Weekly CA Quiz: January 2019 2nd week with PDF

Explanation: The Jammu and Kashmir administration set up a law commission, with Justice MK Hanjura as its founding chairperson, to identity redundant and obsolete laws that can be repealed and suggest measures for quick redress of public grievances.

Explanation: In a first, the 2-day long Global Aviation Summit 2019 with the theme “Flying for all” was organized by the Ministry of Civil Aviation (MoCA) in collaboration with FICCI from January 15-16, 2019 in Mumbai, Maharashtra.

Explanation: Gruh Finance Ltd is set to merge with Bandhan Bank Ltd. in a share-swap deal. The merger will help reduce the stake of Kolkata-based bank’s promoter entities, while giving HDFC—the largest shareholder in Gruh Finance—a 14.96 percent stake in the combined firm.

Explanation: Releasing the first advance estimates of National Income for 2018-19, Central Statistics Office (CSO) stated that the growth in GDP during 2018-19 is estimated at 7.2% as compared to the growth rate of 6.7% in 2017-18, mainly due to improvement in the performance of agriculture and manufacturing sectors.

Explanation: The income earned by an average Indian doubled in 7 years, from Rs 63,642 per year in 2011-12 to Rs 1.25 lakh in 2018-19, the first advance estimates of national income released by the Central Statistics Office (CSO) show.

Explanation: Mysore-born Gita Gopinath has joined IMF as its chief economist becoming the first woman to occupy the top IMF post.

Explanation: World Bank President Jim Yong Kim unexpectedly resigned, more than three years before his term ends in 2022, amid differences with the Trump administration over climate change and the need for more development resources.

Explanation: Veteran journalist Dinu Randive has been conferred with the lifetime achievement award by the Mantralaya and Vidhimandal Vartahar Sangh, an association of journalists covering Maharashtra legislature and secretariat.

Explanation: A five-Judge Constitution bench of the Supreme Court headed by CJI Ranjan Gogoi has been constituted to hear the title suit in the Ram Janmabhoomi-Babri Masjid Ayodhya case.

Explanation: Chief Minister Pema Khandu inaugurated India’s longest 300 m single lane steel cable suspension bridge over Siang river in Arunachal Pradesh’s Upper Siang district bordering China.

Explanation: Chief Minister Edappadi K. Palaniswami announced the creation of a new district by bifurcating Villupuram district.Kallakurichi will be the headquarters of the new district and its creation has increased the number of districts in TamilNadu to 33.

Explanation: According to the Henley Passport Index,, Japan, for the second time in a row, has topped a global index for the world’s most powerful passport in 2019, while India ranked at the 79th position.

Explanation: Guatemala has said it is withdrawing from a UN-backed anti-corruption commission. President Jimmy Morales accused the International Commission Against Impunity in Guatemala, commonly known as CICIG, of polarising the country and putting its security at risk.

Explanation: Iran will be opening a branch of its private bank named Pasargad in Mumbai in three months. The Government of India has already given permission to Iran to open a bank branch in Mumbai.

Explanation: Infosys co-founder and Aadhaar architect Nandan Nilekani will head a high level committee assessing digitization of payments.

Explanation: Market regulator SEBI has constituted a “Research Advisory” committee which will assist in formulating policy to undertake research relevant for development and regulation of capital markets.It will be headed by Sankar De.

Explanation: India’s growth rate is expected to accelerate to 7.3% during the current financial year ending March 2019, according to the World Bank’s Global Economic Prospects Report.

Explanation: Global economic growth is projected to slow to 2.9 per cent in 2019 from a downwardly revised 3 per cent in 2018 amid rising downside risks, the World Bank has said in its Global Economic Prospects report.

Explanation: More than 33 crore accounts were opened under the PMJDY till last December and over 80 per cent of these are active accounts, the Rajya Sabha was informed. Out of these accounts, 28.16 crore PMJDY accounts are operative accounts.

Explanation: Future of Consumption in fast Growth Consumer Market-India report by world Economic Forum said that India is set to become the world’s third largest consumer market behind only USA and China by 2030.

Explanation: The International Cricket Council (ICC) welcomed USA Cricket as its 105th member. As a Member of the ICC, USA Cricket is now eligible to receive funding in accordance with the ICC Development Funding Policy and can sanction domestic and international cricket in the United States.

Explanation: A visionary in the field of Solar Energy and the chairman of National Solar Energy Federation, Shri Pranav R Mehta,has taken over as the president of Global Solar Council,from January 1, 2019. The GSC has its headquarters in Washington D.C., USA.

Explanation: More than five years after Malayalam was declared a classical language, the Union Government issued its nod for setting up the Centre for Classical Language at the Thunchath Ezhuthachan Malayalam University in Tirur.

