Monthly Current Affairs Quiz - September, 2018

Notes:
Sunil Mehta, the MD &chief executive of Punjab National Bank (PNB), has been elected as the new chairman of the Indian Banks Association (IBA) for 2018-19. Apart from him, Dinabandhu Mohapatra, MD & CEO of Bank of India (BoI), has been elected as IBA’s Deputy Chairman. The IBA is a representative body of management of banking in India and has its headquarters in Mumbai.

Notes:
Prime Minister Narendra Modi and his Nepalese counterpart K P Sharma Oli jointly inaugurated a 400-bed Nepal-Bharat Maitri Pashupati Dharamshala in Kathmandu, Nepal. It is a rest house for pilgrims, which is located on the banks of the Bagmati River. The Dharmashala is build with the Indian assistance and has provision for family rooms, kitchen, dining hall, library and some multipurpose halls to meet the requirements of the travellers and families on pilgrimage to Pashupatinath Temple.

Notes:
Singapore is currently holding the Chair of ASEAN. There, the 6th East Asia Summit- Economic Ministers’ Meeting (EAS-EMM) and 15th India-ASEAN Economic Ministers’ Meeting (AEM) was held in September 1, 2018. It was attended by Economic Ministers from 10 ASEAN countries and their 8 dialogue partners – Australia, China, India, Japan, Republic of Korea, New Zealand, the Russian Federation and the United States. The meeting recognized the importance of ongoing work to maximize the opportunities of, and address the challenges presented by, the digital economy and the rise of regional and global value chains, as part of their efforts to promote economic growth and integration in the region. It was announced in the Singapore meeting that the next ASEAN-India Business Summit will be held in Kuala Lumpur, Malaysia in November 2018, which will be followed by the 4th India-ASEAN Dialogue Partner Expo and Summit scheduled for 21-23 February 2019, in New Delhi.

Notes:
Rani Rampal, the Indian women hockey captain, was India’s flag-bearer at the closing ceremony of the 18th Asian Games 2018. India ended their Asian Games 2018 campaign with the highest medal tally at the tournament ever, with a total of 69 medals which includes 15 gold, 24 silver and 30 bronze medals. In addition to local artists and a Chinese segment, the South Korean boybands Super Junior and iKon, and Indian singer Sidharth Slathia performed in the closing ceremony. More than 10,000 athletes gave their best at the Asian Games 2018, winning medals for their respective countries. 465 gold medals were won by the athletes of 28 countries. 37 out of 45 participating nations were able to win medals at the Asian Games 2018. China finished on top of the medal tally with 132 gold medals. Javelin thrower Neeraj Chopra was India’s flag-bearer at the opening ceremony. In it, the Games flag for the 2022 Asian Games received by Mayor of Hangzhou Xu Liyi.

Notes:
The book “Moving On, Moving Forward: A year in Office” has been authored by Vice-President M. Venkaiah Naidu, which was recently released by Prime Minister Narendra Modi. The book is based on Naidu’s tenure as Vice-President and Chairman of the Rajya Sabha. He talks about his vision in the chapter ‘Retired from politics but not from public life’. As Chairman, he also records his disappointment over the first two sessions of the House he presided over. The 245-page book with 7 chapters deals with Naidu’s focussed engagement on four key issues — unrealised demographic dividend, need for an effective ecosystem for farmers to thrive, scientific advancements to better the life of people and public awareness about rich Indian heritage.

Notes:
Arthur Pereira (70), the former Maharashtra football player, has passed away on September 3, 2018. He toured Russia as a striker with the Indian team in 1971. He also represented Maharashtra in the national championships for the Santosh Trophy from 1971 to 1976. Pereira played for several clubs in the city, including the well-known Orkay Mills. After his playing career, Pereira became a Physical Education teacher at St Joseph’s School in suburban Malad.

Notes:
On September 3, India and Cyprus signed two agreements on combating money laundering and cooperation in the field of environment in the presence of President Ram Nath Kovind and his Cypriot counterpart Nicos Anastasiades in Nicosia. Both the countries also agreed for the revision in the Double Taxation Avoidance Agreement (DTAA) made in 2016 to further enhance investment partnership to grow by strengthening the institutional framework to facilitate investment cross flows. Beside this, Cyprus also reaffirmed its support to India for its membership of the Nuclear Supplier’s Group (NSG) and UN Security Council (UNSC). Mr. Kovind is in Cyprus on the first leg of his three-nation visit to Europe to continue India’s high-level engagements with European countries.

Notes:
India will host its first-ever official FIBA 3×3 World Tour Masters 2018 in Hyderabad, which is scheduled to be held from September 22. It is one of the most prestigious basketball tournaments in the world. The Hyderabad Masters will see participation from the leading international 3×3 teams and top two Indian 3BL teams – Delhi 3BL & Bangalore 3BL. The qualification for the Indian teams was decided on the basis of the results of the inaugural season of 3×3 Pro Basketball League (3BL) which was held from June 9 to August 26 across six cities in India. Hyderabad Masters is the 7th stage of the FIBA 3×3 World Tour and is the first time an international 3×3 basketball tournament is being played in India. The participating teams will compete for a chance to qualify for the FIBA 3×3 World Tour Bloomage Beijing Final on October 27-28.

Notes:
The Reserve Bank of India (RBI) has recently introduced Internal Ombudsman (IO) scheme 2018 to tighten internal grievance redressal system at Scheduled Commercial Banks (SCBs). In it, RBI has given statutory powers to Internal Ombudsman (IO) under section 35 A of the Banking Regulation Act, 1949. The central bank has tightened the selection and operating procedure for IO in banks and made it mandatory for lenders with more than 10 branches (excluding Regional Rural Banks) to have an independent authority to review complaints that were partially or wholly rejected by the respective banks. An ombudsman is a person officially charged with investigating and addressing public complaints or violation of rights. The tenure of the IO cannot be more than 5 years and it is not open to reappointment. An IO also cannot be removed without consent from the RBI. This new post will not report to the bank’s CEO but to the customer service committee of the bank.

Notes:
The Ministry of Micro, Small & Medium Enterprises (MSME) has approved a proposal by the Khadi and Village Industries Commission (KVIC) to increase the wages of artisans by over 36%, from Rs 5.50 per hank previously to Rs 7.50 per hank. The proposal for an increase in wages to khadi spinners along with payment of government subsidy — Modified Market Development Assistance (MMDA) — has been approved with effect from August 15, 2018. Under the MMDA programme, 30% of the prime cost is paid to the khadi institutions as production subsidy. Of this 30%, 40% goes to artisans as wage incentives and the remaining 60% goes to the khadi institutions. The wage incentives are paid by KVIC directly to the accounts of the artisans through direct benefit transfer. As a result, if an artisan makes 20 hanks in a day — he will get Rs 150 per day as wage at the rate of Rs 7.50 per hank, plus incentives including MMDA, which would be approximately 35% on Rs 150, that is Rs 52.