Current Affairs Quiz - July, 2020

Notes:
According to the guidelines issued by the insurance regulator, the Insurance Regulatory and Development Authority (IRDAI) has directed the general and health insurance companies to offer one short-term Covid-19 policy.
Named as the “Corona Kavach Policy”, the standard health policy would have a tenure period of 3.5 months to 6.5 months, and 9.5 months. As per the guidelines, the mode of payment would be a single premium. Another policy called Corona Rakshak, a standard benefit policy is also to be launched.

Notes:
The President of India has re-appointed K.K. Venugopal as the Attorney General (AG) of India for one more year. The Appointments Committee of the Cabinet (ACC), headed by Prime Minister approved the extension in term of Tushar Mehta as the Solicitor General (SG) for three years.
Six new Additional Solicitors General (ASGs) were appointed and tenure of five existing Additional Solicitors General (ASGs) was extended. Venugopal took over as the AG in 2017, succeeding Mukul Rohatgi.

Notes:
The Ministry of Road Transport and Highways (MoRTH) is set to launch a cashless scheme for road accident victims.
The Ministry is to establish a Motor Vehicle Accident Fund under its aegis, for implementing the scheme. It will have an insurance coverage cap of Rs 2.5 lakh per case and enables all road accident victims of Indian or foreign nationality, to be eligible.

Notes:
The Union Home Ministry has extended the Armed Forces (Special power Act) (AFSPA) in Nagaland, for six more months.
The whole state has been declared as a “Distributed area” for a period of six months with effect from 30th June. This has been exercised under the powers provided by section 3 of the AFSPA Act. Earlier, Nagaland Governor R. N Ravi has written to the Chief Minister that the law and order has collapsed in the state.

Notes:
Edelweiss Asset Management Company manages the Bharat Bond Exchange Traded Fund (ETF). It has formally launched the second series of the ETF.
During December 2019, it had launched the first series. With this tranche, the fund house seeks to raise up to Rs 14,000 crore from retail and institutional investors. Bharat Bond ETFs invest in AAA-rated papers of public sector companies (CPSEs and PSEs).

Notes:
The Government of Maharashtra’s industrial infrastructure development agency, Maharashtra Industrial Development Corporation (MIDC) has recently signed a MoU with UK India Business Council.
The agreement aims to promote sustainable business relations between UK and India. This will help the state to develop its business environment and promote its partnership with the British business.

Notes:
United Kingdom Minister Rishi Sunak has recently unveiled a dedicated 1.57 billion pounds rescue package for arts, culture and heritage industries.
Under the rescue package, affordable loans will be provided to the industries across the country, that employ more than 700,000 people. Thousands of organisations including performing arts and theatres, museums etc will be benefitted.

Notes:
The Defence Research and Development Organisation (DRDO) has signed an MoU with Indian Institute of Technology, Hyderabad to establish a Research cell at the IIT.
The Defence research cell aims to meet the upcoming defence technological requirements of the country. This DRDO – IITH Research Cell will conduct research programmes in specific technology areas. This will be established as an extension of the DRDO Research and Innovation Centre (RIC), Chennai.

Notes:
As per the recent communication from the Central Board of Indirect Taxes and Customs (CBIC), all custom stations would set up Turant Suvidha Kendras (TSKs) by July 15.
The centres would act as the only interface point with Customs officers for physical submission of documents. The Union Budget 2020 proposed to launch nation-wide faceless assessment and this is considered as the first step in the process. CBIC has also inducted several modern testing equipment into the Central Revenues Control Laboratory.

Notes:
The Union Cabinet has granted its approval for developing Affordable Rental Housing Complexes (AHRCs) for urban migrants and poor as a sub-scheme under Pradhan Mantri Awas Yojana – Urban (PMAY-U).
Ministry of Housing & Urban Affairs (MoHUA) has initiated an Affordable Rental Housing Complexes (ARHCs) sub scheme in May 2020. Nearly three lakh beneficiaries will be covered initially under the ARHC scheme.