Current Affairs Quiz - February, 2021

Notes:
As per a recent report by Alvarez & Marsal India, as at September 2020, it took an average of 440 days for resolving 277 cases approved by the NCLT under the IBC.
The report stressed on the need for time-bound resolution of stressed assets and enhancing the resolution processes under Insolvency and Bankruptcy code as recovery percentages fell sharply to 15-25 % whenever there is an increase in time taken for resolution.

Notes:
The Economist Intelligence Unit (EIU) has recently released an index named “’Asia-Pacific Personalised Health Index”.
India has ranked 10th out of 11 Asia Pacific countries in the index. This index measures the readiness of 11 countries – Australia, China, Japan, India, Indonesia, Malaysia, Singapore, South Korea, Taiwan, Thailand and New Zealand in adopting personalised healthcare.

Notes:
Union External Affairs Minister S Jai Shankar recently delivered his virtual keynote address at the All-India Conference of China Studies.
During the conference, he proposed Eight Guiding principles to repair the strained relations of India with China. He also highlighted the disturbance in their ties due to the stand-off at Ladakh sector of the Line of Actual Control (LAC).

Notes:
Swami Vivekananda started the ‘Prabuddha Bharata’, a monthly journal of the Ramakrishna order in 1896, to spread the message of India’s spiritual knowledge.
Prime Minister Narendra Modi addressed the 125th Anniversary celebrations of ‘Prabuddha Bharata’ organized by Advaita Ashrama in Uttarakhand. It is the place of publication of the journal. Several leaders like Netaji Subhas Chandra Bose, Bal Gangadhar Tilak, and Sri Aurobindo have contributed to the journal.

Notes:
India exported 4.45 million tonnes basmati rice (worth USD 4.33 billion) in financial year 2019-20. It has a 65 per cent share in global basmati trade.
Pakistan makes the rest of the global trade. Recently, Pakistan’s basmati rice has received a Geographical Indication (GI) registration within the country. India has applied to the EU for the GI tag for its basmati rice in September 2020. Both countries are exporting basmati to the EU without a GI tag from it.

Notes:
As per a recent research published in the journal “Nature”, the number of shark and ray in Indian ocean have declined by 84.7% and has been falling continuously since 1970.
The research noted that oceanic sharks and rays worldwide has fallen by 71% since the last 50 years. Also, 24 out of 31 oceanic shark and ray species are presently classified as vulnerable, endangered or critically endangered on the IUCN Red List.

Notes:
The ‘Neptune Declaration on Seafarer Wellbeing and Crew Change’, is a declaration released by the global maritime industry recently.
The declaration focusses on recognising seafarers as key workers by all governments in line with the UNGA resolution adopted recently. The Maritime Union of India (MUI) urged the Centre to consider the declaration while formulating ‘Maritime India Vision 2030’.

Notes:
The Reserve Bank of India (RBI) has appointed an external professional IT firm to carry out a special audit of the entire IT infrastructure of the bank
Earlier, the RBI had penalised the HDFC bank for repeated service failures in internet banking, mobile banking, and payment utilities. This step has been taken by the RBI using the powers conferred under the Banking regulation act, 1949.

Notes:
The Oxford group has selected ‘Aatmanirbharta’ as the Oxford Hindi word of 2020. In Hindi language, it means self-reliance.
Previous Hindi words of the year selected by Oxford are ‘Aadhar’ (2017), ‘Nari Shakti’ (2018) and ‘Samvidhaan’ (2019). Following the prime minister’s address, there was a significant increase in the usage of ‘aatmanirbharta’ following the Prime minister’s address.

Notes:
The Appointments Committee of the Cabinet (ACC) has approved the appointment of Siddhartha Mohanty as the new Managing Director of the Life Insurance Corporation (LIC) of India.
He is currently serving as the Managing director (MD) and chief executive officer (CEO) of LIC Housing Finance. Siddhartha Mohanty has replaced TC Suseel Kumar, who retired on January 31, 2021. LIC has four Managing Directors and one Chairman.