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Important Current Affairs for CLAT-19th October 2022

22nd World Blockchain Summit Begins in Dubai

World Blockchain Summit in Dubai is taking place on Oct. 17 and 18, 2022 at Atlantis, The Palm. It is one of the most elite gatherings of the global crypto and blockchain ecosystem. The 22nd global edition of the World Blockchain Summit will bring together some of the world’s leading crypto influencers, policymakers, key government delegates, media, family offices, HNIs and other curated investors, among others, to foster the crypto and blockchain community across the globe.

What Is Blockchain Technology:

Blockchain technology is a technology that leads to a chain of blocks, containing digital information stored in a public database. It is a distributed database existing on multiple computers at the same time, which constantly grows as new sets of recordings or blocks are added to it

How Does Blockchain Work:

  • Blockchain consists of three important concepts: blocks, nodes and miners.

What Are Blocks:

  • Every chain consists of multiple blocks and each block has three basic elements:

  • The data in the block. A 32-bit whole number called a nonce. The nonce is randomly generated when a block is created, which then generates a block header hash.

  • The hash is a 256-bit number wedded to the nonce. It must start with a huge number of zeroes (i.e., be extremely small).

  • When the first block of a chain is created, a nonce generates the cryptographic hash. The data in the block is considered signed and forever tied to the nonce and hash unless it is mined.

What Are Miners:

  • Miners create new blocks on the chain through a process called mining.

  • In a blockchain every block has its own unique nonce and hash, but also references the hash of the previous block in the chain, so mining a block isn’t easy, especially on large chains.

  • Miners use special software to solve the incredibly complex math problem of finding a nonce that generates an accepted hash. Because the nonce is only 32 bits and the hash is 256, there are roughly four billion possible nonce-hash combinations that must be mined before the right one is found. When that happens miners are said to have found the “golden nonce” and their block is added to the chain.

  • Making a change to any block earlier in the chain requires re-mining not just the block with the change, but all of the blocks that come after. This is why it’s extremely difficult to manipulate blockchain technology. Think of it as “safety in math” since finding golden nonces requires an enormous amount of time and computing power.

  • When a block is successfully mined, the change is accepted by all of the nodes on the network and the miner is rewarded financially.

What Are Nodes:

  • One of the most important concepts in blockchain technology is decentralization. No one computer or organization can own the chain. Instead, it is a distributed ledger via the nodes connected to the chain. Nodes can be any kind of electronic device that maintains copies of the blockchain and keeps the network functioning.

  • Every node has its own copy of the blockchain and the network must algorithmically approve any newly mined block for the chain to be updated, trusted and verified. Since blockchains are transparent, every action in the ledger can be easily checked and viewed. Each participant is given a unique alphanumeric identification number that shows their transactions.

BookMyShow and RBL Bank collaborate to offer the “Play” credit card

BookMyShow and RBL Bank collaborate: The launch of a new credit card called “Play” by RBL Bank and BookMyShow will significantly increase the entertainment value for Indian consumers. RBL Bank and BookMyShow collaborated to offer the Fun Plus credit card earlier in 2016. Customers will be able to follow the full procedure on BookMyShow, a first for any entertainment platform in India, from application to delivery of the “Play” credit card.

BookMyShow and RBL Bank collaborate: Key Points

  • Select BookMyShow customers will have access to the “Play” credit card, which will enable them to take advantage of lucrative offers on movie tickets, live entertainment purchases (both online and offline)

  • The customers will also have access to binge-watching movies and TV shows on BookMyShow Stream by renting or buying a title, all while earning rewards with each purchase.

  • While consumers of BookMyShow can acquire the “Play” credit card for an annual price of 500 rupees, BookMyShow Superstars will have free access to the exceptional offering.

  • Customers will be able to follow the entire process from application to delivery of the “Play” credit card on BookMyShow, which will be a first for any entertainment platform in India.

  • Real-time updates have been enabled on the portal.

