Current Affairs Quiz - June, 2020

Notes:
The insolvency regulator IBBI has reconstituted the Advisory Committee on Corporate Insolvency Resolution and Liquidation process.
This panel would be chaired by Executive Vice Chairman and Managing Director of Kotak Mahindra Bank, Uday Kotak. The panel comprising of 13 other members will provide professional support on matters relating to the Corporate Insolvency resolution and liquidation handled by the Board under the Insolvency and Bankruptcy Code 2016.

Notes:
India’s first infectious disease diagnostic lab has been developed with the support of Department of Bio-Technology.
The lab has been developed as a part of the Aatmanirbhar Bharat scheme, in a record time of eight days from the receipt of the Automotive Chassis, from Bharat Benz, a brand of Daimler India Commercial Vehicles. It has Elisa test, rRT-PCR test and Bio chemistry analysers.

Notes:
Chinese internet company ByteDance has recently announced that it is set to discontinue two of its applications Vigo Video and Vigo Lite.
The applications that allow users to create and share short videos, will be discontinued in India at the end of October 2020. ByteDance also said the users can opt to transfer their videos to TikTok, download or delete all their Vigo data from the app.

Notes:
A Memorandum of Understanding (MoU) was signed between the Indian Embassy, Nepal’s Ministry of Federal Affairs & General Administration and Kathmandu Metropolitan City for the construction of the sanitation facility at the Pashupatinath Temple of Nepal.
The famous temple is also listed under the UNESCO World Heritage site. India has pledged to construct a Rs 2.33 crore sanitation facility at the Temple complex to improve the infrastructure for the pilgrims.

Notes:
‘International Day of Family Remittances (IDFR)’ is celebrated on June 16, every year across the world.
This year, the International Day is observed with the theme of “Remittances are a lifeline”. The United Nations that designated the day, also calls upon governments, private sector companies and the civil society, to maximize the impact of remittances through individuals.

Notes:
Union Ministry of Earth Sciences has recently released a report titled ‘Assessment of Climate Change over the Indian Region’.
As per the first edition of the report released this year, the average surface air temperatures over India could rise by up to 4.4 degrees Celsius by the end of the century, in a worst-case scenario. This estimate is provided as compared to the period between 1976 and 2005. The report also revealed that under an intermediate scenario, the country’s average temperature could rise by up to 2.4°C.

Notes:
The high-powered panel constituted by SEBI, has released its report to improve inquiry and enforcement processes of the market regulator.
The panel has been chaired by a retired judge of the Supreme Court- Justice Anil R Dave, has released its comprehensive report to SEBI. The report focusses on reducing timeline for passing final orders, improving recovery processes, quantifying alleged gains while levying penalties and interplay between SEBI norms and provisions of the Insolvency and Bankruptcy Code (IBC).

Notes:
According to the BP Statistical Review released recently, India’s energy consumption in 2019 was third largest behind China (141.70 EJ) and US (94.65 EJ).
While World primary energy consumption rose to 583.90 Exajoules (EJ), India’s consumption increased 2.3 per cent to 34.06 EJ. The growth was lower than 5.2 per cent in 2018. It also said that India was second biggest growth driver of primary energy consumption in the world, behind China, in 2019.

Notes:
Reliance Industries has recently become the first Indian company to be valued at $150 billion. It also became the first company to be valued at over Rs 11 lakh crore, in rupee terms.
Reliance Industries is among the most valued energy companies in the world, at present. In the last two months, the company raised about Rs 1.69 lakh crore from global investors and a rights issue. As per the company’s release, Reliance had a net debt of Rs 1,61,035 crore as on March 31, 2020 and with these investments, RIL has become net debt-free.

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.