Current Affairs Quiz - March, 2020

Notes:
As per the recent information from the Union Defence Ministry, the share of Indian companies in contracts awarded by the Union Defence Ministry for procurement of defence equipment is 75.03 per cent in 2019-20.
The share has increased from 39.06 per cent in 2015-16 to 75.03 per cent in 2019-20 as the Ministry tries to procure indigenously manufactured equipment to the maximum extent. In the last five years 158 contracts were signed with Indian vendors against 100 foreign contracts.

Notes:
The Central bank of the United States-the Federal Reserve has recently cut its benchmark interest rate to almost zero.
The Fed Reserve also announced that it would buy $700 billion in bonds to ease the economic activities. The bank also said that it shall maintain this target range until the economy is on track to achieve its maximum employment and price stability goal.

Notes:
Phool Dei is the harvest festival celebrated in the state of Uttarakhand. The cultural festival is celebrated to mark the beginning of spring season.
It is usually celebrated in the month of Chaitra (March-April) in the Hindu calendar. The people of the state decorate their houses with flowers as a part of the celebration. Children shower flowers at the doorsteps of houses wishing prosperity.

Notes:
Kerala has launched an initiative to use robots for creating awareness on COVID-19 among the public. Two robots have been built by a start-up in Kerala called Asimov Robotics, under the Kerala Start-up Mission, an initiative by the state government to promote start-up firms.
One wears a mask and distributes hand sanitisers, napkins, and masks to people while the other robot responds to queries. They are deployed in Kochi on a pilot basis.

Notes:
Europe’s largest bank and multinational investment bank HSBC recently announced that it appointed Noel Quinn as Chief Executive officer.
Noel Quinn joined the HSBC bank in 1987 and took interim charge of HSBC last August after the sudden exit of the previous CEO John Flint. There have been several speculations regarding the appointment, which ended now as an insider has been appointed.

Notes:
India recently committed to provide a grant of Nepalese Rupees 107 million (equivalent to INR 68 million) to Nepal for the construction of three school buildings.
The Embassy of India and the Ministry of Federal Affairs and General Administration of Nepal signed two Memorandum of Understandings (MoUs) for the construction of two new school buildings. These two school buildings shall be constructed under the India-Nepal Development Partnership programme.

Notes:
The state government of Uttarakhand issued orders to remove reservation in promotions for SC/ST employees.
In the month of February 2020, the Supreme Court stated that the government is not bound to make reservations and claiming reservation in promotions is not a fundamental right. Now Uttarakhand government has implemented government order which bans reservation in promotion and removed the restriction in promotions in all state government departments.

Notes:
The Reserve Bank of India (RBI) is conducting Open Market Operations (OMO) in the form of purchase of Rs 10,000 crore worth government securities.
This important step of the central bank has been announced at the backdrop of the increased risks of COVID-19 pandemic. The operation would increase the liquidity in the Indian economy and would help the financial market segments which are affected by the economic risks.

Notes:
The Reserve Bank of India (RBI) has extended the validity of authorization issued to IT service management company Vakrangee, to setup, own and operate the White Label ATMs (WLA) in India.
The validity of authorization has been extended till 31 March 2021. RBI has assigned a target of minimum 1,000 ATMS to be deployed by Vakrangee for three years starting from 2020, with the stipulated ratio in Metro & Urban, Semi-Urban and Rural regions.

Notes:
Prime Minister Narendra Modi during his public address, announced the setting up of a COVID-19 economic response task force.
The task force is to be headed by Finance Minister Nirmala Sitharaman, to measure the economic impact of the pandemic and take appropriate steps. The Finance Minister is set to meet the Ministers of animal husbandry, dairy and fisheries, civil aviation, tourism and MSME, for getting feedback and assessing the economic impact of COVID-19.