Current Affairs Quiz - May, 2020

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:
Congress leader Adhir Ranjan Chowdhury has been reappointed for another year as the chairperson of Parliament’s Public Accounts Committee along with the existing 30 members.
The committee was first formulated as a result of Montagu-Chelmsford Reforms in the year 1921. After 1950, the committee became a parliamentary committee which functioned under the control of the Lok Sabha Speaker along with a non-official chairperson. Since 1967, the chairperson of the committee is selected from the opposition party.

Notes:
In a recent move, the Centre hiked the duties on petrol and diesel steeply and raised it to Rs 10 and Rs 13 per litre, respectively. It was also announced that there will be no change in the retail prices as the hike will be absorbed by the Oil Marketing companies.
Among the total hike, the Road and infrastructure cess will go the revenue of the Centre only whereas the special additional excise duty will be passed on to all states through devolution at 42%. This decision has been taken at the backdrop of falling crude oil prices in the global market and lower demand during the lock-down.

Notes:
The World Thalassaemia Day is observed every year across the world on May 8. It is observed with an aim of creating awareness about a blood disorder called Thalassaemia.
Thalassaemia is a genetic blood disorder that affects the production of haemoglobin. Lesser red blood cells and low haemoglobin are the effects of this disorder. This year the theme is “The dawning of a new era for thalassaemia: Time for a global effort to make novel therapies accessible and affordable to patients”.

Notes:
The state government of Jharkhand has recently banned manufacture, sale and storage of 11 brands of pan masala for a year.
This step has been taken to curb the harmful chemical Magnesium carbonate, present in pan masala. The chemical is carcinogenic and harmful to the heart and banned for usage, as per the Food Safety Act, 2006 regulations. Earlier, Maharashtra and Bihar also had imposed a ban on pan masala.

Notes:
Moody’s Investors Service has recently projected India’s growth at zero per cent for the current fiscal 2020-21.
It had estimated a growth of 4.8 per cent for the last fiscal year. Last month the ratings agency estimated that the Indian economy would grow at 0.2 per cent. It had also provided a ‘Baa2’ rating for India, which represents moderate credit risk. It also said that India would regain its growth rate at 6.6 per cent in the 2021-22 fiscal.

Notes:
World Health Organization (WHO) and the UN’s postal agency have released a commemorative postage stamp on the 40th anniversary of the eradication of smallpox.
The 33rd World Health Assembly issued its official declaration that the world has successfully eradicate small pox, in May 1980. The smallpox eradication campaign of WHO was launched in 1967, to fast-track the global effort in eradicating the disease. The stamp commemorates the roles of world leaders, organisations, rural doctors and community health workers.

Notes:
Pune-based National Institute of Virology under the Indian Council of Medical Research has successfully developed the first indigenous antibody detection kit for Covid-19 named ‘Covid Kavach Elisa’.
Technically, it is an anti-SARS-CoV-2 human IgG ELISA (enzyme-linked immunosorbent assay) test kit for detecting coronavirus. As per the Union Health Ministry, the kit can test up to 90 samples together in 2.5 hours. This is expected to ramp up the testing speed in the country.

Notes:
Every year the International Nurses Day is celebrated on May 12. It is celebrated to mark the birth anniversary of Florence Nightingale. 2020 also marks the 200th birth anniversary of Florence Nightingale. World Health Organization (WHO) has declared 2020 as the ‘Year of the Nurse and the Midwife’.
This year, the theme of the International Nurses Day is “Nursing the World to Health”. As per the WHO, Nurses account for more than half of health workers and still 5.9 million more nurses are needed across the world.

Notes:
The social security scheme of Government of India ‘Atal Pension Yojana’ (APY) has completed five years of successful implementation. The scheme has witnessed 2.23 Crore enrolments since its launch.
It was launched in the year 2015 by the Indian Prime Minister to deliver a minimum guaranteed pension to workers in unorganised sector. The Pension Fund Regulatory and Development Authority (PFRDA) administers the scheme.