Current Affairs Quiz - July, 2020

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:
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 Union Human Resources and Development Ministry has set up a committee under the Chairperson of University Grants Commission (UGC) D P Singh.
The committee will give suggestions on retaining Indian students in the country’s institutions. The Minister also said that the seat capacity in all premier institutions would be increased by 50% by 2024. Under this plan, the number of institutions under the Institutes of Eminence (IoE) programme will also go up to 50.

Notes:
Indian Overseas Bank (IOB) announced that Partha Pratim Sengupta has been appointed as its new Managing Director and Chief Executive.
He was a former Deputy Managing Director at the State Bank of India (SBI). The appointment is made up to the date of attaining the age of superannuation in 2022. He is to succeed the previous MD & CEO Karnam Sekar.

Notes:
India and the European Union are set to renew the Agreement on Scientific cooperation for the next five years, 2020-2025.
This was announced at the virtual 15th India-EU Summit, attended by Prime Minister Narendra Modi. European Council President Charles Michel and European Commission President Ursula von der Leyen led the EU. The mentioned Agreement was initially signed in 2001 and has been renewed two times in 2007 and 2015.

Notes:
India and Pakistan fought the Kargil War between May and July in the year 1999. India launched ‘Operation Vijay’ and cleared the posts in the Kargil sector that was occupied by the Pakistani soldiers on the Indian side of the Line of Control (LoC).
To commemorate its victory over Pakistan, India has been observing ‘Kargil Vijay Diwas’ on July 26 every year, on the day the war ended. It resulted in 527 deaths in the Indian side. On the Vijay Diwas, India pays tributes to the soldiers who laid down their lives during the war.

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:
Delhi Chief Minister Arvind Kejriwal has recently launched a dedicated job portal, to revive economy amid the Covid-19 pandemic.
The portal (jobs.delhi.gov.in) named Rozgar Bazar will connect the recruiters with the job aspirants. The Chief Minister asked the traders, businessmen, industrialists and people to work together in reviving the UT’s economy.

Notes:
The government has released guidelines for four schemes to boost domestic manufacturing of bulk drugs and medical devices.
Union Minister for Chemicals and Fertilizers DV Sadananda Gowda launched and issued guidelines for the schemes, which aim to reduce imports in pharmaceutical raw materials like drug intermediates, active pharmaceutical ingredients (APIs) and medical devices.