Current Affairs Quiz - January, 2020

Notes:
The Reserve Bank of India has recently granted ‘in-principle’ approval to Shivalik Mercantile Cooperative Bank, to convert into a Small Finance Bank (SFB). It is the first Urban Cooperative Bank (UCB) to be granted such permission after the announcement of RBI in September 2018, about voluntary conversion of UCBs into Small Finance Banks. 
The bank should comply with the requirements of an SFB such as minimum net worth and Capital to risk ratio, as stipulated by the RBI within 18 months of the in-principle approval.

Notes:
The National Traders Convention was recently inaugurated by the Defence Minister Rajnath Singh in New Delhi. The three-day event is organised by the Confederation of All India Traders (CAIT) and it will highlight the issues faced by the traders.
On the second day, The Union Finance Minister participated in the event and addressed the traders. She assured that the Goods and Service Tax (GST) would be further simplified. Recently Government constituted a committee under the Revenue Secretary for rationalising the GST tax structure.

Notes:
The Chief Minister of Gujarat, Vijay Rupani recently announced that a new centre for fostering innovation among the children would be set up in the state of Gujarat. It is named as the Vikram Sarabhai Children Innovation Centre.
The announcement was made during the Children Innovation Festival held at Gandhinagar, Gujarat. This festival was organised by the Gujarat University’s start up council, GUSEC in association with UNICEF. During the event, a letter of intent was also exchanged between the Gujarat University and UNICEF.

Notes:
The State Bank of India’s economic research department has lowered its projection for the GDP growth rate of India for FY 20 to 4.6%. Earlier it has projected the GDP rate to be 5%.
The research department also estimated that the GDP of India would be below 6% for two successive years. The CSO also recently estimated the GDP growth of FY20 to be 5%, in lines with the Reserve Bank of India. But the RBI projected 5.9 – 6.3% growth rate for the next fiscal.

Notes:
The World Bank has recently released its ‘January 2020 Global Economic Prospects report’. The GDP growth of India for FY20 is estimated to be 5%. The GDP growth for the year 2021-22 is also lowered to 5.8% in the report.
The credit instability of the weak Non-Banking Finance Companies (NBFCs) is cited to be the reason for the downgrade. Recently the Reserve Bank of India and the Central Statistical Office of the country also lowered the growth rate to 5% for this fiscal year.

Notes:
An International Conference cum Exhibition on Civil Aviation sector named ‘WINGS INDIA 2020’ is scheduled to be organised from March 12 to March 15, 2020. The event is to be held at Begumpet Airport in Hyderabad.
Recently the Civil Aviation Minister Hardeep Puri participated in the curtain raiser event for the WINGS INDIA Conference in New Delhi. The Ministry of Civil aviation is to organise the event in association with the industry body FICCI. This is one of the largest events on Civil Aviation in Asia.

Notes:
The International passport ranking ‘Henly Passport Index’ was recently released. It ranks various countries of the world in the order of travel-friendly passports based on the data of International Air Transport Association.
In the recent report, India’s rank is 84, which is two ranks above that of last year. The mobility score of Indian passport is 58, and it means that Indian passport holders can travel to 58 countries without a prior visa. The first rank in the index is bagged by Japan with a score of 191, followed by Singapore.

Notes:
The Economist Intelligence Unit (EIU) has released a chart of world’s fastest growing cities based on the data provided by the United Nation’s Population Division. Malappuram, a city of Northern Kerala topped the list. Two other cities of Kerala, Kozhikode and Kollam were ranked 4th and 10th respectively.
As per the report, Malappuram has recorded 44% rise in population between 2015 and 2020. In the report, three Kerala cities were in the top 10 list while six Indian cities were placed in the top 30 list.

Notes:
The 23rd National Youth Festival is to be organised by the Ministry of Youth Affairs and Sports in Lucknow from January 12 to 16, 2020, in association with the Uttar Pradesh Government. The festival is celebrated to commemorate the birth anniversary of Swami Vivekananda.
Every year, the birthday of the famous Indian monk from Kolkata, Swami Vivekananda is celebrated as the National Youth day on January 12 and the week commencing from the day as the National Youth week. During the youth festival, several competitions are held for the youth and National Youth awards are also presented.

Notes:
China recently added a significant bullet train to its Fuxing series of bullet trains. The recently added train is capable to ply with a speed up to 350 kilometres per hour. Another great feature of the train is it could run without a driver for operating the train.
The new train would connect the cities of Beijing and Zhangjiakou and is expected to be deployed during the 2022 Beijing Winter Olympics. Each seat of the train is furnished with a touch screen and a wireless charging port. The train also features 5G connectivity and removable seats to assist Paralympians.