Current Affairs Quiz - February, 2021

Notes:
As per a recent report by Alvarez & Marsal India, as at September 2020, it took an average of 440 days for resolving 277 cases approved by the NCLT under the IBC.
The report stressed on the need for time-bound resolution of stressed assets and enhancing the resolution processes under Insolvency and Bankruptcy code as recovery percentages fell sharply to 15-25 % whenever there is an increase in time taken for resolution.

Notes:
China-based technology major Xiaomi has announced “Mi Air Charge”. It is a new wireless charging technology that has been patented by the company.
This device lets users to charge multiple electronic devices without any cables, pads, or wireless charging stands. But Xiaomi has stated that this device is still in the concept phase and will not be available commercially in the near future.

Notes:
The National Statistical Office (NSO) recently released its revised national account data. As per the data, the economic growth rate for 2019-20 was revised downwards to 4 per cent.
The decrease from the previous estimate of 4.2 per cent was mainly due to contraction in secondary sectors like manufacturing and construction. Real GDP growth of 2018-19 is estimated at 6.5 per cent, against the 6.1 per cent revealed in January estimate.

Notes:
Sandro Botticelli, was an Italian painter, who lived from 1445 to 1510 in Florence, Italy. He is said to be an important artist who have contributed to Florentine painting period.
Recently, one of his rare portraits, the “Young Man Holding a Roundel” was sold for USD 92.2 million (equivalent to Rs 6,722 million) at an auction held at Sotheby’s in New York. This also made a world record auction for any work by the Italian artist.

Notes:
Swami Vivekananda started the ‘Prabuddha Bharata’, a monthly journal of the Ramakrishna order in 1896, to spread the message of India’s spiritual knowledge.
Prime Minister Narendra Modi addressed the 125th Anniversary celebrations of ‘Prabuddha Bharata’ organized by Advaita Ashrama in Uttarakhand. It is the place of publication of the journal. Several leaders like Netaji Subhas Chandra Bose, Bal Gangadhar Tilak, and Sri Aurobindo have contributed to the journal.

Notes:
The China National Nuclear Corporation has stated that it has begun commercial electricity production from its “Hualong One unit” which are the third-generation pressurised water nuclear reactors of the country.
The reactor constructed for more than five years at Fuqing in Fujian province was first connected to the grid in November.

Notes:
Bangladesh has sent a third group of Rohingya refugees to Bhashan Char Island, which is a newly developed island in the Bay of Bengal.
Around 4,000 refugees have been sent to the island since December. After the third set of 1,778 refugees, the fourth set is also expected to be sent soon. There have been several calls from human rights activists against resettlement of refugees in the island.

Notes:
The FDI limit in Indian insurance companies increased to 74% in 2021. The Insurance Act, 1938 was amended to permit up to 100% foreign direct investment from February 5, 2026. Foreign investors and FPIs can now collectively own 100 percent equity in Indian insurance companies, according to the Sabka Bima Sabki Raksha Act, operative from February 2026. This act ended all previous sectoral FDI cap restrictions.

Notes:
Indian-American Bhavya Lal has been appointed as the acting chief of staff of the US space agency, NASA.
She was earlier serving as a member of the research staff at the Institute for Defence Analyses- Science and Technology Policy Institute (STPI). She had served in several important positions related to space sector.

Notes:
The Commonwealth Human Rights Initiative (CHRI) is an independent and international non-governmental organisation which works towards the realisation of human rights in the Commonwealth countries.
The Commonwealth Human Rights Initiative has recently issued a statement calling for the withdrawal of sedition cases file against journalists in India. It also sought the repealing of sedition and criminal defamation laws.