Current Affairs Quiz - April, 2019

Notes:
Fitch Ratings has recently said in its APAC sovereign credit overview report that the Reserve Bank of India (RBI) is the first Asia-Pacific (APAC) central bank to begin interest rate easing cycle by cutting the policy rate back-to-back in the last two monetary policy reviews in 2019. The Monetary Policy Committee (MPC), headed by RBI Govenor Shaktikanta Das, cut rates in February and April, citing prospects of benign inflation. In the four months of 2019, the RBI has cut policy interest rates twice twice by 0.25% each to one-year low of 6%. Earlier in April 2019, Fitch Ratings kept India’s rating unchanged for the 13th time in a row at BBB- , which is the lowest investment grade, along with a stable outlook. The agency cited various challenges faced by the country such as high public debt, weak financial sector and lagging structural reforms.

Notes:
The Reserve Bank of India (RBI) has divested its entire stake in National Housing Bank (NHB) and the National Bank for Agriculture and Rural Development (Nabard) for Rs 1,450 crore and Rs 20 crore, respectively. The move is part of ending the cross-holding in regulatory institutions and follows the recommendation of second Narasimham committee report of October 2001 and the RBI’s own discussion paper on the same entitled ‘Harmonizing the role and operations of development financial institutions and banks. The current change in the capital structure of both these financial institutions was brought in by the government through amendments to the Nabard Act of 1981 and the NHB Act of 1987 which were notified on January 19, 2018 and March 29, 2018, respectively. With this, the Government of India (GoI) now holds 100% stake in both these financial institutions.

Notes:
The 5th Asia Pacific Broadcasting Union (ABU) Media Summit on Climate Action and Disaster Preparedness has started in Kathmandu, Nepal on April 26, 2019. The theme of the two-day summit is “Media Solutions for Sustainable Future: Saving Lives, Building Resilient Communities”. The basic aim of the summit is to address the issue of fully utilizing media’s potential of accelerating climate action and disaster preparedness and connect stakeholders to media professionals for collaboration and joint practical projects. Over 200 participants including political leaders, representatives of UN agencies and NGOs, climate change and disaster management experts, scientists and media persons are attending the event.

Notes:
The 2019 World Immunization Week (WIW) is a global public health campaign i.e. celebrated by the World Health Organisation (WHO) from April 24 to 30 with theme “Protected Together: Vaccines Work!”. The week highlights the urgent need for immunisation against vaccine-preventable diseases for children and adults the world over. The 2019 theme aims to raise awareness about the importance of full immunization throughout life and urge greater action. This year’s campaign emphasizes the role and responsibility of everyone—policymakers, health workers, and individuals—in closing the immunization gap to protect children and broader communities.

Notes:
General (Retd.) Dalbir Singh Suhag has been appointed as India’s new high commissioner to the Republic of Seychelles. He is expected to take up the assignment shortly. His appointment comes amid deepening military ties between India and the island nation. Incidentally, Suhag was the chief of army staff when India conducted surgical raids across the Line of Control into Pakistan-administered Kashmir in 2016 after the terrorist attack on an Indian army camp in Uri. Seychelles is strategically important to India as New Delhi is developing Assumption Island as a naval base to expand its footprint in the strategically-key region where China has been trying to enhance its military presence.

Notes:
Rama Sengupta Paul (66), the Veteran lady mountaineer, has passed away in Kolkata, West Bengal. She led the first successful all-women expedition to Kedarnath Dome in Garhwal Himalaya which was organized by city-based Himalayan Association to commemorate the International Year of Women in 1975.

Notes:
The “Politics of Jugaad: The Coalition Handbook” has been authored by journalist Saba Naqvi. In it, the author examined the possibility of a coalition government after 2019 Lok Sabha polls. It traces the history of political alliances in the country taking into account their performance on economic and and social policies, among others. The book also makes a study of the Congress’ “tryst with dynasty” with Priyanka Gandhi Vadra taking a plunge into active politics for the party helmed by her brother Rahul Gandhi.

Notes:
The six-member expert committee led by former RBI governor Bimal Jalan was appointed on December 26, 2018 to review the Economic Capital Framework (ECF) for the Reserve Bank of India (RBI). It is in news recently because the Jalan panel is likely to submit its report by June 2019. The panel is expected to spell out details regarding how the RBI should handle its reserves and whether it can transfer its surplus to the government. The report is also expected to detail the amount the central bank should transfer to the government. The terms of reference of the committee would be to review status, need and justification of various provisions, reserves and buffers presently provided for by the RBI. The committee will also review best practices followed by the central banks globally in making assessment and provisions for risks, to which central bank balance sheets are subjected.

Notes:
Dominic Thiem clinched the 2019 men’s singles title at the Barcelona Open Tennis tournament. In the final, he defeated Daniil Medvedev by 6-4, 6-0 at the Real Club de Tenis Barcelona in Barcelona, Spain. With this feat, Thiem has become the first Austrian to take the Barcelona title since Thomas Muster in 1996.

Notes:
Alfred Brownell from Liberia, an environmental lawyer and activist, has been awarded the prestigious 2019 Goldman Environmental Prize for exposing alleged abuse by the palm oil company Golden Veroleum Liberia and helping to prevent it from converting about 50 km2 of forest that is home to elephants, pygmy hippopotamuses and chimpanzees into palm oil plantations. The other winners of the top environment prize are: Linda Garcia of Vancouver, Ana Colovic Lesoska of North Macedonia, Bayarjargal Agvaantseren of Mongolia, Jacqueline Evans of the Cook Islands and Alberto Curamil of Chile. The Goldman Environment Prize is awarded annually to six grassroots activists from six different continents who have taken action and risked their lives to protect the planet.