Weekly CA Quiz: August 2019 1st week with PDF

The commerce and industry ministry has notified the constitution of a National Traders’ Welfare Board that will identify ways to improve access to funds for this unorganised sector and suggest measures to simplify acts and rules applicable to traders.

In a major boost to national food security, government launched the One Nation-One Ration Card scheme on a pilot basis in Telangana, Andhra Pradesh, Maharashtra and Gujarat.

Rural India is poised to become Open Defecation Free (ODF) by 2nd October this year due to the successful implementation of Swachh Bharat Mission (Gramin).

The West Bengal Government has launched an awareness campaign for preserving the greenery and keeping the environment clean.

Bureau of Indian Standards (BIS) Director General Ms. Surina Rajan said that BIS would set up a Pashmina testing centre in Leh, in partnership with the lab of Ladakh Autonomous Hill Development Council (LAHDC), Leh.

The Department of Administrative Reforms & Public Grievances (DARPG), in association with Union ministry of electronics and information technology (MeitY) and the Meghalaya government will organise the 22nd National Conference on e-Governance 2019 on August 8 and 9 in Shillong, Meghalaya.

Cabinet has given nod to the setting up of ISRO Technical Liaison Unit (ITLU) at Moscow in Russia. The unit will collaborate with Space agencies and industries in Russia and neighbouring countries for mutually synergetic outcomes.

Global analytical firm CRISIL sliced its estimate of India’s gross domestic product (GDP) growth by 20 basis points to 6.9 per cent for the current fiscal 2019-20 following a triangulation of downside risks

Giriraj Prasad Gupta, a 1983-batch Indian Civil Accounts Service (ICAS) officer, took over as the Controller General of Accounts (CGA) with effect from August 1, 2019.

Former Intelligence Bureau officer RN Ravi was sworn in as the 20th governor of Nagaland. He succeeded Padmanabha Acharya.

India extended a line of credit worth USD 170 million for the installation of water-related projects in Guinea during President Ram Nath Kovind’s last-leg of the three-nation tour to West Africa.

The Innovating for Clean Air (IfCA), is a UK-India joint initiative providing Indian and UK stakeholders opportunities to test interventions related to air quality and EV integration, was launched in Bengaluru.

Bengaluru will host the 10th AASF Asian Age Group Championships 2019 for the first time, giving the Indian swimming enthusiasts an opportunity to witness the largest aquatic event in the continent.

According to the World Bank, India has been pushed to the 7th place in the global GDP rankings in 2018. India’s GDP was at $2.7 trillion in 2018. In 2017, India had emerged as the 6th largest economy.

Foreign Ministers from South East Asia attended the 52nd ASEAN summit in Bangkok. The annual meeting opened with a call from the host Thailand for deeper integration to expand trade and bolster prosperity in the region amid rising global challenges.

To further ease the funds for the housing sector, National Housing Bank (NHB) will provide additional liquidity infusion facility of Rs 10,000 crore to Housing Finance Companies (HFCs). This will be an additional liquidity infusion for individual loans for affordable housing

East Bengal club will officially start the centenary celebrations on its foundation day with a glittering ceremony at the Netaji Indoor Stadium.

IAS Officer Guruprasad Mohapatra assumed charge as the secretary of the Department for Promotion of Industry and Internal Trade.

President Ram Nath Kovind has been awarded the National order of Merit by the President of Guinea for his exceptional contribution to the advancement of overall relations and development of mutual cooperation between India and Guinea and for promoting friendship and partnership between the people of both the countries.

A joint venture company Khanij Bidesh India limited, KABIL has been set up with the participation of three Central Public Sector Enterprises, CPSEs to ensure supply of critical Minerals to Indian domestic market.

Gujarat Chief Minister Vijay Rupani has launched the ‘Vhali Dikri Yojna’ from his home town Rajkot. The scheme for the welfare of girl child has been launched to mark the 63th birth day of Chief Minister.

Maharashtra became the first state to adopt a digital fingerprint and iris scanning system to aid police investigations.

Flipkart, India’s leading e-commerce marketplace launched ‘Flipkart Samarth’ – a breakthrough initiative aimed at bringing India’s artisans, weavers, and handicrafts producers onto e-commerce.

A 23-year-old Indian-origin doctor has been crowned Miss England after fending off competition from dozens of other models.Bhasha Mukherjee, 23, from Derby, holds two different medical degrees, has an IQ of 146, making her officially a ‘genius’ and is fluent in five languages.

Senior Indian journalist Ravish Kumar was awarded this year’s Ramon Magsaysay Award, regarded as the Asian version of the Nobel Prize.

World Breastfeeding Week is celebrated every year from 1 to 7 August to encourage breastfeeding and improve the health of babies around the world. It commemorates the Innocenti Declaration signed in August 1990 by government policymakers, WHO, UNICEF and other organizations to protect, promote and support breastfeeding.This year’s World Breastfeeding Week slogan is “Empower Parents, Enable Breastfeeding”.

Union Home minister Amit Shah will head the panel constituted to combat incidents of mob violence and lynching across the country. The government had formed a Group of Ministers (GoM) last year to deliberate on incidents of lynching and make recommendations. When constituted, the panel was headed by then Home minister Rajnath Singh.

The Ministries of Earth Sciences and Agriculture have launched a mobile application ‘Meghdoot’ that will provide location, and crop and livestock-specific weather-based agro advisories to farmers in local languages.

