Daily Current Affairs 18th May, 2024
Daily Current Affairs 18 May 2024 for Banking/Insurance/SSC and other related exams.
NATIONAL NEWS
Centre Issues First Set Of Citizenship Certificates Under CAA
- Union Home Secretary Ajay Kumar Bhalla handed over certificates under the Citizenship (Amendment) Act, 2019 to the first 14 people in New Delhi. Digitally signed certificates are also being issued to other applicants through email.
- The process involves granting Indian nationality to undocumented non-Muslims migrants, including Hindus, Sikhs, Jains, Buddhists, Parsis and Christians from Pakistan, Afghanistan and Bangladesh.
- The CAA was enacted in December 2019 but the rules under which the citizenship was granted were issued only on March 11 this year, marking nearly four years of delay.
Centre Extends Ban Imposed On LTTE For Five More Years
- The Centre has extended the ban on Liberation Tigers of Tamil Eelam (LTTE) for further five years.
- The central government has taken the decision in view of the activities of the LTTE that continues to pose a threat to the sovereignty and territorial integrity of India, particularly in Tamil Nadu.
- The union home ministry imposed the ban invoking the sub-sections (1) and (3) of section 3 of the Unlawful Activities (Prevention) Act, 1967. In a notification, the home ministry said the central government is of the opinion that the LTTE is still indulging in activities which are prejudicial to the integrity and security of the country.
AIIMS New Delhi Signed MoU With University Of Bolton Institute Of Medicine
- AIIMS New Delhi has signed a Memorandum of Understanding (MoU) with UK based University of Bolton Institute of Medicine to collaborate in the field of medical research, innovation and education.
- This strategic collaboration brings together two esteemed institutions renowned for their commitment to excellence in medical training, research, and patient care.
- These partnerships will encompass various initiatives such as staff/student exchanges, educational conferences and collaborative degree programmes, aiming to enrich the medical education landscape in both countries.
HCLTech and UPDESCO join hands to launch new employment-oriented courses
- A workshop was organized at HCLTech, Lucknow by HCLTech and UPDESCO to launch new employment-oriented courses. Approximately 70 training centers from various districts of the state, listed under UPDESCO, participated in the workshop.
- During the workshop, HCLTech provided detailed information on various job roles such as Java with AI, Data Engineering, and Cyber Security.
- The courses are designed according to industry demand for students and to administer exams for other currently running courses.
Sikkim Transport Department Introduces AI Traffic Management System For Document Verification And Violation Detection
- The Sikkim transport department announced the launch of an Artificial Intelligence-driven traffic management system across the state from May 25.
- The system aims to modernise traffic management and improve regulation efficiency by automatically verifying documents and detecting violations.
- According to a notice by the department, “All vehicle owners (including government vehicles) are therefore informed to keep all their vehicle documents up to date. Any discrepancies arising out of the issue of E-challan may be brought to notice of the SPs/RTOs of the district.”
INTERNATIONAL NEWS
India To Establish Arms Manufacturing Unit Sri Lanka
- Sri Lanka is engaged with India to set up a small arms manufacturing unit in the country in the wider ambit of defence cooperation between the two nations, State Minister of Defence Premitha Bandara Tennakoon.
- This follows the second seminar of India-Sri Lanka Defence Cooperation held here early April.
- The Indian envoy in Colombo, Santosh Jha, in his address said the Indian defence industry today rolls out state-of-the-art systems, advanced technologies and world class equipments.
India Offers To Install Green Hydrogen Production Facility As Per Global Demand
- Secretary, Ministry of New & Renewable Energy, Government of India, Bhupinder Singh Bhalla addressed the World Hydrogen Summit 2024 in Rotterdam, Netherlands , highlighting India’s strategic vision and capabilities in the domain of renewable energy and green hydrogen production.
- The Secretary underscored the comprehensive nature of the National Green Hydrogen Mission, comprising components such as pilot projects, research and development (R&D) initiatives, and skill development programs.
