Weekly CA Quiz: May 2019 4th week with PDF

Explanation: Bharti AXA Life Insurance, a private life insurer, has been conferred with the FICCI Claims Excellence Award. The recognition comes for its customer-friendly claims services in the life insurance sector.

Explanation: In Andhra Pradesh, YSR Congress Chief Jagan Mohan Reddy will be sworn in as chief minister of Andhra Pradesh on 30th of this month at Vijayawada. Mr Jagan Mohan Reddy has announced this following his party achieving inching towards a landslide victory in the legislative elections for Andhra Pradesh Legislative assembly held on April 11th.

Explanation: The Securities and Exchange Board of India (SEBI) and the Insurance Regulatory and Development Authority (IRDAI) have announced initiatives to encourage tech startups, especially fintech, by making data and systems available to them through the regulatory sandbox (RS).

Explanation: The World Health Organization has certified Algeria and Argentina as malaria-free, following three consecutive years where no new cases of the deadly disease have been reported.

Explanation: The 5th Smart Cities India 2019 expo, including Transport India, Solar India, Buildings India and Water India expos, was inaugurated by Durga Shanker Mishra, Secretary, Ministry of Housing and Urban Affairs, Government of India, at the Pragati Maidan, New Delhi.

Explanation: Indian contemporary artist Nalini Malani has won the Joan Miro Prize for 2019, the Barcelona-based Fundacio Joan Miro has announced. One of the most prestigious contemporary art awards in the world, it recognises present-day work by artists who show the same spirit of exploration, innovation, commitment and freedom that characterised Spanish painter and sculptor Joan Miro’s life and work.

Explanation: British Prime Minister Theresa May announced resignation from her post. She will resign on 7 June. Her announcement triggers the start of a contest to replace her as Conservative leader and Prime Minister.

Explanation: Six-time world champion Mary Kom in the 51 kg category clinched the second edition of the India Open Boxing Tournament at the Karmabir Nabin Chandra Bordoloi AC Indoor Stadium in Guwahati, Assam

Explanation: Corporation Bank has launched ‘Corp SME Suvidha’, a product for GST-registered MSMEs. The product has been designed as part of the bank’s efforts to provide the best products to the MSME sector.

Explanation: Priyanka Mohite, the 26-year-old Satara based mountaineer, has become the first Indian woman to successfully scale Mount Makalu — the fifth-highest mountain in the world at 8,481 metres.

Explanation: Surya Prakash, a well-known painter from Hyderabad, who was one of the first artists to put the city on the national map, passed away following a heart attack. He was 78.

Explanation: Patanjali Ayurved Limited’s Managing Director, Acharya Balkrishna received the ‘UNSDG 10 Most Influential People in Healthcare Award’ on behalf of Patanjali Group of Institutions in Geneva.

Explanation: Badminton Association of India (BAI) President Himanta Biswa Sarma has been elected the Vice President of the Badminton Asia Council (BAC).

Explanation: Germany’s Alexander Zverev captured his first title of the season with a see-saw 6-3, 3-6, 7-6 (10-8) victory in Geneva Open final over Chile’s Nicolas Jarry, who had two match points but came up just short.

Explanation: Apurvi Chandela won the gold in women’s 10m air rifle at the ISSF World Cup in Munich. The 26-year-old shot 251 points in the final to pip China’s Luyao Wang’s score of 250.8. This was Apurvi’s second gold of the year, having won the first at the Delhi World Cup in February.

Explanation: Global software major Infosys has completed the acquisition of majority (75 per cent) equity stake in the Stater N.V. subsidiary of the Netherlands-based ABN AMRO Bank.

Explanation: Veeru Devgan, one of the most celebrated action and stunts directors in Bollywood, has passed away in Mumbai. He choreographed action scenes in more than 80 films. The father of Bollywood actor Ajay Devgn, Veeru also directed a film with Ajay in the lead, Hindustan Ki Kasam. His other son Anil Devgan is a director.

