Weekly CA Quiz: February 2018 3rd week with PDF

Explanation: In the wake of the Rs 11,300 crore fraud at the Punjab National Bank, the Reserve Bank of India has constituted a five member panel under former board member Y H Malegam to look into the wide divergence by banks in asset classification and provisioning and reasons for frauds and measures to prevent it and also asked them to strengthen the SWIFT (Society for Worldwide Interbank Financial Telecommunication) operating environment.

Explanation: Allocations for the Ministry of Planning, which is embodied by the NITI Aayog, have increased by more than 20% over last year i.e. to Rs 339.65 crore in 2018-19 from Rs 279.79 crore in 2017-18.

Explanation: The Union Government has issued order setting up the ‘Niti Forum for North-East’. The forum will be co-chaired by the Vice-Chairman of NITI Aayog Mr Rajiv Kumar and Minister of State (I/C), Ministry of Development of Northeastern Region (DoNER), Dr Jitendra Singh.

Explanation: According to a report by UNICEF, India ranks 12th among 52 low-middle income countries having highest infant mortality rates with over six lakh children dying within the first month of their birth in 2016.

Explanation: Kerala Government has made vaccination compulsory for school admissions from next academic year onwards. Parents will have to show details of shots given to children at the time of enrolment in schools. The move comes in the wake of stiff opposition from certain communities against the vaccination drive.

Explanation: The regulator National Housing Bank (NHB) has approved the merger of Capital First along with Capital Home Finance and Capital First Securities Limited with IDFC Bank.

Explanation: The Delhi government announced the launch of “Mission Buniyaad” for improving learning skills of children studying in state and municipal-run schools.

Explanation: The Centre has constitued a committee headed by the Vice Chairman of the NITI Aayog, Rajiv Kumar to study the Brahmaputra and flood control measures in Assam and neighbouring states .

Explanation: Two defence industrial corridors were announced in the Union Budget 2018-19. PM Narendra Modi announced that his government will establish a Rs 20,000-crore defence industrial production corridor in Bundelkhand — a region divided between Uttar Pradesh and Madhya Pradesh — that will generate 250,000 jobs and bring development to one of the most impoverished regions of the country.

Explanation: Actor Kamal Haasan launched his political party Makkal Needhi Maiam (people justice centre) in Madurai, Tamil Nadu. He also unfurled his party’s flag, which has six hands – three in red and three in white – joined together around a star on a white background.

Explanation: Babies born in Japan, Iceland and Singapore have the best chance of survival, while newborns in Pakistan, the Central African Republic and Afghanistan face the worst odds with Japan being ranked first and Pakistan being ranked last.

Explanation: The Ministry of Railways and the Maharashtra government signed a Memorandum of Understanding (MoU) to set up a rail coach factory at Latur, Maharashtra. The project aims to generate direct employment to thousands and manifold indirect employment opportunities in Marathwada, one of the most backward regions of the state.

Explanation: The Indian and Indonesian armies began the sixth edition of their annual military exercise named ‘Garuda Shakti’ in Bandung, Indonesia. The exercises will include experience sharing in counter-terrorism operations, close quarter combat, and other areas of special operations.

Explanation: Google announced the launch of a unified payment service app for its Google Pay platform. Google Pay will combine the features of the already existing Google Wallet and Android Pay. The app provides a simple interface where the user is allowed to store credit and debit card details, loyalty programs and other such linked payment services.

Explanation: Prime Minister Narendra Modi flagged off the Palace Queen Humsafar Express between Mysuru and Udaipur in Mysuru Railway Station. The train between Mysuru and Udaipur will act as a backbone of tourism, an employment generating industry.

Explanation: Social Equality Justice day is a day recognizing the need to promote efforts to tackle issues such as poverty, exclusion and unemployment and is observed every year on 20th February.

Explanation: The Cabinet Committee on Economic Affairs (CCEA) has given its approval to the construction of 4.531 km long 2-Lane Bi-Directional Silkyara Bend – Barkot Tunnel with escape passage including approaches on Dharasu -Yamunotri section between Chainage 25.400 Km. and Chainage 51.000 Km in Uttarakhand. The project will be falling along NH-134 (old NH-94) in the State of Uttarakhand.

Explanation: Renowned cardiologist Bal Krishna Goyal has passed away. He served as a friend and cardiologist to top Indian political dignitaries and celebrities. He was awarded India’s top three civilian awards – Padma Shri (1984), Padma Bhushan (1990), and Padma Vibhushan (2005).

