Weekly CA Quiz: December 2017 2nd week with PDF

Explanation: A Public Procurement Portal ‘MSME Sambandh’ was launched by Shri Giriraj Singh, Minister of State (Independent Charge) for MSME in New Delhi. The objective of the portal is to monitor the implementation of the Public Procurement from MSEs by Central Public Sector Enterprises.

Explanation: Noted South Indian music director, Adithyan, has passed away following a kidney problem.

Explanation:The waste management system being implemented in Kerala’s coastal town of Alappuzha, often called “the Venice of East”, has been recognised by the United Nations Environment Programme (UNEP) as one of the five models across the world for fighting the pollution menace.

Explanation: India has been admitted as the 42nd member of the Wassenaar Arrangement, a global export control regime. This development will burnish India’s nonproliferation credentials and broaden its access to sensitive technologies.

Explanation:According to global financial services major Morgan Stanley, the Indian economy is expected to witness cyclical growth recovery, with real gross domestic product (GDP) growth likely to accelerate from 6.4% this year to 7.5% in 2018 and further to 7.7% in 2019.

Explanation: Visually impaired swimmer Kanchanmala Pande scripted history by becoming the first Indian to win gold at the World Para Swimming Championship, taking place in Mexico. Pande is currently working with Reserve Bank of India (RBI).

Explanation: According to the World Energy Access report released by the International Energy Agency (IEA), half a billion people have gained access to electricity in India since 2000, almost doubling the country’s electrification rate. This “remarkable” growth puts India on course to achieving access to electricity for all in the early 2020s, the report added.

Explanation: Senior Tamil journalist and humourist Ja Ra Sundaresan has passed away. He was 87.

Explanation: President Ram Nath Kovind inaugurated the Naval Maritime Aircraft Museum in Visakhapatnam, Andhra Pradesh featuring the maritime patrol aircraft Tupolev-142M, which served the Navy for almost three decades. The museum, at the famous RK Beach Road, will feature the reconnaissance and anti-submarine warfare aircraft, which was decommissioned in March this year.

Explanation: India has been declared free from infective Trachoma which is a contagious bacterial infection of the eye. It causes inflamed granulation on the inner surface of the lids. Releasing the National Trachoma Survey Report (2014-17) in New Delhi, Health Minister J P Nadda made an announcement in this regard and termed it as a momentous achievement.

Explanation: Haryana (with 69 per cent score) has topped the list in the ease of doing business rankings, according to government data. It is followed by Telangana (68.46) and Gujarat (67.74). Also, Jharkhand slipped to the 13th position from seventh last year.

Explanation: Minister of State for Culture (Independent Charge) Dr. Mahesh Sharma inaugurated the Bodhi Parva BIMSTEC Festival of Buddhist in New Delhi. India is hosing the Bodhi Parva: BIMSTEC Festival of Buddhist Heritage” from 8 to 10 December as part of celebrations of 20th anniversary of BIMSTEC.

Explanation: Asian Development Bank (ADB) has announced that it will fund highway upgradation project in Karnataka for which it has approved a loan of USD 346 million. The project will carry out a road safety survey to identify critical accident spots across the state highways and carry out measures to improve these.

Explanation: In a statement released by the Central Board of Direct Taxes (CBDT), the provisional figures of direct tax collections up to November this year show the net collections are 14.4 per cent higher than those for the corresponding period of last year.

Explanation: Sports Minister Rajyavardhan Singh Rathore has announced that India will host the Senior Women’s World Boxing Championships 2018

Explanation: India is all set to host its first-ever major boxing tournament for elite men and women–India Open International Boxing Tournament–from January 28 in New Delhi.

Explanation: Eminent Hindi writer Mamta Kalia will be honoured with literary award Vyas Samman for year 2017 for her novel “Dukkham Sukkham”. The writer will receive an amount of Rs 3.5 lakh as the prize money.

Explanation: International Anti-Corruption Day 2017 Theme: “United against corruption for development, peace and security”.

Explanation: Sports Minister Rajyavardhan Singh Rathore has announced that India will host the Senior Men’s World Championships in 2021.

Explanation: UN Women in collaboration with Facebook inaugurated a two day event in Mumbai titled ‘We The Women’ to empower and recognise the magnificent contribution of women in our society.

Explanation: Keeping with India’s initiative of connectivity with southeast Asia under its Act East Policy, New Delhi will host an Asean-India Connectivity Summit (AICS) on December 11-12 on the theme “Powering Digital and Physical Linkages for Asia in the 21st Century”.

Explanation: Taking the fight to the arena used by fraudsters promising prize money from the RBI, the central bank has itself launched an SMS campaign and a ‘missed-call’ helpline to warn people against such scams. The central bank has asked people to give a missed call to a phone number (8691960000) which is returned with another call that provides more information on steps to be taken in such cases.

Explanation:Veteran journalist Sukharanjan Sengupta has passed away due to old age-related health problems. He was 85.

