Current Affairs for BANK, IBPS Exams - 06 April 2022

::National::

Chhattisgarh dentist duped of ₹81 lakh in Chinese ‘pig butchering’ scam

A man was duped of ₹81 lakh in Chhattisgarh’s Rajandgaon district after a Chinese woman lured him into investing in crypto with a promise that he would get three times returns, police said.
The National Cyber Crime Portal, in a press release, said that the online “pig butchering” scams that started from China has gone global after an Indian was duped of ₹81 lakh by a Chinese woman through investment in cryptocurrency.
The victim, Dr Abhishek Pal, a dentist, lodged a complaint with Kotwali police station of Rajandgaon district after which police on Sunday registered a case under IPC sections 420 (cheating) and 406 (criminal breach of trust) and sections 66 (computer related offences) and 66D (cheats by personating) of the Information Technology Amendment Act 2000, and started investigation.
“The accused, one Anna Li suspected to be from Hong Kong, befriended the complainant and lured him to invest in crypto currency and transfer it to a MetaTrader 5 application and later blocked his access to his funds amounting to ₹81 lakhs as the website was already compromised. This is the first case in Chhattisgarh and an emerging field altogether itself. Many such scams have taken place across the world. We are following various leads in this case like binance exchange transactions, IP addresses, social website intelligence, etc,” said Gaurav Rai, a probationary Indian Police Service (IPS) officer, who is investigating the case.

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::International::

UN Human Rights Office says ‘closely monitoring developments’

The Office of the United Nations High Commissioner for Human Rights (OHCHR) has said it is ‘closely monitoring’ the ongoing developments in Sri Lanka, where street protests have broken out against the ruling dispensation following the island nation’s worst economic crisis since its independence from the British rule, in 1948.
“We are closely following developments in Sri Lanka where in the past few days authorities announced a state of emergency and other restrictions in response to mass protests against the country’s worst economic crisis in decades,” Liz Throssell, the spokesperson of the UN High Commissioner for Human Rights, Michelle Bachelet, said in a press briefing.
Noting that the situation has worsened over the past two weeks, Throssell also criticised Sri Lankan authorities for what she described as ‘excessive and unwarranted’ police action against peaceful protesters, as well measures such as declaration of state emergency, imposition of a 36-hour curfew and restricting access to social media.
We will continue to closely watch developments. As noted by the High Commissioner in February, the drift towards militarisation and weakening of institutional checks and balances have affected the Sri Lankan State’s ability to effectively tackle the economic crisis. The High Commissioner has also previously voiced concern that the Government responds to criticism and dissent in ways that undermine civil space, and we reiterate these concerns today,” Throssell further remarked.

::Economy::

Tesla boss Elon Musk to join Twitter's board of directors

Twitter Inc said on Tuesday its top shareholder and Tesla founder Elon Musk will be appointed as one of its board directors. Musk will join the board of directors at Twitter after he revealed a massive stake in the social media platform.
On Monday, the billionaire had disclosed a 9.2 per cent stake in the social media company. Musk will serve as a Class II director, with the term expiring at Twitter's 2024 annual meeting of stockholders.
Twitter shares surged 6 per cent in trading before the opening bell, after closing up over 27 per cent.
Twitter Inc. said in a regulatory filing that it entered into an agreement with Musk on Monday that will give the billionaire a seat on its board, with the term expiring at its 2024 annual shareholders meeting.
Musk, either alone or as a member of a group, won't be allowed to own more than 14.9 per cent of Twitter's outstanding stock for as long as he's a board member and for 90 days after.
Welcoming Musk on board, Twitter chief executive officer Parag Agrawal said, “I’m excited to share that we’re appointing @elonmusk to our board! Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board.”
To which, Musk replied, “Looking forward to working with Parag & Twitter board to make significant improvements to Twitter in coming months!”

Cost of living rises in India as companies pass on higher prices to consumers

Indian manufacturers are running out of capacity to absorb rising input costs, with an increasing number passing it along to consumers in an economy already grappling with Asia’s third-fastest inflation and an uneven recovery.
Companies from the Indian units of Unilever Plc and Suzuki Motor Corp. to homegrown JSW Steel Ltd. are raising prices in response to the global supply squeeze made worse by the surge in energy costs following Russia’s invasion of Ukraine. Higher retail fuel prices are also threatening to hurt demand just as the economy returned to its first full-year of growth after the pandemic-induced 6.6% contraction in the fiscal year ended March 2021.
“Inflation remains unabated and is a cause of concern for the second year in a row,” said Ankush Jain, chief financial officer at Dabur India Ltd., one of the nation’s largest consumer-goods companies. As pressure on margins loom, Dabur plans to go for calibrated price increases, besides rolling out cost optimization measures to mitigate price pressures, he said.
“While not acknowledged by the central bank yet, there is telltale evidence of inflation likely being much higher,” said Kunal Kundu, an economist with Societe Generale GSC Pvt. That “can further imperil consumer confidence.”
Consumers are key to the country’s economic recovery, with private consumption accounting for some 60% of India’s gross domestic product. To foster demand, the central bank will likely keep borrowing costs lower for longer.

::Sports::

Lakshya Sen advances to Korea Open second round

World championships bronze medallist Lakshya Sen staved off a spirited challenge from local hope Choi Ji Hoon to enter the men's singles second round of the Korea Open Super 500 badminton tournament Suncheon.
Sen, who has been in sensational form in the last six months with back-to-back final finishes at German Open and All England Championships, beat Choi 14-21 21-16 21-18 in just over an hour in his opening round match.
The sixth seeded Indian will next meet Indonesia's Shesar Hiren Rhustavito.