ALL EXAM QUIZ 16.05.2024

Explanation:

• A top government official said that the ban on the world's largest crypto exchange, Binance, will be lifted soon by the Financial Intelligence Unit-India (FIU-India).
• In March, the ban on another offshore crypto exchange, KuCoin, was lifted after FIU-India imposed a fine of Rs 34.5 lakh.
• In addition, FIU has also approved the application of offshore cryptocurrency exchanges Binance, and KuCoin to register as Virtual Asset Service Providers (VASPs) to trade in India.
• In January, nine offshore cryptocurrency platforms including Binance, KuCoin, Huobi, OKEx, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfinex—were banned from operating through websites and mobile applications in India.

Explanation:

• Russian President Vladimir Putin has reappointed Mikhail Mishustin as Prime Minister.
• On May 10, the State Duma (lower house of the Parliament of Russia) approved Mishustin as Prime Minister for a second term.
• Mishustin’s reappointment was expected by political observers.
• He has been credited with keeping the Russian economy stable even after the Covid-19 pandemic and the Ukraine War.
• Mishustin has been serving as Prime Minister of Russia since January 16, 2020.
• Before becoming Prime Minister, he was the head of the Federal Taxation Service of Russia.
• In Russia, the prime minister holds the office at the president's discretion. The term of the prime minister is 6 years.

Explanation:

• Malabar Gold & Diamonds has been awarded the prestigious Legal Era-Indian Legal Award for excellence in compliance and risk management.
• The company is renowned as the sixth largest jewelery group globally and is ranked 19th in Deloitte's global ranking of luxury products.

Malabar Gold and Diamonds

• Malabar Gold & Diamonds is an Indian jewelery conglomerate headquartered in Kozhikode, Kerala, India. The company was founded in 1993 by M. P. Ahmed.
• As of May 2023, it has more than 330 showrooms in 11 countries, making it one of the largest chains of jewelery retailers in the world.
• The company also has a network of luxury watch boutiques across India, operating under the name Malabar Watches.

Explanation:

• DRDO and IIT Bhubaneswar will collaborate for AI-driven surveillance and other projects.
• During a meeting between DRDO and IIT Bhubaneswar officials, nine sanctioned projects of the Electronics and Communication Systems (ECS) cluster were handed over to IIT Bhubaneswar.
• Seven other projects are in process to be sanctioned with Rs 18 crore funding.
• IIT Bhubaneswar will work on the sanctioned project.
• This would benefit in electronics warfare, Artificial Intelligence (AI)-driven surveillance, power systems, radar systems etc.
• The collaboration is expected to improve the sustainability of defence research programmes.

Explanation:

• Veteran New Zealand cricket player Colin Munro has announced his retirement from international cricket, ending his 123-match career with the Black Caps. The New Zealand cricket team is also called the Black Caps.
• Munro announced his retirement after he was not chosen in the New Zealand squad for the 9th ICC Men’s T 20 World Cup, which will be held in the West Indies and the United States of America from June 1 to 29, 2024.

Explanation:

• The Japanese men’s hockey team defeated Pakistan to claim its first Sultan Azlan Shah Trophy. In the final, the match ended at 2-2 after the end of the normal.In the penalty shoot-out, Japan defeated Pakistan by 4-1.
• Six teams, Japan, Pakistan, Canada, South Korea, New Zealand, and the host team, Malaysia, participated in the 2024 event.
• Japan won the trophy, with Pakistan in second place. Malaysia was in third place, followed by New Zealand, South Korea, and Canada in last place.

Explanation:

• India participated in the 19th Session of the United Nations Forum on Forests in New York.
• The 19th Session of the United Nations Forum on Forests (UNFF) was organized from May 6th to 10th May 2024.
• In this session, India highlighted significant advancements in forest conservation and sustainable forest management.
• Between 2010 and 2020, India ranks third in the net gain in average annual forest area.
• India also shared information about the ‘Green Credit Program’, which is designed to incentivize entities to take up tree plantation and restoration of degraded forest lands.
• India also highlighted the creation of the International Big Cat Alliance at this session.
• In October 2023, India Led Initiative under UNFF was hosted at Dehradun. Representatives from 40 countries and 20 international organizations have participated in this initiative.
• The Ministry of India hosted a side event on ‘Principles and Strategies for Landscape Integrated Fire Management through Collaborative Governance’.

Explanation:

• UAE-India CEPA Council (UICC) and the Indian Chamber of Commerce (ICC) signed an MoU.
• To enhance economic and trade relations, the UAE-India CEPA Council (UICC) and the Indian Chamber of Commerce (ICC) have signed a Memorandum of Understanding (MoU).
• The main aim is to promote awareness of the UAE-India bilateral economic partnership and the benefits of the UAE-India CEPA.
• The MoU established a comprehensive collaboration between the UICC and the ICC, focusing on public promotion, and increasing awareness.
• Both organizations will engage in dialogue, and information sharing, and host joint events.
• This partnership will boost trade volumes and bring the benefits of favourable trade policies to enterprises.

Explanation:

• Sri Lanka has recently once again extended the deadline for visa free entry of Indians.
• In this initiative of Sri Lanka, citizens of India, China, Russia, Japan, Malaysia, Thailand and Indonesia can travel to Sri Lanka for 30 days without visa.
• The scheme was launched in October with the aim of attracting more tourists.