Weekly CA Quiz: May 2019 2nd week with PDF

Explanation: May 7 was observed as World Asthma Day. The day is meant to raise awareness about asthma and is supported by Global Initiative for Asthma (GINA), National Heart Lung and Blood Institute (NHLB) and World Asthma Foundation.The theme is STOP for Asthma.

Explanation: Renowned Sikh historian Kirpal Singh passed away at his home in Chandigarh. He was 95. The first chronicler of India’s partition, Kirpal Singh is survived by two sons and a daughter. His wife, Joginder Kaur, passed away at age 93 in September last year.

Explanation: Considered as the tallest figure in modern legal education N.R. Madhava Menon passed away in Thiruvananthapuram at a private hospital. He was 84.

Explanation: Former billiards player, coach and administrator Derek Sippy passed away in Mumbai. He was the Indian team’s coach at recently concluded Asian Under-21 Boys Snooker and Asian Women Snooker tournament in Chandigarh.

Explanation: The Kings, a hip-hop dance crew from Mumbai, has found international glory with their victory on American reality television show “World of Dance”, taking home a cash prize of $1 million.

Explanation: Senegalese lawmakers approved a constitutional reform to scrap the post of prime minister, the first initiative of President Macky Sall‘s second term in office. The government approved the measure last month before sending it to the parliament where the presidential party enjoys a majority.

Explanation: Reserve Bank of India (RBI) has directed banks to enhance the housing loan limits for eligibility under priority sector lending (PSL) to Rs 35 lakh in metropolitan centres (with population of ten lakh and above) and Rs 25 lakh in other centres. In order to bring the RRBs and SFBs at a level playing field with other Scheduled Commercial Banks, it has now been decided to enhance the housing loan limits for eligibility under PSL.

Explanation: NASA is planning to launch a spacecraft aboard a SpaceX Falcon 9 rocket that will hit a small moonlet in the binary asteroid system Didymos in September 2022. The Double Asteroid Redirection Test (DART) NASA’s first mission to demonstrate a planetary defence technique is scheduled to be launched in mid-2021.

Explanation: India and Bangladesh will co-produce a film on the life and works of Bangabandhu Sheikh Mujibur Rahman and a documentary on Bangladesh Liberation War.

Explanation: The International Thalassaemia Day, celebrated on May 8 every year is a commemoration day in honour of all patients with thalassaemia and their wards who never gave up despite all odds. The day is a further nod to the researchers who are striving to create an improved quality of life for people with thalassaemia across the world. The theme for International Thalassaemia Day 2019 (ITD2019) is “Universal access to quality thalassaemia healthcare services: Building bridges with and for patients.”

Explanation: World Red Cross Day, also known as World Red Cross and Red Crescent Day which is observed every year on May 8 is a gentle nod to all the volunteers who have made unparalleled contribution to people in duress or need.

Explanation: Veteran television and film actor Mrinal Mukherjee passed away. He was 74. Mrinal Mukherjee made his debut with the 1955 film Dui Bon. He featured in many commercially successful films such as Golpo Holeo Sotti, Nayika Sangbad, Chuti, Shriman Prithviiraj, among others.

Explanation: Renowned economist Baidyanath Mishra passed away at his residence in Bhubaneswar. He was 99. Mishra had started his career as a lecturer in Ravenshaw University in Cuttack in 1949. He later worked at Odisha University of Agriculture and Technology (OUAT). He was vice-chancellor of OUAT from 1981 to 1985.

Explanation: Food inflation in the country is likely to go up to 2 per cent in the financial year 2019-20 from the 0.7 per cent estimated for FY19. The low food prices have been one of the prime factors which has aided the RBI to be more accommodatory in its rate setting recently.

Explanation: The Ministry of New and Renewable Energy (MNRE) held a brainstorming session for all stakeholders in the renewable energy industry. Presentations were made by CEOs on topics such as regulatory hurdles, energy storage, transmission constraints and low cost and long term funding among others.

Explanation: The Fifth United Nations Global Road Safety Week, under the theme “Leadership for road safety”, is taking place from May 6 to 12. This major worldwide campaign was requested by the United Nations General Assembly in April 2018 in resolution A/72/271 on improving global road safety.

