Weekly CA Quiz: June 3rd week (16 June – 23 June)

Through this initiative, the Ministry will mobilize health personnel, State Governments and other stakeholders to prioritize investment in control of diarrhea, one of the most common childhood illnesses.

DCB Bank has launched new services – India’s first Aadhaar based iris eye scan customer verification and fingerprint operated ATM in Telangana.

Existing bank account holders have been asked to furnish their Aadhaar number issued by the Unique Identification Authority of India (UIDAI) by December 31, 2017, failing which, the account will cease to be operational.

The government has made quoting of biometric identity number Aadhaar mandatory for opening bank accounts as well as for any financial transaction of Rs 50,000 and above.

The government has made quoting of biometric identity number Aadhaar mandatory for opening bank accounts as well as for any financial transaction of Rs 50,000 and above.
The amendment makes it mandatory for individuals, companies, and partnership firms to quote Aadhaar along with PAN or Form 60 for all financial transactions of Rs 50,000 or above with effect from June 1.

India’s current account deficit is expected to be around 1.4 per cent of GDP in 2017 compared to 0.6 per cent in 2016, owing to stronger domestic growth, according to a report by Nomura, Japanese financial services major.

The Tamil Nadu Government has announced free education for the transgender community in all the colleges of state’s Manonmaniam Sundaranar University.
Manonmaniam Sundaranar University is the first in India to offer free education to the transgenders.

Sulabh International founder and chief Bindeshwar Pathak has announced that an open defecation-free (ODF) village in Mewat will be named after the US President Donald Trump

The government has appointed senior vice president at Tata Consultancy Services, Ramanathan Ramanan to head Atal Innovation Mission, its initiative to promote entrepreneurship in the country, in perhaps the first initiative to bring in best of private minds to drive innovation in governance.

Delhi Metro Railway Corporation (DMRC) Principal Adviser E. Sreedharan has been selected for the year’s Nanniyode Rajan Memorial Award

The GII, which covers 130 countries, gave the overall top spot to Switzerland, followed by Sweden, Netherlands and the US.
The WIPO’s Global Innovation Index (GII) for 2017 ranked India 60 for innovation, up from 66 last year.
Also, it ranked India as the top global exporter of information, computer and telecommunications (ICT) services.

Mozambique topped the list because almost all its energy use comes from green sources.

India has been placed 75th, with renewable energy making up only 15.2 per cent of all energy used; only 2.2 per cent of waste water being recycled, and municipal waste of 0.34 kg per person being generated daily.

Africa as a continent topped the charts and featured strongly in its use of green energy, low CO2 emissions and low levels of air pollution and waste production.

The second annual meeting of the China-led Asian Infrastructure Investment Bank (AIIB) has started in South Korea.
First meeting was held in 2016 in China.
Also AIIB approved the membership of Argentina, Madagascar and Tonga at its second annual meeting of Governors.
AIIB headquarters – Beijing, China

Former Chief Justice of India P.N. Bhagwati, who introduced public interest litigation (PIL) to the Indian judicial system, has passed away.

India bagged 5 medals in 2017 Asian Junior Wrestling Championships.

Know India Programme is an initiative of the Ministry of External Affairs for the Persons of Indian Origin (PIO) between the age group of 18 to 30 years.

President Pranab Mukherjee has inaugurated the much-awaited underground section of the Green Line of Bengaluru’s Namma Metro train service.

Connaught Place in New Delhi has been ranked the ninth-most expensive prime office market in the world — down from seventh last year — with an occupancy cost of $153.89 per square foot per annum, according to bi-annual Global Prime Office Occupancy Costs Survey of US-based CBRE.

Asia continues to dominate the list of the world’s most expensive office locations, accounting for seven of the top 10, according to the survey.

Noted Kannada poet and playwright H S Shivaprakash has been presented with the Kusumagraja Rashtriya Puraskar 2017.

Iceland has been ranked first in the Global Peace Index 2017, making it the most peaceful nation around the globe.
India has been ranked at 137th position globally.
Bhutan, which ranked 13, has been named as the most peaceful country in South Asia.

