Daily GK Update- 5th May, 2024

 NATIONAL UPDATES:

 

1. Gautam Singhania appointed as MD of Raymond: Raymond has re-appointed Gautam Hari Singhania as its managing director for a term of five years effective from July 1, 2024. Singhania, a commerce graduate, assumed the role of chairman and managing director of Raymond in September 2000.Over the years, he has been instrumental in strategically restructuring the Raymond Group, including the divestment of its non-core businesses of Steel, Cement, and Synthetics.

 

2. Ujjivan SFB names Carol Furtado as Executive Director: Ujjivan Small Finance Bank has appointed Carol Furtado as executive director for three years with effect from May 1. Ms Furtado has been with the bank since its inception and assumed various key positions including chief human resource officer, head of operations and service quality and chief business officer. Furtado has over 29 years of banking experience in retail banking and non-banking finance company domains. She was instrumental in the organization’s transition from NBFC-MFI to a small finance bank.

 

INTERNATIONAL UPDATES:

 

1. India & Nigeria to finalise Local Currency Settlement System Agreement: India and Nigeria have agreed to an early conclusion of the Local Currency Settlement System Agreement to strengthen bilateral economic ties. Under the local currency settlement system, the trade will be settled in India’s local currency and Nigerian local currency, Nigerian naira. This was decided at the 2nd session of the India-Nigeria Joint Trade Committee held in Abuja, Nigeria.

 

2. India at 159 among 180 countries in World Press Freedom Index: India ranked 159 among 180 countries in the latest annual World Press Freedom Index released by Reporters Without Borders (RSF, short for Reporters sans frontières in French), an international non-profit organization. India had ranked 161 in the 2023 list. Meanwhile, Pakistan ranked seven spots above India at 152. It had ranked 150 in 2023. Norway topped the ranking, while Denmark was on the second rank in World Press Freedom Index. Sweden ranked third on the list.

 

3. FLiRT: New COVID-19 Variants Increase Concern in US: A series of COVID-19 variants within the Omicron JN.1 lineage, known as FLiRT, including the KP.2 and KP 1.1 variants, is rapidly spreading in the United States, exhibiting new mutations which increase their contagiousness. According to media reports, the symptoms ..

 

4. India, Kenya to Discuss Cheetah Sourcing for Wildlife Sanctuary: India has expressed interest in sourcing cheetahs from Kenya for the next stage of Project Cheetah. A delegation of Kenyan officials is due to visit India later this month to discuss the possible translocation, including the number of cheetahs they ..

 

5. Goldene: Swedish Scientists Create First Freestanding 2D Gold Sheet: Scientists at Sweden’s Linköping University have recently made a significant scientific breakthrough by creating the first free-standing sheet made of gold, which is only one atom thick. This 2D sheet, named “goldene,” is similar to graphene and marks the first ..

 

6. Panama Elects Conservative Jose Mulino as President: Jose Raul Mulino, a conservative candidate and former Minister of Public Security, was declared the winner of the presidential election in Panama on May 5, 2024. He secured 34% of the vote, outpacing his closest rival, Ricardo Lombana, who received ..

 

7. Russian Announcement of Drills Simulating Tactical Nuclear Weapons Use: Russia’s Defence Ministry has recently announced its decision to conduct exercises simulating the use of tactical nuclear weapons. This announcement came shortly after senior Western officials made statements about the ongoing conflict in Ukraine, which Russia described as provocative. The ..

 

OTHER UPDATES:

DEFENCE

 

1. Gagan Strike-II: Indian Army, IAF Conduct Joint Exercise in Punjab: The Indian Army’s Kharga Corps, part of the Army’s Western Command, recently concluded a three-day joint military exercise Gagan Strike-II with the Indian Air Force (IAF) in Punjab. The primary goal of Gagan Strike-II was to refine the processes involving ..

 

SCIENCE AND TECHNOLOGY

 

1. Scientists Develop ‘All-in-One’ Broad Coronavirus Vaccine: In the wake of the COVID-19 pandemic, researchers have recognized the urgent need for vaccines that can provide protection against not just one, but potentially multiple coronavirus strains, including those yet undiscovered. On May 6, 2024, a groundbreaking study was ..