Explanation: Prof Kirpal Singh, the first chronicler of Partition, who started building an archive in 1954, passed away at 95 in Chandigarh. He began his journey in Partition’s historiography in 1953 as a young lecturer at Khalsa College, Amritsar.

Explanation: In a bid to become a dominant player in the global toy retail industry, Mukesh Ambani-led Reliance Industries Limited (RIL) announced it has acquired iconic British toy retailer Hamleys from Chinese fashion wear firm C Banner International for an undisclosed sum.

Explanation: BharatPe – India’s first Fintech start-up enabling payments for merchants through interoperable UPI QR codes, has announced its foray into merchant services with a new app. The app allows merchants to record their cash/credit (Udhar) sales customer wise, request accounts receivable from customers via SMS payment links, and keep track of accounts payable to suppliers, among other services.

Explanation: United Nations General Assembly (UNGA) decided to hold its 2020 high-level conference early June in Portugal’s Lisbon to support the sustainable use of the oceans, seas and marine resources.

Explanation: WHO (World Health organization) collaborated with the International Food and Beverage Alliance (IFBA) to eliminate industrially produced trans fat (iTFA) from food supply worldwide by 2023. Trans fat-intake leads to coronary heart disease, due to which globally 5,00,000 deaths occur every year.

Explanation: ITC group Chairman Y C Deveshwar passed away morning at the age of 72 after a long bout of illness. In 2011, Deveshwar received the Padma Bhushan, India’s third-highest civilian award. Deveshwar was one of India’s longest-serving corporate chiefs with over two decades at the helm of ITC.

Explanation: IPS officer Chhaya Sharma, who led the investigation team of the infamous Nirbhaya gang-rape and murder case, has been awarded the 2019 McCain Institute Award for Courage and Leadership.

Explanation: Bank credit grew by 13.2% in financial year 2018-19 as compared to 10.3% in the previous financial year, mainly aided by loans to services and retail sector. Deposit growth also gained momentum, growing by 10% as compared to 6.7% a year ago.

Explanation: A dominating performance from French rider Adrien Metge saw TVS Racing win the 2019 edition of Desert Storm in Jaisalmer. The final stage, which spanned across 220 km, saw the riders brave a dust storm and navigate through the dunes of Jaisalmer.

Explanation: International Nurses Day is observed on May 12 every year to honour the contributions made by nurses in the society. It is celebrated on birth anniversary of Florence Nightingale, the founder of modern nursing.
International Nurse Day theme this year is “Nurses – A Voice to Lead – Health for All”. This year Nurses Day also coincides with Mother’s Day.

Explanation: Padma Shri awardee Bhojpuri vocal artist Hiralal Yadav passed away in Varanasi at the age of 93. Yadav was a well known Bhojpuri folk singer from the ‘Birha‘ genre. Yadav received a Padma Shri award, the country’s fourth highest civilian award, this year in January.

Explanation: Roshan Taneja, known to many as the ‘pioneer of method acting’ in India, is held in high regard in the Hindi film industry. He had been training talent since the 1960s, first at the Film and Television Institute of India (FTII) in Pune and later at his private school in Mumbai, the Roshan Taneja School of Acting.

Explanation: Serbian tennis superstar Novak Djokovic defeated Greece’s Stefanos Tsitsipas 6-3, 6-4 in the Madrid Open final, claiming his third title at the clay-court event and 33rd ATP Masters 1000 crown.

Explanation: The inaugural issue of world’s first exclusive women’s cricket magazine ‘Criczone‘ was released in Jaipur with Indian team vice-captain Smriti Mandhana featuring as the cover story.

Explanation: Young Indian racer Jehan Daruvala, driving for Prema Racing, won the inaugural round of the FIA Formula 3 Championship, one of the support events to Formula One in Barcelona.

Explanation: World Migratory Bird Day (WMBD) was initiated in 2006 helds on 12 and is an annual awareness-raising campaign highlighting the need for the conservation of migratory birds and their habitats.
The Day is celebrated on second Saturday in May and October. In 2019, this Day will be celebrated on 11 May and 10 October. The theme for WMBD 2019 is “Protect Birds: Be the Solution to Plastic Pollution!”

Explanation: Noted Tamil author and Sahitya Akademi winner Thoppil Mohammed Meeran passed away. He was 74. His short story collections include Anbuku Muthumai Illai, Thankarasu, Anathasainam Colony, among others.

