Daily Current Affairs December 22

Dear Champions, as you all know that a lot of competitive exams have been notified consequently. Candidates have to prepare themselves according to the level of competition and expectation of the Recruitment board. Regarding that one of the most important topic is Daily Current Affairs December 22. Current Affairs in the form of contemporary events of national & international play a crucial role in almost every competitive exams like Banking, Insurance, SSC, UPSC, TNPSC, Railway etc.

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December 22 | Daily Current Affairs 2021

Important Days – Daily Current Affairs December 22

1. National Mathematics Day in India is observed on which date?
A) December 20
B) December 19
C) December 22
D) December 12
E) December 14
Answer: C) December 22

• Every year, 22 December is observed as National Mathematics Day in India to commemorate the birth anniversary of legendary mathematician, Srinivasa Ramanujan.
• The day marks the importance of mathematics in our life and encourages people to develop self-learning and rationale skills.
• Former Prime Minister Dr Manhmohan Singh declared 22 December as National Mathematics Day in 2012.
• Singh’s announcement had come during his visit to the Madras University on Ramanujan’s 125th birth anniversary.

Who was Srinivasa Ramanujan?

• Srinivasa Ramanujan was born on 22 December, 1887, in a Tamil Brahmin family in the city of Erode.
• He was known as ‘The Man Who Knew Infinity’ because of his infinite love for and contribution to mathematics.
• The mathematical genius could easily solve algebra and trigonometric problem which his fellow mates found difficult to crack.
• Ramanujan won a scholarship to study at Kumbakonam’s Government Arts College at the age of 17.
• He, however, failed in some of the other subjects and lost the scholarship.
• The math wizard did not lose hope and tutored students while also contributing to the Journal of Indian Mathematical Society.
• At the age of 26, Ramanujan was invited to the University of Cambridge for his statements on 120 mathematical theorems on infinite series, continued fractions, improper integrals and number theory.
• The mathematician went on to become the first Indian to be elected a Fellow at Trinity College and was also the youngest Fellow of Royal Society in London for his work on Elliptic functions and theory of numbers.
• Having compiled more than 3,000 mathematical results and equations, the mathematician returned to India in 1919 and passed away due to tuberculosis the next year.

Indian Army celebrates 38th Corps Day of Judge Advocate General’s Department:

• Indian Army celebrated the 38th Corps Day of Judge Advocate General’s Department on 21 December 2021.
• On the occasion, Lieutenant General Harsha Gupta, Adjutant General and Colonel Commandant of the Judge Advocate General’s Department and Major General Praveen Kumar, the Judge Advocate General laid wreath at the National War Memorial to pay tribute to the bravehearts of the Nation.
• The Judge Advocate General’s Department traces its history to the British Articles of War-1385.
• Army Act Bill was laid in Parliament on 21 December 1949, and therefore, 21 December is celebrated as the Corps Day of Judge Advocate General’s Department.
• Being the legal branch of the Indian Army, it deals with military-related disciplinary cases and litigation.
• The Judge Advocate General is the legal advisor to the Chief of Army Staff in matters of military, martial (in its fighting service aspect) and international law and also assists the Adjutant General in matters relating to discipline involving application of military law.

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Sports – Daily Current Affairs December 22

2. Which state team beat Uttar Pradesh to clinch the 11th Hockey India Senior Men’s National Championship 2021 title?
A) Karnataka
B) Punjab
C) Jharkhand
D) Bihar
E) Telangana
Answer: B) Punjab

• Punjab beat Uttar Pradesh 2-1 in a shoot-out to clinch the 11th Hockey India Senior Men’s National Championship 2021 title here.
• The first half ended goalless in a closely contested final between the two heavyweights.
• The deadlock continued in the second half as well, with neither of the teams coming close to scoring in the regulation time.
• Punjab goalkeeper Kamalbir Singh emerged as the hero of the match, making as many as four saves in the shoot-out to help his team clinch the title.
• Meanwhile, Karnataka defeated Maharashtra 5-2 to finish third in the tournament.
• Karnataka established an early two-goal cushion, courtesy of goals from Kumar Yathish B (3′) and Captain Mohd. Raheel (5′).
• Not giving up easily, Maharastra went on to equalise through two goals from their Captain Taleb Shah in the 24th and 33rd minute respectively.
• However, it wasn’t enough as goals from Pavan Madivalar (37′) and Chiranth Somanna N.D (45′) put Karnataka in the driver’s seat at the end of the third quarter.
• Likhith BM’s goal in the 52nd minute ensured Karnataka clinch the bronze medal.

