Daily Current Affairs Quiz: July 30, 2022

ANSWER: A

• Prime Minister recently launched India’s first International Bullion Exchange (IIBE) at Gujarat International Finance Tech (GIFT) City in Gandhinagar.
• Prime Minister also launched NSE IFSC-SGX Connect and laid the foundation stone of the headquarters of the International Financial Services Centres Authority (IFSCA) at GIFT City.
  GIFT city has been established as an integrated finance and technology services hub for India and the world.
• It will help India in entering the league of countries like USA UK and Singapore which are giving direction to global finance.
• With the inauguration of IIBE, India can influence the gold pricing and can play an important role in setting the gold prices.
• The IFSCA headquarters will provide abundant opportunities for making India an economic superpower.

Various new initiatives

• The commencement of financial operations in India by three leading global banks such as Deutsche Bank, JP Morgan Chase Bank, and MUFG Bank.
• Indian Regional Office of the New Development Bank will also be set up at GIFT City
• IFSCA also signed memorandums of understanding (MoUs) with regulatory authorities of Singapore, Luxembourg, Qatar, and Sweden.

ANSWER: D

• Prime Minister will address the inaugural session of first All India District Legal Services Authorities Meet in New Delhi on 30th July 2022.
• The first-ever national-level meet of District Legal Services Authorities (DLSAs) is being organized by National Legal Services Authority.
• The meeting will deliberate on creation of an integrated procedure to bring homogeneity and synchronization across DLSAs.
• There are a total of 676 District Legal Services Authorities in the country. They are headed by the District Judge who acts as Chairman of the authority.
• Through DLSAs and State Legal Services Authorities, various legal aid and awareness programmes are implemented by National Legal Services Authority.
• The DLSAs also contribute towards reducing the burden on courts by regulating the Lok Adalats conducted by NALSA.

ANSWER: D

• In February 2008, a report by the National Tiger Conservation Authority presented an alarming report, revealing that there were only 1411 tigers left in the country, home to the big cats.
• The efforts for the conservation of tigers on a global level began in 2010, when 13 countries, including Nepal, Bhutan, and India met with a goal to increase their Tiger population. They decided to double their wild tiger numbers by 2022.
• International Tiger Day is being celebrated on 29th July. The main aim behind this day is to promote a global system for protecting the natural habitats of tigers and to raise awareness and support for tiger conservation.
• According to World Wildlife Fund, tiger populations are currently stable or increasing in India.
• The tiger reserves of India were set up in 1973 and are governed by Project Tiger, which is administrated by the National Tiger Conservation Authority.
• According to the latest Tiger Census of 2018-19 conducted in India, 2,967 Tigers live in the country.
• The population growth rate of Tiger is six per cent per annum. India is home to 80 per cent of tigers in the world.
• There are a total of 53 Tiger reserves in India as of 2022.
• The combined area of Guru Ghasidas National Park (Sanjay National Park) and Tamor Pingla Wildlife Sanctuary of Chhattisgarh have been designated as India’s 53rd Tiger Reserve by the National Tiger Conservation Authority.

ANSWER: A

• World Nature Conservation Day is observed on 28th July.
• The day is observed to create awareness the importance of protecting our natural resources. Conservation of resources has an important role in protecting the Mother Earth.
• Vice President M. Venkaiah Naidu has emphasized for concerted efforts to conserve the limited natural resources, reduce the carbon footprint and protect our planet.
• According to the United Nation Food and Agriculture Organization, 90 per cent of the Earth’s precious topsoil is likely to be at risk by 2050.

ANSWER: C

• Recently, Asian share markets witnessed losses except for South Korea’s KOSPI which gained 0.7 percent.

Other Asian indexes performance

• Hong Kong’s Hang Seng index tumbled 2.3 percent
• China’s Shanghai Composite index declined 0.9 percent.
• Singapore’s Straits Times ended 0.3 percent down.
• Japan’s NIKKEI-225 fell marginally by 0.1 percent.

    In European shares, markets were up in intra-day trade.

• London’s FTSE 100 rose 0.4 percent.
• Germany’s DAX gained 1.1 percent.
• France’s CAC was 1.4 percent up.

About KOSPI

• The Korea Composite Stock Price Index or KOSPI was launched in 1983 with the base value of 100 as of January 4, 1980.
• KOSPI is the major stock market index of South Korea. The index represents all common stocks traded on the Korea Exchange.
• The index calculation is based on market capitalization method. KOSPI replaced Dow-style KCSPI (Korea Composite Stock Price Index) in 1983.KOSPI moved below 1,000 mark for several years.
• The index breached 1,000 for the first time in April 1989.
• KOSPI recorded its largest one-day percentage gain of 8.50% on June 17, 1998 & largest one-day percentage drop of 12.02% on September 12, 2001.
• The index’s Korean name was officially changed to Koseupi jisu in November 2005. KOSPI reached another milestone of breaking 2000 level for the first time on July 24, 2007.

