Daily GK Update- 14th May, 2024

 NATIONAL UPDATES:

 

1. Mahindra & Mahindra sign MoU with MSDE for ‘Drone Didi’ Pilot Project: To boost rural women’s empowerment, the Union Ministry of Skill Development and Entrepreneurship (MSDE) has signed a MoU with Mahindra & Mahindra Ltd. to conduct two Pilot Projects under the Drone Didi Yojana at Noida and Hyderabad. The pilot projects to train women to operate drones for agricultural purposes will be held at the National Skill Training Institute in Noida and Hyderabad.

The company will train 500 rural women farmers to operate drones for agricultural purposes, such as fertilizing crops, monitoring crop growth, and planting seeds. Mahindra and Mahindra will also offer training in skills such as drone flying, data analysis, and drone maintenance.

 

2. Wipro appoints Vinay Firake as CEO for APMEA region: Wipro, a leading IT major, has appointed Vinay Firake as the Chief Executive Officer (CEO) of Asia Pacific, India, Middle East, and Africa (APMEA) strategic market unit (SMU) Firake will report to Srini Pallia and will also join Wipro’s executive board. He succeeds Anis Chenchah, who is stepping down to pursue opportunities outside the organisation, the company said in a statement. Firake will be based in Dubai. He has been with Wipro for 26 years, serving in various leadership roles.

 

3. Chandrasekaran appointed Chairman of Tata Electronics: The current chairman of Tata Sons, Chandrasekaran will also serve as the chairman of Tata Electronics. Chandrasekaran will replace Banmali Agarwal in this role, pending regulatory approval. Chandrasekaran’s appointment reflects the Tata Group’s commitment to the semiconductor business.

 

INTERNATIONAL UPDATES:

 

1. India extends budgetary support of $50m to Maldives: In a goodwill gesture, India has decided to extend vital budgetary support to the Maldives government with the rollover of a USD 50 million Treasury Bill for another year on the Maldivian government’s special request. The State Bank of India has subscribed for one more year to the USD 50 million Government Treasury Bill, issued by the Ministry of Finance of Maldives, upon maturity of the previous subscription. These Government Treasury Bills are subscribed by SBI under government-to-government, a unique arrangement at zero cost (interest-free) to the Government of Maldives.

 

2. TCS announces creation of Global AI Center of Excellence in France: Tata Consultancy Services announced the creation of a Global Artificial Intelligence (AI) Centre of Excellence in Paris,France during the Choose France Summit. The TCS AI Centre of Excellence in Paris will leverage TCS’ global ecosystem of startups, academia, and research organisations to bring the best of global capabilities to French companies. The new AI centre will be based in the upcoming TCS PacePort in the La Défense area of Paris, which will be inaugurated in June 2024, becoming the seventh such facility in TCS’ global Pace network, following Amsterdam, London, New York, Pittsburgh, Toronto, and Tokyo.

 

3. China surpasses US, becomes India’s top trading partner with $118.4 billion business: GTRI: China has emerged as India’s largest trading partner in the FY 2023-24 with $118.4 billion two-way commerce, narrowly edging past the US, according to the data of economic think tank GTRI (Global Trade Research Initiative). The bilateral trade between India and the US stood at $118.3 billion in 2023-24. Washington was the top trading partner of New Delhi during 2021-22 and 2022-23. According to the report, India’s exports to China rose by 8.7 per cent to $16.67 billion in the last fiscal. The main sectors which recorded healthy growth in exports to that country include iron ore, cotton yarn/fabrics/madeups, handloom, spices, fruits and vegetables, plastic and linoleum.

 

4. India signs 10-Year contract to operate Iran’s Chabahar Port: India and Iran have signed an agreement under which India will operate the strategically important Shahid Beheshti terminal of Chabahar Port of Iran for the next 10 years. The agreement was signed in the presence of Union Minister for Ports, Shipping & Waterways Minister Sarbananda Sonowal and Iranian Minister for Roads & Urban Development Mehrdad Bazrpash. Till now India operated the Shahid Beheshti Port of Chabahar on a short-term contract which was renewed periodically. This is the first international terminal which will be operated by India.

 

OTHER UPDATES:

DEFENCE

 

1. Sanjay Bhalla assumes role of Chief of Personnel in Indian Navy: Vice Admiral Sanjay Bhalla has assumed charge as Chief of Personnel (CoP) of Indian Navy. Vice Admiral Bhalla, who joined the Indian Navy on 1 January 1989, has served for 35 years in various roles. He Specialized in communications and electronic warfare and served on several front-line warships.

