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.
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