Daily GK Update- 31st May, 2024

 

NATIONAL UPDATES:

 

1. Mines Ministry organizes Workshop on Granites and Marble Mining: Ministry of Mines organized a workshop on Granite and Marble mining in Bengaluru. V L Kantha Rao addressed the inaugural session of workshop. Additional Chief Secretary & Development Commissioner, Government of Karnataka, Dr. Shalini Rajneesh delivered the keynote address on the occasion. This initiative, driven by data collected from central agencies, aims to enhance transparency and efficiency in the mining sector.

 

2. Sourav Ganguly became Chief Guest for Supply Chain Conference 2024: Sourav Ganguly, ex-BCCI President, has been named the Chief Guest for the International Procurement and Supply Chain Conference in Mumbai, 2024. The conference will host 400+ delegates, focusing on “India Tomorrow: Economic Supremacy” to enhance India’s economy. The prestigious IPSC Awards 2024 will be presented, recognizing excellence in supply chain management.

 

3. Government raises Retirement & Death Gratuity Limits to 25 Lakh: The maximum limit of retirement gratuity and death gratuity has been revised by the government from 20 lakh to 25 lakh rupees. Ministry of Personnel, Public Grievances and Pensions has issued an official memorandum in this regard. The revised limit will come into effect from 1st January 2024.

 

4. Shah Rukh Khan appoints brand ambassador of Muthoot Pappachan Group: Muthoot Pappachan Group (MPG), popularly known as Muthoot Blue, has roped in Shah Rukh Khan as its brand ambassador. This strategic collaboration represents a significant milestone for MPG, reinforcing its brand presence, and a new way of connecting with a diverse audience across the country. Muthoot Pappachan Group is the promoter of leading NBFCs including Muthoot FinCorp Limited (flagship Company of the Group), Muthoot Microfin Limited, Muthoot Capital Services Limited and Muthoot Housing Finance Company Limited. Chairman of the Muthoot Pappachan Group – Thomas John

 

5. IRDAI approves Sandeep Batra as ICICI Prudential Board chairman: The Insurance Regulatory and Development Authority of India (IRDAI) has approved the appointment of Sandeep Batra, as Chairman of the Board of Directors of ICICI Prudential. The appointment of Batra will be effective from June 30, 2024. Batra has been associated with ICICI group since September 2000 and is currently an Executive Director on the Board of ICICI Bank since July 2018, incharge of Corporate Centre. Batra has also served as Executive Director, CFO at ICICI Prudential life and Group Compliance officer at ICICI Bank.

 

 

 

 

INTERNATIONAL UPDATES:

 

1. NHAI launches initiative to attract the UAE’s investments for India’s highway expansion: The National Highways Authority of India (NHAI) has launched an initiative to monetize its infrastructure, seeking investments from the UAE to sustain and enhance India’s expanding national highway network. NHAI’s delegation is conducting high-level meetings and roadshows in Dubai and Abu Dhabi to attract foreign investment via NHAI Infrastructure Investment Trusts (InVITs). At a Dubai roadshow with the Consulate General of India and SBICAPS UAE, Yadav highlighted India’s highway expansion from 70,000 to 140,000 kilometres in a decade, driven by significant government investment.

 

2. 31 May – World No-Tobacco Day: World No-Tobacco Day is observed every year on 31 May. Objective – To raise awareness about the dangers of tobacco use and advocate for effective policies to reduce consumption. Theme 2024 – Protecting Children from Tobacco Industry Interference In 1987, Member States of the World Health Organization designated 31 May as World No Tobacco Day. This was done to draw attention to the global tobacco epidemic, and the preventable death and disease it causes.

 

 

OTHER UPDATES:

DEFENCE

 

1. Armed Forces Medical Services & IIT Hyderabad ink MoU for Collaborative Research and Training: The Armed Forces Medical Services (AFMS) has signed an MoU with the Indian Institute of Technology (IIT) Hyderabad to collaborate on research and training. The MoU aims to foster innovation and research in developing novel medical devices and addressing health issues specific to soldiers serving in varied terrains. IIT Hyderabad, with its departments of Biotechnology, Biomedical Engineering, and Bioinformatics, will provide the necessary technical expertise to tackle the diverse medical challenges faced by the Armed Forces.