Explanation: Debut novelist Guy Gunaratne has won the £30,000 Swansea University International Dylan Thomas prize for In Our Mad and Furious City, an “urgent, timely and compelling” account of life on a London housing estate during city-wide riots.

Explanation: Indonesia’s Anton Aditya Subowo was re-elected as the President of Badminton Asia. As a result, he will continue as the President for another four years.

Explanation: Sikkim Krantikari Morcha (SKM) president Prem Singh Tamang, popularly known as PS Golay took oath as the Chief Minister of Sikkim. He was administered the oath by Governor Ganga Prasad at Paljor Stadium in Gangtok.

Explanation: China won the badminton world mixed-team championship, Sudirman Cup 2019 in Nanning, China. They beat Japan in men’s doubles, women’s singles and men’s singles to clinch the title for the 11th time.

Explanation: Lewis Hamilton won the Monaco Grand Prix 2019 to extend his championship lead over Mercedes teammate Valtteri Bottas.

Explanation: India’s Mahesh Mangaonkar defeated Spain’s Bernat Jaume, the third seed, in the final to clinch the Sekisui Open title for the second time in his career in Kriens, Switzerland. This was Mahesh’s eighth PSA title.

Explanation: India Ratings and Research (Ind-Ra) said that it expects India’s GDP growth rate during 2018-19 to be 6.9 per cent as against the advance estimate of 7 per cent.

Explanation: Russia launched the world’s largest nuclear-powered icebreaker, which would open up commercial opportunities for the country in the northern sea route. With the ceremonial launch of ‘Ural’, Russia’s Rosatom Atomic Energy Corporation, which is the main equipment supplier for India’s Kudankulam nuclear power plant, has completed another step towards ensuring all-year round navigability of the Northern sea route.

Explanation: A unique ‘Tree Ambulance’ service – an initiative to provide care to trees besides spread green cover, was launched by Vice President M. Venkaiah Naidu in Chennai.

Explanation: Malawian President Peter Mutharika has been narrowly re-elected for a second five-year term following a hotly-contested vote, according to the country’s electoral commission.

Explanation: Rahi Sarnobat clinched gold in the women’s 25m pistol at the season’s third International Shooting Sport Federation World Cup in Munich, Germany. By this win, she sealed an Olympic quota place for India in style.

Explanation: The country’s economic growth in the fourth quarter ended March 2019 is expected to moderate to 6.1-5.9 per cent, which could pull down growth rate for the entire fiscal 2018-19 to below 7 per cent, according to a report by SBI.

Explanation: Srei Equipment Finance, a wholly-owned subsidiary of Srei Infrastructure Finance, has tied-up with Oriental Bank of Commerce to offer loans for purchase of equipment under a co-lending arrangement.

Explanation: Indian Overseas Bank (IOB) has announced that it has launched ‘Bank on Wheels’ facility in 14 of its lead districts in Tamil Nadu and Kerala, besides Vijayawada. The mobile van facility will enable the public, especially senior citizens, conveniently get door-step banking facility available at identified locations of the lead districts.

Explanation: India has been elected to the Executive Board of the first UN-Habitat Assembly, announced by Ministry of Housing and Urban Affairs. India has been elected to the Executive Board of the first UN-Habitat Assembly at the Plenary Session of the Assembly being held in Nairobi.

Explanation: Assam’s noted artist and former senior art adviser and deputy director of state Directorate of Information and Public Relations, Benu Misra has passed away in Guwahati.

Explanation: Air Chief Marshal Birender Singh Dhanoa received the baton of Chairman, Chiefs of Staff Committee (COSC) from outgoing Chairman COSC and Chief of the Naval Staff Admiral Sunil Lanba.

Explanation: Muhammadu Buhari has been sworn in for a second term as Nigeria’s president, following a campaign that focused on tackling security threats and rooting out corruption.

