Daily Current Affairs 30th May, 2024
Daily Current Affairs 30 May 2024 for Banking/Insurance/SSC and other related exams.
NATIONAL NEWS
MEA, MeitY and CSC e-Governance Services India Ltd sign MoU to provide eMigrate services through Common Services Centres
- A Memorandum of Understanding (MoU) is entered into between Ministry External Affairs (MEA), Government of India, Ministry of Electronics and Information Technology (MeitY), Government of India and CSC eGovernance Services India Limited to create a synergy between CSC SPV & MEA to provide the eMigrate services through CSCs in the country.
- The MoU has been signed during the conference of National Workshop on “Powering Transformation through UI/UX for Digital Governance”.
- eMigrate project is undertaken to assist mainly the blue-collar workers going to Emigration Check Required (ECR) countries. The project was conceptualized to address issues faced by the migrant workers by making emigration process online seamless and also to bring foreign employers and registered recruitment agents and insurance companies on one common platform aimed at promoting safe and legal migration.
Under this MoU, eMigrate Portal of MEA would be integrated with CSC’s portal, to provide following eMigrate services to the citizens through CSCs:
- Facilitate registration of applicants on eMigrate portal through CSCs.
- Facilitation of uploading and processing the required documents for the applicants on eMigrate portal through CSCs.
- Facilitate and supporting booking for medical and other services required by migrant workers or applicants registered on eMigrate portal through CSC.
- Creating awareness about eMigrate services amongst citizens across India.
INTERNATIONAL NEWS
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.
- The Colombo Process is a regional consultative forum consisting of 12 member states from South and Southeast Asia focused on the management of overseas employment and the protection of migrant workers.
- The Colombo Process serves as a platform for member states to share best practices and policies regarding overseas employment. It is a non-binding process that facilitates discussions on improving the management of migration and protecting the rights of migrant workers.
India Announces One Million Dollar Relief Assistance For Landslide-Hit Papua New Guinea
- India has announced an immediate relief assistance of one million US dollar to support relief, rehabilitation and reconstruction efforts to Papua New Guinea in the wake of devastating landslide. Over 2,000 people were killed in the landslide.
- A state of emergency has been declared across the disaster zone and a neighbouring area, with a combined population of between 4,500 to 8,000, although not all have been ordered to evacuate yet.
- Moreover, India has firmly stood by Papua New Guinea during times of difficulty and devastation caused by natural disasters, including in the wake of the earthquake in 2018 and volcanic eruptions in 2019 and 2023.
- India is committed to Humanitarian Assistance and Disaster Relief (HADR) and continues to be a responsible and steadfast responder.
WHO Chief Mentions Global Traditional Medicine Centre In India Addressing World Health Assembly
- World Health Organisation (WHO) Director-General Tedros Adhanom Ghebreyesus mentioned the Global Traditional Medicine Centre established in India, and the first global summit on traditional medicine, organised by the WHO and co-hosted by the Ministry of Ayush, India, in his address at the 77th World Health Assembly in Geneva.
- Ghebreyesus noted that WHO continues to support member states to strengthen their regulatory systems. He said that WHO recognised Turkiye’s system as having achieved maturity level 3, and Saudi Arabia’s as level 4.
- He stated Singapore, South Korea and Switzerland were the first three countries to become WHO-Listed Regulatory Authorities, making them “regulators of reference.” He added, “And just last week we listed a further 33 national and regional regulators.”
- In his address, he said that WHO estimates that 777 million people will be better protected from health emergencies by 2025, three-quarters of the way to our target of 1 billion. He further said, “Of course, “better protected” does not mean completely protected, and as the COVID-19 pandemic demonstrated, all Member States have much work to do, individually and together.”
BANKING & FINANCE
RBI Guv Shaktikanta Das launches PRAVAAH, Retail Direct mobile app and FinTech Repository
- The Reserve Bank of India (RBI) launched three major initiatives namely the PRAVAAH portal, RBI Retail Direct mobile application and FinTech Repository as earlier announced in April 2023, April 2024 and December 2023 respectively.
PRAVAAH portal (Platform for Regulatory Application, VAlidation and AutHorisation):
- It is a secure, centralized web-based platform designed for individuals and entities to seek authorizations, licenses, or regulatory approvals from the RBI.
