Current Affairs Quiz - May, 2019

Notes:
The first-of-its-kind naval drill exercise ‘Pacific Vanguard’has been kick started by the United States, Japan, South Korea and Australia near Guam, United States. The “Pacific Vanguard” drill brings together more than 3,000 sailors from the four countries to sharpen skills and strengthen practical cooperation at sea. The drills will focus on live fire exercises, defensive counter-air operations, anti-submarine warfare, and replenishment at sea. The Royal Australian Navy contributed two frigates to the exercise – HMAS Melbourne and HMAS Parramatta. The Japanese Maritime Self-Defense Force sent destroyers – JS Ariake and JS Asahi, and South Korea the Republic of Korea Navy destroyer ROKS Wang Geon. The USS Blue Ridge, the Seventh Fleet’s flagship, will lead the operation from the U.S. side. Guam is home to more than 160,000 people, and was at the centre of nuclear tensions between Washington and Pyongyang in 2017, with North Korea threatening to hit the US territory with “enveloping fire”.

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:
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:
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:
Ivo Karlovic (40) of Croatia has become the oldest man to win a match at the French Open since 1973, after he defeated the 37-year-old Feliciano Lopez of Spain in a first-round duel of the 2019 French Open Tennis Tournament at Roland Garros. This was the oldest men’s match in combined age at Roland Garros during the Open Era, and the 7th-oldest match at a Grand Slam. Karlovic is also the oldest to win a Grand Slam match since 1978. The record for women is held by Elizabeth Ryan, who was 42 when she won the 1934 women’s doubles with Simone Mathieu.

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:
Actor Carmine Caridi (85), who is best remembered for playing Carmine Rosato in “The Godfather: Part II,” has passed away in California, United States on May 28, 2019. Besides “The Godfather” series, he also starred in TV shows including Phyllis, Starsky and Hutch, Taxi, NYPD Blue as Detective Vince Gotelli and Fame as Angelo Martelli. Interestingly, in 2004, Caridi became the first person to be expelled from the Academy of Motion Picture Arts and Sciences (AMPAS) after sharing screeners. He was booted out for passing on screeners of movies vying for Oscar attention. He along with Russell Sprague were sued by Sony and Time Warner on civil charges of copyright infringement. Caridi was cleared of wrongdoing.

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:
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.