Daily Current Affairs 29th May, 2024
Daily Current Affairs 29 May 2024 for Banking/Insurance/SSC and other related exams.
NATIONAL NEWS
Central Council for Research in Ayurvedic Sciences Launches “PRAGATI-2024”, an initiative to shape the future of Ayurveda
- The Central Council for Research in Ayurvedic Sciences (CCRAS), an autonomous body under the Union Ministry of Ayush, launched “PRAGATI- 2024” (Pharma Research in AyurGyan And Techno Innovation). It offers a very useful opportunity for collaborative reasearch in the filed of Ayurveda.
- PRAGATI-2024 presents for collaboration between CCRAS and the industry. This platform provides an invaluable opportunity for research and collaboration, showcasing the vast potential of the Ayurveda and herbal industry and also mentioned the significant share India holds in this sector.
- The event was well attended by CEO’s/ MD’s /Directors and Head of research units from 37 pharma Companies. Mrs. Kavita Garg, joint secretary, Ministry of Ayush and other senior officeials of the ministry were also present during the event.
NSDC and ILO forge strategic partnership to enhance Skill Development and Lifelong Learning
- Advancing the Skill Mission, the National Skill Development Corporation (NSDC) under the aegis of the Ministry of Skill Development & Entrepreneurship (MSDE) and the International Labour Organization (ILO) announced a strategic partnership to advance skill development and lifelong learning in India and globally.
- This collaboration aims to empower individuals across the globe, by equipping them with essential competencies and qualifications, thereby enhancing employability and sustainable economic growth.
- This partnership is dedicated to developing effective policies, governance and financing structures which will enhance skill development, both nationally and internationally.
- A key aspect of the partnership is the implementation of the Skill India Digital Hub (SIDH). This digital transformation will streamline skill development initiatives, enhancing their efficiency, accessibility, and global impact.
INTERNATIONAL NEWS
National Archives Of India Undertakes First Overseas Digitization Of Diaspora Records In Oman
- The National Archives of India (NAI) has completed its first overseas project by digitising and archiving the documents of the Indian diaspora in Oman, whose presence in the West Asian country dates back almost 250 years.
- “The Oman Collection” was a special digitisation and oral history project conducted at the Indian embassy in Muscat during May 19-27 and it was joined by 32 prominent Indian families hailing from Gujarat.
- More than 7,000 documents in English, Arabic, Gujarati and Hindi from private collections of Indian merchant families were scanned and digitised. The oldest document dated back to 1838, and a large majority were from the late 19th century and early 20th century
BANKING & FINANCE
Govt to launch a national portal to reduce delays in health insurance claim settlements
- The government is planning to launch a Unified portal that will process health insurance claims across hospitals all over the country. The National Health Claim Exchange (NHCX) one-stop-portal is likely to be launched in the next two-three months. The claim exchange has been developed as part of Ayushman Bharat Digital Mission (ABDM).
- The new portal will use a common data collection format that will contain all the information needed by different insurance companies. It will aim to speed-up the pre-authorisation time and discharge approvals, and bring down insurance premiums in the future.
- Currently hospitals use different private portals to process insurance claims, which makes the process inconvenient for the consumers. This new portal will allow faster processing, as it will bring almost 50 insurance providers under the same umbrella.
With PA approval, fintech firm Decentro launches new payment stack
- Fintech firm Decentro announced the launch of a new payment stack, Flow 2.0, months after the company received the final nod from the Reserve Bank of India (RBI) to operate as an online payment aggregator.
- The company has launched fintech products such as collections on Unified Payments Interface (UPI) and will introduce recurring payments in the next few weeks.
- The key use cases for UPI collections will be e-commerce, logistics, last-minute delivery, hyperlocal commerce, gaming, edtech, among others. This would include E-National Automated Clearing House (E-NACH), setting up the mandates with use cases of subscriptions, investments, credit
- Flow 2.0 will enable enterprises to conduct transactions under RBI-approved frameworks. At present, the company caters to customers such as Shiprocket, Kodo, Volopay, among others.
BUSINESS & ECONOMY
SBI Research Says, India’s GDP Growth Likely To Touch 8 % In Financial Year 2024
- The State Bank of India (SBI) released a report anticipating India’s GDP growth 7.4% in the fourth quarter of the financial year 2023-24, while the overall growth could touch 8%.
- The report released by the SBI’s Economic Research department highlights the potential impact of global economic resilience on India’s growth trajectory. The report identifies a consistent growth trend across both urban and rural sectors in India.
