Current Affairs Quiz - July, 2021

Notes:
The Union Government has decided to set up the Indian Institute of Heritage in Noida, as an umbrella body under which all heritage institutes in the country will operate.
The institute will offer masters and PhD courses in history of arts, archaeology, manuscriptology among others. It will be a “deemed to be university” institute formed by integrating the Institute of Archaeology, National Research Laboratory for Conservation of Cultural Property, National Museum Institute of History of Conservation and Museology (NMICHM) and the academic wing of Indira Gandhi National Centre for the Arts.

Notes:
Hilsa, the pricey fish has been caught in Uttar Pradesh, Bihar and Jharkhand for the first time in three decades. The fish lives in the seas but spawns in the rivers.
This has been witnessed after the gates and fish locks of Farakka barrage were changed to allow the upstream migration of the fish. Hilsa or ilish, has been the favourite gift to Indian leaders from the Bangladesh Prime Minister Sheikh Hasina. It depleted after the Farakka barrage was constructed in the Murshidabad district of West Bengal and nets were put on the Bangladesh side.

Notes:
The Asian Development Bank, headquartered in the Philippines, has released the Asian Development Outlook (ADO).
The report has downgraded India’s economic growth for the financial year 2021-22 to 10 per cent from its earlier projection of 11 per cent. This downgrade is on account of the severe impact of Indian economy due to wave 2 of COVID 19 pandemic. The projection for 2022-23 is upgraded from 7 per cent to 7.5 per cent.

Notes:
As on June 25, 2021, India’s forex reserves stood at US$ 608.99 billion, making India the fifth largest foreign exchange reserves holder in the world. China, Japan, Switzerland and Russia are ahead of India in the list of largest forex reserves holdings.
India’s forex reserves comprise of Foreign Currency Assets, Gold, Special Drawing Rights and Reserve Tranche Position (RTP) in IMF.

Notes:
The International Olympic Committee President Thomas Bach has announced that the Australian city of Brisbane has been selected to host the 2032 Summer Olympics.
The Games of the 35th Olympiad are awarded to Brisbane, Australia. With this, Australia has become the second country after the United States to host the Olympic Games in three different cities. Before this, Melbourne had hosted Olympics in 1956 and Sydney in 2000.

Notes:
The Insolvency and Bankruptcy Board of India (IBBI) was established in the year 2016, under the Insolvency and Bankruptcy Code, 2016.
Recently, IBBI has made amendments to the “Insolvency Resolution Process for Corporate Persons Regulations”, under which, resolution professional should submit his / her opinion on avoidance transactions made by a corporate debtor (undervalued transactions, extortionate credit transactions, fraudulent trading, wrongful trading etc).

Notes:
The Union Cabinet approved the establishment of a central university in Ladakh, at a cost of Rs 750 crore.
The jurisdiction of this university will cover the regions of Leh and Kargil. The Education Ministry is expected to bring two amendments to the Central Universities Act, 2009 for this matter. The government has identified a location near village Khaltsi, which is located between Leh and Kargil.

Notes:
Sumit Nagal became only the third Indian to win a men’s singles match at an Olympics edition and the first in 25 years, when he defeated Denis Istomin in the first match at Tokyo Games.
Zeeshan Ali was the first Indian to win a singles match at the 1988 Seoul Games when he beat Victo Caballero from Paraguay. After that, Leander Paes won the men’s singles bronze at the 1996 Atlanta Games, beating Brazil’s Fernando Meligeni.

Notes:
The Union Government has amended the rules pertaining to incorporation of companies under the Companies Act, 2013. The Corporate affairs ministry, which is implementing the Companies Act, 2013, has amended the Companies (Incorporation) Rules, 2014.
Changes are made with respect to allotment of a new name to an existing company under Section 16 of the Act. The changes will come into effect from September 1.

Notes:
Reserve Bank of India (RBI) has modified rules for extending loans to directors of other banks and relatives of directors.
As per the amendments, banks can extend personal loans up to ₹5 crore to directors of other banks and directors’ relatives other than spouses without board approval. The earlier limit for such loans was ₹25 lakh. The regulations apply to directors, including the CMD of other banks, any firm in which they are interested as a partner or guarantor, or any company in which they hold interest.