3.12.22 UKPSC Daily Current Affairs

U’khand lives up to the reputation of being the land of braves
Uttarakhand is popularly also referred to as the land of the brave soldiers and this will be reflected again during the Passing out Parade (PoP) at Indian Military Academy (IMA) on Saturday. Twenty nine young men from this small predominantly mountainous State would become officers in the Indian Army after the PoP of the autumn term-2022 on Saturday. A total of 314 Gentlemen Cadets (GCs) would become proud officers of the Indian army on Saturday when they  step on the Antim Pag (last step) of the academy after the PoP.
Uttar Pradesh with 51 GCs leads the table of State-wise representation of GCs while Haryana is at second position with a passing out contingent of 30 GCs. Uttarakhand is at third place with a contingent of 29 GCs in the parade.
Bihar with 24 and Maharashtra and Punjab with 21 GCs each are other big contributors in the list. Himachal Pradesh would have 17 GCs in the passing out parade. The largest State in terms of area, Rajasthan would contribute 16 and the second largest state Madhya Pradesh would provide 15 GCs in the passing out contingent of officers.
Another big state Andhra Pradesh will have only four GCs in the PoP while Tamil Nadu would be represented by seven GCs in the passing out contingent. The State of Gujarat where serving in the armed forces is not considered a popular choice will have five GCs passing out with this course. The States of Chhattisgarh and Jharkhand which were created along with Uttarakhand in the year 2000  would have less representation with only four and two GCs  respectively. Incidentally both these States are much bigger in area and population compared to Uttarakhand.
The IMA would also be sending a batch of 30 Foreign Gentlemen Cadets (FGCs) from 11 friendly foreign countries to become officers in their respective countries after the end of training.
World Bank hints that Global Economy on a steep Slowdown
Global Economy on a steep Slowdown: According to the most recent World Bank study, the
global economy is experiencing a sharp decline after almost a year of uncertainty in 2022. TheWorld Bank report noted that the COVID-19 pandemic’s repercussions are still being felt todayin the form of education losses, worldwide inflation, supply chain disruptions, and other issueson a global scale.
The economy of the three biggest economies in the world—the United States, China, and theeuro zone—have been rapidly slowing.
It went on to say that given the situation, even a slight blow to the world economy over the
course of the ensuing year may send it into a recession.
In its study, the World Bank also noted that the escalating intensity of natural disasters
continues to shed light on the social and economic effects of climate change.
India to assume chairmanship of Wassenaar Arrangement on January 1, 2023
India will assume chairmanship of the plenary of the Wassenaar Arrangement for a year on
January 1, 2023, just five years after joining the 42-member voluntary export control regime
that monitors transfers of conventional weapons and dual-use goods.
The body is a multilateral export control regime that works to promote transparency and
greater responsibility in transfers of conventional arms and dual-use goods and technologies
Through regular exchanges of information among its members.
Membership of the Wassenaar Arrangement has also bolstered India’s efforts to gain access to ensitive goods and technologies from leading players in the West.
Sebi asks exchanges to set up Investor Risk Reduction Access platform
Markets regulator Sebi asked stock exchanges to set up an Investor Risk Reduction Access (IRRA) platform to give investors an opportunity to square off their position or cancel pending orders in case of disruption of trading services provided by trading members.
It said in recent times, with increasing dependence on technology in the securities market,
there is a rise in instances of glitches in trading members’ systems, some of which lead to
disruption of trading services and investor complaints.
As per the provisions, trading members, upon facing technical glitches which lead to disruptionof trading services, can request for enablement of the IRRA service.
Climate Investment Opportunities in India’s Cooling Sector report
The report said that as temperatures steadily rise in India due to climate change, keeping spaces cool using alternative and innovative energy efficient technologies can open an investment opportunity of $1.6 trillion by 2040.
This also has the potential to reduce greenhouse gas emissions significantly and create nearly 3.7 million jobs.
The report has found that shifting to a more energy efficient pathway could lead to a substantial reduction in expected CO2 levels over the next two decades.
India’s cooling strategy can help save lives and livelihoods, reduce carbon emissions and simultaneously position India as a global hub for green cooling manufacturing.
The report suggests a sustainable roadmap for cooling that has the potential to reduce 300 million tons of carbon dioxide annually by 2040.
Space Tech Innovation Network
The Indian Space Research Organisation (ISRO) has signed a Memorandum of Understanding (MoU) with Social Alpha to establish a SpaceTech Innovation Network (SpIN).
Social Alpha is a multistage innovation curation and venture development platform supporting activities concerning science and technology. It supports innovators and entrepreneurs who are involved in the creation of social, economic and environmental impact to address India’s developmental challenges. It operates through a nationwide network of technology and business incubation infrastructure, with the sponsorship from Tata Trusts, the Indian Government, and other academic, philanthropic and corporate partners.
Implementation of Seed Scheme
The Ministry of Social Justice and Empowerment is implementing a Scheme for Economic Empowerment of DNTs (SEED) for Development and Welfare of DNTs. In order to ensure that the benefit of the scheme reaches to the real targeted beneficiaries, the Ministry has also developed and opened the portal for SEED in September, 2022 calling for applications.
About 4700 applications available on the portal have been extracted from the portal and forwarded to State Governments for verification.
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