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:
One of the largest Asset Management companies in India, the Franklin Templeton Mutual Fund has recently announced to have shut down six of its funds owing to market disruptions amid Covid-19.
The Association of National Exchange Members of India (ANMI) sought the intervention of the SEBI and Finance Ministry to protect investor capital in six mutual fund schemes. These funds collectively managed a corpus of over ₹25,000 crore.

Notes:
The Chief Minister of Andhra Pradesh YS Jagan Mohan Reddy recently launched a scheme in Amaravati, which seeks to provide loans to the women Self Help Groups (SHGs) of the state, at zero percent interest.
The Chief Minister released about ₹1,400 crore for the scheme, which is expected to benefit nearly 8.78 lakh SHGs. The interest component of ₹20,000 to ₹40,000 will be borne by the state government. At present, the SHGs borrow from banks at interest rate of 7 to 13 per cent.

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 Rohtang pass, is located at an altitude of 13,500 ft on the eastern Pir Panjal Range of the Himalayas. The pass which is strategically located to link Kullu valley with the Lahaul and Spiti valleys in Himachal Pradesh, has been opened to the general public by the Border Roads Organisation (BRO).
The BRO completed the snow-clearance process and opened the pass ahead of the target time. This will enable better transportation of essential supplies and relief materials to the remote areas.

Notes:
The state of Tamil Nadu promulgated an ordinance which made blocking the dignified burial or cremation of victims of notified disease, a criminal offence.
As per the official release, the people involving in such acts will face a minimum jail term of one year to a maximum three-year imprisonment, under section 74 of ‘The Tamil Nadu Public Health Act, 1939’. This decision has been taken at the backdrop of agitations against the burial of two doctors who died of Covid-19.

Notes:
The World Intellectual Property Day 2020 is celebrated every year on April 26, across the world. The Geneva-based UN specialised agency, World Intellectual Property Organisation (WIPO) leads the celebration.
This year, the theme of the World Intellectual Property Day 2020 is ‘Innovate for a Green Future’. While the WIPO could not organise any physical event amidst the Covid Pandemic, it highlights innovation and the IP rights as the main tools to create a green future. It encouraged its offices to celebrate the day through virtual channels.

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:
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:
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.