Daily Current Affairs 12th & 13th May, 2024
Daily Current Affairs 12 & 13 May 2024 for Banking/Insurance/SSC and other related exams.
NATIONAL NEWS
DRDO Collaborates with IIT Bhubaneswar for AI-Driven Surveillance
- India’s Defence Research and Development Organisation (DRDO) has collaborated with the Indian Institute of Technology (IIT) Bhubaneswar for undertaking artificial intelligence (AI) driven surveillance and other projects.
- The collaboration between DRDO and IIT Bhubaneswar is multifaceted, primarily focusing on electronic warfare, AI-driven surveillance, power systems, and radar systems.
- The institutions aim to develop sophisticated tools that can enhance the intelligence, surveillance, and reconnaissance (ISR) operations of India’s defense forces with their collaborative efforts.
BANKING & FINANCE
Thomas Cook India launches ‘TCPay’ for international money transfers
- Thomas Cook India has revolutionized international money transfers with the launch of TCPay, a user-friendly digital service designed to simplify and enhance the remittance process.
- Traditionally, sending money abroad involved tedious paperwork and limited operating hours. With TCPay, customers can now enjoy 24×7 remittances with ease and efficiency.
- TCPay offers a simple and seamless digital interface across Thomas Cook’s digital platforms, including FXNOW (B2C app), Portal, and Call Center for assistance. This ensures a hassle-free experience for customers.
- The introduction of Video KYC enhances security and expedites transactions, allowing for convenient, safe, and quick remittances from the comfort of home. This innovative feature further streamlines the remittance process, aligning with Thomas Cook’s commitment to digitization and customer convenience.
Zeta launches digital credit as service for banks in India
- Banking technology provider Zeta has announced the launch of its Digital Credit as a Service offering for banks and financial institutions in India.
- Following this announcement, the offering will be underpinned by NPCI’s Credit Line on UPI scheme, which will leverage the power of the UPI network in order to accelerate the development of credit issuance in the region of India.
- In addition, the company will focus on meeting the needs, preferences, and demands of customers and clients in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry.
BUSINESS & ECONOMY
Zomato unveils ‘India’s first’ crowd-supported weather infrastructure
- Zomato co-founder Deepinder Goyal unveiled India’s first crowd-supported weather infrastructure ‘Weather Union’ to provide localised, real-time information on key weather parameters.
- He also informed that the online food-delivery giant is opening up access to the data of this weather infrastructure to everyone for the public good as a part of ‘Zomato Giveback’.
- These weather stations, developed by Zomato, provide localised, real-time information on key weather parameters such as temperature, humidity, wind speed, rainfall etc. Currently available across 45 large cities, these weather stations will expand in other Indian cities “very soon”.
Hinduja Group gets IRDAI approval for Reliance Capital acquisition
- Hinduja Group’s IndusInd International Holdings (IIHL) received the long-awaited Insurance Regulatory and Development Authority of India’s (IRDAI) approval for the acquisition of Reliance Capital.
- The acquisition will include the takeover of Reliance Capital’s insurance arms — wholly-owned subsidiary Reliance General Insurance and 51:49 JV with Nippon Life, Reliance Nippon Life Insurance.
- The insurance regulator has cleared the transfer of Reliance Capital’s 26 per cent stake in Reliance Nippon Life to Aasia Enterprises. Post the transaction, Reliance Capital, Nippon Life Insurance and Aasia Enterprises LLP will be the promoters of the company.
IRDAI brings life, health insurance down to the grassroots level
- In a move that can bring insurance down to the grassroots, the Insurance Regulatory and Development Authority of India (IRDAI) has mandated life and general insurers to extend cover to certain identified Gram Panchayats.
- Per the master circular issues by the regulator on rural, social and motor third party obligations, the Life Insurance Council, in consultation with the Ministry of Panchayat Raj, will indicate the minimum number of Gram Panchayats to each life insurer on mutually agreed parameters such as market share, or any other parameter.