 

SCIENCE AND TECHNOLOGY

 

1. South Korea launches its First Space Agency: The Asian Development Bank (ADB) has sanctioned $6 billion in sovereign lending to India in the calendar year 2023. The loan sanctioned by ADB in 2023 will be used to finance urban development projects, promote the power sector, support industrial corridor development, support horticulture, enhance connectivity and build India’s climate resilience. Sovereign means supreme power, and in India the government of India is sovereign. Thus, a sovereign loan means a loan given to the government of India. It includes a loan the ADB gives for a project in a particular state.

 

2. Agnikul launches Agnibaan with India’s first 3D-printed rocket engine: India’s private space industry, Agnikul Cosmos successfully launched its SOrTeD mission, a single-stage launch vehicle demonstration powered by a semi-cryogenic 3D-printed engine. The mission, which lasted approximately two minutes, marked a major achievement for the company and the country in the development of indigenous space technology. The mission featured a 6.2-meter-tall single-stage launch vehicle with an elliptical nose cone and was equipped with advanced avionics architecture and autopilot software developed in-house. The Agnilet engine, the world’s first single-piece 3D-printed semi-cryogenic rocket engine, powered the vehicle.

 

BANKING AND FINANCE

 

1. RBI imposes Rs 36.38 lakh penalty on HSBC for violating Fema regulations: The Reserve Bank has imposed a fine of Rs 36.38 lakh on foreign lender HSBC for Foreign Exchange Management Act (FEMA) violations. The central bank said reporting requirements under the Liberalised Remittance Scheme of FEMA, 1999 were not followed by HSBC.

 

2. ADB approves $2.6 billion in Sovereign lending to India in 2023: The Asian Development Bank (ADB) has sanctioned $6 billion in sovereign lending to India in the calendar year 2023. The loan sanctioned by ADB in 2023 will be used to finance urban development projects, promote the power sector, support industrial corridor development, support horticulture, enhance connectivity and build India’s climate resilience. Sovereign means supreme power, and in India the government of India is sovereign. Thus, a sovereign loan means a loan given to the government of India. It includes a loan the ADB gives for a project in a particular state.

 

3. Capital Small Finance Bank, ICICI Lombard enter into bancassurance tie-up: Capital Small Finance Bank (CSFB) has forged a bancassurance tie-up with ICICI Lombard General Insurance Company Ltd.(ICICI Lombard), a private general insurer. Through this collaboration, CSFB will leverage its network and customer base to distribute ICICI Lombard’s suite of general insurance products, including health, motor, home, travel and rural insurance. This partnership will empower the bank’s customers to be adequately risk covered and access our wide suite of innovative and tech-driven insurance solutions. Currently, CSFB has 177 branches spread over 5 States and 1 Union Territory.

 

4. RBI projects 7% Real GDP growth in current financial year: The Reserve Bank of India has projected a 7 percent GDP growth in the current financial year. In its annual report, RBI said the real GDP growth for 2024-25 is projected to grow at 7 per cent with risks evenly balanced.

The Indian economy expanded at a robust pace in fiscal 2024, with real GDP growth accelerating to 7.6 percent from 7 percent in previous year. On May 22, the RBI’s Central Board of Directors approved the transfer of Rs 2.11 lakh crore as surplus to the government for FY 2023-2024.

 

 

 

AWARDS AND HONOURS

 

1. PFC receives CSR Champion Award 2024: Power Finance Corporation Limited (PFC) has been honoured with the Corporate Social Responsibility award in the Non-Fossil Fuel (NF) business category at the Outlook Planet Sustainability Summit & Awards 2024 held in Goa. PFC’s Chairperson & Managing Director (CMD) Parminder Chopra received the award from the Department of Administrative Reforms and Public Grievances’ Secretary V Srinivas in presence of officials from Department of Public Enterprises, IIT Goa and Outlook. The Outlook Planet Sustainability Summit & Awards 2024 brought together senior government policymakers and top management of Central Public Sector Enterprises (CPSEs) to discuss and showcase exemplary initiatives in sustainability.