“Play” credit card: Important Highlights

  • The introduction of the “Play” credit card in collaboration with BookMyShow supports RBL Bank’s efforts to maintain close ties to a sizable, youthful, digitally literate, spending consumer base.

  • It works across industries like media & entertainment, food & beverage, and consumer facing brands in line with the demographic of the BookMyShow audience.

With the “Play” credit card, RBL Bank will have access to the 200 million monthly visitors and 5 billion monthly page views that BookMyShow receives, enabling it to provide unrivalled experiences to the country of India’s entertainment-seeking population.

American historian Barbara Metcalf conferred Sir Syed Excellence Award for 2022

Noted American historian Prof. Barbara Metcalf was awarded the Sir Syed Excellence Award 2022 by the Aligarh Muslim University (AMU) on the 205 th birth anniversary of its founder Sir Syed Ahmad Khan. Prof. Metcalf has written extensively on the history of the Muslim population of India and Pakistan. “Muslims constituted a full quarter of the population at the time of Independence and an important share of the Indian citizenry in the Republic of India thereafter. Yet their histories are understudied and are essential to telling India’s history well.

About the Prof. Barbara Metcalf:

The Professor Emerita of History at the University of California, Davis, USA, remarked, “Sir Syed’s modernist interventions preceded those of the Egypt-based modernists who too often are taken as founders of these trends of thought.”

Prof. Metcalf, who has studied the role of ulama or Islamic scholars, underlined that Aligarh and Deoband schools had a great deal in common, something that is not appreciated. “My starting premise of when I worked on my dissertation ‘A Study of the Founding and Early Years of the Madrasa at Deoband’ was the fact that Aligarh and Deoband had a great deal in common – their leaders emerging from the same reformist intellectual milieu in Delhi, their sharing a concern for Muslim well-being, their embrace of institutional models for schooling taken from British patterns.”

Who was Sir Syed Ahmad Khan?

Sir Syed Ahmad Khan (17 October 1817 – 27 March 1898; also Sayyid Ahmad Khan) was a South Asian Muslim reformer, philosopher, and educationist in nineteenth-century British India. Initially espousing Hindu-Muslim unity, he became the pioneer of Muslim nationalism in India. Born into a family with strong debts to the Mughal court, Ahmad studied the Quran and Sciences within the court. He was awarded an honorary LLD from the University of Edinburgh in 1889.

India to host 90th General Assembly of INTERPOL

The 90th General Assembly of Interpol is going to be held in New Delhi from 18th October to 21st October 2022. The 90th General Assembly of Interpol will have the world’s largest police body with 195 members. The General Assembly is the International policing organization’s top governing body and meets once a year to take important decisions.

Key Points related to the 90th General Assembly of Interpol

  • The meeting will be attended by 2,000 overseas dignitaries, including Ministers, Police Chiefs, Police Officers, and support staff

  • The General Assembly is taking place in India after 25 years.

  • The last General Assembly held in India was in the year 1997.

  • This was initiated by the Union Home Minister Amit Shah to Interpol Secretary General Jurgen Stock.

  • The General Assembly is the supreme governing body of Interpol.

  • It is an organization that was founded in 1923 to bring international Corporations into law enforcement.

  • The organization has 90 million records spread across 17 databases.

Adani Airports appoints Ericsson veteran Arun Bansal as CEO

Adani Airport Holdings has again rejigged its top management, naming Ericsson veteran Arun Bansal its chief executive officer. Bansal, who spent 25 years at the Swedish telecom network company, was most recently its president for Europe and Latin America. The appointment will help strengthen digital transformation and the business growth agenda.

Notably: Adani’s airports account for 25% of airport footfalls and 40% of air cargo in India.

Bansal will probably be primarily based at Ahmedabad and can report back to long-time Adani Group veteran Malay Mahadevia, who’s director, operations, on the airports firm. Bansal is available in at a time when demand for air journey is rising and the enterprise is step by step shrugging off the woes of the pandemic. Chairman Gautam Adani needs to digitise his airport enterprise quick and make it a connector to his enterprise empire which spans energy, ports, inexperienced vitality, agri commodities, telecom and logistics.