Explanation: Uma Shankar, chief general manager (CGM) in charge of the Reserve Bank of India’s financial inclusion and development department has taken over as executive director (ED) in the central bank.

Explanation: With the motto to improve labour room quality, the government has launched LaQshya, a safe delivery mobile application for health workers who manage normal and complicated deliveries in peripheral areas.

Explanation: In a bid to give users timely updates from verified users such as celebrities and organisations directly from the source, Google announced the launch of “Posts” feature in India.

Explanation:Eminent scientist and ‘Father of DNA finger printing in India’, Lalji Singh has passed away after suffering a massive heart attack.

Explanation: Electronics and Information Technology Minister Ravi Shankar Prasad launched first NIC-CERT, a setup of National Informatics Centre to prevent and predict cyber attacks on government utilities.

Explanation: British authorities have named Mount Hope as the country’s new highest peak. Hope, which is sited in the part of the Antarctic claimed by the UK, was recently re-measured and found to tower above the previous title holder, Mount Jackson.

Explanation: Shubhankar Sharma of India won the Joburg Open golf tournament in sensational style to qualify for next year’s edition of the British Open.

Explanation: Australia retained their Hockey World League Final title with a 2-1 victory over Olympic champions Argentina. The tournament was held at the Kalinga Stadium, Bhubaneswar, Odisha.

Explanation: China started trial operations of the world’s biggest automated container terminal – the Shanghai Yangshan Deep Water Port – in the country’s commercial hub. The port will help consolidate Shanghai port’s standing as the world’s busiest container port and further support Shanghai’s efforts to become a world shipping centre.

Explanation: External Affairs Minister Sushma Swaraj held the 15th Russia-India-China (RIC) trilateral meet with Russian Foreign Minister Sergey Lavrov and Chinese Foreign Minister Wang Yi in New Delhi.

Explanation: India’s first Electronic Manufacturing Cluster (EMC) will be coming to Andhra Pradesh. The Government of India, through the Ministry of Electronics and Information Technology (MeiTY), had announced in 2012 about setting up an EMC in India, with grant-in-aid for establishing such clusters.

Explanation:Global investment bank Nomura has predicted India’s economy to register a 7.5 per cent growth rate in 2018, saying it is on the cusp of a cyclical recovery.

Explanation: Priyanka Chopra, who has taken up the cause of fighting for the rights of refugees and displaced people as a Unicef Goodwill Ambassador, has been feted with the Mother Teresa Memorial Award for Social Justice.

Explanation: After rising up in the Ease of Doing Business Index, India has upgraded its ranks in ‘The Legatum Prosperity Index 2017’, an annual ranking developed by the London-based Legatum Institute. The index, which offers an insight into how prosperity is forming and changing across the world, ranks India 100th on the list of prosperous countries among 149 countries.

Explanation: According to UN’s ‘World Economic Situation and Prospects 2018’ report, Indian economy is likely to grow by 7.2% in 2018 and go up further to 7.4% in the following year on the back of strong private consumption, public investment and the ongoing structural reforms.

Explanation: The Second UNWTO/UNESCO World Conference on Tourism and Culture: Fostering Sustainable Development, hosted by the government of the Sultanate of Oman, was held in Muscat, Sultanate of Oman on 11-12 December 2017 within the framework of International Year of Sustainable Tourism for Development.

Explanation: Norway heads the ranking of The Legatum Prosperity Index 2017 followed by New Zealand, Finland, Switzerland and Sweden

Explanation: Apple announced that it has acquired song recognition company Shazam. The deal is worth $400 million.

Explanation:Khelo India, a programme strives to promote “Sports for All” as well as “Sports for Excellence,will be launched at a cost of Rs.1,756 crore, Union Minister of State for Youth Affairs and Sports Col. Rajyavardhan Singh Rathore announced.

Explanation: The Asian Development Bank (ADB) lowered its Indian GDP forecast for the current financial year to 6.7 per cent citing tepid growth in the first half, demonetisation and transitory challenges posed by implementation of GST. It also revised its Indian Gross Domestic Product outlook for the 2018-19 fiscal down to 7.3 per cent, from 7.4 per cent.

Explanation: Rohit Sharma became the first-ever player in ODI history to hit three double hundreds, slamming his third in the Mohali ODI against Sri Lanka.

Explanation: At least 10 leaders of the Association of Southeast Asian Nations (ASEAN) will be taking part in the 2018 Republic Day celebrations as chief guests. Prime Minister Narendra Modi had invited the ASEAN leaders to be the chief guests earlier this year.

Explanation: The Asian Development Bank said that the economies of developing countries of Asia are expected to record a 6% growth in 2017, a decimal higher than the September-forecast.  It kept the 2018 GDP growth forecast at 5.8 per cent.

Explanation: Renowned journalist and Bengali author Rabisankar Bal has passed away following a brief illness.

