Monthly Current Affairs Quiz - November, 2018

Notes:
Louis Cha Jing-yong (94), a Hong Kong journalist and best-selling Chinese martial arts novelist, has passed away in Happy Valley, Hong Kong on October 30, 2018. Cha’s first novel, “The Book and the Sword,” was published in 1955 and became an instant hit. He went on to write 14 martial arts novels, often under the pen name Jin Yong. His works have the unusual ability to transcend geographical and ideological barriers separating Chinese communities of the world, achieving a greater success than any other contemporary writer. His works have been translated into many languages including English, French, Korean, Japanese, Vietnamese, Thai, Burmese, Malay and Indonesian. According to ‘The Oxford Guide to Contemporary World Literature’, Jin’s novels are considered to be of very high quality and are able to appeal to both highbrow and lowbrow tastes.

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The Kingdom of Netherlands will be the Partner Country at the 25th DST – CII Technology Summit 2019. It was recently announced by Dr. Harsh Vardhan, Union Minister for Science & Technology, Earth Sciences, Environment,Forest and Climate Change. The Minister highlighted the successful bilateral research cooperation between India and Netherlands in sectors such as affordable medical devices, urban water systems, big data and Internet of Things (IoT). The Summit will be organised by Department of Science and Technology (DST) and the Confederation of Indian Industry (CII) in collaboration with the Netherlands government.

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Naveen Patnaik, the Chief Minister of Odisha, has recently launched ‘Soura Jalanidhi’ scheme which aims at increasing use of solar energy for helping farmers in irrigation. ‘Soura Jalanidhi’ is a dug well based solar pump irrigation system in convergence mode. Under the scheme, 5,000 solar pumps will be provided to farmers at a subsidy of 90 per cent to irrigate 2,500 acres of land. The chief minister also launched the web portal of this scheme on the occasion. The event was attended by 1,000 farmers from 30 districts through video conference. In the first phase, the facility will be available for farmers where electicity is not avaialable for operating pump sets. The solar pumps will be given to the beneficiary farmers at a subsidy of 90%. A total of Rs 27 crore will be spent for the programme. Farmers having valid farmer identification, belonging to small and marginal categories having minimum 0.5 acre cultivable land and a dug well will be covered under the programme.

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The Republic of Seychelles has launched the world’s first sovereign blue bond – a financial instrument designed to support sustainable marine and fisheries projects. The bond developed with the assistance of the World Bank & was placed to 3 investors: Calvert Impact Capital, Nuveen and Prudential. The blue bond has a US5m guarantee from the World Bank, and is also supported by a US5m concessional loan from the Global Environment Facility (GEF) which will partially cover interest payments.The blue bond demonstrates the potential for countries to harness capital markets for financing the sustainable use of marine resources. It will include support for the expansion of marine protected areas, improved governance of priority fisheries and the development of the Seychelles’ blue economy.

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Justice Debasish Kar Gupta has recently been sworn-in as the new chief justice of the Calcutta High Court. It is the oldest High Court in India and has jurisdiction over the state of West Bengal and the Union Territory of the Andaman and Nicobar Islands. The seat of the High Court is Kolkata, capital of West Bengal. The High Court building’s design is based on the Cloth Hall, Ypres, in Belgium.

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Recently, China has successfully launched its first geostationary BeiDou-3 satellite ‘G1Q’ into high orbit (about 36,000 km above the Earth) to boost its home-grown BeiDou global satellite navigation system. It was launched from the Xichang Satellite Launch Centre in the southwestern Sichuan Province. In a geostationary orbit, following the Earth’s rotation, it will view the same point on Earth continuously. The satellite is meant to serve countries in the China-proposed Belt and Road Initiative (BRI). Apart from radio navigation system, the satellite is equipped with an improved radio determination satellite service that can provide short message services to 10 million subscribers each hour. With an advanced satellite-based augmentation system, the satellite can also provide low-cost and reliable navigation services to civil aviation clients at home and abroad. The satellite is carrying hydrogen and rubidium atomic clocks, which will play a key role in positioning and timing accuracy. It will be the fourth global satellite navigation system after the United States (US) Global Position System (GPS), Russia’s GLONASS and the European Union’s Galileo. By around 2020, when the BeiDou system goes global, it will have more than 30 satellites.

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Recently, the first-ever India-US Dialogue On Intellectual Property (IP) was launched in New Delhi to deepen bilateral strategic cooperation on IP policy. The dialogue was launched by US Chamber of Commerce’s Global Innovation Policy Center (GIPC) and FICCI in partnership with the US-India Business Council. It will be convened annually, alternating between New Delhi and Washington DC. The dialogue aims to identify solutions, and also share technical knowledge and expertise. The US-India Business Council, which was formed in 1975, is a business advocacy organisation comprised of 350 top-tier US and Indian companies advancing US-India commercial ties.

Notes:
Mary Kom, a five-time World Champion, has been named the Brand Ambassador of the 10th edition of theWomen’s World Boxing Championships (WWBC-2018). The World Championships is scheduled to be held at the IG Stadium’s K.D. Jhadav Hall in New Delhi from November 15 and 24. It will see close to 300 pugilists from 70 countries across 10 weight categories, the tournament’s highest-ever participation, including Olympic medalists, World and European Champions.

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The Reserve Bank of India (RBI) has initiated steps to set up a wide-based digital Public Credit Registry (PCR) to capture details of all borrowers, including wilful defaulters and also the pending legal suits in order to check financial delinquencies. The PCR will also include data from entities like market regulator SEBI, the Ministry of Corporate Affairs, Goods and Service Tax Network (GSTN) and the Insolvency and Bankruptcy Board of India (IBBI) to enable the banks and financial institutions to get 360 degree profile of existing and prospective borrowers on a real-time basis. The central bank has invited expression of interest for developing the registry from companies with a turnover of over 100 crore rupees in the last three years. The PCR would be the single point of mandatory reporting for all material events for each loan, notwithstanding any threshold in the loan amount or type of borrower. Currently, there are multiple granular credit information repositories in India, with each having somewhat distinct objectives and coverage.

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The World Tsunami Awareness Day (WTAD) is observed every year on November 5 to raise awareness about precautionary measures against tsunami and share innovative approaches to risk reduction. Along with risk of large loss of life, the day also highlight the economic losses tsunamis can inflict along vulnerable, densely populated coastlines, shown in red on this map. Tsunamis are rare events, but can be extremely deadly. In the past 100 years, 58 tsunamis have claimed more than 260,000 lives, which is the highest number of deaths than in any other natural hazard. The day was the brainchild of Japan, which due to its repeated, bitter experience has over the years built up major expertise in areas such as tsunami early warning, public action and building back better after a disaster to reduce future impacts.