Daily Current Affairs 9th May, 2024
Daily Current Affairs 9 May 2024 for Banking/Insurance/SSC and other related exams.
NATIONAL NEWS
National Archives of India Acquires the private paper collection of Late Shri Rafi Ahmad Kidwai
- National Archives of India (NAI) has acquired the private paper collection of Late Shri Rafi Ahmad Kidwai, comprising original correspondences of Shri Kidwai with other eminent leaders like Pt. Nehru, Sardar Patel, Shyama Prasad Mukherjee, P.D. Tandon etc.
- Rafi Ahmad Kidwai was a man of vivacity, brilliance and charm who is known for his ceaseless efforts towards Independence of our country and for refuting communalism and superstitions of every type. His political journey began in 1920 with his involvement in the Khilafat Movement and the Non-Cooperation Movement, leading to imprisonment. Kidwai served as the Private Secretary to Motilal Nehru and later held significant positions in the Congress Legislative Assembly and the United Provinces Congress Committee.
- Post-independence, he served as India’s first Minister for Communications in Jawaharlal Nehru’s cabinet, launching initiatives like the “own your telephone” service and night air mail. In 1952, he took charge of the Food and Agriculture portfolio, successfully tackling food rationing challenges with his administrative skills.
BIMSTEC Secretary General Indra Mani Pandey on a two day visit to India
- The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Secretary General, Indra Mani Pandey arrived in New Delhi on two day visit to India on 09-10 May 2024.
- He was visiting the BIMSTEC Energy Centre in Bengaluru and have several other meetings during the visit, said BIMSTEC Secretariat in Dhaka via.
- It pursues regional cooperation in seven sectors including agriculture and food security, connectivity, environment and climate change, people to people contact, science, technology and innovation, security, trade, investment and development.
Army, IAF conduct joint exercise at multiple locations in Punjab
- Indian Army’s Kharga Corps, under the aegis of Army’s Western Command, successfully conducted a three-day joint exercise with the IAF at multiple locations in Punjab.
- The exercise was conducted to refine processes and validate employment of attack helicopters in support of mechanised operations in developed terrain.
- The Gagan Strike-II exercise, which incorporated Apache and ALH-WSI helicopters, Unarmed Aerial Vehicles and special forces of Indian Army, was aimed at validating various force multipliers in support of ground offensive by strike corps along with live firing by helicopters as demanded by mechanised forces during offensive maneuvers.
Indian Coast Guard inks MoU with private sector for indigenous marine grade steel to enhance indigenous content in shipbuilding
- Indian Coast Guard (ICG) and Jindal Steel & Power (JSP) signed a Memorandum of Understanding (MoU) in New Delhi for the supply of indigenous marine grade steel to enhance the indigenous content in shipbuilding.
- Through this partnership, both entities have committed to foster indigenisation, enhance capabilities to produce and use these items in the Nation’s interest.
- The MoU underscores the importance of public-private partnerships in addressing complex security challenges, emphasising the need for collaboration between government agencies and the private sector.
Japan’s Ambassador Inaugurates Kohima Peace Memorial And Eco Park With Nagaland CM
- In Nagaland, ambassador of Japan to India, Hiroshi Suzuki and Nagaland Chief Minister Neiphiu Rio jointly inaugurated the Kohima Peace Memorial and laid the foundation stone of Eco Park Kohima.
- The Kohima Peace Memorial and Eco Park holds particular significance as it celebrates the collaborative effort between the Government of Japan and Japanese International Corporation Agency with the Government of Nagaland. It represents not only a historical significance but also serves as a symbol of peace, reconciliation and hold profound educational value.
- Mentioning that the 80th Anniversary of the Battle of Kohima is being commemorated this year, the Chief Minister said, the state government has planed a number of events that will involve the engagement of all sectors including related countries like the UK and the US.
Maldives Foreign Minister Moosa Zameer Arrives In New Delhi For Three-Day Visit
- In the backdrop of a diplomatic standoff in recent months, Moosa Zameer, Maldivian foreign minister arrived in India for an official visit to discuss bilateral relations between the two countries.
- During his visit, Zameer is scheduled to hold talks with top Indian officials and discuss a range of b bilateral and regional issues.
- The ties between the two countries came under severe strain in view of Maldives President Mohamed Muizzu insisting on withdrawal of Indian military personnel operating three military platforms in the island nation.
INTERNATIONAL NEWS
Annual investments of $260 billion required to halve agrifood emissions by 2030, achieve Net Zero by 2050: World Bank
- Replacing a quarter of India’s 8.8 million diesel irrigation pumps with solar pumps would cut agrifood emissions by 11.5 million tonnes per year. This is more than double the five million tonnes of global emissions that electric vehicles and solar panels prevented in 2020, according to a new World Bank report on reducing greenhouse gas emissions from agrifood systems.
