Weekly CA Quiz: October 2021 2nd week

Finance Ministry released 40,000 crore rupees to the States and UTs with Legislature under the back-to-back loan facility to meet the shortfall in GST Compensation.

The Ministry of Textiles has approved continuation of Comprehensive Handicrafts Cluster Development Scheme (CHCDS) with a total outlay of ₹160 crore. The scheme will now continue up to March 2026.

India officially joined the High Ambition Coalition for Nature and People, a group of more than 70 countries encouraging the adoption of the global goal to protect 30×30

The Reserve Bank of India (RBI)’s Monetary Policy Committee (MPC) kept the repo rate unchanged at 4 per centand the reverse repo rate at 3.35 per cent. This is the eighth time in a row that the Monetary Policy Committee MPC headed by RBI Governor Shaktikanta Das has maintained the status quo.

Fintech company BharatPe, announced its entry into the ‘Buy Now Pay Later’ (BNPL) category with the launch of ‘postpe’.

Indian grappler Anshu Malik has scripted history as she became the first Indian woman to win a silver medal in the World Wrestling Championships.

Germany has unveiled the logo for 2024 European Championship during a ceremony with a light show in the stadium that will hold the final.

The International Finance Corporation (IFC), an arm of the World Bank, has appointed Wendy Werner as the new country head for India.

P L Haranadh took over as chairman of Paradip Port Trust (PPT) and emphasised on making it the number one major port in the country.

Competition Commission chief Ashok Kumar Gupta has been given additional charge as the chairperson of the National Financial Reporting Authority (NFRA).NFRA Chairperson R Sridharan is demitting office after being at the helm for three years.

Tanzanian Novelist Abdulrazak Gurnah has won the 2021 Nobel Prize in literature for his uncompromising and compassionate penetration of the effects of colonialism and the fate of the refugees in the gulf between cultures and continents.

Every year, the Indian Air Force (IAF) Day is marked on 8 October.

Under the revised HBP 2.2, rates of health packages have been increased by 20 per cent to 400 per cent.The HBP 2.2 is expected to be rolled out from November, 2021.

The textiles ministry said it has signed a pact with Germany”s GIZ to increase the value addition from sustainable cotton production in India by focusing on sustainable cotton and strengthening downstream processing.

India and the UK kickstarted a two-week military exercise at Chaubatia in Uttarakhand to further strengthen bilateral defence cooperation between the two countries, the Indian Army said.

India’s rank has slipped by six places from last year to 90 on the Henley Passport Index, which lists the world’s most travel-friendly passports

Private sector lender Federal Bank said it has tied up with CredAvenue for portfolio management of its securitisation book and implemented CredPool, an institutional debt platform of CredAvenue.

Visa has launched card-on-file (CoF) tokenization services in India, in line with the recently issued Reserve Bank of India (RBI) guidelines.

 India’s economy is expected to grow by 8.3 per cent in the fiscal year 2021-22, less than the previous projection early this year before the country was hit by the second wave of the COVID-19 pandemic, the World Bank has said in its latest report.

Fitch Ratings slashed its FY22 growth forecast for India from 10% to 8.7%, citing the severe second COVID-19 wave, which it said would ‘delay rather than derail’ economic recovery.

Senior official ER Sheikh assumed charge as the first director general of the Ordnance Directorate, the newly-created entity to replace the Ordnance Factory Board (OFB).

The Nobel Peace Prize awarded to journalists Maria Ressa of Philippines and Dmitry Muratov of Russia for their fight for freedom of expression in their countries.

Karnataka Vikas Grameena Bank (KVGB), sponsored by Canara Bank, has bagged two national awards (‘APY Big Believers’ and ‘Leadership capital’) for significant enrolment under the Atal Pension Yojana (APY) from the Pension Fund Regulatory and Development Authority (PFRDA).

Department-related Parliamentary Standing Committees for 2021-2022 has been reconstituted. The Standing Committees have been reconstituted with effect from 13th September.

group of 136 countries have signed a landmark global treaty to enforce a corporate tax rate of at least 15%for large multinationals.

India’s GDP is expected to grow at 9.1% in 2021-22 as economic recovery, post the second wave of the pandemic, seems to be holding ground, FICCI said.

Austria’s Chancellor Sebastian Kurz has stepped down, after pressure triggered by a corruption scandal. Announcing this Mr Kurtz said that mystery of the honey-trap video has shook Austria and what’s required now is stability.

Guinea’s military government has named Mohamed Beavogui, a former civil servant and expert in agricultural finance, as prime minister to preside over a promised transition back to democratic rule following last month’s coup.

 India and Croatia have signed an agreement for academic collaboration in traditional medicine systems, especially in the field of ayurveda, according to a statement.

India’s largest crypto exchange CoinSwitch Kuber announced that it has roped in Bollywood actor Ranveer Singh as its first brand ambassador.

The traditional dye-painted figurative and patterned cloth called Karuppur kalamkari paintingsand the wood carvings of Kallakurichi have received geographical indication (GI) tags.

Indian Naval Fast Attack Craft (IN FAC) T 80 was decommissioned at Naval Dockyard, Mumbai in an impressive yet poignant ceremony. Rear Admiral Krishna Swaminathan, AVSM, VSM, Chief of Staff, Western Naval Command, was the Chief Guest on the occasion.