Explanation: The summit clash of the Indian Premier League (IPL) 2019 between Mumbai Indians (MI) and defending champions Chennai Super Kings (CSK) is being held at the Rajiv Gandhi International Stadium in Hyderabad.

Explanation: India and China top a list of countries where illegal sand mining has become a major environmental problem, according to a report released by the United Nations Environment Programme (UNEP). While we cannot do without sand, responsible mining should be incentivised, said the report, ‘Sand and Sustainability: finding new solutions for environmental governance of global sand resources’.

Explanation: Defence Research and Development Organisation (DRDO) conducted a successful flight test of ABHYAS high-speed expendable aerial target (HEAT) from Interim Test Range, Chandipur in Odisha.

Explanation: Sanjiv Puri, Managing Director of diversified conglomerate ITC Ltd, was appointed the company’s new Chairman in the place of veteran Yogi Deveshwar, who passed away recently. The appointment of Puri, till now the Managing Director, was made by ITC at a meeting of its Board of Directors.

Explanation: Dinesh Pangtey has been appointed as Chief Executive Officer of LIC Mutual Fund. He started his career as a direct recruit officer with LIC of India in 1984 and has risen through the ranks to this senior position.

Explanation: The National Bank for Agriculture and Rural Development (NABARD) announced a Rs 700-crore venture capital fund for equity investments in agriculture and rural-focused startups. NABARD has been contributing to other funds till now and this is the first time that the rural development bank has launched a fund of its own.

Explanation: Former India women cricketer GS Lakshmi became the first female to be appointed to the ICC International Panel of Match Referees. The 51-year-old, who first officiated as a match referee in domestic women’s cricket in 2008-09, has overseen three women’s ODI matches and as many women’s T20I games.

Explanation: The 49-year-old Sherpa climber Kami Rita scaled Mount Everest for the 23rd time, breaking his own record of the most successful ascents of the world’s highest peak. Breaking his own record of 22 successful ascents of Everest, Kami Rita now became the only man on the planet to climb Everest for 23 times.

Explanation: Aarohi Pandit, 23, made history when she landed in to become the world’s first woman pilot to cross the Atlantic Ocean in a light sport aircraft (LSA). The Mumbai girl landed at Iqaluit Airport.

Explanation: Doordarshan has launched an online souvenir store for its viewers on Amazon India so that one can easily access it. A. Surya Prakash Chairman, Prasar Bharati launched DD souvenir store on Amazon India.

Explanation: Bad loan recoveries in the last fiscal effected through the Insolvency and Bankruptcy Code (IBC) route was at Rs 70,000 crore, posting a recovery rate of 43 per cent, and was twice the Rs 35,500 crore recovered through previous resolution mechanisms like the Debt Recovery Tribunal and Lok Adalat, as per a report by ratings firm Crisil.

Explanation: Paytm has introduced a new credit, called Paytm First Card, in partnership with Citibank. The company is touting that the new card will offer customers 1 percent of universal cashback along with zero restrictions on earning categories. This will be auto-credited to the card every month.

Explanation: Ace Special Forces operative and Sri Lanka war veteran Major General AK Dhingra has been appointed as the first head of country’s first tri-services Special Operations Division comprising commandos from all three services.

Explanation: Former Supreme Court judge Justice A.K. Sikri has been appointed Chairperson of the News Broadcasting Standards Authority (NBSA). He will assume office on May 26 and succeed Justice R.V. Raveendran who completes his term on May 25.

Explanation: Actor Anil Kapoor will be felicitated by the Council of European Chambers of Commerce (CEUCC) in India and an European Union delegation as part of the ‘Europe Day’ celebrations in Mumbai. Europe Day is celebrated every year on May 9 to mark the formation of the European Union (EU).

Explanation: May 15 was decided to be celebrated as International Family Day by the United Nations General Assembly in 1993. The theme for International Day of Families 2019 is “Families and Climate Action: Focus on SDG13”.

Explanation: The Indian economy will grow at 7 per cent range in the current fiscal powered by the effects of the strong structural reforms such as bankruptcy laws, Goods and Services Tax (GST), crackdown on shell companies and the fiscal prudence undertaken in the last five years, Chief Economic Advisor (CEA) Krishnamurthy V. Subramanian said recently.