Weekly CA Quiz: April 2019 4th week with PDF

Explanation: India has been nominated as the “Guest of Honour” country at the 29th edition of the Abu Dhabi International Book Fair (ADIBF). Indian Ambassador to the UAE, Navdeep Singh Suri said that India’s selection as the guest of honour reflects the strong relations between the leadership and the people of the UAE and India.

Explanation: BuyUcoin, which is the second oldest Cryptocurrency Exchange in India, announces the launch of a new and unique platform for wholesale cryptocurrency trading which allows its users to trade on a large scale with low price fluctuations. The platform currently works on free trading model i.e. charges zero fee on any trade.

Explanation: Kotak Mahindra Bank (Kotak) announced the launch of an industry-first debit card-based authentication solution on NPCI’s e-Mandate API platform. Kotak has become the first Destination Bank to go live with both Net Banking and Debit Card-based e-mandate authentication.

Explanation: The Reserve Bank of India is the first central bank in the Asia-Pacific region to begin an explicit interest rate easing cycle buoyed by benign food inflation and easier global financial condition.

Explanation: India’s retail mall space is set to rise to 95 million square feet (msf) by 2021 from 75 msf now in the top 7 cities of the country with NCR, Hyderabad and Bengaluru leading the supply, according to a report by Reed Exhibitions India titled ‘Malls of India’.

Explanation: Uber Asia Pacific Head Amit Jain has resigned from the company after a four-year stint at the US-based ride-hailing company. Jain, who was elevated to the APAC position in May last year after serving as the India head, will remain with the company till the end of May.

Explanation: Rajendra Kumar Nayak has taken charge as the 52nd Controller General of Defence Accounts (CGDA). Nayak is 1983 batch Indian Defence Accounts Service (IDAS) officer.

Explanation: Former Dena Bank MD Karnam Sekar is set to take over as the new Managing Director and CEO of Indian Overseas Bank from July 1, 2019. He will take over from R Subramaniakumar, who was instrumental in taking measures to turn around the bank, which has been reporting loses due to high NPA.

Explanation: The Finance Ministry has approved 8.65 per cent rate of interest on Employees’ Provident Fund (EPF) for 2018-19 as decided by retirement fund body EPFO, benefitting more than 6 crore formal sector workers.

Explanation: State Bank of India announced the country’s first ‘Green Car Loan’ (Electric Vehicle) to encourage customers to buy electric vehicles.

Explanation: The Reserve Bank of India (RBI) said that it has divested its entire stake in Nabard and National Housing Bank (NHB) for Rs. 20 crore and Rs. 1,450 crore. The divestment, RBI said, was based on the recommendations of the Narasimham Committee-II.

Explanation: The Rabindranath Tagore Literary Prize 2019 was awarded to author Rana Dasgupta for his 2010 novel “Solo” which is a tale of estrangement and the ultimate failure of material existence. It is the second edition of the Rabindranath Tagore Literary Prize.

Explanation: Benny Antony, Joint Managing Director, the Kochi-based Arjuna Natural Ltd, has been conferred with the National Intellectual Property Award for 2019 in the category of Top Individual for Patents and Commercialization.

Explanation: World Malaria Day 2019 was on April 25th, this annual event was a worldwide effort, to raise awareness of Malaria and funds for the treatment and prevention of malaria. The day also marked the continuing great achievements in the fight against Malaria.The theme is “ End Malaria for Good”.

Explanation: Young Indian shooters Manu Bhaker and Saurabh Chaudhary shot gold in the 10m Air Pistol Mixed Team event at the ISSF World Cup in Beijing. Bhaker and Chaudhary outclassed Jiang Ranxin and Pang Wei of China 16-6 in the final, which was held in the new format wherein top two teams battled for the gold medal.

Explanation: Russia has successfully tested the world’s first floating nuclear power plant (NPP), Akademik Lomonosov, a subsidiary of Rosatom nuclear corporation stated. Reactors of the floating atomic block were launched in November 2018.

Explanation: The Reserve Bank of India will shortly issue Rs. 20 denomination banknotes in the Mahatma Gandhi (New) Series, bearing the signature of Shri Shaktikanta Das, Governor, Reserve Bank of India.

Explanation: Indian economy will grow below its potential in 2019-20, said a report from the Hong Kong-based The Economist Intelligence Unit (EIU) while warning it is set to lower its own current estimate of 7.2 per cent for the country’s GDP growth rate in its next forecast round.

