Weekly CA Quiz: March 2021 4th week

Nagaland Health and Family Welfare Minister S Pangnyu Phom launched i-Learn, a capacity building and performance tracking application for Community Health Officers, CHOs in the state at his office chamber in Kohima.

India, Pakistan, China and other members of the Shanghai Cooperation Organisation (SCO) will hold a joint anti-terrorism exercise this year.
The decision to hold the joint exercise “Pabbi-Antiterror-2021” was announced during the 36th meeting of the Council of the Regional Anti-Terrorist Structure (RATS) held in Tashkent, Uzbekistan.

ICICI Bank announced the launch of an instant EMI (Equated Monthly Instalments) facility on its internet banking platform.
Called ‘EMI @ Internet Banking’, the facility aims to offer increased affordability to millions of pre-approved customers, as it enables them to convert their high-value transactions up to ₹5 lakh into easy monthly instalments.
ICICI Bank is the first in the industry to introduce an instant EMI facility on its internet banking platform. The Bank has tied up with BillDesk and Razorpay, leading online payment gateway companies to offer this facility.

Nabard’s wholly-owned subsidiary NABSanrakshan Trustee Pvt Ltd (NTPL) has been appointed by the government as a trustee for Rs 750 crore Credit Guarantee Fund under Animal Husbandry Infrastructure Development Fund (AHIDF).

Non-performing assets of banks declined to Rs 5.70 lakh crore in December 2020 and the recovered amount stood at Rs 2.74 lakh crore following a slew of measures taken by the government, Union Minister Anurag Singh Thakur told.

To bring more people under the ambit of health insurance, Insurance Regulatory and Development Authority of India (Irdai) has hiked the maximum cover under the standard health insurance plan — Arogya Sanjeevani Policy — from Rs 5 lakh earlier to Rs 10 lakh.
The insurance regulator has made it mandatory for insurers to offer a sum insured between Rs 50,000 to Rs 10 lakh under the Arogya Sanjeevani policy as against the previous range of Rs 1 -5 lakh.

American credit rating agency Fitch has revised India’s GDP growth estimate to 12.8% for next fiscal from the previous 11% on the back of a stronger carryover effect, a looser fiscal stance, and better virus containment.

Power Grid Corporation of India Limited, a central PSU, has established an e-Tendering Portal-PRANIT. This will lead to less paperwork, ease of operation and make the tendering process more transparent.

Yuvraj Singh and Yusuf Pathan struck quickfire fifties as India Legends beat Sri Lanka Legends by 14 runs to win the inaugural Road Safety World Series T20 2020-21 at the Shaheed Veer Narayan Singh International Stadium in Raipur.
Winners – India Legends, Runners-up – Sri Lanka Legends
Cracking Player of the Match (FINAL) – Yuvraj Singh – $ 1000
Player of the Match (FINAL) – Yusuf Pathan – Rs 1.25 lakh
Player of the Tournament – Tillakaratne Dilshan – Rs 2 lakh.

Uttar Pradesh Chief Minister Yogi Adityanath launched UPFPO Shakti Portal as part of Kisan Kalyan Mission at an event in Gorakhpur. The portal, which is the first of its kind in the country, is aimed at benefitting the farmers at the grassroots level.

Egyptian writer, activist, and physician Nawal El Saadawi has died. She was 89.

Every year on March 24, we observe World Tuberculosis Day to spread awareness regarding this fatal disease. The theme of World Tuberculosis Day 2021 is ‘The Clock is Ticking’.

The e-commerce sector in India is predicted to grow at a 27% CAGR over 2019-24 and is expected to reach $99 billion by 2024, according to a report released by EY-IVCA Trend Book 2021.

The Indian Style Wrestling Association of India (ISWAI) has been recognized as a National Sports Federation (NSF) by the Sports Ministry, making it eligible to receive funding and support from the government.

India continued to stay out of the Kearney FDI Confidence Index for the second year in a row, a report by the global consultancy firm showed with only three developing economies- China, the UAE, and Brazil-making it in the top 25.
The US retained its top position for investment attractiveness and was followed by Canada, Germany, the UK and Japan.

