Current Affairs Quiz - May, 2019

Notes:
The International Dance Day (IDD) is observed every year on 29th of April to celebrate the birth anniversary of Jean-Georges Noverre (1727–1810), the creator of modern ballet. The day is a celebration day for those who can see the value and importance of the art form dance, and acts as a wake-up-call for governments, politicians and institutions which have not yet recognised its value to the people. It strives to encourage participation and education in dance through events and festivals held on the date all over the world.

Notes:
Beirut, the national capital of Lebanon, has set a new Guinness World Record for the number of national flags raised in a city for 24 hours. On 28th April 2019, a total of 26,852 Lebanese flags were raised & beat a record held by New York’s Waterloo since 2000. The event was organized by the Beirut Alive Association (BAA) under the patronage of Prime Minister Saad Hariri.

Notes:
The International Labour Day (ILD) is celebrated every year on 1st of May to honour the contribution of working men and women. The day aims to pay tribute to workers sacrifices in achieving economic and social rights all over the world. During industrialization at the beginning of the 19th Century, the industrialists used to exploit the labour class and made them work up to 15 hours a day. The workers rose against this exploitation and demanded paid leaves, proper wages and breaks for the workforce. Hence, the day marks the victory of the workers’ movement for eight hours of work. In India, the first Labour day or May Day was celebrated in 1923 in Chennai. The 2019 theme is – Sustainable Pension for all: The Role of Social Partners.

Notes:
The Bharat Heavy Electricals Ltd (BHEL) and Automotive Research Association of India (ARAI) have signed a MoU for cooperation on various projects related to e-mobility. BHEL’s unique strength as technology developer and implementer and ARAI’s advanced facilities and expertise in design, testing and certification of mobility products, will generate synergies in implementing solutions for Electric & Trolley Bus, EV Chargers, Battery & Charger testing, etc. The ARAI is an autonomous body affiliated to the Ministry of Heavy Industries and Public Enterprises (MoHI&PE). The objectives of the Association are Research and Development in automotive engineering for industry, product design and development, evaluation of automotive equipment and ancillaries, standardization, technical information services, execution of advanced courses on the application of modern technology and conduct of specific tests.

Notes:
The Pakistan Air Force (PAF) has decided to observe its retaliatory action on February 27 against the Indian air strikes on the Balakot terror camp as ‘Operation Swift Retort’. The tensions between India and Pakistan had escalated after the 14th February 2019 attack by a Pakistan-based Jaish-e-Mohammed (JeM) suicide bomber in Pulwama that killed 40 CRPF soldiers. 13 days later, the Indian Air Force (IAF) carried out a counter-terror operation, hitting what it said was a JeM training camp in Balakot, deep inside Pakistan on February 26. The next day, the PAF retaliated and downed a MiG-21 in aerial combat and captured IAF Wing Commander Abhinandan Varthaman, who was later released and handed over to the Indian side on March 1.

Notes:
The Generalized System of Preference (GSP) is the largest and oldest US trade preference programme and is designed to promote economic development by allowing duty-free entry for thousands of products from designated beneficiary countries. Recently, it is in news because a group of 25 influential American lawmakers has urged the US Trade Representative – Robert Lighthizer – not to terminate the GSP programme after the expiry of the 60-day notice on 3rd May 2019. They argued that terminating GSP for India would hurt American companies seeking to expand their exports to India. They also urged to continue negotiating a deal that protects and promotes jobs that rely on trade – both imports and exports – with India. President Donald Trump announced on March 4, the US intends to terminate India’s designations as a beneficiary developing country under the GSP programme.

Notes:
M Jayshree Vyas, a professionally-qualified chartered accountant, has been appointed as the first independent woman director of Bombay Stock Exchange (BSE). Though still late by at least a few weeks from the deadline of April 1 given to all top 500 listed companies based on their market capitalisation for appointing an independent woman director on their board. The delay happened as BSE was awaiting market regulator SEBI’s approval on the appointment. As of April 6, 51 of the top 500 NSE-listed companies by market capitalisation (including BSE) did not have independent woman director, according to nseinfobase.com run by Prime Database. In March alone, about 50 companies made a beeline to appoint an independent woman director. BSE already has two non-executive women directors namely Usha Sangwan and Rajeshree Sabnavis on its Board. The Companies Act of 2013 mandates a certain class of companies to have at least one woman director on board. SEBIs, in compliance with the Companies Act 2013, made it compulsory to have at least one woman on a board from October 2014.

Notes:
To commemorate the 150th birth anniversary of Mahatma Gandhi, the Office of the Principal Scientific Adviser (PSA) to the Government of India and IIT Delhi have signed an MoU to set up a Centre of Excellence for Waste to Wealth Technologies for implementation of sustainable, scientific and technological solutions for waste management, through validation and deployment of available technologies for transformation of waste to wealth. The waste to wealth mission project has been approved under the recently constituted Prime Minister’s Science Technology and Innovation Advisory Council (PM-STIAC). The partnership will provide an effective platform for stakeholders to bring together integrated approaches for effective recycle, reuse and resource recovery of waste.

Notes:
The State Bank of India (SBI) has become the first bank in the country to link its saving and loan interest rates to the Reserve Bank of India (RBI)’s repo rate. The move assumes significance as the effective interest rate from May 1 on savings deposit above Rs 1 lakh will come down to 3.25% from 3.5%. Though, the linking of short-term loans like overdraft and cash credit facility with limit of above Rs 1 lakh will now attract an interest rate close to 8.25%. Hence, the interest rates on large SBI savings account deposits and interest rate on some short-term loans will automatically change as and when RBI changes its repo rate. This will help in better transmission of RBI’s policy rates into the banking system.

Notes:
King Maha Vajiralongkorn has been crowned as the Rama X of Thailand in a dazzling show of pageantry on behalf of the Thai people. This marked the first ascension of a new monarch in seven decades. The key rituals of the elaborate 3-day coronation ceremony began at the Grand Palace in Bangkok on May 4, 2019. King Vajiralongkorn is the 10th monarch of the Chakri dynasty, which has reigned since 1782. The last coronation was held in 1950 for the king’s father Bhumibol Adulyadej. Thailand has been run by an arch-royalist junta since 2014. The monarchy takes primacy in the country but it is buttressed by the army. Thailand has a constitutional monarchy since 1932, but the royal family is highly revered by Thais and wields considerable power. Thailand also has strict laws, called lese majeste, which ban criticism of the monarchy. The laws have shielded the royal family from public view and scrutiny.