Weekly CA Quiz: June 2018 2nd week with PDF

Explanation: Market regulator SEBI has set up a panel to recommend the ways to make stock market listing attractive for startups. The group will review the present Institutional Trading Platform (ITP) framework in the current context as well as identify areas, if any, which require further changes.

Explanation: The Appointments Committee of Cabinet (ACC)  has appointed senior bureaucrat S Ramesh as the Chairman of Central Board of Indirect Taxes and Customs (CBIC).

Explanation: NITI Aayog’s Atal Innovation Mission, AIM, has selected 3,000 additional schools for the establishment of Atal Tinkering Labs, ATLs. The selected schools will receive a grant of Rs 20 lakh spread over the next five years

Explanation: The Constitutional Council of Nepal has recommended Justice Deepak Raj Joshee as new Chief Justice of the Supreme Court.

Explanation: The 14-day long joint military training exercise SURYA KIRAN-XIII between India & Nepal culminated at Pithoragarh on June 12.

Explanation: The World Day against Child Labour is observed annually on June 12. The theme of World Day against Child Labour 2018 is ‘Generation Safe & Healthy’.

Explanation: Nagaland’s senior journalist and president of the Kohima Press Club (KPC), Xavier Rutsa died of heart attack while he was returning home from a meeting. He was 42.

Explanation: An International Conference on Information and Communication Technology (ICT) will be held in Kathmandu, Nepal from June 17. The Theme of two day conference is “Sustainable Development Goals for Smart Society ”.

Explanation: India will host the first military exercise of the BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) group focussing on counter-terrorism. The exercise is scheduled to be held in Pune in the second week of September 2018.

Explanation: Indian woman boxer Saweety Boora claimed a gold medal in the 75 kilogram category at the Umakhanov Memorial Tournament in Kaspiysk, Russia.

Explanation: Shri Piyush Goyal, Minister of Railways & Coal has launched a new App “Rail Madad” – An App to expedite &  streamline passenger grievance redressal.

Rail MADAD stands for Mobile Application for Desired Assistance During travel.

The Minister also launched a new App ‘Menu on Rails’, a Mobile Application developed by IRCTC for creating awareness to the Railway Passengers for the items served to them on their Rail Journey.

Explanation: The World Bank has forecast a growth rate of 7.3 percent for India for 2018-19 and 7.5 percent for the next two years, making it the fastest growing country among major emerging economies.

Explanation: India Meteorological Department, IMD will use flash flood guidance system for the first time in the country to forecast floods. Currently, the Central Water Commission issues flood warnings. The national weather agency is preparing to launch the service using Flash Flood Guidance System from the next month.

Explanation: With the inspiration of ‘Beti Bacho-Beti padao’ programme being initiated by the Prime Minister Narendra Modi, East coast Railways, Waltair Division has launched ‘SUBHADRA VAHINI’ programme for the security and protection of Women.

Explanation: India won the title of Intercontinental Cup Football Tournament after 2-0 victory in the final against Kenya at the Mumbai Football Arena.

Explanation: The 44th G7 summit was held on June 8–9, 2018, in La Malbaie, Quebec, Canada. This was the sixth time since 1981 that Canada has hosted the meetings.

Explanation: The central government has decided to set up India first national police museum in Lutyens’ Delhi. The museum is expected to be inaugurated on October 21 (Police Commemoration Day).

Explanation: The 11th World Hindi Conference (WHC) is being organized from 18-20 August 2018 in Mauritius by the Ministry of External Affairs, Government of India in association with the Government of Mauritius. The main theme of the Conference is “Hindi Vishwa Aur Bharatiy Sanskriti”.

Explanation: Rafael Nadal claimed an 11th French Open title in Men’s singles final in Paris after defeating Austrian Dominic Thiem in straight sets 6-4 6-3 6-2.

Explanation: The Northern Railways will now monitor cleanliness of its trains using WhatsApp groups supervised by senior officials. Every department will have separate WhatsApp groups, in which status report of cleanliness will be uploaded on a daily basis. including photographs.

Explanation: Ferrari’s Sebastian Vettel claimed the 50th win of his career by dominating the Canadian Grand Prix ahead of Valtteri Bottas and Max Verstappen.

Explanation: Odisha government has signed an MoU with Hyderabad-based Pullela Gopichand Badminton Foundation (PGBF) forthe establishment of P Gopichand Badminton Academy in Odisha.

