Current Affairs Quiz - April, 2020

Notes:
The Kusuma School of Biological Sciences (KSBS) of Indian Institute of Technology (IIT), Delhi has developed a COVID-19 test kit and it has been approved by the Indian Council of Medical Research (ICMR), thereby becoming the first institute to be approved for a real-time kit.
The test kit, which tests the swab of the suspected patient is also claimed to be more affordable than the other kits available. Commercial production can be easily done as the kit does not require fluorescent probes, as per the researchers.

Notes:
As per the recent announcement of the Union MSME Minister Nitin Gadkari, he has devised a scheme to set up a Rs 1 trillion fund, which is to be launched by the Government after the approval of Cabinet.
This fund will be utilised for repaying outstanding payments to MSMEs owed by the PSUs, central and state governments and major industries. This is also expected to increase liquidity in the market. As per his statement, the Ministry is also working on fast-tracking GST refunds to help MSMEs.

Notes:
Retired IAS officer and the secretary to the President since 2017 has been appointed as the Central Vigilance Commissioner of India.
The post of the chief of the Central Vigilance Commission (CVC) has remained vacant since June 2019 after the tenure of K V Chowdary was over. The name of Kothari was recommended by a high-level selection panel headed by Prime Minister Narendra Modi. The process was claimed as unconstitutional by opposition parties as Sanjay Kothari was not an applicant not been shortlisted.

Notes:
As per the latest data from the US Treasury Department, Japan was the largest holder of US securities worth over $1.268 trillion at February end.
It was followed by China with securities worth 1.092 trillion. India is at the 13th position in terms of holding securities. India’s holding of US government securities rose by 13 billion in a month to record high of 177.5 billion at February end. The overall holding of India increased by 33.2 billion in the last year.

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:
The CRISIL rating agency has recently released a report, which slashed the GDP forecast of India to nearly half from its previous estimate to 1.8 per cent for 2020-21.
The agency also estimated that the total losses to be faced by the country would be Rs 10 lakh crore or Rs 7,000 per person due to the impact of the lockdown imposed to curb the spread of Covid-19. The agency also asked the government to increase the stimulus response and support.

Notes:
Organisation for Economic Cooperation and Development (OECD) is an intergovernmental economic organisation which aims to stimulate economic progress and world trade. It is headquartered at Paris, France and has 36 member countries.
Recently, the President of the United States has nominated veteran Indian-American diplomat Manisha Singh as America’s next envoy to OECD. The diplomat had previously served in several significant positions which includes her present role as the Assistant Secretary of State for Economic and Business Affairs.

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 Government Hospital of Ernakulam, Kerala has deployed a robot named ‘KARMI-Bot’, to serve food and medicines to coronavirus patients in the Covid-19 isolation wards.
The robot has been introduced to reduce risk of the doctors and health workers from being contracted to the coronavirus. Asimov Robotics, a start-up company working under the Kerala start-up mission, has developed the robot. It is also designed to collect trash, disinfect the room and enable video call between the doctor and patients.

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.