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Current Affairs - 8th December 2022

1 ) GoI Invests Over Rs 5,000 Crore More in ‘SWAMIH Investment Fund I’ To Help Homebuyers

The “SWAMIH Investment Fund I,” which invests in distressed residential projects and is backed by SBICAP Ventures Limited (SVL), has received approximately Rs 5,000 crore investment from the Government of India (GoI), bringing the fund’s ultimate value to Rs 15,530 crore. This is among the largest capital raised by any fund in
India in recent years. The “SWAMIH Investment Fund I” was established under the SpecialWindow for Affordable and Mid-Income Housing (SWAMIH). This fund intends to infuse capital into stressed projects in order to assist home buyers across India in receiving delivery of their stuck apartments.

Key points:

• SWAMIH is a ‘category II’ Alternative Investment Fund (AIF) introduced in September 2019 by Union Finance Minister Nirmala Sitharaman and approved by the Cabinet in November 2019.
• It is India’s largest social impact fund that aims to offer priority debt financing for the completion of stressed, brownfield, and RERA-registered residential projects that fall under the affordable and midincome
housing categories.

2 ) 7th Edition of Global Technology Summit

External Affairs Minister (EAM) Dr S Jaishankar addressed the 7th Edition of the Global Technology Summit, a 3-day summit, in New Delhi, Delhi about the rise of India’s link with the rise of Indian technology.

Key points:

•It is India’s annual flagship event on Geotechnology, which was jointly hosted by the Ministry of External Affairs and Carnegie India.
•The theme for the 7th Global Technology Summit is Geopolitics of Technology.
•Ministers and senior government officials from the United States (US), Singapore, Japan, Nigeria, Brazil, Bhutan, the European Union, and other countries attended the Summit.

3 ) SIDBI & Saudi Arabia’s Monsha’at signs MoU to develop MSMEs

A Memorandum of Understanding (MoU) has been signed between the Small Industries Development Bank of India (SIDBI) and Small and Medium Enterprises General Authority of the Kingdom of Saudi Arabia (also known as Monsha’at) to develop Micro, Small and Medium enterprises (MSMEs) and their ecosystem, in both the countries.

Key points:

• It was signed by V Satya Venkata Rao, Deputy Managing Director, SIDBI; and Mazin Bin Ahmed Al-Ghunaim, CEO, SME Bank, during the launch of SME Bank, in Riyadh, Saudi Arabia.
• It is part of the bilateral initiative to improve diplomatic relations between India and Saudi Arabia.
• Under this MoU, both sides will explore and collaborate on matters of common interest.
• Collaboration will also be done between the MSME institutions of the both countries.
• SIDBI will also offer its expertise to the newly launched SME Bank of Saudi Arabia.

4 ) ADB: Approves USD 780 million Loan to Expand Chennai’s Metro Rail Network

The Asian Development Bank (ADB) approved a loan of USD 780
million to build new lines for Chennai metro rail and improve its
network connectivity with bus and feeder services.

Key points:

• It is part of the bilateral initiative to improve diplomatic relations between India and Saudi Arabia.
• Under this MoU, both sides will explore and collaborate on matters of common interest.
• Collaboration will also be done between the MSME institutions of the both countries.
• SIDBI will also offer its expertise to the newly launched SME Bank of Saudi Arabia.

5 ) ADB and IIFL Home Finance Ltd organised ‘Kutumb’ Event in Delhi

Asian Development Bank (ADB) and India Infoline Limited- Home Finance Ltd. (IIFL HFL) organised
Kutumb‘ event in Delhi discussing scope around green affordable housing in India. The ‘Kutumb’ was
launched on 2nd December 2022 with an event titled ‘Green
Affordable Housing Ecosystem’ in Delhi.

Key points:

•Kutumb actively collaborates and consults with developers, architects, and rating agencies to promote green, sustainable,
future-ready, and affordable housing.
•The event focuses on mainstreaming green and affordable housing in India.
• In February 2022, IIFL HFL signed a USD 68 million financing agreement with ADB to expand financial access to affordable green housing for India’s economically disadvantaged and lower-income populations.

6 ) Ukraine President Volodymyr Zelensky Becomes Time Magazine’s 2022 Person of the Year

Time Magazine has named Ukrainian president Volodymyr Zelensky and “the spirit of Ukraine” as its 2022 Person of the Year, an award that recognises an event or person deemed as having the most influence on global events over the past 12 months. Other finalists for the award included protesters in Iran, China’s leader Xi Jinping Elon Musk (winner of 2021 Person of the year) and the United States (US) Supreme Court. Note – The Time Magazine’s Person of the Year began in 1927 as “Man of the Year”.

Key points:

• The ‘spirit of Ukraine’ referred to Ukrainians around the world along with those who fought behind the scenes, including people like Ievgen Klopotenko, a chef who provided thousands of free meals to Ukrainians and medic Yuliia Payevska, who was captured and then released after 3 months in Russian captivity.
• Volodymyr Zelensky had inspired Ukrainians and was recognised internationally for his courage in resisting the Russian invasion.
• British trauma surgeon David Nott, who went into Ukraine to help those who were injured in the war, is one of several others who feature on the magazine’s cover.

