Monthly Current Affairs Quiz - November, 2018

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.

Notes:
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.

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.

Notes:
According to India’s first-ever ‘Ease of Moving Index 2018’ – India Report 2018, Kolkata has topped the index in terms of cleanliness and affordability of public transport, followed by New Delhi and Chennai. The index offers insights on mobility preferences & aspirations of Indian commuters across 20 cities with a population of over 92 million. It was released by Ola Mobility Institute (OMI), the research and outreach arm of Ola ride-hailing platform. The 2018 report, which was released by the Union Minister for Surface Transport Nitin Gadkari, seeks to offer a comprehensive action plan for cities to further strengthen their public transportation systems and improve the overall state of mobility. Over 43,000 respondents from 20 cities across the country were surveyed. Cities were selected on five parameters — scale, character, culture, economy and geography. The report also assessed the accessibility, efficiency and safety of current transportation facilities. More than 95% of denizens prefer sustainable mobility and 80% observed transport ecosystem has improved over the last five years with 60% reporting using public modes of commute.

Notes:
In Boston, veteran actor Anupam Kher has recently been honoured with ‘Distinguished Fellow Award’ by IndiaGlobal – a leading think-tank that works on issues concerning non-resident Indians. He was given a fellowship at the 3rd IndiaGlobal Summit 2018. The event was held at the prestigious MIT Sloan School of Management in Boston, and was facilitated by MIT Sloan India Business Club.

Notes:
Gafur Rakhimov, an Uzbek businessman and sports administrator, has been elected as the new President of the International Boxing Association (AIBA), which is an amateur boxing’s global governing body. AIBA is a sport organization that sanctions amateur (Olympic-style) boxing matches and awards world and subordinate championships. Its headquarters is located at Lausanne, Switzerland.

Notes:
In the 8th Asian Shotgun Championship 2018 in Kuwait, Angad Vir Singh Bajwa has won the men’s skeet gold with a perfect score of 60 — a World record — in the final on November 7. With this, he became the first Indian skeet shooter to win a continental or world level event. Angad shot a perfect 60 out of 60 in the final round to claim top spot ahead of China’s Di Jin who shot 58. UAE’s Saeed Al Maktoum won bronze with a score of 46. In the concurrently held 11th Asian Air Gun championship, Indian team of Elavenil Valarivan and Hriday Hazarika won the mixed air rifle gold with a world junior record of 502.1. The other Indian team of Mehuli Ghosh and Arjun Babuta bagged the bronze.

Notes:
The IIT Madras has recently developed a portable solar-powered cold storage device with a 500 kg capacity for storing vegetables, and fruits, among other items. The device will help farmers store their produce for sufficient time so that it does not get spoilt before it is sold, thereby preventing wastage of agricultural produce.The first unit of the device, which provides storage facility with temperature ranging between 4 to 10 degree celsius, was deployed at a farm in Madurantakam in Kancheepuram district, around 80 km from Chennai, recently. Each unit would cost between Rs 5.5 to Rs 6 lakh and storage capacity could be scaled down based on requirement. The project has been funded by Department of Science and Technology (Ministry of Science and Technology) and IIT-M. A startup called Tan90, initiated by IIT-M students, aims to commercialise the technology and take it to individual farmers with even smaller devices at affordable prices.

Notes:
The new artillery guns and equipment, including K9 Vajra, M777 howitzers, have recently inducted into the Indian Army at the Deolali artillery centre in Nashik district of Maharashtra. Beside this, the third gun system inducted is the ‘Composite Gun Towing Vehicle’ for towing some of the existing guns in service with the country. The K9 VAJRA-T 155mm/ 52 is a tracked self-propelled artillery gun, which has its roots in the K9 Thunder, the mainstay of the South Korean Army. The Vajra offers a high rate of fire at a long range and is compatible with Indian and standard NATO ammunition. The M777 is the 155mm/ 39 Calibre Ultra Light Howitzer (ULH) that have been procured from USA under Government to Government Foreign Military Sales and will be assembled in India by BAE Systems in partnership with Mahindra Defence. The M777s can be easily transported to high altitude areas such as borders with China and Pakistan by helicopters.

Notes:
The 33rd edition of ASEAN summit 2018 has started in the city-state of Singapore on November 11 with theme ‘Resilient and innovative Asean’. The main event is being held at Suntec Singapore Convention Centre, wherein the ten ASEAN members will be discussing key issues on economic, security and cultural cooperation. The summit is being chaired by Singapore’s Prime Minister Lee Hsien Loong. Besides the main event, several related meetings like Regional Comprehensive Economic Partnership (RCEP), East Asia Summit (EAS) and Fintech Festival are also taking place during the 5-day event. Prime Minister Narendra Modi is scheduled to attend the East Asia Summit and Associated meetings of ASEAN on 14th and 15th November in Singapore. In the biggest of its kind event more than 400 companies from over 100 countries are taking part as exhibitors.