India ranked 40th in 2020, scoring 38.4 out of 100 on a set of 50 among 53 global economies on the latest annual edition of the International Intellectual Property (IP) Index released by the US Chamber of Commerce Global Innovation Policy Centre (GIPC). This is the ninth IP index released by the GIPC.

The Finance Ministry has reintroduced the clause within the Earnings tax act that offered for preferential 5% withholding tax relevant to overseas portfolio buyers (FPIs).

Finance Minister Nirmala Sitharaman raised the limit for tax exemption on interest earned on provident fund contribution by employees to Rs 5 lakh per annum in specified cases as against Rs 2.5 lakh proposed in the Budget.

Well known Hindi writer Prof. Sharad Pagare will be conferred with the prestigious Vyas Samman – 2020 for his novel ‘Patliputru Ki Samragi.’

Andaman and Nicobar Islands Lt. Governor Admiral D K Joshi declared that the UT achieved 100 percent Functional Household Tap Connection (FHTC) coverage in Islands. With this, the Andaman and Nicobar Islands becomes the third state/UT in the country to achieve the target after Goa and Telangana under Jal Jeevan Mission.

Indian Coast Guard Ship ‘Vajra’ was commissioned by General Bipin Rawat, Chief of Defence Staff at Kattupalli in Chennai. This is the sixth in the series of seven Offshore Patrol Vessel constructed by M/s Larsen & Toubro Ltd.

To further boost the animal husbandry and veterinary sector in Andhra Pradesh, the state government has now decided to set up “India’s first government-run ambulance network” for animals.

Government think tank Niti Aayog said it has constituted two task forces that will recommend a policy framework for the enforcement of contracts as well as effective conciliation mechanism.
One task force, which will suggest facilitation of speedy resolution of contractual disputes between private entities and the government, will be headed by Niti Aayog CEO Amitabh Kant.
The second task force, which will recommend a policy framework for the enforcement of contracts, will be led by Niti Aayog Vice Chairman Rajiv Kumar and will have members from key ministries and departments.

As the countdown for the ICC Women World Cup 2022 begins, the ICC has released an official song ‘Girl Gang’ by Gin Wigmore (New Zealand singer-songwriter) for the tournament.

Afghanistan’s Asghar Afghan went past former India captain MS Dhoni to become the most successful captain in T20 internationals.

Indian Overseas Bank (IOB) launched ‘IOB Trendy’, a savings account customised for the growing millennial population in the country by keeping their banking preferences in mind.

Promising Manish Narwal shattered the world record en route clinching the gold in the P4 mixed 50m pistol SH1 event on the penultimate day of the 2021 Para Shooting World Cup.

Lakshadweep and Jammu and Kashmir’s Budgam district are the first in the country to be declared TB-free, Union Health Minister Harsh Vardhan Singh said on the occasion of World Tuberculosis Day celebrations at Dr Ambedkar International Centre.

World’s First Ship Tunnel is being made in the Norwegian mountains as the country has given approval for a tunnel bypassing the Stadhavet Sea.

Kerala based ESAF Small Finance Bank had been awarded ‘Great place to work’ certification by the Great place to Work Institute.

The government appointed senior IAS officer Sanjeev Kumar as the chairman of Airports Authority of India (AAI).

Senior bureaucrat Saurabh Garg has been named as the new Chief Executive Officer (CEO) of Unique Identification Authority of India (UIDAI). Prior to Garg, Ajay Bhushan Pandey was the CEO of UIDAI.

Atish Chandra has been appointed as Chairman and Managing Director, Food Corporation of India in the rank and pay of Additional Secretary.

Khelo India Scheme has been extended to 2025-26 from 2021-22 , Sports Minister Kiren Rijiju announced in Rajya Sabha.
An amount of Rs 8750 crore has been estimated as financial implication of the new Khelo India Scheme (2021-22 to 2025-26) in the EFC memorandum furnished to the Ministry of Finance. An amount of Rs 657.71 crore has been allocated in the Budget Estimate (B.E.) for the year 2021-22 under the Khelo India Scheme.

India is likely to emerge as the world’s third largest economy in 2031 (fiscal 2031-32), suggests a recent report by BofA Securities, and should touch Japan’s nominal GDP (in USD) that year.

Cochin Shipyard Ltd. delivered MV ‘Sindhu’ A 500 pax passengers cum 150 MT Cargo Vessel built indigenously for Andaman and Nicobar.