 

 

Daily GK Update- 30th May, 2024

 

NATIONAL UPDATES:

 

1. Sanjay Kumar inaugurates Summer Fiesta 2024: Secretary of Department of School Education and Literacy, Sanjay Kumar has inaugurated the month-long “Summer Fiesta 2024” at the National Bal Bhavan, New Delhi. Summer Fiesta is a month-long camp comprising over 30 types of different activities for children aged between 5 to 16 years.It promises a myriad of engaging and innovative activities in the fields of Creative and Performing Arts, Science, and more, ensuring that every child finds something intriguing to explore and learn.The event will also feature eminent artists and guests who will participate in these special programmes, sharing their experiences and delivering captivating performances to inspire the children.

 

2. FICCI organized India Cold Chain and Logistics Summit in New Delhi: Federation of Indian Chambers of Commerce & Industry (FICCI) organized a summit in New Delhi to enhance India’s cold chain and logistics sector. The summit’s aims to promote collaboration and innovation to develop an integrated, sustainable, and efficient cold chain ecosystem for India’s perishable goods industry. The discussions aim to redefine logistics mechanisms across various sectors, including Pharma, Food, Oil, and Flowers.

 

3. Rakesh Ranjan appointed as Chairman of SSC: IAS Pradip Kumar Tripathi has been appointed as Secretary to Lokpal till 30th June. The Appointment Committee of the Cabinet has also approved the appointment of IAS Rakesh Ranjan as Chairman of Staff Selection Commission (SSC). IAS Amit Yadav of 1991 batch has been appointed as Officer on Special Duty in the department of Social Justice and Empowerment department. He will take over as Secretary after superannuation of incumbent secretary Saurabh Garg on 31st of July.

 

4. Vijay Khanduja appointed as India’s next High Commissioner to Cameroon: Diplomat Vijay Khanduja has been appointed as India’s next High Commissioner to Cameroon. Khanduja is presently posted as the Ambassador of India to Zimbabwe.

 

5. NARCL board recommends P Santhosh as MD & CEO: The board of National Asset Reconstruction Company (NARCL) has recommended P Santhosh for the post of managing director and chief executive officer of the state-owned bad bank. Santhosh has been interim CEO of NARCL since January, soon after N Sundar abruptly resigned as the CEO ahead of his term. Santhosh has been recommended for a three-year term by the NARCL board.

 

6. 30 May – Hindi Journalism Day: Hindi Journalism Day is observed every year on 30 May to honour the start of Hindi journalism that has enabled each person of the country to have access to proper information. The journey of Hindi journalism began on May 30, 1826, with publication of the first Hindi newspaper, ‘Udant Martand,’ started by Pt. Jugal Kishore Shukla. This day is dedicated to the special contribution of Hindi journalists working for public welfare, imbued with truth & courage. The Hindi publication of Udant Martand was a milestone in the history of Indian journalism. Udant Martand was published in Calcutta. The date of publication was May 30, 1826. Hindi Journalism has existed in the country for about 198 years.

 

INTERNATIONAL UPDATES:

 

1. Indian mountaineer Satyadeep Gupta becomes first person to scale Mt. Everest and Mt. Lhotse twice in one season: Indian mountaineer Satyadeep Gupta has scripted history by becoming the first person to scale Mt. Everest and Mt. Lhotse twice in one season. He also set another record by being the first Indian to traverse from Mt. Everest to Mt. Lhotse in 11 hours and 15 minutes.

Gupta conquered the 8,516 metre-high Mt. Lhotse, followed by towering 8,849 metre-high Mt. Everest. This historic achievement marks the first Double Dual Ascent of the world’s highest and the fourth highest peaks in a single season. Gupta had previously summited Mt Everest on May 21 and Mt Lhotse on May 22.