 

2. Sun Releases Two Powerful Solar Flares, Causes Blackouts: In the past week, the Sun has emitted two significant solar flares from a newly identified sunspot, AR3663, causing impacts such as radio blackouts in several parts of the world. These flares occurred within six hours of each other, signaling ..

 

 

 

BANKING AND FINANCE

 

1. RBI imposes monetary penalty on three co-operative banks for rule violations: The Reserve Bank of India (RBI) has imposed monetary penalty of three co-operative banks for rule violations.

These banks are Lokmangal Co-operative Bank, The Udgir Urban Co-operative Bank, and The Satara Sahakari Bank. The central bank imposed Rs 5 lakh penalty on Lokmangal Co-operative Bank, Rs 2 lakh on The Satara Sahakari Bank, and Rs 1 lakh on The Udgir Urban Co-operative Bank.

 

2. OECD raises the Indian economy growth rate forecast to 6.6% in 2024-25: The Organisation for Economic Co-operation and Development (OECD) has raised its growth forecast for India by 40 basis points to 6.6 per cent for 2024-25. In its earlier report, it had projected a growth rate of 6.2 per cent for the Indian economy in 2024-25. It has also forecasted a growth rate of 6.6 % for 2025-26. Recently International Monetary Fund raised the expected growth rate of the Indian economy in 2024-25 to 6.8%

 

3. Neobanking startup Fi secures NBFC License from RBI: Neobanking startup Fi, backed by investors such as Peak XV and Temasek, has secured a non-banking finance company (NBFC) licence from the Reserve Bank of India, enabling it to provide loans from its own books. With this, Fi has joined the likes of Jupiter, Groww and Cred, all of which got into the lending business either by getting a fresh licence or by acquiring another NBFC. Acquiring an NBFC licence empowers fintechs to offer loans from their own books, thus establishing an asset base.

 

4. YES Bank collaborates with ANQ to launch Pi and Phi credit cards: YES Bank has partnered with Bengaluru-based financial services provider ANQ to unveil two new credit cards designed for Indian consumers. The Pi and Phi co-branded cards aim to offer unique features and benefits.

 

5. HDFC Life launched ‘No Jhanjhat Life Insurance Fatafat’ campaign: HDFC Life, a leading insurer in India, has unveiled its latest campaign, ‘No Jhanjhat Life Insurance Fatafat’. This campaign promises a seamless and swift life insurance purchasing experience, tailored for today’s fast-paced world. As the campaign’s protagonist navigates life’s challenges, each scene serves as an endearing analogy to the simplicity of purchasing insurance through HDFC Life’s online channel.

 

Daily GK Update- 4th May, 2024

 NATIONAL UPDATES:

 

1. India & Nigeria to finalise Local Currency Settlement System Agreement: India and Nigeria have agreed to an early conclusion of the Local Currency Settlement System Agreement to strengthen bilateral economic ties. Under the local currency settlement system, the trade will be settled in India’s local currency and Nigerian local currency, Nigerian naira.This was decided at the 2nd session of the India-Nigeria Joint Trade Committee held in Abuja, Nigeria.

 

2. Atanu Chakraborty reappointed as Chairman of HDFC Bank: The Reserve Bank of India has approved the re-appointment of Atanu Chakraborty as part-time Chairman of HDFC Bank for three years with effect from May 5.Chakraborty has been the Part-Time Chairman and Independent Director of the Bank since May 2021.He served the Government of India for 35 years as a member of Indian Administrative Service (IAS) in Gujarat cadre.He retired as Secretary to Government of India in the Ministry of Finance- Department of Economic Affairs (DEA) in April 2020.

 

3. Gautam Singhania appointed as MD of Raymond: Raymond has re-appointed Gautam Hari Singhania as its managing director for a term of five years effective from July 1, 2024. Singhania, a commerce graduate, assumed the role of chairman and managing director of Raymond in September 2000. Over the years, he has been instrumental in strategically restructuring the Raymond Group, including the divestment of its non-core businesses of Steel, Cement, and Synthetics.

