Monthly Current Affairs Quiz - November, 2018

Notes:
Recently, the 19th meeting of the Financial Stability and Development Council (FSDC) held under the Chairmanship of the Union Finance Minister Arun Jaitley reviewed the current global and domestic economic situation and financial sector performance. Apart from liquidity in NBFCs (segmental liquidity position and in mutual fund space), the FSDC discussed on various economic issues ranging from oil prices, rupee, inflation to improving cyber security in the financial sector including “progress made towards setting up of a Computer Emergency Response Team in the Financial Sector (CERT-Fin) under a Statutory Framework”. The FSDC is an apex-level body to strengthen and institutionalise the mechanism of maintaining financial stability, financial sector development, inter-regulatory coordination along with monitoring macro-prudential regulation of economy.

Notes:
India has been ranked 77th in the World Bank’s Ease of Doing Business Index 2018 . With this, India has jumped 23 places from 2017 in which it was ranked at 100th. In its annual ‘Doing Business’ 2019 report, World Bank stated that India improved its rank on six out of the 10 parameters relating to starting and doing business in a country.The report also recognises India as one of the top 10 improvers in this year’s assessment, for the 2nd successive time. The Index ranks 190 countries across 10 indicators ranged across the lifecycle of a business from ‘starting a business’ to ‘resolving insolvency’. These parameters include ease of starting a business, construction permits, getting electricity, getting credit, paying taxes, trade across borders, enforcing contracts and resolving insolvency. New Zealand tops the list, followed by Singapore, Denmark, and Hong Kong.

Notes:
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.

Notes:
The Maharashtra Cabinet has recently approved the conversion of decommissioned aircraft carrier INS Viraat into a floating museum. It will be India’s first-ever moored maritime museum-cum-marine adventure centre. As per primary estimates, the project worth Rs 852 crore will be implemented through Public-Private-Partnership (PPP). It will be grouted (grounded, sealed to the seabed with concrete and moored) seven nautical miles off the Malvan coast at Nivati rocks in Sindhudurg. This will enable the tourists to see the diverse aquatic life and experience sky-diving, sailing and other thrilling sporting activities. Besides, it will make the new generation familiar with the glorious history of INS Viraat. INS Viraat, which holds a place of pride in Indian defence history, was decommissioned in March 2017 and since then has been laid up at the Naval Dockyard. INS Viraat was commissioned by Navy in 1987 and had taken part in all major military operations such as Operation Jupiter (1988, Sri Lanka peacekeeping mission), Operation Vijay (1999, post-Kargil), and Operation Parakram (2001, after Parliament attack). It was made in 1959 for the United Kingdom’s Royal Navy as ‘HMS Hermes’ and was instrumental in the Falklands War victory. It is 743-foot long and 160-foot wide with a height of 29 feet.

Notes:
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.

Notes:
India has officially signed a $950 million contract with Russia for the purchase of two upgraded Krivak III-class stealth frigates for the Indian Navy. The two frigates of the Project 11356 class will be bought directly from Russia and a contract to build two more at an Indian yard is likely to be signed at a later stage. The frigates are built by Yantar Shipyard of Russia and will be powered by Ukrainian gas turbine engines. They will be equipped with Indian-built radar, sonar, communication suites and anti-ship BrahMos missile systems. The ships are expected to be delivered by the end of 2022. The procurement of the frigates will involve a rupee-rouble transaction instead of using U.S. dollars to avoid American sanctions on Russian defense companies under CAATSA (Countering America’s Adversaries Through Sanctions Act). The Project 11356 is a derivative of the Talwar-class frigates that Russia has built for the Indian Navy.

Notes:
Steel manufacturing giant Tata Steel has been named as an official partner of the 14th edition of the FIH men’s hockey World Cup 2018 to continue their efforts of promoting development through sports across the country. The tournament is scheduled to be held at the Kalinga Stadium in Bhubaneswar, Odisha from November 28 to December 16. India will host the upcoming prestigious 2018 FIH World Cup for the 3rd time after having played hosts in 1982 in Mumbai and in 2010 in New Delhi. A total of 16 nations will take part in the tournament which will see each team play three matches during the league stage over a span of 12 days before four cross-over matches take place on December 10 and 11.

Notes:
The World Vegan Day (WVD) is observed every year on November 1 to commemorate the holistic benefits of switching to veganism. Veganism is the practice of abstaining from consuming any animal products, including milk, curd, eggs, cheese, honey, and meat amongst other derived products.

Notes:
Simone Biles, an American artistic gymnast, has become the first ever gymnast to win 13 world championship gold medals with victory in the individual vault competition in Doha, Qatar on November 2, 2018. She broke the all-time record set by Belarusian male gymnast Vitaly Scherbo in 1996.

Notes:
The 2nd edition of the India International Cherry Blossom (IICB) festival in Shillong, which is is scheduled to be held from November 14 and 17. It is the world’s only autumn cherry blossom festival. The fest will celebrate the unique mass flowering of autumn Himalayan cherry blossoms with several cultural events in the Meghalaya capital. The visitors can enjoy fashion shows, rock concerts, beauty pageants and also compete in an amateur golf tournament. Alongside, there will be stalls showcasing the food, arts and crafts of the region, and several cultural events and a food pavilion of Japan in partnership with the Embassy of Japan in India. It is expected that the fest will attract more than one lakh visitors from across the world.