Current Affairs Quiz - May, 2019

Notes:
The workhorse of the Indian Air Force (IAF), the Russian made AN-32 transport aircraft was formally fleet certified to fly on a blended bio-jet fuel partly derived from trees. The fuel will be 10% tree-derived and 90% conventional aviation fuel. The IAF has plans to widen the experiment over the next two years. The approval for use of bio-fuel to fly the Russian made fleet was given by the Centre for Military Airworthiness and Certification (CEMILAC). The indigenous bio-jet fuel was first produced by the CSIR-IIP lab at Dehradun in 2013, but could not be tested or certified for commercial use on aircraft due to lack of test facilities in the civil aviation sector. This is a huge step in promoting the ‘Make in India’ mission as this bio-fuel would be produced from Tree Borne Oils (TBOs) sourced from tribal areas.

Notes:
The Reserve Bank of India (RBI) has allowed large modern currency chests to increase the service charges on cash deposited by non-chest bank branches from the existing rate of Rs. 5 per packet of 100 pieces to a higher rate subject to a maximum of Rs. 8 per packet. For this, only a Currency Chest (CC) that fulfils the minimum standards will be eligible to be classified as a large modern CC. The increased rates can be charged only after such classification by the issue office concerned.

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:
Prem Singh Tamang, the president of Sikkim Krantikari Morcha (SKM) and popularly known as P S Golay, has been sworn-in as the new chief minister of Sikkim. Governor Ganga Prasad administered the oath of office to Mr. Golay in a grand ceremony at the Palzor stadium in Gangtok. Mr. Golay is not a member of the state assembly at present as he did not contest the polls. The SKM won 17 of the 32 legislative Assembly seats in the State in the recently held Assembly polls. The Sikkim Democratic Front (SDF), which had ruled the State for 25 years, won 15. Mr. Golay succeeded Pawan Chamling of the SDF who has the record of longest-serving Chief Minister of the country, ruling the State for five consecutive terms for a little over 24 years.

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:
Conrad K Sangma, the Chief Minister of Meghalaya, has launched Rs 18-crore Aroma Mission at Byrwa in Ri-Bhoi district with an aim to strengthen the livelihood condition of farmers and create employment opportunities in the state. The move will boost the cultivation of Medicinal and Aromatic Plants (MAPs). As part of the mission, a Memorandum of Agreement was also signed between the Central Institute of Medicinal and Aromatic Plants (CIMAP) and Meghalaya Basin Development Authority (MBDA) for a collaborative work on medicinal and aromatic plants. The CIMAP is a frontier plant research laboratory of Council of Scientific and Industrial Research (CSIR). The chief minister also called for preserving forest cover while announcing the government’s plan to plant one million trees on World Environment Day on June 5 in different parts of the state especially in catchment areas.

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:
N Kumar, Vice-Chancellor of Tamil Nadu Agricultural University (TNAU), has been conferred the lifetime recognition award by the Confederation of Horticulture Association of India at the International Conference on Innovative horticulture at Pantnagar, Uttarakhand on May 28, 2019. The award has been conferred for his outstanding contribution in the field of horticulture and academic leadership focussed on human resource development in agriculture.

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 IIT-Madras has recently launched an Integrated Database on Infrastructure Projects (IDIP) at the 15th World Conference on Transport Research conference held at IIT Bombay. The purpose of the data platform is to enhance the efficiency of infrastructure development and enable effective decision-making among different stakeholders involved in the sector. The initial focus of IDIP will be on the road sector, which has received the highest private investment among all infrastructure sectors. The PPP programme in the road sector in India is the largest in the world. The platform includes data coverage across the project life cycle comprising development, construction and operation phases. In addition to roads, other sectors such as railways, ports, and airports would also be included in the platform shortly.