Current Affairs Quiz - June, 2019

Notes:
Conservative businessman Nayib Bukele has been sworn-in as the new President of El Salvador. His presidency breaks three decades of bipartisanship between the conservative Nationalist Republican Alliance (ARENA) and the outgoing Farabundo Marti National Liberation Front (FMLN). Hence, Bukele is the first candidate to win the presidency since the end of the Salvadoran Civil War who did not represent either of the major two parties.

Notes:
In Bangkok , the 2019 edition of Quadrilateral Security Dialogue (Quad) was attended by senior officials of India, US, Japan and Australia to hold consultations on their collective efforts for a free, open and inclusive Indo-Pacific region and to reaffirm their shared commitment to preserving and promoting the rules-based order in the region. The four countries underscored their intent to continue regular consultations on Indo-Pacific engagement and initiatives together and with other interested countries and institutions. The consultations were part of the Quad an informal strategic grouping consisting of India, US, Australia and Japan. China has been trying to expand its military presence in the Indo-Pacific which is a biogeographic region. China claims almost all of the South China Sea whereas Vietnam, Philippines, Malaysia, Brunei and Taiwan have also counter claims over it.

Notes:
The Indian Army and Indian Air Force (IAF) has jointly carried out a week-long special training exercise “Kharga Prahar-2019” in the plains of Punjab. The exercise, which began on May 27, was undertaken by various units and formations of Army’s Kharga Corps. The exercise setting also incorporated aspects of joint training wherein para drops from Indian Air Force (IAF) aircraft were carried out and simulated battlefield air strikes were conducted in support of ground forces. Ambala-based 2-Corpa, popularly called as Kharga Corps, possesses 50% of the Indian Army’s offensive capabilities and has the mandate to launch offensive attack, in case any conflict or war breaks out with neighbouring Pak. Integrated with multiple military formations, Kharga has proved an effective weapon in various wars. In 1971, while positioned in West, it helped in division of Pakistan. The elite force was deployed somewhere in the desert sector during the Kargil conflict. The Kharga Corps has been stationed at Ambala since 1985.

Notes:
Dinyar Contractor (79), the veteran actor and theatre legend, has passed away in Mumbai, Maharashtra on June 5, 2019. He was best known for his comic roles in films and was awarded a Padma Shri in 2019. He was appeared in many Bollywood films like Chori Chori Chupke Chupke, Khiladi, Badshah, Daraar and 36 China Town. He was also part of many TV shows such as Khichdi and Taarak Mehta Ka Ooltah Chashmah.

Notes:
Tijjani Muhammad-Bande, Nigeria’s Ambassador to UN, has been elected as President of the 74th session of the UN General Assembly (UNGA). In accordance with the rules, the President of the 74th session of the General Assembly should be elected from among the African States. Muhammad-Bande was elected by acclamation and he will succeed Ecuador’s Maria Fernanda Espinosa in September 2019. He assumes charge as the world body gets ready to celebrate the 75th anniversary of its creation next year.

Notes:
The World Environment Day (WED) is observed every year on 5st of June to raise awareness of the environment and specific environmental issues. The theme for 2019 “Beat Air Pollution” is a call to action call to combat this global crisis. To celebrate the 2019 WED, the Union Ministry of Environment, Forest & Climate Change (MoEFCC) of India has launched the song ‘Hawa Aane De’ to spread awareness about Air pollution. The theme song is written by Swanand Kirkire and sung by Shantanu Mukherjee, Kapil Sharma, Sunidhi Chauhan and Shankar Mahadevan. On this Day, the Union Environment Minister Prakash Javadekar has launched #SelfiewithSapling campaign to promote awareness about environmental protection. Mr. Javadekar also urged people to plant a sapling and post a selfie with it on the social media.

Notes:
On June 6, the 6-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) has reduced the repo rate by 25 basis points to 5.75% from 6.0% with immediate effect in its 2nd bi-monthly monetary policy statement for 2019-20. Repo rate is the interest rate at which the central bank provides liquidity to banks to overcome short-term liquidity mismatches. A repo rate cut allows banks to reduce interest rates for consumers on loans, and lowers equal monthly installments on home loans, car loans and personal loans. Consequently, the reverse repo rate stands adjusted to 5.50%, and the Marginal Standing Facility (MSF) rate and the Bank Rate to 6.0%. Beside this, RBI has also unanimously decided to change the stance of monetary policy from neutral to accommodative. The next meeting of the MPC is scheduled during August 5 to 7.

Notes:
Finance Minister Nirmala Sitharaman will attend the two-day meeting of G-20 Finance Ministers and Central Bank governors in Japan on June 8 and 9. This will be the first overseas visit of Ms. Sitharaman as Finance Minister. Besides Ms. Sitharaman, RBI Governor Shaktikanta Das is also likely to attend the meeting at Fukuoka in Japan. Among other things, the meeting is likely to focus on risks and challenges being faced by the global economy, investment in infrastructure and international taxation. G-20, which is a group of developing and developed nations, includes India, the U.S., the U.K., China, Russia, Saudi Arabia, Brazil, France and Australia. The G20 meetings, convened annually since 1999, provide a forum for key countries in the international financial system to discuss major international economic issues and to coordinate to achieve the stable and sustainable growth of the global economy.

Notes:
India has notified a Tax Information Exchange Agreement (TIEA) with the Marshall Islands, which enables a bilateral sharing of banking & ownership information and allows officials of one country to undertake tax examinations in the other. The TIEA for exchange of information with respect to taxes was signed on March 18, 2016 at Majuro, the Capital of the Marshall Islands. India notified the TIEA on May 21, 2019. The TIEA is based on international standards of tax transparency and exchange of information and enables sharing of information on request. The agreement will enhance mutual cooperation between India and the Marshall Islands by providing an effective framework for exchange of information on tax matters which will help curb tax evasion and tax avoidance. The Marshall Islands are a sprawling chain of volcanic islands and coral atolls in the Pacific Ocean, between Hawaii and the Philippines.

Notes:
The Indian Air Force (IAF) has recently signed a deal worth around Rs 300 crore for buying more than 100 SPICE bombs from Israel. The IAF fighter jets used these bombs to target Jaish-e-Mohammed training camps in Pakistan’s Balakot on 26th February 2019 after the ghastly Pulwama terror attack in which over 44 CRPF jawans lost their lives after a suicide bomber rammed his explosives-laden SUV into the convoy which was passing from the area. As per the contract, the advanced SPICE bombs would be delivered to the Air Force in the next 3 months as the deal is under emergency powers. SPICE bomb has a standoff range of 60 km and approaches the target as its unique scene-matching algorithm compares the electro-optical image received in real-time via the weapon seeker with mission reference data stored in the weapon computer memory and adjusts the flight path accordingly. Israeli defence firm Rafael Advanced Defence Systems manufactures the weapon.