Current Affairs Quiz - June, 2020

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:
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:
The Union Sports Ministry is set to establish Khelo India State Centres of Excellence (KISCE) under the flagship Khelo India Scheme.
One KISCE will be identified in each state and union territory, to create a strong sporting ecosystem in the country. In the first phase, the Ministry has identified the sports facilities in eight states out of the 15 proposals, to be converted to KISCEs. The eight centres will be given a grant and the government will extend a Viability Gap Funding, for upgradation.

Notes:
Pradhan Mantri Bhartiya Jan Aaushadhi Pariyojana (PMBJP) is an initiative by the Department of Pharmaceuticals, Ministry of Chemicals and Fertilisers.
The scheme seeks to make high-quality medicines available to all at affordable prices, through exclusive outlets of Jan Aushadhi Kendras. Recently, Jan Aushadhi Suvidha Sanitary Napkin is being made available in more than 6300 PMBJP Kendras at a minimum price of Rs.1 per pad.

Notes:
Indian Prime Minister Narendra Modi is to launch a Rs 50,000 crore employment scheme named ‘Garib Kalyan Rojgar Abhiyan’ from a village of Bihar.
The scheme aims to provide income support to migrant workers who returned to their home states during the coronavirus lockdown. It will primarily focus on six states Bihar, Uttar Pradesh, Madhya Pradesh, Rajasthan, Jharkhand and Odisha, where maximum migrant workers have returned. This scheme aims to provide livelihood for 125 days to 25,000 migrant workers of 116 districts.

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.

Notes:
Veteran economist and retired IAS officer BPR Vithal Baru passed away recently, at the age of 93, due to age-related ailments.
Vithal Baru had served in several important assignments including Secretary Finance and Planning in the state of Andhra Pradesh from 1972 to 1982 and Member of 10th Finance Commission. He had also been the Chairman of Expenditure Commission, Kerala. He also established the Centre for Economic and Social Studies (CESS), Hyderabad.

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 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 annual Ambubachi Mela at the Kamakhya temple in the state of Assam has begun, but without devotees.
The traditional rituals would only be performed in the Kamakhya temple, located atop of Nilachal Hills and is regarded as one of 51 Shakti Peeths. This is the most awaited festival among the devotees usually attracts more than 25 lakh visitors has been cancelled this year. The temple was shut for visitors since March 20, due to the Covid-19 induced restriction.