Daily Current Affairs January 23 & 24 2022 | Latest News | Download PDF

This post is also available in: हिन्दी (Hindi)

Dear Readers, get to know the daily current affairs today covering all the National & International Events provided here in this article. Current Affairs is an important topic in various competitive exams like IBPS/SBI/PO/Clerk and other competitive exams. To score better in this section, be updated with the daily happenings. Check the Daily Current Affairs january 2022 updates here. Revision is very important in remembering current affairs. Candidates after learning the Daily current affairs January 23 & 24 2022, can test their knowledge by attempting Current Affairs Quiz provided with answers. Daily current affairs January 23 & 24 2022 covers current affairs from International & National news, Important Days, State News, Banking & Economy, Business News, Appointments & Resignation, Awards & Honour, Books & Authors, Sports News, etc.,

Candidates can also download the Daily current affairs January 23 & 24 2022 in PDF format. The Current Affairs section plays a major role in determining your success in the examination. This section needs knowledge of the questions asked. So, Practice Daily current affairs today provided here on a daily basis. In the general awareness section, current affairs and static GK questions will be asked. Check out the daily current affairs january 2022 provided here with answers and explanations. Candidates should analyse the explanations provided along with answers. It helps them remember the news easily. Read the Daily current affairs January 23 & 24 2022 provided here topic-wise covering all the important news updates. Here we have analysed and classified the topics in Daily current affairs.

Comprehensive topics for Daily current affairs today are provided here. Candidates should make sure to learn all the topics provided here in Daily current affairs today consistently. Check your knowledge by attempting the daily and monthly current affairs quizzes. The key to remembering things easily is revising it regularly. We provide daily current affairs january 2022 covering all the days in this month. Learn the Daily current affairs January 23 & 24 2022 provided here. Candidates can also download the PDF and revise it frequently. Attempt and analyse the mocks regularly to score better in this section. We provide static GK pdfs on a monthly basis covering all the important static takeaways of that month. Cover the entire daily current affairs january 2022 and attempt monthly quizzes. We provide Daily current affairs January 23 & 24 2022 in English and Hindi. Candidates can prepare Daily current affairs January 23 & 24 2022 covering all the important topics. Ace the GA section, by revising Daily current affairs today adequately.

Daily Current Affairs PDF of  23rd & 24th January 2022

Get More: Static GK Pdfs

CURRENT AFFAIRS: NATIONAL NEWS

Netaji Subhas Chandra Bose’s grand statue to be installed at India Gate:

• The Prime Minister, Shri Narendra Modi has announced that a grand statue of Netaji Subhas Chandra Bose will be installed at India Gate.
• Till the grand statue of Netaji Subhas Chandra Bose is completed, the Prime Minister will unveil his Hologram statue on his birth anniversary on 23rd January, 2022.
• At a time when the entire nation is marking the 125th birth anniversary of Netaji Subhas Chandra Bose, his grand statue, made of granite, will be installed at India Gate.
• This would be a symbol of India’s indebtedness to him.
• Till the grand statue of Netaji Bose is completed, a hologram statue of his would be present at the same place.

NITI Aayog, Rocky Mountain Institute (RMI) and RMI India release ‘Banking on Electric Vehicles in India:

• NITI Aayog, Rocky Mountain Institute (RMI), and RMI India today released a report, titled ‘Banking on Electric Vehicles in India’, which outlines the importance of priority-sector recognition for retail lending in the electric mobility ecosystem.
• The report provides considerations and recommendations to inform the inclusion of EVs in the Reserve Bank of India’s (RBI’s) priority-sector lending (PSL) guidelines.
• Banks and non-banking financial companies (NBFCs) in India have the potential to achieve an electric vehicle (EV) financing market size of Rs 40,000 crore (USD 5 billion) by 2025 and Rs 3.7 lakh crore (USD 50 billion) by 2030.
• Financial institutions have an important role to play in accelerating the adoption of EVs in India and supporting the decarbonization of road transport.
• RBI’s PSL mandate has a proven track record of improving the supply of formal credit towards areas of national priority.
• It can provide a strong regulatory incentive for banks and NBFCs to scale their financing to EVs.