 

SPORTS 

 

1. Rathika, Senthil to lead India in 22nd Asian Squash Championship: The Squash Rackets Federation of India (SRFI) has announced the Indian team, which will participate in the 22nd Asian Team Squash Championships. 22nd Asian Team Squash Championship will be held in Dalian, China from 12 to 16 June 2024. Velavan Senthilkumar will lead the Indian men’s team while Rathika Seelan will lead the women’s team.

 

2. Indian Gymnast Srishti Khandagale wins Silver at Asian Championships: India’s Srishti Khandagale scripted history by becoming the first ever Indian to win a medal at the Asian Trampoline Gymnastics Championships. She clinched the silver medal in Women’s Individual Age group category at the 6th Asian Trampoline Gymnastics Championship held in Hong Kong, China.

Kazakhstan’s Dolgopolova secured the gold medal, while Hong Kong’s S Hung won the bronze.

 

3. ITF Tournament Junior 30 inaugurated in Lucknow: International Tennis Federation, ITF tournament Junior 30 was inaugurated in Uttar Pradesh ADG Traffic B.D Paulson graced the event as a chief guest. About 125 international players of junior boys and girls category including players from Ukraine and America are participating in this competition. Many players from UP are also in the fray for the coveted title.

 

4. 6 Indian Wrestlers Qualify for Paris Olympics: At Paris Olympics 2024, India will have six wrestlers in its contingent with five quotas coming through women. Aman Sehrawat and Nisha Dahiya took India’s number of quotas to six at the World Olympic Wrestling Qualifiers in Istanbul, Turkey. Earlier, Vinesh Phogat in the 50kg category, Antim Panghal in 53kg, Anshu Malik in 57kg and Reetika Hooda in 76kg category had already qualified for Paris Games at different qualifying events.

 

BANKING AND FINANCE

 

1. Retail Inflation eases to 4.83% in April 2024: Retail inflation eased marginally to 83% in April on an annual basis from 4.85% in March last month, as per government data released The inflation rate has stayed within the Reserve Bank of India’s (RBI) tolerance range of 2-6%. The National Statistical Office (NSO) reported that inflation in the food basket rose to 8.7% in April from 8.52% in March.

 

Daily GK Update- 13th May, 2024

 NATIONAL UPDATES:

 

1. SAIL-Bhilai to set up Chhattisgarh’s first 15-Mw floating solar plant: Bhilai Steel Plant (BSP), the Chhattisgarh-based arm of the state-run Steel Authority of India Limited (SAIL), will install the state’s first 15-megawatt (MW) floating solar project in its Maroda-1 reservoir to improve its carbon footprint. The steel major is undertaking various projects to reduce carbon emissions, conserve energy, and promote renewable energy. The project is being implemented through NTPC-SAIL Power Supply Company Limited (NSPCL), a 50:50 joint venture company of National Thermal Power Corporation (NTPC) and SAIL.

 

2. Idashisha Nongrang appointed first woman DGP of Meghalaya: Senior IPS Officer Idashisha Nongrang has been named first woman Director General of Police (DGP) of Meghalaya state. A 1992 batch Indian Police Service officer, she will replace Lajja Ram Bishnoi who will retire on May 19. She will serve as the State’s police chief till May 19, 2026. Nongrang is also the first tribal woman to ascend to this prestigious rank.

 

3. Vivek Kolhe elected as IFFCO Director: Vivek Bipindada Kolhe has been elected as a director of IFFCO (Indian Farmers Fertilizers Co-op Ltd.) New Delhi. He is currently working as the Chairman of Sahkar Maharshi Shankarao Kolhe Co-operative Sugar Factor. Kolhe’s extensive experience in the cooperative sector, coupled with his past role as RGB of IFFCO, positions him as a formidable advocate for farmers’ rights and interests. With Kolhe assuming his new responsibilities, the future of cooperative farming in Maharashtra looks bright.

 

INTERNATIONAL UPDATES:

 

1. Nepal climber Kami Rita Sherpa climbs Mt Everest for 29th time: Nepali Sherpa climber Kami Rita has scaled Everest for the 29th time, surpassing his own record of 28 ascents. He now holds the record for the most ascents of the world’s tallest peak in its 71-year climbing history. Kami Rita Sherpa, also known as ‘Everest man,’ embarked on the Spring Season Everest expedition from Kathmandu, accompanying a team of approximately 28 climbers. Seven Summit Treks organised the expedition to conquer the world’s highest peak. He completed his first ascent of Everest in 1994, at 24.

 

2. 12 May – International Nurses Day: International Nurses Day is observed every year on 12 May. This day marks the birth anniversary of Florence Nightingale who laid the foundation of modern nursing. International Nurses Day aims to highlight the importance of nurses in the healthcare sector. It also acts as an opportunity to thank nurses for their efforts and for taking care of patients around the clock. Theme 2024 – Our Future. The economic power of care.

