Current Affairs Quiz - August, 2019

Notes:
The Asia-Pacific Group (APG) of the Financial Action Task Force (FATF) is a global watchdog for terror financing and money laundering. It has recently put Pakistan in the Enhanced Expedited Follow Up List (Blacklist) for its failure to meet its standards. The APG has also found that Pakistan was non-compliant on 32 of the 40 compliance parameters of terror financing and money laundering. On 11 effectiveness parameters of terror financing and money laundering, Pakistan was adjudged as low on 10. According to officials, Pakistan could not convince the 41-member plenary to upgrade it on any parameter. Now, Pakistan has to focus on avoiding the blacklist in October 2019, when the 15-month timeline ends on the FATF’s 27-point action plan.

Notes:
Constable Monali Jadhav from Maharashtra was representing the Indian Police Force (IPF) at the recently concluded 2019 World Police and Fire Games International Championship held in Chengdu, China. She bagged the gold in target and field archery while settled for a bronze in the ‘3D Archery’ in the tournament. She also made a new record with a score of 716 out of 720 points in the game. Jadhav is attached to the Jalamb police station in Buldhana district of Maharashtra.

Notes:
NITI Aayog has recently released report on the Composite Water Management Index 2.0 (CWMI 2.0) for reference year 2017-18 . Gujarat has been ranked first in the CWMI 2.0, followed by Andhra Pradesh, Madhya Pradesh, Goa, Karnataka and Tamil Nadu. In North Eastern and Himalayan States, Himachal Pradesh has been adjudged No. 1 in 2017-18 followed by Uttarakhand, Tripura and Assam. The Union Territories have first time submitted their data and Puducherry has been declared as the top ranker. In terms of incremental change in index (over 2016-17 level), Haryana holds No. 1 position in general States and Uttarakhand ranks at first position amongst North Eastern and Himalayan States. On an average, 80% of the states assessed on the Index over the last 3 years have improved their water management scores, with an average improvement of +5.2 points.

Notes:
The Government of India (GoI) has recently notified the Sabka Vishwas – Legacy Dispute Resolution Scheme 2019 to reduce legacy service tax and central excise cases in the pre-GST era. The scheme will be operationalized from 1st September 2019 & would continue till 31st December 2019. The two main components of the Scheme are dispute resolution and amnesty. The most attractive aspect of the scheme is that it provides substantial relief in tax dues for all categories of cases as well as full waiver of interest, fine and penalty. For all the cases pending in adjudication or appeal – in any forum – this Scheme offers a relief of 70% from the duty demand if it is Rs.50 lakhs or less and 50% if it is more than Rs. 50 lakhs. The same relief is available for cases under investigation and audit where the duty involved is quantified and communicated to the party or admitted by him in a statement on or before June 30, 2019. The scheme is especially tailored to free the large number of small taxpayers of their pending disputes with the tax administration.

Notes:
The Central Vigilance Commission (CVC) has constituted Advisory Board for Banking Frauds (ABBF) to examine bank fraud over Rs 50 crore and recommend action. The panel in its previous avatar called the Advisory Board on Bank, Commercial and Financial Frauds. The 4-member ABBF, which is headed by former Vigilance Commissioner T M Bhasin, has been formed in consultation with the RBI and it will function as the first level of examination of all large fraud cases before recommendations or references are made to the investigative agencies by the respective Public Sector Banks (PSBs). The jurisdiction of board will be confined to those cases involving officers of General Manager (GM) level and above in the PSBs in respect of an allegation of a fraud in a borrowal account. The banks will refer all large fraud cases above Rs 50 crore to ABBF and on receipt of its recommendation, they concerned will take further action in such matter. The tenure of the Chairman and members would be for a period of two years from August 21, 2019.

Notes:
South Korea has recently conducted 2-day drill exercise to practise defending disputed islands off its east coast against an unlikely attack from Japan. The annual drills come just days after Seoul terminated a military intelligence-sharing pact with Tokyo. The exercise will involve warships and aircraft. The drill — re-named “East Sea territory defence training” — will solidify the military’s resolve to defend the Dokdo islands and the area surrounding the Sea of Japan. The delayed exercise comes as tensions with neighbouring Japan continue. Seoul has controlled the rocky islets in the Sea of Japan since 1945 when Tokyo’s 35-year colonial rule over the Korean peninsula ended. Tokyo also claims the islands and accuses South Korea of occupying them illegally. The two nations are both market economies, democracies and US allies, and both are threatened by nuclear-armed North Korea.

Notes:
The researchers at the IIT-Hyderabad have derived collagen from discarded skin of eel (a snake like fish) by treating it with acetic acid, common salt and pepsin. It then combined the collagen with alginate hydrogel and used a 3D printing process to obtain scaffolds. They shown that tissue scaffolds built using such collagen allow growth and proliferation of stem cells. Thus, eel-skin derived collagen is a promising biomaterial for tissue engineering applications. The research was funded by the Central government’s Department of Science and Technology-Science and Engineering Research Board (DST-SERB) through the National Postdoctoral Fellowship Scheme (N-PDF). The practical applications of this research can lead to utilizing eel fish skin-derived collagen as a promising alternative to animal derived collagen, which are expensive and are associated with pathological diseases. Collagen is a protein found especially in the joints of humans and animals.

Notes:
The 4th edition of the Internet of Things (IoT) India Congress 2019 held in Bengaluru, Karnataka. The theme of Edition is ‘Mainstreaming the Internet of Things’. It is the India’s largest confluence of digital technology. The 2-day session focused on 10 tracks viz. Energy, Healthcare, Defence, Standards and Regulatory, Retail, Digital Communication, Skills and Development, Agriculture, Manufacturing and Smart Cities.

Notes:
The Ministry of Information and Broadcasting (I&B) is organizing the 7th ‘Community Radio Sammelan’ at Dr B R Ambedkar Bhawan in Delhi from Aug 27-29 with theme ‘Community Radio for SDGs’. The Sammelan’ will witness discussion on various flagship schemes of the government such as the Jal Shakti Abhiyaan and efforts for disaster risk reduction. Beside this, research, production, broadcasting, dissemination of social welfare messages through social media and content management for community radio stations will also be discussed. The ‘Sammelan’ will witness participation of all operational community radio stations across the country.

Notes:
Despite environmentalists warning of serious risks to the region, Russia has launched the world’s first floating nuclear reactor – Akademik Lomonosov – across the Arctic. It was loaded with nuclear fuel from the Arctic port of Murmansk to begin its 5,000km voyage to voyage to Pevek in northeastern Siberia. The reactor’s trip is expected to last between four and six weeks, depending on the weather conditions and the amount of ice on the way. The vessel weighs 21,000 tons and has two reactors with a capacity of 35 megawatts each, close to that of those used by nuclear icebreakers. It has a crew of 69 and travels at a speed of 3.5 to 4.5 knots. However, environmental groups have warned dangers of unprecedented project & dubbed it a potential “Chernobyl on ice” and a “nuclear Titanic”. Though, Russia claims the project will provide clean energy to the remote region and allow authorities to retire an ageing nuclear plant and a coal-burning power station.