Current Affairs Quiz - July, 2020

Notes:
The Ministry of Micro, Small and Medium Enterprises (MoMSME) has signed a Memorandum of Understanding (MoU) with the Central Board of Direct Taxes (CBDT) for sharing of data.
Under the MoU, certain Income-tax Return (ITR) related information will be seamlessly shared by the Income Tax Department to Ministry of MSME. With this data, the Ministry will be able to check and classify the enterprises, as per the MSME category.

Notes:
Union Bank of India that was amalgamated with Corporation Bank and Andhra Bank, has announced a corporate agency agreement with the Life Insurance Corporation of India (LIC).
Under the agreement, the bank will market various LIC products including term insurance, pension and endowment schemes among others, to its account-holders.

Notes:
Union Minster for micro, small and medium enterprise (MSME) sector Nitin Gadkari launched a mentoring platform named ‘RestartIndia’.
The platform has been conceptualised by Muthoot Fincorp and INKtalks. Restart India is a single platform which provides information on various schemes being implemented by the government. It also helps the businesspersons to connect with experts from various sectors.

Notes:
Department of Science and Technology has launched a 15-crore fund to support India-Russia Joint Technology Assessment and Accelerated Commercialization Programme.
The fund has been launched in partnership with the Federation of Indian Chambers of Commerce and Industry (FICCI) and Foundation for Assistance to Small Innovative Enterprises (FASIE) of Russia. Start-ups from India and Russia will work together for technology development and cross-country technology adaptation. FICCI will implement the program in India.

Notes:
Turkmenistan became the 25th country with a status of an observer in the World Trade Organization (WTO).
The member-states of the WTO General Council unanimously adopted the resolution on granting the status of an observer in WTO to the Central Asian country. There are 164 WTO member-states at present and 25 countries possess the status of an observer including Turkmenistan.

Notes:
Reserve Bank of India releases a bi annual report called the financial stability report (FSR). The latest edition was released recently.
RBI has estimated that the gross non performing asset (GNPA) ratio of all banks may increase from 8.5% in March 2020 to 12.5% by March 2021. GNPA ratio of public sector banks will increase to 15.2% in March 2021. The main reason for this dip is the slowdown in the economy due to the Covid-19 induced lock-down.

Notes:
Union Minister of Agriculture and Farmers’ Welfare Narendra Singh Tomar has virtually inaugurated a world-class Honey Testing Laboratory.
The state of Art laboratory has been established by National Dairy Development Board (NDDB) with support of National Bee Board (NBB), in Anand, Gujarat. Department of Agriculture, Cooperation & Farmers’ Welfare has approved the National Bee Keeping and Honey Mission (NBHM) for a period of 2 years.

Notes:
The Oxford-AstraZeneca vaccine candidate is to be called as ‘Covishield’ in India, as per the statement of the Serum Institute of India (SII).
SII is the largest vaccine maker in the world and it has partnered with AstraZeneca for manufacturing the Oxford vaccine candidate. Recently, it has sought permission from the Drugs Controller General of India (DCGI) to conduct phase 2 and 3 human clinical trials of the potential vaccine.

Notes:
The India-Indonesia Defence Ministers’ Dialogue was held in New Delhi. Defence Minister Rajnath Singh led the Indian delegation while Indonesia’s Defence Minister General Prabowo Subianto led their delegation.
Both the countries affirmed to further expand defence and military ties between the countries in areas including technology sharing. The countries had signed a new defence cooperation agreement in 2018 for a comprehensive strategic partnership.

Notes:
As per the latest United Nations policy brief on’COVID-19 in an Urban World’, the capital city of India New Delhi has witnessed a drop in levels of nitrogen dioxide by more than 70%, during lock-down.
The UN also highlighted that if the cities re-open without policies to prevent air pollution and promote de-carbonisation, this environmental gains could only be temporary. It also said that urban areas are the epicentre of the pandemic, with estimated 90 per cent of all reported cases.