Current Affairs Quiz - May, 2019

Notes:
Lewis Hamilton, a British racing driver who races in Formula One for Mercedes-AMG Petronas Motorsport, has won the 2019 Monaco Grand Prix with a perfectly measured drive.

Notes:
Motilal Oswal Asset Management Company (AMC) has launched its WhatsApp transaction platform for new as well as existing investors. It is the first of its kind initiative by any fund house in India to do mutual fund transactions through the popular cross-platform messaging app. Investors can use WhatsApp to invest in any scheme from Motilal Oswal AMC. The investor through his/her registered number can initiate a transaction in Motilal Oswal MF schemes just by typing ‘Hi’. A customer can complete the entire process in less than two minutes and gets an instant transaction confirmation through the medium. The investor can make the investments either in a lump sum or through systematic investment plans (SIP).This feature is not a part of WhatsApp Pay and is different from using it as a payment channel.

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:
President Muhammadu Buhari has been sworn-in for his second term as President of Nigeria in a ceremony at the Eagle Square in Abuja. He won 56% of the votes to defeat his main rival Atiku Abubakar of the Peoples’ Democratic Party (PDP) in the 2019 February election. Buhari will face a number of challenges during his second term as he tries to fulfil his election promises, including dealing with security threats and managing a sluggish economy and a high unemployment rate.

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:
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 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.

Notes:
The Indian Air Force (IAF) and the Indian Space Research Organisation (ISRO) have recently signed a MoU for getting Indian astronauts trained for ISRO’s Gaganyaan mission. The development formally involves IAF’s Bengaluru-based medical arm, the Institute of Aerospace Medicine (IAM), in the programme as the nodal centre to train the first set of Indian astronauts. The Rs 10,000-crore Gaganyaan is planned for 2022, the 75th year of Indian independence. Gaganyaan (“Sky Craft”) is an Indian crewed orbital spacecraft intended to be the basis of the Indian Human Spaceflight Programme.