QUES 1 . Consider the following statements with respect to Prevention of Money Laundering Act (PMLA):
1 . The PMLA was enacted in response to India’s global commitment (including Vienna Convention) to combat money laundering.
2 . Enforcement Directorate has been mandated to enforce PMLA.
Which among the above statements is/are correct?
(a) 1 only
(b) 2 only
(c) 1 & 2 both
(d) None of the above
Answer: (c)
Explanation:
Why in news?
To further tighten its control of practising accountants, the Centre has brought within the ambit of the Prevention of Money Laundering Act (PMLA) their “financial transactions” such as operating and managing their client firms and trusts, and buying and selling business entities.
Under the new rule, chartered accountants, company secretaries, and cost and works accountants carrying out such transactions (on behalf of their clients) will now be required to go through the Know Your Company (KYC) process before commencing work.
This implies accountants are now reporting entities if they are managing their clients’ money.
Under the PMLA, every reporting entity is required to maintain a record of all transactions and furnish them to financial intelligence units (FIUs). The move aims at curbing fraudulent practices by which accountants allegedly help their clients to launder money.
QUES 2 . Consider the following statements with respect to Respiratory syncytial virus (RSV):
1 . Respiratory syncytial virus (RSV) is a virus that causes severe respiratory illness, especially in young adults.
2 . RSV spreads through respiratory secretions, such as from coughing or sneezing, or by touching contaminated surfaces or objects.
Which among the above statements is/are correct?
(a) 1 only
(b) 2 only
(c) 1 & 2 both
(d) None of the above
Answer: (b)
Explanation:
Why in news?
The US Food and Drug Administration (FDA) has approved GSK’s vaccine against respiratory syncytial virus (RSV) for use in people aged 60 years and older. This is the first RSV vaccine to gain approval anywhere in the world.
RSV usually causes mild symptoms similar to those that arise during a common cold. But for older people, it can be deadly. Like older adults, babies are at high risk from RSV.
RSV spreads through respiratory secretions, such as from coughing or sneezing, or by touching contaminated surfaces or objects.
QUES 3 . Consider the following statements with respect to Washington Declaration:
1 . It was signed between the US and South Korea on the occasion of the 70th anniversary of U.S.-South Korea bilateral relations.
2 . Its purpose is to increase the bilateral trade between the two nations.
Which among the above statements is/are correct?
(a) 1 only
(b) 2 only
(c) 1 & 2 both
(d) None of the above
Answer: (a)
Explanation:
Why in news?
Recently, South Korean President arrived in the U.S. to commemorate the 70th anniversary of U.S.-South Korea bilateral relations. A highlight of the visit was the signing of the “Washington Declaration” as a nuclear deterrence strategy.
What is Washington Declaration?
The Washington Declaration is an agreement signed between the United States and South Korea, outlining a joint nuclear deterrence strategy.
What does the Washington Declaration contains?
According to the declaration:
A US nuclear-armed ballistic missile submarine (SSBN)would be deployed in the Korean peninsula.
A joint Nuclear Consultative Group would be formed to formulate principles of joint response tactics.
South Korea would receive inteligence from the US regarding nuclear advancements.
The US will strengthen South Korea’s nuclear deterrence capabilities through joint military training programs and an annual intergovernmental simulation.
The declaration reaffirmed the non-proliferation Treaty implying that South Korea would not venture into the creation of its own independent nuclear capabilities and would instead focus on deterrence measures through an alliance-based approach.
It also mandates the US President as the only ‘sole authority’ to use the nuclear arsenal of the US in the event of a nuclear confrontation.
QUES 4 . Consider the following statements with respect to Kaladan Multimodal Transit Transport Project (KMTTP):
1 . It connects the eastern Indian seaport of Kolkata with the Sittwe seaport in Rakhine State, Myanmar by sea.
2 . It ultimately connects by road to Tripura state in Northeast India.
Which among the above statements is/are correct?
(a) 1 only
(b) 2 only
(c) 1 & 2 both
(d) None of the above
Answer: (c)
Explanation:
Why in news?
India has officially begun the operation of the Sittwe Port in Myanmar by flagging off a vessel containing 1,000 metric tonnes of cement from the Syama Prasad Mookerjee Port in Kolkata.
Kaladan Multimodal Transit Transport Project (KMTTP)
Kaladan Multimodal Transit Transport Project (KMTTP) connects the eastern Indian seaport of Kolkata with the Sittwe seaport in Rakhine State, Myanmar by sea. In Myanmar, it will then link the Sittwe seaport to Paletwa in Chin State via the Kaladan river boat route, and then from Paletwa by road to Mizoram state in Northeast India.
It will reduce distance from Kolkata to Sittwe by approximately 1328 km; reduce the need to transport goods through the narrow Siliguri corridor and create an alternative route to connect northeast and mainland India.
QUES 5 . Consider the following statements with respect to Cyclone Mocha:
1 . It is a tropical cyclone developing in Bay of Bengal.
2 . The name was proposed by Yemen after the Red Sea port city.
Which of the above statements is/are correct?
(a) 1 only
(b) 2 only
(c) 1 & 2 both
(d) None of the above
Answer: (c)
Explanation:
Why in news?
The Indian Meteorological Department has been closely tracking a cyclonic storm that is forming over the Bay of Bengal and is likely to make landfall between 8th and 11th May. This will be the first cyclone to form this year and it will be called Cyclone Mocha.
The name was proposed by Yemen after the Red Sea port city.
