8 November 2022 Daily Current Affairs: Guru Nanak Jayanti, 22nd Law Commission, Highest Currency Circulation

553rd birth anniversary of Guru Nanak Dev is celebrated on November 8, 2022.

Facts For Exams

He was the first of the ten Sikh Gurus and the founder of Sikhism.
Through the concept of ek Onkar (One God), he creates a distinctive spiritual, social, and political platform founded on fairness, fraternal love, goodness, and morality.
His words are recorded in the Guru Granth Sahib, the sacred book of the Sikh religion.
All around the world, Guru Nanak Gurpurab is used to celebrate his birth.

22nd Law Commission

The 22nd Law Commission of India has been established after two and a half years, with Justice (retd) Rituraj Awasthi serving as its chairman. The term of the commission would be three years.

Terms of Reference

Determine which laws can be immediately abolished since they are no longer necessary or relevant.
Analyze the current legislation in light of the Directive Principles of State Policy and make suggestions for their modification and reform
Legislation that may be required to implement the Directive Principles should be proposed.
Revise the Central Acts of General Importance to make them clearer, simpler, and more equitable.

7 November 2022 Daily Current Affairs: CV Raman Birth Anniversary, Cancer Awareness Day & More

Record high Currency in circulation since Demonetisation

Despite the rise in digitization, six years after the implementation of demonetisation, the amount of cash in circulation is at a record high of over 30 lakh crore (more than 71% higher than the figure for November 2016).

Why there is so much cash in circulation?

Cash is seen as a straightforward and more dependable form of payment.
Cash is the favoured method to avoid taxes because it is less traceable than digital transactions.
People in smaller towns and villages prefer cash because they don't have access to banks or computer literacy.
Demonetization, according to the government, "significantly boosted the digital economy" in 2020. Unreported assets totaling Rs. 7,877 crore were seized, and unreported earnings worth "Rs. 87,200" have been acknowledged.

National Affairs

Critical Information Infrastructure

The National Population Register (NPR) and the websites and applications associated with it have recently been designated as "protected systems" or "critical information infrastructure" under the Information Technology (IT) Act, 2008.

Digi Yatra’s data privacy

NITI Aayog is asking the Center for clarification on Digi Yatra's data privacy policies, particularly with regard to the storage of passenger data, legal compliance, the dependability of the ecosystem supporting Digi Yatra, and a flight boarding system that makes use of this technology.

Blending of more than 15% non-basmati rice

For products sold as blended "Basmati" rice, the government would forbid the mixing of more than 15% non-basmati rice with basmati rice. This is done to prevent the purity of Indian Basmati Rice from being diluted by excessive blending. Instead of being referred to as "mixed Basmati Rice," rice that has more than 15% non-basmati rice will be referred to as "blended Rice."

International Affairs

Beaver blood moon

For the last time until 2025, the Earth, moon, and sun will align to produce a total lunar eclipse. A total lunar eclipse happens when the Earth entirely blocks the moon's ability to reflect any direct sunlight, giving the moon the name "blood moon" and darkening its colour to a crimson hue.

World Heritage Glaciers (WHG) Sentinels of Climate Change

The report, recently released by UNESCO and IUCN, lists 50 sites as world heritage sites and offers recommendations for how to protect them. Nearly 10% of the Earth's surface is covered by glaciers, and the World Heritage Glaciers are essential to maintaining life as we know it. They are, however, disappearing more quickly as a result of climate change.

World Gold Council: Data

According to the World Gold Council, the Reseve Bank of India (RBI) purchased over 191 tonnes of gold in Q3 2022 for a total of Rs 85,010 crore because of the current global inflation (food and energy prices) and recession risk, which have increased uncertainty regarding the state of the global economy.