Explanation: India’s ace cueist Pankaj Advani defeated Ehsan HeydariNezhad of Iran 6-4 to claim the inaugural Asian Snooker Tour title. The Indian had earlier defeated Aung Phyo of Myanmar in the semifinal.

Explanation: A pall of gloom descended on the mountaineering fraternity as veteran lady mountaineer of the country Rama Sengupta Paul, who led the first successful all-women expedition to Kedarnath Dome in Garhwal Himalaya, passed away following a cardiac arrest at a city hospital in Kolkata.

The 5th Asia Pacific Broadcasting Union (ABU) Media Summit on Climate Action and Disaster Preparedness was Kathmandu, Nepal. The theme of this summit is “Media Solutions for Sustainable Future: Saving Lives, Building Resilient Communities”.

Explanation: The Insurance Regulatory and Development Authority of India (IRDAI) set up Suresh Mathur Committee to review regulatory framework on micro insurance, and to recommend measures to increase demand for such products.

Explanation: Arunachalam Muruganantham, known as the maker of low-cost sanitary napkins in India with his invention of cellulose-based pads, has made it to Fortune magazine’s 2019 list of the world’s greatest leaders. Muruganantham ranks 45th in the list released by the American publication.

Explanation: The Reserve Bank of India (RBI) extended the “ombudsman scheme” for non-banking financial companies (NBFCs) to non deposit-taking NBFCs with asset size of at least Rs 100 crore.

Explanation: Australia’s Claire Polosak became the first woman to officiate in a men’s one-day international in the World Cricket League Division 2 final match between Namibia and Oman in Windhoek.

Explanation: The All India Football Federation (AIFF) has appointed Romanian DoruIsac as its new technical director. Isac, who has nearly three decades of experience in various coaching roles in several countries, last worked as the sporting director of three-times J-league Champions Yokohama Marinos FC.

Explanation: Accolades continue to pour in for Derek C Lalchhanhima, the six-year-old boy from Mizoram, who recently restored our fledgeling faith in humanity by rushing to the hospital a chicken he had accidentally run over with his cycle.

Explanation: International Dance Day is observed on 29TH April.The theme for this year is “Dance and Spirituality”.

Explanation: Former India footballer Pungam Kannan who was facing acute financial crisis, died at a city hospital following prolonged illness. He was 80. A forward, Kannan played 14 matches for India.

Explanation: World number three Petra Kvitova beat Estonian Anett Kontaveit to win Stuttgart’s Porsche Grand Prix for her second title of the year as she prepares for next month’s French Open.

Explanation: The “Politics of Jugaad:The Coalition Handbook” new book authored by journalist Saba Naqvi examines possibility of coalition government after 2019 Lok Sabha polls.

Explanation: Srilankan President Maithripala Sirisena used his emergency powers to issue an order to ban burqa,veil or covering of face in public places in any manner which prevents anyone from being identified.

Explanation: RBI is said to have recommeneded stringent norms on opening and running of current accounts of corporate borrowers in an attempt to check fund diversion. Current accounts can “only be opened” with the main bank in a lending consortium while other lenders having collection accounts will have to transfer funds at the end of the day to the current account with the consortium lead.

Explanation: Cyclone ‘Fani’ intensified into a ‘severe cyclonic storm’ and is headed towards the Odisha coast. IMD said it could take a shape of an ‘extremely severe cyclone’, prompting the government to put the National Disaster Response Force and the Indian Coast Guard on high alert.

Explanation: India’s decision to skip the Belt and Road Forum (BRF) may have led to the exclusion of the Bangladesh- China- India- Myanmar (BCIM) Economic corridor from the list of projects covered by the China-led Belt and Road Initiative (BRI) umbrella.

Explanation: Japanese Emperor Akihito abdicated thanking the people for their support over the last three decades and expressing hope for a peaceful future. The popular Akihito, 85, the first monarch to abdicate in two centuries, had sought to ease the painful memories of World War Two and bring the monarchy closer to the people, including those marginalised in society.

Explanation: If no action is taken, drug-resistant diseases could cause 10 million deaths each year by 2050 and damage to the economy as catastrophic as the 2008-2009 global financial crisis, a new report by United Nations (UN) has warned.