- Moreover, it features online application submission, status tracking, and timely decision-making, covering 60 different application forms across various regulatory and supervisory departments.
Retail Direct Mobile App:
- Retail Direct Mobile App has been introduced to facilitate seamless and convenient access to the retail direct platform for retail investors and ease of transacting in government securities (G-Secs).
- With the launch of the retail direct mobile app, retail investors can now transact in G-Secs using the mobile app on their smartphones.
- Both repositories, managed by the Reserve Bank Innovation Hub (RBIH), are designed to support policymakers and industry participants with valuable sectoral insights.
FinTech Repository:
- The FinTech Repository aims to capture essential information about FinTech entities, their activities, technology uses, etc. FinTechs, both regulated and unregulated, are encouraged to contribute to the Repository accessible at the URL: https://fintechrepository.rbihub.in.
- Simultaneously, a related repository for only RBI regulated entities (banks and NBFCs) on their adoption of emerging technologies (like AI, ML, Cloud Computing, DLT, Quantum, etc.), called EmTech Repository is also being launched and can be accessed at the URL: https://emtechrepository.rbihub.in.
Poonawalla Fincorp, IndusInd Bank launch co-branded RuPay credit card
- Poonawalla Fincorp Limited, in association with IndusInd Bank, has launched the co-branded ‘IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card’. The company said the new card will offer customers rewards and other benefits.
- Users can earn rewards for every ₹100 spent, including UPI transactions, and benefit from 2.5 times reward points on e-commerce transactions. Additional perks include a ₹0.40 cash credit per reward point, buy-one-get-one movie ticket offers through BookMyShow, a 1% fuel surcharge waiver, and milestone achievement rewards.
- As it is a RuPay credit card, you can use it in any of the popular Unified Payments Interface (UPI) applications such as Google Pay, BHIM, Paytm, and PhonePe. Poonawalla Fincorp IndusInd Bank eLITE RuPay Platinum Credit Card will also have no joining fee or annual fee.
TATA AIG launches Surety Insurance Bonds
- TATA AIG General Insurance, a private general insurer, has rolled out Surety Insurance Bonds to support the government’s ambitious agenda on infrastructure development, which has been allocated 3.3 percent of the GDP in FY 2024.
- TATA AIG’s Surety Insurance Bonds have been designed to facilitate smoother execution of infrastructure projects and commercial contracts across both government and private sectors, catering to diverse project needs.
- A Surety Insurance Bond provides coverage to the project owner or beneficiary against losses arising from the contractor’s non-performance, non-fulfillment, or breach of contractual obligations as stipulated in the agreement or bidding documents.
IRDAI revamps health insurance norms; widening choices, improving affordability for policyholders
- In a significant move towards the empowerment of policyholders and bolstering inclusive health insurance, the Insurance Regulatory and Development Authority of India (IRDAI) has announced a major revamp of regulatory norms.
- All the entitlements in a health insurance policy available to a Policyholder have been brought in one place in the Master Circular.
- The repeal of previous circulars has been done to provide for new norms and also to make a single point reference on the total norms for policyholders as well as the insurers.
- It also emphasised measures towards providing a seamless, faster, and hassle-free claims experience to a policyholder procuring a health insurance policy and ensuring enhanced service standards across the health insurance sector.
- This is aimed at providing suitability and affordability. The insurers will also need to provide a Customer Information Sheet (CIS) along with every policy document.
- In the event of no claims during the policy period, the insurers may reward the policyholders by providing an option to choose a No Claim Bonus, either by increasing the sum insured or discounting the premium amount.
- Policyholder to get a refund of the premium or proportionate premium for the unexpired policy period if he chooses to cancel his/her policy at any time during the policy term.
BUSINESS & ECONOMY
CCI approves demerger of ITC’s hotel business into a separate entity
- The Competition Commission of India (CCI) authorised ITC Ltd’s demerger of its hotel business into a separate firm. Following the demerger, shares of ITC Hotels Ltd, a new corporation, will be listed on the public exchanges.
- The proposed merger involves the demerger of the demerged entity into ITC’s wholly-owned newly established subsidiary, ITC Hotels.
- According to a notification, ITC will retain a 40% stake, with the remaining 60% owned by the conglomerate’s shareholders.
- In India, ITC operates a diverse range of operations, including FMCG, hotels, paperboards, paper and packaging, and agribusiness.