 

2. India offers $1 million aid to disaster-hit Papua New Guinea: The Government of India has granted $1 million as immediate assistance for Papua New Guinea, which has been hit by a devastating flood and landslip that has so far killed 2,000 people. As a close friend and partner under the Forum for India-Pacific Islands Cooperation (FIPIC) and as a gesture of solidarity with the friendly people of Papua New Guinea, GoI extends an immediate relief assistance of $1 million to support relief, rehabilitation and reconstruction efforts.

 

3. India assumes Chair of Colombo Process for 2024-26: India assumed the Chair of Colombo Process for 2024-26, for the first time since its inception. India looks to promote safe, orderly and legal migration. Colombo Process is a Regional Consultative Process of migrant worker origin countries from South and South East Asia. It serves as a forum for exchange of best practices on overseas employment.

 

4. 30 May – International Day of Potato: The first ever International Potato Day is observed this year. In December 2023, General Assembly announced that May 30 will be observed as International Potato Day every year. Theme 2024 – Harvesting Diversity, Feeding Hope Potatoes rank among the top five staple food items used throughout the world. The day will be celebrated to highlight the significance of potatoes from the Andean region to the world. The first ever International Potato Day will be observed this year on May 30.

 

OTHER UPDATES:

DEFENCE

 

1. DRDO Successfully Tests RudraM-II Missile: The Defence Research & Development Organisation (DRDO) has successfully flight-tested the RudraM-II air-to-surface missile. The missile was fired from a Su-30 MK-I aircraft of the Indian Air Force (IAF) off the coast of Odisha. The missile’s performance was validated through data captured by various range tracking instruments, including electro-optical systems, radar, and telemetry stations set up by the Integrated Test Range in Chandipur and on an on-board ship. RudraM-II is a solid-propelled air-launched missile designed for air-to-surface operations, capable of neutralizing various enemy assets. It incorporates advanced technologies developed by several DRDO laboratories.

 

SPORTS

 

1. India bags seven medals at the Asian Armwrestling Championship 2024: In Arm Wrestling, the Indian contingent has clinched a total of seven medals including one gold and six bronze at the Asian Championship, 2024 in Tashkent, Uzbekistan. Shrimant Jha, who participated in two categories, was the top performer for India. He won the gold medal in the left-hand para category, while he won the bronze medal in the right-hand para category. In the Masters category, Laxman Singh Bhandari secured two bronze medals, while Sachin Goyal won the bronze medal in the competitive right-hand Senior category. Meanwhile, in the Women’s Right and Left-hand categories, Ibi Lollen from Arunachal Pradesh clinched two bronze medals.

 

2. ICC Players of the Month for April 2024 announced: The International Cricket Council (ICC) has announced the winners of the ICC Player of the Month awards for April 2024. West Indies’s Captain Hayley Matthews has been named the ICC Women’s Player of the Month for her exceptional all-round performances that spearheaded the West Indies’ success in Pakistan across both ODI and T20I series. It is the third time that Matthews has claimed the monthly ICC award, with the star all-rounder adding the success in April to previous wins in November 2021 and October 2023. Ash Gardner (four times) is the only player to have won the women’s monthly award on more occasions than Matthews.

 

SCIENCE AND TECHNOLOGY

 

1. NASA Launches Small Climate Satellite to Study Earth’s Poles: NASA has successfully launched the first of two climate satellites into orbit, designed to study heat emissions at Earth’s poles. The satellite, part of the PREFIRE (Polar Radiant Energy in the Far-InfraRed Experiment) mission, was carried by Rocket Lab’s Electron rocket from the company’s Launch Complex 1 in Mahia, New Zealand. The PREFIRE mission consists of two shoebox-size cube satellites, or CubeSats, that will measure the amount of heat Earth radiates into space from the coldest and most remote regions on the planet.

 

BANKING AND FINANCE

 

1. HDFC Bank to stop SMS alerts for small UPI payments: HDFC Bank will stop sending SMS alerts for UPI transitions up to Rs 100 from June 25. The private lender said that SMS alerts won’t be pushed for incoming payments up to Rs 500 from the said date either. UPI transactions require the authorisation of a Personal Identification Number (PIN), a 4-6 digit pass code set by the customers as a security measure to ensure safe and approved transactions. For normal UPI the transaction limit is up to Rs 1 Lakh per transaction. India’s Unified Payments Interface (UPI) transactions reached an all-time high in 2023, with a total volume of 117.6 billion transactions and a value of Rs 183 trillion.