Asian Champions Trophy: India beat Pakistan 4-3 to win bronze medal:

• India won bronze medal beating Pakistan 4-3 in Dhaka on Wednesday in Asian Champions Trophy Hockey tournament.
• The match went down to the wire with both teams going full throttle against each other in order to stamp their authority.
• India started on a bright note after Harmanpreet Singh scored from the penalty corner earlier which helped India take a 1-0 lead in the first quarter.
• However, Pakistan’s Afraz equalised for his team soon and brought the game to equal terms.
• Abdul Rana scored Pakistan’s second goal as India went behind 2-1 in the third quarter of play.
• India however gathered momentum and took a crucial 3-2 lead in the final quarter through Varun Kumar on a penalty corner after Gursahibjit Singh brought India in the game as he scored the equaliser for India at the stroke of the fourth quarter with the score level at 2-2.
• Eventually, Akashdeep Singh scored India’s final goal to put India ahead 4-2 and within touching distance of a medal.
• Pakistan’s third goal went in vain as India ended the tournament at the third place.
  India have won the prestigious tournament in 2016 and were joint winners in 2018.

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3. Which edition of All India Inter-University Athletics Championship will be held from January 4 to January 7 at Moodbidri near Mangaluru in Dakshina Kannada district, Karnataka?
A) 83
B) 82
C) 84
D) 86
E) 81
Answer: E) 81

• The 81st All India Inter-University Athletics Championship will be held from January 4 to January 7 at Moodbidri near Mangaluru in Dakshina Kannada district, Karnataka.
• Union Minister for Youth Affairs and Sports Anurag Thakur will inaugurate the championship on January 4 at Swaraj Maidan, Mangalore University Registrar C.K. Kishore Kumar informed reporters at Moodbidri.
• Over 400 universities, more than 2,000 athletes and 1,000 sports officers are expected to participate.
• The championship is being jointly organised by Association of Indian Universities (AIU), Mangalore University and Alva’s Education Foundation (AEF), Moodbidri.
• The championship will have 23 events. Online registration was made available for the participants.
• The four-day event would see national and international level sportspersons in action.
  Modern photo-finish technology will be set up at the venue.
• Free food, accommodation and transport facilities for athletes and officials has been arranged.
• Winners would be selected for the Khelo India and International University athletics meet, said Mr. Kumar.

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Ranking – Daily Current Affairs December 22

4. Which IIT bags first position among most innovative institutions as selected by CII?
A) IIT Madras
B) IIT Bombay
C) IIT Hyderabad
D) IIT Roorkee
E) IIT Ropar
Answer: D) IIT Roorkee

• For the second year in a row, IIT Roorkee has been selected by the prestigious Confederation of Indian Industry (CII) for the Industrial Innovation Awards.
• IIT Roorkee bagged the first position under the Most Innovative Research Institutions category this year.
• The second and third positions have gone to IIT Madras and the Indian National Centre for Ocean Information Services, Hyderabad (INCOIS), respectively.
• Last year, IIT Roorkee was adjudged as ‘The Most Innovative Institute of the Year’ for its innovation quotient.
• The awards were announced at the 27th DST-CII Technology Summit in the presence of Dr. Srivari Chandrashekhar, Secretary, DST, Government of India and Kris Gopalakrishnan, Past President, CII and Chairman, CII Industrial Innovation Awards.