 

4. Sanjaya Kumar Mishra appoints as head of GST Appellate Tribunal: The Appointment committee of Cabinet has approved the appointment of Sanjaya Kumar Mishra as President GST Appellate Tribunal (GSTAT) for 4 years. Mishra is a former Chief Justice of Jharkhand High Court.

The selection was made on the recommendations of a Search-Cum-Selection Committee. This will speed up the process of making the GSTAT functional at earliest. GSTAT will have one Principal Bench located at Delhi and 31 State benches located at various locations across States.

 

5. 4 May – Coal Miners Day : Coal Miners Day is observed annually on May 4 in India. It honours the hard work and sacrifices of coal miners around the world. The day reminds us of its vital role in providing energy for homes, industries, and communities. Coal mining is a really important job for lots of people. This day helps us understand the tough things coal miners deal with, like staying safe and healthy while they work. Coal Miner’s Day started in 1952 when the Mines Act was made. This law aimed to help coal miners by giving them medical care, safety rules, and rescue places.

 

 

INTERNATIONAL UPDATES:

 

1. India at 159 among 180 countries in World Press Freedom Index: India ranked 159 among 180 countries in the latest annual World Press Freedom Index released by Reporters Without Borders (RSF, short for Reporters sans frontières in French), an international non-profit organization. India had ranked 161 in the 2023 list. Meanwhile, Pakistan ranked seven spots above India at 152. It had ranked 150 in 2023. Norway topped the ranking, while Denmark was on the second rank in World Press Freedom Index. Sweden ranked third on the list.

 

2. 4 May – International Firefighters Day: International Firefighters’ Day is observed every year on May 4. It honour the brave men and women who risk their lives to keep communities safe from fires and other emergencies. International Firefighter’s Day traces its origins back to a tragic event in Australia. On December 2, 1998, five firefighters lost their lives while battling a fierce blaze in Linton, Victoria.

 

3. India, Kenya to Discuss Cheetah Sourcing for Wildlife Sanctuary: India has expressed interest in sourcing cheetahs from Kenya for the next stage of Project Cheetah. A delegation of Kenyan officials is due to visit India later this month to discuss the possible translocation, including the number of cheetahs.

 

4. Putin Inaugurated for Fifth Term Amid Western Boycott: On May 7, 2024, Vladimir Putin has been inaugurated as the President of Russia for a historic fifth term. This followed a March election victory categorised by significant control over electoral proceedings. Despite broad international criticism regarding electoral fairness and ..

 

OTHER UPDATES:

DEFENCE

 

1. BSF: On-request posting, Airfare booking etc. in New Guidelines: The Border Security Force (BSF) has introduced new guidelines outlined by the Directorate General (DG) for non-gazetted officers in the force with the aim of improving job satisfaction. The new guidelines come against the backdrop of a high number of ..

 

SCIENCE AND TECHNOLOGY

 

1. Marine Heatwaves Trigger Widespread Coral Bleaching in Lakshadweep Sea: Researchers at the Central Marine Fisheries Research Institute (CMFRI) reported widespread bleaching of coral reefs in the Lakshadweep Sea due to marine heatwaves. Extensive surveys across Lakshadweep islands revealed a significant percentage of hard coral species undergoing serious bleaching due

 

2. NASA’s Ambitious Moon Rail and Mars Transit Projects: NASA’s Innovative Advanced Concepts (NIAC) programme is pushing the boundaries of space exploration with projects that many might deem the stuff of science fiction. These initiatives aim to transform how we interact with space through groundbreaking technologies such as lunar ..

 

BANKING AND FINANCE

 

1. Adani Green Energy secures $400 Million Finance from International Banks: Adani Green Energy Ltd (AGEL) has secured USD 400 million finance from a consortium of five international banks for its under-construction solar projects of 750 MW in Gujarat and Rajasthan. One of the projects is being developed in Rajasthan with 500 MW capacity and has a long-term power purchase agreement (PPA) with Solar Energy Corporation of India (SECI). The second one, with 250 MW capacity, is a standalone merchant power project being implemented at the world’s largest RE cluster in Khavda, Gujarat.

