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:
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 World Bank has approved USD 250 million loan for affordable housing projects of Tamil Nadu. The Government of India, state government of Tamil Nadu and the World Bank has signed legal agreements regarding the project.
Out of the total loan, USD 200 million is approved for First Tamil Nadu Housing Sector Strengthening Programme and USD 50 million for Tamil Nadu Housing and Habitat Development Project. It aims to ease regulatory barriers and encourage private sector participation in affordable housing.

Notes:
International Zinc Association (IZA) has launched Asia’s first-ever Continuous Galvanized Rebar (CGR) manufacturing facility in Punjab.
The project would be supported by Hindustan Zinc Limited. It has been launched in collaboration with a private manufacturing company Madhav KRG Group. The new product called Continuously Galvanized Rebars (CGR) are value added rebars for better life and lower maintenance. Rebar is the short form of Reinforced Bar.

Notes:
The United States has recently eliminated the special status under U.S. law and halted Defence Exports to Hong Kong.
U.S has also restricted the access of the country to high technology products. This decision has been taken while China is preparing new Hong Kong security legislation. U.S also proposed to end the export of dual-use technologies to the territory, which have both commercial and military uses.

Notes:
The United States-Mexico-Canada Agreement (USMCA) is set to replace the 25-year-old NAFTA (North American Free Trade Agreement).
The renegotiated deal comes into effect from July 1. USMCA is a trilateral agreement between three countries namely the United States, Mexico and Canada. The deal was originally signed in 2018 and since then the countries have been working to implement the new deal. It seeks to support the technology sector and include USD 600 million to address environmental problems.

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 President of France Emmanuel Macron has named Jean Castex as the next French Prime Minister.
The previous Prime Minister Edouard Philippe had resigned earlier. The President has reshuffled the Government to restart the country’s economy. Jean Castex is a 55-year-old public servant, who has also coordinated the re-opening strategy in the country.

Notes:
Ace Chinese Badminton player Lin Dan has recently announced his retirement form sports, at the age of 36.
Lin Dan won the gold medal at Beijing (2008) and London (2012) Olympics. He is considered as one of the greatest players of the sport. He was also a five-time World champion and a six-time All England champion.

Notes:
Indian Council of Medical Research (ICMR) has partnered with Bharat Biotech for development of potential COVID-19 vaccine called Covaxin.
The Drugs Controller General of India has granted permission to conduct phase-1 and 2 human clinical trials. Recently, ICMR has announced that it is acting in accordance with the globally accepted standards to develop the vaccine.