Weekly CA Quiz: June 2020 3rd week

India joined the league of leading economies including USA, UK, EU, Australia, Canada, France and others to launch the Global Partnership on Artificial Intelligence (GPAI).

Private lender ICICI Bank has unveiled a paperless facility that will enable its salary account customers to get approvals for overdraft (OD) instantaneously.

Airtel Payments Bank launched a new salary account for micro, small and medium enterprises. Called the Suraksha Salary account, it will enable MSMEs and other organisations to make cashless payments and provide a financial security blanket to their employees.

In pursuance of regulation 3 of the Insolvency and Bankruptcy Board of India (IBBI) advisory committee regulation 2017, the IBBI board has restructured an advisory committee on Corporate Insolvency Resolution and Liquidation process by including four new members.

Minister of Petroleum and Natural Gas & Steel Dharmendra Pradhan launched the Indian Gas Exchange (IGX), first nationwide online delivery-based gas trading platform.

Noted folk singer of Uttarakhand Heera Singh Rana died at the age of 78 in Delhi due to a heart attack.

Dinyar Patel’s superb biography of the pioneering Indian nationalist Dadabhai Naoroji has been released by Harper Collins.

International Day of Family Remittances 2020 ( IDFR) is celebrated each year on June 16 across the world. The day is organised by the United Nations and is universally accepted.This day is celebrated to recognise the efforts of migrants who help to improve the lives of their family members back home.International Day of Family Remittances 2020 theme is “Remittances are a lifeline.”

temple believed to be 500 years old has been found in the Mahanadi River in Odisha.

Uttar Pradesh has become the top state in the country to provide employment to the workers under the Mahatma Gandhi National Rural Employment Guarantee Scheme MGNREGA.

The UN Conference on Trade and Development (UNCTAD) said in a report, India received $51 billion in foreign investment in 2019 and was the world’s 9th largest recipient of foreign direct investments (FDI) in 2019.

Bollywood actor and Gopalganj resident of Bihar Pankaj Tripathi has been made the brand ambassador of Khadi in Bihar.

The Ministry of Finance notified the appointment of Devendra Kumar Singh, Additional Secretary & Development Commissioner, Ministry of Micro, Small and Medium Enterprises, as Central Government nominee Director on the Board of Directors of Small Industries Development Bank of India (SIDBI).

Kyrgyz Prime Minister Mukhammedkalyi Abylgaziev has resigned, citing an ongoing criminal investigation into the assignment of national radio frequencies.

West Bengal Chief Minister Mamata Banerjee launched Karmo Bhumi portal to help IT professionals, who returned to Bengal after losing jobs in the wake of COVID-19 outbreak.

India’s first infectious disease diagnostic lab is now ready. This rapid response mobile labrotary is part of government Aatmnirbhar Bharat.

The World Day to Combat Desertification and Drought is a United Nations observance each June 17.Its purpose is to raise awareness of the presence of desertification and drought, highlighting methods of preventing desertification and recovering from drought.This year the theme for World Day to Combat Desertification And Drought is “Food. Feed. Fibre“.

India continues to remain ranked 43rd on an annual World Competitiveness Index compiled by Institute for Management Development (IMD) with some traditional weaknesses like poor infrastructure and insufficient education investment keeping its ranking low.

India and China have increased their nuclear arsenal over the last year, according to the Stockholm International Peace Research Institute (SIPRI).

India was elected as a non-permanent member of the UN Security Council for a two-year term after winning 184 votes in the 193-member General Assembly.

Two Indian firms, ZestMoney and Stellapps figure in a new list of Tech Pioneers released by the World Economic Forum (WEF) which described these 100 entities as future headline-makers addressing global issues with cutting-edge technology.

The Asian Paralympic Committee (APC) announced that Bahrain will host the fourth edition of the Asian Youth Para Games from December 1 to 10 next year.

Shakhriyar Mamedyarov from Azerbaijan became the winner of the World Stars Sharjah Online Chess Championship 2020, a double round-robin tournament with 10 min +3 sec time control organized by the Sharjah Cultural & Chess Club.

Former Supreme Court judge DK Jain will continue as Board of Control for Cricket in India’s ethics officer and ombudsman after getting a one-year extension from the cricket Board.

Germany sought to mobilize the public 0to download a new smartphone app that seeks to help break the chain of coronavirus infections, one of several such apps in Europe that governments hope will revive travel and tourism.

