10 PM Current Affairs Quiz: March 29, 2020

The “Fight Corona IDEAthon” launched by AICTE and MHRD Innovation Cell has started. A total of 5,379 students, innovators, educators, hackers, researchers, startups and professionals have registered to participate in the two day event. The purpose of the IDEAthon is to generate and transform innovative ideas into viable solutions that can support the community in managing the uncertainties arising out of the pandemic. “The program shall be hosted completely virtual on the internet during which several ideas to fight the COVID-19 pandemic shall be evaluated, mentored, documented, and selected for the next stages of incubation support”.

Reserve Bank of India (RBI) has reduced the Repo Rate by 75 basis points to 4.4% and Reverse Repo Rate by 90 basis points to 4%. This has been declared by RBI Governor Shri Shaktikanta Das in a press conference, here today (March 27, 2020). He further stated that CRR of all banks is to be reduced by 100 basis points to 3% with effect from 28 March for one year. These measures will inject liquidity of Rs 3.74 lakh crore to the system. Explaining the rationale behind this decision, Shri Das said, “The decisions to lower repo rate and reverse repo rate have been warranted by the disruptive force of COVID-19.  It is to mitigate impact of coronavirus, revive growth and preserve financial stability”. In another major announcement, the Governor said, all commercial banks (including regional rural banks, small finance banks and local area banks), co-operative banks, all-India Financial Institutions, and NBFCs (including housing finance companies and micro-finance institutions), that is, lending institutions, are being permitted to allow a moratorium of three months on payment of installments in respect of all term loans outstanding as on March 1, 2020.

Li Keqiang, the current Premier of the People’s Republic of China, has said that the Keqiang index is a better economic indicator for China than official numbers of GDP. It is based on three indicators namely a) railway cargo volume b) electricity consumption and c) loans disbursed by banks.

Clearing these mounds of years-old waste, called legacy waste, is the easiest and fastest way to reduce our national emissions, and save surrounding villages from polluted water sources, smoke, flies and stench. Some years, generation of Zero waste, especially plastic waste and packaging, has increased at a tremendous rate. Legacy wastes – waste that has been collected and kept for years at some barren land or a place dedicated for Landfill (an area already to dump the country waste), this waste can be roughly grouped into four categories: contained and/or stored waste, buried waste, contaminated soil and groundwater, and contaminated building materials and structures. Examples of contained or stored waste are wastes in tanks, canisters, and stainless steel bins. For example, large quantities of high-level radioactive wastes are stored at Department of Energy (legacy sites in tanks. Buried wastes include radioactive and chemically contaminated wastes disposed of in near-surface pits and trenches.

The International Astronomical Union (IAU) was founded in 1919. Its mission is to promote and safeguard the science of astronomy in all its aspects, including research, communication, education and development, through international cooperation. Its individual Members — structured into Divisions, Commissions, and Working Groups — are professional astronomers from all over the world, at the Ph.D. level and beyond, who are active in professional research, education and outreach in astronomy. The IAU also has Junior Members. The IAU has 13054 members. The Individual and Junior Members Directory contains 10567 names in 107 countries worldwide (these Individual Members are labeled as “active” in the IAU database: they have a valid, public email, and are affiliated to at least one Division.). Out of those countries, 82 are National Members. In addition, the IAU collaborates with various scientific organizations all over the world.