Current Affairs Quiz - July, 2020

Notes:
India’s third-largest public sector bank, Bank of Baroda (BoB) has recently launched ‘Insta Click Savings Account’.
This is a completely paperless, digital and self-assisted online savings account. The process uses a new form of digital KYC and Aadhaar-based OTP authentication of the customer. A customer can access the bank’s website to open the account, which gets activated in real-time. Baroda M Connect Plus is to be used for further transactions.

Notes:
South Korea has successfully launched its first military communications satellite named ‘ANASIS-II’, becoming the 10th country in the world to own a military-only communications satellite.
Elon Musk owned private space agency Space X has launched the satellite into space from the Cape Canaveral Air Force Station in the US. The satellite was built by Airbus Space and Defense and was carried by Falcon-9 rocket of SpaceX.

Notes:
Indian leading Private Sector bank Karur Vysya Bank (KVB) has named Ramesh Babu Boddu as the Managing Director & Chief Executive Officer for three years.
The bank’s Board of Directors has also selected Ramesh Babu Boddu as an Additional Director. Three months back, he superannuated as Deputy Managing Director in State Bank of India. KVB is headquartered in Karur in Tamil Nadu and has completed 100 years of operation.

Notes:
India and the United Kingdom has organised the 14th Joint Economic and Trade Committee meeting virtually.
The meeting was co-chaired by Minister for Commerce and Industry Piyush Goyal and UK Secretary of State for International Trade, Elizabeth Truss. Both the countries confirmed their shared commitment to a Free Trade Agreement.

Notes:
According to the recently released United Nations World Wildlife Crime Report, India and Thailand supplied highest illegal tiger products in the world.
It also highlighted that the biggest destination of the tiger parts was China, followed by Thailand and Vietnam. The most valuable body part of the tigers is their bones which are used to treat bone and ligament injuries in humans.

Notes:
The Food and Agriculture Organization (FAO) of the United Nations releases the Global Forest Resources Assessment (FRA)’ report.
FAO has been publishing this assessment once in every 5 years since 1990. It evaluates the state of forests and their management in all member countries. As per the recent report, India has ranked third among the countries that gained in forest areas in the last decade (2010-2020). China and Australia held the first two ranks.

Notes:
As per the latest report released by the Ministry of Statistics and Programme Implementation (MoSPI), about 403 infrastructure projects are hit by cost overruns of Rs 4.05 lakh crore.
Due to delays and other reasons, the projects each worth Rs 150 crore or more have been affected by overruns. MoSPI monitors infrastructure projects worth Rs 150 crore and above. Out of the 1686 projects, while 403 ones reported cost overruns and 530 projects reported time escalation.

Notes:
E-commerce major Flipkart has launched a hyper-local delivery service called Flipkart Quick that aims to deliver products in 90 minutes.
The company also expands its services to sell perishable goods, including fruits, vegetables, and milk among others. Flipkart is to begin the services in Bengaluru initially and will expand them throughout the country. Earlier, it had launched Flipkart Wholesale ecosystem.

Notes:
Union Finance Minister Nirmala Sitharaman has recently attended the 5th Annual Meeting of Board of Governors of Asian Infrastructure Investment Bank (AIIB).
A roundtable discussion was conducted on the theme ‘AIIB 2030-Supporting Asia’s Development over the Next Decade’. The bank had earlier provided a financial assistance of about USD 10 billion to combat Covid-19.

Notes:
The Union Cabinet has approved the change in the name of Union Ministry of Human Resource Development.
The HRD Ministry that is currently headed by Ramesh Pokhriyal Nishank, has been renamed as Ministry of Education. The name change was a key recommendation of the National Education Policy. In 1985, Former Prime Minister Rajiv Gandhi changed the name of the Education Ministry to HRD Ministry.