India will host the third annual meeting of the China-initiated Asian Infrastructure Investment Bank (AIIB) in Mumbai, India, in June 2018.
AIIB’s 2nd annual meeting held in Jeju Island, South Korea
India is AIIB’s second-largest shareholder.

The 106th Session of International Labour Conference (ILC) was held from 5-16th June 2017 in Geneva, Switzerland.

Vivid Sydney is an annual outdoor lighting festival with immersive light installations and projections in Sydney, Australia. The Guinness World Record have given the Vivid Sydney installation Dreamscape the title for the ‘Largest interactive lighting display’.

The General Assembly (UNGA) has re-elected India to another three-year term on the Economic and Social Council (ECOSOC). India will again serve the 36-member UN body that guides sustainable development policies and coordinates the activities of several UN units

India’s K Srikanth has lifted the Indonesia Open Super Series badminton title by defeating Japanese qualifier Kazumasa Sakai.

Sabarmati Ashram, which served as epicentre of the country’s freedom struggle during Mahatma Gandhi stay there, celebrated its centenary on June 18 2017.

In a bid to give a major push to Prime Minister Narendra Modi’s Digital India initiative, the Pension Fund Regulatory and Development Authority (PFRDA) of India has now introduced APY@eNPS to benefit pensioners across the nation. Pensioners can now subscribe for Atal Pension Yojana through “APY@eNPS”, which involves a complete digital enrolment process hassle free.

The government has roped in Bollywood megastar Amitabh Bachchan to promote Goods and Services Tax (GST), ahead of the sweeping tax reform’s implementation scheduled from July 1.

The Mobile App has been developed on the occasion of International Yoga Day 2017.
The purpose of the APP is to popularize Yoga and encourage people to participate in it for a scientifically healthy living.

In the year of commemoration of the birth centenary of Pandit Deen Dayal Upadhyay, who hailed from Mathura district in Uttar Pradesh, the Ministry of Culture, Government of India has launched the implementation of the ‘‘National Mission on Cultural Mapping of India’ at Goverdhan Block, Mathura District, Uttar Pradesh.

Developed by Ministry of Power and Bureau of Energy Efficiency (BEE), ECBC 2017 prescribes the energy performance standards for new commercial buildings to be constructed across India.

The iconic Taj Mahal Palace in Mumbai has just got itself trademarked. This makes the 114-year-old building the first in the country to get such a registration.
The Taj Mahal Palace was built in 1903.
Now nobody can now use the image of Taj Mahal Palace for commercial use. So, selling any object with the image is illegal

The Indian Space Research Organisation’s (ISRO) maiden interplanetary mission, Mars Orbiter Mission (MOM), completed 1000 earth days in its orbit on June 19, 2017, well beyond its designed mission life of six months.
The mission of ISRO, which was launched on November 5, 2013 by PSLV-C25, an expandable launch system, entered the Martian orbit on September 24, 2014 in its first attempt.

Snapdeal Sunshine, a CSR initiative run by Snapdeal, announced the launch of ‘HarHaathEkKitaab’ campaign, in partnership with The National Book Trust (NBT).
As a part of the campaign, Snapdeal will encourage its customers to buy and donate books published by the National Book Trust India.

Kang Kyung-wha — first female foreign minister.
Park Geun-hye — first female President of South Korea.
Present president — Moon Jae-in

Afghan President Ashraf Ghani has inaugurated the first Afghanistan-India air corridor at the Kabul International Airport.
The corridor is a direct route that will bypass Pakistan and is meant to improve commerce in Afghanistan.

The state government will provide $124 million as counterpart support for the project, which is estimated to be completed by June 2022.
* Asian Development Bank Headquarters – Manila, Philippines
* President – Takehiko Nakao
* Membership – 67 countries
* Established – 19 December 1966

Axis Bank, India’s third largest private sector bank in association with Kochi Metro Rail Corporation (KMRL) has launched KMRL Axis Bank ‘Kochi1’ Card, India’s first open loop EMV contactless metro card that would make travel a convenient and hassle free experience for commuters in Kochi.
* ICICI Bank – country’s first ‘contactless’ debit and credit cards.
* Axis Bank – India’s first open loop EMV contactless metro card

Axis Bank has partnered with National Payments Corporation of India (NPCI) in developing this transit EMV contactless specification on interoperable open standards.

