NATIONAL UPDATES:
1. First Hydrogen plant of GAIL inaugurated in Vijaipur,
MP: The government of India-owned GAIL(India) Limited’s first green
hydrogen plant has become operational at Vijaipur in Madhya Pradesh. This
marks the entry of India’s largest natural gas transmission and distribution
company in the green fuel business. The 10-megawatt
proton exchange membrane electrolyser for the green-hydrogen producing unit at
the Vijaipur complex has been imported from Canada.
The
plant will produce about 4.3 tonnes of green hydrogen per day, with a purity of
about 99.999 per cent by volume. It uses electricity produced from renewable
sources such as the sun’s solar energy, to split water to produce green
hydrogen.
2. Telangana government enforces Statewide ban on gutka
and pan masala: The Telangana
government has issued a one-year ban on the manufacture,
storage, distribution, transportation and sale of gutka and pan masala
containing tobacco and nicotine throughout the State, effective immediately. The
restriction has been imposed in light of a legitimate concern for public
well-being. As indicated by the order from the Food Safety Commissioner, the
restriction will be upheld under Food Safety and Standards Act, 2006. The order
passed by the Food Safety Commissioner stated that, “Telangana state hereby
prohibits the manufacture, storage, distribution, transportation and sale of
Gutkha/Pan masala which contains tobacco and nicotine as an ingredient which
are packed in sachets/pouches/package/containers etc.
INTERNATIONAL UPDATES:
1. Ghana ties up with Reliance Jio arm, others for
building 4G, 5G telecom infra: Ghana has signed deals with a Reliance
Jio subsidiary, Tech Mahindra and other vendors to build 4G and 5G
infrastructure as the African country aims to enhance its telecom
capabilities. Ghana’s state-backed Next-Gen Infrastructure Company (NGIC) has
partnered with Jio’s arm Radisys, Tech Mahindra and Nokia to build the
necessary infrastructure for delivering affordable 5G mobile broadband
services. NGIC has been allocated 5G spectrum and local telcos will be
utilising the shared infrastructure to roll out the services in the next six
months. As per reports, the overall contract is over $200 million.
2. WHO launches first-ever investment round for
sustainable funding: The World Health Organization (WHO) has
launched its first investment round to sustainably finance its Health for
All mandate. The move comes as the organization seeks to transform the way it
is funded by 2028. The investment round is part of a broader plan to reform the
WHO’s funding architecture and make it more sustainable amid an era of climate
change, mass migration, pandemics, an ageing world population, and turbulent
geopolitics. The high-level event, which was held alongside the G20, will help
member states and donors declare their support for the strategy and make
commitments.
3. Gitanas Nauseda elected as the president of Lithuania:
Lithuanian President Gitanas Nauseda has won re-election, securing about
75% of the vote against PM Ingrida Simonyte. This marks the second
presidential victory over Simonyte, having previously defeated her in 2019 with
66% of the votes. Lithuania is a country in the Baltic region of Europe.
4. 28 May – World Hunger Day: World Hunger Day is
observed every year on 28 May. This day raises awareness about the urgent
issue of global hunger. It’s time to acknowledge the millions suffering from
malnutrition and the need for sustainable solutions to end hunger for good. Theme
2024 – Thriving Mothers, Thriving World In 2011, The Hunger Project, a
global organisation dedicated to ending hunger and poverty, established World
Hunger Day as a yearly event.
OTHER UPDATES:
DEFENCE
1. DRDO chairman Samir V. Kamat gets one year extension: The
tenure of Defence Research and Development Organization (DRDO) chairman Dr
Samir V Kamat was extended for another year by the Centre. As per a
government order, Dr Kamat will continue in his present position as the DRDO
chief till May 31, 2025. He was appointed to the highest post in the DRDO in
August 2022 and was slated to retire on May 31, 2024. Dr Kamat completed his
B.Tech (Hons) in Metallurgical Engineering from IIT-Kharagpur in 1985 and PhD
in Materials Science and Engineering from The Ohio State University, USA in
1988 and joined DRDO in 1989.
SPORTS
1. Classic Football Academy bag AIFF U17 title: Classic
Football Academy retained the All-India Football Federation Under 17
Elite Youth League 2023-24 Title beating Sudeva Delhi FC 2-1 at the Nagoa
Panchayat Ground, Goa. Played on the well-maintained turf of Nagoa in Goa, the
two teams dished out a lively display of attacking football, much to the
delight of the sparse crowd.
