1-7 June 2020 Current Affairs

India-Australia Agreement | RBI PIDF | EY World Entrepreneur Of The Year | IPAC | Nisarg | Basu Chatterjee |

Posted on Jun 07, 2020 04:52 IST in Current Affairs.

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1) On 4 June 2020 India inked a landmark agreement for reciprocal access to military bases for logistics support with which country? – Australia (A historic Mutual Logistics Support Agreement (MLSA) was signed between India and Australia on 4 June 2020. This agreement is primarily for reciprocal access to military bases for logistics support besides firming up six more pacts to further broaden ties. The agreement was signed after Indian Prime Minister Narendra Modi and his Australian counterpart Scott Morrison held an online summit. India has already signed similar agreements with the US, France and Singapore)

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2) The RBI on 5 June 2020 announced establishment of a fund with the objective of giving a push to digital payments across the country. What is the name given to this fund that will be established with a corpus of Rs. 500 crore? - Payment Infrastructure Development Fund (Payment Infrastructure Development Fund (PIDF) is the name given to the new fund announced by the Reserve Bank of India (RBI) on 5 June 2020 with the primary objective of giving a push to digital payments across India. The RBI has made an initial contribution of Rs. 250 crore covering half the fund. This fund has been created to encourage acquirers to deploy point of sale (PoS) infrastructure, both physical and digital, in tier-3 to tier-6 centres and north eastern states)

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3) Which Indian entrepreneur was named “EY World Entrepreneur Of The Year for 2020” on 5 June 2020 and became the third Indian to get this prestigious honour? - Kiran Mazumdar Shaw (Kiran Mazumdar Shaw, Executive Chairperson and Managing Director of Biocon Limited was on 5 June named EY (Ernest and Young) World Entrepreneur Of The Year for 2020. She was picked from among 46 nominations from 41 countries. She is the third award winner from India. Managing Director of Kotak Mahindra Bank, Uday Kotak (2014) and Infosys founder Narayana Murthy (2005) are the former recipients. Kiran also became the second woman to hold the title, following Olivia Lum of Hyflux Limited from Singapore in 2011. She founded Biocon, a bio-enzymes company, in 1978 with just two employees and $500. The company is now employs more than 11,000 people)

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4) Lawmakers from which eight democracies around the world came together on 5 June 2020 to launch “The Inter-Parliamentary Alliance on China”, a front counter China and to reform democratic approach to China? - Australia, Canada, Germany, Japan, Norway, Sweden, the UK and the US (Lawmakers from Australia, Canada, Germany, Japan, Norway, Sweden, the UK, US as well as the European Union (EU) on 5 June 2020 formed a coalition to counter China. The coalition was named “The Inter-Parliamentary Alliance on China” and its primary objective is to assist legislators to construct coordinated responses to help craft a strategic approach on issues related to China)

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5) What is the name of the severe cyclonic storm that hit Maharashtra by making a landfall at Mumbai on 3 June 2020? – "Nisarg" (Nisarg is the name given to the severe cyclonic storm that hit India’s western coastline by making a landfall at Mumbai on 3 June 2020. This storm started as a deep depression in the Arabian Sea and was revised as a severe cyclonic storm by the Indian Meteorological Department on 2 June 2020. It was initially expected to hit Maharashtra as well as Gujarat but later deviated and made a landfall in Maharashtra. Nisarg thus became the second tropical cyclone of the 2020 North Indian Ocean cyclone season to hit the Indian subcontinent in a span of two weeks, after Cyclone Amphan. Till 4 June 2020 3 fatalities were reported as the cyclone lashed Mumbai at speed of over 100 km/hr. triggering massive rain and flooding)

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6) Which rating agency on 1 June 2020 downgraded India's sovereign rating to “BAA3” which is the lowest investment grade? – Moody’s (India’s sovereign credit rating was cut by a notch to the lowest investment grade (“BAA3”) with negative outlook by Moody’s Investors Service on 1 June 2020. The agency cited growing risks that Asia’s third-largest economy will face a prolonged period of slower growth amid rising debt and persistent stress in parts of the financial system. India’s credit rating was downgraded to Baa3 from Baa2. Moody’s also revised its FY21 GDP estimate for India to 4% contraction against 0% growth projected earlier)

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7) Which Indian company offered a rights issue valuing Rs. 53,124 crore that is India’s largest-ever rights issue? – Reliance Industries Limited – RIL (Mukesh Ambani-led Reliance Industries (RIL) brought a Rs. 53,124 crore rights issue that was India's biggest ever. It was subscribed 1.59 times with the company receiving commitments of over Rs. 84,000 crore. This issue was also the world's biggest rights offering by a non-financial company in at least 10 years)

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8) Noted veteran film maker and director Basu Chatterjee passed away on 4 June 2020. Known as one of the founders of what came to be known as middle cinema or middle-of-the-road cinema, Chatterjee was associated as an illustrator and cartoonist with which erstwhile tabloid for 18 years? – “Blitz” (Basu Chatterjee started his career as an illustrator and cartoonist with the weekly tabloid Blitz published in Mumbai that was edited by Russi Karanjia. He worked for 18 long years before turning a film maker. Some of his most critically acclaimed are Sara Akash (1969), Piya Ka Ghar (1972), Us Paar (1974), Rajnigandha (1974), Chhoti Si Baat (1975), Chitchor (1976), Swami (1977), Khatta Meetha, Priyatama, Chakravyuha (1978 film), Jeena Yahan (1979), Baton Baton Mein (1979), Apne Paraye (1980), Shaukeen and Ek Ruka Hua Faisla. Two of his most popular TV serials were “Rajani” and “Byomkesh Bakshi”. He passed at the age of 90 on 4 June 2020)

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