Current Affairs Quiz - June, 2019

Notes:
Prime Minister Narendra Modi has recently reconstituted the federal policy think-tank National Institution of Transforming India (NITI) Aayog by introducing key Cabinet ministers as members as ex-officio members. Defence minister Rajnath Singh, Home minister Amit Shah, Finance minister Nirmala Sitharaman and Agriculture minister Narendra Singh Tomar are now ex-officio members of the think tank that is headed by Mr. Modi. Rajiv Kumar will continue to be the vice-chairperson, along with full time members—Ramesh Chand, VK Saraswat and VK Paul.On 15th June 2019, Prime Minister will chair the 5th meeting of NITI Aayog’s Governing Council to discuss various issues concerning water management, agriculture and security. The council includes all chief ministers, lieutenant governors of union territories, several union ministers and senior government officials. This will be the first governing council meeting under the new Modi government. NITI Aayog was constituted via a resolution of the Union Cabinet on 1st January 2015 & replaced the erstwhile planning commission.

Notes:
The Sinai Peninsula is a peninsula in Egypt, and the only part of the country located in Asia. It is situated between the Mediterranean Sea to the north and the Red Sea to the south, and is a land bridge between Asia and Africa. Recently, it is in news because the Egyptian security forces has killed 14 suspected militants during a raid carried out in the restive Sinai Peninsula in response to a deadly checkpoint attack. The Islamic State extremist group had claimed responsibility for attack in which 8 Egyptian police officers have been killed in a militant attack on a checkpoint in the northern Sinai peninsula. The attack took place west of the city of El-Arish, as local people celebrated the Islamic festival of Eid al-Fitr on 5th June 2019.

Notes:
Former President Jimmy Carter will be bestowed with the George H. W. Bush Award for Statesmanship for his contributions to relations between the U.S. and China. A private award ceremony is scheduled June 12 at the Carter Center in Atlanta. The George H. W. Bush Foundation has said that the award goes to people who have made profound contributions to the development of constructive and mutually beneficial relations” between the U.S and the People’s Republic of China (PRC).

Notes:
The Ministry of Information and Broadcasting (I&B) has instituted the first Antarashtriya Yoga Diwas Media Samman (AYDMS) for 2019 to mark the contribution of media in spreading the message of Yoga. The AYDMS will be conferred to print and electronic media houses. The contribution of the media in popularizing Yoga would be assessed by six juries. A total of 33 awards, under three categories, will be conferred. The award will comprise a special medal, plaque and trophy and a citation. The duration of the coverage for AYDMS would be from June 10 to June 25. Yoga has been universally acknowledged by the United Nations (UN) and is now practiced globally around 200 countries on June 21 every year.

Notes:
Karnataka Chief Minister H.D. Kumaraswamy has recently launched the ‘Pink Sarathi’ vehicles to attend to the complaints of women passengers travelling in city buses. The vehicles are procured by the Bangalore Metropolitan Transport Corporation (BMTC) under the ‘Nirbhaya’ scheme. The corporation had received Rs 56.07 crore from the Union government under the scheme and had taken up various measures for the safety of women passengers, including the launch of Pink Sarathi vehicles.

Notes:
After linking its short-term loans and large savings deposits rates to the repo rate, the State Bank of India (SBI) has decided to introduce a repo rate-linked home loan product from July 1. The home loans under this product will be priced at 2.65% over the repo rate of 5.75%. So, the home loan interest rate will work out to 8.40%. Currently, SBI offers home loans, which are linked to its marginal cost of funds, at 8.55%. The lender has also reduced the interest rate on cash credit /overdraft customers (limits above Rs1 lakh) after RBI cut its repo rate from 6% to 5.75%. Now the effective Repo-Linked Lending Rate (RLLR) for CC/OD customers is 8%. Repo rate is the key interest rate at which commercial banks borrow short-term funds from the Reserve Bank of India (RBI).

Notes:
India’s first dinosaur museum and fossil park has recently inaugurated by Gujarat Chief Minister Vijay Rupani at Raiyoli village near Balasinor town of Mahisagar district. The new museum will create a prehistoric-like era environment when dinosaurs might have roamed around freely in Raiyoli. As many as 50 sculptures of dinosaurs, including a life-size one of Rajasaurus Narmadensis that was found in Gujarat, have been erected at the museum. The museum would have 3D projection, 360 degrees virtual reality presentations, interactive kiosks, gaming consoles and other facilities. According to government officials, Raiyoli is globally known to be the third largest fossil site and the second largest dinosaur hatchery from where about 10,000 dinosaur eggs have been found.

Notes:
Virendra Kumar, the BJP MP from Madhya Pradesh, will be the pro-tem speaker of the 17th Lok Sabha. Kumar is a 7-term member of Parliament and won the Lok Sabha polls from Tikamgarh. As pro-tem speaker, he will preside over the first sitting of the Lok Sabha and administer the oath of office to the newly elected MPs. The first session of the newly-constituted 17th Lok Sabha will be held from June 17 to July 26. As pro-tem speaker, Kumar will also oversee the election of the Lok Sabha speaker.

Notes:
The Sashakt Committee, headed by PNB non-executive chairman Sunil Mehta, has recommended changes in existing Inter-Creditor Agreement (ICA) to incorporate revised voting threshold and other changes for decision making stipulated by the Reserve Bank of India (RBI). It will enable expeditious implementation of the new framework on stressed assets. Under the RBI’s new framework, it is a mandatory requirement for lenders to enter into an Inter-Creditor Agreement (ICA) during the review of the borrower account within 30 days from date of first default to any lender. The New Framework further lays down some parameters to be included in the Inter-Creditor Agreement including decision-making by lenders holding 75% (by value of total outstanding facilities) and 60% by number and protection of dissenting lenders. The Inter-Creditor Agreement is required to be executed by all lenders covered under the New Framework and asset reconstruction companies. The New Framework applies to all banks, term financial institutions, small finance banks, systemically important non-deposit taking non-banking finance companies (NBFCs) as well as deposit taking NBFCs.

Notes:
A team of scientists from Delhi University (DU) and the Wildlife Institute of India (WII), in collaboration with researchers from Indonesia and the US, have discovered a new species of ‘paddy frog’ from Northeast India, primarily Assam. The frog belongs to the microhylid genus Micryletta. It is a group of narrow-mouthed frogs that is primarily and widely distributed in Southeast Asia. Currently, there are only four recognized species in this group. The newly discovered Micryletta frog from Northeast India was confirmed as a new species by detailed comparison of both DNA and morphology with all previously known members across Southeast and East Asia. The new species has been named ‘aishani’, derived from the Sanskrit word ‘aishani’ or aisani (meaning North – east), referring to the Northeast regions of India where this frog was discovered. The frog has reddish-brown coloration on the back, prominent dark streaks and ash-grey mottling on the lateral sides, shape of snout and no web on its feet.