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5. Which company topped 2021 Wizikey News Score ranking as India’s most visible corporate in the media?
A) State Bank of India
B) Infosys
C) Tata Motors
D) Bharti Airtel
E) Reliance Industries
Answer: E) Reliance Industries

• Reliance Industries – India’s largest corporate by revenues, profits and market value – topped 2021 Wizikey News Score ranking as India’s most visible corporate in the media.
• The recognition comes on the back of Exchange4Media Group’s recognition recently to Reliance as one of India’s Brands with Best In-house Communications Professionals 2021.
• Role of a vibrant and savvy Corporate Communications team is extremely important in ensuring media visibility for any company.
• Wizikey’s News Score is world’s first standardised metric to measure news visibility for brands and individuals using Artificial Intelligence, Big Data, Machine Learning and media intelligence.
• The News Score takes into account various key criteria like volume of news, headlines presence, the reach of publications, readership and the like.
• The score ranges from 0 to 100, and is based on monitoring of over 5000 publications.
  It represents the media presence of a brand in publications that matter.
• For its No 1 position Reliance has a News Score of 84.9 for 2021, followed by State Bank of India, Bharti Airtel, Infosys, Tata Motors.
• Only a few global companies like Google and Facebook have a score above 90.

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Banking and Finance – Daily Current Affairs December 22

6. Which bank and U GRO Capital signed a co-lending agreement and plans to disburse up to Rs 1,000 crore to medium, small and micro enterprises (MSMEs) over the next 12 months?
A) Kotak Mahindra Bank
B) DBS Bank
C) Central Bank of India
D) ICICI Bank
E) HDFC Bank
Answer: C) Central Bank of India

• State-run Central Bank of India and U GRO Capital signed a co-lending agreement and plans to disburse up to Rs 1,000 crore to medium, small and micro enterprises (MSMEs) over the next 12 months.
• The disbursement will be to U GRO Capital’s varied MSME segments under its programs – Pratham, Sanjeevani, Saathi, GRO MSME and machinery financing, a release said.

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7. Who launches ‘Plural Tokenizer’ to help firms with RBI norms?
A) Pine Labs
B) BharatPe
C) PhonePe
D) Cashfree
E) Dvara E-Registry
Answer: A) Pine Labs

• Pine Labs, an online merchant commerce platform, has launched a tokenisation solution that works across leading card networks, announcing the service in line with new data security guidelines by India’s central bank coming into effect from January 1.
• ‘Plural Tokenizer’ Card-on-File or CoF tokenisation solution will replace the debit or credit card details of a cardholder with what are called ‘tokens’ or randomly generated numbers.
• It uses OTP-based two-factor Authentication, ensuring cryptograms unique to each transaction and issuance of tokens to merchants for a particular use case that cannot be used outside that specific merchant (CoF) use case or domain (F2F) use case.
• The service should be handy as the Reserve Bank of India (RBI) guidelines mandate no entity other than the card issuer or card networks to store actual cardholder data with effect from January 1, 2022.
• Plural Tokenizer is another major data security-focused launch at Pine Labs. In January 2021, Pine Labs had launched AllTap, a robust PCI SSC compliant Contactless Payments on COTS (CPoC) solution that underwent an extensive audit and certification from PCI SSC and leading networks like Amex, Mastercard, RuPay, and Visa.
• Mastercard and Google have rolled out tokenization that will enable Google Pay users to safely transact using their Mastercard credit and debit cards.
• Through tokenization, Mastercard cardholders can make payments through a secure digital token without having to share their credit or debit card details such as card number, expiry date, etc. with a merchant.
• This collaboration is a commitment to ensure the best-in-class user experience and security features in an increasingly digital-first world.
• With this collaboration, Google Pay Android users can scan and pay across all Bharat QR-enabled merchants, tap-and-pay, and make in-app transactions through their Mastercard debit and credit card.
• For a convenient registration, users will do a one-time setup by entering their card details and their OTP to add their card on the Google Pay app.