BHEL ties up with BARC for electrolyser system to produce hydrogen energy
- Bharat Heavy Electricals Limited (BHEL) has signed an agreement with the Bhabha Atomic Research Centre (BARC) to manufacture hydrogen using a 50 kW alkaline electrolyser system.
- BHEL developed the hydrogen production method in-house, and it is heavily reliant on local materials. Through this collaboration with BARC, BHEL seeks to scale up and commercialise Indigenous Alkaline Electrolyser Technology for use in industries such as refineries, fertilisers, steel, transportation, and so on.
- This will be a step ahead in BHEL’s contribution to the ‘National Green Hydrogen Mission’ and ‘Aatma Nirbhar Bharat Abhiyan’
- By using indigenous technology, BHEL hopes to make a substantial contribution to the development of sustainable hydrogen generation processes, thereby assisting India’s shift to cleaner energy sources.
Reliance Industries to begin construction on India’s first multimodal logistics park near Chennai
- Reliance Industries is set to begin construction on India’s first Multimodal Logistics Park at Mappedu near Chennai in June, a project conceptualized 12 years ago.
- Despite initial setbacks, the project, valued at Rs 1,424 crore and spanning 184.27 acres in Tiruvallur district, is now ready to proceed, with potential to revolutionize the southern region’s logistics landscape.
- Reliance Industries secured the bid for the Multimodal Logistics Park in 2022, surpassing the Adani Group. The park aims to deliver efficient, cost-effective logistics services including cargo aggregation, distribution, intermodal transfer, sorting, and repacking. Initial delays were due to connectivity issues and poor private sector response.
TCS And IIT Bombay Collaborate To Create India’s First Semiconductor Chip Imaging Tool
- IT services major Tata Consultancy Services has entered into a partnership with the Indian Institute of Technology-Bombay, to develop what it said is India’s first quantum diamond microchip imager.
- The Quantum Diamond Microchip Imager, an advanced sensing tool for semiconductor chip imaging, will help reduce the chances of chip failures and improve the efficiency of electronic devices.
- Collaboration between TCS and IIT-Bombay to develop a quantum imaging platform for the non-destructive examination of chips is the first such initiative in India.
- Over the next two years, experts from TCS will work with Kasturi Saha, Associate Professor in the Department of Electrical Engineering of IIT-Bombay to develop the quantum imaging platform in the PQuest Lab.
Reliance signs deal with Russia’s Rosneft purchasing oil in roubles
- India’s Reliance Industries, operator of the world’s biggest refining complex, has entered into a one-year deal with Russia’s Rosneft to acquire at least 3 million barrels of oil a month in Roubles, revealed sources.
- The shift to rouble payments follows Russian President Vladimir Putin’s push for Moscow and its trading partners to find alternatives to the Western financial system to facilitate trade despite U.S. and European sanctions.
- A term deal with Rosneft also helps privately run Reliance to secure oil at discounted rates at a time when the OPEC+ group of oil producers is expected to extend voluntary supply cuts beyond June.
MG Motor, HPCL join hands to enhance EV charging infrastructure
- MG Motor India said it has joined hands with Hindustan Petroleum Corporation Ltd (HPCL) to expand EV charging infrastructure across the country.
- As per the collaboration, MG and HPCL will together install 50kW/60kW DC fast chargers at key locations covering highways and cities across India.
- The partnership focuses on providing convenience to EV users by increasing the availability of EV chargers during their long distance and intercity commutes.
- Through this partnership with MG Motor India, HPCL shall leverage the vehicle base of MG to increase the utilisation of its chargers installed across India. Furthermore, HPCL aims to install 5,000 electric vehicle charging stations by December 2024.
APPOINTMENTS
Govt approves 5 Secretary-level appointments
- The Appointments Committee of the Cabinet (ACC) has approved the appointments of five Secretary level appointments.
- Pradip Kumar Tripathi (IAS) has been appointed as Secretary to the Lokpal till the date of his superannuation, i.e. June 30, 2024, and thereafter on contract basis for a period of two years beyond the date of his superannuation on usual terms and conditions applicable to re-employed Central Government officers. Tripathi is a 1987-batch Indian Administrative Service (IAS) officer of AGMUT cadre. Presently, he is serving as Secretary (Coordination) in Cabinet Secretariat.
