Current Affairs Quiz - April, 2020

Notes:
On April 24, 1990 NASA had launched Hubble Space Telescope, which is one of the longest-living observatories of the space agency.
Hubble is the first major optical telescope to be placed in space. NASA runs the observatory in partnership with the European Space Agency (ESA). The agency also announced that they will continue to operate Hubble as long it remains productive.

Notes:
The World Health Organisation has announced an initiative called ‘Access to Covid Tools’ (ACT) Accelerator, which will be a collaborative step towards developing a vaccine and managing the pandemic.
Several heads of states and political leaders committed themselves to join this initiative and ensure the availability of vaccine and other drugs associated with Covid-19, to all countries of the world. The European Union will start the funding campaign from May along with European countries and Middle East countries.

Notes:
The Chief Minister of Madhya Pradesh has launched a new scheme called ‘Jeevan Shakti Yojana’, which aims to encourage urban women to make masks and provide them a financial assistance to sustain their livelihood.
The urban women of the state who are interested in joining this scheme will have to register themselves through the Call centres. Then, as per the orders they receive they can start making cotton masks and submit to nodal officers. A payment of Rs.11 per mask will be credited to their bank account.

Notes:
The UN body for Trade and Development, UNCTAD recently released a report titled ‘From the Great Lockdown to the Great Meltdown’.
In the report, the agency highlights that the repayment of the developing countries towards their public debt will amount to between 2.6 trillion and 3.4 trillion in 2020 and 2021. It also proposed a global debt deal to prevent Covid-19 pandemic from aggravating economic disaster.

Notes:
On April 26, 1986, the nuclear accident took place in the Chernobyl power plant in the Pripyat city of Ukraine. It is one of the worst nuclear disasters that has ever taken place in the world.
In the year 2016, the United Nations General Assembly adopted a resolution designating 26 April as International Chernobyl Disaster Remembrance Day. In the year 2009, UN launched the International Chernobyl Research and Information Network (ICRIN), to support the programmes in developing the affected places.

Notes:
According to the recent annual report of Stockholm International Peace Research Institute (SIPRI), the United States continue to be the highest military spender in the world in 2019 with $732 bn.
This is the first time two Asian countries China and India occupied the top-three positions. The military expenditure of China reached $261 billion in 2019, which is a 5.1% increase from the previous year. India’s expenditure rose by 6.8% to reach 71.1 billion.

Notes:
India’s central bank, the Reserve Bank of India (RBI) has announced a ₹50,000-crore special liquidity facility for mutual funds.
The package has been released at the backdrop of the shutting down of six debt funds by the Franklin Templeton Mutual Fund. Banks can borrow the 90-day funds from RBI at the current repo rate of 4.4% and use it to exclusively on-lend to mutual funds. The banks can also purchase investment grade corporate papers held by Mutual Funds.

Notes:
Domestic Credit rating agency India Ratings and Research (Ind-Ra) has further decreased the GDP growth rate of India to 1.9% for the current fiscal. It had previously estimated the growth rate for this fiscal to be 3.6%. The estimate was significant as this would be the lowest GDP growth in the last 29 years.
The report also highlighted that in the absence of any stimulus measures from the government, the fiscal deficit would touch 4.4% of GDP in this fiscal 2020-21, the official target being 3.5%.

Notes:
‘World Day for Safety and Health at Work’ is being celebrated on 28 April, every year since 2003, across the world.
This year the theme/campaign on this special day is ‘Stop the pandemic: Safety and health at work can save lives’. The aim of celebration of this day is to highlight the prevention of accidents and diseases at work. 28 April is also the ‘International Commemoration Day for Dead and Injured Workers’.

Notes:
The Union Ministry of Finance has established the International Financial Services Centres Authority (IFSCA), which will be headquartered in Gandhinagar in Gujarat.
This body will regulate all financial products and financial services in International Financial Services Centres (IFSCs) in the country against multiple regulators including RBI, SEBI, IRDA and PFRDA. The IFSCA will have a chairperson and one member each nominated by the regulators. It will also include two members from the central government and full-time or part-time members.