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8. Which stock exchange launched a new corporate governance initiative – ‘Prime’, a framework that prescribes higher standards of corporate governance for listed companies than those required by regulations?
A) Luxemburg Stock Exchange
B) NASTAQ
C) New York Stock Exchange
D) BSE
E) NSE
Answer: E) NSE

• NSE launched a new corporate governance initiative – ‘NSE Prime’, a framework that prescribes higher standards of corporate governance for listed companies than those required by regulations.
• All the NSE-listed companies can adopt NSE Prime voluntarily.
• These additional disclosure requirements that have also been prescribed will provide for a higher quality of public information and greater transparency.
• “Listed companies that voluntarily choose to be part of NSE Prime will need to comply with pre-defined norms on an ongoing basis, which will be monitored by NSE,” a release said.
• The initiative will raise the bar for corporate governance standards in India, enable investors to identify companies that have voluntarily signed up for higher standards of corporate governance, broaden the quality of investors in listed companies and further strengthen trust in Indian capital markets.

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Books and Authors – Daily Current Affairs December 22

9. Barkat: The Inspiration and the Story Behind One of World’s Largest Food Drives FEED INDIA is authored by whom?
1) Kavitha Rao
2) Bimal Prasad
3) Vikas Khanna
A) Only 1
B) Only 3
C) Only 2
D) Only 1 & 3
E) Only 2 & 3
Answer: B) Only 3

• Celebrity Chef Vikas Khanna’s new book, ”Barkat: The Inspiration and the Story Behind One of World’s Largest Food Drives FEED INDIA”, will hit the stands on December 27, Penguin Random House India (PRHI) has announced.

Agriculture minister releases book titled “Spices Statistics at a Glance 2021”:

• Agriculture Minister Narendra Singh Tomar has released the book titled Spices Statistics at a Glance 2021’.
• The book is a compendium of all the spices statistics like area, production, productivity, export, import, price and value of output of various spices produced in the country.
• The book has been published by the Directorate of Arecanut and Spices Development, the nodal agency for collection and compilation of area and production estimates of spices at the National level.
• The book highlights the growth achieved in spices sector during the last seven years.
• Spices production in the Country has grown from over 67 lakh tonnes in 2014-15 to over 106 lakh tonnes in 2020-21 with an annual growth rate of 7.9 percent.
• Among the major spices, Cumin, Garlic, Ginger, Fennel, Coriander, fenugreek, Red chilli and Turmeric have shown significant growth rate in production.
• Spices export has grown from nearly 9 lakh tonnes to 16 lakh tonnes during this period logging an annual growth rate of 9.8 percent in terms of volume.
• In terms of value, the annual growth rate of spices export has been 10.5 percent during this period.

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National Affairs – Daily Current Affairs December 22

10. PANEX-21, a Humanitarian Assistance and Disaster Relief (HADR) Exercise for BIMSTEC member nations, organised in which state?
A) Assam
B) Maharashtra
C) Tripura
D) Madhya Pradesh
E) Tamil Nadu
Answer: B) Maharashtra

• Defence Minister Rajnath Singh witnessed a Multi-Agency Exercise (MAE) and inaugurated an equipment display on the second day of PANEX-21, a Humanitarian Assistance and Disaster Relief (HADR) Exercise for BIMSTEC member nations, organised at College of Military Engineering in Pune, Maharashtra.
• As per an official release by the Ministry of Defence, Rajnath Singh witnessed a demonstration of the capabilities of the Indian Armed Forces to launch swift, coordinated and incremental relief efforts in case of occurrence of any natural calamity in a particular region.
• The exercise saw a coordinated display of rescue and relief efforts by the Indian Army, Navy and Air Force.
• In simulated disaster conditions, the synergised application of resources of the Armed Forces and other premiere disaster relief agencies of the country resulted in the rescue of the stranded people as well as early restoration of essential services and opening of all lines of communications.
• The equipment display, organised in association with the Federation of Indian Chambers of Commerce & Industry (FICCI), is aimed to showcase the niche industrial capabilities and capacities of the Indian industry on disaster relief operations.

