Monthly Current Affairs Quiz - November, 2018

Notes:
Nobel Prize Winner Malala Yousafzai will be honoured by Harvard University for her work promoting girls’ education. The award will be conferred with the 2018 Gleitsman Award at a ceremony on 6th December. Currently, Yousafzai is a student at Oxford University in England. The Gleitsman Award provides $125,000 for activism that has improved quality of life around the world. Yousafzai became the youngest person to win the Nobel Peace Prize in 2014 when she was recognized for her global work supporting schooling for all children. As a teen in Pakistan, she survived an assassination attempt by the Taliban. She later founded the nonprofit Malala Fund to support her work.

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S S Deswal, a 1984 batch IPS officer of Haryana cadre, has been appointed as the new Director General (DG) of Indo-Tibetan Border Police (ITBP) for a period up to his superannuation on August 31, 2021. He succeeded R K Pachnanda. Prior to this post, Deswal was the DG of the Sashastra Seema Bal (SSB). The ITBP was raised on 24 October 1962 under the CRPF Act, in the wake of the Sino-Indian War of 1962. It is one of the five Central Armed Police Forces of India. Apart from its primary task of guarding the 3,488-km India-China border, where ITBP troops are deployed at freezing heights of up to 18,700 feet, the paramilitary force is tasked with rendering a variety of duties in the internal security domain, including undertaking anti-Naxal operations in Chhattisgarh.

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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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First time in Middle east, Qatar will host the 23rd edition of the World Corporate Games (WCG) in Doha in 2019, which will provide an opportunity for corporations around the world to showcase their competitive prowess through sports. It will be the first time that the WCG incorporate eSports and mindsports. The event features both individual and team competitions, open equally to women and men of all ages and abilities with team events for skilled, semi-skilled or novice participants.It is an all-inclusive event with paragames integrated for various categories as well. The World Corportate Games (WCG) aims to bring together, the local, regional and international business sporting community. The sporting event takes place every one to two years and the 2018 edition was held in Houston in the US.

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On November 1, the Union Cabinet has approved a proposal to rename the Jharsuguda airport of Odisha after eminent freedom fighter Veer Surendra Sai. Renaming of the Jharsuguda airport in his name will fulfill long-pending demand of the Odisha Government, which reflects the sentiments of the local public of the respective area. It will also be a befitting tribute to the contribution of the revered personality associated with the State. Veer Surendra Sai, who was born on 22nd January 1809 in Sambalpur district of the State, had sacrificed his life fighting against British East India company. He and his associates resisted the British and successfully protected most parts of Western Odisha region for some time from the British rule. Many of them were hanged by the British & a few died in the Cellular Jail in the Andamans. Surendra Sai died in Asirgarh Jail on 23rd May 1884.

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The Reserve Bank of India (RBI) has recently permitted banks to grant Partial Credit Enhancement (PCE), or a partial guarantee, to bonds issued by systematically important non-deposit taking Non-Banking Financial Companies (NBFC-ND-SIs) registered with the Reserve Bank of India and Housing Finance Companies (HFCs) registered with National Housing Bank. The move is aimed at enhancing the credit rating of the bonds and enabling these NBFCs to access funds from the bond market on better terms. PCE is expected to help NBFCs and HFCs raise money from insurance and provident or pension funds who invest only in highly-rated instruments. The proceeds from the bonds, whose tenor cannot be less than three years, backed by PCE from banks can only be utilised for refinancing the existing debt. The central bank has restricted the exposure of a bank through PCEs to bonds issued by each such NBFC or HFC to 1% of capital funds of the bank within the current single and group borrower exposure limits.

Notes:
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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V. Rathinam (99), the veteran freedom fighter and member of Indian National Army (INA) led by Nethaji Subash Chandra Bose, has passed away in South Kodikulam, Tamil Nadu on November 4, 2018. Born on 16th August 1919, Rathinam had moved to Burma when he was a bachelor and joined the INA during the Second World War in the early 1940s. After completing the training programme, he was inducted into the INA and fought against the British. Later, he was imprisoned by the British along with others and served jail terms in different prisons before he was set free from a prison in Kolkata.

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The ‘Little India Gate’, the first-of-its-kind structure in Indonesia, has recently inaugurated at Kampung Madras or Madras Village area in Medan city, the 4th largest city in the country. It recognises the contribution of Indian community in the development of Medan city. The new structure was jointly by India’s ambassador to Indonesia and Timor Leste Pradeep Kumar Rawat and Mayor of Medan H T Dzulmi Eldin S. About 7,000 people witnessed the historic moment with great enthusiasm. The Kampung Madras area is one of the city’s significant ethnic enclaves comprising a large population of people of Indian descent whose ancestors had settled down in Medan in mid-19th century. Every year, Kampung Madras becomes a meeting point for Hindu and Tamil festivals such as Thaipusam or the Tamil New Year, Pongal and Deepavali.