Current Affairs Quiz - February, 2021

Notes:
Environment Minister Prakash Javadekar launched the Indo-French year of Environment along with his French counterpart.
India and France have environment projects being undertaken in Assam, Rajasthan and a project to be started in Jharkhand. The objective of this event is to strengthen Indo-French cooperation in sustainable development.

Notes:
The Budget Session of Parliament recently began with the address of President Ram Nath Kovind to the joint sitting of both Houses of Parliament.
During the address, the President mentioned that the ‘Amrut Mahotsav’ will be observed in the country from this year, to mark commencement of the celebrations towards the 75th year of India’s Independence.

Notes:
According to the performance index compiled by the Sydney-based Lowy Institute, New Zealand handled the pandemic the most effectively.
India is ranked 86th in the index comprising 98 countries, which measures several key indicators including confirmed cases, deaths, cases per million people and deaths per million people. New Zealand is followed by Vietnam and Taiwan while Brazil is the worst performing country.

Notes:
The central government has recently announced the closure of the government owned Scooters India Limited, on account of persistent losses posted by the company. The company was incorporated in the year 1972 and is headquartered at Lucknow.
The company has presently 100 employees and has been manufacturing three wheelers in the name of Vijai Super, Vikram and Lambro.

Notes:
IN FAC T-81 is the Indian Naval Fast Attack Craft of the Super Dvora MK II class, which served the nation successfully for more than 20 years in surveillance and Search & Rescue.
It was recently decommissioned at Naval Dockyard, Mumbai. It is a 25-meter-long vessel with 60 tonnes displacement and was built at Goa Shipyard Ltd in collaboration with an Israel manufacturer. The INFAC was commissioned into the Navy in 1999.

Notes:
The Reserve Bank of India has recently announced a framework to strengthen the grievance redress mechanism in Banks. The framework mandates all banks (excluding regional rural banks) to have enhanced disclosures on complaints.
This move of Reserve Bank comes at the back drop of increase in customer complaints in the banking industry in the recent years.

Notes:
According to the World Health Organization (WHO), India has the highest number of new cases of leprosy in the world annually.
India is followed by Brazil and Indonesia in the largest number of cases. In India, more new cases are reported from the rural belts of Bihar, Lakshadweep, Dadra and Nagar Haveli. January 31 is observed as World Leprosy Day.

Notes:
As per the latest Budget presented by the Union Finance Minister, the Fiscal Deficit of our economy is estimated at 9.5% of GDP for the current financial year. The same is expected to be at 6.8% of GDP for FY 2021-22.
The budget estimate of expenditure for next FY (2021-22) is Rs.34.83 lakh crore.

Notes:
The FDI limit in Indian insurance companies increased to 74% in 2021. The Insurance Act, 1938 was amended to permit up to 100% foreign direct investment from February 5, 2026. Foreign investors and FPIs can now collectively own 100 percent equity in Indian insurance companies, according to the Sabka Bima Sabki Raksha Act, operative from February 2026. This act ended all previous sectoral FDI cap restrictions.

Notes:
Lieutenant General C P Mohanty assumed charge as the Vice Chief of the Army Staff. Prior to this appointment he was the Army Commander of the Southern Army.
The area of responsibility of the Southern Army includes 11 states and four Union Territories. C P Mohanty has replaced the previous Vice Chief of the Army Staff, Lieutenant General Satinder Kumar Saini.