- The Secretary assured the World Hydrogen Summit delegates of India’s capability to meet any scale of production demand for green hydrogen, provided there is sufficient market demand and support. This confidence stems from India’s robust renewable energy deployment strategy, as outlined in its Nationally Determined Contributions (NDC).
- Highlighting the rapid scale-up of renewable energy infrastructure in the country, the Secretary informed the audience that approximately 43% of India’s current installed electricity capacity is from non-fossil-fuel sources, with projections indicating a rise to 50% by 2030.
BANKING & FINANCE
IFC extends $500 million financing to HDFC Bank to ramp up microloans
- International Finance Corporation (IFC) has provided $500 million loan to HDFC Bank for extending microloans to “underserved women” in rural and semi-urban India.
- HDFC Bank said it would use IFC’s financing for on-lending as microloans to self-help groups (SHGs) and joint liability groups (JLGs) enrolled in the Sustainable Livelihoods Initiative (SLI).
- IFC’s loan will further enable the Bank to grow its microcredit and microlending to women, especially allowing SHG and JLG borrowers to graduate to individual lending schemes.
Razorpay revamps health insurance policy, provides coverage for vital medical treatments
- Fintech major Razorpay has introduced a new employee health insurance policy, under which coverage will be provided to employees’ siblings as well as for vital treatments like those for HIV/AIDS. The new policy has also raised the company’s insurance costs by 3 to 5 per cent.
- The policy also extends support to conditions such as polycystic ovary syndrome, addressing a broad spectrum of healthcare needs.
- It will allow employees of the omnichannel payments and banking platform for businesses to customise their health insurance plans according to their individual needs, including defining their own families and encompassing live-in or LGBTQIA+ partners as spouses.
Sampoorna Pashudhan Kawach: AIC signs MoU with CSC for nationwide distribution of retail cattle insurance
- Agriculture Insurance Company of India Ltd. (AIC) is now extending its services to the Livestock Insurance segment as well. In view of widening the reach of AIC’s innovative cattle insurance product, “Sampoorna Pashudhan Kawach”, the Company has entered into a strategic partnership by signing MoU with CSC e-Governance Services India Ltd(CSC) which is a government owned entity facilitating digital access to various services across rural India.
- Sampoorna Pashudhan Kawach is a comprehensive insurance Product tailored specifically for cattle farming, designed to safeguard farmers’ livestock against unforeseen risks.
- Through this memorandum of understanding, CSC will serve as a pivotal distribution channel, leveraging its extensive network of around 6 lakh Common Service Centres (CSCs) spread across the nation.
BUSINESS & ECONOMY
Tech Mahindra, IBM collaborate to accelerate adoption of GenAI
- IT company Tech Mahindra said it has collaborated with IBM to assist businesses worldwide in responsibly accelerating the adoption of generative AI (GenAI).
- Under the partnership, Tech Mahindra’s amplifAI and IBM watsonx will integrate to bring new GenAI and governance capabilities to enterprises, according to a company statement.
Disney+ Hotstar & Star Sports Network to provide sign language and audio description for T20 World Cup 2024
- On the occasion of Global Accessibility Awareness Day (May 16), Disney Star in association with India Signing Hands (ISH), announces the availability of an Indian Sign Language (ISL) feed for the upcoming ICC Men’s T20 World Cup, starting June 2.
- This will be applicable for 10 matches including the India matches, semi-finals and finals. The company will also support an audio descriptive feed, along with the ISL feed on Disney+ Hotstar and Star Sports Network.
India Registers Record Export At USD 778 Billion In 2023-24
- India registered record exports in the just concluded financial year 2023-24 at USD 778 billion, commerce ministry said. In the financial year 2022-23, the combined value of exported goods and services stood at USD 776.3 billion.
- In 2023-24, services exports increased from USD 325.3 billion to USD 341.1 billion, while merchandise exports marginally declined from USD 451.1 billion to USD 437.1 billion.
- China, Russia, Iraq, UAE, and Singapore are among the countries where India’s exports in the just-concluded financial year have risen substantially, though with a low base. The other countries in the Top 10 list are the UK, Australia, Saudi Arabia, the Netherlands, and South Africa.
