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Current Affairs Quiz: 31 May 2022

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AffairsCloud brings you the complete and important daily Current Affairs 31 May 2022 Quiz to achieve more marks in Banking, Insurance, UPSC, SSC, CLAT, Railways and all other competitive Exams. We have prepared the current affairs quiz question from our daily current affairs 2022 updates.

Our Current Affairs March 2022 events will help you to get more marks in Banking, Insurance, SSC, Railways, UPSC, CLAT and all State Government Exams. Also, try our Current Affairs Quiz.

    1. North India’s first Industrial Biotech Park was recently (in May’22) inaugurated in _______ district of Jammu and Kashmir (J&K).
      1) Kupwara
      2) Reasi
      3) Udhampur
      4) Kathua
      5) Poonch
      Answer-4) Kathua
      Union Territory (UT) of Jammu and Kashmir (J&K) Lieutenant Governor, Manoj Sinha and Jitendra Singh, Minister of State for Science and Technology and Earth Sciences, inaugurated North India’s first Industrial Biotech Park at Ghatti in the Kathua District of UT of J&K. The Biotech Park will act as a hub for incubation of new ideas.
      i. The project will be implemented by the Council Of Scientific And Industrial Research – Indian Institute of Integrative Medicine, (CSIR-IIIM) Jammu, UT of J&K.

    2. In May 2022, the Indian government announced the formation of the Cotton Council of India under the chairmanship of whom?
      1) Suresh Bhai Kotak
      2) Piyush Goyal
      3) Chirag Trivedi
      4) Raghav Kumar
      5) Naishadh Parikh
      Answer-1) Suresh Bhai Kotak
      The Government of India(GoI) has announced the formation of the Cotton Council of India under the Chairmanship of renowned veteran cotton man Suresh Bhai Kotak.
      i. The committee will have representatives from several Ministries such as Textiles, Agriculture, Commerce, and Finance along with representatives from Cotton Corporation of India and Cotton Research Institute.

    3. Name the savings life insurance plan that was recently (in May’22) launched by the Life Insurance Corporation of India (LIC).
      1) Bima Jyoti
      2) Jeevan Lakshya
      3) Aadhaar Stambh
      4) Bima Ratna
      5) Jeevan Umang
      Answer-4) Bima Ratna
      The Life Insurance Corporation of India (LIC), India’s largest insurer, has launched “Bima Ratna” – a non-linked, non-participating, individual, savings life insurance plan. The new plan, which is aimed at the domestic market, provides both protection and savings.
      i. The key features of the plan include Death Benefit, Survival Benefit, Maturity Benefit, Guaranteed Additions, Settlement Options, Grace Period and Revival solutions among other things.

    4. Which of the following currencies’ weightage was recently (in May ’22) increased by the International Monetary Fund (IMF) in Special Drawing Rights (SDR)?
      1) Euro
      2) Dollar
      3) Renminbi
      4) Both 1 & 2
      5) Both 2 & 3
      Answer- 5) Both 2 & 3
      The International Monetary Fund(IMF) has increased its weighting of the United States(US) Dollar and Chinese yuan (also known as renminbi) in its review of the currencies that make up the valuation of its Special Drawing Rights (SDR), an international reserve asset. This marks the first review since the yuan joined the basket of currencies in 2016.
      i. The weighting of the United States Dollar increased to 43.38% from 41.73% and the weighting of the yuan increased to 12.28% from 10.92%.
      ii. The weighing of the Euro (from 30.93% to 29.31%), Japanese Yen (8.33% to 7.59%) and the British pound (8.09% to 7.44%) has decreased.
      iii. The weighting was determined by the executive board based on the trade and financial market developments from 2017 to 2021.

    5. As per the Ministry of Commerce and Industry, which country recently (in May’22) became India’s top trading partner in 2021-22 by surpassing China?
      1) United Arab Emirates
      2) Saudi Arabia
      3) Singapore
      4) Russia
      5) United States
      Answer-5) United States
      The United States (US) has surpassed China to become India’s top trading partner in 2021-22, showing the growth of India-US economic ties.
      i. According to data from the Ministry of Commerce and Industry, bilateral trade between the United States and India reached USD 119.42 billion in 2021-22, up from USD 80.51 billion in 2020-21.
      ii. From 2013–14 to 2017–18, and again in 2020–21, China was India’s most important trading partner. Prior to China, the United Arab Emirates (UAE) was India’s largest trading partner.
      iii. In 2021-22, UAE is India’s third largest trading partner with USD 72.9 billion followed by Saudi Arabia (USD 42.85 billion) as 4th, Iraq (USD 34.33 billion) as 5th, & Singapore (USD 30 billion) as its 6th largest trading partner.

