Weekly CA Quiz: July 2020 4th week

A 59-year-old Indian-origin nurse, Kala Narayanasamy in Singapore has been conferred with the President’s Award for Nurses for serving on the frontline during the COVID-19 pandemic.
Kala Narayanasamy was among the five nurses given the award.

The Rajya Sabha secretariat has launched an Employees’ Welfare Scheme in the name of former Union finance minister Arun Jaitley, who was also the Leader of the House in the Rajya Sabha.

Delhi Chief Minister Arvind Kejriwal launched “Mukhya Mantri Ghar Ghar Ration Yojana” to help the eligible beneficiaries get ration delivered at home.

The Competition Commission of India has approved the acquisition of Krishnapatnam Port Company Limited by Adani Ports and Special Economic Zone Limited.

India Business Council hosted the 2020 India Ideas Summit which was addressed by the Prime Minister Narendra Modi. The two-day summit’ organised by USIBC also marked the 45th anniversary of the formation of the council and is based on the theme ‘Building a Better Future’.

India is among the 10 worst countries for working people, according to the seventh edition of the International Trade Union Confederation (ITUC) Global Rights Index that ranks 144 countries on the degree of respect for workers’ rights.
The others include Bangladesh, Brazil, Colombia, Egypt, Honduras, Kazakhstan, the Philippines, Turkey and Zimbabwe.

European governments approved the most ambitious climate change plan to date, agreeing to pour more than 500 billion euros ($572 billion) into everything from electric cars to renewable energy and agriculture.

Airtel Payments Bank Ltd has collaborated with National Skill Development Corporation (NSDC) to train and skill young people in rural areas on financial services, enabling them to find jobs and become entrepreneurs in the sector.

Economic activity continues to remain weak and will lead to a 6.1 per cent contraction in India’s GDP in the current fiscal, a foreign brokerage said.

England’s Ben Stokes has overtaken West Indies captain Jason Holder to become the number one ranked all-rounder in the world

Microfinance Institutions Network (MFIN), the industry association and Self-Regulatory Organization (SRO) for the microfinance industry in India has appointed Dr Alok Misra, currently Professor & Chairperson of Public Policy & Governance at MDI Gurgaon, as its new Chief Executive Officer.

Unit 3 of the Kakrapar nuclear power plant in the Surat district of the Indian state of Gujarat has attained a sustained chain reaction for the first time. The unit is India’s 23rd reactor to enter operation.

The Indian Navy’s largest solar power plant has been commissioned at Ezhimala, located near Payyanur, in Kannur district of Kerala.

Singaporean brokerage DBS has predicted deeper distress for the country which will lead to a 6 per cent growth contraction in FY21. In its earlier forecast, the brokerage had penciled in a minus 4.8 per cent growth for the current fiscal.

The Union Ministry of Finance has sanctioned over Rs 8,700 crore under a special scheme, ‘SWAMIH’ to ensure completion of about 60,000 houses.
The Special Window for Affordable and Mid Income Housing scheme (SWAMIH) aims to complete construction of stalled, brownfield, RERA-registered residential developments that are in affordable housing/mid-income category.

Kerala-based NBFC, Muthoot Fincorp, has launched a portal Restartindia, a free mentoring platform to help the Micro, Small & Medium Enterprises (MSME) sector to restart businesses across the country.

A “one-stop shop” scheme approved in Rajasthan is set to fast-track investments and help revive industries in the midst of the COVID-19 pandemic by giving as many as 98 types of clearances under one roof to the potential investors through the Bureau of Investment Promotion (BIP).

P. Amudha, a 1994 batch IAS officer of Tamil Nadu cadre, has been brought to the Prime Minister’s Office (PMO) as Joint Secretary in a reshuffle involving 16 officials of elite services from different categories.

Mark Honigsbaum is a medical historian, journalist, and author has released his new book titled ”The Pandemic Century: One Hundred Years of Panic, Hysteria and Hubris’.

Sri Lanka woman cricketer Sripali Weerakkody has decided to retire from international cricket with immediate effect. She has officially informed her intention to Sri Lanka Cricket.

Tata AIA Life Insurance has appointed Naveen Tahilyani as the new Chief Executive Officer & Managing Director. This is subject to regulatory approval from Insurance Regulatory and Development Authority of India (IRDAI). This is Tahilyani’s second stint at Tata AIA Life Insurance.

Partha Pratim Sengupta, Deputy Managing Director and Chief Credit Officer at State Bank of India, has been appointed as the new Managing Director and Chief Executive Officer of Indian Overseas Bank.