Rajnath Singh unveils ‘Made in India’ Multi-terrain Artillery Gun:

• Union Defence Minister Rajnath Singh launched one of its kind indigenous Multi-terrain Artillery Gun (MArG) 155 – BR in the presence of Army Chief General Manoj Mukund Naravane.
• In line with the Government’s Make-in-India and Atmanirbhar Bharat Mission, Pune-based Indian MNC Bharat Forge Ltd has developed this sophisticated weapon, adding another feather in its cap.
• The Made-In-India MArG 155 – BR is the only 155mm 39 caliber gun system mounted on 4×4 HMV in the world.
• The vehicle weighs 18 ton and has the capability to be deployed even in mountain regions.
• The gun system is equipped with shoot and scoot capability, providing advanced technical performance and high integration, explained the company.

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11. Who inaugurates National Oxygen Stewardship Program to ensure rational utilization of oxygen?
A) Bharati Pravin Pawar
B) Ashwini Vaishnaw
C) Bhagwanth Khuba
D) Kiren Rijiju
E) Nitin Gadkari
Answer: A) Bharati Pravin Pawar

• Union Minister of State for Health and Family Welfare Dr Bharati Pravin Pawar inaugurated the National Oxygen Stewardship Program at AIIMS to train Oxygen Stewards in each district across the country.
• The initiative envisages the identification and training of professionals in each district across the country to ensure rational utilization and avoid any wastage of medical Oxygen.
• These trained professionals would be responsible for leading the training on Oxygen therapy and management in their respective districts and also support an audit of oxygen delivery and preparedness when necessary.
• They would be responsible for Oxygen therapy and management in their respective districts and also support an audit of oxygen delivery and preparedness for a surge scenario, said Dr Pawar.
• As per information, the Government of India has sanctioned more than 1,500 Pressure Swing Adsorption (PSA) oxygen generation plants out of which 1463 have been commissioned.

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12. India successfully conducted the maiden flight test of the indigenously-developed, surface-to-surface missile ‘Pralay’ off the Odisha coast. What is the range of _______?
A) 150 to 600 km
B) 150 to 400 km
C) 150 to 300 km
D) 150 to 200 km
E) 150 to 500 km
Answer: E) 150 to 500 km

• India successfully conducted the maiden flight test of the indigenously-developed, surface-to-surface missile ‘Pralay’ off the Odisha coast, the DRDO said.
• The solid-fuel, battlefield missile developed by the Defence Research Development Organisation is based on Prithvi Defence Vehicle from the Indian ballistic missile programme.
• The missile, launched from the APJ Abdul Kalam Island around 10.30 AM, met all the mission objectives, the DRDO said in a statement.
• With a range of 150 to 500 km, ‘Pralay’ is powered with solid propellant rocket motor and other new technologies.
• The missile guidance system includes state-of-the-art navigation and integrated avionics, the statement said.

Indigenously developed next-generation AERVs inducted into Army:

• The first set of indigenously developed next-generation Armoured Engineer Reconnaissance Vehicle (AERV) was inducted into the Corps of Engineers of the Army , a defense release said.
• Army chief General M M Naravane inducted the vehicles and flagged them off in a ceremony at the Bombay Engineer Group (BEG) at Khadki near here.
• The system has been designed by the Defence Research and Development Organisation (DRDO) and manufactured by Ordnance Factory Medak & Bharat Electronics Limited, Pune.
• Despite restrictions on account of the COVID-19 pandemic, the supply of these vehicles has been on schedule, the release said.