ANSWER: B

• The government has proposed amendments in the Cantonments Act, 2006 by incorporating provisions for imparting, inter-alia, greater democratisation to Cantonment Boards including direct election of Vice-President.
• This information was given by Defence Minister Rajnath Singh in a written reply in the Lok Sabha. He said the draft bill is under finalization. The elections to Cantonment Boards are proposed to be held thereafter.
• Defence Minister said a framework for cutting out civil areas of certain Cantonments and to merge them with neighbouring State municipalities is under consultation with concerned States. He said this will provide uniformity in local governance and greater ease of living for citizens in the process.
• Mr Singh said several suggestions were received from public representatives and general public on the administrative structure of the Cantonment Boards. The suggestions mainly pertain to direct election of Vice-President, empowerment of Civil Area Committee, financial powers to Vice-President, power to vary the constitution of Boards, and power to suspend decisions of the Board.

ANSWER: A

• The Indian Air Force (IAF) is set to retire a squadron of MiG-21 Bison aircraft by September 30.
• After that only three squadrons of the aircraft will remain in service, which would be phased out by 2025.
• According to reports, the 51 Squadron based out of Srinagar airport is being number plated on September 30. Thereafter, every year one squadron will be fitted with a number plate.
• The 51 Squadron is famous for thwarting Pakistan’s air strike on India on February 27, 2019, and shooting down an F-16 by an aircraft flown by Wing Commander (now Group Captain) Abhinandan Varthaman.
• According to Sources, this is the only instance when a MiG-21 aircraft shot down an F-16 in air-to-air combat.IAF is replacing MiG-21 fighter jets with more capable aircraft like Su-30 and indigenous Light Combat Aircraft (LCA).
• In the last 20 months, 6 MiG-21 aircraft have crashed in accidents in which five pilots have lost their lives.
• Recently, a MiG-21 Type 69 Trainer aircraft crashed in Barmer, Rajasthan killing both the pilots. The MiG-21 was supposed to be discontinued long back, but the delay in induction of the LCA Tejas aircraft has forced the IAF to continue flying these aircraft.
• As per officials, the IAF conducts extensive checks of these aircraft before the flight and all safety aspects are taken care of before the pilot takes off.
• According to officials, that the number-plated squadron would be reactivated soon with more capable aircraft in the near future.

ANSWER: A

• Prime Minister Narendra Modi is set to launch the Ministry of Power’s flagship Revamped Distribution Sector Scheme, which is aimed at improving the operational efficiencies and financial sustainability of the Distribution Companies (DISCOMs) and power departments.
• The scheme will be launched by PM Modi during a programme marking the culmination of ‘Ujjwal Bharat Ujjwal Bhavishya – Power @2047’ on 30 July 2022 via video conferencing.
• With an outlay of over Rs 3 lakh crore over a period of five years from FY 2021-22 to FY 2025-26, the scheme aims to provide financial assistance to DISCOMs for modernisation and strengthening of distribution infrastructure, focussing on improvement of the reliability and quality of supply to end consumers.
• It also aims to reduce the AT&C (Aggregate Technical and Commercial) losses to pan-India levels of 12-15 per cent and ACS-ARR (Average Cost of Supply-Average Revenue Realised) gap to zero by 2024-25 by improving the operational efficiencies and financial sustainability of all state-sector DISCOMs and power departments.

UDAY Scheme – Centrally Sponsored Scheme

• The UDAY scheme was launched on November 15, 2015, under the Government of India for operational and financial turnaround of the Power Distribution Companies (DISCOMs) owned by any state.
• This scheme was established with a vision to provide affordable and accessible 24×7 Power to all. UDAY scheme also aims in providing a solution for revenue-side efficiency as well as cost-side efficiency.

ANSWER: A

• The nine-day Shravan Ashtami fair that began at the Chintpurni shrine in Una District.
• In order to ensure safety and security of the temple and the visitors, Una District Magistrate Raghav Sharma has imposed Section 144 in the entire district from July 29 to August 6, the last day of the fair. No person, except personnel of the police force on duty have been allowed to carry firearms in any part of the district.
• The DM has also banned the use of public address systems at or near the temple premises, except the public address system of the temple administration, which is used for proper management in the temple premises.
• Use of brass bands and other musical instruments has also been banned. Any person found carrying such musical instruments will have to deposit these at the police barriers set up on the various roads leading to the temple.
• Setting up langars, use of fire crackers and littering at public places has also been banned.
• However, langars can be set up at designated places after paying due fees and on the written permission of Additional Deputy Commissioner Dr Amit Kumar, who is also Magistrate of the fair.

ANSWER: C

• A grand event will be organised on July 31 under the chairmanship of Chief Minister Jai Ram Thakur at the historic Chowgan under the 75 years of Progressive Himachal Establishment programme.
• The CM will also preside over the concluding ceremony of the Historic Minjar Fair.
• According to Chamba Sub-Divisional Magistrate (SDM), exhibitions based on the theme of “Himachal – Tab Se Ab Tak” would be organised.
• It would showcase ‘Pragati Yatra’ during the 75 years of the state’s existence.
• These would include health, horticulture, agriculture, tourism, education, public works, industry, Jal shakti, social justice and empowerment and energy departments.