Explanation: In view to increase awareness and remove taboo about menstrual hygiene, the Maharashtra government has decided to launch Asmita Yojana on the International Women’s Day (March 8). High costs of sanitary pads, unavailability in rural areas and awkwardness among women to purchase them from male chemists are the main reasons behind such low awareness.

Explanation: India and United Kingdom jointly launched research projects on ‘Water Quality Research’ and ‘Energy Demand Reduction in Built Environment’.

Explanation: According to the industry outlook by the National Association of Software & Services Companies (Nasscom), India’s IT exports are expected to grow at 7-9 per cent to be at $135-$137 billion in 2018-19. The IT exports during the current financial year are projected to be $126 billion, a growth of 7-8 per cent over previous year.

Explanation:The theme of World Day of Social Justice 2018 is “Workers on the Move: the Quest for Social Justice.”

Explanation: The Union Cabinet has given approval for creation of National Urban Housing Fund (NUHF) for Rs.60,000 crores. This fund will be situated in Building Materials and Technology Promotion Council (BMTPC), an autonomous body under the Ministry of Housing and Urban Affairs.

Explanation: The Pakistani Senate approved a motion to declare Mandarin as one of the official languages of Pakistan. The motion said the step was necessary in view of ties between Pakistan and China. Other official languages of Pakistan is Urdu and English.

Explanation: The Virgin Group signed an “intent agreement” with Maharashtra to build a hyperloop transportation system between Mumbai and Pune, which aims to reduce the travel time between the two mega cities to 20 minutes from the three hours at present.

Explanation: The Strategic Forces Command (SFC) test-fired Agni II medium-range nuclear-capable missile from Abdul Kalam Island off the Odisha coast. The missile has a strike range of more than 2,000 km. The launch comes one week after India test successfully fired indigenously developed surface-to-surface nuclear capable Agni-I (A) ballistic missile.

Explanation: Veteran comedian of Telugu cinema Gundu Hanumantha Rao has passed away after cardiac arrest. He was 61.

Explanation: World Congress on Information Technology began in Hyderabad, Telangana. Prime Minister Narendra Modi addressed the inaugural session of the three-day IT summit through a video link.

Explanation: E-commerce giant Amazon has launched its own food retailing business in India and the company started testing the market with a pilot project in Pune. With the new venture, Amazon has also become the first foreign e-commerce company to stock and sell food items directly to customers in India.

Explanation: Union Environment Minister Harsh Vardhan announced that India will host the World Environment Day 2018. Harsh Vardhan also launched the first electric charging facility at the Lodhi Road UN office — the first ever in a UN office in India.

Explanation: Fast bowler Bhuvneshwar Kumar has become the first Indian bowler to take a five-wicket haul in all three formats in international cricket. Bhuvneshwar achieved the feat by taking his first T20I five-wicket haul against South Africa.

Explanation: The theme for the World Environment Day-2018, held every year on June 5, is “Beat Plastic Pollution”.

Explanation: Renowned Telugu actor, Gundu Hanumantha Rao has passed away. Known for his iconic role in TV serial, ‘Amrutham’, the comedian has died of heart and kidney ailments.

Explanation: Roger Federer marked his impending return to the top of the world rankings by sweeping aside second seed Grigor Dimitrov in the Rotterdam Open final.

Explanation: Former President Pranab Mukherjee will be conferred an honorary D.Litt by the Indian Institute of Engineering Science and Technology (IIEST) on March 4 for his role as a public figure for many decades. Mukherjee was awarded an honorary D. Litt by Jadavpur University in December last year.

Explanation: India has dropped 16 spots to 78 from 62 among 140 countries in 11 years to 2015 on a globalisation index brought out by international logistics company DHL.

Explanation: Lok Sabha Speaker Sumitra Mahajan inaugurated the Commonwealth Parliamentary Association (CPA) conference in Patna, Bihar. The two-day conference will mainly deliberate on parliament’s role in the development agenda and legislature and judiciary – two important pillars of democracy.

Explanation: Cricket icon Sachin Tendulkar has been made the brand ambassador of the upcoming T20 Mumbai League. The league, scheduled from March 11 to 28 is to be organised by Sports India Pvt Ltd, a consortium of IIFL Group as Lead Member and Wizcraft, with the approval and sanction of the Mumbai Cricket Association (MCA) and under its aegis.

