Current Affairs Quiz - August, 2020

Notes:
Mukesh Ambani led Reliance Industries has gone 10 places ahead in the Fortune Global 500 list and entered into the world’s top 100 companies.
As per the recent 2020 ranking released by Fortune, Reliance has been ranked at 96th place globally. This is the highest rank ever of any Indian company on the Fortune Global 500 list. Indian Oil Corporation (IOC) slipped to 151st rank, Oil and Natural Gas Corporation (ONGC) is ranked 190th while State Bank of India (SBI) is at 221st rank.

Notes:
With an aim to improve the efficiency and transparency in asset classification process, the Reserve Bank of India issued a direction to implement “system-based asset classification” in Urban Co-operative Banks (UCBs).
Those UCBs having total assets of Rs.2000 crore or above as on 31st March 2020, should implement system-based asset classification from 30th June 2021. Those UCBs having total assets equal to or more than Rs.1000 crore but less than Rs.2000 crore shall implement it from 30th September 2021.

Notes:
The Indian Prime Minister Narendra Modi has launched a new platform ‘Transparent Taxation – Honoring the Honest’.
The platform aims to ease the compliance and fast- track the refunds so that all honest taxpayers are benefitted. Three main features of the platform include faceless assessment, faceless appeal and tax payers’ charter.

Notes:
The Naval Innovation and Indigenisation Organisation (NIIO) was launched by the Union Defence Minister Rajnath Singh, through an online webinar.
The NIIO has a 3-tier structure and it enables the users to interact with academia and industry, to achieve innovation and indigenisation in Defence. As per the Draft Defence Acquisition Policy 2020, Defence Service headquarters should establish an Innovation & Indigenisation Organisation within existing resources.

Notes:
Among all the Indian Prime Ministers, Narendra Modi has the longest tenure as head of elected government.
Including his term of more than 12 years as the Chief Minister of Gujarat, his total term as the head stands over 18 years and 300 days. He is also the longest-serving non-Congress prime minister of the country. The term as the head of Jawaharlal Nehru was over 16 years and that of Indira Gandhi was over 15 years.

Notes:
A five-month time extension has been given by the Ministry of New and Renewable Energy (MNRE) from 25th March 2020 to 24th August 2020 to all the Renewable Energy Projects under implementation.
The implementing agencies have been directed to treat COVID 19 as a “Force Majeure”. This move is followed by the representation from various implementing agencies demanding extension of time due to COVID 19-imposed national lockdown.

Notes:
Indian cricket icon and former captain Mahendra Singh Dhoni has announced retirement from international cricket.
The 39-year-old star is the only captain in the world who led his team to win all three ICC trophies so far. Under his captaincy, India won the ICC World Twenty20 in 2007, Asia Cups in 2010 and 2016, the ICC Cricket World Cup in 2011 and the ICC Champions Trophy in 2013. Another Cricketer Suresh Raina also announced his retirement.

Notes:
The Platform for Investor Education (PIE) has been launched by the IIM Bangalore and National Stock Exchange (NSE) – Investor Protection Fund Trust.
The platform would help in investor education through simple and easy-to-understand audio-visual format. It will reflect the current developments in financial markets through the research initiative by the faculty of IIM Bangalore.

Notes:
Union Minister of Tribal Affairs Arjun Munda has recently launched a new e-portal named ‘Swasthya’ and a e-newsletter named ALEKH.
The portal aims to consolidate all health and nutrition related information of the tribal population of India. It also provides best practices collected from different parts of India and enables an effective decision making related to the nutrition of tribal population.

Notes:
Union Minister of Environment, Forests and Climate Change, Prakash Javadekar has directed that 80 per cent of the CAMPA (Compensatory Afforestation Fund Management and Planning Authority) funds have to mandatorily be used for plantation drives and afforestation.
The rest of the funds are to be used capacity building, as per the separate budget of the state. The recent Finance Commission has increased the devolution to 10% for the forest cover.