Current Affairs for BANK, IBPS Exams - 05 January 2022

::National::

‘Rise in foeticide, unwed mothers: Odisha child rights panel opposes marriage age law

Odisha State Commission for Protection of Child Rights (OSCPCR) has opposed the proposed law to raise the marriage age for women to 21, saying it will create a new set of problems such as an increase in instances of foeticide and unwed mothers. The commission chairperson also said it will leave people rescued from child marriages in the 19-21 age group in the lurch as existing laws only support vulnerable children up to the age of 18 years.
“Acts like Juvenile Justice Care and Protection Act and schemes like Integrated Child Protection Scheme have scope to extend support to vulnerable children only up to the age of 18. In such circumstances, there will be no space to provide support to a child bride or groom between the age of 19 to 21 if rescued from child marriage,” SandhyabatiPradhan, who leads Odisha’s child rights panel, said in a letter to Vinay P. Sahasrabuddhe, chairperson of the parliamentary standing committee on education, women, children, youth and sports that is examining the Prohibition of Child Marriage (Amendment) Bill, 2021.
Pradhan also underlined that laws such as the child sex abuse law,Pocso only bars consensual sex up to the age of 18. “This implies that someone may have sexual act after 18 but won’t be able marry till 21 which will create new sets of issues like increasing unwed mothers and foeticide thereafter,” she said in her letter.
“The National Crime Record Bureau data says that only 785 cases have been registered under Prohibition of Child Marriage in 2020 which is 523 in 2019 and 501 in 2018. On the other hand, 23.3% girls are marrying before the legal age as captured by NFHS-5 (National Family and Health Survey),” she said.
Pradhan said factors such as distress and poverty, patriarchal norms and practices, lack of opportunity for schooling, employment and the like are still contributing to the prevalence of child marriage to a large extent. “There is also a need to strengthen families by providing appropriate livelihood opportunity,” she said.

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::International::

IMF delays release of new forecast to Jan 25 to factor in Covid-19 developments

The International Monetary Fund will release its World Economic Outlook on January 25, a week later than planned, to factor in the latest Covid-19 developments, a spokesperson for the global lender said, amid signs another downgrade is coming.
“The World Economic Outlook update will be launched on January 25 to allow our teams to incorporate the latest developments related to the Covid-19 pandemic into the economic forecasts," the spokesperson said.
IMF spokesperson Gerry Rice last month told reporters to expect the update on January 19.
Managing Director KristalinaGeorgieva last month told the Reuters Next conference that the IMF was likely to further downgrade its global economic growth projections in January to reflect the emergence of the Omicron variant of the coronavirus.
Economists expect the IMF to cut its economic forecast for the United States, the world's largest economy, given the rapid spread of the highly contagious Omicron variant, as well as the failure of Congress to pass US President Joe Biden's $1.2 trillion social and climate spending package.
In October, it had already slashed its forecast for US Gross Domestic Product growth in 2021 by a full percentage point to 6%, citing supply chain disruptions and a labor crunch, while forecasting growth of 5.2% in 2022.
Since then, the pandemic has surged again, and divisions in Congress have deepened.
The United States set a global record of almost 1 million new coronavirus infections on Monday, according to a Reuters tally, and its daily average has totalled 486,000 cases over the last week, a rate higher than that of any other country.

::Economy::

RBI cancels authorisation certificates of two payment system operators

Reserve Bank of India (RBI) has cancelled the authorisation certificates of Muthoot Vehicle and Asset Finance Ltd and Eko India Financial Services Private Ltd for non-compliance with regulatory requirements.
Both the Payment System Operators (PSOs) had authorisation for issuance and operation of prepaid payment instruments.
"Following the cancellation of the Certificate of Authorisation (CoA), these companies cannot transact the business of issuance and operation of prepaid payment instruments," RBI said.
However, customers or merchants having a valid claim, if any, on these companies as PSOs, can approach them for settlement of their claims within three years from the date of cancellation.
The CoA was cancelled on December 31, 2021, RBI said.

Strong demand for Indian apparel to further push exports: AEPC

Strong demand and healthy order books will further help in boosting the country's exports in the coming months, Apparel Export Promotion Council (AEPC) Chairman A Sakthivel said.
"We have a fast-growing order book from brands and buyers across the world...With the help of strong demand conditions, Indian apparel exports will see historic highs soon in the next coming months," he said in a statement.
Export of readymade garments saw an increase of 22 per cent to USD 1.46 billion in December 2021 from USD 1.20 billion in the same month of 2020. Total apparel exports stood at USD 11.13 billion during April-December 2021.
"Indian apparels have also bounced back. This is despite the fact that local restrictions impacted operations in the first quarter during the second wave of the pandemic. Apparel exporters have done exceedingly well in spite of challenges," Sakthivel said.

::Science and tech::

Defense Minister Rajnath Singh inaugurates KalpanaChawla Center for Research in Space Science and Technology at Chandigarh University

Reiterating the government's commitment of strengthening the private sector for the holistic development of the nation, Defence Minister ShriRajnath Singh Ji on Monday said that an active and long-term public-private partnership is crucial to take the education & science sectors to a global level and make India a knowledge economy. He was speaking at the inauguration ceremony of KalpanaChawla Centre for Research in Space Science & Technology (KCCRSST) at Chandigarh University, Gharuan, the first of its kind in North India.
The Union Minister also launched Chandigarh University's Defence Scholarship Scheme, worth Rs 10 Crore, for the wards of Defence Personnel of the three services.
Addressing the gathering, Shri Singh hailed the establishment of the KCCRSST, and said that it is only through efforts like these that India can become a leader in future technologies. Likening the Research Centre with 'pride of India' KalpanaChawla, the Defence Minister hoped that this research facility would touch new heights of success, similar to the remarkable achievements of the late India-born astronaut who brought universal recognition to her country of origin.
Established with the objective of training students in space science and satellite development and to meet future challenges in the area of space research, this state-of-the-art space centre would be the Ground Control Station (GCS) for the Chandigarh University's Student Satellite (CUSAT), an in-house developed nano-satellite being designed by the students of Chandigarh University, and a Geo Spatial Centre for research, besides other important projects.
Chancellor of Chandigarh University, S. Satnam Singh Sandhu, senior vice-president Prof HimaniSood, eminent scientists, faculty and students were present during the inauguration ceremony.

::Sport::

PM lays foundation stone of Major Dhyan Chand Sports University in Meerut

Prime Minister NarendraModi on 03-01-2022 laid the foundation stone of Major Dhyan Chand Sports University in Meerut district of Uttar Pradesh.
The University will be established at Salawa and Kaili villages on the outskirts of the Sardhana town of the district at an estimated cost of about Rs 700 crore.
The sports university will be equipped with modern and state of the art sports infrastructure including synthetic hockey ground besides those of football, basketball, volleyball, handball and kabaddi.
It will also have a lawn tennis court, gymnasium hall, synthetic running stadium, swimming pool, a multipurpose hall and a cycling velodrome.
The university will also house facilities for shooting, squash, gymnastics, weightlifting, and archery, canoeing and kayaking, among other facilities.
The varsity will have the capacity of training 1,080 sportspersons including 540 female and 540 male ones.