Current Affairs Quiz - July, 2020

Notes:
The head of Reliance Industries Ltd, Mukesh Ambani has moved up to become the fifth richest man in the world, as per the Hurun Research.
Last month, the billionaire was at eighth position in the list. Now, he surpassed Warren Buffet and shares 5th rank with Tesla founder Elon Musk and Former Microsoft CEO Steve Ballmer. His net-worth rose to USD 78 billion. Earlier, Jio platforms had raised Rs 117,588 crore from global investors.

Notes:
TDS is deductible at the rate of 2 % if cash withdrawal of above 1 crore made by a person who is an income-tax payee. While, TDS is deductible at the rate 2 % if cash withdrawal exceeds 20 lakh rupees and at the rate of 5 % if it exceeds one crore rupees, if made by a non-income-tax filer.
The Central Board of Direct Taxes (CBDT) has launched a new tool, through which Banks and Post offices can determine the TDS rates on cash withdrawals, by entering their PAN number.

Notes:
India’s oldest apex industry body Federation of Indian Chambers of Commerce & Industry (FICCI) has projected India’s annual median GDP growth for 2020-21 at -4.5%.
This has been projected in the association’s Economic Outlook Survey in the SBI Banking and Economics Conclave. It had previously predicted India’s growth rate to be 5.5 per cent in the January 2020 survey. In the conclave, RBI Governor said that Indian economy has started showing signs of getting back to normalcy.

Notes:
The Chairperson of the Indian Space Research Organisation, Dr Kailasavadivoo Sivan has been named as the recipient of the 2020 Von Karman Award.
The award was constituted by the International Academy of Astronautics (IAA) and will be conferred in March 2021 in Paris. It is named after the aerospace engineer and aerodynamics expert Theodore von Karman. K Sivan is only the third Indian to receive this award after Kasturirangan and U.R. Rao.

Notes:
Ace British racing driver and six-time Formula One World Champion, Lewis Hamilton has clinched his first victory of the season at Austria’s Styrian Grand Prix.
The 37-year old, who races for Mercedes, raised a clenched fist on the podium in support of anti-racism campaigners. He has also launched a commission to insist diversity in motorsport. The driver is only six wins short from surpassing Michael Schumacher’s all-time record of 91.

Notes:
The CMD of Reliance Industries Limited (RIL), Mukesh Ambani announced at the annual general meeting, that Jio platforms and Google will jointly develop a new Android-based smartphone system.
An entry level affordable smart phone by optimising the Android operating system would be jointly developed by the two giants. Google also announced that it will invest Rs 33,737 crores in Jio for developing 5G technology.

Notes:
The state of Tamil Nadu is set to launch a trial to study the efficacy of the BCG vaccine in reducing mortality due to COVID-19 in the elder people.
The trial, which has been approved by the Indian Council of Medical Research (ICMR), would be taken up by the National Institute for Research in Tuberculosis (NIRT), Chennai. The BCG (Bacille Calmette-Guerin) is being administered to new-born for 50 years as a vaccine against tuberculosis.

Notes:
The BRICS Chamber of Commerce and Industry (CCI) has launched a BRICS CCI Young Leaders Initiative.
The Initiative has been launched with an objective to support and empower young leaders and entrepreneurs. It also aims to provide industry exposure and job opportunities across member nations, to the youngsters.

Notes:
The state government of Andhra Pradesh has recently constituted a high-level committee constitute new districts with Lok Sabha constituency as base.
As per the decision made during the Cabinet meeting presided over by Chief Minister YS Jagan Mohan Reddy, this high-level committee will be headed by the Chief Secretary. The committee will study the feasibility of forming new districts and reducing expenditure.

Notes:
One of the country’s digital payment applications, Fampay has recently launched the country’s first numberless card, targeted at teenagers.
Using these numberless debit cards, minors can make online and offline payments without opening a bank account. The card has no numbers on it and all the details are saved on the FamPay application.