 

3. UN proclaims May 25 as World Football Day: The United Nations General Assembly adopted a resolution proclaiming May 25 as World Football Day. The sport is called soccer in the United States. The day marks the 100th anniversary of the first international football tournament in history with the representation of all regions which took place on May 25, 1924 during the summer Olympic Games held in Paris, according to the resolution. The 193-member General Assembly adopted the resolution by consensus with a bang of the gavel by its president, Dennis Francis, to applause from diplomats in the assembly chamber. It was co-sponsored by more than 160 countries.

 

4. 12 May – International Day of Plant Health: The International Day of Plant Health (IDPH) is observed every year on 12 May. Objective – To raise awareness about the necessity of protecting plant health in order to prevent hunger, reduce poverty, safeguard biodiversity, and promote economic development. Theme 2024 – Plant Health, Safe Trade, Digital Technology The United Nations established the International Day of Plant Health (IDPH) to draw public attention to the necessity of safeguarding plant health in order to prevent hunger, reduce poverty, safeguard biodiversity, and promote economic development.

 

OTHER UPDATES:

 

SPORTS 

 

1. Neeraj Chopra finishes 2nd with 88.36m throw in Doha Diamond League: Neeraj Chopra finished second with a best throw of 88.36m throw while India’s Kishore Jena’s best was 76.31m in Doha Diamond League. Jakub Vadlejch of the Czech Republic, who finished first with a best effort of 88.38. while Anderson Peters claimed the third spot. Meanwhile, India’s Kishore Jena, who claimed the silver medal at the Asian Games last year with a personal best of 87.54m, endured a disappointing Diamond League debut, finishing ninth with a best throw of 76.31m.

 

2. Japan defeated Pakistan to win the 30th Sultan Azlan Shah Trophy: Japan has won its maiden Sultan Azlan Shah Hockey trophy by defeating Pakistan 4-1 in the penalty shoot-out in the final. The final was played at the Azlan Shah Stadium in Ipoh, Malaysia. 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. Six teams, Japan, Pakistan, Canada, South Korea, New Zealand, and the host team, Malaysia, participated in the 2024 event.

 

BANKING AND FINANCE

 

1. Hinduja Group gets IRDAI approval for Reliance Capital acquisition: Hinduja Group’s IndusInd International Holdings (IIHL) has received the long-awaited Insurance Regulatory and Development Authority of India’s approval for the acquisition of Reliance Capital. The acquisition will include the takeover of Reliance Capital’s insurance arms — wholly-owned subsidiary Reliance General Insurance and 51:49 JV with Nippon Life, Reliance Nippon Life Insurance. The insurance regulator has cleared the transfer of Reliance Capital’s 26 per cent stake in Reliance Nippon Life to Aasia Enterprises.

 

2. All Inactive Accounts to be closed on 1 June 2024: PNB: Punjab National Bank (PNB) has announced that it will close all its customers’ inactive bank accounts on 1 June 2024. Customers whose accounts have become inactive can activate their accounts by completing their KYC (Know Your Customer) by 31 May 2024. The bank has taken this step to reduce expenses and prevent fraud in such accounts.

 

AWARDS AND HONOURS

 

1. Hemant Khatri receives PSU Samarpan Award: Hindustan Shipyard Limited’s (HSL) Chairman and Managing Director (CMD) Hemant Khatri has been honoured with the esteemed ‘PSU Samarpan Award’ by Gov Connect at the award ceremony held in New Delhi. The ‘PSU Samarpan Award’ acknowledges the significant contributions of Public Sector Undertakings to the country’s progress. ‘PSU Samarpan Award’ by Gov Connect, an initiative by ilouge Media, recognised the exemplary leadership of HSL’s CMD for driving the transformation of the shipyard and inspiring countless individual within the industry.

 

2. Dr Soumya Swaminathan to be awarded honourary doctorate by Canada’s McGill University: Dr Soumya Swaminathan, most recently WHO’s Chief Scientist, has been named among the 10 exceptional individuals who will receive honorary degrees from Canada’s prestigious McGill University as part of the Spring 2024 Convocation ceremonies. More than two centuries old, McGill, a public research university in Montreal, grants honorary degrees to individuals “who have lifetime records of outstanding scholarly, scientific, or artistic achievement, or of exceptional contributions to the public good through professional or philanthropic activity.

 

 

Daily GK Update- 12th May, 2024

 NATIONAL UPDATES:

 

1. RBI appoints R. Lakshmi Kanth Rao as Executive Director: The Reserve Bank of India (RBI) has appointed R Lakshmi Kanth Rao as executive director (ED). As executive director, Rao will handle the Deposit Insurance and Credit Guarantee Corporation (DICGC), the Right to Information Act (FAA), and the Department of Communication. Rao was previously serving as chief general manager in charge in the Department of Regulation. He has over 30 years of experience at the RBI and has worked in several areas, including regulation of banks and non-banking financial companies (NBFCs), supervision of banks, and consumer protection.

