Weekly CA Quiz: May 2020 1st week

 Finance minister Nirmala Sitharaman has announced a slew of measures to deal with the economic distress caused due to the coronavirus pandemic and the subsequent lockdown announced to deal with the situation.

Tamil Nadu Chief Minister Edappadi Palaniswamy announced that Tamil Nadu’s newest, 38th district will be formed in Mayiladuthurai.

Odisha Chief Minister Naveen Patnaik launched Mo Jeeban programme and urged people to take a pledge to stay indoors.

 Saudi Arabia’s King Salman chaired an emergency virtual summit of G20 leaders, including Prime Minister Narendra Modi, to advance the coordinated response to the novel coronavirus pandemic that has claimed nearly 19,000 lives and upended life and businesses across the globe.

The International Telecommunication Union (ITU) launched a new platform “Global Network Resiliency Platform” to help global networks under increasing strain and facing rising demand during the COVID-19 crisis to remain “safer, stronger and more connected”.

 The U.S. Centers for Disease Control and Prevention has introduced an AI bot called ‘Clara’ to help people assess potential symptoms of COVID-19.

The world’s 20 most industrialised countries will likely suffer a recession this year because of the COVID-19 pandemic, the financial ratings agency Moody’s forecast.

 Renowned footballer and coach Abdul Latif passed away after prolonged illness. He was 72.

Nimmi, the star of 1950s and ’60s Hindi movies such as ‘Aan’, ‘Barsaat’ and ‘Deedar’, died on Wednesday after prolonged illness. She was 88.

 Indore, India’s cleanest city, has opted to deploy drones to sprinkle chemicals in a bid to sanitise it against the coronavirus outbreak.

 To inculcate reading habit among students, the ‘Reading Mission- Haryana’ has been initiated by the Haryana state government.

The International Monetary Fund has launched a policy tracker to track the policy responses by different governments to combat the COVID-19 pandemic.

The Reserve Bank of India offered Rs 11,772 crore at a cut-off rate of 5.16 per cent to banks through a 12-day variable rate repo auction.

Reserve Bank of India Governor Shaktikanta Das announced that the repo rate has been reduced by 75 basis points to 4.4 per cent. The reserve repo rate has been reduced by 90 basis points to 4 per cent.

The severe dent in the economic activity due to the coronavirus pandemic led rating agency Crisil to sharply cut its growth estimate for 2020-21 to 3.5 per cent.

 The test of Babur-2 missile from Sonmiani range of Balochistan has completely failed.

 Artist and architect Satish Gujral, renowned for his versatility across different mediums, has died in New Delhi. He was 94.

Moody’s Investors Service slashed its estimate of India’s GDP growth during 2020 calendar year to 2.5 per cent, from an earlier estimate of 5.3 per cent and said the coronavirus pandemic will cause unprecedented shock to the global economy.

 Indian Institute of Technology, Gandhinagar (IITGN) has launched Project Isaac to engage its students in creative projects to enhance their critical skills while they are confined to their homes because of Corona virus.

 Launching Operation Namaste to combat the spread of COVID-19, Army Chief General MM Naravane said it was his force’s duty to help the government in its fight against the pandemic.

Despite the Reserve Bank of India’s (RBI) massive actions to spur the economy, India’s gross domestic product (GDP) is likely to contract by 4.5 per cent in the April-June 2020 quarter and will rise by only 2 per cent in 2020-21 on the coronavirus impact, according to domestic rating agency Icra.

The country’s economic growth is likely to fall sharply to 2.6 per cent in 2020-21 due to lockdown amid the coronavirus pandemic.

 In a first-of-its-kind step, the government’s flagship fitness movement, Fit India, has partnered with Bollywood actor and fitness icon Shilpa Shetty Kundra to provide her premium 21-Day Weight Loss Programme, including diet tips, free of cost on the Shilpa Shetty App (SS App), during the 21-day lockdown owing to Covid 19.

Renowned chef Floyd Cardoz, who ran the successful ‘Bombay Canteen’, ‘O Pedro’ and ‘Bombay Sweet Shop’ in Mumbai and was the magician behind New York’s ‘Tabla’, passed away due to complications from the coronavirus.

Former Union Minister and Samajwadi Party leader Beni Prasad Verma passed away. He was 79.

 Karnataka government launched a food helpline number –155214– for the labourers who have been affected due to lockdown imposed by the central government to prevent the spread of the coronavirus.

UP Chief Minister Yogi Adityanath has set up “Team-11″ comprising of as many inter-departmental committees to fight the coronavirus spread and its multi-lateral fallouts on multiple fronts ranging from ensuring medicare to victims to the supply of essentials and tackle long marches of jobless workers back home.

