Current Affairs Quiz - January, 2019

Notes:
As per 2nd schedule of the RBI Act of 1934, the ESAF Small Finance Bank (SFB) Ltd has got approval from Reserve Bank of India (RBI) to operate as a scheduled bank. This makes ESAF the fifth scheduled bank from Kerala after Federal Bank, South Indian Bank, Catholic Syrian Bank, and Dhanlaxmi Bank. Being a scheduled bank, ESAF can step up resource mobilisation through the issue of certificate of deposits and inter-bank borrowings at competitive rates of interest. The bank can also seek funds from trusts, associations, religious institutions and mutual funds. It will also enable the bank to avail higher refinance facility. It will also assume more responsibility for the implementation of government schemes and Aadhaar enrolment services. ESAF has a presence in urban, semi-urban, rural and unbanked rural areas with a network of 432 banking outlets across 13 States. The headquarters of ESAF is located at Thrissur, Kerala.

Notes:
Norman Gimbel (91), the Oscar & Grammy-winning American lyricist has passed away in New York on December 17, 2018. His lyrics graced hit songs such as Roberta Flack’s “Killing me softly with his song” and Jim Croce’s “I got a name”. He also wrote the English lyrics to the Brazilian bossa nova melody ‘The Girl From Ipanema’.

Notes:
A government committee, headed by IIT-Hyderabad chairman B V R Mohan Reddy, has advised the All India Council for Technical Education (AICTE) to stop setting up new colleges from 2020 and review the creation of new capacity every two years after that. The panel has also suggested that no additional seats should be approved in traditional engineering areas such as mechanical, electrical, civil and electronics and that institutes should be encouraged to convert current capacity in traditional disciplines to emerging new technologies. This recommendation has been justified on the ground that current capacity utilisation in traditional disciplines is just 40% as opposed to 60% seat occupancy in branches such as computer science and engineering, aerospace engineering and mechatronics. For the same reason, the committee has urged the AICTE to introduce undergraduate engineering programmes exclusively for artificial intelligence, blockchain, robotics, quantum computing, data sciences, cyber security and 3D printing and design.

Notes:
Recently, German authorities approved an $8 billion rail and road tunnel linking Denmark and Germany, despite environmental objections. The project comprises a four-lane motorway and a two-track railway. It is part-funded by the European Union (EU). The 19 km Fehmarn Belt Fixed Link is a planned immersed tunnel that is proposed to connect the Danish island of Lolland with the German island of Fehmarn. It was due to be completed in 2024, but has been delayed by environmental protests in Germany. The link would cross over the Fehmarn Belt in the Baltic Sea – 18 km wide – hence providing a direct link by railway and highway between northern Germany and Lolland, and thence to the Danish island of Zealand and Copenhagen. Once completed, it will become the world’s longest road and rail tunnel, and will open new socio-economic opportunities on both sides of the border.

Notes:
France has recently introduced a new “GAFA tax” – named after the large internet and technology companies viz. Google, Apple, Facebook and Amazon – to ensure the global giants pay a fair share of taxes on their massive businesses in Europe. The so-called GAFA tax targeting major digital firms comes into force on 1st January 2019. Some other EU member states such as Britain, Spain and Italy are also working on national versions of a digital tax, with Singapore and India also planning their own schemes.

Notes:
The Union Cabinet has recently approved amendment to the Trade Unions Act of 1926 to make provisions regarding Recognition of Trade Unions. The amendment provides for insertion of section 10A in the principal Act to power centre and state governments to recognize trade unions and federation of Trade Unions at Central as well as State level. The proposed bill will also provides for insertion of clause (ba) in Section 29(2) of the Act, which empowers the centre and states to make regulations for manner of recognition of trade unions and deciding disputes in this regard. After the amendment Act is passed, the manner of recognition will be prescribed in the regulations. The present act provides for only registration of trade unions. Currently, there is no provision for recognition of unions in the Act.

Notes:
Lady Head constable Rani of 5th Indian Reserve Battalion (IRB) of Himachal Pradesh Police won a Gold medal in 78 kg category in the Senior National Women’s Judo Championship at Visakhapatnam on January 7, 2019. Rani was also declared the best Judoka at the Championship.

Notes:
As part of the Mission Shakti scheme, Odisha Chief Minister Naveen Patnaik has recently announced interest-free loans of up to Rs 3 lakh for Women Self-Help Groups (WSHGs) in the state. The initiative would benefit around 70 lakh women associated with six lakh SHGs. He also distributed financial assistance of Rs 3,000 each to six lakh WSHGs as part the state government’s efforts to digitally empower women. In a bid to strengthen the programme, the Odisha government has also decided to build ‘Mission Shakti Home’ in each gram panchayat across the state. Besides, the Odisha Chief Minister also announced incentives of Rs 500 per month for anganwadi workers and Rs. 200 for helpers.

Notes:
Prof. Gita Gopinath, the John Zwaanstra professor of International Studies and Economics at Harvard University, has joined International Monetary Fund (IMF) as its first female Chief Economist. The 11th chief economist of the IMF, Gopinath succeeded Maurice (Maury) Obstfeld as Economic Counsellor and Director of the IMF’s Research Department. With this, Gopinath became the 2nd Indian after former RBI Governor Raghuram Rajan to be appointed to the position.

Notes:
On January 7, the Lok Sabha passed ‘The Personal Laws (Amendment) Bill, 2018’, which seeks removal of leprosy as a ground for divorce from various Acts governing marriage in India. The Bill seeks to amend five Acts: the Divorce Act of 1869, the Dissolution of Muslim Marriage Act of 1939, the Special Marriage Act of 1954, the Hindu Marriage Act of 1955, and the Hindu Adoptions and Maintenance Act of 1956. Presently, leprosy is completely curable and can be treated with multi-drug therapy. However, old legislative provisions discriminating the persons affected by leprosy continued in various laws. If passed by Rajya Sabha and eventually made an Act, the Bill will go a long way in detaching the social stigma associated with the disease.