Current Affairs Quiz - March, 2019

Notes:
Former ISRO scientist, Nambi Narayanan has been conferred the 2019 Padma Bhushan by President Ram Nath Kovind. It is the third-highest civilian award in the Republic of India. He is best known for his role in developing the Vikas Engine which was used for the first PSLV (Polar Satellite Launch Vehicle) launched by India. The engine was used in the most historic missions of ISRO, such as the Chandrayaan and Mangalyaan. Narayanan, who was heading the cryogenic project at the ISRO, was falsely implicated in the ISRO spy scandal of 1994. He was accused of selling state secrets comprising confidential test data from rocket and satellite launches. He was arrested in December 1994 and charged with espionage. The Supreme Court later cleared him of all charges in 1998 and awarded him compensation in 2018. He had also played a critical role in the development of Polar Satellite Launch Vehicle (PSLV), Geosynchronous Satellite Launch Vehicle (GSLV) and in the initial phase of making cryogenic engines.

Notes:
The State Bank of India (SBI), ICICI Bank and HDFC Bank would have to comply with additional capital requirement norms by 1st April 2019 as the banks continue to be in the Reserve Bank of India (RBI)’s list of Domestic Systemically Important Banks (D-SIBs) for 2018. D-SIBs are required to maintain higher capital as compared to other banks. It means that these banks are too big to fail and failure of any of these banks will have cascading effect on Indian financial system. The D-SIB framework requires the RBI to disclose the names of banks designated as D-SIBs starting from 2015 and place these banks in appropriate buckets depending upon their Systemic Importance Scores (SISs). SIBs are subjected to higher levels of supervision so as to prevent disruption in financial services in the event of any failure.

Notes:
The book titled “The Great Disappointment: How Narendra Modi Squandered a Unique Opportunity to Transform the Indian Economy” has been authored by economic and political commentator Salman Anees Soz. The book claims that Demonetisation was a terrible idea and the government’s own economic surveys have indicated that this move contributed to a slowdown in the economy. According to author, demonetisation was a self-goal by the Modi government. The book attempts to answer the overarching question of whether or not the Modi government transformed India’s economy and what the next government’s agenda should look like. The book is also a critical assessment of five years of the brand of economics Modi has championed, often referred to as ‘Modinomics’.

Notes:
Bengaluru FC won the 5th edition of the Indian Super League (ISL-2019) by defeating FC Goa 1-0 in the final at the Mumbai Football arena on 17th March 2019. It’s their first-ever ISL title. The two teams were locked 0-0 after 90 minutes. Even the first extra time saw no goals but Bengaluru got better of a 10-men Goan team 1-0, 4 minutes from the end of the second extra half. In it, Bengaluru FC defender Rahul Bheke became the match winner for the team in the dying minutes of the final.

Notes:
Former India hockey captain Sardar Singh has been elected in the athletes standing committee of the Olympic Council of Asia (OCA) at its 38th General Assembly in Bangkok . Apart from him, IOA secretary general Rajeev Mehta was named in the culture standing committee. Hockey India secretary general Mohd Mustaque Ahmad is in the media standing committee, while Athletics Federation of India (AFI) president Adille Sumariwala and Lalit Bhanot have been elected in the sports for environment and sports standing committees respectively. All the members have been elected for a four-year term from 2019 to 2023. The OCA General Assembly was held in Bangkok on March 2 and 3.

Notes:
SpiceJet has become the first Indian low-cost carrier to get the membership of global airlines’ grouping International Air Transport Association (IATA). The membership also allows SpiceJet to explore and grow its collaborations with international member airlines of IATA through interlining and code shares. This will enable SpiceJet to seamlessly expand the network options for its passengers in future. The IATA represents more than 290 airlines, including Air India, Jet Airways and Vistara.

Notes:
In football, India has clinched the SAFF Women’s Championship for the fifth time in a row. In thefinal, they defeated hosts Nepal 3-1 at Biratnagar on 22nd March 2019. In the first half, Dalmia Chhibber of India scored the first goal of the match which was equalled by Nepal’s Sabitra Bhandari at the 33rd minute. In the second half, Grace Dengmei scored the second goal at 63rd minute and Anju Tamang scored third and decisive goal in the 76th minute. This was India’s 23rd straight victory in the championship since its inception in 2010. India has clinched all five editions of SAFF championship.

Notes:
Ministry of Corporate Affairs (MCA) has recently released the National Guidelines on Responsible Business Conduct (NGRBC). These guidelines urge businesses to actualize the principles in letter and spirit. For this purpose, the National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business, 2011 (NVGS) have also been revised. According to the guidelines, businesses should conduct and govern themselves with integrity in a manner that is ethical, transparent and accountable. Businesses should provide goods and services in a manner that is sustainable and safe. It should also respect and promote the well-being of all employees, including those in their value chains.

Notes:
The Reserve Bank of India (RBI) has recently appointed 5-member committee under the chairmanship of Nandan Nilekani to further deepen digital payments and enhance financial inclusion through Fintech. The panel would assess the current levels of digital payments in financial inclusion, suggest measures to strengthen the safety and security of digital payments, provide a road map for increasing customer confidence to use digital transactions, and suggest a medium-term strategy for deepening of digital payments. Financial technology (often shortened to Fintech) is computer programs and a new technology innovation that aims to compete with traditional financial methods in the delivery of financial services. The committee will submit its report in 90 days from its first meeting.

Notes:
The World Meteorological Day (WMD) is observed every year on 23rd of March to mark the establishment of World Meteorological Organization (WMO) on this day in 1950. This year, the organisation is celebrating its 69th anniversary. The 2019 theme ‘The Sun, the Earth and the weather” recognizes the critical role that the Earth’s nearest star plays in what transpires on the planet. The energy that the Sun sends towards the Earth is taken up by all life forms to perform their biological functions. It also regulates global climate, which, in turn, influences local weather conditions. The same energy is also absorbed by the oceans which carry it around the planet, creating further conditions for diverse marine life to exist.