Current affairs April 01 2020

1. Which Indian public sector bank unveiled a new logo ahead of its merger with the United Bank of India and the Oriental Bank of Commerce?

Ans: Punjab National bank (NEW DELHI : Ahead of its merger with the United Bank of India (UBI) and the Oriental Bank of Commerce (OBC) from April 1, Punjab National Bank (PNB) today unveiled a new logo which bears the signages of all the three PSU banks. From the next financial year, PNB will become the second largest lender in India after the State Bank of India (SBI).The Reserve Bank of India (RBI) has already issued a statement that the merger will take place as scheduled on April 1. There were concerns that the 21-day nationwide lockdown might impact the mega merge plan in which 10 state-owned banks will be merged into four bigger and stronger banks.OBC and UBI are the transferor banks while PNB is the transferee in this amalgamation process. The boards of UBI and OBC will cease to exist from April 1, 2020)

2. In the context of measures taken to combat Covid-19, what is ‘CoNTeC’, that was making news recently?

Ans : Tele-medicine Hub (COVID-19 National Teleconsultation Centre (CoNTeC).” It was launched by the Union Minister of Health & Family Welfare Dr. Harsh Vardhan. The Project CoNTec was conceptualized by the Ministry of Health and Family Welfare and implemented by the All India Institute of Medical Sciences (AIIMS), New Delhi.Project CoNTec was initiated with a view to connect the Doctors across the country to AIIMS in real-time for the treatment of the COVID-19 patients. Under the project, the Doctors would be available in the facility 24X7 and to keep it operational 24 hrs.)

3. Which state government has launched a mobile application called PRAGYAAM to issue e-passes for people involved in essential services amid lock-down?

Ans: Jharkhand (The Jharkhand Government has launched a mobile app PRAGYAAM to issue e-passes to everyone associated with delivery of essential services during the national lockdown to combat COVID-19.District Transport Officers have been given authority to issue e-passes to vehicles through online mode after verification of the documents uploaded through the app . These passes will be issued to those involved in the regular supply services, medical, banking and other necessary services.Meanwhile, officials can also verify the status of the e-passes on the app and other details, including mobile number and identity card of the person engaged in such duties to curb the chances of fake e-passes.)

4. According to the recent announcement from the Minister of Petroleum and Natural Gas, which country has assured uninterrupted supply of LPG to India?

Ans: Saudi Arabia (Minister of Petroleum and Natural Gas Dharmendra Pradhan after his discussions with Saudi Minister of Energy, Prince Abdulaziz bin Salman, on global oil market developments said that Saudi Arabia has assured India of uninterrupted supply of LPG.While there has been a slump in fuel demand owing to the nationwide lockdown, cooking gas demand has reportedly surged in the country.

5. As per the recent report of S&P Global Ratings, what is the GDP growth rate of India in the financial year 2020-21?

Ans: 3.6% (Amid the nationwide lockdown in the wake of coronavirus outbreak, India Ratings and Research (Ind-Ra) has cut India’s gross domestic product (GDP) growth forecast to 3.6% from 5.5% for the financial year 2020-21 (FY21). The spread of COVID-19 and the resultant nationwide lockdown imposed till April 14 will cripple most economic and commercial activities, the agency said in a latest report.”The revision is based on the assumption of lockdown continuing till end-April 2020 (full or partial) and gradual restoration of economic activities May 2020 onwards,” Indian subsidiary of Fitch group said in its report.)

6. Which Indian state celebrated its statehood day on March 30?

Ans: Rajasthan ( Rajasthan Day is celebrated every year on March 30 to commemorate the day on which the state of Rajasthan came into existence.Rajasthan earlier known as Rajputana came into existence on March 30, 1949. It is known as the foundation day because it commemorates the day in which the entire state came into existence. The Land of Kings’ celebrates Rajasthan Day with radiant and invigorating events happening all across the state.)

7. Which space company has received the contract of NASA to ferry cargo and supplies to the agency’s proposed lunar space station?

Ans: Space X (NASA has recently selected a new space capsule from Elon Musk-owned SpaceX to ferry cargo and supplies to be used in its proposed lunar space station. The Lunar space station aims to build a permanent post on the moon and mount future missions to Mars. SpaceX will get a portion of a $7 billion NASA contract to send ‘Dragon-XL’ spacecraft by using its Falcon Heavy rocket.)

8. Which global financial institution is to invest $100 million equivalent in the Fund of Funds of National Investment and Infrastructure Fund (NIIF)?

Ans : Asian Development Bank (MUMBAI: Asian Development Bank (ADB) will invest $100 million into the National Investment and Infrastructure Fund (NIIF) of India Fund of Funds. With ADB’s investment into the NIIF platform, the FoF has now secured $700 million in commitments. ADB will now join the Government of India (GOI) and Asian Infrastructure Investment Bank (AIIB) as an investor in the Fund.NIIF already counts CPPIB, Abu Dhabi Investment Authority, AustralianSuper, Ontario Teachers’ Pension Plan, Temasek, Axis Bank, HDFC Group, ICICI Bank and Kotak Mahindra Life Insurance as investors in the NIIF Master Fund, alongside Government of India.

9. Which Indian newspaper that was being published in the United States for 50 years has ceased its printed edition?

Ans: India Abroad (An iconic ethnic Indian newspaper in the US that catered to the diaspora for the last 50 years will cease the print edition from Monday, its publisher announced, citing the woes in the publishing industry in the Internet era and compounded by the repercussions of cancellation of advertisements amidst the coronavirus pandemic.Founded by Indian-American publisher Gopal Raju in 1970, India Abroad rose to great heights of popularity by focusing on Indian news meant for the expatriate audience.)

10. What is the deadline for completion of insolvency resolution processes, as per the Insolvency and Bankruptcy code regulations?

Ans: 330 days (The Insolvency and Bankruptcy Code, 2016 (IBC) is the bankruptcy law of India which seeks to consolidate the existing framework by creating a single law for insolvency and bankruptcy. The Insolvency and Bankruptcy Code, 2015 was introduced in Lok Sabha in December 2015. It was passed by Lok Sabha on 5 May 2016 and by Rajya Sabha on 11 May 2016.The Code received the assent of the President of India on 28 May 2016.Certain provisions of the Act have come into force from 5 August and 19 August 2016.The IBC has 255 sections and 11 Schedules.The Insolvency and Bankruptcy Code (Amendment) Act, 2019 has increased the mandatory upper Time limit of 330 days including time spent in legal process to complete resolution process.)

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