seen in 2021 is the result of a higher pressure to grow and a need to seize more opportunities to disrupt, faced by CEO’s today,” said Karan Singh, managing partner, Bain & Company India and author of the report.
“With shareholders expecting companies to grow their annual earnings by nearly a third over the next three years, companies are being bold and looking at transformational deals where the objective is not just increasing scale but building new engines of growth and new capabilities, beyond the company’s core business.”

::Science and tech::

SpaceX launches 52 Starlink satellites from base in California (US)

A SpaceX rocket carried 52 Starlink internet satellites into orbit from California early.
The U.S. military has become increasingly interested in using satellite imagery to extend its situational awareness and beyond line-of-sight targeting, partly because of the emergence of low-latency networks, like Starlink, which would make it possible to get data from anywhere in the world to a soldier or weapon system faster than ever.
The American firm also was scheduled to launch a Turkish communications satellite from Florida at 10:58 p.m. EST on 19-12-2021.
The two-stage Falcon 9 rocket lifted off from coastal Vandenberg Space Force Base at 4:41 a.m. and arced over the Pacific Ocean.
The Falcon’s first stage returned and landed on a SpaceXdroneship in the ocean. It was the 11th launch and recovery of the stage.
The second stage continued into orbit and deployment of the satellites was confirmed, said launch commentator Youmei Zhou at SpaceX headquarters in Hawthorne, California.
Starlink is a satellite-based global internet system that SpaceX has been building for years to bring internet access to underserved areas of the world.
Saturday’s mission was the 34th launch for Starlink, a constellation of nearly 2,000 satellites in low Earth orbit.

::Sport::

Sindhu, Srikanth and Lakshya to headline India Open 2022

Two-time Olympic medallist PV Sindhu, reigning world championships runner-up KidambiSrikanth and bronze winner LakshyaSen will be the top draw at the 2022 India Open, scheduled from January 11-16 in the national capital.
The USD 400,000 prize money tournament, which will be held without spectators owing to the COVID-19 pandemic, is part of the HSBC BWF World Tour Super 500.
Also headlining the tournament will be newly-crowned world champion Loh Kean Yew along.
Singapore's Yew, who created history in Huelva, Spain recently by becoming the first-ever unseeded player in the open era to win the world championships, will lead the international line-up at the 2022 BWF season opener.
Former world No. 1 Srikanth has been named the top seed in the men's singles category followed by the 2019 world championships bronze medallist B SaiPraneeth.
Sen, the youngest Indian male shuttler to clinch a world championships medal, HS Pronnoy, ParupalliKashyap and Sameer Verma are among the other Indian participants alongside experienced Tommy Sugiarto from Indonesia.