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:
China-based technology major Xiaomi has announced “Mi Air Charge”. It is a new wireless charging technology that has been patented by the company.
This device lets users to charge multiple electronic devices without any cables, pads, or wireless charging stands. But Xiaomi has stated that this device is still in the concept phase and will not be available commercially in the near future.

Notes:
Leprosy, also known as Hansen’s disease, is an infectious disease caused by a bacillus Mycobacterium leprae. It is named after the Norwegian physician Gerhard Armauer Hansen, who identified the bacterium.
World Leprosy Day is celebrated on the last Sunday of January every year to increase awareness on the disease. In India, the day is being observed on January 30 this year, on the death anniversary of Mahatma Gandhi.

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:
The 15th Finance Commission headed by NK Singh, with 117 core recommendation, has tabled its report in the Parliament recently.
The Finance Commission maintained the vertical devolution of taxes with the states at 41%. The divisible pool of financial resources is recommended at 42%, with 1% adjustment made for change of status. So, the vertical devolution of taxes to the states stands at 41%.

Notes:
PM AtmaNirbhar Swasth Bharat Yojana, a new centrally sponsored scheme has been announced in the Union Budget 2021-22. The scheme would be launched with an outlay of Rs.64,180 crore over a period of 6 years.
The scheme aims to develop capacities of primary, secondary, and tertiary care Health Systems.

Notes:
In the recent Union Budget, the Finance Minister announced that all social security benefits will be extended to gig and platform workers.
Minimum wages will be ensured to all categories of workers. All those workers will also be covered by the Employees State Insurance Corporation (ESIC). She also announced that women will be allowed to work in all categories and in the night-shifts with adequate protection.

Notes:
The Supreme Court has directed Franklin Templeton Mutual Fund to distribute Rs 9,122 crore to unitholders of the six schemes that were shut by the company in April 2020.
SBI Mutual Fund has been directed to carry out the process of disbursement. Franklin Templeton has been mandated to distribute the said money within twenty days from the date of order.

Notes:
NITI Aayog has recently released the ‘Sustainable Development of Little Andaman Island – Vision Document’.
As per the document, it has proposed a plan for the sustainable development of the 680 sq km Little Andaman Island in the Andaman and Nicobar island group. A new greenfield coastal city is to be developed as a free trade zone to compete with Singapore and Hong Kong.

Notes:
A team of researchers have discovered a new gecko species in the state of Arunachal Pradesh.
The new species belongs to the genus Cyrtodactylus also known as bent-toed geckos. The species was named as Cyrtodactylus arunachalensis after the state of Arunachal Pradesh, in which it was discovered.