2. Ravi Shastri joins Cricket Australia’s Multicultural
Initative: Cricket Australia named former Pakistan and Indian stars Wasim
Akram and Ravi Shastri among the 54 representatives of its ‘Multicultural
Ambassadors Program’. Cricket Australia is proud to launch its Multicultural
Ambassador Program, naming 54 people with diverse background and experience
across government, business, sport, media and community as the as the inaugural
representatives. Inaugural ambassadors include Usman Khawaja, Mel Jones, Wasim
Akram, Ravi Shastri, Lisa Sthalekar, Kishwar Chowdhury, Alana King, Peter
Varghese, Swati Dave and Fawad Ahmed.
BANKING AND FINANCE
1. TCS gets core banking transformation deal from
Kuwait’s Burgan Bank: Tata Consultancy Services (TCS) has bagged
a deal to modernize the core banking technology of Burgan Bank, a leading
commercial bank in Kuwait. TCS will help Burgan Bank consolidate multiple
standalone legacy applications into a contemporary universal banking solution
that drives innovation and strengthens customer relationships. Burgan Bank is
one of the youngest commercial banks in Kuwait, with a regional network of over
160 branches and 360 ATMs.
2. Goldman Sachs raises India’s GDP growth forecast to
6.7 percent for FY24: Global investment bank Goldman Sachs has
raised India’s GDP growth forecast to 6.7 percent for calendar year 2024. The
latest data released by the bank said, they expect a sustained growth momentum
with additional fiscal space on account of a bumper dividend transfer from the
RBI. In India, growth momentum remains strong and core inflation is expected to
bottom out in April-June.
3. RBI imposes ₹1-crore penalty on ICICI Bank, ₹91 lakh
on YES Bank: The Reserve Bank of India has imposed a penalty of
₹1 crore on ICICI Bank for non-compliance with certain directions on
‘Loans and Advances – Statutory and Other Restrictions’. The statutory
inspection of the bank for FY22 revealed that the bank had sanctioned term
loans to certain entities in lieu of or to substitute budgetary resources
envisaged for certain projects, and without undertaking due diligence on the
viability and bankability of the projects to ensure that revenue streams from
the projects were sufficient to take care of the debt servicing obligations.
4. Govt to get Rs 3,662 crore from LIC as dividend:
The Government of India will get Rs 3,662 crore as dividend for
being Life Insurance Corporation (LIC) of India’s largest shareholder. This
comes after the country’s largest insurer declared an interim dividend of Rs 6
per share. The government owns 96.5 percent stake in the insurer or
6,10,36,22,781 shares. Gross non-performing asset (GNPA) stood at 2.01. percent
against 2.56 percent in the year-ago period, LIC said
AWARDS AND HONOURS
1. Payal Kapadia Scripts History; All We Imagine as Light
Wins Grand Prix at Cannes: Indian filmmaker Payal Kapadia made history by
winning the country’s first ever Grand Prix Award at the 77th Cannes Film
Festival. Her Malayalam-Hindi film All We Imagine as Light stars Kani Kusruti
and Divya Prabha as nurses working in Mumbai. The movie also stars Chhaya Kadam
and Hridhu Haroon. The Grand Prix is the festival’s second-highest honour after
the Palme d’Or which went to Sean Baker’s Anora. After Shaji Karun’s Swaham,
which competed for the Palme d’Or at the 1994 Cannes, Kapadia’s film was the
first Indian title in 30 years to be selected for the prestigious Competition
section. Kapadia is also the first Indian woman to be nomination in the
category.
2. NHPC honoured with ‘The Economic Times HR World Future
Ready Organization Award 2024-25’: NHPC, India’s premier hydropower company has
been conferred with the prestigious ‘The Economic Times HR World Future Ready
Organization Award 2024-25’. The Award was received by Uttam Lal, Director
(Personnel), NHPC along with Lucas Guria, Executive Director (HR) and a team of
NHPC officers at the Awards Ceremony held in Mumbai. The Award has been given
to NHPC in recognition for its future preparedness in the areas of upskilling
of its employees, ESG interventions, DE&I initiatives, constant
technological upgradations, Employee Engagement processes, robust Corporate
Governance strategies etc. which establishes it as a trusted brand amongst all
its stakeholders.
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