Hike Messenger has launched the new version of the app with a completely new interface and the addition of a mobile wallet, in partnership with YES Bank.

Meghalaya government has signed two MoUs with the State Bank of India for their SBIePay and SBI CMP facilities as a part of an initiative towards migrating government transactions to digital mode.

West Bengal Governor Keshari Nath Tripathi was given additional charge of Bihar.

The number one clean city of India — Indore has got another milestone to its name. This commercial capital of Madhya Pradesh has reportedly become the first city in India where robot is being used on an experimental basis to control its ever growing and unruly traffic.

The institute, which is situated in Pune, was started in 1975 by one of the chief yoga guru, B.K.S Iyengar and is quite popular around the world for its serious yoga practice.

Sachin Tendulkar’s mother-in-law and social activist Annabel Mehta, a British national, has been awarded the MBE (Member of the Order of the British Empire) for her work and service to the underprivileged.

The UN children’s agency has announced the appointment of its youngest goodwill ambassador — 19-year-old Syrian refugee and education activist Muzoon Almellehan.

June 20
Embracing Refugees to Celebrate our Common Humanity

The project aims at improving predictability and transparency in budget execution and efficiency in tax administration in Assam.

Banks’ credit growth grew at 6.02 per cent to Rs 76,58,212 crore in the fortnight ended June 9 from Rs 72,22,939 crore in the same period of fiscal 2016, according to the data released by RBI.

According to Fitch Ratings, India’s GDP growth will steadily rise from 7.4% to 7.5% in 2018-19 and to 7.6% in 2019-20.

Economic think-tank NCAER has revised up its projection for the country’s economic growth to 7.6 per cent for the current fiscal, compared with the earlier prediction of 7.3 per cent on forecast of normal monsoon.

In a bid to fulfill one of its major poll promises, Captain Amarinder Singh-led government in Punjab has announced free education for girls in all public institutions from nursery to PhD, in spite of the financial crunch currently being faced by the state.

Urban Development Secretary Rajiv Gauba has been named as the next Home Secretary to succeed Rajiv Mehrishi, who completes his term on 30 August.

Mumbai is the most expensive Indian city for expatriates and is ranked above major cities like Paris, Canberra, Seattle and Vienna, a report by consulting firm Mercer revealed.

The capital of Angola, Luanda was named the costliest city globally for expats followed by Hong Kong.

The Indian Navy’s first indigenously built Floating Dock (FDN-2), developed by Larsen & Toubro Ltd. (L&T), has been launched.

NASA is testing the effectiveness of a flexible solar array, the Roll-Out Solar Array, or ROSA, on space station for the very first time. ROSA is expected to one day power satellites and spacecraft. NASA had earlier tested the ROSA technology in vacuum chambers on the Earth but this is the first time it is testing the technology in space.

Qatar Airways has surpassed Emirates to claim the title of best carrier at the annual World Airline Awards at Skytrax awards in Paris.

China has unveiled world’s first train that runs on a virtual track making use of sensor technology instead of metal rails.

The King of Saudi Arabia, Salman has declared his son Mohammed bin Salman as the Crown Prince, replacing his nephew Mohammed bin Nayef through a royal decree.

International Day of Yoga, or commonly and unofficially referred to as Yoga Day, is celebrated annually on 21 June since its inception in 2015.

World Bank (IBRD) and AIIB [ratio = 60:40]
World bank= USD 240 million
AIIB= USD 160 million
Rest= Government of Andhra Pradesh

Total Cost of Project= USD 570 million
World Bank= USD 240 million
AIIB= USD 160 million
Rest= Government of Andhra Pradesh

It is a 5 membered committee headed by Shri Pradeep Kumar and wef September 7, 2017

The reconstituted OC will work with an expanded mandate to review, in addition to cases being restructured under the Scheme for Sustainable Structuring of Stressed Assets (S4A), resolution of other cases where the aggregate exposure of the banking sector to the borrowing entity is greater than ₹ 500 crore.

