Current Affairs Quiz - December, 2021

Notes:
Section 124A of the Indian Penal Code (IPC) deals with the Sedition Law. This section defines sedition as an offence committed when “any person attempts to excite disaffection towards government established by law, by means of spoken or written words, or by signs, or by visible representation.
Union Law Minister Kiren Rijiju informed the Lok Sabha by a written reply that there is no proposal to scrap sedition law.  The Indian Penal Code was enacted in 1860, under the British Government.

Notes:
Asian Power Index is prepared by the Lowy Institute of Sydney. In the recently released index of 2021, the United States ranked at the top spot, for exerting influence over the region.
The Index, which ranks 26 nations and territories in Asia, ranks India as the 4th most powerful country. India has retained its 4th position, on the basis of several measures of power such as economic capability, military capability, resilience and cultural influence.

Notes:
The Retail inflation based on Consumer Price Index increased to a three-month high of 4.91 per cent in November.
As per the data released by the National Statistical Office (NSO), Food inflation increased to 1.87 per cent in November from 0.85 per cent a month ago. The inflation figure is within the 4+/-2 per cent target range of the Reserve Bank of India (RBI).

Notes:
“Q-Commerce” stands for “Quick commerce”, which essentially involves delivering customer orders faster than it does currently, by setting up micro-warehouses located closer to the point of delivery.
Online grocer Grofers has rebranded itself “Blinkit”, with a focus on “quick commerce”. Grofers decided to change its business model from the conventional grocer model to the quick-commerce model.

Notes:
The Asian Development Bank trimmed its 2021 growth forecast for India to 9.7% from the earlier estimate of 10.0% made in September. However it left the 2022 growth forecast unchanged at 7.5%.
The growth forecasts for developing Asia for this year and next were also slashed to 7.0% and 5.3%, in order to reflect risks and uncertainty brought by the new Omicron coronavirus variant.

Notes:
For the first time in European Union, Malta has become the first country to legalise cannabis at home and for personal use.
Under the new law of Malta, people aged 18 and above will be allowed to have up to seven grams of cannabis and grow up to four plants at home. But consuming cannabis in public remains illegal and punishable by a fine. The new law is set to go to the President for approval.

Notes:
The Reserve Bank of India (RBI) introduced a prompt corrective action (PCA) framework for large non-banking financial companies (NBFCs).
The PCA framework for NBFCs comes into effect on October 1 next year on the basis of their financial position on or after March 31. NBFCs not taking deposits and with an asset size of less than Rs 1,000 crore, primary dealers, government-owned NBFCs, and housing finance companies are exempt from this framework.

Notes:
Former US President Barack Obama has retained his position at the most admired man in the world as per an international survey carried out by YouGov.
For this survey, 42,000 people from 38 countries were asked who they admired most. Bill Gates is in second spot among men while Chinese President Xi Jinping is on third place. India’s Prime Minister Narendra Modi was listed as 8th most admired man. Among women, Michelle Obama bagged the top spot.

Notes:
The World Bank has announced a $93 billion package of the International Development Association (IDA) to help the poor countries tackle Covid crisis and boost economic growth.
The latest pledge includes $23.5 billion of contributions from 48 high- and middle-income countries, raised in the capital markets, repayments, and the World Bank’s own contributions.

Notes:
Rani Abbakka Chowta was the first Tuluva Queen of Ullal who fought the Portuguese in the second half of the 16th century.
Ullal is one of the oldest towns, which is now present in the state of Karnataka. Veera Rani Abbakka Utsava is celebrated every year in the state. Veera Rani Abbakka Award and Veera Rani Abbakka Puraskar for 2021 were presented to writers Chandrakala Nandavara and K.A. Rohini respectively.