Karnataka government observed ‘Mask Day’ on June 18 to create awareness in the masses about the importance of wearing one amid the Covid pandemic.

India’s 3rd largest lender, Bank of Baroda will completely digitize its lending operations including home, agriculture, Micro, Small and Medium Enterprises(MSME), personal and auto loans.

ICICI Home Finance (ICICI HFC) has launched SARAL – an Affordable Housing Loan. This housing loan will be aimed to fund homes in urban and rural areas.

Hit hard by the coronavirus pandemic, the Indian economy is expected to contract by 4 per cent during the current financial year, the ADB said in a supplement to its Asian Development Outlook (ADO).

Turkish’s diplomat Volkan Bozkir has been elected president of the 75th session of the UN General Assembly.

Prime Minister Narendra Modi launched a massive rural public works scheme, Garib Kalyan Rojgar Abhiyaan, in six states.

India, which has been elected as a non-permanent member of the Security Council, will serve as the president of the powerful 15-nation UN body for the month of August, 2021.

Karnataka Bank has launched a health insurance policy to cover the uncertainties posed by the Covid-19 pandemic in a tie-up with Universal Sompo General Insurance Company.

The Ministry of Housing and Urban Affairs (MoHUA) and Small Industries Development Bank of India (SIDBI), signed an MoU to engage SIDBI as the implementation agency for the PM Street Vendor’s Aatma Nirbhar Nidhi (PM SVANidhi), a special micro-credit facility for street vendors.

The formal employment in India grew by a robust 28.6% in 2019-20 on the back of major policy reforms of the government, including the roll-out of GST, allowing fixed-term contracts across sectors and lower exits by EPFO subscribers because of better returns on PF deposits and services offered by the retirement fund body.

The Asian Development Bank said countries in Developing Asia will “barely grow” in 2020, while India’s economy is forecast to contract by 4 per cent this fiscal due to the adverse effect of the coronavirus pandemic.

Former governor of Reserve Bank of India (RBI) Urjit Patel who resigned from his post in December 2018 after a tussle with the government over the central bank’s autonomy has been appointed as the chairman of the New Delhi Based economic think tank National Institute of Public Finance and Policy (NIPFP).

The mines ministry announced the launch of a portal “SATYABHAMA (Science and Technology Yojana for Aatmanirbhar Bharat in Mining Advancement)” with an aim to promote research and development in the mining and minerals sector.

Megha Majumdar’s debut novel, A Burning, was released recently to positive reviews. It became a New York Times best seller.

The United Nations’ (UN) World Refugee Day is observed on June 20 each year to commemorates the obstacles refugees face each year, while also celebrating their courage and strength.The theme of World Refugee Day this year is “every action counts.”

Union Minister of Development of North Eastern Region (DoNER) Dr Jitendra Singh has reviewed the COVID status and healthcare facility in Aspirational districts with special focus on North East.

Reigning national champion Niki Poonacha has been elected to the International Tennis Federation (ITF) men’s player panel.

World Hydrography Day is observed on 21 June. This day was adopted by the International Hydrographic Organization (IHO) as an annual celebration to increases awareness about the protection of safe navigation and marine life protection.World Hydrography Day 2020 theme is “Hydrography enabling autonomous technologies”

The International Day of Yoga has been celebrated annually on 21 June since 2015, following its inception in the United Nations General Assembly in 2014. Yoga is a physical, mental and spiritual practice which originated in India.The theme of International Day of Yoga this year is ‘Yoga at home, Yoga with family’

Social worker and National Award winner Vidyaben Shah passed away at her residence in the national capital. She was 98.

Facebook Inc acquired Swedish mapping technology company Mapillary, which collects images from tens of thousands of contributors to build immersive and up-to-date maps.

Social worker and National Award winner Vidyaben Shah passed away at her residence in the national capital. She was 98.

Government think tank Niti Aayog has formed a panel including top officials of tech companies like Google, Microsoft and Tech Mahindra to develop a job platform for migrant labours.

Billionaire Mukesh Ambani’s flagship Reliance Industries Ltd. became the first Indian company with a market value of Rs 11 lakh crore as investors rejoiced fundraising that will make it debt-free.

Leading bourse BSE figures among the world’s 10 largest exchanges in terms of cumulative market capitalisation of all companies listed on its platform, as per the latest data from the World Federation of Exchanges.