Current Affairs Quiz - May, 2019

Notes:
German payments company Wirecard has teamed up with India to simplify the process of issuing tax identity cards required to open bank accounts, transfer money or complete business transactions. The deal, with state company UTI Infrastructure Technology and Financial Services, seeks to widen the distribution of so-called PAN cards in the country of 1.3 billion where most people still live and work in the informal economy. Munich-based Wirecard, founded in 1999, runs a digital payments platform that handles payments for merchants and issues real and ‘virtual’ payment cards to consumers. It mainly operates under arrangements that allow their partners to rebrand their products. Wirecard is already has a presence in India and its network of 15,000 retail agents in 350 cities would help collect and scan in the documents that people need to apply for a PAN card.

Notes:
On May 23, the NewSpace India Ltd. (NSIL) has officially inaugurated in Bengaluru, Karnataka to scale up industry participation in Indian space programmes. It is the commercial arm of Indian Space Research Organisation (ISRO). NSIL will act as an aggregator for all space related activities in industry and develop private entrepreneurship in space related technologies. Specifically, it will be responsible for manufacturing the and production of Small Satellite Launch Vehicle (SSLV) and Polar Satellite Launch Vehicle (PSLV) through technology transfer mechanisms. It will also cater to emerging global commercial SSLV market demand, providing satellite building and satellite-based services, including supply of sub-systems for various domestic and international application needs and will enable space technology spin-offs through Indian industry interface.

Notes:
On May 26, China clinched the badminton world mixed-team championship at the 16th edition of the Sudirman Cup 2019 in the Chinese city of Nanning. They beat Japan in men’s doubles, women’s singles and men’s singles to clinch the title for an 11th time. In the latest Men’ singles match Shi Yuqi stunned world champion Kento Momota 15-21, 21-5,21-11. Japan has never lifted the mixed-team world championship since it began in 1989.

Notes:
Russia has recently launched the third and final Project 22220 LK-60Ya-class nuclear-powered icebreaker – the Ural – at the Baltic Shipyard in St Petersburg to open up Arctic shipping routes.The ship is one of a trio that when completed will be the largest and most powerful icebreakers in the world. It is part of an ambitious programme to renew and expand its fleet of the vessels in order to improve its ability to tap the Arctic’s commercial potential. The Ural will eventually be handed over to Russia’s state-owned nuclear energy corporation Rosatom in 2022 after the two other icebreakers in the same series – Arktika (Arctic) and Sibir (Siberia) – enter service. The main task for the Project 22220 icebreakers will be to clear passages for ship traffic on the Northern Sea route, which runs along the Russian Arctic coast from the Kara Sea to the Bering Strait. As per estimated of U.S. Geological Survey, the Arctic holds oil and gas reserves equivalent to 412 billion barrels of oil, about 22% of the world’s undiscovered oil and gas.

Notes:
Scott Morrison has been sworn-in as new Prime Minister of Australia, after retaining the position in the 2019 general election. Along with Deputy Prime Minister Michael McCormack, Mr. Morrison was sworn in by Queen Elizabeth’s official representative , Governor-General Sir Peter Cosgrove, at a ceremony in the capital, Canberra. Mr. Morrison became Australia’s 30th Prime Minister through an internal party vote in August 2018 in which he replaced Malcolm Turnbull as chief of the ruling Liberal Party. The 46th Parliament of Australia is expected to open in the first week of July.

Notes:
The Reserve Bank of India (RBI) has constituted a 6-member committee to review the existing state of mortgage securitisation in India and suggest measures to deepen it. The committee on the development of housing finance securitisation market, headed by Bain & Co Senior Advisor Harsh Vardhan, will review the regulations relating to Mortgage-Backed Securitization (MBS) currently in place, and make specific recommendations on suitably aligning the same with international norms. It will recommend specific measures for facilitating secondary market trading in mortgage securitisation instruments, such as broadening the investor base, and strengthening the market infrastructure.

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 World No Tobacco Day (WNTD) is observed every year on May 31 to create awareness about the negative impacts of tobacco consumption on human health. The focus theme of 2019 edition of WNTD is on “tobacco and lung health”. The campaign will increase awareness on: the negative impact that tobacco has on people’s lung health, from cancer to chronic respiratory disease, the fundamental role lungs play for the health and well-being of all people. The campaign also serves as a call to action, advocating for effective policies to reduce tobacco consumption and engaging stakeholders across multiple sectors in the fight for tobacco control. On the occasion, the Union Ministry of Health and Family Welfare of India organized a national consultation on tobacco and lung health in New Delhi. The consultation, organized in collaboration with World Health Organization (WHO), was aimed at raising awareness about the negative impacts of any form of tobacco consumption on the health of lung and cancer causing micro-elements in it. Theme of the event was “Don’t Let Tobacco Take Your Breath Away – Choose Health Not Tobacco”.

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.