 

2. OECD raises the Indian economy growth rate forecast to 6.6% in 2024-25: The Organisation for Economic Co-operation and Development (OECD) has raised its growth forecast for India by 40 basis points to 6.6 per cent for 2024-25. In its earlier report, it had projected a growth rate of 6.2 per cent for the Indian economy in 2024-25. It has also forecasted a growth rate of 6.6 % for 2025-26. Recently International Monetary Fund raised the expected growth rate of the Indian economy in 2024-25 to 6.8%

 

3. Neobanking startup Fi secures NBFC License from RBI: Neobanking startup Fi, backed by investors such as Peak XV and Temasek, has secured a non-banking finance company (NBFC) licence from the Reserve Bank of India, enabling it to provide loans from its own books. With this, Fi has joined the likes of Jupiter, Groww and Cred, all of which got into the lending business either by getting a fresh licence or by acquiring another NBFC. Acquiring an NBFC licence empowers fintechs to offer loans from their own books, thus establishing an asset base.

 

Daily GK Update- 3rd May, 2024

 NATIONAL UPDATES:

 

1. India’s core sector growth slows to 5.2% in March from 7.1% in February: The growth in output of eight key infrastructure industries slowed to 5.2% year-on-year in March from 7.1% in February on the back of a sequential deterioration recorded by five of its constituents. Output decelerated in sectors like coal (8.7%), crude oil (2%), natural gas (6.3%) and steel (5.5%) during March, according to Ministry of Commerce and Industry data. Overall, in FY24, growth in the core sector stood at 7.5 per cent as against 7.8 per cent in FY23. All eight constituent sectors registered positive growth during the financial year with output of steel (12.3 per cent) leading the chart, followed by coal (11.7 per cent), cement (9.1 per cent), and electricity (7 per cent) in FY24.

 

2. Maushumi Chakravarty assumes charge of DG of Akashvani News: Senior Indian Information Service officer, Maushumi Chakravarty assumed the charge of Director General of Akashvani News. Chakravarty assumed the charge after superannuation of Ms. Vasudha Gupta as Principal DG. A 1991 batch IIS officer, Ms Chakravarty has vast experience of working in several media organizations of the I&B Ministry, including the Press Information Bureau and Central Bureau of Communication.

 

3. Shashi Bhushan Singh appointed as Secretary of National Jute Board: The Central Government has approved the appointment of Shashi Bhushan Singh (IRTS) as Secretary (at Director level) of National Jute Board, Kolkata under the Ministry of Textiles. Singh has been appointed to the post for a period of five years or until further orders, whichever is earlier. Singh is an Indian Railway Traffic Service (IRTS) of 2010-batch.

 

INTERNATIONAL UPDATES:

 

1. Solomon Islands elects Jeremiah Manele as new PM: Legislators in the Solomon Islands have elected former Foreign Minister Jeremiah Manele as their new prime minister. Manele, who has pledged to continue the Pacific nation’s China-friendly foreign policy, won 31 votes in a secret ballot. His opponent, longtime opposition leader Matthew Wale, secured 18 votes.

 

2. 2 May – World Tuna Day: World Tuna Day is observed annually on May 2. The day is dedicated to raising awareness about the decline in tuna stocks worldwide and the need to effectively implement international regulations to safeguard future tuna supplies. Tuna is a highly nutritious and valuable fish that is a significant source of food for both developing and developed countries. It is essential to maintain healthy and sustainable tuna populations for future generations.3.

 

3. 3 April – World Press Freedom Day: World Press Freedom Day is observed every year on 3 May.

The day is commemorated to highlight the significance of press freedom globally and to recognize the challenges encountered by journalists. Theme 2024 -A Press for the Planet: Journalism in the Face of the Environmental Crisis. The day also pays tribute to all the journalists who have lost their lives.

