Current Affairs Quiz - December, 2020

Notes:
The Gross Domestic Product (GDP) of India has contracted by 7.5 % in the second quarter of the financial year 2020-21. The contraction in GDP is registered for the second consecutive quarter and hence India is said to have entered ‘Technical Recession’.
The real GDP in the first quarter of 2020-21 (April – June) registered a record low of 23.9% contraction.

Notes:
State Bank of India has partnered with National Payments Corporation of India (NPCI) and Japan’s JCB International Co to launch new ‘SBI RuPay JCB Platinum Contactless Debit Card’.
This card has a dual interface feature, under which customers can use it for both contact and contactless transactions, both in the domestic market as well as overseas. The card has been launched on the RuPay network.

Notes:
Facebook-backed Libra cryptocurrency has been renamed as “Deim” which means “Day” in Latin.
The Libra Association has made this decision in order to gain approval from regulators and to increase its publicity. The new Deim crypto currency is proposed to be launched in early 2021, which would be backed by USD.

Notes:
The cyclone name “Burevi” was suggested by Maldives. The second cyclone approaching India from Bay of Bengal has been named as “Burevi” as per the guidelines of World Meteorological Organisation (WMO).
The storm commenced its course from South West Bay of Bengal and it is the fifth tropical cyclone system that has developed in the Norther Indian Ocean, this year.

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 Reserve Bank of India (RBI) has recently directed HDFC Bank to temporarily halt all its digital launches and new sourcing of credit card customers.
The country’s largest private sector lender has been asked to stop the digital launches as the bank had faced technical glitches in the past two years. RBI also asked the bank’s board to examine the lapses and fix accountability.

Notes:
INS Vikrant is the first indigenous aircraft carrier of India. The sea trials are expected to begin in 2021 and it will be commissioned by 2022.
Also called as the ‘Indigenous Aircraft Carrier 1 (IAC-1)’, INS Vikrant has been constructed by Cochin Shipyard Limited in Kochi, Kerala for the Indian Navy. Recently, the two organisations completed the Basin Trials of the aircraft carrier.

Notes:
The Senate of United States of America has passed a bill which envisages to remove the restrictions on number of employment related immigration visas from a particular country.
This bill has been passed unanimously by the Senate. This relaxed legislation is expected to benefit many Indian professionals in America.

Notes:
The Ministry of Home Affairs has released the rank list of best performing police stations in India.
Nongpok Sekmai Police station in Manipur has topped the list which is followed by the All Women Police Station (AWPS) Suramangalam in Salem of Tamil Nadu. Most of the Police stations in the list are located in South India and in North Eastern India.

Notes:
As per the Union Ministry of Finance, the Indian Economy is registering a V Shaped recovery of GDP. This was expressed in the latest Monthly Economic Review.
The contraction of GDP in Q1 of current financial year was 23.9% where as the economy has contracted by 7.5 % in Q2. Maximum growth is registered by Agriculture sector followed by Construction.