The book titled “The Custodian of Trust: A Banker’s Memoir” book by former SBI Chairman Rajnish Kumar has been released recently.

India and Croatia have signed an agreement for academic collaboration in traditional medicine systems, especially in the field of ayurveda, according to a statement.

India’s largest crypto exchange CoinSwitch Kuber announced that it has roped in Bollywood actor Ranveer Singh as its first brand ambassador.

The traditional dye-painted figurative and patterned cloth called Karuppur kalamkari paintingsand the wood carvings of Kallakurichi have received geographical indication (GI) tags.

Indian Naval Fast Attack Craft (IN FAC) T 80 was decommissioned at Naval Dockyard, Mumbai in an impressive yet poignant ceremony. Rear Admiral Krishna Swaminathan, AVSM, VSM, Chief of Staff, Western Naval Command, was the Chief Guest on the occasion.

The book titled “The Custodian of Trust: A Banker’s Memoir” book by former SBI Chairman Rajnish Kumar has been released recently.

India is set to host its largest naval exercise, Ex Milan, early next year for which 46 countrieshave been invited, a senior defence official said.

India and Nepal have signed two agreements aimed at boosting cross-border train services

Prime Minister Narendra Modi launched the Indian Space Association (ISpA), an industry body of government and private companies which aims to supplement the Centre’s efforts in commercial space exploration and space-based communication.

India agreed to a $200 million Line of Credit support for development projects in Kyrgyzstan, as External Affairs Minister S. Jaishankar held “cordial and constructive” talks with his Kyrgyz counterpart Ruslan Kazakbaev on a wide range of bilateral and global issues, including Afghanistan.

World football body, FIFA unveiled the official mascot of the U-17 Women’s World Cup India 2022 “Ibha” an Asiatic lioness representing women power.

Valtteri Bottas has won the F1 Turkish Grand Prix 2021. This is his first title of this season.

Well-known Malayalam writer Benyamin has bagged the 45th Vayalar Ramavarma Memorial Literary Award for his book “Manthalirile 20 Communist Varshangal”.

The unique clove growing in the hills of Kanyakumari district in Tamil Nadu has been awarded a geographical indication (GI) as ‘Kanyakumari clove’.

 U.S.based Canadian David Card, Israeli-American Joshua Angrist and Dutch-American Guido Imbens won the Nobel Economics Prize for insights into the labour market and “natural experiments”.

The Union Cabinet approved the second phase of the Swachh Bharat Mission-Urban and the Atal Mission for Rejuvenation and Urban Transformation till 2025-26.

a landmark event marking a milestone for the infrastructural landscape of India, Prime Minister Narendra Modi launched the ‘PM GatiShakti – National Master Plan’ for multi-modal connectivity to economic zones in the country.

Government has set a target to increase the number of Pradhan Mantri Bhartiya Janaushadhi Kendras to ten thousand by March 2024. Chemicals and Fertilizers Ministry said, the number of Janaushadhi stores has increased to eight thousand 366 and all the 736 districts have been covered.

The Reserve Bank of India granted a banking licence to Unity Small Finance Bank Ltd (USFBL), which was established jointly by the Centrum Financial Services Ltd (CFSL) and Resilient Innovations Private Limited (BharatPe), to carry on a SFB business in India.

International Monetary Fund (IMF) has projected that India will continue to be the world’s fastest growing major economy, clocking a growth rate of 9.5 per cent in 2021.

Rajnish Kumar, former chief of State Bank of India, has joined the Board of BharatPe, a fintech firm, as chairman.

Former IAS officer Amit Khare has been appointed as advisor to Prime Minister Narendra Modi.

 State-owned Energy Efficiency Services Ltd (EESL), a joint venture of NTPC Ltd and Power Grid Corp. of India Ltd, has appointed Arun Kumar Mishra as chief executive officer (CEO) on deputation.

The Vice President M Venkaiah Naidu presented the 22nd Lal Bahadur Shastri National Award for Excellence to the eminent pulmonologist and Director of the All India Institute of Medical Sciences (AIIMS), Dr Randeep Guleria at Upa-Rashtrapati Nivas.

India has retained the third rank in the Renewable Energy Country Attractiveness Index for the third consecutive years, released by consultancy firm EY.

The Asian Development Bank (ADB) said it is elevating its ambition to deliver climate financing to its developing member countries by $20 billion to $100 billion from 2019–2030.

The Department of Posts launched a digital version of the postal life insurance policy – ePLI bond, which subscribers can access through Digilocker.

World Steel Association (WSA) has elected Sajjan Jindal, Chairman and Managing Director of JSW Steel Ltd, as Chairman for the year 2021-22.

Senior bureaucrats Meera Mohanty and Ritesh Chauhan have been appointed as the joint secretary in the Prime Minister’s Office (PMO) and the chief executive officer of the Pradhan Mantri Fasal Bima Yojana respectively as part of a bureaucratic reshuffle effected by the Centre.

Hospitality firm OYO said it has appointed Paralympian Deepa Malik as an independent director on the company’s board.

 Indian wearable brand Fire-Boltt has named cricket captain Virat Kohli as its new brand ambassador.

Indian American Satya Nadella, the Microsoft CEO, is among the corporate leaders to receive this year’s prestigious C K Prahlad award for Global Business Sustainability Leadership.

Department of Biotechnology has launched the country’s first ‘One Health’ consortium.