 

2. 11 May – National Technology Day: National Technology Day is celebrated annually in India on 11 May. This day is dedicated to recognizing the contributions of innovators, scientists, and engineers, and to promoting scientific and technological innovation in the country. The day was first established in 1998 to commemorate the successful nuclear test at Pokharan. This test was a significant milestone in India’s technological advancement, and it paved the way for the country to acquire a leading position in the field of nuclear weapons technology.

 

3. ICMR Warns: Packaged Food Labels May Mislead Consumers: The Indian Council of Medical Research (ICMR), through its Hyderabad-based National Institute of Nutrition (NIN) has recently highlighted potential misleading claims on packaged food labels. The ICMR’s dietary guidelines issued in May 2024 warn consumers that labels designed to attract

 

INTERNATIONAL UPDATES:

 

1. India and Oman to jointly undertake research on sharks and rays in Arabian Sea: A joint initiative between India and Oman to boost research and conservation of sharks and rays in the Arabian Sea will be launched at an upcoming workshop at ICAR-Central Marine Fisheries Research Institute (CMFRI). Experts from both countries will take part in the workshop which is expected to take place shortly, here, which will take up the collaborative research works and capacity building in elasmobranch research. The workshop will lay the foundation for a collaborative future in marine research between the two countries and open avenues for regional management and conservation of iconic resources such as sharks and rays in the Arabian Sea.

 

2. India, and Moldova sign agreement for Visa Waiver on Diplomatic Passports: India and Moldova signed an agreement allowing holders of diplomatic and official passports from either country to travel to the other without requiring a visa. This Agreement will add further momentum to the friendly and cordial relations between the two countries. Diplomatic relations between India and Moldova were established on March 20, 1992.

 

3. Idriss Deby won Chad’s Presidential election: The Military dictator and interim president of the Central African Country of Chad, Mahamat Idris Deby Itno has won the presidential election.

Mahamat Idris Deby seized power with the support of fellow army generals in 2021 and became the interim president of the country after the death of his father, President Idriss Deby. President Idriss Deby was killed in 2021 by rebels in Northern Chad shortly after being elected President for the sixth time.

 

4. 11 May 2024 – World Migratory Bird Day: World Migratory Bird Day is observed every year on second Saturday of May. This year was celebrated on 11 May. Objective – To raise awareness about the conservation of migratory birds and their habitats. Theme 2024 – Insects World Migratory Bird Day was first established in 1993 by visionaries from the Smithsonian Migratory Bird Center.

 

OTHER UPDATES:

DEFENCE

 

1. India, France Set for 7th Joint Military Exercise Shakti: India and France are set to conduct the 7th edition of the Joint Military Exercise ‘Shakti’ between May 13-26, 2024, in the Umroi region of Meghalaya. This version of the drill builds on the strong defense ties that have been

 

SPORTS 

 

1. New Zealand’s Colin Munro announces retirement from International Cricket: New Zealand left-handed batter Colin Munro announced his retirement from international cricket after a career spanning 123 matches for the Blackcaps across all formats. The 37-year-old has featured in 65 T20Is, 57 ODIs and a single Test for New Zealand, with his last appearance coming in their T20I home series against India back in 2020.

 

SCIENCE AND TECHNOLOGY

 

1. NASA Telescope to Hunt Big Bang-Era Black Holes in 2026: Black Hole Week (May 6 to 10) has made people pay more attention to NASA’s Nancy Grace Roman Space Telescope, which will be launched in 2026. Most astronomers are looking forward to this project, which is meant to look for

 

BANKING AND FINANCE

 

1. Thomas Cook India launches Digital Service TCPay for International Money Transfers: Omnichannel forex services company Thomas Cook India has launched TCPay, a new digital service that brings ease and efficiency to international money transfers. Traditionally, sending money abroad was considered an arduous process, that involved visits to branches, cumbersome paperwork and limited operating hours. Recognising the challenges, Thomas Cook has introduced TCPay that offers multiple benefits to transform the way individuals transfer funds.

 

2. Zeta launches digital credit as service for banks in India: Fintech platform Zeta has launched its ‘Digital Credit’ as a service for bank in India. Zeta’s offering is underpinned by the National Payments Corporation of India’s (NPCI) credit line on UPI scheme – which harnesses the power of the UPI network to turbo-charge credit issuance in India. Zeta estimates that the transaction volume on this scheme will exceed $1 trillion by 2030 and aims to capture 50% of this market opportunity with its end-to-end solution that can help banks conceive and rapidly launch multi-form credit products.