- Raj Kumar Goyal (IAS) has been appointed as Secretary in the Department of Justice under the Ministry of Law & Justice. Goyal is a 1990-batch IAS officer of AGMUT cadre. Presently, he is serving as Secretary of the Department of Border Management under the Ministry of Home Affairs.
- Amit Yadav (IAS) has been appointed as Officer on Special Duty (OSD) in the Department of Social Justice & Empowerment in the rank and pay of Secretary to the Government of India. Yadav is a 1991-batch IAS officer of AGMUT cadre. He will take of the post upon Saurabh Garg’s superannuation on July 31. Presently, he is serving in his home cadre.
- Rajendra Kumar (IAS) has been appointed as Secretary in the Department of Border Management under the Ministry of Home Affairs. He has been appointed to the post in place of Raj Kumar Goyal (IAS) upon his appointment as Secretary in the Department of Justice. Kumar is a 1992-batch IAS officer of Tamil Nadu cadre. Presently, he is serving as Director General of Employees’ State Insurance Corporation (ESIC) under the Ministry of Labour & Employment.
- Rakesh Ranjan (IAS) has been appointed as Chairman of Staff Selection Commission (SSC) in the rank and pay of Secretary to the Government of India by temporarily upgrading the post and keeping the Recruitment Rules (RR) of the post in abeyance. Ranjan is a 1992-batch IAS officer of Manipur cadre. Presently, he is serving as Special Secretary in the Department of Agriculture and Farmers Welfare.
Dr Emmanuelle Soubeyran elected as new Director General of the World Organisation for Animal Health
- France applauds the election of Dr. Emmanuelle Soubeyran as Director General of the World Organization for Animal Health (WOAH) for the 2024-2029 term. The year 2024 marks the 100th anniversary of WOAH.
- Dr Soubeyran’s election brings an end to predecessor Dr Monique Eloit’s successful 8-year tenure at the Organisation.She was elected to this position at the 91st World Assembly of Delegates, which was held in Paris.
- She takes the helm of the WOAH as bird flu is increasingly spreading to mammals, including dairy cows in the United States, raising concern that it could mutate into a virus that could easily spread between humans. She is familiar with the virus since she had been in charge of implementing France’s bird flu vaccination of poultry, the first of its kind in Europe.
Sony appoints Walt Disney executive Gaurav Banerjee as new India CEO
- 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, two people familiar with the matter.
- 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.
- Sony runs 26 channels in India, from general entertainment to sports and movies, and also a streaming service. This year, it scrapped a planned merger with India’s Zee Entertainment that would have created a $10-billion enterprise.
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), announced by the World Health Organisation (WHO). The Committee A of WHA, the event scheduled to be held from May 27 to June 1 held at Geneva, is chaired by India.
- 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. India’s chairmanship of Committee A will continue until June 1.
AWARDS
PFC receives “CSR Champion Award” at Outlook Planet Sustainability Summit & Awards 2024
- Power Finance Corporation Ltd. (PFC) has been honoured with the Corporate Social Responsibility award in the NF (Non-Fossil Fuel) business category at the Outlook Planet Sustainability Summit & Awards 2024, held in Goa.
- The Outlook Planet Sustainability Summit & Awards 2024 brought together senior government policymakers and top management of Central Public Sector Enterprises to discuss and showcase exemplary initiatives in sustainability.
- The Summit honoured luminaries and pioneers in various categories for their outstanding contributions to sustainability.
- PFC’s CSR initiatives focus on impactful projects contributing to inclusive growth and equitable development in society through education and capacity building measures.
Matthews and Waseem named ICC Players of the month for April
- The International Cricket Council (ICC) has revealed the winners of the ICC Player of the Month awards for April 2024.
- Hayley Matthews wins the ICC Women’s Player of the Month prize after spearheading the West Indies’ success in Pakistan across both ODI and T20I series.
- Matthews celebrates her third ICC Women’s Player of the Month award after previously winning in November 2021 and October 2023. Her most recent success comes thanks to an array of eye-catching all-round performances in April, resulting in 451 runs and 12 wickets across both shorter formats.
- UAE captain and opener Muhammad Waseem is named the ICC Men’s Player of the Month thanks to his notable run-scoring feats as the UAE triumphed in the ACC Premier Cup.
- ICC Men’s Player of Month, Waseem becomes the first UAE player to win the accolade and does so after a string of powerful knocks saw his side claim the ACC Premier Cup in Oman.