Health Minister Dr Harsh Vardhan launched ‘Tribal TB Initiative’ in pursuit of TB Mukt Bharat. Speaking on the occasion, he said that government accords top priority to ensuring Universal Access to free treatment and care for TB across the country.

Hyderabad-based startup, Maithri Aquatech said it has set up the world’s first mobile water-from-air kiosk and ‘Water Knowledge Centre’ in the smart city of Visakhapatnam.

American author Carmen Maria Machado has won the Rathbones Folio prize for her memoir, In the Dream House.

HDFC Bank was adjudged the India’s best bank for SMEs at the Asiamoney Best Bank Awards 2021. In its evaluation, the magazine said on its website – “HDFC Bank’s transformation of its micro, small and medium-sized enterprise (MSME) business over the past few years makes it a worthy winner of this award.”

Niyo announced the launch of NiyoX in partnership with Equitas Small Finance Bank. This state-of-the-art mobile banking solution for millennials offers a 2-in-1 account in the form of a digital savings account and a wealth management suite.

Uttar Pradesh Chief Minister Yogi Adityanath inaugurated Shaheed Ashfaq Ulla Khan Zoological Park in Gorakhpur. This is the first zoo in Purvanchal and the third in the state.

Soma Mondal, chairperson of state-owned Steel Authority of India Limited (SAIL), was elected the new chairperson of Standing Conference of Public Enterprises (SCOPE), while Pradip Kumar Das, CMD, IREDA has been entrusted Vice Chairman’s role after the biennial elections.

S&P Global Ratings raised India’s growth forecast for financial year 2021-22 to 11% from 10% earlier, led by an expansionary fiscal policy aimed at boosting domestic private spending.

BharatPe has rolled-out its innovative lending product- Distributor to Retailer (D2R) Finance which will focus specifically on empowering Small and Medium Enterprises. With this new lending product, the company will offer collateral-free loans of upto Rs. 50 lakhs for a period of 7 days to 30 days.

YES BANK announced the launch of YES Essence Plus, a unique accelerator to support women-led startups in partnership with SHEROES, the women-only social network.

New Zealand’s parliament has passed legislation giving mothers and their partners the right to paid leave following a miscarriage or still birth, becoming only the second country in the world to do so.
India is the only other country with similar legislation.

The Maldives government has inaugurated a children’s shelter that was renovated under Indian grant assistance. A virtual ceremony was held to mark the completion of the Fiyavathi Home for Vulnerable Children in Hulhumalé in North Male.

The Uttar Pradesh government will start Affordable Rental Housing and Complexes (ARHC) scheme, a scheme offering affordable rental housing for poor people living in cities and a proposal to this effect was approved by the state cabinet presided over by Chief Minister Yogi Adityanath.

Japan International Cooperation Agency (JICA) has signed an agreement with the Government of India, to provide Japanese (ODA) loan amounting to Japanese Yen 52,036 million (approximately ₹3,717 crore) for the development of Phase 2 of ‘R6, 2A and 2B’ of Bangalore Metro Rail Corporation Limited (BMRCL)in Bengaluru.

Mercedes ace Lewis Hamilton won the season-opening Bahrain Grand Prix.

The World Financial institution (WB) raised its expectations for India’s FY22 progress to 10.1%, considerably larger than the 5.4% it had forecast earlier this month in January, in accordance with the March replace of its South Asia Financial Focus report.

India’s FY22 GDP may grow at 7%: UNESCAP

Finance Minister Nirmala Sitharaman said that India is going to set up a new Development Financial Institution with initial paid-up capital of around 3 billion Dollars with a lending target of 69 billion Dollars in next three years.

Special forces of India and the US carried out a joint military exercise at Bakloh in Himachal Pradesh to further enhance interoperability between the two sides. It was the 11th edition of the exercise ‘Vajra Prahar’.

Bihar is set to become the country’s first state to have two green energy efficient towns in Rajgir and Bodh Gaya. The towns will start getting solar energy through the first of its kind renewable energy project from 2023.

India is to participate in France-led naval drill La Perouse for the first time in the Bay of Bengal in Arpril 2021 with other QUAD member Countries.