Click here to read more;

CURRENT AFFAIRS: INTERNATIONAL NEWS

Bangladesh to make Unique Business ID mandatory for e-commerce entities:

• The Bangladesh government will make the Unique Business ID (UBID) mandatory for all e-commerce entities in the country.
• State Minister for Information Technology Zunaid Ahmed Palak has said that all digital commerce operators in the country will be required to register with the government using the UBID.
• The business entities which operate through social media platforms like Facebook will also come under the purview of monitoring through UBID.
• The government is also working to develop a Central Complaint Management System (CCMS) and a Digital Interoperable Transaction platform named ‘Binimoy’ to ensure regulatory oversight and transparency in the e-commerce arena.
• The use of these mechanisms to regulate the e-commerce sector will restore public confidence in the digital business.

Indonesia replaces sinking Jakarta with new capital city Nusantara:

• Nusantara has been chosen keeping in mind the future of Indonesia, The initial relocation will start from between 2022 and 2024.
• In the next decade, the government centre will be relocated and by 2045, the vision of ‘World City for All”
• The Indonesian Parliament has passed a law to relocate the country’s capital from Jakarta to Nusantara.
• This is the most significant advancement of an idea the country’s leaders have been toying with for years.
• The new state capital law, which provides a legal framework for President Joko Widodo’s ambitious $32 billion mega project, also stipulates how development of the capital will be funded and governed.
• The new capital has a central function and is a symbol of the identity of the nation, as well as a new centre of economic gravity,” Planning Minister Suharso Monoarfa told parliament after the bill was passed into law

CURRENT AFFAIRS: BUSSINESS NEWS

Microsoft to buy gaming giant Activision Blizzard for $69 bn:

• Microsoft has announced a landmark $69 billion deal to buy US gaming giant Activision Blizzard, betting big on the prospects of the video game market by scooping up the scandal-hit “Call of Duty” maker.
• Acquiring the troubled but highly successful Activision will make Microsoft the third-largest gaming company by revenue, behind Tencent and Sony, Microsoft, a major shift in the booming gaming world.
• If the deal is confirmed, it will be the largest acquisition in the industry, far ahead of Take-Two’s $12.7 billion purchase of Zynga has announced.

CURRENT AFFAIRS: BANKING AND ECONOMY

RBI: Digital payments up 39.6% in Sept 2021:

• The RBI’s Digital Payment Index, which shows the deepening of payments through digital modes in India, rose by 39.64 per cent to 304.06 in September 2021 against 217.74 in the year-ago month.
• Constructed with March 2018 as the base period — DPI score for March 2018 is set at 100 — the RBI-DPI was 173.49 in September 2019.
• Digital payments increased after Covid hit the nation in March 2020 and the government and the Reserve Bank of India (RBI) announced several measures to boost digital payments.
• The RBI-DPI comprises five broad parameters that enable measurement of deepening and penetration of digital payments in the country over different time periods, payment enablers, payment infrastructure—demand-side factors (10 per cent), payment infrastructure—supply-side factors (15 per cent), payment performance (45 per cent) and consumer centricity (5 per cent).
• These parameters have sub-parameters which, in turn, consist of various measurable indicators.

Click here to read more;

CURRENT AFFAIRS: AWARDS AND HONOUR

Oxford University Press declares ‘Anxiety’ as Children’s Word of the Year 2021:

• The Oxford University Press has declared ‘Anxiety’ as Children’s Word of the Year 2021.
• Eight thousand children in the UK were surveyed and asked to choose the words they would use when talking about health and wellbeing.
• Previous Oxford University Press’ Children’s Word of the Year include coronavirus (2020), Brexit (2019), plastic (2018), Trump (2017), and refugee (2016).
• Over 8,000 children from across 85 schools in the UK, spanning Year 3 to Year 9, were surveyed and asked to choose the top words they would use when talking about health and wellbeing.

Pfizer CEO Albert Bourla wins $1 million Genesis Prize for COVID-19 vaccine development:

• The global pharmaceutical giant Pfizer Inc.’s Chairman and Chief Executive, Albert Bourla, has been awarded with the prestigious Genesis Prize 2022.
• The $1 million award is granted each year to a person for their professional achievements, contributions to humanity and commitment to Jewish values.
• Bourla had received the largest number of votes in an online campaign in which some 200,000 people in 71 countries participated.