 

OTHER UPDATES:

 

SPORTS 

 

1. ICC Imposes 5-Year Ban on West Indies Cricketer Devon Thomas: The International Cricket Council (ICC) has imposed a five-year period of ineligibility from all cricket on West Indies player Devon Thomas after he accepted breaching seven counts of the anti-corruption codes of Sri Lanka Cricket (SLC), the Emirates Cricket Board (ECB) and the Caribbean Premier League (CPL)

Thomas admitted to seven charges, including those related to match-fixing. Thomas was provisionally suspended on May 23 last year and his sentence will be backdated to that time. ICC released a statement on May 2, saying that Thomas would have 18 months of the punishment suspended.

 

2. Amul to sponsor USA’s cricket team in T20 WC: Amul will be the lead arm sponsor for USA’s cricket team that will participate in ICC Men’s T20 World Cup 2024 which commences on June 1.

The opening match of the tournament will be played between USA and Canada in Dallas. This association with Gujarat Cooperative Milk Marketing Federation (GCMMF), responsible for marketing milk and milk products under the brand name Amul, signifies a significant step towards expanding and popularizing cricket across the nation.

 

BANKING AND FINANCE

 

1. Groww & Worldline join growing club of India’s online payment aggregators: Financial services platform Groww and digital payment processing company Worldline ePayments have secured RBI licence to operate as online payment aggregators. With this, the number of firms getting the Reserve Bank of India (RBI) nod to operate as payment aggregators has touched 20 in the first four months of calendar year 2024. Groww has secured the licence for its UPI payments platform Groww Pay.

 

2. NPCI inks pact with Bank of Namibia for developing UPI: NPCI International Payments Limited (NIPL) has signed an agreement with the Bank of Namibia (BoN) to support them in developing an instant payment system like Unified Payment Interface (UPI) for Namibia. The partnership seeks to help Namibia modernise its financial ecosystem. This includes improving accessibility, affordability and connectivity with both domestic and international payment networks, and interoperability.

 

AWARDS AND HONOURS

 

1. International Chess Federation awards Grandmaster title to Indian Chess V Ramesh Babu: Indian Chess Prodigy, Vaishali Ramesh Babu has been awarded the title of Grandmaster by the International Chess Federation (FIDE). Vaishali is the third Indian female Grandmaster, joining Koneru Humpy and Harika Dronavalli. Vaishali completed the requisite 2500 ELO points at the Llobregat Open tournament in Spain, last year. However, the title was officially given to her only recently following the FIDE Council meeting during the Candidates Tournament in Toronto last month.

 

2. Purnima Devi Barman received ‘Green Oscar’ Whitley Gold Award 2024: A wildlife biologist from Assam, Dr Purnima Devi Barman has won her second Whitley Gold Award, also known as the Green Oscar. She was honoured for her conservation effort of the endangered bird, Hargila or Greater Adjutant Stork and its wetland habitat. This is the second time that Dr Barman has been honoured with the Whitley Gold Award. She was also awarded the prize in 2017.

 

Daily GK Update- 2nd May, 2024

 NATIONAL UPDATES:

 

1. India to host the 46th Antarctic Treaty Consultative Meeting: India will host the 46th Antarctic Treaty Consultative Meeting (ATCM 46) and the 26th Meeting of the Committee for Environmental Protection (CEP 26) from 20 to 30 May 2024 in Kochi, Kerala. The meeting is organized by the Ministry of Earth Sciences (MoES) through the National Centre for Polar and Ocean Research (NCPOR), these meetings aim to facilitate global discussions on environmental conservation and scientific cooperation in Antarctica.

 

2. India Reduces Windfall Tax on Petroleum Crude: India has cut its windfall tax on petroleum crude to 8,400 Indian rupees ($100.66) a metric ton from 9,600 rupees with effect from May 1.

The tax, which is revised every fortnight, was left unchanged at zero for diesel and aviation turbine fuel. The government had on April 16 raised the windfall tax on petroleum crude to 9,600 rupees a metric ton from 6,800 rupees. This tax is levied as the Special Additional Excise Duty (SAED).

 

3. Hitesh Sethia appointed as MD & CEO of Jio Financial Services: Corporate Affairs Ministry (MCA) has given its nod for appointment of Hitesh Kumar Sethia as Managing Director and CEO of Jio Financial Services for three years period. The appointment effective from November 15, 2023, is valid for three years, Jio Financial Services said in a regulatory filing.

