Current Affairs Quiz - May, 2019

Notes:
On May 24, the Defence Research and Defence Organisation (DRDO) successfully flight tested a 500 kg class Inertial Guided Bomb (IGB) from Su-30 MKI Aircraft from the Pokhran test range in Rajasthan. The guided bomb achieved the desired range and hit the target with high precision. The weapon system is capable of carrying different warheads. The test firing of the guided bomb came two days after the Indian Air Force (IAF) successfully test fired the aerial version of the supersonic BrahMos cruise missile from a Sukhoi jet at the Andaman and Nicobar Islands. The 2.5 tonne air-to-surface missile has a range of around 300 km, and it will significantly enhance the IAF’s combat capability. The BrahMos cruise missile travels at a speed of Mach 2.8, nearly three times that of sound.

Notes:
Veeru Devgan (85), veteran action choreographer and father of Ajay Devgan, has passed away in Mumbai, Maharashtra on May 27, 2019. He choreographed action scenes in more than 80 films such as Hindustan Ki Kasam, Mr. India and Mr. Natwarlal (1993). He also acted in films like Kranti, Saurabh and Singhasan. Recently, he stopped going to film parties, but he was seen at the screening of ‘Total Dhamaal’.

Notes:
On 2019 World Meterology Day, the Council of Scientific and Industrial Research and National Physical Laboratory (CSIR-NPL) has recently introduced redefined International System of Units for the country. The redefined systems are Kilogram (SI unit of weight), Kelvin (SI unit of temperature), Mole (SI unit of amount of substance), and Ampere (SI unit of current). The purpose of a system of units is to enable world-wide coherence of measurements. CSIR- NPL has also sent the new definitions to the Ministry of Human Resource Development (MoHRD) for the engineering course syllabus and to National Council of Educational Research and Training for adoption in schools. It must be noted that the world’s scientific community adopted the resolution to redefine four of the 7 base units during the open session of the General Conference on Weights and Measures (CGPM) at BIPM in November 2018. Therefore, there is no change in the definition of three other SI units—second, metre and candela — which were defined based on natural constants.

Notes:
Gian Chand (93), the veteran freedom fighter, has passed away at his native village in Mohalla Ramgarh of Chamba district, Himachal Pradesh on May 27, 2019. Born on 26th October 1926, Chand was a member of Azad Hind Fauj led by Netaji Subhash Chandra Bose.

Notes:
The Reserve Bank of India (RBI) has constituted a six-member task force, headed by Canara Bank chairman T.N. Manoharan, on the development of secondary market for corporate loans. The terms of reference of the task force would include review of the existing state of the market for loan sale or transfer in India as well as the international experience in loan trading. Further the task force will be required to make recommendations on required policy or regulatory interventions for facilitating development of secondary market in corporate loans, including loan transaction platform for stressed assets. The task force has been asked to submit its report by the end of August 2019. In India, banks sell their stressed loans to the Asset Reconstruction Companies, but have practically no other alternatives. However, globally, there is a healthy corporate loan market where banks can offload their stressed assets and those get traded.

Notes:
India has been ranked 43rd most competitive economy in the 2019 edition of the IMD World Competitiveness Rankings on the back of its robust economic growth, a large labour force and its huge market size. In the 2019 rankings, India has scored well on several economic parameters and tax policies but has lagged in terms of public finance, societal framework, education infrastructure, health and environment. Singapore has topped the index, followed by Hong Kong SAR and United States. The IMD World Competitiveness Rankings, established in 1989, incorporate 235 indicators from each of the 63 ranked economies to evaluate their ability to foster an environment where enterprises can achieve sustainable growth, generate jobs and increase welfare for its citizens.

Notes:
On 30 May 2019, James Marape has been nominated, elected, and sworn-in as the 8th Prime Minister of Papua New Guinea (PNG). He is a former finance minister and critic of a major global gas development deal. His appointment comes after the outgoing leader Peter O’Neill resigned recently. Papua New Guinea is a South Pacific nation of 7.3 million people. It has rich reserves of copper, gold, and oil, but development has been hampered by public order issues, rugged terrain and disputes over land.

Notes:
The scientists at the Stanford University in the US have developed a more stable prosthetic foot which they say could make challenging terrain more manageable for people who have lost a lower leg. The new design has a kind of tripod foot that responds to rough terrain by actively shifting pressure between three different contact points. Prosthetic emulators allow them to try lots of different designs without the overhead of new hardware. According to the study published in the journal IEEE Transactions on Biomedical Engineering, prosthetic limbs can better handle the rough ground. Outfitted with position sensors and motors, the foot could adjust its orientation to respond to varying terrain, much as someone with an intact foot could move their toes and flex their ankles to compensate while walking over rough ground.

Notes:
Indians Scientists has recently identified a new species of primate wasp from the genus Kudakrumia in Goa. The new species was collected in the forests of Western Ghats. The wasp, which is dubbed as Kudakrumia rangnekari, was named after Goa-based researcher Parag Rangnekar. Rangnekar is the author of a book “Butterflies of Goa”, which is perhaps a first field guide with photographs of the species found in this region. His quest to document the butterflies of this unique region resulted in a record of 220 species, of which 13 species had not been described before. He is the founder-president of the Goa Bird Conservation Network. The holotype is from Kotigao Wildlife Sanctuary of Goa of northern Western Ghats and the paratype is from Ranipuram hill of Kerala of southern Western Ghats. A wasp is any insect of the order Hymenoptera and suborder Apocrita that is neither a bee nor an ant.

Notes:
The Reserve Bank of India (RBI) will observe 2019 Financial Literacy Week (FLW) across the country from 3rd to 7th of June. The theme this year is – ‘Farmers and how they benefit by being a part of the formal banking system’. The posters and leaflets will be used to spread awareness and spread the message of financial literacy among the farming community. The RBI has advised banks to display the posters and content in their rural bank branches, Financial Literacy Centres, ATMs and websites. It will also undertake a mass media campaign this month on Doordarshan and All India Radio to disseminate essential financial awareness messages to farmers.