Oscar 2022: Suriya’s Tamil socio-drama ‘Jai Bhim’ nominated for Best Featured Film:

• The Academy of Motion Picture Arts and Sciences revealed the list of 276 films that is eligible for consideration at the 94th Oscars.
• Among these films, Suriya’s hard-hitting Tamil socio-drama Jai Bhim is India’s entry into The Academy.
• ‘Jai Bhim’ which has gained a nomination for best feature film, is in competition with other acclaimed flicks like ‘Jockey,’ ‘Cruella,’ ‘Dune, ‘Eternals,’ ‘Godzilla VS Kong,’ ‘King Richard,’ among other movies.
• The courtroom drama directed by TCJ Gnanavel is inspired by a real-life incident from the 1990s in Tamil Nadu.
• Jai Bhim is the fourth Indian film to get nominated for Oscars after Mother India, Salaam Bombay, and Lagaan.
• Malayalam superstar Mohanlal’s latest period drama Marakkar Arabikadalinte Simham has also officially made it to the Oscars 2021 list.
• The film has been nominated for the Global Community Oscar Awards 2021.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Barbados PM Mia Mottley sworn in after 2nd consecutive elections                                

• Barbados Prime Minister Mia Amor Mottley was sworn in for a second term.
• The victory gives Mottley, the nation’s first female leader, a second five-year term as prime minister.
• A majority of 16 seats was required for a win, and Mottley achieved the same sweep when her party won elections in 2018.

About Mia Amor Mottley :

• Mia Amor Mottley, has served as Prime Minister of Barbados since 2018 and as leader of the Barbados Labour Party (BLP) since 2008.
• Mottley is the eighth person to hold the office of Prime Minister in Barbados and the first woman to hold either position.
• She is Barbados’ first prime minister under a republic system.
• She is also a member of the Inter-American Dialogue.
• Between 1991 and 1994 she was one of two Opposition Senators in the Upper House, Senate of Barbados.
• In the 1994 Barbadian general election, Mottley was appointed as the Minister of Education, Youth Affairs and Culture in September 1994.
• Mottley’s Barbados Labor Party seemed to have secured all 30 seats in the House of Assembly, the lower house of the island’s Parliament.
• Mottley was twice the Leader of the Opposition in the House of Assembly of Barbados first from 2008 to 2010 then from 2013 to 2018.

About Barbados :

• Capital: Bridgetown
• Prime minister: Mia Mottley
• Currency: Barbados Dollar
• Continent: North America

RBI approves former CAG Vinod Rai’s appointment as independent chairman of Unity SFB

• The Reserve Bank of India (RBI) approved the appointment of former comptroller and auditor general (CAG) of India Vinod Rai as independent chairman of Unity Small Finance Bank (Unity SFB).
• Several banking industry stalwarts, including RBI veteran Sandip Ghose, former Syndicate Bank CMD Basant Seth and ex-RBL Bank chairman Subhash Kutte have recently joined the bank’s board.

About Vinod Rai :

• Vinod Rai born on 23 May,1948 in parsa, United Provinces, India.
• He is a former IAS officer who served as the 11th Comptroller and Auditor General of India.
• He has also served in the ministries of finance, commerce and defence.
• Rai has also served as Chairman of the Banks Board Bureau, the body which advises the Centre on top-level appointments at public sector banks and ways to address bad loans.
• He was also associated with IDFC Limited, the holding company of IDFC First Bank & Rai was the independent director at IDFC for two terms.
• On 30 January 2017, the Supreme Court of India appointed Rai as the interim president of the Board of Control for Cricket in India (BCCI).
• He is the head of the advisory commission of Kerala Infrastructure and Investment Board (KIIFB), appointed by Government of Kerala.
• He is the current chairman of the UN Panel of External Auditors and Honorary Advisor to the Railways and a member of the Railway Kaya Kalp Council.

About RBI :

• Founded: 1 April 1935, Kolkata
• Governor: Shaktikanta Das
• Headquarters: Mumbai, Maharashtra
• Founder: British Raj
• Repo Rate : 4.00%
• Reverse repo rate : 3.35%
• Bank rate : 4.25%
• Cash reserve ratio (CRR) : 4.0%
• Statutory liquidity ratio (SLR) : 18.00%

About Unity SFB :

• Headquarters : Mumbai, Maharashtra
• Unity SFB is the 12th small finance bank and opened its first branch in Mumbai on 1 November 2021 with over ₹1,100 crore of equity capital, over 200,000 customers and an asset base of over ₹2,400 crore which comes from the existing MSME and MFI credit business of the Centrum Group.
• It is a 51:49 joint venture between Centrum Group and payments company Bharatpe.
• Unity SFB’s proposed merger with debt-ridden Punjab and Maharashtra Cooperative Bank (PMC) is under review.
• Punjab & Maharashtra Cooperative (PMC) Bank was hit by a ₹7,000 crore loan scam and has been under the RBI administrator since September 2019.

