Monthly Current Affairs Quiz - July, 2018

Notes:
On June 29, the Odisha government signed a Memorandum of Understanding (MoU) with the Regional Integrated Multi-Hazard Early Warning System (RIMES) for enhancing early warning system for effective management of all kinds of disaster in the state, including flood, drought, heat wave, lightning, and road accidents. The MoU will help state government to integrate new generation digital algorithm-based technologies and best practices from 48 RIMES member countries with the Odisha State Disaster Management Authority (OSDMA). The RIMES is a UN Registered international and inter- governmental institution, owned and managed by its 48 Members and Collaborating States for building capacities in the generation and application of user-relevant early warning information.

Notes:
The International Day of Tropics is observed every year on June 29 to raise awareness to the specific challenges faced by tropical areas, the far-reaching implications of the issues affecting the world’s tropical zone and the need, at all levels, to raise awareness and to underline the important role that countries in the tropics will play in achieving the Sustainable Development Goals (SDG). The day celebrates the extraordinary diversity of the tropics while highlighting unique challenges and opportunities nations of the Tropics face. It provides an opportunity to take stock of progress across the tropics, to share tropical stories and expertise and to acknowledge the diversity and potential of the region.

Notes:
NITI Aayog and Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) have signed a Statement of Intent (SOI) to implement fertiliser subsidy disbursement through Blockchain Technology. Both will work on implementing a Proof-of-Concept (PoC) application for using the technology in subsidy disbursements. They will jointly develop the use case, under take research, interact with multiple stakeholders, develop Blockchain solutions, exchange learnings, organise forums, and disseminate learnings across their networks. It must be noted that approximately Rs 70,000 crore of subsidy is disbursed to manufacturing units every year for selling around 31 million MT of fertilisers below cost and the fertilizer subsidy disbursal takes two to three months’ time. With the implementation of Blockchain Technology, it is expected that the distribution will become effective and efficient, and subsidy transfer could be automated and made real time.

Notes:
Anjolie Ela Menon, the well known muralist, has recently been conferred with the prestigious National Kalidas Samman by the Madhya Pradesh government in Delhi for her contribution in visual arts. The award was conferred in recognition of her insightful and sensitive portrayal of the identity and spirit of women through her meaningful paintings in a variety of media. Beside her, Artist A. Ramachandran was also conferred with the Kalidas Award. Menon is counted among India’s most accomplished artists and is the recipient of numerous national and international awards including the Padma Shri. She recently received a doctorate from Rabindra Bharati University.

Notes:
Admiral Jayant Ganpat Nadkarni (86), the former Chief of the Naval Staff, has passed away in Mumbai, Maharashtra on July 2, 2018. He was the 14th chief of the Indian Navy from December 1987 to November 1990. He participated in the Liberation of Goa and played a stellar role in the India-Pakistan War 1965 and in 1971. Nadkarni is a recipient of the Param Vishisht Seva Medal, Ati Vishisht Seva Medal, Nausena Medaland the Vishisht Seva Medal for his distinguished service.

Notes:
The Sunil Mehta committee which was formed with a view to tackle Non-Performing Assets (NPAs) and creating credit capacity submitted its report with recommendations to Union Finance Minister Piyush Goyal on July 2, 2018. The Sunil Mehta panel presented project ‘Sashakt’ and has recommended a five-pronged strategy to deal with NPAs in the country’s banking system. The five-pronged strategy includes — SME Resolution Approach (SRA), Bank Led Resolution Approach (BLRA), AMC / AIF led resolution approach, NCLT / IBC approach, and asset-trading platform. The report recommends a five pronged approach for loans from Rs 50 crore, Rs 50-500 crore and loans above Rs 500 crore. The committee has also suggested an asset trading platform for both performing and non-performing assets. The plan focuses on turning around assets in a manner that will create additional jobs by reviving businesses and prevent job losses from foreclosures.

Notes:
The Union government has constituted a ministerial panel headed by the finance minister to decide about fund allocation for infrastructure projects from the Central Road and Infrastructure Fund (CRIF) announced in the budget. The 4-member committee will approve recommendations made by the sub-committee headed by the Economic Affairs Secretary on list of infrastructure projects to be financed from the CIRF. Other members of the committee include Minister of Road Transport and Highways; Shipping; Water Resources, River Development and Ganga Rejuvenation, Railways Minister and Human Resource Development Minister. The 15-member sub-committee has secretaries from different ministries who will examine and evaluate proposals received from ministries on infrastructure projects. Besides, it will prioritize the list of infrastructure projects each year for being financed by the fund. The budget 2018 has amended the Central Road Fund Act, 2000, and has renamed the Central Road Fund as CRIF.

Notes:
Justice L Narasimha Reddy, the former Chief Justice of the Patna High Court, has been appointed as Chancellor of the University of Hyderabad for a period of three years. President Ram Nath Kovind in his capacity as Visitor of the University appointed Justice Reddy as Chancellor of of UoH. Justice Reddy, who is also the Chairman of the Central Administrative Tribunal, served as a Judge of the Andhra Pradesh High Court, between 2001 and 2015.

Notes:
The Andhra Pradesh government and the delegates of United Nations Educational, Scientific and Cultural Organisation (UNESCO) have recently signed a pact for the establishment of a Gaming Digital Learning Hub in the state. As per agreement, UNESCO will soon set up the Design University for Gaming in Visakhapatnam. For the installation of the university, UNESCO has asked the state government to allocate 100 acres of land in Visakhapatnam for developing the city as International Gaming and Digital Learning Hub. The hub is being seen as potential medium for creating around 50,000 jobs in 10 years. The UNESCO delegates stated that Gaming Technology will be the best source of income in future and IT giants like UBSoft, Samsung, Microsoft etc are ready to establish their centres in Visakhapatnam.

Notes:
Vishwas Patel, who is Director at Infibeam Avenues, has been appointed as new Chairman of Payments Council of India (PCI), the apex body representing the companies in the payments and settlement system. He succeeded Naveen Surya, who has been elevated to the post of Chairman Emeritus. PCI has also announced the appointment of Loney Antony, Managing Director, Hitachi Payment Services as its new Co-Chairman. PCI was formed under the aegis of Internet and Mobile Association of India [IAMAI] in 2013 to cater the needs of the digital payment industry.