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13. AIM, NITI Aayog launches Vernacular Innovation Program in ___ languages?
A) 21
B) 23
C) 24
D) 25
E) 22
Answer: E) 22

• With an ambition to empower innovators and entrepreneurs across the country, Atal Innovation Mission (AIM), NITI Aayog has come up with a first of its kind Vernacular Innovation Program (VIP), which will enable innovators and entrepreneurs in India to have access to the innovation ecosystem in 22 scheduled languages by the Government of India.
• To build the necessary capacity for the VIP, AIM has identified and will be training a Vernacular Task Force (VTF) in each of the 22 scheduled languages.
• Each task force comprises of vernacular language teachers, subject experts, technical writers, and the leadership of regional Atal Incubation Centers (AICs).
• To get the program rolling, AIM NITI Aayog is launching a train-the-trainer program where it will collaborate with the Design Department of IIT Delhi to coach the VTF in design thinking and entrepreneurship and the adaptation of these subjects in the 22 languages and cultures.
• Furthermore, industry mentors have joined hands to lend design thinking expertise, and CSR sponsors have agreed to generously support the program.
• Upon training the task force over the period of December 2021 to April 2022, the ecosystem will be opened to vernacular innovators.

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14. Which state launches ‘Jagananna Sampoorna Gruha Hakku’ (One-Time Settlement) scheme?
A) Assam
B) Maharashtra
C) Tripura
D) Andhra Pradesh
E) Tamil Nadu
Answer: D) Andhra Pradesh

• Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy celebrated his 49th birthday by launching ‘Jagananna Sampoorna Gruha Hakku’ (One-Time Settlement) scheme in Tanuku town of West Godavari district under which over 52 lakh families would be given complete rights with the registered title of their houses.
• Addressing the gathering, the Chief Minister said that in the last 30 months the government has credited Rs 1.16 lakh crore to people through Direct Benefit Transfer (DBT) without the interference of middlemen under various welfare initiatives.
• “The situation can be changed with OTS scheme, where the government is waiving off the Rs 10,000 crore outstanding housing loans of 40 lakh beneficiaries who availed loans from the AP Housing Board Corporation since 2011 and beneficiaries will be given house documents with clear titles with free registration benefitting 52 lakh people”, he explained.
• As part of the scheme, the Chief Minister distributed registered documents to 8.26 lakh people who have enrolled for OTS.
• Similarly, people who have constructed houses in the government allotted lands with their own money and don’t have full rights can avail registration by paying just Rs 10 and secure their property.
• For free registrations alone, the government has been spending Rs 6,000 crore, he said.
  Mr Reddy said that the entire value of the assets would be around Rs 1,58,000 crore, and the beneficiaries can avail the scheme by paying nominal amounts of Rs 10,000 in villages, Rs 15,000 in municipalities, and Rs 20,000 in municipal corporations.
• In case the loan amount is less than the stipulated amounts, the beneficiaries can then pay the outstanding loan amount and get complete rights on their property, he said and added that the scheme is extended up to Ugadi (April 2) and urged people to make best use of it.

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15. Prime Minister Shri Narendra Modi has approved the signing of Memorandum of Understanding (MoU) between Competition Commission of India (CCI) and Competition Commission of ____ for promotion and strengthening of co-operation in competition law and policy?
A) South Korea
B) France
C) Indonesia
D) Spain
E) Mauritius
Answer: E) Mauritius

• The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the signing of Memorandum of Understanding (MoU) between Competition Commission of India (CCI) and Competition Commission of Mauritius (CCM) for promotion and strengthening of co-operation in competition law and policy.

Implementation Strategy and Targets:

• The MoU aims to promote and strengthen cooperation in matters of competition law and policy through exchange of information, sharing of best practices and capacity building initiatives.
• It is intended to promote mutual co-operation in the areas of technical co-operation, experience sharing and enforcement co-operation.
• The resultant outcomes would benefit consumers at large and promote equity and inclusiveness.

Impact:

• The MoU between CCI and CCM is expected to:
  (a) Address anticompetitive restraints that affect international trade;
  (b) Improve enforcement of the Competition Act, 2002 by CCI;
  (c) Promote understanding of competition policy;
  (d) Capacity building;
  (e) Bring diplomatic benefits;
• Ministry of Corporate Affairs, Competition Commission of India on the Indian side and Competition Commission of Mauritius on the other side would be major beneficiaries in this Memorandum of Understanding.

Background:

• Section 18 of the Competition Act, 2002 permits CCI to enter into any memorandum or arrangement with any agency of any foreign country for the purpose of discharging its duties or performing its functions under the Act.