About SFB :

• Small finance banks are a type of niche banks in India.

Aim :

• To provide financial inclusion to sections of the economy not being served by other banks, such as small business units, small and marginal farmers, micro and small industries and unorganized sector entities.
• It was established as public limited companies in the private sector under the Companies Act, 2013.
• It was governed by the provisions of Reserve Bank of India Act, 1934, Banking Regulation Act, 1949.
• The firms must have a capital of at least ₹200 crore (US$14 million).
• The promoters should have 10 years’ experience in banking and finance.

CURRENT AFFAIRS : APPS & SERVICES

Himachal Pradesh CM Jai Ram Thakur launches Apna Kangra App from Dharamsala

• Himachal Pradesh Chief Minister Jai Ram Thakur launched ‘Apna Kangra’ app and hampers handcrafted by self help groups at Dharamsala, HP.

Purpose :

• In view of providing a hassle-free experience for tourists and simultaneously boosting sales of local handicrafts.

About the ‘Apna Kangra’ app :

• Apna Kangra was to empower rural women and provide job opportunities to youth through tourism, while facilitating hospitality services such as hotels, homestays and transport to travelers.
• It will provide a unique experience for tourists on the one hand, on the other it will serve as an e-marketing platform for SHG products from the Kangra.
• Thakur also announced that the medical reimbursement facility will be extended to all retired employees of the Himachal Pradesh State Education Board as availed by the other retired government employees in the state.
• The initiative will cost the exchequer Rs 1.61 crore annually and will benefit over 750 retired employees.
• The previous government had stopped this facility to the Board pensioners since April 2014.
• The chief minister also virtually inaugurated Radhe Krishna Cow Sanctuary at Luthan in Jawalamukhi Vidhan Sabha area of Kangra.
• The sanctuary is constructed at a cost of Rs 3.96 crore and can accommodate 1,000 cattle.
• To effectively manage and operate these facilities, the government will levy a cess of Rs. 1 per bottle of liquor.
• Recently a cow sanctuary at Sunni in Shimla with a capacity to house 500 cows.
• He also stated the state government has been providing Rs 500 per cow to ‘Gau Sadans’ to arrange adequate food.
• According to Thakur, there are about 19,000 cows and other cattle in various cow sanctuaries across the state.
• The state government has also initiated schemes such as ‘Mukhya Mantri HIMCARE’ to ensure that no one was deprived of quality medical services for want of funds.

About Himachal Pradesh :

• Chief minister: Jai Ram Thakur
• Governor : Rajendra Arlekar
• Capitals : Shimla (Summer), Dharamshala (Winter)
• National Parks : Great Himalayan National Park, Pin Valley National Park, Inderkilla National Park, Khirganga National Park, Simbalbara National Park
• Wildlife Sanctuaries : Bandli Sanctuary, Daranghati Wildlife Sanctuary, Kalatop Wildlife Sanctuary, Kanwar Wildlife Sanctuary, Khokhan Wildlife Sanctuary, Chail Wildlife Sanctuary, Churdhar Wildlife Sanctuary, Dhauladhar Wildlife Sanctuary, Shimla Water Catchment Wildlife Sanctuary, Manali Wildlife Sanctuary, Kais Wildlife Sanctuary, Kugti Wildlife Sanctuary

CURRENT AFFAIRS : SUMMITS & CONFERENCES

First BRICS Sherpas meeting of 2022 held on 18-19 Jan under Chinese chairship                             

• The first BRICS Sherpas meeting of 2022 was held on January 18 and 19, 2022 through a virtual platform under the chairmanship of China.
• India’s BRICS Sherpa of 2022 Sanjay Bhattacharyya represented the Indian delegation.
• China’s BRICS Sherpa and Vice Foreign Minister Ma Zhaoxu hosted the 2022 the First BRICS Sherpas’ Meeting to discuss programmes and priorities for the year.
• BRICS is a grouping of five major emerging economies : Brazil, Russia, India, China, and South Africa.

