Current Affairs Quiz - July, 2020

Notes:
A Memorandum of Understanding (MoU) was recently signed between the Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes and Customs (CBIC) for data exchange between the two organisations.
This MoU succeeds the agreement signed between them in the year 2015. During the event, a Data Exchange Steering Group has also been constituted that will meet periodically to review the data exchange status.

Notes:
Sumit Deb has been appointed as the Chairman and Managing Director (CMD) of the National Mineral Development Corporation (NMDC), the iron ore mining company of the country.
Sumit Deb is serving as the Director (Personnel) in the NMDC. He succeeds N Baijendra Kumar who is set to superannuate this month-end. After the appointment, Sumit Deb will have tenure till 2023.

Notes:
The ‘Vriksharopan Abhiyan’ is being organised by the Ministry of Coal. The programme involves all coal and lignite PSUs of the country to promote largescale plantation near mines, offices and other suitable residential areas.
Union Home Minister Amit Shah is set to launch the campaign along with Coal Minister Pralhad Joshi. The event will take place through video conference to inaugurate planting in as many as 130 locations across 10 coal and lignite rich states.

Notes:
Social media Giant WhatsApp announced that it is set to partner with banks to expand banking services in India.
India is the biggest market of WhatsApp with over 400 million users. The messaging platform has already collaborated with banks including ICICI Bank and HDFC Bank for automated business messaging. This partnership would help expand banking services for low-income people and in rural areas.

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:
E-Commerce Giant Flipkart has announced that it will acquire parent Walmart’s wholesale business, ‘Best Price’.
The loss-ridden cash-and-carry business of Walmart in India is the last part of Walmart to be acquired by Flipkart marking a complete consolidation. This acquisition is expected to help Flipkart to expand its business-to-business vertical.

Notes:
Japan remains the largest holder of American government securities, at the end of May 2020 with an exposure of USD 1.260 trillion.
India has increased its holdings of American government securities purchased through the Reserve Bank of India (RBI), by nearly USD 13 billion to USD 169.9 billion at the end of May. In February, the country had a record high of USD 177.5 billion worth securities and have seen fluctuations throughout this year.

Notes:
World Hepatitis Day is commemorated each year on 28 July across the world, by the World Helath Organisation.
It is observed to enhance awareness of viral hepatitis, an inflammation of the liver that causes several health problems. This year, the theme of the ‘World Hepatitis Day’ 2020 is “Hepatitis-free future”. Among the five main streams, Hepatitis B and C are the most common cause of deaths.

Notes:
The Cotton Corporation of India (CCI) is to set up its own Cotton warehouse in Vietnam, to boost Exports.
A government-to-government Memorandum of Understanding is also being prepared to export 1.5-2 million bales of cotton to Bangladesh. CCI holds surplus stocks of cotton before the next harvest season and this plan has been made.

Notes:
The world’s first electrified rail tunnel fit to run double-stack containers is being constructed by the Indian Railways in Haryana.
Dedicated Freight Corridor Corporation of India Ltd (DFCCIL) has recently conducted a tunnel-breaking ceremony on completion of caving work for the tunnel of Western Dedicated Freight Corridor (WDFC) through Aravalli mountain range. One among the biggest railway tunnels, it connects Rewari and Dadri and itwill be completed within a year.