Current Affairs Quiz - May, 2020

Notes:
During the era of industrialisation, the labourers of the United States revolted together against the unjust labour system and the exploitative industrialists. They demanded for fair wages, breaks between the work and paid leaves. The revolt on May 1 1886 led to the celebration of May Day.
May Day, also known as International Workers’ Day is celebrated across the world on May 1. In India, the first May Day was celebrated on May 1, 1923, by the Labour Kisan Party of Hindustan in Chennai.

Notes:
The Union minister of Culture Prahlad Singh Patel released a centenary special edition e-book “Prof. B. B. Lal -India Rediscovered” on the birthday of B.B.Lal, as a tribute for his contribution in the field of archaeology.
Professor B.B Lal, born on May 2, 2961 in Uttar Pradesh, is a renowned archaeologist. On the occasion of his 100th birth year, the e-book has been released by the Ministry of culture in collaboration with Prof B B Lal Centenary Celebration Committee.

Notes:
The Union Ministry of Civil Aviation along with Directorate General of Civil Aviation has launched a portal named GARUD (Government Authorisation for Relief Using Drones).
The portal has been launched with an aim of providing fast-track exemptions to government agencies for drone operations associated with Covid-19 response. However, the Ministry also warned about penal action and cancellation of exemption if the provisions are violated.

Notes:
The European Union and its partners co-hosted the Coronavirus Global Response International Pledging Conference to raise funds to kick-start the global fight against Covid-19, especially to manufacture a vaccine.
The target set by the European Commission for the initial funding was €7.5 billion (8 billion USD). Several world leaders, individuals and organisations participated in the conference and pledged 8 billion USD together. Canada was the highest contributor with $850 million. U.S. did not attend the conference.

Notes:
The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002, allow banks and financial institutions to auction properties, when borrowers fail to repay their loans.
Recently as per the judgement of the Supreme Court, the cooperative banks that are involved in the banking activities are considered as a ‘banking company’. Hence the SARFAESI act may be modified to include the procedure of loan recovery by cooperative banks.

Notes:
As per the recent notification of the Reserve Bank of India, the government has appointed Economic Affairs Secretary Tarun Bajaj as a Director on the central board of Reserve Bank of India (RBI), with effect from May 5 until further orders.
Tarun Bajaj is set to replace the position held by Atanu Chakraborty, who superannuated on April 30. Tarun Bajaj is a 1988 batch IAS officer and has held several crucial positions including Additional Secretary in Prime Minister’s Office and Director in the Department of Financial Services.

Notes:
The new Prime Minister of Iraq, Mustafa al-Kadhimi assumed office after the country’s parliament approved a new government. The parliament also approved 15 ministers in a vote of confidence and seven ministries including Foreign affairs and Oil were left empty.
There has been political crisis for more than six months in the country. The two previous nominees for the role of prime minister, Mohammed Tawfiq Allawi and Adnan al-Zurfi failed to secure the required support from cabinet ministers.

Notes:
The United Nations celebrates May 7 as the International Day of Vesak across the world, to commemorate the day of enlightenment of Lord Buddha.
In India, Ministry of Culture in collaboration with the International Buddhist Confederation (IBC) held a Virtual Prayer Event to celebrate Buddha Poornima. Indian Prime Minister also delivered the keynote address. The virtual celebrations will be streamed live from various historic sites from India, Nepal and Sri Lanka.

Notes:
Union Defence Minister Rajnath Singh has recently approved the abolition of 9,304 posts in the Military Engineering Service. MES is a government Defence infrastructure development agency.
As per the recommendations of the Committee of Experts, headed by Lieutenant General Shekatkar, and the proposal of the Engineer-in-Chief of MES, the posts in the basic and industrial workforce have been scrapped, which will improve the combat capability and trim the defence expenditure.

Notes:
Union Health Minister along with the Union AYUSH Minister launched the clinical research studies on Ayurveda interventions as an add-on to the standard care in tackling COVID 19. This will be a joint initiative of Ministry of AYUSH, Ministry of Health and Family Welfare and the Ministry of Science & Technology through CSIR.
They also launched the Ayush Sanjivani application developed by the AYUSH Ministry, with an aim of generating data on acceptance and usage of AYUSH recommendations among the public and record their impact in prevention of COVID 19.