Current Affairs for SSC CGL Exams - 07 January 2022

SSC CGL Current Affairs

Current Affairs for SSC CGL Exams - 07 January 2022


India, China fails to decide date for next round of military talks

  • India and China have been unable to agree on a date for the next round of military talks on disengagement and de-escalation in the Ladakh sector because of Beijing’s steadfast opposition to New Delhi’s proposal that all remaining friction points on the Line of Actual Control (LAC) be handled in one go.
  • Since the 13th round of talks between senior military commanders of the two sides was held at the Chushul-Moldo border meeting point on October 10 last year, the Indian side has sent several proposals for the next round of talks along with agenda items, people familiar with the matter said on condition of anonymity.
  • In these proposals, the Indian side maintained that all friction points between Depsang and Chumar should be collectively tackled in the talks between the military commanders so that there can be comprehensive disengagement and de-escalation in the Ladakh sector of the LAC, the people said.
  • “The Chinese are not agreeing to this. Their response to every proposal from the Indian side has been different. Their goalposts keep changing and we aren’t even sure which of their proposals should be taken seriously,” one of the people cited above said on condition of anonymity.
  • At the 13th round of talks between military commanders, the people said, the two sides were close to forward movement on disengagement at Hot Spring. However, the Chinese side was represented by the deputy to the corps commander, who stayed away, and he was not authorised to make a decision, the people added.
  • A statement issued by India after the last talks noted that “the Indian side...made constructive suggestions for resolving the remaining areas but the Chinese side was not agreeable and also could not provide any forward-looking proposals”.


US President Biden decries Trump backers' 'dagger at throat' of democracy

  • President Joe Biden on Thursday forcefully condemned Donald Trump's relentless election-overturning efforts that sparked the deadly breach of the Capitol by his supporters and continues to motivate deep national division. He marked the anniversary by saying the rioters had held a “dagger at the throat of democracy” but failed to succeed.
  • Biden’s criticism was blistering of the defeated president whom he blamed for the attack that has fundamentally changed Congress and the nation, and raised global concerns about the future of American democracy.
  • “For the first time in our history, a president not just lost an election, he tried to prevent the peaceful transfer of power as a violent mob breached the Capitol,” Biden said. “You can’t love your country only when you win."
  • His voice booming at times, filling the ornate Statuary Hall where rioters had laid siege, the president called on Americans to remember what they saw Jan. 6 with their own eyes: the mob attacking police, breaking windows, a Confederate flag inside the Capitol, gallows erected outside threatening to hang the vice president — all while Trump sat at the White House watching it on TV.
  • The president's remarks launched the start of daylong remembrance, drawing a contrast between the truth of what happened and the false narratives that persist about the Capitol assault, including the continued refusal by many Republicans to affirm that Biden won the 2020 election.
  • “We must be absolutely clear about what is true and what is a lie,” he said. "The former president of the United States of America has spread a web of lies about the 2020 election."


States paying through the nose for debt as cost soars past 7.16%

  • The cost of debt-funds for the states has touched the highest level so far this fiscal with the weighted average cut-off crossing the 7.16 percentage points at the latest auctions, up 11 bps over the past week, reflecting the hardening yields even for the government securities.
  • The hardening of the rates at the first auction of the quarter comes in the wake of the expected large supply of debt from the states, as indicated for Q4 at ₹3.2 lakh crore, up by ₹10,000 crore.
  • Nine states on Tuesday raised ₹18,900 crore at the latest auction of state development loans. The auction was just 2 per cent lower than the indicated amount for this week, which is among the highest drawdowns so far this fiscal year, AditiNayar, the chief economist at the rating agency Icra said in a note.
  • Even though the weighted average tenor remained unchanged at 12 years in line with the last auction, the weighted average cut-off rose sharply by 11 bps to 7.16 per cent from 7.05 per cent, reflecting a large supply for the quarter.
  • Meanwhile, the benchmark 10-year G-secs (G-sec; 6:10 GS 2031) yield rose by 4 bps to 6.52 per cent from the last auction. Accordingly, the spread between the 10-year weighted average SDL and 10-year G-sec yield widened to 61 bps from 55 bps, she added.
  • Gross SDL issuance is pegged at ₹7.9 lakh crore in FY22, just 1 per cent lower than the FY21, while the net issuance is estimated at ₹5.8 lakh crore for FY22, which is 11 per cent lower than the last year, adjusting for the expected redemptions of ₹2.1 lakh crore in the current fiscal. The net SDL issuance is projected at ₹5.8 lakh crore in FY22, a decline of 10.9 per cent from ₹6.5 lakh crore in FY21, Nayar said.


Where does India stand in WTC points table after loss to South Africa in 2nd Test?

  • South Africa produced a stellar performance in the Johannesburg Test against India to clinch a seven-wicket victory. Captain Dean Elgar led from the front as he remained unbeaten on 96 in the 240-run chase, as the South Africa batters displayed enormous grit on a tricky Wanderers surface.
  • After their victory, South Africa has made a huge leap in the World Test Championship points table. The side was reeling at 8th position after the loss to India in Centurion, but has now reached within touching distance of the visitors.
  • With 50 percentage points, the Proteasestands fifth on the table. India, however, endured a loss of 9.07 PCT but retained their fourth place in the tally.

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