Weekly CA Quiz: February 2018 4th week with PDF

Explanation: The Union Cabinet approved setting up of a ₹60,000-crore National Urban Housing Fund (NUHF) to facilitate the implementation of the Pradhan Mantri Awas Yojana (Urban) Mission and to ensure that every poor living in the urban areas has a home by 2022.

Explanation: Noted violinist M.S. Anantharaman, an exponent of Parur style of violin playing has passed away.

Explanation: The Government of India and Asian Development Bank (ADB) signed a $84 million loan for improvement and expansion of water supply in Bhagalpur and Gaya towns in Bihar. The tranche 2 loan is part of the $200 million multi-tranche financing facility (MFF) for the Bihar Urban Development Investment Program that was approved by ADB in 2012.

Explanation: India successfully test-fired the nuclear-capable ‘Dhanush’ ballistic missile with a strike range of 350 kms from a naval ship off Odisha coast. The surface-to-surface missile, a naval variant of the indigenously-developed ‘Prithvi’ missile, was test-fired from the ship positioned near Paradip in the Bay of Bengal. ‘Dhanush’ missile is capable of carrying a payload of 500 kg and hitting both land and sea-based targets.

Explanation: UP has become the first state in the country where projects can now be cleared digitally, without any human interface. The digital platform, a single-window system called Nivesh Mitra, was launched by Prime Minister Narendra Modi during the inauguration session of the UP Investors’ Summit. Nivesh Mitra will now allow investors to apply for project clearances online.

Explanation: Kunwar Bai, a 106-year-old woman from Chhattisgarh who was chosen as a mascot for the ‘Swachh Bharat Abhiyan’, has passed away. Kunwar Bai shot to fame in 2016 when the story of how she sold her goats to build a toilet at home got nationwide publicity.

Explanation: India has been ranked 81st in the global corruption perception index for 2017, released by Transparency International, which named the country among the “worst offenders” in terms of graft and press freedom in the Asia Pacific region.

Explanation: Senior Congress leader and former Indore Mayor, Suresh Seth has passed away. Seth, known for his charismatic and robust personality, was also called as a ‘Lion of Indore’ – he aggressively took up people’s issues and cut across party lines to deliver benefit to the common man.

Explanation: Gandhi Nagar of Jaipur, Rajasthan became country’s first all-women railway station in the main line category of the Indian railways. Gandhi Nagar railway station has a footfall of nearly 7000 passengers per day and of the 50 trains which pass by, 25 trains halt.

Explanation: Indian Air Force officer Avani Chaturvedi has become the country’s first woman to fly a fighter jet solo, as she operated Russian-made MiG-21 aircraft in her first training sortie. She is one of the three from the first women-batch inducted into IAF fighter stream in 2016.

Explanation: Retirement fund body Employees’ Provident Fund Organisation (EPFO) has reduced the interest rate on deposits to 8.55% for 2017-18 from 8.65% for 2016-17 following a general decline in interest rates. The move will affect around 6 crore subscribers and leave EPFO with a surplus of Rs 586 crore against Rs 695 crore in the previous financial year.

Explanation: At the UP Investors Summit, the government launched a mobile application – e-Saathi. Through the app, people will be able to avail public services sitting at home. The state government was working to double the capacity of seats in skill development from 500 to 1,000.

Explanation: According to a report, nearly 40 per cent of over 53,000 cyber attacks in India occurred in the financial services sector during 2017, placing it at the 7th spot in the list of targeted countries for Web Application Attacks (WAA)

Explanation: India successfully test-fired nuclear-capable medium range surface to surface missile Prithvi-II off the Odisha coast. Prithvi-II, which has a strike range of 350 km, is capable of carrying 500-1,000 kg of warheads and is thrusted by liquid propulsion twin engines.

Explanation: Private sector lender Federal Bank made its foray into investment banking by acquiring a minority 26 per cent stake in Equirus Capital, a boutique investment bank. It would widen the product offerings to a spectrum of wholesale clients by offering comprehensive financial solutions.

Explanation: Veteran author and civic rights activist K Panoor has passed away owing to age related illness. An author of many articles and books, which also included ‘Ha Naxalbari’ and ‘Keralathile America’, he was honoured by Kerala Sahithya Akademi in 2006, considering his comprehensive contribution to literature.

International Mother Language Day (IMLD) is a worldwide annual observance held on 21 February to promote awareness of linguistic and cultural diversity and promote multilingualism.. The theme of International Mother Language Day 2018 is “Our languages, our assets.”

Explanation: The offices of the NBFC Ombudsmen will function at four metro centres, namely, Chennai, Kolkata, Mumbai and New Delhi, and will handle complaints of customers in the respective zones.

Explanation: Ministry of New and Renewable Energy (MNRE) Secretary Anand Kumar announced that Prime Minister Narendra Modi and France President Édouard Philippe will jointly hold an International Solar Alliance (ISA) Summit at the President house in New Delhi on March 11.