- Once the number of Gram Panchayats to be covered by each insurer is determined, the insurers can identify them in a State(s) of their choice for fulfilment of obligations, the IRDAI said.
- A similar exercise will also be taken up by the General Insurance Council to identify the Gram Panchayats for extending the health cover, Motor Third Party (MTP) insurance and the dwelling shops, per the new norms.
Bharti Airtel, Google, tie-up to provide cutting-edge cloud solutions to customers
- Bharti Airtel (Airtel) and Google Cloud have entered into a long-term collaboration to deliver cloud solutions to Indian businesses, offering a suite of cutting-edge cloud solutions from Google Cloud to fast-track cloud adoption and modernisation for Airtel’s customers.
- In addition, Airtel will provide a suite of cloud managed services to its customer base of more than 2,000 large enterprises and one-million emerging businesses.
- Through this collaboration, the two companies are targeting the large and growing Indian public cloud services market, which is expected to reach $17.8 billion by 2027 (as per IDC), Airtel said.
GalaxEye signs MoU with IN-SPACe for co-working and testing facilities
- Space-tech start-up GalaxEye has gained access to the co-working and testing facilities of the Indian National Space Promotion and Authorization Centre (IN-SPACe) in Ahmedabad.
- The start-up signed a memorandum of understanding (MoU) with IN-SPACe, an autonomous agency under the Department of Space, on May 01, 2024 to formalise the collaboration. The partnership facilitates the utilisation of ISRO’s laboratories and testing facilities.
- GalaxEye is planning to build multi-sensor earth observation (EO) satellites and is set to launch their first satellite, Drishti Mission, within a year from now. In 2023, GalaxEye developed a UAV SAR system for defence markets and completed over 200 successful flights with UAV SAR Payload.
- Further, GalaxEye has introduced the “Drishti Sensor”, a sensor technology which helps with cloud cover and provides high quality images with detailed and timely data that is required for mission preparation, border patrols, and disaster management.
SPORTS
Neeraj Chopra finishes second in Doha Diamond League
- Indian javelin thrower Neeraj Chopra, the reigning Olympic and world champion, started his 2024 season with a second-place finish at the Doha Diamond League 2024.
- The 26-year-old Chopra trailed Czech Republic veteran Vadlejch, who won the title with his third round throw of 88.38m all through the competition.
- Chopra made a last ditch effort but his final round throw fell 2cm short of Vadlejch’s mark as the Indian superstar failed to defend the title he had won won last year . Two-time world champion Anderson Peters took the third sport with a best throw of 86.62m.
New Zealander Colin Munro retires from international Cricket
- Veteran New Zealand cricket player Colin Munro has announced his retirement from international cricket, ending his 123-match career with the Black Caps. The New Zealand cricket team is also called the Black Caps.
- Munro announced his retirement after he was not chosen in the New Zealand squad for the 9th ICC Men’s T 20 World Cup, which will be held in the West Indies and the United States of America from June 1 to 29, 2024.
- However, Munro will continue to play in the franchise T20 cricket league. He captained the Brisbane Heat during last summer’s Australian Big Bash League.
- Munro played one Test,57 One Day Internationals(ODI) and 65 T20s. He scored a 47-ball century against the West Indies in 2018, which was New Zealand’s national record in T20 International. He also set the national record by scoring a 14-ball 50 against Sri Lanka in 2016, which is also the fourth-fastest 50 in a T20 International.
- Munro averaged 31.34 in T20Is with a strike rate of 156.44 — no New Zealander has scored more runs in the formats with a higher strike rate.
APPOINTMENTS
Mahamat Déby wins Chad presidential election
- Mahamat Idris Deby Itno, the military dictator and interim president of Chad, emerged victorious in the presidential election held recently.
- Mahamat Idris Deby Itno came to power in 2021 after seizing control with the support of army generals following the death of his father, President Idriss Deby. President Idriss Deby, who ruled Chad for three decades as a dictator, was killed by rebels in Northern Chad in 2021.
