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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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.

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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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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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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.

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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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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.

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The United Nations (UN) has designated every 31st of October as World Cities Day (WCD) to promote the international community’s interest in global urbanization, enhance cooperation among countries and cities in meeting opportunities and addressing challenges of urbanization, and contribute to sustainable urban development. This year, the United Nations has selected the 2018 theme ‘Building Sustainable and Resilient Cities’ because cities need support to become resilient and develop their capacity to absorb the impact of hazards, protect and preserve human life and limit damage to and destruction of public and private assets while continuing to provide infrastructure and services after a crisis. The main event was celebrated in Liverpool, UK.

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India and Japan has recently a Loan Agreement worth Rs. 1817 crore for the ‘Project for the Construction of Turga Pumped Storage (I)’ in the State of West Bengal. The purpose of the Project is to strengthen the capability to respond to fluctuation in supply and demand of power and to improve stability of the power supply by constructing the pumped storage facilities, thereby contributing to the Industrial Development and Living Standard Improvement in the State of West Bengal.