Current Affairs Quiz - December, 2022

Notes:
The Kirit Parikh Committee on Gas pricing recently submitted its report to the Union Petroleum Ministry.
The panel has suggested that a floor price of USD 4 per million British thermal unit and a cap or ceiling price of USD 6.5 per mmBtu on gas from old or legacy fields. The panel has also recommended the prices of domestic gas should be linked to the international prices.

Notes:
Brazilwood or Paubrasilia echinata, the national tree of Brazil has been maintained in the Appendix II by the 19th COP19 to the Convention on International Trade in Endangered Species (CITES). The items under Appendix II may not necessarily be threatened with extinction.
The national wood of Brazil is a medium-sized tree that belongs to the Fababceae family. It is an endemic species of the Atlantic Forest of the country. Its wood is mainly used to make bows for musical instruments.

Notes:
Uttarakhand state government tabled the Uttarakhand Public Service (Horizontal Reservation for Women) Bill 2022.
It seeks to implement the system of 30 per cent horizontal reservation for women in the state. The government also tabled ‘Uttarakhand Religion Freedom (Amendment) Bill 2022’, to introduce strict law regarding religious conversions in the state.

Notes:
India and South Korea signed the arrangement regarding Economic Development Cooperation Fund loan of over 245 billion Korean won.
The agreement is for the establishment of Intelligent Transport System on Nagpur-Mumbai Super Communication Expressway Project in Delhi. South Korea was designated as India’s Official Development Assistance partner for development cooperation in, 2016.

Notes:
The government’s pre-matric scholarship to students of minority communities studying in classes 1 to 8 is being discontinued.
Students in Classes 9 and 10 will be eligible for this scholarship by the Ministry of Minority Affairs from 2022-2023. Under the Right to Education (RTE) Act, 2009, the Government provides free and compulsory elementary education (classes I to VIII) to each and every child.

Notes:
The Reserve Bank of India (RBI) on 1 December announced a four-tiered regulatory framework for categorisation of Urban Co-operative Banks (UCBs).
The norms are based on the net worth and capital adequacy of these banks. All unit UCBs and salary earners’ UCBs and all other UCBs having deposits up to ₹100 crore are placed in Tier 1. UCBs with deposits more than ₹100 crore and up to ₹1,000 crore are in Tier 2. Tier 3 will cover banks with deposits more than ₹1,000 crore and up to ₹10,000 crore. UCBs with deposits more than ₹10,000 crore have been categorised in Tier 4.

Notes:
Pakistan’s central bank said that Saudi Arabia has extended its term for a USD 3 billion deposit to support the foreign reserves of Pakistan.
Saudi Arabia agreed in October 2021 to revive its financial support to Pakistan, including about USD 3 billion in safe deposits and USD 1.2 billion worth of oil supplies on deferred payments. Pakistan requested to help improve its foreign exchange reserves.

Notes:
Every year on 4th December, the Indian Navy commemorates the commencement of Operation Trident against Pakistan during the Indo-Pak War 1971.
Indian Navy Day is observed to commemorate and to pay tribute to all Navy personnel who sacrificed their lives while serving the country.

Notes:
Israeli President Isaac Herzog held talks with Bahraini King and Crown Prince during the first trip by an Israeli head of state to the Gulf kingdom.
Isaac Herzog made the trip after the two countries normalised diplomatic relations in the year 2020.

Notes:
The Indian President approves new design of ‘President’s Standard and Colour’ and Indian Navy Crest.
These were unveiled in Visakhapatnam on the occasion of the Navy Day. The previous design of the President’s Standard and Colour for the Indian Navy was instituted on September 2017. The new design is based the new Naval Ensign which was adopted on September 2.