Explanation: Legendary American photojournalist David Douglas Duncan, who was best known for his combat photographs captured during World War II, has died. He was 102.

Explanation: A team from the Physical Research Laboratory, Ahmedabad has spotted a distant planet six times bigger than Earth and revolving around a Sun-like star about 600 light years away. Both the planet and the star have been named EPIC.
EPIC 211945201b (or K2-236b) is the name given to the planet. The host star is named EPIC 211945201 or K2-236.

Explanation: Yes Bank, India’s fourth largest private lender, has launched the first-ever green deposit scheme named Green Future: Deposit. The Bank has set the target to raise up to Rs. 1,000 crore via this novel product offering.

Explanation: Central Electro Chemical Research Institute (CECRI), Karaikudi, Tamil Nadu under Council of Scientific & Industrial Research (CSIR) and RAASI Solar Power Pvt Ltd have signed a Memorandum of Agreement for transfer of technology for India’s first Lithium Ion (Li-ion) Battery project.

Explanation: Noted Assamese theatre personality Sukracharya Rabha, famed for his open air theatre festival, died of cardiac arrest at his village home in Goalpara district. He was 41.

Explanation: Renowned British Pakistani author Kamila Shamsie has won the Women’s Prize for Fiction, 2018 for her seventh novel titled “Home Fire”.

Explanation: Senior socialist leader and former vice-chairman of the Nashik District Central Cooperative Bank (NDCC), Laxman Patil–Bhosle alias ‘Lakhutatya’ died in Malegaon in Nashik district following illness. He was 84.

Explanation: In a unique initiative, the Vadodara Municipal corporation (VMC) has converted a garbage dumping ground located at Vadsar on the outskirts of the city into a museum of trees. This place has been named as ‘Urban forest – museum of trees’.

Explanation: Former NIA chief Shri Sharad Kumar has been appointed as the Vigilance Commissioner in the Central Vigilance Commission, New Delhi for a term of four years from the date on which he enters upon his office, or till he attains the age of sixty five years, whichever is earlier.

Explanation: Bangladesh defeated India in a nail-biting final of Asia Cup T20 2018 cricket tournament at the Kinrara Academy Oval in Kuala Lumpur. With the win, Bangladesh became the first side to beat India in an Asia Cup final.

Explanation: The 2018 Asian Junior Athletics Championships was the 18th edition of the International athletics competition for Asian under-20 athletes. The competition took place over four days from 7–10 June at Gifu Nagaragawa Stadium in Gifu, Japan.

Explanation: Top-ranked Romanian Simona Halep beat Sloane Stephens in final sets to claim her first Grand Slam title at the French Open.

Explanation: Veteran Goa Congress leader Shantaram Naik passed away after suffering a heart attack in Margao. He was 73. Mr Naik was a former Lok Sabha and Rajya Sabha MP. Mr Chodankar had recently taken over from Mr Naik as the state Congress president.

Explanation: Every year, June 8 is observed as World Brain Tumor Day. The day is meant for people who are suffering from brain tumor and help them deal with the condition in a better and more effective way.

Explanation: Legendary Brazilian tennis player Maria Bueno died in Sao Paulo. She was 78 years old. Maria Bueno won three Wimbledon and four US championship singles titles.

Explanation: India and China has signed two bilateral agreements during a meeting between Prime Minister Narendra Modi and Chinese President Xi Jinping in Qingdao on the sidelines of the 18th Shanghai Cooperation Organization (SCO) Summit. The agreements include continuing to share Brahmaputra water data during flood season and exporting non-basmati rice to China.

Explanation: Odisha’s most popular lyricist, Narayan Prasad Singh popularly known as Rasaraj died following prolonged illness. Singh was 86.

Explanation: Senior Congress leader and former Union minister LP Shahi has passes away. He was 98. Mr Shahi, who hailed from Bihar, was a freedom fighter and a former CWC member.

Explanation: Finance Minister Piyush Goyal has announced setting up of a committee under Sunil Mehta to give recommendations on the formation of an Asset Reconstruction Company for faster resolution of stressed accounts of public sector banks.

Explanation: The state government of West Bengal has decided to invest Rs 107 crore to check erosion at vulnerable areas along the banks of the Ganga and the Padma. The work will be completed by March 2019.

Explanation: New Zealand women’s team smashed the world record for the highest ever One-Day International (ODI) score by posting a mammoth 490-4 against Ireland at at the YMCA Sports Club, Dublin.