- This announcement comes ahead of the official GDP figures release by the Centre on May 31 for Q4 FY24 and the provisional estimates for FY24. The Reserve Bank of India (RBI) estimated Q4 FY24 real GDP growth at 7.3%, with expectations for Q1 FY25 at 7.5%, and full-year FY25 growth projected at 7.0%. Chief Economic Adviser V. Anantha Nageswaran also indicated a high possibility of India’s economic growth touching 8% in FY24
Reliance signs agreement with Norway’s Nel to accelerate new energy investment
- Reliance Industries Ltd’s technology partnership with Norway’s NE ASA will help accelerate its new energy investments, including green hydrogen production, helping billionaire Mukesh Ambani move towards green energy.
- Reliance (RIL) entered into a technology licensing agreement that provides the company with an exclusive license for Nel’s alkaline electrolysers in India and also allows it to manufacture the Norwegian company’s alkaline electrolysers for captive purposes globally.
- According to the agreement, Nel can procure equipment from Reliance for its own projects. Nel will continue to serve the Indian market with technology platforms that are not covered by the agreement.
Reliance Jio arm, Tech Mahindra bag orders from Ghana for building 4G, 5G telecom infrastructure
- 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.
- The partnership aims to enrich Ghanaians’ lives through improved education, healthcare, and digital payment services facilitated by the modern telecom network.
India in trade deficit with 9 of top 10 trading partners in 2023-24: Data
- India has recorded a trade deficit, the difference between imports and exports, with nine of its top 10 trading partners, including China, Russia, Singapore, and Korea, in 2023-24, according to official data.
- The data also showed that the deficit with China, Russia, Korea, and Hong Kong increased in the last fiscal compared to 2022-23, while the trade gap with the UAE, Saudi Arabia, Russia, Indonesia, and Iraq narrowed.
- The trade deficit with China rose to $ 85 billion, Russia to $ 57.2 billion, Korea to $ 14.71 billion and Hong Kong to $ 12.2 billion in 2023-24 against $ 83.2 billion, $ 43 billion, $ 14.57 billion and $ 8.38 billion, respectively, in 2022-23.
- China has emerged as India’s largest trading partner with $ 118.4 billion of two-way commerce in 2023-24, edging past the US. The bilateral trade between India and the US stood at $ 118.28 billion in 2023-24. Washington was the top trading partner of New Delhi during 2021-22 and 2022-23.
SPORTS
Indian Arm Wrestlers Contingent Wins Seven Medals At Asian Championship 2024 In Tashkent, Uzbekistan
- The Indian arm wrestling contingent delivered an outstanding performance at the 2024 Asian Championship in Tashkent, Uzbekistan, bringing home a total of seven medals, which included one gold and six bronze.
- Shrimant Jha, who competed in two categories, was the top performer for India. He won the gold medal in the left-hand para category and also bagged a bronze medal in the right-hand para category. Laxman Singh Bhandari won two bronze medals in the Masters category.
- Sachin Goyal, who is one of the stars of the Baroda Badshahs franchise in the Pro Panja League, won a bronze medal in the competitive right-hand Senior category.
- Ibi Lollen from Arunachal Pradesh clinched two bronze medals in the Women’s right and left-hand categories. Pramod Mukhi stood in fourth place in a fiercely intense bout.
Charles Leclerc creates F1 history with win in Monaco
- Ferrari’s Charles Leclerc celebrated a dream Monaco Grand Prix victory to become the first home winner of Formula One’s showcase race since Louis Chiron raced around the city streets in 1931.
- It was the first time the 26-year-old had stood on the Monaco podium in six attempts and came after two standing starts from pole position in a race halted when first-lap collisions took out a fifth of the field.
- McLaren’s Oscar Piastri finished runner-up, 7.1 seconds behind after 78 laps without a chance to overtake on a circuit that often produces processional races, and Ferrari’s Carlos Sainz was third.
Germany’s Toni Kroos to retire from football after Euro 2024
- German and Real Madrid midfielder Toni Kroos(34) will retire after the 2024 European Championship, his club Real Madrid said.
- Considered one of the best players of his generation and indeed one of the best midfielders of all time, Kroos has won almost all there is to win over the course of a glistening career including three Bundesliga and German Cup doubles and one Champions League with Bayern Munich. He also won four La Liga titles and four more Champions League trophies with Spanish giants Real Madrid.
- He has already made 108 appearances for Germany, scoring 17 goals – including two in two minutes in the famous 7-1 win over Brazil in the semifinal of the 2014 World Cup, which Germany went on to win.
