Current Affairs Quiz - June, 2020

Notes:
The QS World University Rankings has been released by global higher education consultancy QS Quacquarelli Symonds.
Massachusetts Institute of Technology (MIT) topped the list for the ninth consecutive year, followed by Stanford University and Harvard University all being American. Only three Indian institutions namely IIT-Bombay (172nd), IISc Bangalore (185th) and IIT Delhi (193rd) feature among the top 200 in the list, with none in the top-100.

Notes:
The European Union has recently directed the social media sites Facebook, Google, and Twitter to provide monthly reports on their efforts to curb misinformation on their platform.
The foreign policy head of EU and the Vice President of European Commission announced this direction while addressing the prevalence of misleading news on Covid-19. They also said that the fake news will influence the economy and weaken their health measures.

Notes:
Union Human Resource Development minister Ramesh Pokhriyal Nishank has recently released the National Institutional Ranking Framework (NIRF) Ranking 2020.
As per the ranking, IIT Madras had topped the list of higher education institutions followed by IISc Bengaluru and IIT Delhi in the overall category. In the Management Category, IIM Ahmedabad topped the ranking. Every year, HRD Ministry ranks the institutions of India based on the pre-determined parameters.

Notes:
The Reserve Bank of India (RBI) has constituted an internal working group to review the guidelines on ownership and corporate structure of private sector banks.
The working group will be headed by PK Mohanty, an Executive Director at RBI. The group will examine the licensing guidelines of banking and regulations on ownership of private sector banks. It will also review the regulations on holding of financial subsidiaries through a non-operative financial holding company.

Notes:
Vasant Raiji, India’s oldest first-class cricketer, passed away at his residence in Mumbai, at his 100th year.
Vasant Raiji was a chartered accountant by profession. He was a right-handed batsman and played nine first-class matches for Mumbai and Baroda in the 1940s. He started playing in the Mumbai team under the leadership of Vijay Merchant. He was also a veteran cricket historian.

Notes:
As per the recent notification from the Department of Promotion of Industry and Internal Trade (DPIIT), the annual rate of inflation based on monthly Wholesale Price Index (WPI) contracted to 3.21% in the month of May 2020.
It means that the annual rate of inflation is -3.21% in May 2020. The government had suspended the release of wholesale price index (WPI) data in April, due to the nationwide lockdown. Hence the provisional figures of May are compared with final figures of March.

Notes:
Leading payments bank of India, Airtel Payments Bank has recently launched a salary account for micro, small and medium enterprises (MSME).
Named as the ‘Suraksha Salary’ account, it will enable MSMEs and other organisations to make cashless payments. It also provides Hospicash Insurance and Personal Accidental insurance cover. As of now, it is only available to new customers and will be extended to existing account holders soon.

Notes:
The co-founder and chief executive of digital music platform Qyuki Digital Media, Samir Bangara, recently passed away following a motorcycle accident.
Samir Bangara had served as Managing Director (Digital) at Disney India, before joining the start-up firm Qyuki. In 2012, Director Shekhar Kapur and Oscar-winning musician AR Rahman launched Qyuki in Mumbai. Samir also played an instrumental role in the sale of Indiagames firm to Disney.

Notes:
Great Wall Motor (GWM), the Chinese carmaker recently signed a Memorandum of Understanding (MoU) with the Maharashtra government.
GWM, also the latest Chinese automaker to enter the Indian market agreed to invest in modernising its Talegaon manufacturing plant. This investment is expected to generate employment for 3,000 people. The company also confirmed its plan to invest USD 1 billion in the Indian market.

Notes:
Manila-based Asian Development Bank recently announced that the economy of India would contract by 4% in the financial year 2020-21.
In its earlier outlook released in the month of April, it had estimated that India would grow at 4%. But it has been reduced to -4%. It also projected that the GDP of India would grow at 5.0% in the following year, as compared to 6.2% projected in April. A growth of 0.1% is expected for the whole Developing economies of Asian region.