Daily Current Affairs Quiz : December 06,2021

Answer: A

• A deep depression in the Bay of Bengal has intensified into cyclonic storm Jawad and has made landfall near Odisha coast.
• Under its influence, some parts of eastern and north eastern region of India are likely to receive rains for further more days.

About cyclone Jawad

How Cyclone Jawad got its name?

• As per updates, Saudi Arabia has given the cyclone its name ‘Jawad’. The meaning of ‘Jawad’ is liberal or merciful. The carries significance as this cyclonic storm will not be as severe as the previous ones.

How are storms named?

• It is interesting to know that the naming of cyclones was started with a treaty in 1953 in the Atlantic region.
• In the Indian Ocean region, the name of cyclone system started from 2004. To name the cyclones, the member countries give a list of names on their behalf. After this, the alphabetical listing is done. In the way, storm cyclones are named after the suggested name.

Answer: D

• The Assam government will confer the state’s highest civilian awards to industrialist Ratan Naval Tata, Olympian Lovlina Borgohain and an array of personalities from diverse fields.

About Assam’s Awards

• The state govt of Assam will honour industrialist Ratan Naval Tata with the Assam Baibhav award for his contribution towards cancer care facilities in the state.
• Assam Govt has planned to confer Assam Baibhav 2021, Assam Saurav 2021 and Assam Gaurav Awards 2021 to 19 personalities and the award ceremony will be conducted on January 24th, 2022.
• The Assam Baibhav award will be worth Rs 5 lakh, the Assam Saurav award will be worth Rs 4 lakh, and the Assam Gaurav award will carry a cash component of Rs 3 lakh.
• Assam Baibhav award will be presented to Ratan Tata, and Assam Saurav award will be distributed to 5 personalities including Prof Kamalendu Deb Krori, Dr Lakshmanan S, Prof Dipak Chand Jain, Lovlina Borgohain and Neel Pawan Baruah.

Answer: A

• Pradip Shah, founder of IndAsia Fund Advisors, has been appointed chairman of National Asset Reconstruction Company (NARCL).

About the appointments

• Pradip Shah, founder of IndAsia Fund Advisors, has been appointed chairman of National Asset Reconstruction Company (NARCL) while Aditya Birla Asset Reconstruction Company managing director Sanjay Jain will be the chief executive of India Debt Resolution Company (IDRCL), the privately owned asset management company (AMC) mandated to resolve bad loans acquired by NARCL
• Diwakar Gupta, former managing director of State Bank of India NSE -0.81 %, is selected as chairman of
• Before joining Aditya Birla ARC, Jain was with Asset Reconstruction Company of India, J M Financial and SBI Capital Markets. He has experience of 29 years in corporate lending, investment banking and stressed fund management.
• After superannuating from SBI, Gupta joined Aditya Birla Financial Services as a senior advisor and later joined Asian Development Bank as its vice president.

Answer: A

• The Organisation for Economic Co-operation and Development (OECD) recently pared its growth forecast for India from 9.7% estimated earlier to 9.4% for this fiscal even as it maintained that the ongoing economic recovery is gaining traction, supported by progress in vaccination, which is boosting consumer sentiment.

About OECD

• The Organisation for Economic Co-operation and Development (OECD) is a group of member countries that discuss and develop economic and social policy.
• OECD was founded in the year 1961 to stimulate world trade and economic progress.
• OECD is an official Permanent observer to the United Nations and is referred to as a think-tank or as a monitoring group.
• OECD members are typically democratic countries that support free-market economies.
• The stated goal of the Organisation for Economic Co-operation and Development (OECD) is to shape policies that foster prosperity, equality, opportunity and well-being for all.
• The organization is headquartered in the Chateau de la Muette in Paris, France.

Objectives of OECD

• It also ensures that the environmental impact of growth and social development is always considered.
• Over the years, OECD has raised the standards of living in multiple countries.
• It has also contributed to the expansion of world trade.

Answer: B

• Private sector lender Federal Bank has launched a feature-rich savings bank product for women.

About Mahila Mitra Plus Scheme

• The savings scheme is called ‘Mahila Mitra Plus’ and provides a curated set of features, designed to make financial planning and investments easy for women.

Features

• The special features include exclusive preferential interest rates on housing loans, processing fee waiver for home loans, complimentary and customised insurance cover.
• Women are also encouraged to open savings accounts in the names of their minor children through the provision of two zero balance savings accounts.