APPOINTMENTS
Jetha Ahir Is Elected As NAFED Chairman
- Jetha Ahir was elected uncontested as the chairman of the National Agricultural Cooperative Marketing Federation of India (NAFED) in the election held in Delhi.
- He was elected unopposed by the board comprising twenty-one directors, of which two are from Gujarat, including Rajkot MP Mohan Kundariya. He replaces Bijender Singh who held the coveted position as NAFED Chairman since 2007.
- Jetha, a BJP MLA, previously served as the Deputy Speaker of the Gujarat Assembly. He is also the Chairman of Pancharmrut Dairy as well of the Panchmahal District Cooperative (PDC) Bank.
- Jetha’s appointment comes in the backdrop of recent buzz over Jetpur BJP MLA Jayesh Radadiya’s election as a board member in the Indian Farmers Fertiliser Cooperative (IFFCO) against BJP-mandated Bipin Patel.
Twenty20 World Cup: Shahid Afridi named as ambassador
- The International Cricket Council (ICC), the world cricket governing body, has appointed Pakistan’s Shahid Afridi as the brand ambassador of the forthcoming 9th ICC Men’s T20 World Cup.
- Shahid Afridi joins Indian Yuvraj Singh, Chris Gayle of West Indies, and Jamaican sprinter Usain Bolt as brand ambassadors for the event.
- The ICC Men’s T20 World Cup start on 1 June, with the USA team taking on Canada at the Grand Prairie Stadium in Dallas, the United States of America. India will take on Pakistan on 9 June in New York.
- As brand ambassadors, they will promote the World Cup event, attend T20 World Cup matches, and participate in fan engagement events to promote cricket within the United States.
AWARDS
Indian Army Major Radhika Sen Selected To Receive 2023 Military Gender Advocate Of Year Award
- Indian Army Major Radhika Sen has been selected to receive the 2023 Military Gender Advocate of the Year Award. The award recognises her advocacy for women and girls while serving as a peacekeeper.
- The award recognises the efforts of a military peacekeeper in promoting the principles of the 2000 Security Council resolution, that calls for protecting women and girls from conflict-related sexual violence and sets gender-related responsibilities for the UN.
- Sen is the second Indian peacekeeper to receive the honour after Major Suman Gawani, who served with the UN Mission in South Sudan and received the award in 2019.
- According to the UN, Sen served with the Organization Stabilization Mission in the Democratic Republic of the Congo (MONUSCO), where she helped create the Community Alert Networks in North Kivu as a platform that brought in community leaders, young people, and women “to voice their security and humanitarian concerns”.
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.
- According to the organizers, Gupta conquered the 8,516 metre-high Mt. Lhotse, followed by a triumphant ascent of the towering 8,849 metre high Mt. Everest at 12:45 am, midnight.
- This historic achievement marks the first Double Dual Ascent of the world’s highest and the fourth highest peaks in a single season. He was accompanied by climbing guides Pastemba Sherpa and Nima Ungdi Sherpa.
REC wins ‘Sustainability Champion – Editor’s Choice Award’ at Outlook Planet Sustainability Summit & Awards 2024
- REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a leading NBFC, has been honoured with the ‘Sustainability Champion – Editor’s Choice Award’ at the ‘Outlook Planet Sustainability Summit & Awards 2024’. The Award ceremony was organised by Outlook Group, in collaboration with IIT Goa.
- This award recognizes REC’s commitment to sustainability initiatives and its efforts in driving progress towards a greener future. The award highlights the corporation’s pledge to sustainability initiatives, leading the path toward a greener future.
- The Outlook Planet Sustainability Summit & Awards is a prominent platform that brings together industry leaders, policymakers, and sustainability advocates to celebrate and promote excellence in sustainable practices. This year’s summit featured insightful discussions, innovative ideas, and recognized the remarkable achievements of organizations dedicated to sustainability.
Guinness World Record: Robot solves Rubik’s puzzle cube in just 0.305 seconds
- According to the Guinness World Records, a robot has become the fastest in the world to solve the puzzle cube, doing so in just 0.305 seconds. The robot was created by the Mitsubishi Electric team in Japan.
- The robot’s time was more than 10 times faster than the best ever human, which was set in June last year at a Rubik’s Cube speed solving event in California.
- Mitsubishi Electric said it achieved the feat using “compact, high-power, signal-responsive servomotors”, which allowed its robot to rotate the cube 90 degrees in just 0.009 seconds.
- Korean-American Max Park currently holds the world record for solving the puzzle cube in the fastest time. He solved the cube in a record 3.13 seconds.
