Daily Current Affairs Quiz : May 3-4, 2022

Notes:
The Ministry of Commerce and Industry launched the pilot phase of the Open Network for Digital Commerce (ONDC).
It is a first-of-its-kind initiative globally to pave way for democratising digital commerce to enhance the penetration of digital commerce in the country. The initiative aims to promote an open platform for exchange of goods and services through electronic networks. ONDC would standardise operations, promote inclusion of local suppliers and increase efficiencies in logistics.

Notes:
The Reserve Bank of India (RBI) released the ‘Report on Currency and Finance (RCF)’ for the year 2021-22.
As per the report, price stability is a necessary precondition for strong and sustainable growth. It also proposed a seven-point blueprint for reforms. The Indian economy may take 12 years to overcome the losses emanating from the COVID-19 pandemic, which account to Rs 52 Lakh Crores.

Notes:
According to a notification issued by the Ministry of Finance, the government will soon issue a commemorative coin of Rs 100 denomination to mark the birth centenary of Jawaharlal Darda.
Born in 1923, he was a former Congress leader and founder of the Lokmat group of newspapers. The successful businessman and also served as a Minister in Maharashtra for several terms. He passed away in 1997.

Notes:
The Madras High Court has invoked the “parens patriae jurisdiction” to declare Mother Nature as a Living Being with all corresponding rights, duties and liabilities of a living person.
The order was spelt while responding to the petition from an official who sought to quash the proceedings against him for allegedly granting land deed for government land classified as ‘Forest Land’. The court said indiscriminate destruction of nature will endanger the existence of flora and fauna.

Notes:
Indian Oil Corporation (IOC) launched M15 petrol on a pilot basis in Assam’s Tinsukia district. It has a 15 per cent blend of methanol with petrol.
Methanol is being manufactured by Assam Petrochemical Ltd near the Digboi refinery. The government had earlier extended the timeline for the disbursement of loans and completion of projects related to ethanol. The Government also provides financial assistance in the form of interest subvention.