Vijaya Bank has bagged nine Skoch Awards. The bank received awards in the following categories — Best Bank in Public Sector; Best Bank for NPA Management – Organization Category; Retail Lending; Inclusive Wallet – VPAYQWIK; Digital Inclusion; IT Security; e-Surveillance of ATMs and branches; and 100 Digital Villages – Financial Inclusion.

Union Urban Development Minister Venkaiah Naidu, launched country’s largest municipal bond programme on Thursday morning in Mumbai. During the event, the Minister rang a gong to incorporate the Pune Municipal Corporation (PMC) in the list of BSE (Bombay Stock Exchange). The AA+ rated PMC’s municipal bonds raised Rs 200 crore at 7.59 per cent rate at the Bombay Stock Exchange (BSE).

Concerned over the complaints received from the public over the premium trains of Indian Railways like Rajdhani and Shatabdi Express, Railways have decided to launch “Operation Swarn (‘gold’)“.

Hit by global political and economic uncertainties, the Indian IT industry’s software exports are projected to grow at 7-8 percent this fiscal (2017-18), which is lower than 8-10 percent in the 2016-17 fiscal

Khango Konyak, self-styled Lieutenant General (retired) of the NSCN-K, has been unanimously elected chief of the outlawed group. The outfit’s former chief S.S. Khaplang died on June 9 in Myanmar following illness.

The former competitive powerlifter and South Asian Games gold medal winner Kavita Devi who hails from Haryana has been selected to compete in the Mae Young Classic, which is the first ever WWE tournament for women.

According to the World population Prospectus: The Revision released by the United Nations, India with 1.3 billion inhabitants would surpass China’s population of 1.4 billion by 2024, to become the World’s populous country.

United Nations Secretary-General António Guterres has appointed Vladimir Ivanovich Voronkov of the Russian Federation as Under-Secretary-General of the newly created United Nations Counter-Terrorism Office as established by the General Assembly resolution 71/291 on 15 June 2017.

San Diego, US

The pecuniary jurisdiction of the Banking Ombudsman to pass an Award has been increased from existing rupees one million to rupees two million (Rs 20 lakh).

Asian Development Bank (ADB) has approved a USD 102 million (Rs 568.31 crore) loan to train 2 lakh youngsters in Odisha.

The Indian Space Research Organisation ( ISRO) on Friday successfully launched Polar Satellite Launch Vehicle (PSLV-C38) for earth observation from Sriharikota, Andhra Pradesh.
Points to remember:
(i) Total 31 satellites were launched.
(ii) satellites of 14 nations were launched
(iii) 2 satellites were from India.

The Accord has grown from a initial group of six signatories in 1989 to 19 signatories in 2017.

The Embassy of India is hosting a three-day second edition of the “Ganga-Danube: Cultural Festival of India” and Third International Day of Yoga in 15 cities of Hungary from June 23 to June 25.

The world’s population will hit 9.8 billion by 2050: UN

10%. Also passports would now be in both Hindi and English, instead of just English.

Wipro Chairman Azim Premji is among the nine recipients of this year’s Carnegie Medal, considered the most prestigious prize in Philanthropy, for his efforts to reform India’s public school system.

‘MERIT’ (Merit Order Despatch of Electricity for Rejuvenation of Income and Transparency). This has been developed by Ministry of Power in association with POSOCO and Central Electricity Authority.

Andhra Pradesh topped the list scoring 96.06% marks.

‘Visiting Advanced Joint Research Faculty’ (VAJRA)

Odisha State Government has approved 53 urban projects with at a total expense of Rs 538 crore under the Central government’s ambitious scheme ‘Atal Mission for Rejuvenation and Urban Transformation AMRUT Scheme’ in nine cities.

India is a 10 per cent partner in this global project. India would spend Rs 1,300-crore on it.