- With his victory in the 2024 presidential election, Mahamat Idris Deby Itno is set to continue ruling Chad for another six years, further legitimizing his leadership and extending the Deby family’s long-standing grip on power in the country.
B Sudarshan appointed as Executive Director (Refinery) of MRP
- B Sudarshan has been appointed as the Executive Director (Refinery) of Mangalore Refinery and Petrochemicals Ltd (MRPL).
- He previously held the position of Group General Manager (Marketing Projects) and was head of MRPL’s Bengaluru office.
- Sudarshan joined MRPL on December 3, 1993, as a Senior Engineer (Instrumentation Maintenance). During his long tenure at MRPL, he has worked in fields such as Projects and Maintenance.
RBI appoints R Lakshmi Kanth Rao as ED
- The Reserve Bank of India(RBI) has appointed R. Lakshmi Kanth Rao as Executive Director with effect from May 10. Prior to being promoted as ED, Rao was serving as Chief General Manager-in-Charge in the Department of Regulation.
- As Executive Director, Rao will look after the Deposit Insurance and Credit Guarantee Corporation, Right to Information Act (FAA) and Department of Communication.
- He had served as Banking Ombudsman at RBI Chennai and as Regional Director of Uttar Pradesh at Lucknow. He has also served as a member of several Committees and Working Groups and has been contributing to policy formulation.
Wipro’s president Anis Chenchah resigns
- IT major Wipro’s President-Asia Pacific, India, Middle East and Africa (APMEA), Anis Chenchah, has resigned from his role, adding to the senior-level exits at the company.
- Vinay Firake has been appointed as Chief Executive Officer, APMEA Strategic Market Unit (SMU), effective immediately.
- Chenchah had joined Wipro in April 22, after a 15-year stint across roles in Capgemini. The company said that he is stepping down to pursue opportunities outside the company.
Incumbent Croatian PM clinches third term with right-wing support
- Croatia’s incumbent Prime Minister Andrej Plenkovic was asked to form a new government after securing the backing of a right-wing party following an inconclusive election last month.
- Mr. Plenkovic, 54, reached a deal with the nationalist anti-migrant Homeland Movement (DP), which emerged as kingmaker after the April 17 parliamentary election.
- Plenkovic pledged he would “continue to work for prosperity” in his third term. Plenkovic’s centre-right HDZ party bagged 61 seats while the DP secured 14.
AWARDS
Dr Soumya Swaminathan to be awarded honourary doctorate by Canada’s McGill University
- Dr Soumya Swaminathan, most recently WHO’s Chief Scientist, has been named among the 10 exceptional individuals who will receive honorary degrees from Canada’s prestigious McGill University as part of the Spring 2024 Convocation ceremonies.
- In 2017, Swaminathan joined the World Health Organisation (WHO) as Deputy Director General (Programmes), and, in March 2019, was named its first Chief Scientist, a role she filled through the Covid-19 pandemic until late 2022.
- More than two centuries old, McGill, a public research university in Montreal, grants honorary degrees to individuals “who have lifetime records of outstanding scholarly, scientific, or artistic achievement, or of exceptional contributions to the public good through professional or philanthropic activity.
Nepal’s ‘Everest Man’ claims record 29th summit
- Nepali climber Kami Rita Sherpa(54) reached the top of Mount Everest for the 29th time, breaking his own record for the most summits of the world’s highest mountain.
- He has scaled the 8,849-meter (29,032-foot) peak almost every year since his first successful ascent in 1994, according to the Guinness Book of World Records.
- Kami embarked on the Spring Season Everest expedition from Kathmandu, accompanying a team of approximately 28 climbers. Seven Summit Treks organised the expedition to conquer the world’s highest peak.
- He now holds the record for the most ascents of the world’s tallest peak in its 71-year climbing history.
Hardik Singh and Salima Tete named the Player of the Year for 2023
- Hardik Singh and Salima Tete were named the Player of the Year for 2023 among men and women respectively at the sixth annual Hockey India awards even as the federation announced the revival of Hockey India League (HIL) in January 2025.
