Weekly CA Quiz: January 2022 3rd week

North Macedonia’s parliament has elected Dimitar Kovacevski as prime minister of a Social Democrat-led government after two months of political crisis.

37 Years old Shaylyn Ford was crowned as the winner of Mrs World 2022. She was crowned by the outgoing queen Kate Schneider from Ireland. Mrs. Jordan Jaclyn Stapp was voted first runner-up at the glamourous event in Las Vegas, while Debanjali Kamstra, who was representing the UAE for the first time in the pageant’s history, was named second runner-up.

Odisha’s Navdeep Kaur won the award for the Best National Costume at the recently concluded Mrs World 2022 pageant in Las Vegas, USA.

Founder and Managing Director of Texport Industries Narendra Kumar Goenka takes charge of Apparel Export Promotion Council (AEPC) as its new Chairman. He has replaced A Sakthivel.

A new biography titled “Bose: The Untold Story of An Inconvenient Nationalist” authored by Chandrachur Ghose will be released in February 2022.

Gujarat government has launched a helpline for senior citizens. Minister of Social Justice and Empowerment Pradip Parmar has launched this helpline with a toll-free number 14567.

A completely new Tupolev Tu-160M strategic missile-carrying bomber nicknamed the ‘White Swan by Russian military pilots performed its debut flight, the press office of the state tech corporation Rostec announced.

Appointments Committee of the Cabinet has approved the appointment of Shashank Goel, IAS of 90 batch as Additional Secretary in Ministry of Labour and Employment. Shailesh Kumar Singh, IAS of 91 batch has been appointed as Additional Secretary and Development Commissioner, Ministry of Micro, Small and Medium Enterprises. Chanchal Kumar, lAS of 92 batch has been appointed as Managing Director, National Highways and Infrastructure Development Corporation Ltd under the Ministry of Road Transport and Highways.

Tata Consultancy Services (TCS) announced that it has partnered with the Canada Running Series (CRS) as the new title sponsor and official IT services and technology consulting partner of the Toronto Waterfront Marathon and Virtual Race through November 2026.

Markets regulator Sebi has cut the timeline for filing settlement applications to just 60 days from the current 180 days in its effort to make the system more efficient.

Securities and Exchange Board of India (SEBI) has launched Saa₹thi, a mobile app on investor education. The new app aims to empower investors with accurate knowledge about the securities market.

Axis Bank & CRMNEXT Solution won the IBS Intelligence (IBSi) Global FinTech Innovation Awards 2021 for the “Best CRM (Customer Relationship Management) System Implementation”. It is one of the most prominent awards for global bankers and IT (Information Technology) consultants across the world.

Nepal s south-eastern Province 2 bordering India has been named Madhes Pradesh with Janakpur retained as its capital, settling a long-standing debate on the region’s official reference after it was made a province in 2015.

Global unemployment is expected to remain above pre-Covid-19 levels until at least 2023 and is estimated at 207 million this year, almost 21 million more than in 2019, according to a report from the International Labour Organisation that gives assessments on how labour market recovery has unfolded worldwide.

The Railway Protection Force (RPF) of the Western Railways zone of Indian Railways has launched a new initiative called “Mission Amanat” to make it easier for railway passengers to get back their lost luggage.

India will host five events this year as part of the BRICS Science Technology Innovation (STI) Steering Committee, the government said.

The Cabinet Committee on Economic Affairs (CCEA) approved infusion of ₹1,500 crore in Indian Renewable Energy Development Agency Limited (IREDA), which will help generate 10,200 jobs a year and reduce carbon emissions equivalent to approximately 7.49 million tonnes per year.

In the Union Territory of Jammu and Kashmir, the administration has declared Jerri settlement in Reasi district as the first Milk Village of the Union Territory and sanctioned 57 more dairy farms under the Integrated Dairy Development Scheme (IDDS) for the hamlet.

Finance and Corporate Affairs Minister Nirmala Sitharaman has authorized the release of an advance instalment of tax devolution to State Governments amounting to 47 thousand 541 crore rupees.

In a bid to strengthen vocational education, the ministry of skill development & entrepreneurship has signed a Memorandum Of Understanding (MOU) with the Indira Gandhi Open University (IGNOU).

Over 76 thousand 500 Agri Nutri Gardens have been established under the Agri Nutri Garden Week as against the target of 7 thousand 500. Deendayal Antyodaya Yojana – National Rural Livelihood Mission (DAY-NRLM) observed this week from 10th to 17th of January.

The Indonesian Parliament has passed a law to relocate the country s capital from Jakarta to Nusantara. This is the most significant advancement of an idea the country s leaders have been toying with for years.

