Current Affairs Quiz - July, 2020

Notes:
The Union Government has announced the launch of Taxable Floating Rate Savings Bonds, 2020, that will be available for subscription for retail investors from July 1, 2020.
The bonds are issued by the Reserve Bank of India on behalf of the Government, replacing the recently withdrawn 7.75% bonds. The interest rate on these bonds will be reset every six months while the initial rate of interest is fixed at 7.15 per cent. The bonds shall be repayable on the expiration of seven years from the date of issue.

Notes:
ASEAN (Association of Southeast Asian Nations) leaders have met during the recent annual summit held via video conference.
ASEAN is a regional association with 10 member countries including Indonesia, Thailand, Vietnam, Singapore, Malaysia, Philippines, Cambodia, Myanmar (Burma), Brunei, Laos. The Chair of ASEAN in 2020 is Vietnam, which hosted the virtual summit, due to travel restrictions amid the Covid-19 pandemic.

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 Indian Air Force has successfully designed and developed an Airborne Locust Control System on Mi-17 helicopters to tackle the locusts attack.
The machine developed by the Indian Air Force can help in spraying pesticides over 750 hectares of affected land in a single mission. Union Agriculture Minister has also ordered for five aerial spray machines from United Kingdom, to deploy in IAF helicopters for locust control.

Notes:
The Ministry of Home Affairs (MHA) has constituted a national level committee for reform in criminal law.
The committee is to be headed by Ranbir Singh, who is the Vice-Chancellor, National Law University-Delhi. The committee has many veteran legal academicians and it has invited opinions online on the possible reforms in the Indian Penal Code, Code of Criminal Procedure and Indian Evidence Act.

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:
The Union Government has recently launched the Special Liquidity Scheme improve the liquidity of Non-Banking Finance Companies (NBFCs) and Housing Finance Companies (HFCs).
The corpus of the scheme is Rs 30000 crore rupees and it was launched through a Special Purpose Vehicle in the form of a trust set up by SBI Capital Markets. The Union Government will provide unconditional and irrevocable guarantee to the special securities issued by the Trust.

Notes:
The Defence Acquisition Council (DAC) has approved the proposal for procurement of 21 MiG-29 and upgradation of existing 59 MiG-29 aircraft from Russia at a cost of Rs 7418 crore.
It has also approved the procurement of 12 Su-30 MKI aircraft from Hindustan Aeronautical Ltd, at an estimated cost of Rs 10,730 cr. DAC cleared the acquisition of 248 Astra Beyond Visual Range air-to-air missiles for the Indian Air Force and the Navy. Other important equipment required by the Armed Forces were also approved for Rs 38,900 crore.

Notes:
The Cabinet Secretary of India Rajiv Gauba has ordered to revamp the e-SamikSha platform of the Indian Government.
It is a real time, online system for monitoring projects and decisions taken by the Union government and the follow-up actions by ministries. In the revamped platform, additional information related to milestones with target dates, beneficiary states and districts will also be captured.

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.