Explanation: The first National Consultation on Child Protection for 2019 was held at India Habitat Centre, New Delhi under the Chairmanship of the Secretary, Ministry of Women and Child Development.

Explanation: Sri Lanka’s Central Bank (Central Bank of Sri Lanka) announced that the Reserve Bank of India (RBI) has agreed to provide USD 400 million under a swap arrangement to boost the island nation’s reserves.

Explanation: MC Mary Kom has attained number one position in the International Boxing Association’s (AIBA) latest world rankings. She became the most successful boxer in world championships’ history when she claimed the 48kg category top honours in Delhi in November last year.

Explanation: Hockey India removed Harendra Singh as the coach of the Indian men’s hockey team following their disappointing run in the recently-concluded Hockey World Cup.

Explanation: South African all rounder Albie Morkel announced retirement from all form of cricket. Albie Morkel played a total of 58 one day matches for South Africa scoring 782 runs with an average of 23.7 and scalping 50 wickets with an economy rate of 5.5.

Explanation: Industrialist and Godrej Group Chairman Adi Godrej was conferred the ICSIs Lifetime Achievement Award for “Translating Excellence in Corporate Governance into Reality”.

Explanation: Nobel Peace Prize winner and Pakistani activist Malala Yousafzai pens a new book, titled “we are displaced:My Journey and Stories from Refugee girls around the world‘ charting her experiences traveling the world and visiting refugee camps.

Explanation: A day after the removal of Alok Verma, Additional Director M Nageshwar Rao again took charge of the office of the CBI Director.

Explanation: Nicolas Maduro was once again sworn in as Venezuela’s President for a second term, from 2019 to 2025. The swearing-in ceremony took place inside the Supreme Court of Venezuela under Article 231 of the Venezuelan Constitution.

Explanation: Budding golfer Kartik Singh has acquired the top position in the under-8 category at the Kids Golf World Championship organised by US kids Golf in Malaysia.

Explanation: Union Minister of Environment, Forest and Climate Change Dr Harsh Vardhan launched the National Clean Air Programme aiming to reduce toxic particulate matter by 2024,taking 2017 as the base year.

Explanation: Indian and global leaders on economic policy shall deliberate for two days at the 25th Partnership Summit 2019, which will be inaugurated by Vice President M.Venkaiah naidu.

Explanation: The National Stock Exchange (NSE) Chairman Ashok Chawla stepped down from his position. Chawla, who has been the chairman of NSE since 2016, stepped down “in light of recent legal developments.”

Explanation: According to World Bank’s Global economic Prospects report, fuelled by policy reforms and rebound in credit, India’s economy is forecast to expand by 7.5 per cent during the 2019-20 fiscal year and retain its position as the fastest growing major economy in a world of slowing growth.

Explanation: India has slipped to 42nd place on an annual Global Democracy Index amid “rise of conservative religious ideologies” and increase in vigilantism and violence against minorities as well as other dissenting voices.Norway topped the list.

Explanation: The Indian Space Research Organisation (Isro) is setting up a “Human Space Flight Centre” in Bengaluru, which will support its quest of making country’s maiden manned space mission a success.

Explanation: Odisha Chief Minister Naveen Patnaik launched the “Ama Ghare LED” Scheme, under which about 95 lakh families in the state will each get four LED bulbs free of cost.

Explanation: Sikkim Chief Minister Pawan Kumar Chamling launched the “one family,one job” that envisions jobs to a member of every family which does not have a government job in the state.

Explanation: The much sought after Organics and Millets 2019 International Trade Fair, organized by the Government of Karnataka’s Department of Agriculture, will be held from 18th to 20th January 2019 in Bengaluru’s Palace Grounds.

Explanation: The GST Council relaxed the tax exemption limit to Rs 40 lakh from the earlier cap of Rs 20 lakhs during its 32nd meeting. The all-powerful panel also decided to extend the composition scheme to traders from informal sector rendering services or mixed supplies with a turnover up to Rs 50 lakh.

Explanation: Senior Indian Information Service officer Nitin Wakankar will be the new Chief Information Officer and spokesperson of the CBI, replacing Abhishek Dayal who has been transferred to the Publications Division.

Explanation: Senior bureaucrat Jaideep Govind has been appointed as Secretary General, National Human Rights Commission.

Explanation: Prime Minister Narendra Modi has released a commemorative coin of Rs 350 to mark the birth anniversary of Guru Gobind Singh, the ten preachers of the Sikh religion.