 

4. Pratima Singh appointed as Director in DPIIT: Pratima Singh (IRS) has been selected for the appointment as Director of the Department of Promotion of Industry and Internal Trade (DPIIT).

She has been selected for the appointment under the Central Staffing Scheme for a period of five years. Singh is an Indian Revenue Service (IRS) officer of 2009-batch. She was recommended for the Central deputation by the Department of Revenue.

 

INTERNATIONAL UPDATES:

 

1. India to train Bangladeshi’s civil servants for the next 5 years: The government of India has signed an agreement with the government of Bangladesh to renew the Memorandum of Understanding (MoU) to train 1500 Bangladeshi officers from 2025 to 2030. The agreement was signed by the Department of Administrative Reforms and Public Grievances (DARPG), the government of India and the Bangladeshi Ministry of Public Administration, Government of Bangladesh. An MoU was signed between the National Centre for Good Governance (NCGG), India and the Bangladesh Ministry of Public Administration in 2014 to train the Bangladeshi civil servants.

 

OTHER UPDATES:

DEFENCE

 

1. Indian Army and Punit Balan Group develop Constitution Park in Pune: Constitution Park, jointly developed by Indian Army and Punit Balan Group, was inaugurated in The park was inaugurated by GOC-in-C, Southern Command, Lt Gen Ajai Kumar Singh. It delineates our Fundamental Rights and underscores our Fundamental Duties. It’s crucial for every citizen to understand their rights and fulfill their duties.

 

2. DRDO successfully test SMART missile system for Indian Navy: The Defence Research and Development Organisation (DRDO) has successfully tested the next-generation Supersonic Missile-Assisted Release of Torpedo (SMART) system from Dr APJ Abdul Kalam Island off the coast of Odisha. SMART is a next-generation missile-based light-weight torpedo delivery system designed and developed by DRDO to enhance the anti-submarine warfare capability of the Indian Navy far beyond the conventional range of lightweight torpedoes. This canister-based missile system incorporates several advanced subsystems, including a two-stage solid propulsion system, electromechanical actuator system, and precision inertial navigation system.

 

SCIENCE AND TECHNOLOGY

 

1. China to launch Chang’e-6 Lunar probe mission: China is set to launch the Chang’e-6 lunar probe on a round trip to the Moon. It aims to gather soil and rock samples from the far side of the Moon, a region that has remained permanently hidden from Earth’s view. This will be the first-ever attempt to retrieve lunar samples from the far side, providing valuable insights into the early evolution of the Moon and the inner solar system. This mission will also involve the first-ever ascent from the Moon’s far side during its return journey to Earth.

 

2. China launches sea trials for next-generation aircraft carrier: China has launched sea trials for the Fujian, its third and most advanced aircraft carrier. The start of tests by the Chinese navy came nearly two years after the aircraft carrier was first unveiled in June 2022. The Fujian, entirely designed and built domestically, is larger and more advanced than the Shandong, commissioned in late 2019, and the Liaoning, which China bought second-hand from Ukraine in 1998.

 

BANKING AND FINANCE

 

1. GST revenue collection hits record high of Rs 2.10 lakh cr in April: India’s Gross Goods and Services Tax (GST) collections hit a record high of Rs 2.10 lakh crore in April, growing 12.4 per cent on year-on-year basis. GST collection in March stood at Rs 1.78 lakh crore. Previously, the highest-ever GST collection figure stood at Rs 1.87 lakh crore in April 2023. This is also the first time GST collection has crossed the ₹2 trillion mark, since the unified indirect tax regime was rolled out seven years ago.

 

2. UPI transactions dip marginally in April to Rs 19.64 trn: Unified Payment Interface (UPI) transactions declined in volume and value in April by 1 per cent and 0.7 per cent, compared to March 2024. Transactions stood at Rs 19.64 trillion in value terms, down from Rs 19.78 trillion in March. There were 3 billion transactions in April, compared to 13.44 billion in March. Y-o-Y, UPI transactions increased by 50 per cent in terms of volume and 40 per cent in value. In February 2024, transactions stood at 12.10 billion and Rs 18.28 trillion, respectively. Immediate Payment Service (IMPS) transactions declined by 7 per cent in value and 5 per cent in volume in April compared to March.