The HRD Ministry has set up a committee to form guidelines and suggest measures to ensure that more students study in India and there is a smooth transition for students returning from abroad due to COVID-19 situation.
The committee headed by D. P. Singh, chairman of the University Grants Commission (UGC) is also supposed to recommend a mechanism to increase the intake in well-performing universities.

Gross non-performing assets of all banks may jump to 12.5 per cent by the end of this fiscal under the baseline scenario, from 8.5 per cent in March 2020, according to the Financial Stability Report (FSR) released by the Reserve Bank.

Prominent child-rights activist and founder of Balala Hakula Sangam, a child rights organisation, Achyuta Rao succumbed to Covid-19 at a private hospital in the city in Hyderabad . He was 58.

Russia has for the first time conducted a successful flight test of MGTD-20, a 3D-printed aircraft engine, and its production is scheduled for 2021-2022.

Sahil Seth, Deputy Commissioner of Mumbai Customs, has been appointed as an honorary adviser to the steering committee for the BRICS Chamber of Commerce and Industry (CCI) young leaders for the period 2020-2023.

Rajesh Bhushan, IAS officer of 1987 Batch, Bihar Cadre has been appointed as the new Health Secretary in the Union Health Ministry.

Noted Urdu poet Mohammad Shamshuddin, popularly known as ‘Shams Jalnavi’, died Maharashtra due to old age problems. He was 95.

The Jammu and Kashmir Lieutenant Governor, G C Murmu announced the launch of a macadamisation program for roads across the Union Territory.

The Indian Railways is to begin using Radio-Frequency Identification Tags (RFID) for tracking all wagons by the year 2022. A total of 23,000 wagons have been covered under the RFID project so far.

India and the Maldives signed a contract to set up Geydoshu Mas Plant (Neighborhood Fish Processing Plants) at two of the islands – Maradhoo and Hulhudhoo in the Maldives.

The Asian Development Bank (ADB) and the Green Climate Fund (GCF) agreed to partner toward a ‘green recovery’ for members confronting the harsh economic impact of the coronavirus disease (COVID-19) pandemic.

The Finance Ministry said that five proposals involving an amount of ₹3,090 crore had been sanctioned under the ₹30,000 crore Special Liquidity Scheme for NBFCs and HFCs.

The silver medal that the Indian 4×400 mixed relay quartet of Mohammed Anas, M.R. Poovamma, Hima Das and Arokia Rajiv won at the 2018 Asian Games in Jakarta has been upgraded to gold.

Haryana will host the fourth edition of the Khelo India Youth Games after the 2021 Tokyo Olympics, the state’s chief minister Manohar Lal Khattar and union sports minister Kiren Rijiju announced. The Games will be held in Panchkula.

International Union of Railways, UIC, Paris, has nominated Director General of 54r2 Railway Protection Force, Arun Kumar, as Vice-Chairman of its security platform.

The Indian Railways is in the process of building the world’s first electrified tunnel which is capable of running double stacked container trains.
The tunnel when complete will be around 1 kilometre long and is situated near Rewari and Dadri in Haryana.

India has been ranked third among the top 10 countries that have gained in forest areas in the last decade (2010-2020) as per the latest Global Forest Resources Assessment (FRA) released by the United Nations Food and Agriculture Organization (FAO).

Union Agriculture Minister Narendra Singh Tomar inaugurated India’s first honey testing lab set up by National Dairy Development Board (NDDB) at Anand in Gujarat.

In view of the situation arising out of COVID-19 pandemic, an additional allocation of 40 thousand crore rupees has also been made for the Mahatma Gandhi National Rural Employment Guarantee Scheme during this financial year.

Earth Sciences Minister Harsh Vardhan launched a mobile application ‘Mausam’ which will provide city-wise weather forecasts, nowcasts and other warnings.

The Defence Research and Development Organisation (DRDO) launched ‘Dare to Dream 2.0’, which is an innovation contest.
The contest was launched on the fifth death anniversary of renowned scientist and former President of India Dr APJ Abdul Kalam, the Ministry of Defence.

World Hepatitis Day, observed on July 28 every year, aims to raise global awareness of hepatitis, a group of infectious diseases known as Hepatitis A, B, C, D, and E and encourage prevention, diagnosis and treatment.
The theme for this year is “Hepatitis-free future”.

Chief Minister Arvind Kejriwal-led Delhi govt started portal for employers and the job seekers. The website http://jobs.delhi.gov.in, named as ‘Rozgar Bazar’, a sort of marketplace for job seekers and the people recruiters.