Explanation: As announced in its Monetary Policy Statement on February 7, India’s central bank, Reserve Bank of India (RBI), has now launched the Ombudsman Scheme for Non-Banking Financial Companies (NBFCs). The scheme shall come into effect and force from February 23, 2018.

Explanation: Senior journalist Rahul Mahajan was appointed Editor-in-Chief of Rajya Sabha TV, owned and operated by the Upper House of Parliament.

Explanation: The Assam government has announced to observe September 22 as ‘Rhino Day’ to generate public awareness on protection of the one-horned pachyderm.

Explanation: Unique Identification Authority of India (UIDAI) has now introduced a blue coloured ‘Baal Aadhaar’ card for children below the age of 5 years. To recall all children below the age of 5 don’t need to give biometric details for getting an Aadhaar card.

Explanation: Senior journalist and editor-in-chief of National Herald, Neelabh Mishra, has passed away. He was critically ill and with complications resulting from non-alcoholic liver cirrhosis.

Explanation: Chhattisgarh Chief Minister Raman Singh announced that the state government is aiming to provide power supply to every household by September 2018.

Explanation: The eighth joint military exercise between the Indian Army and Seychelles People’s Defence Forces began from February 24 in Seychelles. Indo-Seychelles counter insurgency/counter terrorism exercise is named ‘Lamitye’, which means friendship.

Explanation: The Reserve Bank of India (RBI) has directed banks to link the SWIFT (Society for World Interbank Financial Telecommunication System platform) — a global financial messaging service which was miused by jeweller Nirav Modi at Punjab National bank — with the core banking solutions (CBS) of banks by April 30, 2018

Explanation: India’s premier defence research institute Defence Research and Development Organisation (DRDO) carried out “successful” test flight of its Rustom 2 drone, a medium-altitude long-endurance unmanned aerial vehicle (UAV), at Chalakere in Karnataka’s Chitradurga district.

Explanation: Aruna Budda Reddy became the first Indian gymnast to clinch an individual medal at the Gymnastics World Cup in Melbourne by securing bronze in the women’s vault.

Explanation: The seventh meeting of the Eminent Persons Group (EPG) on Nepal-India relations began in Kathmandu, Nepal. The two-day meeting will mainly focus on the 1950 treaty, border issues, and trade and transit, according to a member of the group.

Explanation: Veteran Bollywood actress Sridevi, who had an illustrious career spanning over four decades, has passed away in Dubai. She was 54. In 2013, the Government of India awarded Sridevi the Padma Shri, the country’s fourth highest civilian accolade for her contributions to the entertainment industry.

Explanation: Reigning Commonwealth Games champion Parupalli Kashyap overcame Malaysia’s June Wei Cheam in straight games in the men’s singles final to clinch the Austrian Open International Challenge (Badminton), his first international title in over three years.

Explanation: The National Anti Doping Agency (NADA), for the first time in Indian sport, has banned an athlete for the possession of an illegal drug. The disciplinary committee handed over a suspension of four years to hurdler Jithin Paul.

Explanation: Michael McCormack has been elected Australia’s new deputy prime minister after being selected as the leader of the country’s National Party. He replaces Barnaby Joyce who was forced to resign last week amid public anger over an extramarital affair.

Explanation: Indian boxer Vikas Krishan won a gold medal and was named the best boxer of the tournament at the 69th Strandja Memorial boxing tournament in Bulgaria. Amit Panghal (49kg) also won a gold medal at the tournament. The Indian contingent at the tournament ended with overall 11 medals, including a silver medal for five-time world champion Mary Kom.

Explanation: The Indian Space Research Organisation (ISRO) has started working towards developing ‘igloos’ on Moon, called the lunar habitats, for safe keeping of astronauts. The habitats will be built by sending robots and 3D printers to the Moon and using lunar soil.

Explanation: TSR Subramanian, former Cabinet Secretary of the Union government has passed away due to prolonged illness.

Explanation: In a move to provide Delhi residents relief from the burgeoning air pollution crisis in the city, the central government has sanctioned schemes worth Rs 1,200 crore to keep a check on alarming pollution levels in the capital.

Explanation: Manganlal Shah, Bharatiya Janata Party (BJP) MLA from Tharali, has passed away.

Explanation: Union Finance Minister Arun Jaitley said that the agriculture credit flow target of Rs. 11 lakh crore for 2018-19 is achievable by the banking sector. Jaitley said that this target would contribute to the momentum towards doubling the farmers’ income by 2022.

Explanation: China has become the vice chair of the Financial Action Task Force (FATF), a global body mandated to combat terror financing.

Explanation: At 19 years of age, highly-rated Afghanistan leg-spinner Rashid Khan is set to become the youngest captain in the history of international cricket. The World’s No.1 ODI and Twenty20 International bowler, Rashid will lead Afghanistan.

