Current Affairs Quiz - May, 2019

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:
Journalist Nileena MS, a reporting fellow with The Caravan, has won the prestigious ACJ Award for Investigative Journalism in print/online category for the year 2018. She won the award for her story titled “Coalgate 2.0: The Adani Group reaps benefits worth thousands of crores of rupees as the coal scam continues under the Modi government”. Her investigative piece revealed how a joint venture between Rajasthan Rajya Vidyut Utpadan Nigam Limited and Adani Enterprises Limited continues to function on the basis of agreements that pre-date a landmark Supreme Court judgement from September 2014. The ACJ award comprises a trophy, citation and a cash prize of Rs 2 lakh. The award is given by the Asian College of Journalism with the support of the Media Development Foundation to recognise and encourage the best works of investigative journalism produced for Indian readers, viewers and audiences in order to promote journalism in the public interest.

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.

Notes:
The Volleyball Federation of India (VFI) has recently appointed Dragan Mihailovic (from Serbia) as head coach of the men’s national team in a move linked to the long term goal of Olympic Games qualification. The VFI also announced the appointment of Pryemyslaw Gaszyoski and Valadimir Radosevic as the team’s physio trainer and physiotherapist respectively. Besides the men’s national team, the trio will also look after the men’s U-23 team and other junior teams representing India. All the three have been appointed for 5 months and will work with the team for the Asian Championships scheduled to be held in Iran during September.

Notes:
In a significant victory, India’s Jagjit Pavadia has been re-elected to the International Narcotics Control Board (INCB) for a 5-year term beginning 2nd March, 2020. She posted the highest number of votes at 44. Ms Pavadia has been a member of the INCB since 2015 and her current term is set to expire in 2020. The victory added to India’s successful record of winning crucial elections at the UN and to the world organisation’s subsidiary bodies. Established in 1968, the INCB is an independent and quasi-judicial monitoring body for the implementation of the UN’s international drug control conventions. INCB consists of 13 members who are elected by the Economic and Social Council (ECOSOC) and who serve in their personal capacity.

Notes:
The researchers at the Tata Institute of Fundamental Research (TIFR) Mumbai have found a novel function for serotonin (a chemical that signals between neurons). The recent discovery establishes that serotonin is involved in the generation of new mitochondria (the powerhouse of the cell) in neurons, increased cellular respiration and fuel (ATP) in the cell. The chemical can impact the manner in which neurons grapple with stress and affect the trajectory of ageing. Neuronal loss is a major cause of neurodegenerative diseases such as in Alzheimer’s and Parkinson’s. Abnormal mitochondrial functions are known to cause or contribute to neuronal death. Hence, the new findings from TIFR raise the possibility that serotonin signalling could be used to prevent mitochondrial abnormalities and neuronal loss. Serotonin’s newly indentified function has been studied in mice and rats. If it found to be true in humans, it may have important medical implications. The results of the study were published in the journal Proceedings of the National Academy of Sciences (PNAS). The chemical name of serotonin is 5-hydroxytryptamine (5-HT).

Notes:
The 6-day Brahmakalashothsava festival is celebrated in the ancient Chandkuru Sri Durga Parameshwari Temple annually in Polali, Dakshina Kannada district in Karnataka. The presiding deity of the temple, which has a history of nearly 1,700 years, is Shri Rajarajeshwari. The highlight of this temple is its mud idols and this is probably the only idol of this size (about 9ft height) in Karnataka. Other than the presiding deity Rajarajeshwari – two other idols Bhadrakali on the left (may be bigger than the presiding deity in height) and Lord Subrahmanya and Ganesha are on the right hand side. It is in news recently because several Dalits and OBCs from Chandkuru and surrounding villages in Belthangady taluk boycotted festival in a centuries-old temple due to separate seating arrangement had been made for people of the upper caste.

Notes:
Justice (Retd.) K S Radhakrishnan has been appointed as a member of the Commonwealth Secretariat Arbitral Tribunal in London. He will render his services as a member of the Tribunal for a period of four years from 1st of June, 2019 to 31st of May, 2023. Justice Radhakrishnan served as the Chief Justice of the Gujarat and Jammu & Kashmir High Courts before his term in Supreme Court from 2009-2014.

Notes:
Bajaj Auto Executive Director Rakesh Sharma has been elected as Vice-President of Geneva-based International Motorcycle Manufacturers Association (IMMA) at Yogyakarta, Indonesia. Sharma is a representative of the Society of Indian Automobile Manufacturers (SIAM). IMMA represents the manufacturing industry of powered two wheelers at the global level.