Current Affairs Quiz - May, 2019

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:
On 30th April 2019, Market regulator Securities and Exchange Board of India (SEBI) barred the National Stock Exchange from raising money on the securities market directly or indirectly for six months on the collocation case. This means the NSE will not able to access the capital market in terms of IPO during this period. The regulator has also asked the exchange to disgorge around Rs 1,000 crore (i.e. Rs 624.89 crore plus 12% interest) from April 1, 2014 to the SEBI’s Investor Protection and Education Fund (IPEF). As per 104-page SEBI order, NSE has committed a fraudulent and unfair trade practice as contemplated under the SEBI (PFUTP) Regulations and has not exercised the requisite due diligence while putting in place the TBT architecture. Here, PFUTP refers to Prohibition of Fraudulent and Unfair Trade Practices rules. Tick-by-Tick (TBT) is a data feed that which provides information regarding every change in the order book on the NSE. The Co-location refers to the system wherein a broker’s server is kept in the exchange premises to reduce latency (or delay in computing terms) while executing trades.

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:
On the occasion of World Press Freedom Day (WPFD-2019), Vienna-based International Press Institute (IPI) said in its latest report that as many as 55 journalists have been killed since May 2018. Press freedom globally is under intense and growing pressure, as illiberal-minded governments seek to shut down critical voices and, in many cases, deliberately erode the credibility of independent media. According to a global network of journalists, Governments across the world are increasingly clamping down on press freedom as new laws are being enacted to curtail media independence. around the world. While on the one hand governments are attempting to curtail press freedom, on the other journalists around the world are being killed with impunity.

Notes:
In a major diplomatic victory for India, Jaish-e-Mohammad chief Masood Azhar was listed as a designated terrorist by the UN Security Council 1267 Committee on 1st May 2019 after China lifted its block on the move. The move will lead to sanctions on Azhar’s travel and his ability to secure finance for his group. Significantly, the reasons for listing did not mention the Pulwama attack of February 14, for which the JeM had claimed responsibility. The reasons for designating Azhar as a terrorist as per latest listing included his support for the JeM since its founding, being associated with the Al-Qaeda by recruiting for them and “participating in the financing, planning, facilitating, preparing, or perpetrating of acts or activities or supplying, selling or transferring arms and related material”. It also pointed to his role in recruiting fighters in Afghanistan. The JeM itself was sanctioned by the 1267 Committee in 2001. A UNSC designation will subject Azhar to an assets freeze, travel ban and an arms embargo. An assets freeze under the sanctions committee requires that all states freeze without delay the funds and other financial assets or economic resources of designated individuals and entities.

Notes:
In chess, the TePe Sigeman & Co International tournament has started in Malmo, Sweden on May 3. According to the World Chess Federation(FIDE), the tournament will have 8 players with an average rating of 2663, making it a Category 17 tournament. The field is led by the India No. 2 Grand Master Pentala Harikrishna. Harikrishna will open his campaign against Persson while Nihal Sarin is set to meet Saric in the opener. In it, 14-year old Indian Grandmaster Nihal is training his sight to become the youngest Indian to break the 2600 rating barrier from this event. Nihal goes into the tournament with a live rating of 2598. He hopes to break the Indian record set by Parimarjan Negi almost a decade back in 2009.

Notes:
Common Service Centre’s (CSC) e-Governance Services India Limited has tied up with Indian Institute of Technology (IIT)-Kanpur to upscale ‘Unnat Bharat Abhiyan’, which is an initiative of the Ministry of HRD. It aims to find solutions to accelerate sustainable growth in rural India. Under the Unnat Bharat Abhiyan, IIT-Kanpur has brought together 15 leading higher education institutions from Uttar Pradesh. These institutions have agreed to work with CSC for the development of villages under the scheme. IIT Kanpur has adopted five villages — Hridayapur, Baikanthpur, Ishwariganj, Pratappur Hari and Saxupurva — situated on the outskirts of Kanpur for its overall development. The e-Governance Services India is a special purpose vehicle under the Ministry of Electronics & IT.

Notes:
The fourth of Indian Navy’s stealth Scorpene class Submarines of Project 75, INS Vela has recently launched for trials at the Kanhoji Angre Wet Basin of Mazagon Dock Limited (MDL) in Mumbai. The submarines are being built at Mazagon Dock Limited, with the main collaborator being M/s Naval group, France. The INS Vela is the 4th of the six Scorpene submarines that has completed its out fittings at MDL. The Scorpene-class submarine in the Indian Navy has been termed as the Kalvari-class. In 2005, a contract was signed between French DCNS (now Naval Group) and MDL under Indian Navy’s Project-75 for the supply of six submarines. Of the six submarines, INS Kalvari was commissioned in December 2018 while INS Khanderi and INS Karanj are are in advanced stages to join the Navy fleet. The remaining two — INS Vagir and INS Vagsheer are in the in the “advanced stages of manufacturing” at the Mazagon Dock. The contract is expected to be completed by 2020. The Kalvari class is a class of diesel-electric attack submarines based on the Scorpene-class submarine being built for the Indian Navy.

Notes:
Frontline missile destroyer of the Indian Navy ‘INS Ranjit’ has recently decommissioned at a solemn ceremony at the Naval Dockyard in Visakhapatnam, after serving the Indian navy for 36 years. INS Ranjit is the third of the five Kashin-class destroyers built by the erstwhile USSR and was commissioned on September 15 1983 by Captain Vishnu Bhagwat . Since being commissioned, INS Ranjit has sailed for 2,190 days, covering over 7,43,000 nautical miles, equivalent to navigating around the world 35 times and 3.5 times the distance from the earth to the moon. The ship was at the forefront of major naval operations and served on both the Eastern and Western seaboards. Apart from naval operations like ‘Op Talwar’ and various multinational exercises, the ship participated in relief operations post Tsunami in 2004 and Hud-hud on 2014. In recognition of the service rendered by INS Ranjit to the nation, the ship was awarded Unit Citations by the Chief of Naval Staff in 2003-04 and in 2009-10.

Notes:
Justice PR Ramachandra Menon has been sworn-in as the new Chief Justice of the Chhattisgarh High Court. Governor Anandiben Patel administered him the oath of office and secrecy at a function at Raj Bhawan. Earlier, Menon was a judge in the Kerala High Court. As per article 217 of constitution, the Chief Justice of a High Court is appointed by the President with the consultation of the Chief Justice of the Supreme Court and the Governor of the State. The other judges are appointed by the will of President, Governor and the Chief Justice of High Court.