 

 

 

Daily GK Update- 11th May, 2024

 NATIONAL UPDATES:

 

1. Indian export to 115 countries shows positive growth in 2023-24: According to data released by the Union Ministry of Commerce, India’s exports have recorded positive growth in 115 countries out of the total 238 countries/territories it exported in 2023-24. These 115 export destinations, which account for 46.5 per cent of India’s export basket, include the US, UAE, Netherlands, China, UK, Saudi Arabia, Singapore, Bangladesh, Germany and Italy. The country’s merchandise exports decreased by 3 per cent to $437.1 billion in the last fiscal. However, services exports rose to $341.1 billion in 2023-24 as against $325.3 billion in 2022-23.

 

2. Idashisha Nongrang Appointed Meghalaya’s First Woman DGP: On May 11, 2024, Senior IPS Officer Idashisha Nongrang has been named Meghalaya’s first woman Director General of Police (DGP). Chief Minister Conrad K Sangma officially announced this landmark decision, noting it as a significant moment for the state, as.

 

3. India’s Spice Board Issues New EtO Contamination Guidelines: The Spices Board of India has recently issued detailed guidelines to tackle the problem of ethylene oxide (EtO) contamination in spices exported from India. This action was prompted by the bans imposed by Hong Kong and Singapore on the sale.

 

4. India’s Pronouncements at the 19th Session of the UNFF: India said important things at the 19th Session of the United Nations Forum on Forests (UNFF) in New York in May 2023. The country emphasized the progress it had made in protecting forests, which it said was due to careful.

 

INTERNATIONAL UPDATES:

 

1. India, and Moldova sign agreement for Visa Waiver on Diplomatic Passports: India and Moldova signed an agreement allowing holders of diplomatic and official passports from either country to travel to the other without requiring a visa. This Agreement will add further momentum to the friendly and cordial relations between the two countries. Diplomatic relations between India and Moldova were established on March 20, 1992.

 

2. Idriss Deby won Chad’s Presidential election: The Military dictator and interim president of the Central African Country of Chad, Mahamat Idris Deby Itno has won the presidential election.

Mahamat Idris Deby seized power with the support of fellow army generals in 2021 and became the interim president of the country after the death of his father, President Idriss Deby. President Idriss Deby was killed in 2021 by rebels in Northern Chad shortly after being elected President for the sixth time. President Idriss Deby was a dictator who ruled the country with an iron hand for 30 years from 1990 till 2021.

3. 11 May 2024 – World Migratory Bird Day: World Migratory Bird Day is observed every year on second Saturday of May. This year was celebrated on 11 May. Objective – To raise awareness about the conservation of migratory birds and their habitats. Theme 2024 – Insects World Migratory Bird Day was first established in 1993 by visionaries from the Smithsonian Migratory Bird Center.

 

4. Afghanistan Flash Floods Cause Severe Damage: Recently, Afghanistan was hit by severe flash floods following torrential rains, resulting in a tragic loss of life and extensive property damage. The most affected area was the northern province of Baghlan, where it was reported that more than 150.

OTHER UPDATES:

DEFENCE

 

1. India French Military Exercise Shakti 2024 to be held in Meghalaya: Joint military Exercise Shakti between the Indian and the French forces will be held at the Joint Training Node of the Indian Army in Umroi, Meghalaya, from 13 -26 May 2024. The opening ceremony of Exercise Shakti will be attended by the French Ambassador to India, Thierry Mathou. The exercise aims at enhancing cooperation, understanding, and interoperability between the two Armies.

 

2. India, France Set for 7th Joint Military Exercise Shakti: India and France are set to conduct the 7th edition of the Joint Military Exercise ‘Shakti’ between May 13-26, 2024, in the Umroi region of Meghalaya. This version of the drill builds on the strong defense ties that have been ..

 

3. India to Spend ₹2 Crore Per Km on China Border Roads: The Vibrant Village Program (VVP), which was approved by the government on February 15, 2023, wants to improve infrastructure and settlement stability along the border between India and China. The goal of this project is to improve the lives of ..

 

SPORTS 

 

1. New Zealand’s Colin Munro announces retirement from International Cricket: New Zealand left-handed batter Colin Munro announced his retirement from international cricket after a career spanning 123 matches for the Blackcaps across all formats. The 37-year-old has featured in 65 T20Is, 57 ODIs and a single Test for New Zealand, with his last appearance coming in their T20I home series against India back in 2020.