- With a total prize pool of ₹7.56 crores, the awards saw teams and individuals felicitated for their achievements in the past year. Interestingly, even the 2016 Junior World Cup winning men’s team was honoured at the event, eight years since the triumph.
- A trophy was also presented to Manpreet Singh for completing 350 international caps for the Indian men’s hockey team while Savita Punia and Harmanpreet Singh were also celebrated after they reached the 250 and 200 international caps milestones for India, respectively.
Hockey India Awards 2023 winners
- Hockey India Major Dhyan Chand Lifetime Achievement Award: Ashok Kumar
- Hockey India Major Dhyan Chand Lifetime Achievement Award: Ashok Kumar
- Hockey India Balbir Singh Sr Award for Player of The Year (Men): Hardik Singh
- Hockey India Balbir Singh Sr Award for Player of The Year (Women): Salima Tete
- Hockey India Baljit Singh Award for Goalkeeper of the Year: PR Sreejesh
- Hockey India Pargat Singh Award for Defender of the Year: Harmanpreet Singh
- Hockey India Ajit Pal Singh Award for Midfielder of the Year: Hardik Singh
- Hockey India Dhanraj Pillay Award for Forward of the Year: Abhishek
- Hockey India Asunta Lakra Award for Upcoming Player of the Year (Women – Under 21): Deepika Soreng
- Hockey India Jugraj Singh Award for Upcoming Player of the Year (Men – Under 21): Araijeet Singh Hundal
OTTplay shines on the global stage, wins big at INMA Global Media Awards 2024
- HT Labs-backed OTTplay has scored big at the esteemed INMA Global Media Awards 2024, reaffirming its position in the digital media landscape. OTTplay has won Gold (first place) in the Best Product Iteration category and Silver (second place) in the category for Best Use of an Event to Build a News Brand.
- OTTplay’s pioneering effort in product iteration was duly recognised as it managed to beat Germany’s WeltN24 (“Revitalizing the Welt Community”) and Chile’s La Tercera (“The Match Project”) for the top spot.
- OTTplay’s evolution from a recommendation platform to a OTT aggregator that solves the problem of maintaining multiple subscriptions while offering a unified platform to discover and consume content from across OTTs was recognised as a novel and innovative solution. This is a validation for OTTplay’s commitment to drive consistent innovation and raise the bar for the digital industry.
Genius Box Honored by Bureau of Indian Standards for Quality and Branding Excellence
- In a notable achievement, Genius Box, a leading brand specializing in innovative DIY educational kits for children, has been recognized and honored by the Bureau of Indian Standards (BIS) for its outstanding commitment to quality and branding excellence.
- The prestigious recognition comes alongside Genius Box’s distinguished feat of maintaining a flawless record of nil sample failures over the past three years.
- By integrating play-based learning with educational content, Genius Box aims to equip children with essential 21st-century skills, including problem-solving, creativity, and effective communication. The brand’s diverse range of kits, tailored for different age groups and learning objectives, covers a spectrum of subjects from STEM to arts and crafts.
OBITUARIES
Noted Punjabi poet Surjit Patar passes away at 79
- Eminent Punjabi poet and Padma awardee Dr Surjit Patar, 79, passed away “in his sleep” at his residence in Ashapuri area of Ludhiana.
- Patar’s poetic works include ‘Hawa Vich Likhe Harf’, ‘Hanere Vich Sulagdi Varanmala’, ‘Patjhar Di Pazeb’, ‘Lafzaan Di Dargah’ and ‘Surzameen’.
- Surjit Patar was honoured with the Padma Shri in 2012 for his contributions to literature and education. He served as the president of the Punjab Arts Council and had previously held the position of president at the Punjabi Sahit Akademi.
- Throughout his illustrious career, Patar received prestigious awards such as the Sahitya Akademi Award, Panchnad Puruskar, Saraswati Samman, and the Kusumagraj Literary Award.