10 PM Current Affairs Quiz: November 20, 2020

The G-20 operates without a permanent secretariat or staff. The chair rotates annually among the members and is selected from a different regional grouping of countries. The chair is part of a revolving three-member management group of past, present and future chairs referred to as the Troika.
The 15th G20 Summit chaired by the Kingdom of Saudi Arabia, under the theme “Realising the Opportunities of 21st Century for All”, is being virtually organised on 21-22 November 2020.
India will enter the G20 Troika, along with Saudi Arabia when Italy will take over the Presidency of the G-20 on 1st December, 2020.

The ‘Renewables 2020 — Analysis and forecast to 2025’ report has been published by the International Energy Agency.
Highlights:
–Renewable energy has been one sector that has been resilient amid economic shock generated due to the novel coronavirus disease (COVID-19) pandemic; and India is expected to gain handsomely.
–In sharp contrast to all other fuels, renewables used for generating electricity will grow by almost 7% in 2020.
–Wind and solar capacity will exceed coal and gas in less than five years.
–The increase will mean wind and solar will overtake gas capacity in 2023 and coal in 2024.
–The report also showed how renewables had proved to be resilient during the COVID-19 pandemic

In 1967, Morarji Desai joined Smt. Indira Gandhi’s cabinet as Deputy Prime Minister and Minister in charge of Finance. Post-emergency, he was unanimously elected as Leader of the Janata Party in Parliament and was sworn in as the Prime Minister of India on March 24, 1977.
In December 1973, students of L D College of Engineering in Ahmedabad went on a strike to protest against a hike in school fees. A month later, students of Gujarat University erupted in protest, demanding the dismissal of the state government. It called itself the ‘Navnirman movement’. The student protests against the government escalated and soon factory workers and people from other sectors of society joined in. By February 1974, the central government was forced to act upon the protest. It suspended the Assembly and imposed President’s rule upon the state.
The 1975 emergency was the third national emergency (first one was in 1962 when China invaded India while the second one was in 1971 during the war with Pakistan), and the only one to be declared citing of “internal disturbances”.

Statement 1 is incorrect. Lakshmi Bai was born around 1827 in present-day Varanasi in northeast India. Named Manikarnika, she was the daughter of a Brahman who worked as an adviser to the court of the peshwa, or prime minister, of the Maratha Empire, Baji Rao II.
Statement 2 is correct. In 1853 Gangadhar Rao, the maharaja of Jhansi became ill. He then instructed that Lakshmi Bai would rule as regent until the adopted boy came of age. Shortly after the adoption, Lakshmi became a widow. Lakshmi Bai’s hold on power in Jhansi lasted until March 1858, when company troops led by Gen. Hugh Rose laid siege to the fortress.

Statement 1 is correct. RuPay is the first-of-its-kind Global Card payment network from India, with wide acceptance at Shops, ATMs, and online.
RuPay is a product of NPCI, the umbrella organisation that powers retail payments in the country. The provision under the Payment and Settlement Systems Act, 2007, empowered the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) to create a secure electronic payment and settlement system in India.
Statement 2 is incorrect. Presently, RuPay cards are issued by more than 1,100 banks which includes Public Sector Banks, Private Sector Banks, Regional Rural and Co-Operative Banks.
Its ten core promoter banks are State Bank of India, Punjab National Bank, Canara Bank, Bank of Baroda, Union Bank of India, Bank of India, ICICI Bank, HDFC Bank, Citibank N. A. and HSBC.
# RuPay card Phase-II has been launched in Bhutan.

Statement 1 is correct. Press Council of India (PCI) was established under the PCI Act of 1978 for the purpose of preserving the freedom of the press and of maintaining and improving the standards of newspapers and news agencies in India.
The PCI has the power to receive complaints of violation of the journalistic ethics, or professional misconduct by an editor or journalist. The PCI is responsible for enquiring in to complaints received. It may summon witnesses and take evidence under oath, demand copies of public records to be submitted, even issue warnings and admonish the newspaper, news agency, editor or journalist. It can even require any newspaper to publish details of the inquiry.
Statement 2 is incorrect. The News Broadcasters Association is a private association of different current affairs and news television broadcasters in India.

The Saltoro Mountains are a subrange of the Karakoram Range. They are located in the southeast Karakoram on the southwest side of the Siachen Glacier.
The Indian Army dominates the glaciers, occupying the high ground on the Saltoro ridge on the western edge of the glacier, restricting Pakistani forces to lower positions.

Ardennes Forest is a region of extensive forests, rough terrain, rolling hills and ridges located primarily in Belgium and Luxembourg, but stretching as well into Germany and France.
# PM held India – Luxembourg Virtual Summit with Prime Minister of Grand Duchy of Luxembourg recently. Luxembourg is a small country landlocked by Belgium, France and Germany, and a prominent financial centre.

Statement 1 is correct. Prompt Corrective Action or PCA is a framework under which banks with weak financial metrics are put under watch by the RBI.
The Reserve Bank has specified certain regulatory trigger points, as a part of prompt corrective action (PCA) Framework, in terms of three parameters, i.e. capital to risk weighted assets ratio (CRAR), net non-performing assets (NPA) and Return on Assets (RoA), for initiation of certain structured and discretionary actions in respect of banks hitting such trigger points.
Statement 2 is correct. The PCA framework is applicable only to commercial banks and not extended to co-operative banks, non-banking financial companies (NBFCs) and Financial Market Infrastructure (FMI).

Both statements are correct.
The India International Exchange (IFSC) Limited (India INX) is India’s first international exchange in International Financial Services Centre (IFSC) located at the Gujarat International Finance-Tec City (GIFT City). India INX is a subsidiary of BSE Limited. The Exchange commenced its operations from Jan 16, 2017.
It has recently signed MoU with the Luxembourg Stock Exchange for cooperation in financial services industry, maintenance of orderly markets in securities respective country, ESG (environmental, social and governance) and green finance in the local market.