CURRENT AFFAIRS : RANKING & INDEX

PM Modi tops list of most popular world leaders with 71 percent rating

• Prime Minister Narendra Modi has topped the list of most popular world leaders according to the global rating survey released by the Morning Consult Political Intelligence.
• The survey showed PM Modi occupying the pole position with an approval rating of 71 percent.
• Mexico President Andrés Manuel López Obrador came second with 66 percent approval rating while Italian Prime Minister Mario Draghi held the third position with 60 percent
• On the list of the 13 world leaders, US president Joe Biden is ranked at number six with a 43 per cent rating. Biden is followed by Canadian President Justin Trudeau also at 43 per cent and Australian Prime Minister Scott Morrison at 41 per cent.
• According to Morning Consult Political Intelligence, the latest approval ratings released by the website are based on the data collected from January 13-19, 2022.
• The approval ratings of the world leaders are based on a seven-day moving average of the adult residents in each country, with the sample sizes varying by the country.

Most popular leader in the world 2022:

Country	Leaders
India	Narendra Modi – 71%
Mexico	López Obrador – 66%
Italy	Mario Draghi- 60%
Japan	Fumio Kishida – 48%
Germany	Olaf Scholz – 44%
United States	Joe Biden – 43%
Canada	Justin Trudeau – 43%
Australia	Scott Morrison – 41%
Spain	Pedro Sánchez – 40%
South Korea	Moon Jae-in – 38%
Brazil	Jair Bolsonaro – 37%
France	Emmanuel Macron – 34%
UK	Boris Johnson – 26%

Note :

• In 2021, Prime Minister Modi had topped the list of the most popular world leaders.
• In May 2020, the website had given the highest rating to PM Modi with an approval of 84%, however, in May 2021, his rating had dipped to 63%.

CURRENT AFFAIRS : SPORTS NEWS

ICC Test Team of the Year 2021: Rohit Sharma, Rishabh Pant, R Ashwin named

• India opener Rohit Sharma, wicket-keeper Rishabh Pant and off-spinner Ravichandran Ashwin have been included in the ICC Men’s Test team of the year for 2021.
• New Zealand skipper Kane Williamson has been named as the captain of the ICC Test Team of the year 2021.
• It is Ashwin’s fifth appearance and Pant’s second time in the Test team of the year honors while it is the first time Sharma is in the coveted eleven of Test cricket.

ICC Men’s Test Team of the Year 2021 :

1. Dimuth Karunaratne (Sri Lanka)
2. Rohit Sharma (India)
3. Marnus Labuschagne (Australia)
4. Joe Root (England)
5. Kane Williamson (captain) (New Zealand)
6. Fawad Alam (Pakistan)
7. Rishabh Pant (wicketkeeper) (India)
8. Ravichandran Ashwin (India)
9. Kyle Jamieson (New Zealand)
10. Hasan Ali (Pakistan)
11. Shaheen Afridi (Pakistan)

About ICC :

• Chairman: Greg Barclay
• CEO: Geoff Allardice
• Headquarters: Dubai, United Arab Emirates
• Founded: 15 June 1909

Pakistan’s Babar Azam Named Captain of ICC Men’s ODI Team of Year 2021        

• Pakistan captain Babar Azam has been named as the captain of the ICC Men’s ODI Team of the Year for 2021.
• He was also named as the captain of the ICC T20I Team of the Year.
• The ICC Team of the Year recognises 11 best players in men’s cricket who have impressed one and all with their performances in a calendar year, either with the bat, ball or their all-round performance.
• No Indian male player has found a place in the team of 11.
• Meanwhile in ICC Women’s T20I Team of the Year for 2021, Smriti Mandhana is the only Indian women player named in the 11 member team.
• Smriti has made it to the list for third time in the T20I team of the year after 2018 (opener) and 2019 (number three).
• England’s Nat Sciver has been made the captain of ICC Women’s T20I Team of the Year for 2021.