Poet and activist Maya Angelou has become the first Black woman to appear on the US quarter, in a new version of the coin unveiled by the US Mint

India s National Stock Exchange (NSE) has been named as the world s largest derivatives market place for 2021, for the third year in a row.

Foreign Direct Investment (FDI) flows to India in 2021 were 26% lower, mainly because large M&A deals recorded in 2020 were not repeated, the UN trade body has said.

India Ratings & Research (Ind-Ra) expects gross domestic product (GDP) to grow 7.6 per cent in fiscal year 2022-23 (FY23), helped partly by continued government spending and a favourable global trade outlook, the ratings agency said.

The Gem and Jewellery Export Promotion Council (GJEPC) said it has signed a draft agreement with the Maharashtra Industrial Development Corporation (MIDC) for granting the possession of land for 95 years to set up the India Jewellery Park Mumbai (IJPM).

Senior bureaucrat Vikram Dev Dutt has been appointed as the chairman and managing director (CMD) of Air India Limited, the Ministry of Personnel, Public Grievances and Pensions said.

Dileep Sanghani has been elected as chairman of the Indian Farmers Fertiliser Cooperative (IFFCO).

Roberta Metsola, Centre-right Maltese lawmaker, was chosen to head the European Union Parliament. Metsola has become the only third woman to hold the position. She is also viewed as a political moderate despite the controversy over her anti-abortion stance.

Albert Bourla, chairman and CEO of Pfizer, has been awarded the 2022 Genesis Prize for his “leadership, determination and especially for his willingness to assume great risks” in developing a coronavirus vaccine in record time.

Rhapsody Music Foundation has won the prestigious Reimagine Education Award, which is is given by Wharton School s Alfred West Jr.

The Reserve Bank of India (RBI) approved the appointment of former comptroller and auditor general (CAG) of India Vinod Rai as independent chairman of Unity Small Finance Bank (Unity SFB), the newest private lender in India.

Barbados Prime Minister Mia Mottley was sworn in for a second term after her party appeared to have swept every legislative seat in the first elections the island nation held as a republic since casting off the British monarchy.

An Indian Navy P-8I long-range maritime reconnaissance aircraft participated in multinational Anti-Submarine Warfare (ASW) Exercise Sea Dragon-22 at Guam in the U.S. that saw the participation of Quad countries, Canada and South Korea.

Britain’s health service launched a NHS Food Scanner App that offers healthier alternatives as part of the government’s multimedia anti-obesity Better Health Campaign.

South Africa has launched its first satellite constellation developed entirely in the continent of Africa, a move hailed by the country’s Science and Innovation Minister Blade Nzimande as a milestone.

Dr Raghuvendra Tanwar, a professor emeritus and former registrar of the Kurukshetra University, has been appointed as chairman of the Indian Council of Historical Research (ICHR), New Delhi.

Odisha finished first out of 26 states and union territories of this year in the ‘IndiaSkills 2021’ contest with 51 medals. Odisha won 10 gold, 18 silver, 9 bronze, and 14 medallions. With 30 medals, Maharashtra remained in second place, while Kerala took third place with 25 medals.

Rakesh Anand Appointed Chef de Mission for CWG, Bhupender Singh Bajwa for Asian Games

Indian Grandmaster M R Lalith Babu won the Vergani Cup chess tournament on the basis of better tie-break score after he was tied with three others, including top-seed Anton Korobov.

Young shuttler Tasnim Mir became the first Indian to grab the world no 1 ranking in the under-19 girls singles in the latest BWF junior rankings.

Indian economy expected to grow 6.5% in the current financial year ending Maech 2022, (FY22), down from the earlier forecast of 8.4% amid rapid vaccination progress, the United Nations World Economic Situation and Prospects (WESP) 2022 report said.

India has finally bagged a $375 million (Rs 2,770 crore) deal to export BrahMos supersonic cruise missiles to the Philippines, which has had several bitter tiffs with China over territorial claims in the South China Sea in recent months.

Yes Asset Management’s name has been changed to White Oak Capital Asset Management with effect from January 12.

Cricketing great and former West Indies captain Clive Lloyd was given the knighthood for his service towards the game of cricket.

Power Grid Corporation of India Ltd has signed a joint development agreement with Africa50, a pan-African infrastructure investment platform to continue to develop the Kenya Transmission Project on a public-private partnership basis. When finished, the project will be Kenya’s first Independent Power Transmission (IPT) and will serve as a benchmark in Africa as the first PPP-based financing of transmission lines

CDSL has announced that its wholly owned subsidiary – CDSL Ventures Limited, has received market regulator Securities and Exchange Board of India’s (SEBI) approval to set up an Accreditation Agency for a period of 3 years with effect from February 01, 2022 for accreditation of eligible Investors.

Indifi Technologies has collaborated with Google Pay to provide instant loans to eligible small merchants on the Google Pay platform.