Cabinet approves Memorandum of Understanding between Institute of Chartered Accountants of India (ICAI) and The Polish Chamber of Statutory Auditors (PIBR):

• The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, today has approved the signing of Memorandum of Understanding (MoU) between the Institute of Chartered Accountants of India(ICAI) and the Polish Chamber of Statutory Auditors (PIBR) to establish mutual co-operation in the areas of Member Management, Professional Ethics, Technical Research, CPD, Professional Accountancy Training, Audit Quality Monitoring, Advancement of Accounting Knowledge, Professional and Intellectual Development.

Implementation Strategy and Targets:

• The proposed MoU aims to strengthen co-operation in the matters of study and application of new innovative methods in the field of audit and accounting including application of blockchain, smart contract system, transition from Traditional Accounting to Cloud Accounting etc.
• ICAI and PIBR also intend to share information through exchange of books, magazines and other publications published by professional organizations, mutual publication of articles on audit and accounting on the magazines and websites of both parties and to undertake joint co-operation in the fight against corruption and money laundering.

Impact:

• The MoU between ICAI and PIBR, Poland, is expected to strengthen its foot prints in Europe by providing prospects for the ICAI Members to get professional opportunities in Poland in short to long term future.
• The aim of MoU is to work together to develop a mutually beneficial relationship for the members of ICAI and PIBR.
• With MoU, ICAI would be able to strengthen the partnership with Poland by providing the Export of Services in the accountancy profession.
• ICAI members are holding middle to top level positions in various organisations across the countries and can influence the decision/policy making strategies of respective organizations of a country.
• ICAI through its vast network of Chapters and Representative Offices in 73 cities of 47 countries of the world is committed to play an important role by sharing the prevalent practices in these countries so that the Government of India can adopt the best practices being followed by them to attract foreign investment and to encourage them to establish their setup in India.
• This MoU will benefit Ministry of Corporate Affairs, Institute of Chartered Accountants of India and The Polish Chamber of Statutory Auditors (PIBR).

Background:

• The Institute of Chartered Accountants of India (ICAI) is a statutory body established under the Chartered Accountants Act, 1949 for regulating the profession of Chartered Accountants in India.
• ICAI has contributed immensely in the field of education, professional development, maintenance of high accounting, auditing and ethical standards in furtherance of the profession of Chartered accountants, which is recognized globally.
• The Polish Chamber of Statutory Auditors (PIBR) a self-government of Statutory Auditors was established in accordance with the Act of October 1991 on auditing and publishing financial statements and on statutory auditors which came into force on 1 January 1992 to regulate the audit profession in Poland.

Cabinet approves Minimum Support Price (MSP) for Copra for 2022 season:

• The Cabinet Committee on Economic Affairschaired by the Prime Minister Shri Narendra Modi, has given its approval for the Minimum Support Prices (MSPs) for copra for 2022 season.
• The MSP for Fair Average Quality (FAQ) of milling copra has been increased to Rs10,590/- per quintal for 2022 season from Rs.10,335/- per quintal in 2021 and the MSP for ball copra has been increased to Rs.11,000/- per quintal for 2022 season from Rs.10,600/- per quintal in 2021.
• This is to ensure a return of 51.85 percent for milling copra and 57.73 percent for ball copra over the all India weighted average cost of production.
• The increase in MSP for copra for 2022 season is in line with the principle of fixing the MSP at a level of at least 1.5 times the all India weighted average cost of production as announced by the Government in the Budget 2018-19.
• The decision is based on recommendations of the Commission for Agricultural Costs and Prices (CACP).
• It assures a minimum of 50 percent as margin of profit as one of the important and progressive steps towards making possible doubling of farmers’ incomes by 2022.
• The National Agricultural Cooperative Marketing Federation of India Limited and National Cooperative Consumer Federation of India Limited will continue to act as Central Nodal Agencies to undertake price support operations at the MSP in the coconut growing States.

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