Current Affairs Quiz - February, 2021

Notes:
Union Minister of Health & Family Welfare addressed the event on Restoring Cross Border Mobility, through video conference.
The event was organised by World Economic Forum’s Common Trust Network, to discuss the policies and partnerships required to reopen borders and enable essential travel, tourism and commerce in a safe and sustainable method.

Notes:
India conducted the 5th Act East Forum (AEF) meet with Japan and both the countries reviewed progress of various ongoing projects in the North-eastern region.
India’s ‘Act East Policy’ and Japan’s vision for a ‘Free and Open Indo-Pacific’ are realised through the Act East Forum, which also provides a collaborative platform in the North Eastern Region. The meeting was co-chaired by Foreign Secretary Harsh Vardhan Shringla.

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 Ministry of Corporate Affairs (MCA) has recently introduced several changes to the Corporate Social Responsibility (CSR) Rules.
It includes mandatory “Impact Assessment” for big CSR projects. It also includes mandatory disclosure of all CSR projects and the CSR Committee’s composition on the company’s website.

Notes:
The Indian construction major L&T Construction, has bagged the contract for building 28 steel bridges for Mumbai and Ahmedabad bullet train project.
The order costs about Rs.1000 crore to Rs.2500 crore. It involves procurement, fabrication, assembly and erection of bridges at various sites in the line. This project has been bagged as a consortium of L&T and Japan’s IHI Infrastructure Systems.

Notes:
Sandro Botticelli, was an Italian painter, who lived from 1445 to 1510 in Florence, Italy. He is said to be an important artist who have contributed to Florentine painting period.
Recently, one of his rare portraits, the “Young Man Holding a Roundel” was sold for USD 92.2 million (equivalent to Rs 6,722 million) at an auction held at Sotheby’s in New York. This also made a world record auction for any work by the Italian artist.

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:
China is the largest producer of silk, in the world. It is followed by India in the second place. India is the only country in the world which produces all four major varieties of silk namely – Mulberry, Eri, Tassar, and Muga.
Recently, the Textiles Minister Smriti Irani inaugurated India’s biggest silk fair, the 8th India International Silk Fair. It is held on the virtual platform of Indian Silk Export Promotion Council.

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:
Punjab Chief Minister Captain Amarinder Singh virtually launched the ‘Har Ghar Pani, Har Ghar Safai’ mission.
This scheme is a part of the government’s campaign to provide 100 per cent potable piped water supply in all rural households by March 2022. The Chief Minister also launched ‘Mega Surface Water Supply Scheme’.