Current Affairs Quiz - February, 2020

Notes:
Indian Oil and Gas company, the Indian Oil Corporation recently signed an MoU with Russian energy firm, Rosneft for importing Crude Oil from Russia.
The crude oil purchase agreement was signed during a meeting between Union Minister of Petroleum and Natural Gas Dharmendra Pradhan and the Chairman and CEO of Rosneft, Igor Sechin. Under the agreement, Russia would export 2 million tonnes of crude oil to India this year. Rosneft bought Essar Oil in 2017, which is now Nayara Energy and holds 49 per cent stake in the firm.

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:
E-Commerce major Flipkart recently shut down its Jabong- lifestyle and fashion e-commerce portal. The users are being redirected to the website of its another fashion company, Myntra.
Flipkart, which is now owned by Walmart, had acquired Jabong for $70 million four years back. As there was a dip in number of app downloads and its business, the portal was closed. Myntra was acquired by Flipkart in the year 2014. After it was bought by Walmart, Flipkart had merged Myntra and Jabong.

Notes:
The city of Kochi, Kerala hosts the 22nd India International Seafood Show, after a gap of 12 years. The three-day seafood show has been inaugurated by the Governor of Kerala, Arif Mohammed Khan on February 7,2020.
The event will provide a platform for collaboration of the exporters and importers of the country’s marine products and seafood industry. The theme of the programme is ‘Blue Revolution: Beyond production to value addition’. Marine Product Export Development Authority (MPEDA) organises the event in association with Seafood Exporters’ Association of India.

Notes:
Leading car-maker Ford recently inaugurated its technology and innovation centre in the southern Indian city, Chennai. The Centre was inaugurated by the Chief Minister of Tamil Nadu, Edapadi K Palaniswami along with the President and MD of Ford India.
The centre spanning over 15,000 sq. ft, is located at the Global Technology and Business Centre (GTBC) campus of Ford, in the Special Economic Zone of the city. The Centre has several state-of-the -art facilities including Mobility Experience Lab. It also has simulations for the Office Raid, an application-based mobility solution of Ford.

Notes:
Lucknow Declaration was adopted by the first ever India-Africa Defence Ministers conclave as a part of the 11TH DefExpo. In this Defexpo, 1024 exhibitors participated, 172 of them being foreign companies. 40 Defence Ministers were part of total 70 foreign delegations that visited Lucknow. The event was also called “Defence Kumbh” by UP’s Chief Minister.

Notes:
The Chief Minister of Haryana Manohar Lal has recently launched Mukhyamantri Parivar Samridhi Yojana. Under this scheme, an annual financial assistance of Rs 6000 is to be provided to the families in the State, whose annual income is up to Rs 1.80 lakh and who own land below 5 acres.
This ensures that the premiums for various welfare schemes of the Central Government, pension scheme and crop insurance are paid automatically from the bank accounts of the needy families.

Notes:
India and Nepal recently signed the financial closure of Arun-III, which is the largest hydropower project of Nepal. The 900 MW hydropower project is under construction in Nepal, with an estimated cost of $1.04 million.
The project, which is to be built with the financial assistance from India, is to be completed in 5 years. It is being built by Satluj Jal Vidyut Nigam (SJVN) Arun-III Power Development Company (SAPDC), a joint venture of the Government of India and the Government of Himachal Pradesh.

Notes:
The 33rd African Union (AU) summit has commenced recently in Addis Ababa, the capital of the African nation Ethiopia. The summit is being held under the theme ‘Silencing the Guns: Creating conducive conditions for Africa’s development’.
South African President Cyril Ramaphosa, took over as the African Union chair, from Egyptian President Abdel Fattah el-Sisi. Heads of countries and government officials from across Africa have assembled in the city for participating in the summit.

Notes:
Ministry of Coal (MoC) has recently launched a web portal for star rating of coal mines. Under the portal, all operational coal mines across the country will be enabled for self-rating. The mines will be subsequently validated by Coal Controller’s Organization (CCO), the subordinate office of Ministry of Coal.
The mechanism on the portal would award star rating to the mines with certain evaluation parameters under 7 modules.