Explanation: Team India’s Right-hand opener Rohit Sharma becomes the first Indian batsman to smash 5 hundreds in ODI cricket in Australia. Rohit, achieved this milestone while playing first ODI of the series against Australia in Sydney.

Explanation: Former Indian footballer Mohd Zulfiqaruddin, who was part of the fourth place finishing team in the 1956 Olympics in Melbourne, passed away in Hyderabad.

Explanation: Former Ranji Trophy cricketer of Goa,Rajesh Ghodge passed away during a local tournament at the Rajendra Prasad Stadium in Goa. The 47-year-old, who was playing non-striker, suffered a massive heart attack.

Explanation: Prime Minister Narendra Modi, received the first ever Philip Kotler Presidential Award. The Award focuses on the triple-bottom-line of People, Profit and Planet. As per the award citation, Mr Modi has been selected for his outstanding leadership for the nation.

Explanation: Writer Namita Gokhale has won the Sushila Devi Literature Award for her novel “Things to leave behind”.

Explanation: Bengaluru Raptors have won their first ever Premier Badminton League Title. In the title clash played at Bengaluru, Bengaluru edged out Mumbai Rockets, with a 4-3 win.

Explanation: At the Khelo India Youth Games in Pune, 10 year old Abhinav Shaw became the youngest gold medallist in shooting. He teamed up with Mehuli Ghosh to help West Bengal win the 10m air rifle mixed team event.

Explanation: Maharashtra topped the medal tally with 37 golds at the Khelo India Youth Games in Pune. It has 111 medals in its kitty with 37 gold, 31 silver and 43 bronze. Delhi continued to follow second with 30 gold and Haryana too maintained its third position with 28 gold.

Explanation: The 38-year-old K Dhanya Sanal, a spokesperson for the Union Ministry of Defence, has become the first woman, who is trekking to Agasthyarkoodam peak, after the Kerala High Court lifted the ban on women’s trekking on December 9 last year.

Explanation: The second India-Myanmar bilateral Army exercise “IMBEX 2018-19” commenced at Chandimandir military station near Chandigarh.

Explanation: Ministry of Water Resources, River Development and Ganga Rejuvenation, Government of India is organizing the 9th International Micro Irrigation Conference on modern Agriculture at Aurangabad in Maharashtra from January 16–18, 2019.

Explanation: The Chennai Traffic Police inducted a road safety robot into its fold. Named ROADEO, the robot will make the pedestrians, especially children, feel safe while crossing the roads.

Explanation: Bihar Deputy Chief Minister Sushil Kumar Modi will head the seven-member Group of Ministers (GoM) to look into the revenue shortfall being faced by states following the roll out of GST.

Explanation: Senior Congress leader, a permanent invitee of All India Congress Committee (AICC) and former chairman of Maharashtra Legislative Council ShivajiRao Deshmukh passed away following brief illness.

Explanation: Veteran filmmaker and chairman of Kerala State Film Development Corporation Lenin Rajendran has passed away. He was 67 and was under treatment for liver ailments.

Explanation: Government eMarketplace (GeM) has launched an initiative-Womaniya on GeM– to enable women entrepreneurs and self-help groups to sell different products at the platform.

Explanation: Assam Government set up a Group of Ministers (GoM) headed by Dr Himanta Biswa Sarma to recommend measures for protection of rights of existing tribal communities as well as to decide on the benefits to be given to new Scheduled Tribes.

Explanation: Civil Aviation Minister Suresh Prabhu inaugurated the Global Aviation Summit 2019 in Mumbai. The two-day summit, with a theme “Flying for All-especially the next 6 billion”, is being organised by Ministry of Civil Aviation in association with FICCI.

Explanation: Mohammed Ali Qamar was the man who brought India her first Commonwealth Games gold medal in boxing in 2002

Explanation: The government extended the service of Finance Secretary Ajay Narayan Jha by a month till February-end. He was to retire on January 31.

Explanation: The ICC announced the appointment of Manu Sawhney as its new Chief Executive Officer.

Explanation: Sir Michael Atiyah,a British Mathematician, who received the 1966 Fields Medal, also known as the ‘Nobel for Mathematics,’ passed away at the age of 89. Atiyah was best known for his co-development of a branch of mathematics called topological K-theory and the Atiyah-Singer index theorem.

Explanation: Minister of State (I/C) for Youth Affairs and Sports Col Rajyavardhan Rathore (Retd) launched the National Youth Parliament Festival 2019 in NewDelhi, thereby beginning the celebration of the National Youth Day 2019.

Explanation: Asian Cup gold medallist Shakil Ahmed has added one more feather to his cap when he set up a world record in indoor rowing by completing 1,00,000 (one lakh) metres in above-40 years category in Kolkata.