Explanation: US based Anthony Bourdain, celebrity chef, adventurer and television host, has died at the age of 61.

Explanation: The Himachal Pradesh government has decided to discontinue with the semester system in undergraduate coursesand re-establish the annual examination system from the coming session under Rashtriya Uchchatar Shiksha Abhiyan (RUSA). The government also decided to start nursery classes in 3,000 schools from the current year.

Explanation: Andhra Pradesh Chief Minister N Chandrababu Naidu has announced that the state was now Open Defecation Free (ODF) as it had achieved its goal of constructing 2.77 lakh individual toilets.

Explanation: World Oceans Day is held every year on 8th June to raise awareness of the vital importance of our oceans and the role they play in sustaining a healthy planet. The conservation action theme for World Oceans Day 2018 is “Preventing Plastic Pollution and Encouraging Solutions for a Healthy Ocean”.

Indian Prime Minister Narendra Modi for the first time participated in the Shanghai Cooperation Organization (SCO) summit in China as a full member. The 18th meeting of the Council of Heads of State of the Shanghai Cooperation Organization was held in Qingdao in China on June 9th and 10th.

Explanation: The Punjab government has launched a “Business First Portal” to facilitate ease of doing business in the state. The online Portal would facilitate the industrialists for Regulatory Clearances and Fiscal Approvals, real time tracking of applications at common platform.

Explanation: The 21st edition of the FIFA World Cup will be held in Russia from June 14 to July 15. Hosts Russia will take on Saudi Arabia in the opening match on June 14. Russia and Saudi Arabia are placed in Group-A. The game will take place in the Luzhniki Stadium in Moscow.

Explanation: Noted social reformer and founder of Sulabh International, Bindeshwar Pathak, has been honoured with Japan’s prestigious ‘Nikkei Asia Prize for Culture and Community’ for his significant work in tackling poor hygiene and discrimination.

Explanation: The Cabinet Committee on Economic Affairs has approved continuation of the Three Year Action Plan (2017-2020) of the scheme for Agricultural Education Division and ICAR Institutes to strengthen and develop higher agricultural education in the country. The total outlay for the scheme is Rs 2,225.46 crore including the states’ share of Rs 27.95 crore.

Explanation: The Union Cabinet has been apprised of the joint issue of a postage stamp between Department of Posts and Viet Nam Post on the theme “Ancient Architecture”. The commemorative joint issue stamps will be depicting Sanchi Stupa of India and Pho Minh Pagoda of Vietnam.

Explanation: NITI Aayog has come up with the Composite Water Management Index to overcome limitations on availability of water resources and the rising demand for water.

Explanation: The Union Cabinet has extended the tenure of the Commission constituted to examine sub-categorization within Other Backward Classes (OBCs) in the Central list. It has been extended till July 31, 2018. The tenure of the panel was ending on June 20.

Explanation: The Union Cabinet has approved a Rs 24,000 crore foreign direct investment (FDI) as additional share capital into private sector HDFC Bank. Even with this infusion, the FDI foreign equity will remain capped below 74 percent.

Explanation: Private sector lender YES Bank has re-appointed Rana Kapoor as MD & CEO of the bank for a period of three years.

Explanation: The Union Cabinet chaired by Prime Minister Narendra Modi has approved reconstitution of North Eastern Council (NEC) to bring the Council under the direct control of the Home Ministry. The reconstituted NEC will have Home Minister as the ex-officio chairperson of the Council. The DoNER Minister will be the Vice Chairman.

Explanation: The government has approved a 33 percent increase in carpet area of houses eligible for interest subsidy under its affordable housing scheme Pradhan Mantri Awas Yojana (Urban) to attract more beneficiaries. The carpet area of a house has been enhanced to 160 square metres from 120 square metres for Middle Income Group-1, while it has been increased to 200 square metres from 150 square metres in case of Middle Income Group-2.The new rules will be effective from 1st of January, 2017.

Explanation: Every year, on 14 June, countries around the world celebrate World Blood Donor Day. The theme for Blood Donation Day in 2018 is ‘Be there for someone else. Give blood. Share life’.

Explanation: An all women Naval mountaineering team led by Lt Cdr Kokila Sajwan summited Mount Deotibba an 10 Jun 2018. The expedition was flagged off by Vice Admiral AK Chawla, Chief Of Personnel on 28 May 18 from New Delhi. Mt Deotibba is the second highest peak (6001M) in the Pir-Panjal range in Himachal Pradesh and is considered to be a difficult peak to summit.

