Current Affairs Quiz - May, 2020

Notes:
As per the recent announcement from the Union Aviation Ministry, the domestic airfares of India will be fixed by the Ministry for three months, when domestic flights resume after lock-down.
The government will cap minimum and maximum ticket fares based on route and will ensure that ticket prices are affordable for passengers as well as financially viable for airlines. The Ministry has divided the routes into seven bands based on duration of flights. 40 per cent of the seats in any flight will have to be sold at the mid-point of the lower and upper air fare limits prescribed.

Notes:
China is the largest manufacturer of personal protective equipment (PPE) body coveralls, that is considered as a crucial equipment to safeguard against the prevalent COVID-19 pandemic.
As per the announcement of the Ministry of Textiles, India has become the world’s second largest manufacturer of PPE body coveralls within a short time-span of two months. The ministry also said that it ensures that only certified manufacturers are allowed to supply PPEs to governments.

Notes:
Leading Public Sector Enterprises Oil and Natural Gas Corporation (ONGC) and NTPC Ltd signed a Memorandum of understanding (MoU), to set up a joint venture company for the renewable energy business.
As per the MoU, NTPC and ONGC will explore and set up renewable power projects including offshore wind in India and in other countries. The enterprises will also roll-out their expertise in the fields of sustainability, storage, e-mobility and ESG (Environmental, Social and Governance) compliant projects.

Notes:
Major private equity of the United States, KKR & Co. Inc. has recently acquired a 2.32 per cent stake in the digital unit of Reliance Industries, Jio platform for Rs 11,367 crore.
As per the announcement of the Reliance Industries, this is the fifth deal in the last four weeks for sale of minority stake in Jio platform. Earlier, it had raised Rs 67,194.75 crore from global technology investors including Facebook, Silver Lake Partners, Vista Equity Partners and General Atlantic.

Notes:
The Mizoram Cabinet has recently granted industry status to sports, amidst the gradual lifting of lock-down, following the sports policy in many countries.
This decision is expected to promote employment generation in the state. This was announced by the state’s Chief Minister Zoramthanga. The Sports and Youth Services department had advised the State government to grant the status. Mizoram has a good group of Football players who represent several important clubs.

Notes:
Australian tennis legend Ashley Cooper, who won four Grand Slam singles titles in the 1950s, has recently passed away due to illness at the age of 83.
Ashley Cooper won the Australian Open, Wimbledon and U.S. Grand slam in the year 1958, and achieved the rare feat of winning three Grand Slam championships in a calendar year. He won all four of his Grand Slam crowns by beating his fellow countrymen in the final. He was inducted into the International Tennis Hall of Fame in 1991.

Notes:
World Hunger Day is an initiative by The Hunger Project, which is a New York based organisation committed to end hunger across the world, through programmes in various parts of the world.
It is celebrated on May 28 every year across the world. According to the United Nations’ recent data, the number of people suffering from hunger is rising continuously after 2015. The aim of World Hunger Day is to spread awareness about the impact of acute hunger and solutions to solve hunger and poverty.

Notes:
European Commission, the executive branch of the European Union has recently proposed a 750 billion-euro (USD 826 billion) COVID-19 recovery plan.
The European Commission is expected to borrow the funds from the market and then disburse two-thirds in grants and the remaining fund in loans. This plan will mostly cover to revamp the worst affected European Union nations including Italy and Spain.

Notes:
Union Minister for Finance & Corporate Affairs Nirmala Sitharaman chaired the 22nd Meeting of the Financial Stability and Development Council (FSDC) and reviewed the current global and domestic macro-economic situation and financial stability in the nation.
Union Finance Minister is the chairperson of FSDC, an autonomous regulatory body set up in the year 2010. Besides the ten members which includes the RBI Governor, Finance Secretary, Chief Economic Adviser, Chairpersons of SEBI, IRDAI, PFRDA, IBBI among others, the Finance Minister may invite any other required person.

Notes:
Ministry of Tribal Affairs has announced Inclusion of 23 additional Minor Forest Produce (MFP) items in the Minimum Support Price List.
Under the “Mechanism for Marketing of Minor Forest Produce through Minimum Support price and development of Value Chain of MFP” scheme of 2011, the forest dwellers are safeguarded by a minimum price. This is implemented by the TRIFED organisation. This inclusion has increased the coverage from 50 to 73 items in the list.