Justice DY Chandrachud named as 50th Chief Justice of India

50th Chief Justice of India

President Droupadi Murmu has appointed Dr Justice DY Chandrachud as the new Chief Justice of India. He will succeed the present Chief Justice of India Justice Uday Umesh Lalit. Justice Chandrachud’s appointment will come into effect from the 9th of next month. Justice DY Chandrachud would be the 50th Chief Justice of India. While Justice Lalit has a tenure of 74 days, Justice Chandrachud will serve as the CJI for two years. Justice Chandrachud will demit office on November 10, 2024.

50th Chief Justice of India: Know About Justice D Y Chandrachud

  • Born in 1959, Dhananjaya Yeshwant Chandrachud earned his LLB from Delhi University. After earning the coveted Inlaks Scholarship, he went on to study at Harvard University. He earned his Masters in Law (LLM) and Doctorate in Juridical Sciences at Harvard (SJD).

  • His father Justice Yeshwant Vishnu Chandrachud was the 16th Chief Justice of India, serving from February 22, 1978, till July 11, 1985. He was appointed to the Supreme Court of India on August 28, 1972. He was the longest-serving Chief Justice in India’s history, having served for 7 years and 4 months.

  • Before becoming a judge of the Bombay High Court, Chandrachud worked as a lawyer in the Supreme Court and the High Courts of Gujarat, Calcutta, Allahabad, Madhya Pradesh, and Delhi. He testified before the Company Law Board, the Monopolies and Restricted Trade Practices Commission, the Foreign Exchange Regulation Act (FERA) Board, and several national and state commissions.

  • In 1998, the Bombay High Court appointed him as Senior Advocate.

  • From 1998 to 2000, he was India’s Additional Solicitor General. Justice Chandrachud’s most notable cases as an advocate have addressed constitutional and administrative law, the rights of HIV+ employees, religious and linguistic minority rights, and labour and industrial regulations.

  • He was appointed as an Additional Judge of the Bombay High Court on March 29, 2000. On October 31, 2013, he took his oath as Chief Justice of the Allahabad High Court.

  • On May 13, 2016, he was appointed as a Judge to the Supreme Court of India.

PM Kisan Samman Sammelan 2022 Launched by PM Modi

PM Kisan Samman Sammelan 2022 Launched: The PM Kisan Samman Sammelan 2022 will be launched by Prime Minister Narendra Modi at the Indian Agricultural Research Institute in New Delhi. More than 13,500 farmers from all around the country and about 1,500 agri entrepreneurs are expected to attend the two-day event.

PM Kisan Samman Sammelan 2022 Launched: Key Points

  • The Prime Minister will officially open 600 Pradan Mantri Kisan Samruddhi Kendras (PMKSK) under the ministry of chemicals and fertilisers.

  • PMKSK will provide agri-inputs like fertilisers, seeds, and implements; testing facilities for soil, seeds, and fertilisers; awareness-raising activities for farmers; details on various government programmes; and regular capacity building for retailers at block/district level outlets.

  • These activities will meet a wide range of farmer needs.

  • In the country, a progressive conversion of more than 3.3 lakh retail fertiliser stores into PM Kisan Samman Sammelan Kendras (PMKSK) is envisaged.

PM Kisan Samman Sammelan 2022: Other Inaugurations

  • During the occasion, the PM will also introduce the One Nation One Fertilizer initiative, Bhartiya Jan Urvarak Pariyojana.

  • In order to assist businesses in marketing fertilisers under the single brand name “Bharat,” he will introduce Bharat Urea Bags.

  • Direct benefit transfer will be used to distribute the 12th instalment payment under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) for the welfare of farmers.

  • Additionally, the PM will open the Agri Startup Conclave and Exhibition, where about 300 firms will present their cutting-edge farming innovations.

  • The occasion will also see the launch of the fertiliser-focused e-magazine “Indian Edge.”


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