Nepal’s Purnima Shrestha sets record by climbing Mount Everest 3 times in 2 weeks
- Nepalese mountaineer and photojournalist, scripted history by becoming the first person to summit Mt Everest, the highest peak in the world, three times in a single climbing season.
- Purnima first summited the 8848.86-metre peak on May 12. She reached the summit again on May 19 with Pasang Sherpa and achieved her third summit.
- This was Purnima’s fourth ascent to Everest. She climbed Everest for the first time in 2018. She ascended Mt. Manaslu (8,163 mt) the following year and summited the world’s highest mountain with success the following year.
ACI Asia-Pacific & Middle East Announces Green Airports Recognition 2024
- Airports Council International (ACI) Asia-Pacific & Middle East announced the results of the Green Airports Recognition (GAR) 2024, recognising 12 airports in Asia-Pacific and the Middle East for their outstanding accomplishments in sustainability projects. The theme for the Green Airports Recognition 2024 is Biodiversity and Nature-Based Solutions.
- These airports were honoured at the ACI Asia-Pacific & Middle East / ACI World Annual General Assembly, Conference and Exhibition (WAGA 2024) in Riyadh, Kingdom of Saudi Arabia. The recognised airports have been awarded into three categories – “Platinum”, “Gold”, and “Silver” recognition – based on various airport size categories and set criteria.
- The Kempegowda International Airport (KIA) has bagged the silver category award in the Airports handling between 15 million and 35 million passengers per year. The other Indian airports to win the GAR 2024 are New Delhi’s Indira Gandhi International Airport (silver) in airports handling over 35 million passengers a year category and Lucknow’s Chaudhary Charan Singh International Airport (silver) in airports handling less than 8 million passengers a year category.
The recognised airports are:
Over 35 million passengers per annum:
- Platinum – Chhatrapati Shivaji Maharaj International Airport – Single Use Plastic Free Airport – Mumbai
- Gold – Hong Kong International Airport- Accelerating the reduction of single-use plastics at Hong Kong International Airport
- Silver – Indira Gandhi International Airport- Single Use Plastic Free Delhi Airport
Between 15-35 million passengers per annum:
- Platinum – Kempegowda International Airport – Plastics Circularity at KIAB
- Gold – Rajiv Gandhi International Airport – Single-use Plastic free RGI Airport
- Silver – Jeju International Airport – The introduction of reusable cups to airport
Between 8-15 million passengers per annum:
- Platinum – Central Japan International Airport – Bottle to Bottle’ sustainable use of PET bottle
- Gold – Adelaide Airport- Single-use plastics free precinct
- Silver – Bahrain International Airport – Combating single use plastics at Bahrain International Airport (BIA)
Less than 8 million passengers per annum:
- Platinum – Mangaluru International Airport – SUP Free Airport
- Gold – Christchurch International Airport – Waste Strategy to Circular Solutions
- Silver – Kaohsiung International Airport – Plastic-Free Life at the Airport
SCIENCE & TECHNOLOGY
GAIL commissions its first green hydrogen plant under national green hydrogen mission
- The first hydrogen green plant by GAIL (Gas Authority of India Ltd) was inaugurated in Vijaipur, Madhya Pradesh. The plant was inaugurated by the Secretary, Ministry of Petroleum & Natural Gas, Pankaj Jain, and GAIL Chairman and Managing Director Sandeep Gupta.
- The plant marks a major step towards new and alternate energy and has been installed in line with the National Green Hydrogen Mission.
- According to GAIL, this Green Hydrogen plant can produce 4.3 TPD of hydrogen through 10MW PEM (Proton Exchange Membrane) Electrolyzer units, by electrolysis of water using renewable power. The purity of hydrogen from this plant shall be 99.999 per cent (by vol.) and will be produced at a pressure of 30 Kg/cm2.
OBITUARIES
Mary Poppins songwriter Richard Sherman passes away
- Renowned Disney songwriter Richard Sherman, famed for creating iconic songs that have enchanted generations, passed away at the age of 95.
- The Sherman Brothers were celebrated as some of the most prolific composer-lyricists of their time, penning over 200 songs and earning an impressive array of accolades. Their extensive list of honors includes nine Academy Award nominations, two Oscars, three Grammy Awards, and 24 gold and platinum albums, highlighting a career that spanned several decades.
- In recognition of their extraordinary contributions to music and culture, Richard and Robert Sherman were inducted into the Songwriters Hall of Fame in 2005. Three years later, they received the National Medal of the Arts, presented to them at the White House, further cementing their status as pillars of American music.