Explanation: After the success of her first book The Great Indian Diet, actress cum entrepreneur, and now an author, Shilpa Shetty has released her second book. It is called The Dairy Of Domestic Diva. The Dairy of Domestic Diva is a cookbook that contains recipes of various dishes along with the calorie intake details.

Explanation: Tata Consultancy Services (TCS) has been recognized as the world’s best employers by the Top Employer Institute for the consecutive third year. TCS was selected from a pool of 1,300 companies in 113 countries for offering exceptional services to its employees.

Explanation: India, which has been making strides in the space race, is set to land its Chandrayaan-2 on the Moon in April. It is India’s Chandrayaan-I which discovered the presence of water on the surface of the moon.

Explanation: Virat Kohli has become the fastest batsman to reach 17,000 international runs, achieving the feat in his 363rd innings during the sixth ODI against South Africa. Kohli surpassed South Africa’s Hashim Amla, who had reached the feat in 381 innings last year.

Explanation: President of Iran, Hassan Rouhani arrived in India on a three-day State visit. Rouhani chose to begin his three-day visit from Hyderabad as the city has a long history of cultural and religious ties with Iran.

Explanation: The Centre will set up 562 more Ekalavya Model Residential Schools in tribal areas of the country. 271 such schools have already been sanctioned out of which, 190 are currently operational. The government is committed to providing quality education to tribal children and it has been announced in the Budget that by the year 2022, every block with at least 20 thousand tribal persons, will have an Ekalavya School.

Explanation: The National Payments Corporation of India (NPCI) has given its consent to roll out WhatsApp BHIM UPI beta launch with limited user base of 1 million and low per transaction limit. WhatsApp’s payment service with full-fledged features will be launched after the beta test of the service in India.

Explanation: Prime Minister Narendra Modi inaugurated the World Sustainable Development Summit 2018 in New Delhi. The three-day event has been that has been organized by The Energy and Resources Institute (TERI).

Explanation: India’s biggest Global Conference on Pharma Industry and Medical Devices began in Bengaluru With the theme, ‘Driving NextGen Pharmaceuticals.

Explanation: Ruud Lubbers, who as the Netherlands’ longest serving prime minister led his country through economic turmoil to prosperity and helped shape the foundations of the European Union has passed away.

Explanation: India’s Umang App was named winner of the Best M-Government Service award in the Accessible Government category while Aadhar won the best emerging technology award at the recently concluded World Government Summit 2018 in Dubai, where India had the status of ‘Guest of Honour’ country.

Explanation: In a first in the country, the Maharashtra state government will be setting up an institute for artificial intelligence (AI) in Mumbai. AI institute will give a fresh impetus to the ‘fourth industrial revolution’, and promote Mumbai as an investment destination in innovations and data analysis.

Explanation: The National Bank for Agriculture and Rural Development (NABARD) announced area development plans worth Rs 1,918 crore for Punjab to supplement farmers’ income.

Explanation: Cyril Ramaphosa, head of the ruling African National Congress (ANC) has been sworn in as South Africa’s new President. He was elected as the new president of South Africa by the ruling party politicians after the resignation of Jacob Zuma.

Explanation: Former All-England champion and celebrated badminton coach Pullela Gopichand initiated the country’s largest ‘train the trainers’ programme, inducting 1500 Physical Education (PE) teachers from across Gujarat for advanced training.

Explanation: South Africa’s embattled President Jacob Zuma has resigned. He announced the decision in a televised address to the nation after the ruling African National Congress (ANC) party threatened to eject him from office via a parliamentary vote of no confidence.

Explanation: Ethiopian Prime Minister Hailemariam Desalegn has submitted a letter of resignation. He has been in power since 2012.

Explanation: The Hampi monuments which are part of Karnataka’s cultural heritage, will be one of the 10 tourist destinations across India to be developed as ‘Iconic Tourism Site’ by the central government.

Explanation: The India football team remained stagnant at the 102nd spot in the latest FIFA rankings.

Explanation: The Loan Agreement for financing of Rajasthan Water Sector Restructuring Project for the Desert Areas was signed between Government of India and the New Development Bank (NDB). This is the first tranche loan of USD 100 million approved by the NDB.

Explanation: After Nepal’s Prime Minister Sher Bahadur Deuba resigned from his post, Communist Party of Nepal (UML) Chairman KP Sharma Oli has become new Prime Minister of Nepal for the second time.

Explanation: Equitas Small Finance Bank, the first private sector bank from Tamil Nadu post-Independence, has launched ‘selfeSavings’, an interactive digital savings account.