Answer: C

• The Asian Development Bank (ADB) has approved a $500-million loan to India to help improve the quality of school education and to mitigate the impact of the Covid-19 on students’ learning.

About the $500-million loan by ADB

• The loan supports the Integrated Scheme for School Education (Samagra Shiksha) and the new Exemplar School Initiative of the Ministry of Education (MOE) to improve education quality by focusing on inclusive and equitable learning outcomes.
• About 1,800 government schools will be transformed into exemplar schools in the states of Assam, Gujarat, Jharkhand, Tamil Nadu, and Uttarakhand. Exemplar schools will demonstrate quality learning environments and effective learning, which will become a model for replication in other government schools across India.

Significance

• As per ADB Principal Social Sector Specialist for South Asia Sunhwa Lee ADB’s assistance will support the government’s commitment to providing high-quality education to all by accelerating quality education initiatives across the participating states. A well-educated and productive population is crucial for the country’s vision of becoming a vibrant and knowledge-based economy.

Answer: C

• Gita Gopinath, the India-born, first female chief economist of the International Monetary Fund (IMF), is set to take over from Geoffrey Okamoto as the multilateral institution’s number 2 official in early 2022. The elevation to the post of first deputy managing director (FDMD).
• Gita Gopinath, chief economist at the International Monetary Fund (IMF), has been named as the fund’s new first deputy managing director (FDMD) and will take over her new responsibility from January, 2022.

Answer: D

• Navy Day in India was observed recently on December 4 to celebrate the achievements and role of the naval force to the country.

About the National Navy Day

Indian Navy Day 2021: Date

• Navy Day in India is observed on December 4. However, the day is celebrated all over the world on different dates.

Indian Navy Day 2021: History

• On the night of December 4-5, 1971, the Indian Navy planned the attack at night as Pakistan did not have aircraft that could carry out bombings at night.
• It was a devastating attack on the Pakistan Naval Headquarters of Karachi. The attack was successful as it sank a minesweeper, a destroyer, and an ammunition supply ship.
• Therefore, to celebrate the success and achievements of the Indian navy force, every year Navy day is celebrated.

Indian Navy Day 2021: Theme

• Each year, a different theme is proposed to celebrate Navy Day. The theme of 2021 Indian Navy Day is ‘Swarnim Vijay Varsh’ signifying 50 years of India’s victory in the Indo-Pakistan war that took place in 1971.
• Last year, the theme was “Indian Navy Combat Ready, Credible & Cohesive”.

Answer: D

• ‘Naoroji: Pioneer of Indian Nationalism’ was selected for the NIF Book Prize from a brilliant shortlist of six books that showcased some of the finest non-fiction writing.

About the NIF Book Prize

• “Naoroji: Pioneer of Indian Nationalism” was selected from the six shortlisted books that covered a variety of themes and subjects and showcased some of the finest non-fiction writing about India, organisers New India Foundation said.
• Instituted in 2018, the Kamaladevi Chattopadhyay NIF Book Prize is one of the most prestigious literary awards in the country. It celebrates high-quality non-fiction literature on modern and contemporary India from writers of all nationalities published in the previous calendar year. The Prize carries a cash award of INR 15 lakhs and a citation.
• This year’s winner, Dinyar Patel, was selected by a jury panel which included political scientist and author Niraja Gopal Jayal (Jury Chair), entrepreneur and author Nandan Nilekani; historian and author Srinath Raghavan; historian and author Nayanjot Lahiri; and entrepreneur Manish Sabharwal.

About Dadabhai Naoroji

• Naoroji’s political career evolved in three distinct phases. He began as the activist who formulated the “drain of wealth” theory, which held the British Raj responsible for India’s crippling poverty and devastating famines. His ideas upended conventional wisdom holding that colonialism was beneficial for Indian subjects and put a generation of imperial officials on the defensive. Next, he attempted to influence the British Parliament to institute political reforms. He immersed himself in British politics, forging links with socialists, Irish home rulers, suffragists, and critics of empire. With these allies, Naoroji clinched his landmark election to the House of Commons in 1892, an event noticed by colonial subjects around the world. Finally, in his twilight years he grew disillusioned with parliamentary politics and became more radical. He strengthened his ties with British and European socialists, reached out to American anti-imperialists and Progressives, and fully enunciated his demand for swaraj. Only self-rule, he declared, could remedy the economic ills brought about by British control in India. Naoraji is the first comprehensive study of the most significant Indian nationalist leader before Gandhi.