The Union government will enrol around 150 million workers over the next three years under its flagship pension scheme Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM), bringing more informal sector workers under the social security net.

India has been ranked as the 46th highest risk country in the world in the Water Stress Index 2019, formulated by London-based risk analytics firm Verisk Maplecroft.

The Reserve Bank of India (RBI) allowed domestic banks to directly sell their bad loans in manufacturing and infrastructure sectors to investors abroad as part of one-time settlement (OTS) exercises. The move will allow overseas investors to take direct loan exposure to Indian corporates.

LIC Housing Finance (LIC HFL) announced that Siddhartha Mohanty has assumed charge as Managing Director and Chief Executive Officer of the NBFC.

Veteran Telugu actor Devadas Kanakala, who helped many budding actors hone their skills through his film institute, has passed away. He was 75.

The third edition of India’s largest education brainstorming event, the ScooNews Global Educators Fest (SGEF) will be held on August 09 and 10 in Udaipur- the City of Lakes. The theme for this year’s fest is ‘Education for Sustainability: Moving on from conformity to creativity’.

The Indian Space Research Organisation (ISRO) laid the foundation stone for the Space Situational Awareness Control Centre (SSAM) in Bengaluru.

External Affairs Minister S Jaishankar attended 10th Mekong-Ganga Cooperation (MGC) in Thailand’s Bangkok.

India’s opening batsman Rohit Sharma has become the batsman with the most number of sixes in the T20I format.

Vinesh Phogat has bagged her third consecutive gold in women’s 53kg category after winning the Poland Open wrestling tournament in Warsaw.

Satwiksairaj Rankireddy and Chirag Shetty have become the first Indian pair to win a BWF Super 500 badminton tournament in Bangkok, Thailand.

Mercedes’ Lewis Hamilton won his record-extending seventh Hungarian Grand Prix in the Hungaroring. Red Bull’s Max Verstappen finished second while Ferrari’s Sebastian Vettel was placed third.

Former New Zealand skipper Brendon McCullum has announced his retirement from all forms of cricket. McCullum had previously bid adieu to international cricket on February 24, 2016.

South African pacer Dale Steyn has announced his retirement from Test cricket with immediate effect.

Yesteryear cricket commentator Anant Setalvad has passes away.

Veteran Gujarati journalist, writer, columnist and editor Kanti Bhatt passed away in Mumbai. He was 88.

The Centre has approved a Kosi-Mechi river interlinking project in Bihar. Estimated cost of the project is Rs 4,900 crore.

The Rajasthan Assembly passed Bills against mob lynching and honour killing, which make the cognisable, non–bailable and non-compoundable offences with life imprisonment and a fine up to Rs 5 lakh. The bill to curb honour killing also has a provision of the death penalty for the convict.

The Super-Earth planet named GJ 357 d was discovered in early 2019 owing to NASA’s Transiting Exoplanet Survey Satellite (TESS), a mission designed to comb the heavens for exoplanets.

US retail giant Walmart is India’s top retailer, according to a study by Euromonitor International tracking Asia’s largest retailers.

Indian off-spinner Ravichandran Ashwin has been named as Professional Cricketers Association’s Player of the month of July 2019.

Dwayne Johnson, popularly known as ‘The Rock’, has officially announced his retirement from World Wrestling Entertainment (WWE).

Explanation: Nobel laureate Toni Morrison (American novelist), the renowned author of acclaimed novels such as “Beloved” and “Song of Solomon,” has passed away at the age of 88.

Explanation: Indian filmmaker and actor Hrithik Roshan’s grandfather, J Om Prakash, has passed away at the age of 93. The ace filmmaker and producer was known for films like ‘Aas Ka Panchhi,’ ‘Aaye Din Bahar Ke,’ ‘Ayee Milan Ki Bela,’ ‘Aankhon Aankhon Mein’ ‘Aya Sawan Jhoom Ke’ and ‘Aap Ki Kasam.’

Explanation: Former external affairs minister Sushma Swaraj breathed her last at the age of 67. Swaraj was appointed the foreign minister in the first term of Modi government in 2014. She opted out of the 2019 Lok Sabha elections citing health reasons.

Explanation: Uruguay forward player Diego Forlan has announced retirement from professional football.

Explanation: India topped the latest ICC Test team rankings while New Zealand is placed 2nd and South Africa is in 3rd position.

Explanation: The Reserve Bank of India (RBI) cut repo rate for the fourth consecutive time this calendar year to 5.4 per cent from the current 5.75 per cent amid low inflation, faltering economic growth and uncertain global scenario.

Explanation: The scientists at the University of Leeds (Leeds, England), have created the world’s thinnest gold (‘2D’ gold) measuring two atoms thick or million times thinner than a human fingernail.

Explanation: The fifth edition of “International Army Scout Masters Competition” was kicked off in Jaisalmer, Rajasthan. Jaisalmer military station is hosting the competition, which is happening as part of the international Army games.

Explanation: Seeking to promote women entrepreneurship in a big way, Kerala Startup Mission (KSUM) hosted a women startup summit, in association with the Indian women network floated by Confederation of Indian Industries (CII), at the integrated startup complex, Kochi.

Explanation: The Andhra Pradesh government will launch a scheme for restructuring of loans of Micro Small and Medium Enterprises Development (MSMEs) under the Dr YSR Navodayam scheme to support the stressed MSME sector.