Current Affairs Quiz - July, 2020

Notes:
The fifteenth summit between India and the European Union (EU) is scheduled to be held on July 15, through video conferencing.
Prime Minster Narendra Modi is to represent India. The President of European Council, Charles Michel and the President of the European Commission, Ursula von der Leyen will represent the EU. The summit was supposed to be held in March and Indian Prime Minister was scheduled to visit Brussels, the capital of EU.

Notes:
Reliance Industries (RIL) and the UK-based oil company BP, to start their new fuel retail and mobility joint venture (JV).
As per the joint statement released by the companies, the newly launched JV company is named as Reliance BP Mobility (RBML). Moreover, the JV will begin to rebrand RIL fuel retail outlets to Jio-BP. The new company also aims to provide electric vehicle charging facilities.

Notes:
The United Arab Emirates has recently announced its plans to send its first Mars mission and it has become the first Arab country to do so.
Until now, only the United States, India, USSR and the European Space Agency have successfully sent their Mars orbiter missions. China is in the process of launching its first Mars rover. The Mohammed Bin Rashid Space Centre (MBRSC) is heading the Mars project of the UAE.

Notes:
The Insurance Regulatory and Development Authority (IRDAI) has constituted a working group to study feasibility of forming a ‘pandemic risk pool’.
A pool is proposed to be formed, which addresses the risks that are arising out of the pandemic. The existing insurance laws do not cover business interruption losses and this pool is aimed to address this issue. The panel is expected to submit its report in eight weeks.

Notes:
The incumbent President of Poland, Andrzej Duda has been re-elected to a second term, in a narrow count.
Andrzej Duda was backed by the ruling party, the nationalist Law and Justice (PiS) party. He won with 51.21% of the votes, as per the country’s election committee. Warsaw Mayor Rafal Trzaskowski, of the center-right opposition Civic Platform party (PO) secured 48.79%.

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:
The birth anniversary of Nepali poet Bhanu Bhakta Acharya is celebrated as ‘Bhanu Jayanti’, in the state of Sikkim.
The poet is revered in Nepali Literature as ‘Adikavi’ and he is said to have laid the foundation of the Nepali literature. He had also translated several religious scripts from Sanskrit to Nepali. The Governor Ganga Prasad and Chief Minister Prem Singh Tamang participated in the commemorative event.

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:
The flagship initiative of NITI Aayog, Atal Innovation Mission, (AIM) has launched a programme named ‘Demo-Days’.
The programme aims to identify start-ups with potential Covid-19 innovations and help them develop their ideas into workable solutions which will be deployed across the country. This was launched in partnership with other state-owned bodies including BIRAC, DBT, DST, Start-up India etc.

Notes:
The ‘World Youth Skills Day’ is celebrated across the world on July 15 every year, across the world. The United Nations General Assembly declared the day in the year 2014.
It highlights the importance of training young people with skills for decent employment and entrepreneurship. As per the announcement from the United Nations, several virtual events focussing on the theme of “Skills for a Resilient Youth” will take place, to mark the day. Skill India Mission was launched on the same day, five years ago.