The logo of Allahabad Kumbh Mela 2019 comprises of temples, seers, a kalash & a Swastika. The tagline for Kumbh Mela 2019 is Chalo Chalo Chalo, Kumbh Chalo.” Traditionally, the fairs at the following four sites are recognized as Kumbh Melas: Prayag (Allahabad), Haridwar, Trimbak-Nashik and Ujjain.

Explanation: At the top of men’s hockey, Australia knocked out Argentina for the first time since the Rio 2016 Olympics. Belgium, Netherlands and Germany remain unchanged at third, fourth and fifth respectively.

Explanation: OBOPAY, the global mobile payment solutions company, recently announced that the company has secured alicense for Prepaid Payment Instrument (PPI) from the Reserve Bank of India to operate a semi-closed loop wallet in the country.

Explanation: India’s men and women’s hockey teams remained in the 6th and 10th positions respectively in the rankings revealed by the International Hockey Federation (FIH).

Explanation: India signed a Financing Agreement for IBRD loan of USD 250 million (equivalent) for the “Skills Acquisition and Knowledge Awareness for Livelihood Promotion (SANKALP) Project” with the World Bank.

Explanation: Senior Congress leader and former president of Delhi Pradesh Congress Committee (DPCC) Chaudhary Prem Singh has passed away.

Explanation: Prime Minister Narendra Modi commissioned India’s first indigenous Scorpene-class submarine Kalvari into the Navy at Mumbai’s Naval Dockyard. The 1,565-tonne INS Kalvari is India’s first new diesel-electric submarine in 17 years and will be followed by five other Scorpene submarines under the ₹23,000-crore “Project-75”. Named after the first Foxtort-class submarine, INS Kalvari was inducted into the Navy on December 8, 1967.

Explanation: Jitesh Singh Deo from Lucknow was declared the winner of the 2017 Mr India pageant. Indian footballer Prathamesh Maulingkar won the title of Mr India Supranational and will compete at Mr Supranational 2018. Abhi Khajuria was declared the first-runner up while Pavan Rao was the second runner-up. Actress Kangana Ranaut felicitated the winners.

Explanation: Actor-director Neeraj Vora, who starred in films like ‘Baadshah’ and ‘Hello Brother’, passed after battling coma for a year.

Explanation: The Holkar Stadium in Indore is all set to host the final of the Ranji Trophy of the 2017-18 season. The final will be played between December 29 and January 2.

Explanation: Fino Payments Bank has signed up Rajasthan government’s Rajcomp as its corporate business correspondent to give banking services to people in the state.

Explanation: The Telangana government has announced to launch a mobile application ‘Urban Genie’ which will enable citizens in urban areas across the state to find certified technicians and workers.

Explanation:World youth champion Sachin Siwach has been named the Asian Boxing Confederation’s best youth boxer of the year after winning an online poll conducted by the continental body.

Explanation: The Asian Infrastructure Investment Bank (AIIB) has approved a USD 335 million loan to finance a 100-per cent electric metro rail project in Bangalore.

Explanation: The Supreme Court agreed with the Centre’s submissions and set the deadline of linking of Aadhaar card with bank accounts, mobile numbers and various other schemes as March 31, 2018. Earlier the deadline for linking with mobile was February 6, 2018.

Explanation: Mumbai Metro One launched the first mobile security product, “SecuCare” app to make commuters more secure. With the help of this app, a commuter can click pictures or make videos which will get directly transmitted to the Central Security Control Room of the Metro Corporate Centre in DN Nagar, along with the commuter’s train and exact physical location.

Explanation: The Union Cabinet chaired by Prime Minister Narendra Modi approved the establishment of an International Training Centre for Operational Oceanography in Hyderabad by Unesco. The establishment of Unesco Category-2 centre will provide an opportunity for India to emerge as a leading country in the Indian Ocean.

Explanation: NASA has announced the discovery of an eight planet orbiting Kepler-90, a star comparable to the Sun located 2,545 light-years from the Earth. With eight planets, the Kepler-90 system equals our own system in terms of the number of planets orbiting a single star. Astronomers have yet to detect a system with more than eight planets.

Explanation: The Eleventh World Trade Organization (WTO) Ministerial Conference (MC11) was held in Buenos Aires, Argentina. Commerce and Industry Minister Suresh Prabhu had led the Indian delegation in the conference.

Explanation: To encourage widespread usage of digital payments, the government has decided that no Merchant Discount Rate (MDR) charges will be levied on debit card transactions of up to Rs 2,000. Merchant Discount Rate (MDR) applicable on all debit card/BHIM UPI/ AePS transactions up to and including a value of Rs 2000 will be be borne by government for 2 years with effect from 1 January, 2018 by reimbursing same to the banks.

Explanation: The third World Telugu Conference began in Hyderabad, Telangana. The aim of the Conference is to promote Telugu and its literature besides helping the present generation learn more about Telugu language and its rich culture and heritage.

Explanation: International Hockey Federation (FIH) chief Narinder Batra was elected the president of Indian Olympic Association (IOA) in an Annual General Body Meeting. He will succeed N Ramachandran.