Daily Current Affairs 25 August 2022 for Banking/Insurance/SSC and other related exams.
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NATIONAL NEWS
India to have 1.8 lakh km highways and 1.2 lakh km rail lines by 2025
A new report from Bank of America Securities India reveals that India is on its journey to surpass all the records of developing rail lines and highways. The report claims that by the end of the decade in the year 2025, the county will have constructed more highways and rail lines than it has cumulatively built between 1950 and 2015. Resultantly, it is being calculated that India will have over 1.2 lakh km of railway lines and 1.8 lakh km of highways by 2025.
IIT Guwahati researchers develops faster, more efficient method to make sugar substitute xylitol
The Indian Institute of Technology-Guwahati (IIT-G) has found a faster, more efficient way to produce the sugar substitute xylitol, which could spell good news for diabetic people looking for safer, inexpensive substitutes for sugar.
Night Safari to come up in Lucknow
Uttar Pradesh Government has approved first night safari in the nation in UP’s capital Lucknow. According to Tourism and Culture Minister Jaiveer Singh, this night safari in Lucknow would be established on over 350 acres in the Kukrail forest area sprawled across an area of 2027.46 hectares and a zoological park will be built on 150 acres, following the model of Singapore’s first-ever night safari.
INTERNATIONAL NEWS
Germany launches World’s First Fleet of Hydrogen Powered Passenger Trains
Almost four years after the start of trial operations, the world’s first passenger train network powered by hydrogen was launched in the German federal state of Lower Saxony.
- The 14 trains with hydrogen fuel cell drive produced by French manufacturer Alstom are to replace diesel trains.
BANKING & FINANCE
India likely to get its first digital rupee by end of this year
The Reserve Bank of India (RBI) will very likely introduce its digital rupee — the Central Bank Digital Currency (CBDC) — in this fiscal year itself.
- Talks of a digital rupee in the country have been swirling since Finance Minister Nirmala Sitharaman announced it during her Budget 2022 speech back in February. At the time, she had said that the digital rupee would be launched in 2022-2023.
- The RBI explains CBDC as legal tender issued by a central bank in a digital form. “It is the same as a fiat currency and is exchangeable one-to-one with the fiat currency. Only its form is different”.
- Explaining the difference between a digital rupee and using a mobile wallet, a government source was quoted as saying, “In the case of a digital rupee instead of holding a note you will be holding a digital currency in your phone and it would be with the central bank and from there it would be transferred to any merchant. It is fully backed by the sovereign.
BUSINESS & ECONOMY
Indian economy likely to grow 12-13% in Q1: ICRA
Citing the second highest business activity index reading in 13 months in April, rating agency Icra forecasted the economy to grow 12-13 per cent in the first quarter of the current fiscal. However, Icra has maintained its annual GDP projection at 7.2 per cent for this fiscal citing worries over inflation and the resultant RBI tightening.
APPOINTMENTS
Mali: Colonel Abdoulaye Maiga appointed interim Prime Minister
The head of the junta in Mali, Colonel Assimi Goita has appointed another colonel, Minister Abdoulaye Maiga, as interim Prime Minister to replace civilian Choguel Kokalla Maïga, who was hospitalised a few days ago.
AWARDS
Bangladesh-born Fahmida Azim wins 2022 Pulitzer prize in Illustrated Reporting, Commentary category
Bangladesh-born Fahmida Azim working for the Insider online magazine of United States has been selected for the 2022 Pulitzer prize under the category of Illustrated Reporting and Commentary. She is among the four journalists including Anthony Del Col, Josh Adams and Walt Hickey of Insider being published from New York, selected for their work on the Chinese oppression of the Uyghurs. The work ‘I escaped a Chinese internment Camp’ has illustrations by Fahmida Azim.
Liberty Medal to be awarded to Ukrainian President Zelensky
The 2022 Liberty Medal will be awarded this fall to Ukrainian President Volodymyr Zelenskyy. The National Constitution Center announced Monday that Zelenskyy will be honored in a ceremony in October for what it called “his heroic defense of liberty in the face of Russian tyranny.”
Angela Merkel wins Unesco Peace Prize for ‘efforts to welcome refugees’
Former German chancellor Angela Merkel has been awarded the 2022 Unesco Peace Prize for “her efforts to welcome refugees”.
- “All the members of the jury were touched by her courageous decision in 2015 to welcome more than 1.2 million refugees, notably from Syria, Iraq, Afghanistan and Eritrea. This is the legacy she leaves,” jury president and 2018 Nobel Peace Prize winner Denis Mukwege said.
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