Explanation: Bihar clocked a growth rate of 10.3 per cent in 2016-2017 as against 7.5 per cent in the corresponding fiscal a year ago, riding largely on the back of the services sector, according to the latest Economic Survey tabled in the Bihar Assembly. Bihar’s growth rate is higher than that of the national average of 7.0 per cent.

Explanation: The Airports Authority of India (AAI) launched the first of its kind Aviation Multi Skill Development Centre at Old Civil Air Terminal in Chandigarh. Civil Aviation Minister P. Ashok Gajapathi Raju inaugurated the ceremony.

Explanation: Eminent Odia writer Kanakalata Mohanty passed away. Mohanty is the author of 12 novels and more than a 100 short stories. Her novels Ete Andhara, Kete Jwala and Anuradha shot her into the limelight in the 1960s.

Explanation: India has been ranked 47th out of 86 countries on the Inclusive Internet Index by the Economist Intelligence Unit (EIU), which was commissioned by Facebook.

Explanation: The Reserve Bank said there would not be any extension to the February 28 deadline for mandatory KYC-compliance by prepaid wallet customers.

Explanation: King of Jordan Abdullah II bin Al-Hussein arrived in India for a three-day visit. Defence, security and investments are going to be the key areas of discussion on the bilateral agenda.

Explanation: In a bid to redevelop over 600 major railway stations across the nation, an idea competition ‘SRIJAN’ (Station Rejuvenation through Joint Action) has been launched at MyGov portal since January 26, 2018, by Indian Railway Stations Development Corporation Limited (IRSDC).

Explanation: Sweden took the first place, followed by Singapore and the US.

Explanation: Google announced a deeper integration with the State Bank of India (SBI) for its digital payment app “Tez” that will allow users to now create a SBI UPI Id — @oksbi and get access to exclusive offers for the SBI customers.

The Union Cabinet has approved the Department of Commerce’s proposal to give focused attention to 12 ‘Champion’ Services Sectors for promoting their development in order to realise their potential. A dedicated fund of Rs 5000 crore has been proposed in order to support initiatives for sectoral action plans of the Champion Sectors

Explanation: The moon will get its first mobile phone network next year, enabling high-definition streaming from the lunar landscape back to earth, part of a project to back the first privately funded moon mission.

Explanation: Health minister JP Nadda launched free Viral Load Tests, which measure the quantity of virus in the body. The move is likely to benefit 12 lakh people living with HIV/AIDS (PLHIV) in the country.

Explanation: Moody’s Investors Service said the Indian economy is starting to recover from the negative impact of demonetisation and disruption caused by the GST roll-out, but kept GDP growth estimates unchanged at 7.6 per cent for 2018.

Explanation: The Haryana government gave its nod to a proposal to bring in a legislation that would have a provision awarding death penalty to those guilty of raping girls aged 12 years or less.

Explanation: Beijing-based Asian Infrastructure Investment Bank (AIIB) has approved $1.5 billion in loans to India for infrastructure-related projects in 2018.

Explanation: The Chilika lake in Odisha has emerged as the single largest habitat of Irrawaddy dolphins in the world with the spotting of 155 such animals, according to the Chilika Development Authority (CDA).

Explanation: Karnataka defeated Saurashtra by 41 runs in the Vijay Hazare Trophy final to win the tournament for the third time. Batting first, Karnataka put up a total of 253/10 driven by Mayank Agarwal’s 90(79), before Saurashtra were bowled out for 212 in 46.3 overs

Explanation: India and Nepal would hold a joint exercise, “Surya Kiran” in Pithoragarh region of Uttarakhand

Explanation: Kanchi Shankaracharya Jayendra Saraswati, 69th pontiff of the Kanchi Mutt (Kanchipuram, Tamil Nadu) has passed away after a prolonged illness at Kancheepuram. He was 82.

Explanation: The Anti-Tank Guided Missile (ATGM) Nag was successfully flight-tested in desert conditions against two tank targets at different ranges and timings, informed the Defence Ministry. The developmental trials of the missile have been completed, and now it is now ready for induction in the Army.

Explanation: Retirement fund body Employees Provident Fund Organisation (EPFO) has made it mandatory to file online claims for provident fund withdrawals above Rs 10 lakh, taking another step towards becoming a paperless organisation. It has also made it mandatory to file online claims for withdrawals of above Rs 5 lakh under the Employees Pension Scheme 1995.

Explanation: Former Supreme Court Judge Justice S. Ratnavel Pandian has passed away. He was a Judge of the Supreme Court of India from 14th December, 1988 to 12th March 1994.

Explanation: The theme of NSD-2018 is “Science and Technology for a Sustainable Future”, which has been chosen for the purpose of raising public appreciation of the scientific issues involved.