- Meanwhile, there was a decline in overall imports from USD 898.0 billion in 2022-23 to USD 853.8 billion in 2023-24. Moreover, the trade deficit showed significant improvement, shrinking from USD 121.6 billion in 2022-23 to USD 75.6 billion in 2023-24.
Asia To Contribute 60% Of Global Growth In 2024: IMF Official
- Asia continues to power ahead as the engine of the global economy, with the region expected to contribute a massive 60% to world growth in 2024, a senior International Monetary Fund (IMF) official stated.
- Speaking at the 13th IMF-Japan High-Level Tax Conference for Asian Countries in Tokyo, IMF Deputy Managing Director Okamura highlighted Asia’s lead role in driving global economic recovery post-pandemic citing the IMF’s latest World Economic Outlook projections.
- The global economy has exhibited surprising resilience amid successive shocks, with the IMF forecasting 3.1% growth in 2024. Meanwhile, Asia is also ahead of the curve on taming inflation with most countries expected to meet central bank targets this year.
- Among major economies, India is projected to remain the fastest-growing in 2024, with the IMF raising its growth forecast to 6.8% from 6.5% previously. The robust domestic demand, rising working-age population, and demographic dividend are cited as key drivers.
EaseMyTrip enters into partnership with Google Wallet
- EaseMyTrip.com announced its partnership with Google Wallet to integrate its booking necessities into a single wallet.
- This collaboration aims to revolutionise the travel landscape by offering travellers a seamless journey through the integration of all booking necessities into a single, user-friendly wallet.
- Android users can download the Google Wallet app and log in using their Google credentials. After booking tickets on EaseMyTrip.com and completing the web check-in process, users can add their boarding passes to Google Wallet.
SPORTS
Brazil to host 2027 Women’s World Cup
- Brazil was declared the host of the 2027 Women’s World Cup at the FIFA Congress, beating the joint bid of Belgium, Netherlands and Germany to become the first South American country to hold the tournament.
- The Brazil bid received the backing of 119 member associations of the FIFA Congress to host the 10th edition of the competition, compared to 78 votes for the European bid.
- The race was whittled down to two last month after the United States and Mexico withdrew their joint bid to pursue the 2031 tournament instead.
Parveen Hooda suspended for whereabouts violation, set to miss Paris Olympics
- World Championships Bronze medalist Parveen Hooda has been provisionally suspended for 18 months by the World Anti Doping Agency (WADA), for accumulating three whereabouts failures in a year between April 2022 and March 2023.
- The ban has been backdated by eight months, meaning Parveen’s sanction is effectively of 14 months, starting from May 17, 2024, Boxing Federation of India (BFI) confirmed.
- As a result of this, the 57kg boxer is most certainly set to miss the upcoming Paris Olympics, in what will be a major hit on India’s medal hopes in the summer showdown.
FIFA Confirm First Ever Women’s Club World Cup Will Kick Off In 2026
- FIFA has officially announced the scheduled dates for the inaugural Women’s Club World Cup tournament, slated to take place in January and February of 2026. The tournament’s first edition is expected to feature 16 teams.
- The Women’s Club World Cup would likely allow top European teams from the UEFA Women’s Champions League to face clubs from the United States’ National Women’s Soccer League, as well as sides from countries where the women’s game is less developed.
- FIFA also approved a new calendar with a focus on providing more opportunities for rest and recovery for players and coaches
Puma India signs up as official kit partner for Athletics Federation of India , will equip over 400 Indian athletes
- In a strategic move, Puma India has signed up as the official kit sponsor of sports body, Athletics Federation of India (AFI).
- Under this multi-year deal, the sports brand will exclusively supply performance kits, speed suits and travel gear to all athletes under AFI and who represent India in track & field, jumps, throws, cross country running and marathons at both domestic and international tournaments.
- PUMA’s partnership with AFI is set to intensify the sports brand’s commitment to amplify sports culture in India and serve as a catalyst for the development, growth and success of the country’s accomplished and next generation of athletes.
