Current Affairs Quiz - June, 2020

Notes:
India is ranked 43rd on the annual World Competitiveness Index compiled by the Institute for Management Development (IMD).
It has retained the same 43rd rank obtained in the previous edition. In the 2020 list that ranks 63 nations, Singapore has retained its top spot. It is followed by Denmark and Switzerland. However, the United States moved down from 3rd place to 10th place. While India improved in high-tech exports, foreign currency reserves etc, it degraded in areas like exchange rate stability, real GDP growth.

Notes:
Prime Minister of India Narendra Modi launched the auction process for 41 coal blocks for commercial mining, to open coal sector of India to private players.
The Ministry of Coal in association with FICCI launched the process of auction under the provisions of Coal Mines (Special Provisions) Act and Mines and Minerals (Development and Regulation) Act. The auction is expected to invite Rs 33,000 crore of capital investment in the country over next five to seven years.

Notes:
The All India Football Federation (AIFF) has recently recommended former skipper IM Vijayan for the country’s fourth highest civilian award, the Padma Shri.
The 51-year-old legendary player served as the India striker. Since he made his debut in the early 90s, he had scored 40 goals in 79 matches for India. He was also awarded the prestigious Arjuna award in 2003. Six Indian footballers including Bhaichung Bhutia and Sunil Chhetri have earlier won the Padma Shri award.

Notes:
Technology major Facebook has recently acquired Swedish mapping technology company Mapillary, as per official sources.
Mapillary crowd-sources the images, collects pictures contributed from smart phones and other types of cameras. It then uses computer vision technology to stack them together into a real-time 3-D map. This technology is expected to support Facebook products under development like augmented reality glasses and virtual reality headsets.

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 Union Ministry of New and Renewable Energy (MNRE) has set up a Project Development Cell (PDC) to attract more investments into the sector.
It is to be headed by the Joint secretary of MNRE, Amitesh Kumar Sinha, and will help meet the country’s 175 GW target for green energy. The PDC aims to create projects that have all prior approvals for investors to adopt them. DPIIT can also nominate some officials to this body.

Notes:
The Union Ministry of Corporate affairs (MCA) has proposed to decriminalise some compoundable offences under the Limited Liability Partnership (LLP) Act.
In the draft proposal, the Ministry has listed as many as 20 sections of the LLP Act and sought public comments and stakeholder consultations. It includes change of designated partners, maintaining books of accounts etc. Certain minor, procedural or technical violations which does not involve any harm to public interest are to be decriminalized.

Notes:
The Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG) is a regional body comprising nine countries. It is an associate member of the Financial Action Task Force (FATF).
The members of EAG include Russia, China, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan and Belarus. Recently, Indian officials attended the virtual 32nd special EAG plenary meeting through video-conferencing, under the aegis of the Financial Action Task Force.

Notes:
Union Minister of State for Shipping (IC) and Chemicals & Fertilisers, Mansukh Mandaviya has recently inaugurated India’s one the largest first Virtual Healthcare & Hygiene EXPO 2020.
The Expo has been organised by Federation of Indian Chambers of Commerce and Industry (FICCI), the leading association of business organisations in India. This is the first ever largest virtual exhibition in India. The Chairman of FICCI, the President of FICCI, Tennis star P V Sindhu were also present during the virtual Expo.

Notes:
Russian Foreign Minister Sergei Lavrov hosted the Russia-India-China (RIC) trilateral foreign ministers’ meeting.
It has been attended by the Union External Affairs Minister of India S Jaishankar and Chinese Foreign Minister Wang Yi. This is the first time the foreign Ministers of India and China are virtually meeting through video conference after the recent standoff between their troops at Ladakh. On June 24, Defence Minister Rajnath Singh attends the Victory parade in Russia.