International News
International year of Millets, 2023
- The Indian government has supported a proposal to designate 2023 as the International Year of Millets, which the United Nations General Assembly has approved.
- The Food and Agriculture Organization (FAO) supported India's request to observe an International Year of Millets in 2023 in 2018, and the United Nations General Assembly declared 2023 to be the International Year of Millets.
India has become the world’s third-largest Auto Market
- In 2022, India will surpass Japan to become the third-largest auto market in the world, according to Nikkei Asia report. India outsold Japan in new car sales, with 4.25 million vehicles sold, according to preliminary figures.
- With 26.27 million units sold, China continued to be the world's top auto market, ahead of the United States (US), which came in second with 15.4 million cars, and Japan, which came in third with 4.44 million.
National News
IISc will serve as the Secretariat for G20 science working group
- The G20 summit's Science 20 (S20) working committee on science has selected the Indian Institute of Science (IISc) in Bengaluru as its secretariat.
- Science 20 (S20) 2023 will work towards resolving common global-level challenges like poverty.
Supreme Court gives its verdict on the Demonetization case
- The central government's notification of November 8, 2016, was adjudged to be lawful and to pass the proportionality test, according to the decision, which was reached by a 4:1 majority of the Constitution Bench.
- The court ruled that the Centre has the authority to demonetize all note series and that the Centre and the Reserve Bank of India (RBI) had been in consultation for six months prior to the demonetization.
Banking
IRDAI mandates KYC starting from January 1, 2023
- Currently, purchasing non-life or general insurance plans like health insurance, auto insurance, and travel insurance does not require KYC documentation.
- The time limit will be two years for "low-risk" policyholders and one year for all other customers, including "high-risk" customers, for the insurers to obtain the KYC papers from existing clients.
Stock exchanges to set up an Investor Risk Reduction Access (IRRA) platform
- The Securities and Exchanges Board of India (SEBI) has ordered stock exchanges to establish an Investor Risk Reduction Access (IRRA) platform.
- There are more instances of system errors among trading participants as a result of the securities market's increasing reliance on technology, some of which have caused the disruption of trading services.
This digest is not complete. Read the complete digest on the General Awareness Course.