 

 

Daily GK Update- 29th May, 2024

 

NATIONAL UPDATES:

 

1. Fischer Medical Ventures makes India’s first indigenous MRI system: Chennai-headquartered Fischer Medical Ventures (FMVL) has manufactured its magnetic resonance imaging (MRI) systems domestically, claiming to be the first company in the country to achieve this. The company is developing its MRI systems at a production facility in the Andhra Pradesh MedTech Zone (AMTZ) in Visakhapatnam. AMTZ, India’s premier medical technology park, provides a conducive environment for production, with access to facilities and a skilled workforce.

 

2. Sterlite Technologies partners with Connexin for gigabit broadband: Sterlite Technologies Ltd partnered with UK-based Connexin to help deliver gigabit broadband connectivity in Nottinghamshire. This partnership is part of a £58 million government contract awarded to Connexin under Project Gigabit, aimed at bringing ultrafast broadband to rural areas. The company will utilise its smart fibre deployment services to connect approximately 12,000 hard-to-reach premises in Nottinghamshire, including areas such as Kirkby in Ashfield, Sutton-in-Ashfield, Annesley, and Newark on Trent. The initiative is expected to provide residents with broadband speeds of up to 1 Gbps, per the company.

 

3. Reliance Industries to begin construction on India’s first multimodal logistics park near Chennai: Conceptualised 12 years ago, India’s first Multimodal Logistics Park at Mappedu near Chennai will see the limelight as Reliance Industries starts construction in June. In 2022, the company beat Adani Group to win the bid for the Rs 1,424 crore project on 184.27 acres of land in Tiruvallur district. The project aims to facilitate efficient, cost-effective and value-added logistics services such as cargo aggregation and disaggregation, distribution, intermodal transfer, sorting, packing, and repacking. In 2022, the Centre awarded the contract to Reliance with Prime Minister Narendra Modi laying the foundation stone on May 26, 2022.

 

4. Apurva Chandra appointed as chairperson of Committee A Of 77TH WHA Event: Apurva Chandra, Union health secretary, Government of India, has been appointed as the Chairperson of the Committee A at the 77th World Health Assembly (WHA) by the WHO. Committee A is tasked with facilitating crucial discussions on a range of programmatic topics. These include universal health coverage, public health emergency preparedness and response, antimicrobial resistance, climate change, and sustainable financing for the World Health Organization (WHO).

India’s leadership in Committee A underscores its growing influence in global health governance. The World Health Assembly features sessions from three main committees: Plenary, Committee A, and Committee B.

 

 

 

INTERNATIONAL UPDATES:

 

1. WHO Organizes ‘Walk The Talk’ Yoga Session Event: For the upcoming occasion of International Yoga Day, Permanent Mission of India to the United Nations in Geneva and World Health Organization (WHO) yesterday organised a ‘Walk the Talk’ Yoga session event at Place des Nations. Union Health Secretary Apurva Chandra joined by Director General of WHO Tedros Adhanom Ghebreyesus and other senior officers of India delegation joined the event and re-energised themselves with yoga aasanas.

 

2. Purnima Shrestha conquers Mount Everest thrice in a single season: A 32-year-old mountaineer from Gorkha, Nepal, Purnima Shrestha has made history as the first woman in the world to climb Mount Everest three times in the same season, all in just 13 days. Her exceptional triple ascent beats the previous record of any woman summiteer to climb Everest thrice in a single season. She has climbed Everest four times, with a prior summit in 2018.

