Current Affairs Quiz - September, 2022

Notes:
India clinched the SAFF under-17 Championship title, defeating Nepal in the final in Colombo. With this victory, India retains the title, lifting the title for the fourth time.
India captain Vanlalpeka Guite was named the Most Valuable Player of the Tournament, while 16-year-old Sahil Poonia won the Best Goalkeeper award.

Notes:
World Ozone Day or International Day for the Preservation of the Ozone Layer is celebrated every year on 16 September.
The day is observed to create awareness about the harmful effects of ozone layer depletion. This year, the theme of World Ozone Day 2022 is ‘Global Cooperation to Protect Life on Earth’. The first-ever Ozone Day was celebrated on 16 September 1995.

Notes:
The International Coastal Clean-up Day (ICC) is observed worldwide on the third Saturday of September.
The Indian Coast Guard (ICG) has led this campaign in India since 2006. This year, the Coast Guard leaned beaches at 75 locations across the country as part of the International Coastal Clean-up Day and ‘Swachh Sagar Abhiyan’. ICG’s efforts align with the programme of the Ministry of Earth Sciences, ‘Swachh Sagar-Surakshit Sagar.’

Notes:
The Foreign Trade Policy of India has been amended, under which international trade invoicing, payment and settlement will be allowed to be settled in the Indian Rupee.
The move has thus activated the mechanism of Reserve Bank of India to facilitate trade in the Indian currency.

Notes:
As per recent data, as many as 1,703 Corporate Insolvency Resolution Processes (CIRPs) ended up in liquidation orders till June 2022. The processes took an average of 428 days for liquidation.
The Insolvency and Bankruptcy Board of India (IBBI) has amended regulations to allow sale of one or more assets of an entity undergoing insolvency resolution process. The amendments aim to provide better market-linked solutions for stressed companies.

Notes:
The Indian Space Research Organisation (ISRO) successfully tested hybrid motor, which will be used for a new propulsion system for upcoming launch vehicles
The 30 kN hybrid motor was tested at ISRO Propulsion Complex (IPRC) at Mahendragiri in Tamil Nadu. The test was supported by ISRO’s Liquid Propulsion Systems Centre (LPSC). The motor uses Hydroxyl-terminated polybutadiene (HTPB) as fuel and liquid oxygen (LOX) as the oxidiser.

Notes:
Indian IT major Wipro has terminated the services of 300 employees, who were found to be working for its competitors simultaneously.
The act is also called as ‘Moonlighting’. Companies worry that this practice might create a conflict of interests, data breaches, and mis-use of company’s Intellectual Property (IP) and assets.

Notes:
Union Cabinet approves modifications in “Programme for Development of Semiconductors and Display Manufacturing Ecosystem in India”.
Under modified scheme, a uniform fiscal support of 50% of project cost shall be provided across all technology nodes for setting up of semiconductor fabs. This is in addition to incentives of over ₹76,000 crore, or about USD 10 billion, were announced by the government in December 2021.

Notes:
The Union Government has formed a five-member committee to consider a legally enforceable mechanism for regulating the marketing practices of pharmaceutical firms.
It is chaired by V K Paul, member (health) of NITI Aayog. At present, the publicity and promotion made by pharma companies is supervised under Uniform Code of Pharmaceutical Marketing Practices (UCPMP), the Indian Medical Council Regulations, 2002, and by the Central Board of Direct Tax.

Notes:
India’s Public sector lender UCO Bank is the first bank to receive the Reserve Bank of India’s (RBI’s) approval for rupee trade.
The Kolkata-based bank will open a special vostro account with Gazprombank of Russia for trade settlement in Indian rupees. In July, RBI announced its decision to allow Indian banks to settle trade in Indian currency in July. RBI also allowed trade settlements between India and other countries, including Sri Lanka and Russia.