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Daily Current Affairs 8th January 2023: Your guide for daily General Knowledge Preparation

Dear Readers,

This post contains important current affairs of 8th January 2023. It includes all Major National, International, Business and Sports related current affairs of 8th January 2023. A brief explanation of every current affair is provided to further enhance your general knowledge. Once you have gone through these current affairs we would recommend to you to try 8th January 2023 Current affairs test.

National News

1. India to Host the International Summit for the Voice of the Global South

  • India is set to host a unique digital summit on the 12th and 13th of January 2023. The summit aims to find common ground and speak with one collective voice.
  • The endeavor is to provide a platform for discussion on issues that affect developing nations. Over 120 countries have been invited to participate.
  • This initiative is inspired by Prime Minister Narendra Modi’s vision of Sabka Saath, Sabka Vikas, Sabka Vishwas, and Sabka Prayas, alongside India’s belief in Vasudhaiva Kutumbakam.
  • India is keen to ensure that the contributions made by nations in the Voice of the Global South discussions gain deserved global attention.

Banking and Financial

2. RBI’s Announcement on the Issuance of Sovereign Green Bonds

  • The Reserve Bank of India (RBI) has announced its plans to issue two separate tranches of Sovereign Green bonds on January 25 and February 9.
  • RBI will release two bonds, maturing in five and ten years, respectively. Each bond will be valued at Rs 4,000 crore. The proceeds will be allocated to public sector initiatives aimed at reducing the carbon intensity of the economy.
  • Uniform Price Auctions will oversee the issuance of these green bonds. Retail investors will have a 5% repurchase deal (Repo) quota from the total notified volume.
  • These bonds will be considered valid investments under the Statutory Liquidity Ratio (SLR).
  • As part of its planned borrowing of Rs 5.92 lakh crore for the second half of the fiscal year, the government aims to raise Rs 16,000 crore via sovereign green bonds.

3. A Brief Look at the History of RBI

  • The Reserve Bank of India (RBI) was established on April 1, 1935, and was nationalized on January 1, 1949. It is headquartered in Mumbai, Maharashtra.
  • The inception of RBI was the result of the Hilton Young Commission. Sir Osborne Smith, an Australian, served as its inaugural governor, followed by the first Indian governor, CD Deshmukh.
  • Subsequent governors included Shaktikanta Das (25th governor), Mukesh Kumar Jain, Michael D. Patra, and M. Rajeshwar Rao.

4. NSO’s Prediction on India’s Economic Growth

  • The National Statistical Office (NSO) in its initial advance estimates for January 2023 projects the Indian economy to grow by 7.0% for the fiscal year 2023.
  • For the fiscal year 2022, the NSO predicted a 7% rise in India’s GDP.
  • The first half of 2022 (April-September) saw an economic growth of 7%, according to data released on November 30.
  • Various predictions on GDP growth for FY23 and FY24 have been made by institutions like RBI, World Bank, FITCH Rating, OECD, NSO, CRISIL, and others, with estimates ranging from 5.7% to 7.2%.

Books & Authors

5. New Book Release: “Chief Minister’s Diary No. 1” by Former CJI Ranjan Gogoi

  • Former Chief Justice of India and current member of the Rajya Sabha, Ranjan Gogoi, has penned a book titled “Chief Minister’s Diary No.1”.
  • The book chronicles the first year of Dr. Himanta Biswa Sarma as the Chief Minister of Assam. It provides an in-depth look into his daily duties and responsibilities.
  • It sheds light on the development initiatives taken in the state over eleven months.
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