 

3. Nepal celebrated Its 17th Republic Day: Nepal has celebrated Its 17th Republic Day on 28 May.

Republic Day is associated with people’s movement and aspiration for change from monarchy to make Nepal a republic nation. The Nepal Army, Nepal Police and the Armed Police Force conducted march-past and cultural pageants on the occasion. A Nepal Army helicopter displayed a banner reading ‘Republic Day, 2081’ and cascaded flowers in Tundikhel. After then CPN Maoist’s armed conflict and seven parties’ peaceful movement, then King Gyanendra Shah had restored the House of Representatives on April 24, 2006, thereby returning the rule to the people’s representatives.

 

4. Gaurav Banerjee appoints as new CEO of Sony India: Japan’s Sony has appointed a Walt Disney executive, Gaurav Banerjee, as its new India chief executive to lead its television and other media businesses. Banerjee has resigned from Disney’s India unit where he was the head of content for its streaming service, Hotstar, and head of business for the company’s TV channels in Hindi-speaking markets. Last week, Sony said it was looking for a successor to its current India chief executive, N.P. Singh, who had decided to move on. Sony runs 26 channels in India, from general entertainment to sports and movies, and also a streaming service.

 

5. 29 May – International Day of the UN Peacekeepers: International Day of the UN Peacekeepers is observed every year in 29 May. This day is observed to acknowledge the service and sacrifice of over 4000 peacekeepers who have lost their lives while trying to bring peace in strife-torn areas of the world. Theme 2024 – Fit for the future, building better together. The day also urges the global community to join and strengthen the global movement for peace. The first International Day of the UN Peacekeepers was observed on 29 May 2003.

 

 

OTHER UPDATES:

DEFENCE

 

1. France successfully test fired ASMPA Missile: The French General Directorate of Armaments (DGA) conducted a successful test firing of the enhanced medium-range air-to-surface strategic missile (ASMPA-R). The Air-Sol Medium Range (ASMP/ASMP-A) is an air-launched land-attack supersonic cruise missile that carries a nuclear payload. ASMP-A, an upgraded version of the ASMP, arrived into French service in 2009. This version had an extended range of up to 500 km, and supported a new 300 kt thermonuclear warhead.

 

SCIENCE AND TECHNOLOGY

 

1. Wipro to develop AI driven tech to reduce risks of cardiovascular disease: Wipro has partnered with the Centre for Brain Research (CBR) at the Indian Institute of Science (IISc) Bengaluru to develop a personal care engine to reduce and manage the risk of cardiovascular disease by utilizing AI. The collaboration will develop new technologies for prevention and management of long-term health disorders and to provide precision support for these diseases. The personal care engine will focus on reducing and managing the risk of cardiovascular disease and correlated neurodegenerative disorders, by using AI to personalize its interaction with users, optimizing for their long-term health and wellbeing.

 

BANKING AND FINANCE

 

1. RBI unveils Pravaah portal, Retail Direct Mobile App and FinTech Repository: The Reserve Bank of India (RBI) has launched three major initiatives: PRAVAAH portal, Retail Direct mobile app and a Fintech Repository. These initiatives are aimed at enhancing regulatory processes, facilitating retail investment, and providing comprehensive data on the fintech sector.

 

2. Poonawalla Fincorp launches Co-Branded Credit Card with IndusInd Bank: Poonawalla Fincorp Limited, in collaboration with IndusInd Bank, has launched the co-branded ‘IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card’, a card designed to redefine and elevate the banking experience of customers. With this co-branded credit card launch, Poonawalla Fincorp marks a significant milestone in their ongoing commitment to providing tailored financial solutions to meet the evolving needs of their valued customers. Objective – To enhance engagement with our existing customers digitally while also extending our reach to new customers.

 

AWARDS AND HONOURS

 

1. Major Radhika Sen receives UN Military Gender Advocate of the Year Award: Major Radhika Sen, an Indian peacekeeper deployed in the Democratic Republic of the Congo (DRC), has been named the United Nations Military Gender Advocate of the Year for 2023. The prestigious award recognizes her outstanding service and efforts to empower local communities, especially women and girls, during her tour of duty from March 2023 to April 2024. Serving with the UN peacekeeping mission MONUSCO as the Commander of the Engagement Platoon for the Indian Rapid Deployment Battalion i

 

 

Daily GK Update- 28th May, 2024

 

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.