Paytm Payments Bank has emerged as the biggest receiver of UPI amount with 926.17 million transactions while public sector bank SBI topped the chart of being the biggest remitter in December, according to data released by the National Payments Corporation of India (NPCI).
State Bank of India followed PPBL as the second-largest beneficiary with 664.89 million transactions.

The Reserve Bank of India (RBI) has released the Annual Report of the Ombudsman Schemes for the year 2020-21 for nine months (July 1, 2020- March 31, 2021).
As per the report, the volume of complaints received was increased by 22.27 % on an annualized basis, BOS accounted for the major increase.

Defence Ministry launched three new initiatives for the welfare of ex-servicemen and their families on the occasion of Armed Forces Veterans Day,which is celebrated on 14 January every year.
Defence Minister Rajnath Singh announced that the Department of Ex-Servicemen Welfare has allotted 320 crore rupees to Armed Forces Flag Day Fund for the welfare veterans and their families.
Department of Ex-Servicemen Welfare also launched a dedicated Raksha Pension Shikayat Nivaran Portal designed to speedily redress pension, including family pension-related grievances of ex-servicemen and their dependents.

Prime Minister Narendra Modi announced that January 16 would now be celebrated as National Startup Day in order to spread the culture of startups in every nook and corner of the country.

India s Lakshya Sen secured his maiden Super 500 title by winning the Yonex-Sunrise India Open with a stunning straight-game victory over reigning world champion Loh Kean Yew of Singapore in the men s singles final.

As part of the ongoing Azadi Ka Amrit Mahotsav celebrations, Hon’ble Union Minister for Heavy Industries, Dr. Mahendra Nath Pandey dedicated India’s first, BHEL-built Coal to Methanol (CTM) pilot plant which was built by the Bharat Heavy Electricals Limited (BHEL) inBHEL’s Hyderabad unit, to the Nation.

Ministry of Textiles cleared 20 strategic research projects worth Rs 30 crores in the areas of Specialty fibres and Geotextiles under the chairmanship of Union Minister of Textiles, Piyush Goyal, informed the Ministry of Textiles.

A village Kumbalangi in Kerala which won acclaim as India’s first model tourism village, is set to become the country’s first sanitary-napkin-free panchayat.

India has announced a USD 900 million loan to Sri Lanka to build up its depleted foreign reserves and for food imports, amidst a shortage of almost all essential commodities in the island nation.

The navies of India and Russia conducted a passing exercise in the Arabian Sea, the Indian Navy said.

Marwadi Financial Services (MFS) announced a partnership with NSDL Payments Bank. This will allow MFS to offer its clients an integrated 3-in-1 savings account that combines the features of savings, demat and trading accounts.

Hyderabad-based blockchain startup Kling Trading India and Cosmea Financial Holdings’ joint venture Torus Kling Blockchain IFSC has signed an MoU with India INX to launch India’s first Bitcoin and Ethereum Futures ETFs and Metaverse US listed Large-cap Discount Certificates.

The United Nations forecast lower global economic growth for 2022 and 2023, saying the world is facing new waves of COVID-19 infections, persistent labour market challenges, lingering supply chain issues and rising inflationary pressures.

IT company Tech Mahindra announced acquisition of 100% stake in Europe-based Com Tec Co IT (CTC) and 25% stake in two insurtech platforms for a total of EUR 330 million (about Rs 2,800 crore).

Textile Ministry has said that Narendra Kumar Goenka has been appointed as new chairman of Apparel Export Promotion Council, AEPC.

Actor Harshaali Malhotra recently received the Bharat Ratna Dr Ambedkar National Award for her performance in the 2015 film Bajrangi Bhaijaan. She received the award from Maharashtra governor Bhagat Singh Koshyari.

Government extended the tenure of National Commission for Safai Karamcharis by three years up to March 31, 2025. The decision was taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi, I&B Minister Anurag Thakur told.

Union Minister for Road Transport and Highways Nitin Gadkari, inaugurated Madhavbaug’s (Vaidya Sane Ayurved Labs Ltd), Power MAP, in a ceremony that was held digitally.

The first BRICS Sherpas meeting of 2022 was held virtually under the Chinese chairship with the members thanking India for its BRICS chairship in 2021 and China has taken on the rotating chairmanship of BRICS in 2022.

Fintech company Lendingkart announced that it has entered into a co-lending partnership with Canara Bank to provide low-cost business loans of up to ₹10 lakh to micro, small and medium enterprises (MSMEs) across the country.

Reliance Jio has overtaken state-run Bharat Sanchar Nigam Limited (BSNL) to become the top service provider in the fixed landline broadband segment, according to the monthly telecom subscribers report published by Telecom Regulatory Authority of India (TRAI)