 ICC Men’s T20I team of the year for 2021

1. Jos Buttler (England)
2. Mohammad Rizwan (wicketkeeper) (Pakistan)
3. Babar Azam (captain) (Pakistan)
4. Aiden Markram (South Africa)
5. Mitchell Marsh (Australia)
6. David Miller (South Africa)
7. Tabraiz Shamsi (South Africa)
8. Josh Hazlewood (Australia)
9. Wanindu Hasaranga (Sri Lanka)
10. Mustafizur Rahman (Bangladesh)
11. Shaheen Afridi (Pakistan)

ICC Women’s T20I Team of the Year for 2021 :

1. Smriti Mandhana (India)
2. Tammy Beaumont (England)
3. Danni Wyatt (England)
4. Gaby Lewis (Ireland)
5. Nat Sciver (captain) (England)
6. Amy Jones (wicketkeeper) (England)
7. Laura Wolvaardt (South Africa)
8. Marizanne Kapp (South Africa)
9. Sophie Ecclestone (England)
10. Loryn Phiri (Zimbabwe)
11. Shabnim Ismail (South Africa)

ICC Women’s ODI Team of the Year 2021 includes Mithali Raj, Jhulan Goswami

• Veteran India players Mithali Raj and Jhulan Goswami were named in the Women’s ODI Team of the Year for 2021 by the International Cricket Council.
• England’s Heather Knight has been named as the captain of the team.
• However, no Indian was named in the ICC Men’s ODI Team of the Year for 2021, which is led by Pakistan captain Babar Azam.
• Also, it was the first time since 2004 no Indian player made the Men’s ODI team of the year.
• As part of the ICC Women’s T20I Team of the Year for 2021, Smriti Mandhana was named the lone Indian.
• ICC Women’s ODI Team of 2021: Lizelle Lee (South Africa), Alyssa Healy (wk) (Australia), Tammy Beaumont (England), Mithali Raj (India), Heather Knight (c) (England), Marizanne Kapp (South Africa), Hayley Matthews (West Indies), Fatima Sana (Pakistan), Jhulan Goswami (India), Shabnim Ismail (South Africa), Anisa Mohammed (West Indies).

CURRENT AFFAIRS : OBITUARIES

World’s oldest living man, Saturnino de la Fuente, passes away

• Spaniard Saturnino de la Fuente García, the world’s oldest man, passed away at the age of 112 years and 341 days old.

About Saturnino de la Fuente :

• Saturnino de la Fuente was born on 11, 1909 in the Puente Castro neighborhood of León in Spain.
• Guinness World Records named De la Fuente García as the ​​​​​​​world’s oldest living man at precisely 112 years and 211 days in September 2021.
• Saturnino de la Fuente was a huge football fan and was one of the founders of CD Puente Castro football club.

Note :

• The oldest man in the world is now Venezuelan Juan Vicente Pérez Mora, who was born on 27 May 1909 and is currently 112 years old.
• The current oldest living person is Japanese woman Kane Tanaka, who was born on 2 January 1903 and is now 119 years old.
• She is followed by French woman Lucile Randon, who will be 118 on 11 February this year.

UNION GOVERNMENT SCHEME

Sovereign gold bond scheme

Launched on:

Sovereign Gold Bond Scheme was launched by Govt in November 2015, under Gold Monetisation Scheme. Under the scheme, the issues are made open for subscription in tranches by RBI in consultation with GOI.

SGBs are government securities denominated in grams of gold. They are substitutes for holding physical gold. Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity.

Regulated by :

To be issued by Reserve Bank India on behalf of the Government of India.

The Bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram.

Objectives:

The government launched the sovereign gold bond scheme in November 2015 with an objective to reduce the demand for physical gold and shift a part of the domestic savings, used for the purchase of gold, into financial savings.

Investors in these bonds have the option of holding them in physical or dematerialised form.

Eligibility :

Persons resident in India as defined under Foreign Exchange Management Act, 1999 are eligible to invest in SGB. Eligible investors include individuals, HUFs, trusts, universities and charitable institutions. Individual investors with subsequent change in residential status from resident to non-resident may continue to hold SGB till early redemption/maturity.

joint holding is allowed.

Minor can invest in SGB. The application on behalf of the minor has to be made by his/her guardian.

Every application must be accompanied by the ‘PAN Number’ issued by the Income Tax Department to the investor(s)

Advantages of the scheme:

Hassle free: Ownership of gold without any physical possession (No risks and no cost of storage)

Tax treatment: The capital gains tax arising on redemption of SGB to an individual has been exempted. The indexation benefits will be provided to long term capital gains arising to any person on transfer of bond.

Tradability: Bonds will be tradable on stock exchanges within a fortnight of the issuance on a date as notified by the RBI.

