Current Affairs Quiz - June, 2020

Notes:
The World Karate Federation (WKF) has provisionally de-recognised the Karate Association of India with immediate effect.
The decision has been taken after an inquiry found that the association involved in infighting and violating the world body’s laws during its elections last year. As the election process was considered to be flawed by the WKF, it has de-recognised with immediate effect in accordance with the WKF rules.

Notes:
Union Minister of State Jitendra Singh has recently inaugurated two important Bridges Devika and Puneja in Jammu and Kashmir, virtually.
The 10-meter-long Devika Bridge inaugurated in Udhampur district, was constructed in about one-year time span by the Border Roads Organisation. The cost of construction of the bridge is Rs 75 lakhs. Another bridge named Puneja has also been inaugurated at a cost of Rs 4 Crore in Doda District.

Notes:
The Union Cabinet has recently approved an ordinance to bring Urban Cooperative Banks (UCBs) and multi-state cooperative banks (MSCBs) under the supervision of the Reserve Bank of India.
As on date, there are nearly 1,540 UCBs and MSCBs in India with deposits of nearly ₹5 lakh-crore. In February, the Cabinet had approved an amendment to the Banking Regulation Act to strengthen cooperative banks, after the PMC Bank crisis. This step is expected to protect the depositors of the cooperative banks.

Notes:
The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi, has recently approved additional investment of USD 121.27 million for the Shwe oil and gas project in Myanmar.
ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), is to invest in the oil and gas project, for development of Block A-1 and A-3 blocks. OVL had acquired a stake in the Shwe Project in 2002 and has invested USD 722 million in the project till March 31, 2019.

Notes:
Washington-headquartered International Monetary Fund releases its flagship report titled ‘World Economic Outlook (WEO)’.
In the recent forecast report, the International Monetary Fund has estimated that the economy is expected to contract by -4.5 per cent, in the fiscal year 2020. IMF has also projected that the Indian economy will bounce back in 2021-22 with a growth rate of around 6%, though it is lower than the 7.4% growth predicted in April.

Notes:
The United Nations has launched the “Alliance for Poverty Eradication”. India has recently become a founding member of the Alliance.
The President of the 74th Session of the UN General Assembly Tijjani Muhammad-Bande announced the alliance in an informal meeting. He will formally launch the ‘Alliance for Poverty Eradication’ on June 30, which aims to provide a platform for member states to boost global economy after the effects of COVID-19 pandemic.

Notes:
As per the recent announcement from the Home Ministry, serological survey will be carried out in Delhi.
The national capital has seen a huge spike in the number of Covid-19 positive cases. The serological survey will be carried out jointly by National Centre for Disease Control (NCDC) and Delhi Government. Training on using Aarogya Setu & Itihaas apps will be given by NCDC trainers to the district teams.

Notes:
According to the recent announcement from the Union Law Ministry of India, people aged 65 years and above can opt for postal ballot facility in Lok Sabha and Assembly polls.
The Law Ministry has amended the Conduct of Election Rules, the minimum age limit for voters to opt for postal ballot is reduced from the existing limit of 80. The ministry has also allowed COVID 19 suspect or affected persons to use the postal ballot facility. Voters of Bihar will be the first to benefit from the amended rules.

Notes:
S&P Global Ratings has recently released its report titled ‘Asia-Pacific losses near USD 3 trillion as balance sheet recession looms’.
In the report, the agency revealed that Indian economy is in deep trouble. It also estimated that the Indian economy is expected to contract by 5 per cent this fiscal year. S&P also projected the Asia and Pacific region’s economy to shrink by 1.3 per cent in 2020 and grow by 6.9 per cent in 2021. This implies a loss about USD 3 trillion output over the two years, from 2020 to 2022.

Notes:
The FIFA Women’s World Cup 2023 will be co-hosted by Australia and New Zealand, as per the recent announcement from FIFA.
The President Gianni Infantino announced the results of the votes taken during its meeting held via videoconference. The FIFA Women’s World Cup 2023 will be the first edition to feature 32 teams and it will also be the first to be hosted by Australia and New Zealand and across two confederations.