 

3. NaBFID expects cumulative loan sanctions to top ₹2-lakh cr in FY25: The Government-owned National Bank for Financing Infrastructure and Development (NaBFID) expects its loan sanctions pipeline to swell to about ₹2 lakh crore by March-end 2025 against about ₹1 lakh crore as of March-end 2024. To support loan growth, the development financial institution (DFI) is planning to mop up about ₹53,000 crore this year via bond market, bank and multilateral credit lines. The All India Financial Institution was set up in 2022 under the NABFID Act, 2021, as the principal entity for infrastructure financing in the country.

 

Daily GK Update- 1st May, 2024

 NATIONAL UPDATES:

 

1. Mines Ministry inks MoU with Shakti Sustainable Energy Foundation for knowledge support on critical minerals: The Ministry of Mines has signed a Memorandum of Understanding (MoU) with the non-profit, Shakti Sustainable Energy Foundation, to enhance the knowledge base of the critical minerals processing industry in India. This partnership will help in creating a robust domestic critical minerals processing sector to support the country’s economic growth and enable a transition to clean sources of energy. The partnership will help promote India as a global hub for critical minerals processing and make it a self-reliant and globally competitive player in the critical minerals arena.

 

2. UP govt to establish cyber police stations in 57 districts: The Uttar Pradesh government is to establish cyber police stations in 57 districts after the parliamentary polls with each cyber police station having 25 posts for officers and employees. The state government plans to create a total of 1,425 posts in the designated 57 police stations across the state. The state government, in response to the rising incidents of cybercrime nationally and globally, has decided to establish cyber police stations across all 75 districts of the state.

 

3. NHPC Limited to collaborate with Ocean Sun for implementation of Floating Solar Energy Technology: NHPC Limited, the largest organization for hydropower development in India, has signed a Memorandum of Understanding with M/s Ocean Sun, a Norwegian company operating as a technology provider to the floating solar industry. As per the MoU, NHPC and Ocean Sun will explore key areas of cooperation for demonstration of Ocean Sun’s floating solar energy technology based on photovoltaic panels. The panels would be mounted on hydro-elastic membranes, at relevant sites to be identified by NHPC.

 

4. Bharat Biotech promoter Krishna Ella becomes new IVMA president: Bharat Biotech co-founder Krishna M Ella was appointed president of the Indian Vaccine Manufacturers Association (IVMA) for a two-year term from April 2024 to 2026. Ella takes over the presidency from Adar C Poonawalla, who held the post from 2019 to March 2024. Adar Poonawalla has served as the chief executive officer of Serum Institute of India since 2011. SII became the first Indian company to roll out the AstraZeneca and Oxford vaccine, under the brand name Covishield, during COVID-19.

 

5. 1 May – Maharashtra & Gujarat Foundation Day: Maharashtra Day and Gujarat Day is celebrated every year on May 1st to commemorate the formation of the state in 1960. Following the implementation of the Indian constitution, the country was divided into states on the basis of linguistic borders. At that time, Bombay was recognised as a state under the State Recognition Act of 1956. Bombay had people speaking languages such as Marathi, Konkani, Gujarati, and Kutchi. However, this merger of various vernaculars into one state did not work out and resulted in uproar and distress. The sanctity of the state was being jerked time and again due to these linguistic differences.

 

INTERNATIONAL UPDATES:

 

1. IndiGo airline appoints former Porqueras Orea as ‘Chief of Transformation’: IndiGo has named Isidro Pablo Porqueras Orea, former COO of European airline Volotea, as a chief of transformation. Orea has 25 years of professional experience in different functional areas such as operations, commercial, strategy and finance. He was with European airline Volotea from 2016-2023 and served as their COO for the last 5 years. Currently, Wolfgang Prock-Schauer is the COO of India’s largest airline.