7 ) Peru’s VP Dina Boluarte sworn in as the 1st Female President of Peru

•Vice President of Peru, Dina Ercilia Boluarte Zegarra, was sworn in as the first Female President of Peru after Pedro Castillo, President of Peru, was ousted by Congress and arrested on a charge of rebellion.
Peru’s Congress removed President Pedro Castillo shortly after he attempted to dissolve the legislative body(Congress) and take unilateral control of the government, triggering a serious
constitutional crisis.
•The lawmakers of Peru voted 101-6 with 10 abstentions to remove Pedro Castillo from the office of President for reasons of “permanent moral infirmity”.He was removed from office due to “permanent moral infirmity” by a vote of 101-6 with 10 abstentions.
• The Presidential period of Pedro Castillo was from 28th July 2021 to 7th December 2022.

8 ) ISRO & Social Alpha Sign MoU to establish SpIN – SpaceTech Innovation Platform

Indian Space Research Organisation (ISRO) signed a Memorandum of Understanding (MoU) with the Social Alpha, a Non-profit Organization based in Bengaluru, Karnataka, to launch SpaceTech Innovation Network (SpIN), India’s first dedicated platform for innovation curation and venture development for the flourishing space entrepreneurial ecosystem.

Key points:

• The government of Ladakh(Union Territory) and the Indian Institute of Remote Sensing (IIRS), a unit of the Indian Space Research Organisation (ISRO), has partnered to develop a “Spatial Data Infrastructure geoportal – Geo-Ladakh” for Ladakh.
• Ladakh government and IIRS-ISRO signed a Memorandum of Understanding for the above development on 1st January 2022.

9 ) HarperCollins to release autobiography of Pakistani Cricketer Wasim Akram: “Sultan: a memoir”

HarperCollins Publishers India Pvt. Ltd. has announced to release of the autobiography of Pakistani Cricketer Wasim Akram titled “Sultan: A Memoir“. the book was written by Wasim Akram along with veteran cricket writer from Australia, Gideon Haigh.

Key points:

•The book was published by Hardie Grant Books, an imprint of Hardie Grant Publishing, one of Australia’s largest privately owned media companies.
•The book is set to be translated into many languages including Urdu.
•‘Sultan’ tells the story of Wasim Akram, the ‘sultan of swing’, one of the greatest fast bowlers in the history of cricket.
• The book was about the cricketer who was groomed by Imran Khan to become world champion and Man of the Match in Pakistan’s World Cup victory in 1992.

10 ) Assam Cabinet Approves Bill to Create Safai Karamchari Commission

Assam Cabinet led by Chief Minister (CM) Himanta Biswa Sarma approved a bill to establish a Safai Karamchari Commission for the first time in the state’s history, at a meeting held at the historic Gandhi Mandap in Guwahati, Assam.

Key points:

•The Dergaon Police Academy was renamed as the ‘Lachit Barphukan Police Academy’ by the Assam Cabinet.
•The Assam Cabinet has resolved to transfer Rs. 700 to the bank accounts of all pregnant women in the state, benefiting about 5 lakh pregnant women.
•The Nalbari Science Centre and Planetarium, Assam’s first 3D and fourth planetarium, was formally inaugurated by Himanta Biswa Sarma, CM of Assam. It was constructed in Milanpur, Nalbari, at an estimated cost of Rs. 8 crores and 50 lakhs.

11 ) Kerala to become 100% renewable energy-based State by 2040

Chief Minister(CM) of Kerala, Pinarayi Vijayan, inaugurated the India Climate and Development Partners’ Meet hosted by the Kerala Governemnt and the World Bank and stated that the State aspires to become 100% renewable Energy based state by 2040 and and net carbon neutral by 2050.

Key points:

• During the event, Government of Kerala has also signed agreement with the Agence Française de Développement (AFD – French Development Agency) for a performance based loan of 100 million Euros(Rs 865.8 crore) agreement.
• The agreement was signed by Bishwanath Sinha, Chief Executive Officer (CEO) of Rebuild Kerala Initiative (RKI) and Bruno Bosle, AFD Country Director.
• This aims to enhance the Kerala’s resilience against impacts of climate change.
• Kerala is the 1st State in India to include hydrogen-powered mobility in its zero emissions mobility policy.
• The government of Kerala constituted the Kerala Hydrogen Economy Mission to contribute strategic inputs and facilitate partnerships and collaborations towards transforming the State into a green hydrogen hub.
• The green hydrogen production is expected to be instrumental in Kerla’s efforts to achieve carbon
neutrality by 2050.
• Kerala is set to come up with new ESG (Environmental, social, and governance)-focused industrial policy which would incentives to promote responsible industrial production.

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