 

SCIENCE AND TECHNOLOGY

 

1. NASA Telescope to Hunt Big Bang-Era Black Holes in 2026: Black Hole Week (May 6 to 10) has made people pay more attention to NASA’s Nancy Grace Roman Space Telescope, which will be launched in 2026. Most astronomers are looking forward to this project, which is meant to look for ..

 

2. Indian Ocean Temps Linked to Global Dengue Intensity: In recent research published in the journal Science, a noteworthy relationship has been identified between the sea-surface temperatures of the Indian Ocean and the global intensity of dengue outbreaks. This work introduces the Indian Ocean basin-wide (IOBW) index as a ..

 

BANKING AND FINANCE

 

1. Zeta launches digital credit as service for banks in India: Fintech platform Zeta has launched its ‘Digital Credit’ as a service for bank in India. Zeta’s offering is underpinned by the National Payments Corporation of India’s (NPCI) credit line on UPI scheme – which harnesses the power of the UPI network to turbo-charge credit issuance in India. Zeta estimates that the transaction volume on this scheme will exceed $1 trillion by 2030 and aims to capture 50% of this market opportunity with its end-to-end solution that can help banks conceive and rapidly launch multi-form credit products.

 

 

Daily GK Update- 10th May, 2024

 NATIONAL UPDATES:

 

1. Zomato unveils weather services infrastructure: Zomato CEO Deepinder Goyal has launched India’s first crowd-supported weather network with over 650 weather stations, the largest private setup in India, for real-time local weather data. These weather stations, developed by Zomato, provide localised, real-time information on key weather parameters such as temperature, humidity, wind speed, rainfall, among others can be seen at.. Initially available in 45 major cities, plans are underway for expansion.

 

2. Keki Mistry appoints as Chairman of HDFC Life: The Insurance Regulatory and Development Authority (IRDAI) has approved the appointment of Keki Mistry as chairman of HDFC Life. Last month, the company had appointed Mistry as the chairman of the board, following the decision of Deepak S. Parekh to step down as the chairman and non-executive director of the company.

Mistry, who was the vice chairman and CEO of HDFC Limited was designated as a non-executive director on the board of HDFC Bank Limited following the amalgamation of HDFC Limited with HDFC Bank.

 

3. R Shankar Raman elevated as President of L&T: Larsen and Toubro was elevated R Shankar Raman as the President of the engineering and construction conglomerate. Post the promotion, Raman will continue to hold the position of the whole-time Director and CFO of the company as well. Raman joined the L&T Group in November 1994 to set up L&T Finance Ltd, a wholly owned subsidiary. He later assumed the role of CFO at L&T and was appointed to the board in October 2011.

 

INTERNATIONAL UPDATES:

 

1. India overtook Japan to become world’s 3rd largest solar power generator in 2023: Due to rapid growth in installed solar power capacity, India became the third-largest solar power generator in 2023. The 5th “Global Electricity Review” report published by the United Kingdom-based global think tank Ember said that India, which was ranked ninth in 2015, jumped to third position in 2023, overtaking Japan. India saw the world’s fourth-largest increase in solar generation in 2023 (+18 terawatt hour or TWh), behind China (+156 TWh), the United States (+33 TWh) and Brazil (+22 TWh). Together, the top four solar growth countries accounted for 75 per cent of growth in 2023.

 

2. 10 May – International Day of Argania: International Day of Argania is celebrated every year on May 10. Objective – To increase awareness about these unique trees, their benefits, and the challenges they face. This special day celebrates the Argan tree, an ancient species that has grown in Morocco for about 80 million years. These trees are not just old; they play a crucial role in the local economy and environment. The Argan tree is a native species of the sub-Saharan region of Morocco, in the southwest of the country, which grows in arid and semiarid areas.

 

3. 10 May – World Lupus Day: World Lupus Day is observed on 10 May every year to raise awareness about the autoimmune disease lupus. The day is also dedicated to spreading awareness about the need for research to find a cure for the disease. Lupus is a complex and debilitating autoimmune disease that affects millions of people worldwide. It is characterized by the immune system attacking the body’s own tissues, leading to inflammation and damage to various organs.

 

OTHER UPDATES:

DEFENCE

 

1. DRDO hands over nine defence tech projects to IIT-Bhubaneswar: Nine projects sanctioned from the electronics and communication systems (ECS) cluster of Defence Research and Development Organisation (DRDO) were handed over to IIT-Bhubaneswar. Seven more projects are in the process of being sanctioned from ECS with a funding of Rs 18 crore. The IIT-Bhubaneswar will work on these sanctioned projects, which would be beneficial in electronics warfare, AI-driven surveillance, power systems and radar systems. This form of collaboration will enhance the sustainability of defence research programmes and will be part of the ecosystem for nation building.