Explanation: Spotify has reached 100 million paid subscribers, a first for any online music service, adding more customers in the latest quarter than analysts expected and boosting confidence the company has lots of room to grow. Spotify Technology SA took on 4 million customers in the quarter, compared with the 3.3 million forecast by analysts.

Explanation: Valtteri Bottas won the Azerbaijan Grand Prix to retake the Formula One world championship lead from team mate Lewis Hamilton after a stunning fourth successive one-two finish for Mercedes. Sebastian Vettel in his Ferrari was a distant third as the Italian pre-season favourites again failed to convert their promise into a result.

Explanation: Stephanie Frappart became the first woman to referee a French Ligue 1 match. The 35-year-old Frappart took charge as Amiens hosted Strasbourg, where she was called into action numerous times, handing out yellow cards to the likes of Strasbourg’s Ibrahima Sissoko and Ludovic Ajorque.

Explanation: Arjuna awardee and star Indian golfer Gaganjeet Bhullar won the outstanding achievement as a player award at the fourth edition of the annual India Golf Industry Association (GIA) awards at the Delhi Golf Club in New Delhi.

Explanation: The government announced the appointment of former army chief Dalbir Singh Suhag as India’s next high commissioner to Seychelles. Suhag was the chief of army staff when India conducted surgical raids across the Line of Control into Pakistan-administered Kashmir in 2016 after the terrorist attack on an Indian army camp in Uri.

Explanation: The UAE’s flag carrier Etihad Airways has become the first airline in the Gulf region to operate a flight without any single-use plastics on board, in a bid to raise awareness about pollution on Earth Day. According to the Abu Dhabi-based national airline of the UAE, the flight EY484 landed in Brisbane on April 22, Earth Day.

Explanation: National Award-winning filmmaker Madhur Bhandarkar, popular scriptwriter Salim Khan and yesteryears dancing diva Helen were honoured with the prestigious Master Deenanath Mangeshkar Award at a ceremony in Mumbai.

Explanation: World Intellectual Property Day is observed annually on 26 April. The theme of this year is “Reach for Gold: IP and Sports.”

Explanation: Max Bupa, one of India’s leading standalone health insurance players, and HDFC Bank, one of India’s leading private sector banks, announced the launch of ‘digital first’ propositions for the bank’s 40+ million customers, spread across its 5,000+ branches.

Explanation: Niti Aayog’s Atal Innovation Mission (AIM) and Unicef India signed a Letter of Intent (LoI) to provide an open platform to promote participation, skilling and empowerment among young children across different communities

Explanation: Indian Army signed an MoU with National Hydroelectric Power Corporation Limited (NHPC) to construct tunnels on borders with China and Pakistan for storage of ammunition and other war-related equipment.

Explanation: Uday Kumar Varma, a former bureaucrat who took over as the Secretary General of Assocham in August last year, has resigned from the post. Assocham Deputy Secretary General Saurabh Sanyal is discharging the duties of secretary general at present.

Explanation: Garia festival is an important festival for the Tripuri tribal community of the state. The Garia dance is very popular among the Tripuris and the Reangs. It is held on the seventh day of the month of Vaishakha. This year’s Garia puja was on 21 April.

Explanation: The government has revamped its high-level anti-hijack panel to include top officials the Prime Minister’s Office, especially National Security Advisor AjitDoval, who will be empowered to coordinate any immediate military response.

Explanation: The Economist Intelligence Unit (EIU) has released the 2019 Index of Cancer Preparedness (ICP) in which India’s overall rank is 19th out of 28 countries, with a score of 64.9. Australia tops the ICP, followed by the Netherlands and Germany. Saudi Arabia, Romania, and Egypt are at the bottom in Index.

Explanation: SBI General Insurance said it has launched a product to protect businesses from financial and reputational losses due to cyber attacks. In the initial phase, the focus will be on SMEs and mid-market businesses, but later the product can cater to larger business conglomerates as well.

Explanation: Bajrang Punia opened India’s medal tally at the Asian Wrestling Championships with a gold in the 65kg freestyle category, beating Sayatbek Okassov 12-7 in the final in Xi’an, China. Meanwhile, Praveen Rana settled for silver and Satyavrat Kadian won bronze in 97kg category.

Explanation: Renowned city-based chronicler and writer-journalist S Muthiah passed away in Chennai. He was 89. Muthiah was born in 1930 in the erstwhile Madras Presidency, in what is today the Ramanathapuram district of Tamil Nadu.