Explanation: An Indian-American woman, Dhivya Suryadevara has been named the Chief Finance Officer (CFO) of the US’ largest automaker, General Motors. Ms. Suryadevara, currently the vice president of corporate finance, will succeed Chuck Stevens, the General Motor’s present CFO, on September 1.

Explanation: The Ministry of Tribal Affairs has proposed to set up a National Tribal Museum along with a National Level Tribal Research Institute at Delhi.

Explanation: The Haryana government has raised the upper age limit of entry into government service from 40 to 42 years.

Explanation: Moving towards becoming cashless and digital economy, the Centre for Railway Information System (CRIS) has developed a mobile based application named ‘Utsonmobile’ for faster and more techno-advanced transactions in Indian Railways.

Explanation: Dr. Inder Jit Singh, 1985 batch Kerala cadre IAS officer, has been appointed to the post of  Secretary, Ministry of Coal which fell vacant after superannuation of Shri Susheel Kumar on April 30 2018.

Explanation: President Ram Nath Kovind will launch the flagship programme of the MSME Ministry- Solar Charkha Mission– on 27 June 2018 in New Delhi. The Mission will cover 50 clusters and every cluster will employ 400 to 2000 artisans.The mission aims to disburse subsidy of Rs 550 crore to the artisans.

Explanation: The Central government has approved Rs 1,900 crore Tourism Infrastructure Development Project of the Himachal Pradesh Government. The eight-year-long project will be funded by the Asian Development Bank (ADB).

Explanation: India has been ranked at 177 out of 180 countries in the 2018 Environmental Performance Index (EPI) with an air quality score of 5.75 out of 100. The top five countries in terms of green rankings are Switzerland, France, Denmark, Malta and Sweden.

Explanation: The 106th edition of the “Indian Science Congress” will be inaugurated by Prime Minister Narendra Modi at Lovely Professional University from January 3 to 7, 2019. The theme for the five-day science congress is ‘Future India: Science & Technology’.

Explanation: Former Saurashtra batsman Mulubha Jadeja died following age-related complications. He was 88. Mulubha, a right-handed batsman, represented Saurashtra and Railways between 1945 and 1964.

Explanation: The 2026 FIFA World Cup will be played in the United States, Canada and Mexico. The 2026 competition is set to be the first in FIFA’s history to feature 48 instead of the usual 32 teams.

Explanation: In a move to reduce number of casualties due to lightning strike incidents, the Odisha government has signed an MoU with US-based Lightning analysing  firm Earth Networks for a lightning detection and warning system in the state.

Explanation: The state government of Odisha has constituted a three-member expert committee, headed by Additional Chief Secretary Suresh Mohapatra, to recommend measures for streamlining the functioning of the 12th century Jagannath temple at Puri.

Explanation: A prominent Bangladeshi writer and publisher, Shahzahan Bachchu, was shot dead by unidentified 5 attackers in his ancestral village Kakaldi in Bangladesh’s Munshiganj district. He was 60.

Explanation: The Forbes 2018 Global 2000 list released recently features total 58 Indian companies on the overall list of 2,000 biggest, most powerful and most valuable companies from across the world. These include Reliance Industries at 83rd place which is the only company from India to be placed in the top-100 list.

Explanation: Oscar-winning music maestro A.R. Rahman’s upcoming authorised biography is scheduled to be out in August 2018. Titled “Notes of a Dream: The Authorized Biography of A.R. Rahman”, it has been written by Krishna Trilok, a Chennai-based writer shedding light on his life and philosophy.

Explanation: Fitch Ratings has raised India’s growth forecast for 2018-19 to b to 7.4 percent from 7.3 percent due to higher financing costs and rising oil prices as risks to growth. For 2019-20, it estimated the country to grow at 7.5 percent.

Explanation: India Women’s Cricket team opener Smriti Mandhana will become the first Indian player to appear in Kia Super League– the women’s cricket super league in England. Smriti was signed by Western Storm and will represent them in the upcoming edition of the tournament beginning 22 July that features six teams.

Explanation: Jordan’s King Abdullah has appointed former World Bank economist, Omar al-Razzaz, as the new Prime Minister of the country and has mandated to review a disputed tax system. The Harvard-educated economist Razzaz replaces Hani Mulki.