Current Affairs Quiz - December, 2020

Notes:
The Central Government has decided to forego interest on eight specified categories of loans paid up to Rs two crore, on account of Covid-19 pandemic.
The Supreme Court of India has directed the government again to take steps to forego the interest in eight categories of loans, namely MSME, Education, Housing, Consumer durable, Credit card, Automobile, Personal and Consumption.

Notes:
The Parliament of Iran has passed a bill, called as “The strategic measure for the removal of sanctions”.
It aims to uplift the country’s nuclear activities, following the assassination of Iranian nuclear physicist Mohsen Fakhrizadeh. The scientist, who died of gun men attack, was the head of the Iranian Defense Ministry’s innovation center.

Notes:
World Investor Week (WIW) is a week-long global campaign observed to raise awareness about the importance of investor education.
The campaign is promoted by the International Organisation of Securities Commissions (IOSCO). In India, the Securities Exchange Board of India (SEBI) chose November 23 – 29, 2020 to celebrate this week. Various bodies including AMFI, NSDL and stock exchanges conduct awareness campaigns.

Notes:
China launched the ambitious ‘One Belt and One Road’ (OBOR) initiative in 2013, to link Southeast Asia, Central Asia, the Gulf region, Africa and Europe with a network of land and sea routes.
During the 19th meeting of the Council of Heads of Governments of the SCO, all other member nations of SCO, except India reaffirmed their support to the OBOR project of China. India is critical of the China Pakistan Economic Corridor (CPEC), a part of OBOR.

Notes:
The Asian Development Bank (ADB) has approved a USD 430 million multi-tranche financing facility (MFF) to improve Power Distribution Network of Uttar Pradesh.
Named as the ‘Uttar Pradesh Power Distribution Network Rehabilitation Project’, it aims to improve the quality of electricity supply in the state. The project is estimated to benefit around 70 million people in 46,000 rural villages.

Notes:
The Central Board of Indirect Taxes and Customs (CBIC) has mandated to mention the 8- digit HSN code or tariff code for 49 chemical-based products.
The HSN (Harmonised System of Nomenclature) code should be mentioned while issuing the Goods and Services Tax (GST) invoice. At present, businesses mention up to 4-digit tariff code, while issuing invoice. This new direction is expected to curb tax evasion.

Notes:
As per the provisional 2020 State of the Global Climate report released by U.N.’s World Meteorological Organization (WMO), the last 6 years from 2015 to 2020 are the hottest years on record.
The report has stated that the average global temperature in 2020 would be 1.2 degrees Celsius above the pre-industrial level

Notes:
During the India-Oman virtual dialogue recently held, Oman announced to establish first-of-its-kind Oman-India Friendship Association.
This is the first such initiative in West Asia led by the Foreign Ministry. In December 2019, India and Oman signed a Maritime Transport Agreement during the visit of Foreign Minister Jaishankar to the country.

Notes:
The Union Ministry of Information and Broadcasting has recently issued an advisory to all the private satellite channels to ensure that no advertisements that promote prohibited activities are telecasted.
The advisory mentioned that advertisements on online gaming, betting and fantasy sports were misleading and are inconsistent with the Ministry’s Advertising Code.

Notes:
The Special Borrowing Window to make good the GST Compensation Cess shortfall is operationalised by the Union Finance Ministry.
All states and 3 Union territories have opted for the “option 1”, under which centre has set up the special borrowing window under which the Government would borrow funds to be passed on to the states.