 

2. 1 May – International Labour Day: International Labour Day is observed every year on 1 May. It’s a day dedicated to honouring the contributions of working people in every industry and sector. It’s not just about celebrating their hard work, but also empowering them to be aware of their rights. In 1886, a large demonstration happened in America where the labours demanded eight hours of work on a daily basis. However, soon the demonstration went out of hand and in Chicago and lot of people got hurt.

 

OTHER UPDATES:

DEFENCE

 

1. Dinesh Tripathi take charge as 26th Naval Chief: Admiral Dinesh K. Tripathi assumed command of the Indian Navy as the 26th Chief of the Naval Staff. He succeeds Admiral R. Hari Kumar who retires upon superannuation after over 40 years of service. Admiral Dinesh Kumar Tripathi is an alumnus of Sainik School Rewa, Madhya Pradesh and the National Defence Academy. He was commissioned in the Indian Navy in 1985. He rose through the ranks to become the Commander of the Western Naval Command before becoming the vice-admiral (vice-chief) of the Indian Navy in June 2019. He was also made the commandant of the prestigious Indian Naval Academy at Ezhimala, Kerala. He was the director general of naval operations from July 2020 to May 2021.

 

SPORTS 

 

1. Velavan Senthil Kumar Wins His Eighth Professional Squash Association Tour Title In Paris: India’s Velavan Senthilkumar won his eighth Professional Squash Association (PSA) Tour title yesterday by winning the Batch Open, a PSA Challenger event, at the Societe Sportive du Jeu de Paume in Paris. World No. 58 Senthilkumar, the top seed, beat Frenchman Melvil Scianimanico 11-6, 11-9, 11-6 to clinch the title. The final was held as part of the 12,000 dollars PSA Challenger Tour event.

2. Rohit Sharma to lead Indian team for the 2024 T20 Cricket World Cup: The five-member Senior Men’s Cricket Selection Committee, headed by Ajit Agarkar, announced the 15-member Indian squad for the 2024 ICC men’s T20 cricket World Cup. The 9th ICC Men’s T 20 Cricket World Cup will be held from 1-29 June 2024. It is being co-hosted by the West Indies and the United States of America. Nine of the 15 players selected, including captain Rohit Sharma and Virat Kohli, played in the 2022 ICC T20 World Cup. which lost to England in the semi-finals. India has been placed in group A along with Pakistan, Canada, the United States and Ireland.

 

3. India to host BWF World Junior Badminton Championships 2025: India will host the BWF World Junior Championships 2025 at the National Centre of Excellence in Guwahati. The 2025 edition in India will mark the return of the BWF Junior World Championships to the country for the first time since 2008 when Pune hosted the event. The team as well as individual events will be held at the National Centre of Excellence, which was inaugurated by the Badminton Association of India (BAI) last year. It boasts 16 badminton courts, a 4,000 square feet gymnasium, a hostel for players and a dedicated 2,000 square feet physiotherapy centre.

 

BANKING AND FINANCE

 

1. Indian economy likely to grow over 7% in 2024-25: Economic think tank NCAER: The Indian economy could grow more than 7 per cent during the current fiscal amid a benign global outlook and expected above-normal monsoon, according to economic think tank NCAER. In its April 2024 issue of Monthly Economic Review (MER), NCAER said a range of high-frequency indicators reveal the resilience of the domestic economy with the Purchasing Managers’ Index (PMI) for manufacturing at a 16-year high and UPI, the leading digital payments system, touching the highest volume since its inception in 2016.

 

AWARDS AND HONOURS

 

1. Alok Shukla wins prestigious Goldman Environmental Prize 2024: Alok Shukla, convenor of the Chhattisgarh Bachao Andolan and founding member of the Hasdeo Aranya Bachao Sangharsh Samiti, has been awarded the 2024 Goldman Prize from Asia. Shukla has been declared winner for his efforts to save the forests of Hasdeo Aranya in Chhattisgarh. Alok Shukla led a successful community campaign that saved 445,000 acres of biodiversity-rich forests from 21 planned coal mines in the central Indian state of Chhattisgarh.