Explanation: BJP leader Pema Khandu was sworn-in as the Chief Minister of Arunachal Pradesh. Khandu along with 11 other cabinet ministers were administered the oath of office and secrecy by Governor Brigadier (retd) B.D Mishra.

Explanation: The Reserve Bank of India (RBI) announced the setting-up of a committee to work for the development of housing finance securitisation market in the country under the chairmanship of Harsh Vardhan, Senior Advisor with Bain & Co.

Explanation: The Reserve Bank of India (RBI) constituted a task force on development of secondary market for corporate loans.

Explanation: India has moved up one place to rank 43rd most competitive economy in the world on the back of its robust economic growth, a large labour force and its huge market size, while Singapore has toppled the US to grab the top position in the 2019 edition of the IMD World Competitiveness Rankings.

Explanation: Sri Lanka will host the annual meeting of the Asian Development Bank (ADB) in Colombo in May 2021 and it will attract over 3,000 delegates.

Explanation: Indore’s Devi Ahilya Bai Holkar airport has been declared as an international airport.

Explanation: A 41-year-old orangutan at Odisha’s Nandankanan Zoological Park died following a prolonged illness. ”Binny”, the country’s lone orangutan passed away due to old-age related ailments followed by respiratory tract infection.

Explanation: Cheered by thousands of supporters, Y.S. Jagan Mohan Reddy took oath as the Chief Minister of Andhra Pradesh.

Explanation: The Armed Forces Tribunal cleared the way for Vice Admiral Karambir Singh to become the next Navy Chief, while it deferred for four weeks the matter of Vice Admiral Bimal Verma which seeks to quash Singh’s appointment.

Explanation: James Marape, a former finance minister and critic of a major global gas development deal, has been elected by parliament as the prime minister of Papua New Guinea.

Explanation: Indian writer Annie Zaidi was announced as the 2019 winner of the USD 100,000 Nine Dots Prize, a prestigious book prize created to award innovative thinking that addresses contemporary issues around the world.

Explanation: Former American basketball player, Lamar Odom released a new book titled ‘Darkness to light’, which reportedly will reveal dark secrets of his life.

Explanation: Every 29th May, the World Gastroenterology Organisation (WGO), in collaboration with the WGO Foundation (WGOF), celebrates World Digestive Health Day (WDHD) and initiates a yearlong, worldwide, public health campaign. The theme for the World Digestive Health Day 2019 campaign is “Early Diagnosis and Treatment of GI Cancer.”

Explanation: Every year, on 31st May, the World Health Organization (WHO) and global partners celebrate World No Tobacco Day (WNTD). The annual campaign is an opportunity to raise awareness on the harmful and deadly effects of tobacco use and second-hand smoke exposure, and to discourage the use of tobacco in any form.The focus of World No Tobacco Day 2019 is on “tobacco and lung health.”

Explanation: Former IFS officer S. Jaishankar created history as he became the first former Foreign Secretary to become External Affairs Minister.

Explanation: As per the data released by the Central Statistics Office (CSO), the economic growth rate for the financial year 2018-19 stood at a five-year low of 6.8 per cent.

Explanation: The country’s median GDP is forecast at 7.10 percent for Financial Year 2020 and 7.20 percent for Financial Year 2021. The industry body FICCI’s economic outlook survey stated that the minimum and maximum growth estimate stood at 6.80 per 0cent and 7.3 percent for 2019-20.

Explanation: In an effort to raise awareness about science and environment through films, the 10th National Science Film Festival of India (NSFFI) will be organised in Tripura on January and February 2020.

Explanation: The SWIFT India and South Asia Conference held at the St Regis Mumbai saw the participation of 500 delegates representing financial institutions, regulators, market infrastructure experts, multinational corporations, and other industry professionals, to discuss the most pertinent issues concerning the nation’s financial market.

Explanation: In its first meeting, the Union Cabinet chaired by Prime Minister Narendra Modi decided to give monthly pension of Rs 3,000 to all small and marginal farmers across the country, small traders, businessmen, and shopkeepers after they attain the age of 60 years.