Transferability: Bonds shall be transferable by execution of an Instrument of transfer in accordance with the provisions of the Government Securities Act.

Benefits :

The quantity of gold for which the investor pays is protected, since he receives the ongoing market price at the time of redemption/ premature redemption.

The SGB offers a superior alternative to holding gold in physical form.

The risks and costs of storage are eliminated. Investors are assured of the market value of gold at the time of maturity and periodical interest.

SGB is free from issues like making charges and purity in the case of gold in jewellery form.

The bonds are held in the books of the RBI or in demat form eliminating risk of loss of scrip etc.

Challenges :

There may be a risk of capital loss if the market price of gold declines.

However, the investor does not lose in terms of the units of gold which he has paid for.

Minimum and maximum limit for investment:

The Bonds are issued in denominations of one gram of gold and in multiples thereof. Minimum investment in the Bond shall be one gram with a maximum limit of subscription of 4 kg for individuals, 4 kg for Hindu Undivided Family (HUF) and 20 kg for trusts and similar entities notified by the government from time to time per fiscal year (April – March). In case of joint holding, the limit applies to the first applicant.

The annual ceiling will include bonds subscribed under different tranches during initial issuance by Government and those purchased from the secondary market. The ceiling on investment will not include the holdings as collateral by banks and other Financial Institutions.

Authorized agencies selling the SGB:

Bonds are sold through offices or branches of Nationalised Banks, Scheduled Private Banks, Scheduled Foreign Banks, designated Post Offices, Stock Holding Corporation of India Ltd. (SHCIL) and the authorised stock exchanges either directly or through their agents.

Daily CA On Jan 23^rd & 24^th:

• The Prime Minister, Shri Narendra Modi has announced that a grand statue of Netaji Subhas Chandra Bose will be installed at India Gate.
• NITI Aayog, Rocky Mountain Institute (RMI), and RMI India today released a report, titled ‘Banking on Electric Vehicles in India’, which outlines the importance of priority-sector recognition for retail lending in the electric mobility ecosystem.
• The Bangladesh government will make the Unique Business ID (UBID) mandatory for all e-commerce entities in the country.
• Nusantara has been chosen keeping in mind the future of Indonesia, The initial relocation will start from between 2022 and 2024.
• Microsoft has announced a landmark $69 billion deal to buy US gaming giant Activision Blizzard, betting big on the prospects of the video game market by scooping up the scandal-hit “Call of Duty” maker.
• The RBI’s Digital Payment Index, which shows the deepening of payments through digital modes in India, rose by 39.64 per cent to 304.06 in September 2021 against 217.74 in the year-ago month.
• The Oxford University Press has declared ‘Anxiety’ as Children’s Word of the Year 2021.
• The global pharmaceutical giant Pfizer Inc.’s Chairman and Chief Executive, Albert Bourla, has been awarded with the prestigious Genesis Prize 2022.
• The Academy of Motion Picture Arts and Sciences revealed the list of 276 films that is eligible for consideration at the 94th Oscars.
• Barbados Prime Minister Mia Amor Mottley was sworn in for a second term & the victory gives Mottley, the nation’s first female leader, a second five-year term as prime minister.
• The Reserve Bank of India (RBI) approved the appointment of former comptroller and auditor general (CAG) of India Vinod Rai as independent chairman of Unity Small Finance Bank (Unity SFB).
• Himachal Pradesh Chief Minister Jai Ram Thakur launched ‘Apna Kangra’ app and hampers handcrafted by self help groups at Dharamsala, HP.
• The first BRICS Sherpas meeting of 2022 was held on January 18 and 19, 2022 through a virtual platform under the chairmanship of China.
• Prime Minister Narendra Modi has topped the list of most popular world leaders according to the global rating survey released by the Morning Consult Political Intelligence & the survey showed PM Modi occupying the pole position with an approval rating of 71 percent.
• India opener Rohit Sharma, wicket-keeper Rishabh Pant and off-spinner Ravichandran Ashwin have been included in the ICC Men’s Test team of the year for 2021.
• Pakistan captain Babar Azam has been named as the captain of the ICC Men’s ODI Team of the Year for 2021.
• Veteran India players Mithali Raj and Jhulan Goswami were named in the Women’s ODI Team of the Year for 2021 by the International Cricket Council.
• Spaniard Saturnino de la Fuente García, the world’s oldest man, passed away at the age of 112 years and 341 days old.