Current Affairs Quiz - June, 2020

Notes:
In a violent conflict that took place in the Galwan Valley located in the Union Territory of Ladakh, as many as 20 Indian soldiers were killed.
As per the statement of the Indian Army, the two sides disengaged from the area where the fight happened. The US media reported that its intelligent officials quoted about 35 Chinese troops have been killed. The infrastructure projects that India has undertaken recently, a strategic road through the Galwan Valley, connecting the region to an airstrip, has escalated the conflict.

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:
India has been recently elected as the non-permanent member of UN Security Council for 2021-22, along with Ireland, Mexico and Norway. India’s term is to begin from January 2021.
Each year the General Assembly elects five non-permanent members, out of the 10 total seats, for a two-year term. In the recent election, India won 184 votes out of 192 valid votes cast. Previously, India has been elected as a non-permanent member of the Council for seven terms.

Notes:
The United Nations General Assembly has recently elected Turkish diplomat Volkan Bozkir to be its president. He is the first Turkish national to head the General Assembly.
This decision has been taken ahead of the 75th General Assembly in September. Volkan Bozkir is serving as the head of the Turkish Parliament’s Foreign Affairs Committee. He had also served as Turkey’s Minister of European Affairs and Chief Negotiator. He would assume office in September 2020 and hold the post for one year.

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 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:
According to the data from the US Treasury Department, India has become the 12th largest holder of US government securities at the end of April.
Japan stood at the first position by holding securities worth 157.4 billion dollars. It is followed by China at 1.1 trillion dollars and the UK at 368.5 billion dollars. At the end of April, India had an exposure of 157.4 billion dollars.

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.

Notes:
World Music Day is celebrated on June 21, to promote peace and spread positivity through music. The event is also popularly called as ‘Fete de la Musique’.
This special day was a music festival, which began in France in 1982. French Minister of Culture Jack Lang proposed the idea of the celebration of Music Day in the year 1981. Every year, on this day, amateur and professional musicians are encouraged to showcase their work.

Notes:
Rajinder Goel, who was considered as one of the finest left-arm spinners of the country, passed away recently, at the age of 77
Rajinder Goel took part in about 157 first-class matches, most of them for Haryana. He also holds the record for clinching maximum wickets in Ranji trophy with 637 wickets. The legendary spinner made his debut in the year 1957 and played domestic cricket until the age of 44. He was awarded the CK Nayudu Lifetime Achievement Award by BCCI.