The Rajasthan government on Friday increased the dearness allowance for its employees to 17 per cent from the existing 12 per cent.

North Macedonia officially joined NATO, becoming the 30th member of the alliance after resolving a long-running name row with Greece.

The Centre has released Rs 4,431 crore to clear pending wages under the rural job scheme MGNREGA and will pay all dues by April 10, a day after the government announced increase in wages under the programme.

The Centre has released Rs 4,431 crore to clear pending wages under the rural job scheme MGNREGA and will pay all dues by April 10, a day after the government announced increase in wages under the programme.

In a bid to maintain stability in the financial system in the wake of coronavirus pandemic, Reserve Bank of India (RBI) governor Shaktikanta Das said that Rs 3.74 lakh crore liquidity will be injected into system through various measures.

Chennai Port Trust (ChPT) acquired 67% stake of its subsidiary Kamarajar Port Ltd. (KPL) for ₹2,383 crore.

 The Government of India has launched a coronavirus risk-tracking app called ‘Corona Kavach.’ Jointly developed by the Union Ministry of Electronics and Information Technology and the Union Ministry of Health and Family Welfare.

 The Government of India has launched a coronavirus risk-tracking app called ‘Corona Kavach.’ Jointly developed by the Union Ministry of Electronics and Information Technology and the Union Ministry of Health and Family Welfare.

Multilateral institution Asian Development Bank (ADB) announced a USD 100 million funding for the Indian infrastructure sector through the government-promoted NIIF.

Multilateral institution Asian Development Bank (ADB) announced a USD 100 million funding for the Indian infrastructure sector through the government-promoted NIIF.

Fitch Solutions slashed its estimate for India’s GDP growth in the fiscal starting April 1 to 4.6 per cent from 5.4 per cent due to weaker private consumption and contraction in investment amid coronavirus outbreak, costing economies around the globe.

Domestic credit rating agency India Ratings (Ind-Ra) cut its FY21 growth forecast to 3.6 per cent amid coronavirus-related worries.

A team at IIT Bombay along with some professional and experienced alumni claimed to have built a mobile app named ‘CORONTINE.

Noted Tamil folk singer and actress Paravai Muniyamma, who shot to fame with her performance in actor Vikram’s ‘Dhool’, passed away in Madurai. She was 83.

Each year, we commemorate World Tuberculosis (TB) Day on March 24 to raise public awareness about the devastating health, social and economic consequences of TB, and to step up efforts to end the global TB epidemic.According to the WHO, the theme for World Tuberculosis Day 2020 is the motto, “It’s time”.

Asia’s largest film tourism event – 8th India International Film Tourism Conclave (IIFTC) honored the cult filmmaker – Zoya Akhter with IIFTC Tourism Impact Award 2020 for her outstanding contribution to the world tourism through her cinema.

Shivraj Singh Chouhan returned as chief minister of Madhya Pradesh for the fourth time, over 15 months after his government was voted out of power.

First Made in India Test Kit to diagnose COVID-19 has got the commercial approval by the Central Drugs Standard Control Organisation (CDSCO).

The Reserve Bank of India decided to infuse additional liquidity with a second tranche of bond purchase worth ₹30,000 crores amid the Covid-19 pandemic.

Karur Vysya Bank has launched Enkasu, a pre-paid card in Karur. In response to the digital initiative of the Government of India, the bank undertook a Quit Cash Movement in Karur – a movement to reduce the usage of cash in the district of Karur.

The UK has been confirmed as the first co-chair of the governing council of India-led global Coalition for Disaster Resilient Infrastructure (CDRI).

U.S. Marines and Emirati forces held a major US Marines and UAE Emirati forces exercise Native Fury at Abu Dhabi.

The Reserve Bank said bank credit to registered NBFCs towards agriculture, MSEs and housing sector up to prescribed limits will be treated as priority sector loans during the next fiscal starting April.

The National Bank for Agriculture and Rural Development (NABARD) has extended financial support up to Rs 42,313 crore towards building rural infrastructure in the ongoing fiscal year.

The Cabinet Committee on Economic Affairs (CCEA) approved a Rs 1,340-crore recapitalisation plan for regional rural banks (RRB).The recapitalization of RRBs will improve their Capital to Risk Weighted Assets Ratio.

The Centre has banned the export of Hydroxychloroquine with immediate effect in the wake of novel coronavirus outbreak.

Sameer Aggarwal has been appointed as CEO of Walmart India. He will report to Dirk Van Den Berghe, Executive Vice-President and Regional CEO of Asia and Global Sourcing, Walmart.

The United Nations’ (UN) International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade is on March 25 each year.