Abha Khatua Sets National Record Winning Gold In Women’s Shot Put At National Federation Cup Athletics Competition In Bhubaneswar
- Abha Khatua has set a national record and won gold medal in Women’s Shot Put with a massive throw of 18.41 metres at National Federation Cup Athletics Competition in Bhubaneswar, Odisha.
- The 28-year-old Abha Khatua previously shared the record with Manpreet Kaur after matching the latter’s mark of 18.06m at the Asian Athletics Championships 2023 in Bangkok.
- The women’s shot put silver medal was won by Kiran Baliyan with a throw of 16.54m while Srishti Vig registered a distance of 15.86m to clinch the bronze. Animesh Kujur, 20, won the gold in men’s 200m with a personal best of 20.62s
Table Tennis, Manika Batra Becomes First Indian Woman To Break Into Top 25 Of World Women’s Singles Rankings
- India’s ace women’s table tennis player Manika Batra became the first Indian woman paddler to break into the top 25 of the world Women’s singles rankings. She rose to her career-best ranking of 24, following her success in the Saudi Smash, last week.
- She also equalled G. Sathyan’s five year old record for the highest rank achieved by an Indian in singles table tennis. G Sathiyan, Manika’s longtime mixed doubles partner, achieved world No. 24 in men’s singles in 2019.
- The 28-year-old Khel Ratna awardee, who was in 39th spot before the tournament, jumped 15 spots following her run in Jeddah, where she reached the quarterfinals.
APPOINTMENTS
Senior IIS Officer Maushumi Chakravarty Assumes Charge As Director General Of Akashvani
- Senior Indian Information Service officer, Maushumi Chakravarty assumed the charge as Director General of Akashvani.
- A 1991 batch IIS officer, Ms Chakravarty has a vast experience of working in several media organisations of the Information and Broadcasting Ministry, including Press Information Bureau and Central Bureau of Communication.
- In her career spanning over three decades, she has also worked on deputation basis in the National Human Rights Commission and as P.S. to Cabinet Minister.
BARC appoints Bikramjit Chaudhuri as Chief of Measurement Science
- Broadcast Audience Research Council (BARC) India has announced the appointment of Bikramjit Chaudhuri as its new Chief of Measurement Science & Analytics.
- He will succeed Derrick Gray, a veteran Audience Measurement and Advanced Analytics executive, who has been a well-respected member of the BARC India family for six years.
- Bikramjit is currently associated with the Datamatics Group of Companies as the global head of data science and advanced analytics, since 2016. Prior to Datamatics, Bikram has held multiple leadership roles, and has led large teams of senior talent across levels at KPMG, Nielsen and ZS Associates.
RBI approves appointment of Pradeep Natarajan as IDFC FIRST Bank’s Whole Time Director
- The Reserve Bank of India (RBI) has approved the appointment of Pradeep Natarajan as Whole Time Director on the Board of IDFC FIRST Bank for a period of three years.
- The bank further said it will take the necessary steps to complete the formalities for the appointment of Natarajan as Executive Director.
Wipro COO Amit Choudhary resigns, Sanjeev Jain to takeover
- Within a week, IT major Wipro has seen its second senior-level exit under new CEO Srini Pallia with its Chief Operating Officer (COO) Amit Choudhary stepping down.
- The company has appointed Sanjeev Jain as the Chief Operating Officer with immediate effect. Jain will report to Pallia and will continue to be a member of Wipro’s Executive Committee.
AWARDS
IN-SPACe honoured with Geospatial World Forum Leadership Award
- The Indian National Space Promotion and Authorization Centre (IN-SPACe) has been honoured with the Geospatial World Forum (GWF) Leadership Award for “Public Policy: Enabling Industry Development” at the 2024 event in Rotterdam, Netherlands.
- The award recognizes their groundbreaking efforts in advancing India’s space sector and supporting non-government entities. GWF Leadership Awards commend innovation and contributions to the global geospatial field since 2007.