Current Affairs Quiz - August, 2019

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:
India will host the Conference Of Parties (COP 14) of the United Nations Convention to Combat Desertification (UNCCD) from 2nd to 13th of September 2019 at the India Mart and Expo in the Greater Noida area of New Delhi. The event will see participation of over 3000 representatives from over 200 countries which will include Ministers from around 100 countries. The focus of the conference will be on desertification and degradation of land.

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.

Notes:
Wing Commander Shalija Dhami has scripted history by becoming India’s first female officer of the Indian Air Force (IAF) to become the Flight Commander of a flying unit. She took over as flight commander of a Chetak helicopter unit at Hindon airbase in Ghaziabad, Uttar Pradesh. Chetak is a single engine turbo shaft, light utility helicopter with capacity of 6 passengers and has maximum speed of 220 km/hour. Flight Commander is the second in command of the unit. The helicopter is suitable for commuting, cargo / material transport, casualty evacuation, Search & Rescue (SAR), Aerial Survey & MAybePatrolling, Emergency Medical Services, Off-shore operations and Under slung operations.

Notes:
Eric Cantona, the former Manchester United forward and France legend , has been awarded the UEFA President’s Award in Monaco in recognition of his playing career and commitment to charitable causes after it. Cantona won four Premier League titles in five years with United in the 1990s and scored 64 goals for the Old Trafford club in 143 appearances.

Notes:
Union Human Resource Development Minister Ramesh Pokhriyal Nishank has recently launched a school education portal ‘Shagun’, which links over 15 lakh schools across the country to provide all the information on school education. The schools have been geo-tagged and all the data provided by them can be accessed through this portal. According to HRD officials, there would also be a third-party verification of the information provided by schools. Through this initiative, more than 2.3 lakh educational websites can be integrated.

Notes:
In a bid to protect forests, the Government of India (GoI) has given approval to establish an International Standard Zoo and Biopark on the forest land at Gorewada, Nagpur. The Zoo will have attractions like Bio Park, Indian Safari, African Safari, Night Safari, Research, Education and Training, facilities for tourists, etc. The Government of Maharashtra has accorded permission for establishing the International Zoo, through Forest Development Corporation of Maharashtra Limited (FDCM. Ltd.), Nagpur. The tasks of protection of forests and wildlife at the Gorewada forests and wildlife habitat development have been assigned to FDCM Ltd., for which State Forest Department is providing grants and manpower at the disposal of FDCM Ltd.

Notes:
On 30th August, the 2019 edition of Malayala Manorama New Conclave was held in Kochi. It is the Kerala’s first and only news conclave deals with the most contemporary and compelling theme―New India; New government; New aspirations; New challenges; New frontiers; New avenues. Prime Minister Narendra Modi inaugurated the conclave via video-conference from New Delhi. During the conclave, discussions were held on varied topics like new Indian nationalist, politics, new boundaries of belief, youth, and opportunities for Kerala. On this occasion, Shashi Tharoor launched a language challenge on twitter – #LanguageChallenge – to help people learn one word each from languages other than their mother tongue. The initiative began after Prime Minister Narendra Modi urged the media to unite India with the help of language.

Notes:
The National Lab Directory (NLD) has been launched by the Union Minister of Consumer Affairs, Food and Public Distribution, Ram Vilas Paswan. The NLD is a one-stop-shop for all testing needs of the industries, academia, researchers and other stakeholders who need to get their Testing Facilities accredited / certified / recognized. Presently, the NLD encompasses the labs accredited by National Accreditation Board for Testing and Calibration Laboratories (NABL), Bureau of Indian Standards (BIS) and Hallmarking Labs. Now, the labs which are recognized / notified by FASAI, APEDA, EIC, can also be indicated accordingly. The NDL will benefit all stakeholders such as manufacturers, consumers, regulatory agencies, government and research institutions in identifying the test facilities that are required for assessing conformity of relevant products or in testing for the purpose of research and development.