Current Affairs Quiz - May, 2019

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:
Bangladesh-based terror outfit — the Jamaat-ul-Mujahideen Bangladesh (JMB) — was banned by the Government of India (GoI) under the anti-terror law UAPA. The terror out fit is also called as Jamaat-ul-Mujahideen India or Jamaat-ul-Mujahideen Hindustan. The Union Home Ministry stated that the outfit has committed acts of terrorism, promoted acts of terrorism and has been engaged in radicalization and recruitment of youths for terrorist activities in India. Therefore, the JMB and all its manifestations have been inserted in the First Schedule to the Unlawful Activities (Prevention) Act (UAPA) of 1967. The listing under the First Schedule of the UAPA means the outfit is now a banned organisation in India.

Notes:
In squash, Mahesh Mangaonkar from India has clinched the Sekisui Open title for the second time in his career in Kriens, Switzerland on May 25, 2019. In the final, Top-seeded Mahesh beat third seed Bernat Jaume of Spain in four games 11-9, 3-11, 11-5, 11-5. He had won the corresponding title for the first time in 2016. Sekisui Open is a Challenger tour event of the Professional Squash Association (PSA), the world body which governs the sports .

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:
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 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:
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:
To celebrate 2019 World Environment Day (WED), the Union Ministry of Environment, Forest & Climate Change (MoEFCC) has recently launched the song ‘Hawa Aane De’ to spread awareness about Air pollution. The theme song is written by Swanand Kirkire and sung by Shantanu Mukherjee, Kapil Sharma, Sunidhi Chauhan and Shankar Mahadevan. The film has been directed by Romanchak Arora. Every year, Union Environment Ministry celebrates WED focusing on the theme declared by UNEP and organizes several events. This year, the theme of Environment Day is ‘Air Pollution’. Hence, the events will include launch of film competition on environment, release of several books and three thematic sessions on Air Pollution, Waste Management and Forests: the Green Lungs of cities. It is noteworthy that to combat air pollution, MoEFCC has recently launched the National Clean Air programme (NCAP) which is a mid-term 5 Year Action Plan with targets of 20-30% reduction of PM 2.5 and PM 10 concentration in 102 cities, out of which 84 cities have already submitted their action plan. The main objective of NCAP is to control and abate air pollution across the country. It is a multi sectoral and collaborative approach with mainstreaming and integration.

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”.