 

2. Indian Coast Guard sign MoU with Hindalco Industries: Indian Coast Guard has signed a Memorandum of Understanding (MoU) with Hindalco Industries for manufacturing and supply of indigenous marine-grade aluminium for construction of ships. The Indian Coast Guard fleet is presently operating 67 ships with aluminium hull with capability of operating in shallow waters.

Indian Coast Guard has planned to induct more such vessels where the indigenously manufactured marine-grade aluminium will be utilised.

 

SPORTS

 

1. Amul to Sponsor Sri Lanka Men’s T20 World Cup Team: Sri Lanka has announced Amul, one of India’s iconic diary brands with a global footprint, as their sponsor for the ICC T20 World Cup 2024, starting June 2 in the USA and the West Indies. Sri Lanka, former champions of the T20 World Cup, will become the third team after South Africa and USA to be sponsored by Amul at the showpiece T20 tournament. Amul has a history of sponsoring cricket teams during ICC tournaments, having previously collaborated with the New Zealand and the Netherlands national sides for the 2017 Champions Trophy and 2011 Cricket World Cup, respectively.

 

2. India clinches 5 medals at Asian Open Pickleball Championships: India clinched three gold and two bronze medals at the Asian Open Pickleball Championships in Vietnam. Sachin Pahwa and Priyanka Chabbra led India to its first gold medal, defeating Ruben Hellberg and Chitlada Hemasee 11-9, 5-11, 11-9, in the mixed doubles intermediate 35+ category final. While in the women’s doubles open category, the pair of Isha Lakhani and Pei Chuan Kao bagged the gold medal with a dominating 15-7, 15-3 win against Dang Kim Ngan and Tyak K.

 

3. Bajrang Punia suspended by Wrestling Authorities: Wrestling’s world governing body (UWW) has suspended Bajrang Punia till the end of this year following NADA’s decision to hand him a provisional suspension for refusing to undergo a dope test. However, despite being well aware of NADA’s order, the Sports Authority of India (SAI) sanctioned close to Rs 9 lakh for his training abroad. Bajrang, one of the country’s most successful wrestlers, was suspended by NADA on April 23 after being served a whereabouts failure notice on April 18.

 

AWARDS AND HONOURS

 

1. OTT play bagged INMA Global Media Awards 2024: OTTplay has bagged the Gold for Best Product Iteration and Silver in Best Use of an Event at INMA 2024. OTTplay has won Gold (first place) in the Best Product Iteration category and Silver (second place) in the category for Best Use of an Event to Build a News Brand. The platform’s transition to an OTT aggregator, addressing the challenge of multiple subscriptions, was celebrated for its innovation.

 

2. Genius Box honored by BIS for quality and branding excellence: Genius Box, a leading brand specializing in innovative DIY educational kits for children, has been recognized and honored by the Bureau of Indian Standards (BIS) for its outstanding commitment to quality and branding excellence. The prestigious recognition comes alongside Genius Box’s distinguished feat of maintaining a flawless record of nil sample failures over the past three years. Genius Box stands as a pioneer in revolutionizing children’s education through its “Play-full-learning” approach. With a mission to engage children in immersive learning experiences, the brand offers thoughtfully curated kits and games designed to foster curiosity, creativity, and critical thinking skills.

 

3. Pawan Sindhi honored with Global Pride of Sindhi Award 2024: Social worker Pawan Sindhi was bestowed with the prestigious Global Pride of Sindhi Award 2024 for Outstanding Social Work. The award night witnessed a gathering of like-minded individuals who came together to promote the values of humanity, peace, and prosperity.

 

 

 

Daily GK Update- 9th May, 2024

 NATIONAL UPDATES:

 

1. Greenko Energies gets CCI nod to acquire additional stake in Sikkim Urja: The Competition Commission of India (CCI) has approved the acquisition of additional shares in Sikkim Urja Limited (formerly Teesta Urja Limited) by Greenko Energies Private Limited. Sikkim Urja Ltd is a special purpose vehicle incorporated for the purpose of the implementation of the 1,200 MW hydropower project in North Sikkim. According to the CCI, Greenko Energies, an indirect company wholly owned by Greenko Mauritius, will acquire the additional shares in the capacity of 6 units of 200 MW each in the hydro power project.

 

2. Uttarakhand Govt Launches Pirul Lao Paise Pao Campaign: The Uttarakhand government has launched the Pirul Lao-Paise Pao campaign to contain the raging forest fire in the state. Under the Pirul Lao-Paise Pao campaign, the local youth and villagers will collect dry Pirul (Pine tree leaves) in the forest and take them to the designated Pirul collection centre. The Tehsildar in their respective areas will manage the pirul collection centre under the supervision of the Sub-Divisional Magistrate.

