INTERNATIONAL
International Summits
Mumbai Hosts Kimberley Process (KP) Intersessional Meeting 2026
India inaugurated the Kimberley Process (KP) Intersessional Meeting 2026 in Mumbai, serving as the Chair of the global body for the third time.
The KP is a global tripartite initiative involving governments, the diamond industry, and civil society to prevent the trade of 'conflict diamonds'.
The 2026 theme is '3Cs'—Credibility, Compliance, and Consumer Confidence—emphasizing ethics in the diamond supply chain.
India took over the Chairmanship on January 1, 2026, underscoring its role as a global hub for diamond cutting and polishing.
The KP is a global tripartite initiative involving governments, the diamond industry, and civil society to prevent the trade of 'conflict diamonds'.
The 2026 theme is '3Cs'—Credibility, Compliance, and Consumer Confidence—emphasizing ethics in the diamond supply chain.
India took over the Chairmanship on January 1, 2026, underscoring its role as a global hub for diamond cutting and polishing.
Key Facts / Static GK
KP Chair 2026: Suchindra Misra
Kimberley Process Certification Scheme (KPCS) Launch: 1 January 2003
Number of KP Participants: 60
Kimberley Process Certification Scheme (KPCS) Launch: 1 January 2003
Number of KP Participants: 60
Practice Quiz — 13 May 2026
Q1. As per the latest RBI Master Direction, what is the maximum penalty for repeated violations regarding the refusal to exchange mutilated or soiled notes?
Answer: (D) Rs 5,00,000 — While the initial penalty for a single deficiency is Rs 10,000, it can rise to a maximum of Rs 5 lakh for repeated violations by a bank.
Q2. Under the new guidelines, what is the maximum daily limit for free exchange of soiled notes at any bank branch?
Answer: (B) 20 pieces or Rs 5,000 — RBI allows free exchange of soiled notes for up to 20 pieces or a total value of Rs 5,000 per day over the counter.
Q3. Which of the following statements regarding the VB-G RAM G Act is incorrect?
Answer: (C) The Centre funds 100% of unskilled wages for all states. — Unlike MGNREGA, where the Centre funded 100% of unskilled wages, the new Act introduces a cost-sharing model (e.g., 60:40 for general states and 90:10 for Himalayan/NE states).
Q4. Who was sworn in as the 13th Chief Minister of Tamil Nadu in May 2026?
Answer: (C) Joseph Vijay — C. Joseph Vijay, leading the TVK party, took the oath as the 13th CM of Tamil Nadu, succeeding M.K. Stalin.
Q5. From July 1, 2026, if an educational institution wants to use stock price data for classroom demonstration for free, what is the minimum required time lag as per SEBI?
Answer: (D) 30-day lag — SEBI has standardized the delay to 30 days for educational use to simplify the earlier framework of 1-day/3-month lags.
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