In a move to intensify surveillance, Assam deployed a Surveillance Quadcopter (Drone) and an anti-depredation quick response vehicle.

Senior advocate and author Bhaskarrao Avhad passed away in a hospital in Pune after a brief illness. He was 78.

The Lucknow Municipal Corporation named a road and a crossing in the city after former Madhya Pradesh Governor Lalji Tandon.
The Chauk Chauraha will now be known as Lalji Tandon Chauraha and the Lucknow-Hardoi Road will be known as Tandon Marg.

Expecting prolonged restrictions in movements due to rising COVID-19 cases, a foreign brokerage has cut India’s FY21 GDP estimate sharply to a contraction of 6 per cent as against 4 per cent earlier.

Archana Soreng, a climate activist from India has been named by UN Secretary-General Antonio Guterres to his new advisory group comprising young leaders who will provide perspectives and solutions to tackle the worsening climate crisis, as the global body mobilizes action as part of the COVID-19 recovery efforts.

The government has appointed former chairman of Coal India, Anil Kumar Jha, as the chairman of a key panel that deals with violation of environment rules.

The State Bank of India (SBI) is providing liquidity support of USD 16.20 million for local businesses and deferred loan repayment for over 200 retail accounts, the Indian High Commission in the Maldives.

IRCTC and SBI Card together launched their new Co-branded Contactless Credit Card on RuPay Platform

Bharti AXA General Insurance, a joint venture between Bharti Enterprises, one of India’s leading business groups, and AXA, one of the world’s largest insurance companies, has launched its crop insurance campaign – ‘Bohot Zaroori Hai’ – for farmers in Maharashtra and Karnataka to encourage them about their yield protection and financial security.

The Centre, in collaboration with the World Bank, has decided to convert large area of ravines in Gwalior-Chambal belt of Madhya Pradesh into arable land, and a preliminary report for the same will be prepared in a month.

Finance Minister Nirmala Sitharaman said banks have sanctioned Rs 89,810 crore to about 11 million Kisan Credit Card (KCC) holders to help farmers meet finances for kharif sowing and allied activities.

Sundaram Mutual has introduced ‘Any Day SIP’ feature in all open-ended schemes of the fund house, except in liquid schemes. This is effective July 29, 2020.

In view of the coronavirus pandemic, the government announced the extension of a deadline for mandatory hallmarking of gold jewellery and artefacts by over four months till June 1, 2021.
Accordingly, from June 1 next year, jewellers will be allowed to sell only 14, 18 and 22 carats of gold jewellery.

Veteran domestic all-rounder and former Kolkata Knight Riders star Rajat Bhatia has announced his retirement from all forms of cricket, bringing an end to a 20-year long career

The world day against trafficking in persons is observed on July 30 every year in order to raise awareness about the condition of victims of human trafficking and to promote and protect their rights.
Theme: Committed to the Cause – Working on the Frontline to End Human Trafficking.

Leicester City’s forward Jamie Vardy claimed his maiden Golden Boot award and in the process became the oldest player in Premier League history to claim the prize with 23 goals .

Five Rafale jets, the first of the 36 contracted by India, landed at the Ambala air base.
The fighter jet, to be inducted into the Indian Air Force’s ‘Golden Arrow’ squadron, is the first imported fighter jet to be inducted into the IAF in 23 years after the Russian Sukhoi-30 fighters.

Multilateral funding agency ADB said it has approved USD 3 million (about Rs 22 crore) grant to India from its Asia Pacific Disaster Response Fund to further support the government’s emergency response to COVID-19 pandemic.

Guwahati Development Department Minister Siddhartha Bhattacharya inaugurated city’s first manhole cleaning robot to ensure minimal human involvement to clean the sewers. Guwahati is the first city in the entire Northeast region to get a manhole cleaning robot.
Named ‘BANDICOOT’, the automatic sewer cleaning device has been procured by the Guwahati Municipal Corporation (GMC) along with six Skid Steer Loaders (mini loaders) from JCB.

The Cabinet gave ex-post facto approval to an agreement between India and Zimbabwe on cooperation in the field of traditional systems of medicine and homeopathy.

The United Kingdom India Business Council signed a Memorandum of Understanding (MoU) with Industrial Extension Bureau (iNDEXTb), Industries and Mines Department, Government of Gujarat.

The board of directors of ICRA Ltd has appointed N Sivaraman as the Managing Director and Group Chief Executive Officer of the credit rating agency for three years with effect from August 10, 2020. Currently he’s with the IL&FS group.

The board of governors of Asian Infrastructure Investment Bank (AIIB), elected Jin Liqun for a second term as President.