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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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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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.

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Ntozake Shange (70), the noted African-American Playwright, poet and author, has passed away in Maryland, United States on October 27, 2018. Her most acclaimed theatre piece is the 1975 Tony Award-nominated play “For Colored Girls Who Have Considered Suicide/When the Rainbow is Enuf”, which describe the racism, sexism, violence and rape experienced by seven black women. She also penned several novels including Sassafrass, Cypress & Indigo , Liliane, and Betsey Brown.

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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.

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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:
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 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.

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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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India’s first asymmetrical cable-stayed bridge “Signature Bridge” has recently inaugurated by the Chief Minister of Delhi, Arvind Kejriwal across the Yamuna River. The bridge connects Outer Ring Road on the western flank of the Yamuna river with the Wazirabad Road on the east. It shortens the travel time between north and northeast Delhi. The 675-metre long bridge, originally conceptualised in 2004, has finally available for public use from November 5. Just like the Eiffel Tower in France, Signature Bridge will also have the facility to transport tourists on top of the main pillar, which is 154 m high, from where distance view of North Delhi can be seen.The pylon of the Signature bridge is tallest structure in Delhi and is double the height of Qutb Minar, which act as selfie points for people.