Current Affairs Quiz-September, 2020

Notes:
The Society of Indian Automobile Manufacturers (SIAM) has elected Kenichi Ayukawa as its new President.
He has been the Managing Director and Chief Executive Officer of Maruti Suzuki India since 2013. He earlier served as the Vice President of SIAM and is succeeding Rajan Wadhera. Vipin Sondhi of Ashok Leyland is elected as the Vice President.

Notes:
The Reserve Bank of India has released revised guidelines for Priority sector lending (PSL). This has been done to achieve better credit penetration in the country.
The new guidelines have mechanism to enhance flow of credit to credit deficient areas. Also, under the new prevision bank finance to start-ups up to Rs.50 crore can be considered as Priority Sector Advance.

Notes:
The Government of Assam has re-launched an old scheme named “SVAYEM” which aims to provide self-employment to 2 lakh youth in the state. SVAYEM stands for Swami Vivekananda Assam Youth Empowerment.
The scheme would provide Rs.50,000 as seed capital to selected youth, to commence their business. The total outlay of the scheme is Rs.1000 crore.

Notes:
The Union Defence Minister of India Rajnath Singh attended the country’s first high-level political meet with China amid prevalent border tensions.
This meet has been organised on the side-lines of Shanghai Cooperation Organisation (SCO) meeting in the Russian capital Moscow. As per media reports, the Chinese side initiated the meeting attended by the Chinese Defence Minister General Wei Fenghe.

Notes:
The third annual Indo-Pacific Business Forum is to be held in Hanoi, the capital of Vietnam on October 28 and 29, 2020.
The United States Government will sponsor the forum, in collaboration with the Government of Vietnam, the US-ASEAN Business Council and others trade associations. The main focus will be on Infrastructure, Digital economy, Market connectivity, health and economic recovery.

Notes:
As per the recent statement of the Fitch Ratings, the annual GDP growth of India is projected to contract more than 10.5 per cent.
Earlier, it had estimated that the GDP Growth would contract by 5 per cent in its June Global Economic Outlook (GEO). In its recent GEO, it has also highlighted that the Global Economy is projected to fall less than projected level.

Notes:
The Chief Minister of Kerala Pinarayi Vijayan inaugurated the Kochi Metro’s final stretch of the Phase-I covering Thykoodam to Petta which is 3 km long.
The inauguration was made virtually. With this, the phase-1 of Kochi Metro is complete at a cost of Rs.6218 crore. The inaugural function was presided by Hardeep Singh Puri, Union Minister of Housing & Urban Affairs.

Notes:
The United Nations World Food Programme (WFP) and the Uttar Pradesh State Rural Livelihood Mission (SRLM) are to collaborate in establishing over 200 supplementary nutrition production units.
This is to be undertaken under the Integrated Child Development Services (ICDS) scheme. This partnership aims to reach nearly 33 lakh beneficiaries in 18 districts, by 2023.

Notes:
Azerbaijan has reduced its daily oil production by 133,400 barrels in August, thereby over fulfilling its production reduction obligations under OPEC+ output cuts deal.
As per the OPEC + deal, Azerbaijan is obligated to decrease its daily oil production by 131,000 barrels from August and December, whereas the country has decreased the production levels to 133,400 barrels.

Notes:
The Cabinet Committee on Economic Affairs (CCEA) chaired by the PM by, has approved monetization of assets of Power Grid.
Power Grid is a Public Sector Undertaking under Ministry of Power. The monetization is being done for the first time through Infrastructure Investment Trust (InvIT) model. The proceeds of asset monetization would be used to fund new and on-going projects of the PSU.