London-based Indian-origin artist Anish Kapoor tops the Hurun India Art List 2024
- For the sixth consecutive year, London-based Indian origin artist Anish Kapoor has topped the Hurun India Art List of the most successful Indian artists alive, released by the Hurun Research Institute. The list ranks the top 50 living Indian artists according to the sales of their works sold at public auctions as of January 1, 2024.
- The total number of lots sold last year was 789, a 46 per cent increase over the previous year, which registered sales for 539 lots. According to the report, the works of “India’s most successful artists registers record sales of Rs 301 crore”, marking a 19 per cent year-on-year growth.
- Ranked at number two is Baroda-based artist-pedagogue Gulammohammed Sheikh, whose 2015 canvas Ark Kashmir sold for Rs 21 crore last year. Number three on the list is Delhi-based Arpita Singh, who also retains her position as the most successful woman artist.
- The oldest artist on the list is 98-year-old Krishen Khanna, ranked at number five, whose works cumulatively fetched Rs 18 crore in sales. The youngest is London-based 27-year-old Raghav Babbar, who is ranked eighth with Rs 12 crore cumulative sales.
Top 5 Artists In Hurun India Art List 2024
- Anish Kapoor: 79.9 crore.
- Gulam Mohammed Sheikh: Rs 24.1 crore.
- Arpita Singh: Rs 22.9 crore.
- Rameshwar Broota: Rs 19.3 crore.
- Krishen Khanna: Rs 18 crore.
SCIENCE & TECHNOLOGY
DRDO Successfully Flight-Tested RudraM-II Air-To-Surface Missile From Su-30 MK-I Platform Of IAF
- Defence Research & Development Organisation (DRDO) successfully flight-tested the Rudram-II air-to-surface missile from the Su-30 MK-I platform of the Indian Air Force (IAF) off the coast of Odisha.
- The flight-test met all the trial objectives, validating the propulsion system and control & guidance algorithm. The performance of the missile has been validated from the flight data captured by range tracking instruments like electro-optical systems, radar and telemetry stations deployed by Integrated Test Range, Chandipur at various locations, including the on-board ship.
- RudraM-II is an indigenously-developed solid-propelled air-launched missile system meant for Air-to-Surface role to neutralise many types of enemy assets. A number of state-of-the-art indigenous technologies developed by various DRDO laboratories have been incorporated in the missile system.
Thapar Institute to submit proposal to Isro to launch its first student satellite ‘Thaparsat’
- Thapar Institute of Engineering and Technology (TIET) said it will soon submit a proposal to Indian Space Research Organisation (Isro) for launching of its first student satellite ‘Thaparsat’ to monitor pollution in north India.
- The initiative was launched five years ago by the Institute to develop technological advances in satellite building and space missions.
- The Thapar satellite program aims to monitor environment issues and real-time pollution levels in Punjab and the northern region of India.
- The purpose of Thaparsat is to monitor real-time pollution caused by greenhouse gases like carbon dioxide, methane, and nitrous oxide, as well as measure soil moisture content in northern India.
World’s first wooden satellite built by Japanese Scientist
- The world’s first wooden satellite has been built by Japanese researchers who said their tiny cuboid craft is scheduled to be carried into space off on a SpaceX rocket in September. The developers plan to hand the satellite, made from magnolia wood and named LignoSat.
- Each side of the experimental satellite developed by scientists at Kyoto University and logging company Sumitomo Forestry measures just 10 centimetres (four inches).
- The creators expect the wooden material will burn up completely when the device re-enters the atmosphere — potentially providing a way to avoid the generation of metal particles when a retired satellite returns to Earth.
- These metal particles could have a negative impact on the environment and telecommunications, the developers said as they announced the satellite’s completion recently.
OBITUARIES
Disney songwriting legend Richard Sherman passes away
- Disney songwriting legend Richard M. Sherman, remembered for “Mary Poppins” and “It’s a Small World,” among many others, has died at 95 years old.
- Along with his brother Robert B. Sherman, who died in 2012 at age 86, Richard Sherman penned some of the most beloved songs in Disney’s soundtrack oeuvre.
- Richard garnered nine Academy Award nominations (winning two Oscars for his work on the 1964 classic Mary Poppins), won three GRAMMY Awards, and received 24 gold and platinum albums over the course of his 65-year career.