Current Affairs Quiz - June, 2020

Notes:
Facebook owned social media major WhatsApp has launched its ‘WhatsApp Pay’ for the first time in Brazil.
Two years ago, WhatsApp began testing the payments service in India, which enables users to send and receive money. However, the plan could not be materialised due to regulatory issues. WhatsApp has designed the payment system with a special six-digit PIN or fingerprint authorisation to prevent unauthorised transactions.

Notes:
The Reserve Bank of India (RBI) took over the powers to regulate HFCs from the National Housing Bank (NHB) in August 2019.
Recently, RBI proposed to modify the rules of housing finance firms, which includes the formal definition of housing finance as “financing, for purchase/ construction/ reconstruction/ renovation/ repairs of residential dwelling unit”. RBI also proposed to classify HFCs as systemically important HFCs and non-systemically important HFCs.

Notes:
In the month of February, the Cabinet approved to build the Vadhavan port at Palgarh district in Maharashtra at an estimated cost of Rs. 65544 crores.
Recently, the Ministry of Environment, Forest and Climate Change has said that ports as an industry are allowed in the ecologically sensitive Dahanu taluka area, which includes the Vadhavan in Palgarh district. The port will be developed on landlord model by a special purpose vehicle (SPV) to be formed with Jawaharlal Nehru Port Trust (JNPT) as the lead partner.

Notes:
The UN Agency for refugees, United Nations High Commissioner for Refugees (UNHCR) has released its Annual report on displacement.
As per the report, nearly 80 million people were forcibly displaced by the end of 2019 globally. The main reason for displacement has been war, violence, persecution and other emergencies. This count is almost double the total figure of the past decade. The report also revealed that an additional 11 million people were newly displaced in 2019 alone.

Notes:
The Government of India has proposed to appoint two transaction advisors for assisting the Department of Investment and Public Asset Management (DIPAM) in preparing the Initial Public Offering (IPO) of Life Insurance Corporation of India.
In the Union Budget 2020, Finance Minister proposed that the government will sell a part of its holding in LIC through an initial public offering. This IPO is expected to be the largest ever in the country and the advisors are asked to submit their bids till July 13.

Notes:
The Union Ministry of Tribal Affairs along with FICCI and two private healthcare institutes organised a webinar titled ‘National Sickle Cell Conclave’, to mark World Sickle Cell Day.
Tribal Affairs Minister Arjun Munda addressed the webinar and announced that the government has launched a new portal with registration facility, information about the disease and various government initiatives undertaken. The Ministry has initiated ‘Action Research’ project for helping SCD patients. A report titled ‘Stepping out of the shadows – Combating Sickle Cell Disease in India’ was released.

Notes:
BMW India, the Indian arm of the Luxury car maker BMW Group has recently named Vikram Pawah as its President.
He is to continue to serve in his present role as Chief Executive Officer of BMW Group Australia and New Zealand. The previous President and Chief Executive Officer Rudratej Singh suddenly passed away in the month of April. Pawah has been engaged with the BMW Group from the year 2017.

Notes:
The Rajya Sabha consists of not more 238 members representing the States and Union Territories, and 12 members nominated by the President. Each member is elected for a term of six years.
In the recent elections to 19 seats in 10 states, BJP won eight and Congress won four seats. The current strength of Rajya Sabha goes up to 244, of which BJP has 86 members and the National Democratic Alliance NDA’s tally is expected to cross 100. The Congress has 41 members while others have 27.

Notes:
The Chairman and Managing Director of Reliance Industries, Mukesh Ambani is the world’s ninth richest billionaire on the Forbes Real-time Billionaires List.
With a net worth of $64.6 billion, he is ahead of Google co-founders Larry Page and Sergey Brin. The market capitalisation of Reliance Industries (RIL) crossed the Rs 11-trillion mark recently. The company also announced itself net debt free while it had net debt of Rs 1.61 trillion in March 2020. In the same month, Ambani was ranked 21st on Forbes’ annual billionaire list.

Notes:
The United Nations General Assembly designated June 21 as the ‘International Day of the Celebration of the Solstice’.
It considered that the celebration of solstice represents the unity of the cultural heritage across the world. Solstice is an event that occurs when the path of the sun stands still at a northern or southern limit before reversing direction. There are two solstices that occur annually namely the Summer Solstice around June 21 and Winter Solstice around December 21.