Current Affairs for BANK, IBPS Exams - 03 January 2022

::National::

Row erupts over move to free temples from Karnataka govt’s control

The BJP has hit back at the Congress after its president opposed the Karnataka government’s move to bring in a law to free temples from the state’s control. BJP national general secretary and former minister CT Ravi told reporters on Sunday that the Congress does not have the mindset to address issues pertaining to the majority community.
Ravi said the Britishers in India took over the temples not because of the respect they had for the Gods, but for the income the temples generated, and the BJP is bringing a law to remove this practice. “It is a matter of faith, and it is given by devotees with the same in mind. The government doesn’t have to run on this donation money, it is the property of society. That money should be used for developing temples and social work. There is no need for this money to run the government,” he said.
Karnataka chief minister BasavarajBommai on Wednesday said that the government plans to introduce a new bill to free temples and Hindus religious institutions in the state from government control. “Hindu temples are under different types of control bylaws and rules. Before the budget session, a law would be given shape to make our temples free from such restrictions. Temples will be allowed to function freely, and there will be only regulations,” Bommai said.
Responding to this announcement, DK Shivakumar, president of Karnataka Pradesh Congress Committee (KPCC), on Saturday said that Congress is opposed to freeing temples from state control. “The state’s temples belong to the people. The BJP government in the state has decided to transfer this public property to the workers of the BJP and members of the SanghParivar. This is an anti-Hindu move and the people of the state, as well as Gods, would not forgive them. This is a huge blunder. Congress is not anti-Hindu; it is the BJP which is really against the interests of the Hindus.”
“The government is planning to overturn the policy that has been in place for a long time. Apart from a few temples and mutts, the remainder comes under the control of the government. People contribute crores to these temples which have accrued over hundreds of years. The BJP is making plans to distribute these funds to their workers,” he added.

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::International::

Overnight storms bring damage to parts of US South

A line of severe storms damaged homes, knocked out power and downed trees in parts of the southern United States late Saturday into Sunday morning.
Authorities closed roads in Hazel Green, Alabama, after power lines came down and homes suffered damage. The Madison County Sheriff's Office shared photos online including one of a snapped power pole.
The weather also caused damage to businesses in Hazel Green, including a Walmart, local news outlets reported. The community is located about 15 miles (24 kilometers) north of Huntsville.
Huntsville Utilities said service has been restored to parts of Hazel Green, but work continues with multiple downed power poles in the area.
The same system brought down trees in the nearby town of Triana, roughly 20 miles (32 kilometers) southwest of Huntsville. Mayor Mary Caudle told WAFF-TV that about 280 residents took cover in a storm shelter Saturday night.
The storms followed a system earlier Saturday which brought flooding to parts of Kentucky. An EF-2 tornado caused significant damage in Hopkinsville on Saturday with estimated peak winds of 115 mph (185 kph), the National Weather Service said. No injuries were reported.
Temperatures dipped Sunday after the severe weather rolled through, and winter storm warnings were posted from eastern Tennessee to Maryland with up to 6 inches of snow possible in some areas. Freeze warnings were posted from southern Texas to Mississippi.

::Economy::

Billionaires are embracing crypto in case money 'goes to hell'

Thomas Peterffy took out a full-page ad in the Wall Street Journal in 2017 warning of the dangers that bitcoin futures posed to capital markets.
These days, the Hungarian-born billionaire is well versed in cryptospeak. Peterffy, worth $25 billion, said it’s prudent to have 2 per cent to 3 per cent of one’s personal wealth in cryptocurrencies, just in case fiat currency goes to “hell.”
He owns some himself, while his firm Interactive Brokers Group Inc. recently offered customers the ability to trade Bitcoin, Ethereum, Litecoin and Bitcoin Cash, after detecting “urgency” from its clients to get in on the action.
Peterffy, 77, said Greenwich, Connecticut-based Interactive Brokers will offer the ability to trade another five to 10 coins or so starting this month.
It’s possible that cryptocurrencies could reap extraordinary returns — even if the opposite is also true, Peterffy said.
“I think it can go to zero, and I think it can go to a million dollars,” he said in an interview. “I have no idea.”
His approach highlights the shifting attitude toward crypto by investors who once scorned or were wary of digital tokens but realised, especially in 2021, that they can’t bear tomiss out on the potential for big gains.

Embattled China Evergrande shares halt trading as liquidity squeeze deepens

China Evergrande Group shares will be suspended from trading on Monday, the embattled property developer said without giving a reason.
Evergrande, the world's most indebted developer, is struggling to repay more than $300 billion in liabilities, including nearly $20 billion of international market bonds that were deemed to be in cross-default by ratings firms last month after it missed payments.
The property developer missed new coupon payments worth $255 million due last Tuesday, though both have a 30-day grace period.
The firm has set up a risk management committee with many members from state companies, and said it would actively engage with its creditors.
On Friday, Evergrandedialled back plans to repay investors in its wealth management products, saying each investor in its wealth management product could expect to receive 8,000 yuan ($1,257) per month as principal payment for three months irrespective of when the investment matures.
The move highlights the deepening liquidity squeeze at the property developer.
Shares of Evergrande shed 89% last year, closing at HK$1.59.

::Science and tech::

Fresh revelations in anatomy: New layer of muscle discovered on the jaw

In a revelation that could redefine certain aspects of anatomical studies as we know it, scientists have now discovered humans have a new layer of muscles behind the cheeks that stabilise the lower jaw.
The masseter is a thick, somewhat quadrilateral muscle found at the back of the mouth of mammals and its most notable function is to elevate the mandible, thus moving the jaw and helping in chewing. The action of this muscle is prominently felt when one presses the teeth together.
The new study, published in the Annals of Anatomy journal earlier this month, indicates an additional layer of muscles in the masseter, which stabilises the lower jaw and is possibly the only part that can pull the lower jaw back toward the ear.
“The masseter muscle is considered to be bilayered, consisting of a superficial and a deep part,” the introductory text to the study reads.
“However, a few historical texts mention the possible existence of a third layer as well, but they are extremely inconsistent as to its position. Here we performed an anatomical study to clarify the presence and morphological characteristics of a distinct third layer of the masseter muscle,” it says.
Detailing the results of the study, the text reads, “An anatomically distinct, deep third layer of the masseter muscle was consistently demonstrated, running from the medial surface of the zygomatic process of the temporal bone to the root and posterior margin of the coronoid process.”

::Sport::

Hockey team wants to build on historic Tokyo Olympics campaign, says Rani Rampal

From a historic fourth-place finish at the prestigious Tokyo Olympics to achieving the best-ever FIH World Rankings to bagging FIH Hockey Stars Awards 2021 in all categories, the year 2021 was a fairytale for the Indian Women's Hockey Team.
The Indian eves became the first of India's hockey teams to return to international hockey after the pandemic-enforced hiatus disrupted the calendar. The team began the Olympic year 2021 with Argentina tour in January, followed by a four-match Germany tour in February.
After having spent the following months at SAI Centre in Bengaluru, the Indian Women's Hockey team went on to script history at the Tokyo Olympics in August 2021.
Rani-led India, who started their campaign with three losses, pulled off arguably one of the biggest upsets in world hockey as they defeated the mighty Australian side in what was their historic Quarter-Final encounter of the Olympic Games. However, they missed out on a medal by a whisker as they narrowly lost in both Semi-Final and the Bronze Medal classification matches against Argentina and Great Britain, respectively.