    6. Which country tops the 7th edition of the Forbes 30 Under 30 Asia List 2022 released in May 2022?
      1) China
      2) India
      3) Japan
      4) Australia
      5) Singapore
      Answer-2) India
      Forbes magazine has released the 7th edition of the Forbes 30 Under 30 Asia List 2022, featuring 10 categories each honouring 30 individuals under the age of 30. The list was edited by Rana Wehbe Watson.
      i. The honourees on the list represent 22 countries and territories across the Asia-Pacific region. India tops the list in terms of the number of entries with 61, followed by Singapore (34), Japan (33), Australia (32), Indonesia (30) and China (28).
      ii. The average age of the 2022 list is 26.8 and the youngest honouree on the list is 14-year old Japanese Olympics skateboarding gold-medalist Momiji Nishiya.

    7. Name the Indian boxer who was recently (in May ’22) elected as the Chairman and a voting member of the International Boxing Association (IBA)’s Athletes Committee.
      1) Vijender Singh
      2) Amit Panghal
      3) Mirabai Chanu
      4) Lovlina Borgohain
      5) Shiva Thapa
      Answer-4) Lovlina Borgohain
      As per the International Boxing Association (IBA), India’s Tokyo 2020 Olympics Bronze medallist Lovlina Borgohain has been selected as the Chairman and a voting member on the Board of Directors (BoD) for the IBA’s Athletes Committee.
      i. Shiva Thapa (IND) was appointed as vice chair of the IBA’s Athletes Committee.
      ii. The term of office for the newly elected Athletes’ Committee will be until the World Boxing Championships in 2025.

    8. Name the personality from India who was recently (in May ’22) appointed as an external member of the Monetary Policy Committee (MPC) of the Bank of England.
      1) Swati Dhingra
      2) Vinita Gupta
      3) Sirisha Bandla
      4) Aruna Jayanthi
      5) Harpreet Chandi
      Answer-1) Swati Dhingra
      The United Kingdom(UK) Based Indian origin academic Dr Swati Dhingra, an Associate Professor of Economics at the London School of Economics (LSE), was appointed as an external member of the Monetary Policy Committee (MPC), the interest rate-setting committee of the Bank of England.
      i. She becomes the first Indian origin woman to be appointed as a member of the Bank of England.
      ii. She will be joining the Bank of England’s MPC for a 3-year term on 9th August 2022 and she will replace the incumbent external member, Michael Saunders, who has been on the MPC since August 2016.

    9. Name the Indian Navy Ships (INS) Western Fleet’s oldest warrior, it was decommissioned after 34 years in Mumbai, Maharashtra.
      1) INS Rajput
      2) INS Khukri
      3) INS Gomati
      4) INS Viraat
      5) INS Kolkata
      Answer-3) INS Gomati
      The Indian Navy Ship (INS) Gomati was decommissioned from the naval dockyard at Mumbai, Maharashtra after 34 years. INS Gomati was named after the River Gomati and inducted on April 16, 1988 and was inducted by former Union defence minister KC Pant at Mazagon Dock Limited, Bombay.
      i. The ship is the third of the Godavari class guided-missile frigates and is the oldest warrior of the Western Fleet.
      ii. IMS Gomati was awarded the coveted Unit Citation, in 2007-08 and 2019-20 for its remarkable service of maritime security.

    10. What is the theme of the International Day of UN Peacekeepers 2022 that was observed across the globe by the United Nations (UN) on 29th May 2022?
      1) People. Peace. Progress. The Power of Partnerships
      2) Investing in Peace Around the World
      3) 70 Years of Service and Sacrifice
      4) Protecting Civilians, Protecting Peace
      5) Women in Peacekeeping: A Key to Peace
      Answer-1) People. Peace. Progress. The Power of Partnerships
      The United Nations(UN)’s International Day of UN Peacekeepers 2022 was observed across the globe on 29th May 2022 with the theme of “People. Peace. Progress. The Power of Partnerships”.
      i. The day was observed to pay tribute to the uniformed and civilian personnel who contributed to the work of the UN and the day also aims to honour around 4200 peacekeepers who lost their lives in the line of duty under the UN since 1948. This includes 135 peacekeepers who lost their lives in 2021.
      ii. The first-ever International Day of UN Peacekeepers day was observed on 29th May 2003.