Monthly Current Affairs Quiz - July, 2017

Notes:
India has recently contributed $500,000 to the UN Peace building Fund (PBF) to boost efforts of United Nations for building and sustaining peace across the world. India has been a Member of the UN Peace Building Commission (PBC) since its inception in December 2005 and has so far contributed $5 million to the Peacebuilding Fund. The fresh contribution of $5 Lakh to the fund will be effected over the coming days. The UN Peacebuilding Commission (PBC) is an intergovernmental advisory body that supports peace efforts in conflict affected countries and is a key addition to the capacity of the International Community in the broad peace agenda.

Notes:
Vijay Gokhale, a 1981 batch Indian Foreign Service (IFS) officer, has been appointed as the new Secretary (Economic Relations) in the Ministry of External Affairs (MEA). Currently, he is Indian Ambassador to China. Beside this, Gokhale has served as Ambassador of India to Germany and also in Indian missions in Hong Kong, Hanoi, Beijing and New York.

Notes:
Minaketan Das (56), the noted Odia actor, has passed away in Bhubaneswar, Odisha. The actor was well-known in the state’s film and television industry for his negative roles. Das was known for his acting in a number of Odia films including Balunga Toka, Jianta Bhuta and Most Wanted.

Notes:
Germany has won the 10th edition of FIFA Confederation Cup Football-2017 title by defeating Copa America Champion Chile by 1-0 goals in the final at St Petersburg, Russia. With this, Germany has won the title for the first time after Lars Stindl scored the only goal in the 20th minute when Chile midfielder Marcelo Diaz gave the ball away on the edge of his own area.

Notes:
According to RBI’s Financial Stability Report (FSR) June 2017, India’s economic growth rate has forecasted at 7.3% in terms of Gross Value Added (GVA) in the current fiscal year FY 2017-18. The report projected CPI inflation to be in the range of 2-3.5% in the first half of the year and 3.5-4.5% in the second half. It stated that Retail inflation, excluding food and fuel that remained sticky during H2 of FY17 at around 4.9%, dipped to 4.3% in April and 4.2% in May 2017, largely reflecting the impact of decline in global crude oil prices on transport and communication and moderate price pressures in services. The FSR reflects the overall assessment on the stability of India’s financial system and its resilience to risks emanating from global and domestic factors.

Notes:
The Government of India (GoI) has signed a $220 million loan agreement with Asian Development Bank (ADB) for improving road connectivity as well as transport efficiency and safety on state highways of Rajasthan. The loan is the first tranche of the 500 million dollar Rajasthan State Highways Investment Program, approved by ADB Board in May 2017. The first tranche loan will improve about 1,000km of State Highways and major district roads. It will have a 25-year term, including a grace period of 8 years, and carry an annual interest rate determined in accordance with ADB’s London interbank offered rate-based (LIBOR) lending facility. The total cost of the project is $1.415 billion, with the government contributing $465 million and $450 million coming from the private sector and other concessionaries.

Notes:
The International Plastic Bag Free Day (IPBFD) is observed every year on July 3 to highlight the need to phase-out plastic bags and to promote organic reusable bags. The day signifies the ability for the world to come together and create an environment that is plastic free and educating individuals about current alternatives to plastics and other wastes.

Notes:
The National Multi Commodity Exchange (NMCE) will merge with Indian Commodity Exchange (ICEX) to create India’s third largest commodities exchange. The merger, which is subject to regulatory approval, is expected to be completed by December 2017. ICEX’s shareholders will hold a 62.8% stake in the merged entity while the balance will be held by shareholders of NMCE. The proposed merger will offer a range of contracts including bullion, oil, rubber and other agri-commodities. The exchange will also offer the world’s first diamond futures contract, which has already received “in-principle” approval from the regulator. The NMCE is the India’s first demutualised online national multi-commodities exchange.

Notes:
Swayam Shikshan Prayog (SSP), a Pune-based NGO, has won the 2017 United Nations Development Programme (UNDP)’s Equator Prize for its women led climate resilient agro-ecological farming model and innovative solutions in climate resilient farming in the Marathwada region of India. The SSP is one of the 15 winners of Equator Prize 2017 by UNDP. The SSP has empowered 72,000 women in the drought-prone state of Maharashtra to act as agricultural decision-makers, improving their health, food security, and economic well-being.

Notes:
The Asian Infrastructure Investment Bank (AIIB) has recently approved $329 million loan to build access roads to 4,000 villages in all 33 districts of Gujarat. This project will construct and upgrade district and farm-to-market roads for the villagers and provide approaches to educational institutions, schools and hospitals. The upgraded road access is expected to have a positive impact on women and girls by improving school attendance rates as the latter drop out due to lack of access to all weather roads. The project will also better integrate rural population, tribal villages, business and industries with the national and state economy through better transport connectivity. This is a standalone project by AIIB and part of phase one of the multi-phase Gujarat’s ‘Chief Minister’s Rural Roads Programme’ that complements the Centre’s ‘Prime Minister’s Rural Roads Programme’. To monitor the project’s progress, the AIIB will pilot a software tool specifically developed for this. The AIIB is a multilateral development bank, headquartered in Beijing, which commenced its operation in January 2016 and has now grown to 80 approved members from around the world.