NATIONAL UPDATES:
1. Mazagon Dock Shipbuilders Ltd celebrates 250th Foundation Day: Mazagon Dock Shipbuilders Limited (MDL) celebrated its 250th Foundation Day on 14 May 2024. To mark the day, a series of events were organised in Mumbai, presided over by Defence Secretary Shri Giridhar Aramane. These included the inauguration of adjacent land acquired from the Mumbai Port Authority (MPA) and; the launch of a prototype of an indigenous midget submarine.
INTERNATIONAL UPDATES:
1. Ramcharitmanas, Panchatantra, and Sahṛdayāloka-Locana enter ‘UNESCO’s Memory of the World Asia-Pacific Regional Register’: The Ramcharitmanas, Panchatantra and Sahṛdayāloka-Locana have been included in ‘UNESCO’s Memory of the World Asia-Pacific Regional Register’. The ‘Ramcharitmanas’, ‘Panchatantra’, and ‘Sahṛdayaloka-Locana’ are such timeless works that have deeply influenced Indian literature and culture, shaping the nation’s moral fabric and artistic expressions. The decision to include Ramcharitmanas, Panchatantra and Sahṛdayāloka-Locana was taken at the 10th General Meeting of the Memory of the World Committee for Asia and the Pacific (MOWCAP) held in Ulaanbaatar, capital of Mongolia.
2. Maiden Indian Pavilion set up at the World Hydrogen Energy Summit: India has set up its maiden pavilion at the World Hydrogen Summit and Exhibition 2024. The Pavilion was set up by the Union Ministry of New & Renewable Energy and inaugurated by the Secretary of the Ministry of New and Renewable Energy Bhupinder Singh Bhalla. The World Hydrogen Summit 2024 was held in Rotterdam, Netherlands. The Summit was attended by 15,000 delegates from around the world.
3. Andrei Belousov appointed as new defence minister of Russia: President Vladimir Putin has nominated economist Andrei Belousov to replace long-serving defence minister Sergei Shoigu. For the first time in 12 years, Russia has a new minister of defence. He was appointed minister for economic development in 2012; the following year, he became an aide to Mr Putin. He was also a key backer of the VAT increase from 18 to 20% in 2019.
4. 15 May – International Day of Families: International Day of Families is celebrated every year on May 15th. Objective – To raise awareness about the significance of families and the challenges they confront. The day also celebrates the diversity of families and promotes inclusivity. Theme 2024 – Families and Climate Change This year marks the 30th anniversary of the International Day of Families.
OTHER UPDATES:
SPORTS
1. Abha Khatua Sets National Record Winning Gold In Women’s Shot Put: Abha Khatua has set a national record and won gold medal in Women’s Shot Put with a massive throw of 18.41 metres at National Federation Cup Athletics Competition in Bhubaneswar. While Uttar Pradesh’s Kiran Baliyan finished second and Delhi’s Srishti Vig stood at third position. Representing Maharashtra at the event, Abha was the joint record holder of 18.06 metres with Manpreet Kaur before this event. Abha was the joint record holder of 18.06 metres with Manpreet Kaur before this event.
2. England cricketer James Anderson announced retirement: England pace legend James Anderson has announced retirement from cricket. Having made his debut for England at Lord’s in 2003, Anderson will finish his career at the same ground playing his 188th Test. Anderson will play his 188th Test match — only India great Sachin Tendulkar has more with 200 — and gives him one more chance to add to his total of 700 Test wickets, comfortably the most by a pacer.
Only spinners Muttiah Muralitharan (800) and Shane Warne (708) have more Test wickets.
BANKING AND FINANCE
1. Warburg Pincus to acquire Shriram Housing Finance for Rs 4,630 crore: New York-based private equity firm Warburg Pincus will acquire Shriram Housing Finance Ltd (SHFL) in a deal valued at ₹4,630 crore for equity and convertible instruments. Warburg Pincus will acquire the stake through its affiliate Mango Crest Investment Ltd. At present Shriram Finance Ltd holds a controlling stake in SHFL while private equity firm Valiant Partners L.P. (Valiant), Mauritius, holds the remaining ownership. As a part of this transaction, Valiant and Shriram Finance will completely divest its equity stake to Warburg Pincus.
2. Indian economy likely to grow at 6.6% in FY25: Moody’s: Moody’s Ratings projected a 6% growth rate for the Indian economy in the fiscal year ending March 2025 (FY25). The forecast attributes the growth to strong credit demand and robust economic performance, which will support the profitability of non-bank finance companies (NBFCs). In comparison to Moody’s forecast, the Reserve Bank of India (RBI) and other agencies have higher growth projections. The RBI, Asian Development Bank (ADB), and Fitch Ratings each estimate a 7% growth rate for FY25, while S&P Global Ratings and Morgan Stanley predict a 6.8% growth rate.
3. HDFC Bank launches virtual credit card ‘Pixel’: The country’s largest private sector lender, HDFC Bank has launched PIXEL, its first virtual credit card with Visa’s network. The card is available in two variants: PIXEL Play and PIXEL Go and allows users to build their own cards with personalised benefits, offers, etc. Customers can register for the cards on the bank’s PayZapp mobile application which can be digitally managed. The PayZapp application will provide credit card users with features like card controls, rewards, EMI dashboard, notifications, statements, repayments, disputes, hotlisting, recent transactions, etc.
AWARDS AND HONOURS
1. Chandrakant Satija honored with Global Excellence Award 2024: Chandrakant Satija wins the Global Excellence Award 2024 for being the “Most Trusted Admission Consultant in Vidarbha Region”. He is the founder and CEO of Chandra Admission Consultants. The award was presented to him by the famous Bollywood actress Shilpa Shetty Kundra. He was adjudged as the Most Trusted Admissions Consultant in Vidarbha Region.
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