Current Affairs Quiz - February, 2020

Notes:
The Union Finance Minister Nirmala Sitharaman announced a dispute resolution scheme for direct taxes in the recent Union Budget 2020-21.
Under the proposed scheme, the taxpayers whose tax demands are locked in any dispute in any of the forums can pay their due taxes by March 31, 2020. By paying it before the deadline, the taxpayer can get complete waiver of interest and penalty. With an additional 10 per cent, he can pay up to June 30. The Finance Minister recently introduced the ‘Vivad se Vishwas’ bill in the parliament. Last year, a scheme for dispute resolution for indirect taxes called ‘Sabka Vishwas’ was launched.

Notes:
In the recent Monetary policy committee statement released by the Reserve Bank of India, it extended the deadline for one-time restructuring of GST-registered MSME borrower account to December 31,2020. The restructuring was to be implemented before March 31, 2020, as per the RBI’s earlier guidelines. It also announced that scheduled commercial banks can deduct the credit disbursed as retail loans for automobiles, housing and MSME loans from their net demand and time liabilities (NDTL) for CRR maintenance.

Notes:
The first ever India-Africa Defence Ministers’ Conclave was recently held in the city of Lucknow, during the 11th edition of the biennial defence exhibition DefExpo 2020.
The Defence Ministers and Heads of Delegation from African countries and the Defence Minister of India jointly held the first India Africa Defence Ministers’ Conclave. The Conclave adopted the Lucknow Declaration. Chief of Defence Staff General Bipin Rawat, Chiefs of all the three services were also present in the event. Prior to this, during the third India-Africa Forum Summit (26-30 October 2015), the Delhi Declaration was adopted.

Notes:
The Reserve Bank of India (RBI) recently released its statement on developmental and regulatory policies, along with the February 2020 Monetary policy statement.
In the statement, the central bank announced about the launch of Digital Payments Index (DPI), which will assess the digitalisation of payments in the country. The DPI will accurately measure the penetration of digital payment modes among the general public of the country. The index is proposed to be launched from July 2020.

Notes:
As per the Supreme Court ruling on November 9, 2019, a trust had to be set up for the construction of the Ram Temple within three months of the court order. Hence the Indian Government constituted the trust, which is named as ‘the Shri Ram Janmabhoomi Teertha Kshetra’.
Former Attorney General of India, Advocate K Parasaran has been named as the head of the trust, which will function at his residence in Delhi. The advocate had earlier represented the litigant ‘Ram Lalla’ in the dispute and earned the verdict in its favour. An independent 15-member team has been named as the members of the trust, which will always have a trustee from the Dalit community, as per the Union Home Ministry.

Notes:
High Energy Materials Research Laboratory (HEMRL) is a laboratory of the Defence Research and Development Organisation (DRDO). Head-quartered in Pune, it conducts research in the area of High Energy Materials and Explosive materials.
Recently, the lab has tied up with the Russian state military organisation Rosoboronexport to import new technologies for the development of high energy materials required for missiles, rockets and guns. A technology development contract was signed with the organisation in this regard.

Notes:
The Marine Products Export Development Authority (MPEDA) was established in 1972, by an act of Parliament, to act as the nodal agency for the development of Indian seafood industry. It is head-quartered at Kochi.
Recently, MPEDA announced that it is to start the upgradation and modernisation 25 fishing harbours in the country. The project is to be undertaken with the assistance from the Centre
at a proposed outlay of Rs 2500 crore.

Notes:
State Bank of India (SBI) recently partnered with the mobile phone manufacturer Realme, to offer credit facilities. The partnership is made under the bank’s electronic lending product- Electronic Dealer Financing Scheme (e-DFS).
Under this MoU, the dealers and distributors of Realme would get access to credit facilities at low interest rates and minimum collateral. The inventory transactions could also be reported real-time, using the product.

Notes:
The Australian team was presented with the ICC Women’s Championship trophy. The team has retained the trophy by topping in eight-team ODI competition played from 2017 to 2020.
Australia has scored 34 points from 18 matches with one more series to play. The ICC Women’s Championship qualified hosts New Zealand and four other top teams including Australia, England and South Africa, directly to the ICC Women’s Cricket World Cup 2021.

Notes:
Chief Minister of Tamil Nadu, Edappadi K. Palaniswami recently announced that the Cauvery delta region would be declared as a ‘Protected Special Agriculture Zone’.
This declaration would ensure the food security of the State. The Cauvery delta region in the central districts of Tamil Nadu would be converted into Protected Special Agriculture Zone. Special legislations are to be enacted in this regard.