Monthly Current Affairs Quiz - November, 2018

Notes:
Justice Naresh Harishchandra Patil has been sworn-in as the new Chief Justice of the Bombay High Court. Maharashtra Governor C Vidyasagar Rao administered the oath of office to Justice Patil at a brief ceremony held at Raj Bhavan. The Bombay High Court is one of the oldest High Courts of India and its principle seat is at Mumbai. Its jurisdiction covers the states of Maharashtra and Goa, and the Union Territories of Daman and Diu and Dadra and Nagar Haveli.

Notes:
The world’s largest airport terminal “under one roof” has officially been opened in Istanbul on October 29, which marks the Republic Day of Turkey. It is dubbed as phase-1A of the project – Istanbul New Airport – will have a capacity to handle 90 million passenger per year. The first phase has costed 7.5 billion Euro. The airport has been envisioned to have a total capacity of up to 200 million passengers, once all four phases are completed in the next 10 years. The new terminal once fully functional by December-end will allow passengers to use its five pier blocks as well as 77 boarding gates and 143 aero-bridges. The new airport is located near the Black Sea coast on the Europe side of Istanbul. It features two runways, while 114 narrow body aircraft can dock with the terminal building at the same time. This new airport is also slated to become Turkish Airlines’ new hub.

Notes:
The Andhra Pradesh government is building a world-class and India’s first ‘Justice City’ within its new capital Amaravati with the vision to provide a state-of-the-art ecosystem built on latest technology for supporting the judicial system in the state. The Justice City will comprise integrated judicial hub spread across 3,309 acres with an estimated population of 2.5 lacs. It is expected to generate employment for more than 1.3 lac people. The Andhra Pradesh Capital Region Development Authority (APCRDA). is the nodal agency which is developing Amaravati.

Notes:
The Ministry of Drinking Water and Sanitation (MDWS) organized a seminar on Gandhian Thought and Swachhata in Wardha district of Maharashtra on October 29, 2018. It was part of 150th birth year celebrations of Father of the Nation. The seminar was centered on the Gandhian ideology on sanitation and the implementation of the same through the Swachh Bharat Mission (SBM). It addressed on topics such as appropriate technologies in rural sanitation, organic waste management, and preventive sanitation. The main focus of the seminar was the Gandhi ji’s concept of Swachh evam Swawalambhi Sankul. The SBM campaign is a massive people’s movement, which has shown significant progress with the rural sanitation coverage having increased from 39%, at the launch of the SBM in 2014, to over 95% today. With 8.7 crore toilets constructed, 5.15 lakh villages, 530 districts and 25 States and Union Territories have been declared ODF. The campaign was officially launched on 2nd October 2014 at Rajghat, New Delhi by Prime Minister Narendra Modi.

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:
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.

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:
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:
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.

Notes:
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.