Current Affairs Quiz - June, 2019

Notes:
The Securities and Exchange Board of India (SEBI) has constituted a working group, headed by NSE Clearing Ltd., to review the current framework of margins in the futures and options segment. The group will look into the issue and submit its recommendations to the Secondary Market Advisory Committee. This assumes significance as lower cost of trading was primarily the reason why institutional investors preferred to trade in Nifty contracts on SGX at Singapore rather than on the highly liquid derivatives segment of the National Stock Exchange (NSE). Incidentally, a recent study jointly conducted by Association of National Exchanges Members of India (ANMI) and consultancy firm Ernst & Young (EY) highlighted the fact that trading in derivatives in India costs much more when compared with most of the other leading markets due to a variety of margins that are imposed on the traders.

Notes:
In Boxing, Indian team has been adjudged the best team of the tournament in the Black Forest Cup in Villingen, Schwenningen, Germany. In the tournament, the Indian junior women pugilists clinched 7 medals, including five gold. Haryana’s Neha (54kg) and Karnataka’s Anju Devi (50kg) claimed the honours of best boxer and promising player of the tournament. Ten countries including India, Ukraine, Germany, Kazakhstan, Latvia, Hungary, Lithuania, Mongolia, Greece, and Poland took part in this tournament. India’s powerful performances helped the contingent win the best team trophy.

Notes:
On June 23, the International Olympic Committee (IOC) has formally opened its new headquarters in Lausanne, Switzerland, exactly 125 years after the Olympic Games were revived. The new headquarters costs 145 million Swiss francs ($145 million). The Olympic House has been built on the site of the former headquarters, and 95% of the old materials were reused and recycled. The signature feature is a central staircase linking together the five Olympic rings. Designed by architecture firm 3XN of Denmark, the energy-efficient building has won international awards for sustainability. Renewable energy is provided using solar panels on the roof and pumps taking water from Lake Geneva. It also brings around 500 IOC employees under one roof.

Notes:
Hemant Pandey, a senior DRDO scientist, has developed a herbal drug – Lukoskin – to treat leucoderma, a condition in which white patches develop on the skin. The auto-immune condition, also called ‘vitiligo’, can be life-altering. Vitiligo is neither contagious nor life-threatening. Worldwide, the incidence of leucoderma is 1-2% of the population. In India, its incidence is around 4-5% in some parts of Rajasthan. In Gujarat, it is very high at more than 5-8%. This skin disorder is considered a social stigma in India where people confuse it with leprosy. Recently, the Modi government also conferred Pandey with the prestigious ‘Science Award’ for developing ‘Lukoskin’ to treat the skin condition. Lukoskin is manufactured and marketed by Delhi-based AIMIL Pharma Ltd. It is available as an ointment and oral liquid. A more developed version is likely to hit the market soon.

Notes:
Mohan Ranade (89), the veteran freedom fighter from Goa and Padmashri Mohan Ranade, has passed away in Pune on June 25, 2019. Born in 1929 at Sangli in Western Maharashtra, Ranade was inspired by freedom fighters like Vinayak Damodar Savarkar and his brother Ganesh Damodar Savarkar. He was a member of the Azad Gomantak Dal, a group of revolutionaries who believed in the doctrine of armed attacks against the Portuguese colonial rule. During Goa’s liberation movement, Ranade was active in attacking police stations at Betim, Banastarim and other outposts. He was arrested by Portuguese police in 1955 and was imprisoned at the Fort of Caxias near Lisbon in Portugal. He was kept in solitary confinement for six years. Ranade was released from prison in January 1969, after the liberation of Goa in 1961, having served 14 years. He received the Goa Puraskar in 1986 for social work. He authored books on the Goa liberation movement.

Notes:
The Imphal Peace Museum (IPM) has been gifted by Japan to Manipur to commemorate the 75th anniversary of the Battle of Imphal, which was one of the fiercest battles of the Second World War. The museum was inaugurated at Maibam Lokpa Ching popularly known as Red Hill. Around 70,000 Japanese soldiers, alongside those of Subhash Chandra Bose’s Indian National Army (INA), died in battles with the British-led Allied forces in areas around Imphal and Kohima from March to June 1944. The last of these battles was fought at Red Hill, where the Japanese War Memorial was built in 1944 to mark the 50th anniversary of the battle. The museum symbolizes the reconciliation between Japan & Britain and Japan & India. It is to reinforce the message that history changes and makes us learn from the past.

Notes:
Under the flagship Sagarmala Programme, the Union Ministry of Shipping has recently signed a Memorandum of Agreement (MoA) with IIT Kharagpur for setting up the Centre for Inland and Coastal Maritime Technology (CICMT) at IIT Kharagpur. The first-of-its-kind Centre will focus on ship design for coastal/inland waterways, shipbuilding technology and structural design, transport systems & logistics, cryogenic cargo handling, green/renewable energy harvesting from coastal and inland waters and automation and artificial intelligence (AI) for maritime operations. It will provide technological support, research, testing and experimentation facility to agencies involved in inland water transport, shipbuilding, ports. etc. Presently, only Germany, the Netherlands, Russia and Belgium have model testing facilities for ships.

Notes:
The Union Government has constituted an 18-member working group for the revision of the current series of Wholesale Price Index (WPI) under Chairmanship of Prof. Ramesh Chand, Member of NITI Aayog. The revision of the base year would help in presenting a more realistic picture of the price situation and its impact on people. The Office of Economic Adviser, Department for Promotion of Industry and Internal Trade will be the nodal office for the Working Group and will process the report and recommendation of the Group for further necessary action. The current series of WPI with 2011-12 as the base year was introduced in May 2017. Since 2011-12, significant structural changes have taken place in the economy. Therefore, it has become necessary to examine the coverage of commodities, weighting diagram and related issues pertaining to the existing series of index numbers of Wholesale Price Index. The Terms of Reference of the Working Group include deciding on the computational methodology to be adopted for monthly WPI and Producer Price Index (PPI) and reviewing the existing system of price collection in particular for the manufacturing sector and suggest changes for improvement.

Notes:
Vijaya Nirmala (75), the veteran actress and filmmaker , has passed away in Hyderabad on June 27, 2019. Born on 20th February 1946, Nirmala made her acting debut in 1950 as a child artiste in the Tamil movie ‘Machcha Rekhai’. She holds a record in the Guinness Book of World Records for being the first woman to direct as many as 47 films in different languages. She was also feted with the Raghupathi Venkaiah Award in 2008 for her contributions to Telugu cinema. She featured in over 200 films in Telugu, Tamil and Malayalam.

Notes:
Samant Kumar Goel, a 1984 batch IPS officer from Punjab cadre, has been appointed as the new of the Research & Analysis Wing (RAW). He succeeded Anil Dhasmana. He is said to have been involved in the planning of the Balakot air strike and played an important role in checking militancy in Punjab. Mr. Goel, a recipient of the Police Medals for Gallantry and Meritorious Service, joined the RAW in 2001. The Research and Analysis Wing (RAW) is the foreign intelligence agency of India. It was established in 1968 following the intelligence failures of the Sino-Indian War, which persuaded the Government of India (GoI) to create a specialised, independent agency dedicated to foreign intelligence gathering. The head of RAW is designated Secretary (R) in the Cabinet Secretariat, and is under the direct command of the Prime Minister, and reports on an administrative basis to the Cabinet Secretary of India, who reports to the Prime Minister. It is headquartered in New Delhi.