Current Affairs Quiz - January, 2019

Notes:
The insolvency regulator Insolvency and Bankruptcy Board of India (IBBI) has set up a 11-member working group under the Chairmanship of former SEBI chief UK Sinha to go into the concept of ‘Group Insolvency’ and suggest a suitable framework. This Working Group has been tasked to submit a report — within two months and will recommend a complete regulatory framework to facilitate insolvency resolution and liquidation of corporate debtors in a corporate group within the Insolvency and Bankruptcy Code (IBC). At present, the IBC provides for the resolution or liquidation of only individual stressed companies. So a framework within the IBC is sought to be created for the resolution/liquidation of an entire stressed corporate group having several entities in multiple NCLT jurisdictions.

Notes:
The International Cricket Council (ICC) has recently announced the men’s Test and ODI teams of the year 2018. Three players, each from India and New Zealand, were named in Test team while four players, each from India and England, were named in ODI squad. Virat Kohli has been named captain of both sides following a remarkable 2018 as batsman and skipper. The Test team also features his compatriots, wicketkeeper Rishabh Pant and fast bowler Jasprit Bumrah, who is the only player apart from Kohli to feature in both sides. The ODI team has opener Rohit Sharma, spinner Kuldeep Yadav and Bumrah from India side. The awards, which honour performances during a calendar year, saw the India captain Kohli walk into both sides which were selected by the ICC Voting Academy comprising former players, members of the media and broadcasters. In the last calender year, skipper Kohli scored more than 2,500 runs in both formats of the game combined with 11 centuries. Kohli also ended 2018 as the top-ranked Test and ODI batsman in the ICC Player Rankings while his side finished the year as the top-ranked side in Tests and number two in ODIs, behind England.

Notes:
India Steel 2019 Exhibition and Conference has started in Mumbai on January 23. The three-day event organised by Ministry of Steel will help chart out the future growth path of the steel industry. The event will provide an opportunity for all the stakeholders to deliberate and identify ways to contribute towards building a robust roadmap for the further growth of the steel sector. Over 250 exhibiting companies from 15 countries, over 200 International buyers and large number of delegates are expected to hold business meetings during this event. More than 10 thousand business visitors both from India and abroad are expected to visit.

Notes:
On 23rd January, Prime Minister Narendra Modi inaugurated the Subhash Chandra Bose museum at the iconic Red Fort in New Delhi to mark the leader’s 122nd birth anniversary. The Museum on Netaji Subhash Chandra Bose and Indian National Army provides a detailed account of Subhash Chandra Bose and the history of Indian National Army (INA). It also showcases various artefacts related to Subhash Chandra Bose and INA. The artefacts include wooden chair and sword used by Netaji, medals, badges, uniforms and other artefacts related to INA. Beside this, Prime Minister also inaugurated the Yaad-e-Jallian Museum on the Jallianwala Bagh and World War I, the Museum on 1857- India’s first war of Independence and Drishyakala-Museum on Indian Art within the Red Fort complex.

Notes:
India has been ranked 80th at the Global Talent Competitive Index (GTCI) 2019, according to a report released by INSEAD business school in partnership with Tata Communications and Adecco Group. It was released during the World Economic Forum (WEF) Annual Meeting in Davos on 22nd January 2019. The list is topped by Switzerland, followed by Singapore, the US, Norway and Denmark. According to the report, India’s biggest challenge is to improve its ability to attract and retain talent. Above all, there is a need to address its poor level of Internal Openness (116th) — in particular with respect to weak gender equality and low tolerance towards minorities and immigrants and its disappointing showing in lifestyle (112th) indicators. The survey measures how countries and cities grow, attract and retain talent, ranking 125 countries and 114 cities across all groups of income and levels of development.

Notes:
The first-ever UN’s International Day of Education is observed on January 24 to highlight the role of education for peace and development. Education is a human right, a public good and a public responsibility. The day recognizes the importance of ensuring inclusive quality education & access to lifelong learning opportunities for all. The right to education is enshrined in article 26 of the Universal Declaration of Human Rights. Today, 262 million children and youth still do not attend school; 617 million children and adolescents cannot read and do basic math; less than 40% of girls in sub-Saharan Africa complete lower secondary school and some four million children and youth refugees are out of school. Their right to education is being violated and it is unacceptable. Hence, UNESCO calls on governments and all partners to make universal quality education a leading priority. In India, National Education Day (NED) is observed on November 11 to commemorate the birth anniversary of the first education minister of independent India — Maulana Abul Kalam Azad.

Notes:
Krishna Sobti (94), the famous Hindi fiction writer and essayist, has passed away in New Delhi on January 25, 2019. She had won the Sahitya Akademi Award in 1980 for her novel Zindaginama and was awarded the Jnanpith in 2017 for her contribution to Indian literature. Sobti is best known for her 1966 novel Mitro Marajani, an unapologetic portrayal of a married woman’s sexuality. Some of her notable works are as follows: Daar Se Bichchuri, Surajmukhi Andhere Ke, Yaaron Ke Yaar, Zindaginama. Some of her well-known short stories are Nafisa, Sikka Badal gaya, Badalom ke ghere.

Notes:
IIT Ropar has launched an android app ‘Roshni’ to help the blind in recognizing the denomination of the currency notes, using image processing and analytics. At present, notes of Rs 10, 20, 50, 100, 200, 500 and 2,000 are in circulation, which the blind people find it difficult to recognize due to their size and the tactile marks. The app can recognize both old and new notes and gives audio information as to which note you are holding in your hands. The user has to bring the currency note in front of phone camera and the app would provide audio notification intimating the currency notes denomination to the user. The app uses the patterns and features embedded on the notes to differentiate and determine the currency denomination. The app is developed by assistant professor Dr Puneet Goyal and his students — Mandhatya Singh, Joohi Chauhan, and R Ram.

Notes:
The Union cabinet has approved the landmark amendment to Article 280 of the Constitution to increase the financial and executive powers of the 10 autonomous councils in the Sixth Schedule areas of the Northeast Region (NER). The amendment would impact a population of about 1 crore tribals living in Assam, Meghalaya, Tripura and Mizoram. The Finance Commission would be mandated to recommend devolution of financial resources to the councils. Till now, the autonomous councils have depended on grants from Central Ministries and the State governments for specific projects. As per the proposed amendment, there will be State Election Commissions (SECs) for holding elections to the autonomous councils, village and municipal councils in the areas of Assam, Mizoram and Tripura. At least one third of the seats would be reserved for women in the village and municipal councils in the Sixth Schedule areas of Assam, Mizoram and Tripura. Here, Meghalaya has for the time being opted out of the provision for elected village and municipal councils and one-third reservation for women.

Notes:
ISRO has successfully launched a military satellite ‘Microsat-R’ and a student satellite ‘Kalamsat-V2’ into their designated orbits from PSLV-C44 launch vehicle. The launch was the 46th flight of the PSLV which lifted off from Satish Dhawan Space Centre (SDSC) in Sriharikota, Andhra Pradesh. PSLV-C44 is the first flight of PSLV-DL, a new variant of PSLV with two strap-on motors. With this launch, India also becomes the first country to use the fourth stage of a space rocket as an orbital platform for microgravity experiments. The PSLV is a four-stage launch vehicle with alternating solid and liquid stages.