 

3. SBI General Insurance names Jaya Tripathi as Head of Key Relations Group: SBI General Insurance, one of India’s top general insurers, has named Jaya Tripathi as Head of Key Relations Group. Her new role will involve leading the expansion of new business prospects and alliances, driving sales team growth, and deepening partner relationships to increase profitability. Her broad experience includes top leadership positions in notable companies like as Mahindra Holidays, ICICI Lombard, Forevermark Diamonds (De Beers Group), and Aditya Birla Group, where she has made important contributions to commercial and strategic development.

 

INTERNATIONAL UPDATES:

 

1. Sri Lanka signs 20-Year Power Deal with Adani Green Energy for Wind Stations: Sri Lanka has sealed a 20-year power deal with Adani Green Energy Ltd of India. Sri Lanka’s Cabinet of Ministers have approved the project under which two wind power stations will be developed by Adani, marking a crucial step towards sustainable energy solutions. The approval granted last year for Adani’s $442 million investment in 484 megawatts wind power plants underscores the growing partnership between the two nations in the renewable energy sector.

 

2. Vladimir Putin sworn in as Russian President for 5th time: Vladimir Putin was sworn in as president of the Russian Federation for the fifth time for a six-year term. He took the oath of office at a ceremony held at the Grand Kremlin Palace in Moscow. The ceremony was attended by Russia’s top military and political leadership, but the United States and many European nations boycotted the ceremony, saying that the presidential election was a fraud. Putin, in power as president or prime minister since 1999. In 1999, after President Boris Yeltsin’s resignation, Putin was appointed interim president of Russia.

 

3. 8 May – World Thalassaemia Day: World Thalassaemia Day is observed on May 8th every year.

Objective – To raise awareness about thalassaemia, a genetic blood disorder characterised by abnormal haemoglobin production. Theme 2024 – Empowering Lives, Embracing Progress: Equitable and Accessible Thalassaemia Treatment for All.

 

OTHER UPDATES:

DEFENCE

 

1. Indian Coast Guard and Jindal Steel & Power sign MoU to enhance indigenous shipbuilding: The Indian Coast Guard and Jindal Steel & Power Ltd signed an MoU for the supply of indigenous marine-grade steel. The MoU highlights the critical role of public-private partnerships in tackling intricate security challenges, emphasizing the necessity of cooperation between governmental bodies and the private sector. Within the MoU, various significant advantages such as quality, grades, and dimensions, alongside the identification of specific steel plants tasked with manufacturing the product are outlined.

 

BANKING AND FINANCE

 

1. RBI removes restrictions on BoB app, allows new customer enrollment: Reserve Bank of India lifted the restrictions on Bank of Baroda, allowing the bank to resume onboarding new customers through its ‘Bob World’ mobile application. As a result, the bank will be able to onboard customers through the mobile app. The move likely impacted the bank’s incremental retail business sourced through the digital platform.

 

2. HDFC Bank, Atal Innovation Mission empower social sector startups with Rs 19.6 crore grants: HDFC Bank has supported social sector startups in India with grants worth Rs 19.6 crore in FY24, in partnership with Atal Innovation Mission (under NITI Aayog). In FY 2023-24, 170 social start-ups received funding via 41 incubators, with a total of Rs 19.6 crore in the ‘Parivartan Start-up Grants programme.’ The focus areas for the 2024 grants included climate innovation, financial inclusion, agriculture and sustainable rural economy, accessible and affordable healthcare, education and livelihood enhancement, gender diversity and inclusion.

 

3. South Indian Bank and Northern Arc Capital join hands to set new benchmarks in the financial sector: South Indian Bank has formed an association with Northern Arc Capital aiming to explore and maximise commercial prospects by combining efforts in loan origination, underwriting, disbursement, collection, and reconciliation procedures. The collaboration between South Indian Bank and Northern Arc Capital is aimed to create an ecosystem that promotes innovation and allows the seamless flow of credit across many sectors.

4. L&T Finance launches ‘The Complete Home Loan’: L&T Finance Ltd (LTF) has launched ‘The Complete Home Loan’, offered through a digitised process, along with a dedicated relationship manager and optional home décor finance. Home décor finance aims to provide flexibility and convenience in acquiring essential furnishings for a comfortable living space. The loan will be given against an architect’s certificate or contract certification when the house is ready for interior decoration. It will be about 15 per cent of the entire home loan, not exceeding ₹75 lakh, and can go up to 10 years.

 

AWARDS AND HONOURS

 

1. 2024 Pulitzers Winner announced: Columbia University of the United States of America announced the 2024 Pulitzer Prize winners. The awards, considered the most prestigious in the fields of journalism and arts, were conferred by Columbia University on the recommendation of the Pulitzer Prize Board.