- The report, Recipe for a Livable Planet: Achieving Net Zero Emissions in the Agrifood System, outlined actions that every country can take to make food supplies more secure, help the food system better withstand climate change and protect vulnerable people during this transition. These actions include the investments required to halve agrifood emissions to reach Net Zero goals.
- The world’s agrifood system emits about 16 gigatonnes of greenhouse gases (GHG) per year about a third of all global emissions and is projected to keep growing.
- In India, 60 per cent of emissions from agrifood systems come from the farm gate, with enteric fermentation accounting for the largest proportion, primarily due to the inefficiency of the livestock sector.
- In contrast, the emission intensity of India’s rice production is among the lowest in the world, emitting less than one kilogramme (kg) of carbon dioxide equivalent per kg of rice produced. However, “emissions from this subsector are nevertheless considerable (4 per cent), since India is the second-largest rice producer globally, after China”.
India breaks record with over $111 billion in remittances in 2022
- According to the United Nations’ latest World Migration Report, India was the highest recipient of remittances from abroad at $111 billion in 2022. Its remittance receipts were way ahead of its closely ranked peers Mexico ($61.1 billion), China ($51 billion), Philippines ($38.05 billion) and France ($30.04 billion).
- The report highlighted the steady growth of remittances to India over the years. In 2010, India received USD 53.48 billion in remittances, which grew to USD 68.91 billion in 2015, USD 83.15 billion in 2020, and ultimately USD 111.22 billion in 2022.
- This influx of funds is largely driven by a significant number of migrant workers from Southern Asia. The report noted that India, Pakistan, and Bangladesh, among the top ten recipients of international remittances, demonstrate the importance of labour migration in the region.
- However, while remittances provide vital support to families and communities, the report also pointed out that migrant workers face numerous risks, such as financial exploitation, excessive financial debt due to migration costs, xenophobia, and workplace.
BANKING & FINANCE
Canara HSBC Life Insurance introduces Promise4Growth
- Canara HSBC Life Insurance introduces Promise4Growth, a new Unit Linked Insurance Plan (ULIP) designed for customers embarking on a journey towards financial prosperity and security.
- The product underscores our commitment towards providing holistic financial solutions, seamlessly integrating lucrative investment avenues with comprehensive protection.
- Promise4Growth from Canara HSBC Life Insurance provides unparalleled flexibility, an array of investment options including a new fund “Midcap Momentum Growth Index Fund”, and substantial growth prospects for the individuals.
- With Promise4Growth, customers can chart a course towards financial prosperity, empowered by the ability to select from multiple funds and seamlessly switch between the available funds to navigate various economic cycles and milestones.
FPSB India, IFSCA sign an MoU to provide skilled professionals for GIFT IFSC
- The Financial Planning Standards Board (FPSB) India and the International Financial Services Centre Authority (IFSCA), announced that they have signed a memorandum of understanding (MoU) for talent development and promotion of Gift-IFSC as global finance hub.
- FPSB India and IFSCA aim to enhance the financial market ecosystem and nurture skilled professionals for GIFT City’s expanding financial workforce, the company said in a statement.
- Both organisations will jointly organise international and domestic events to raise awareness and establish GIFT IFSC as a ‘Global Finance Hub’.
- Some key highlights of the Memorandum of Understanding (MoU) include talent pipeline support, ecosystem development, promotional activities and research collaboration.
Setu unveils Sesame, India’s first domain-specific LLM for BFSI sector
- Setu, a leading Indian fintech company and part of the Pine Labs Group, unveiled Sesame, India’s first Large Language Model (LLM) specifically designed for the banking, financial services, and insurance (BFSI) sector.
- Developed in collaboration with indigenous AI research firm Sarvam AI, the company said this marks a “ChatGPT moment” in financial services. The unveiling took place at Adbhut India, an event organised by the non-profit People+ai.
- Sesame leverages the rich data ecosystem enabled by India’s digital infrastructure to power various features. These include improved credit underwriting, fraud detection, loan monitoring, upsell or cross-sell, and personal finance advisory.
RBI lifts restrictions on Bank of Baroda’s Bob world app
- The Reserve Bank of India (RBI) lifted the restriction on Bank of Baroda (BoB) that barred the public sector lender from onboarding customers through its mobile banking application ‘bob World’.
- The ban on bob World was imposed after the RBI said it found lapses in the process followed by the lender in onboarding customers through the mobile app.
- In October last year, the RBI directed the government-owned Bank of Baroda to suspend any further onboarding of their customers onto the ‘bob World’ mobile application.
HDFC Bank, Atal Innovation Mission empower social sector startups with Rs 19.6 crore grants
- HDFC Bank said it supported social sector startups in India with grants worth Rs 19.6 crore in FY24, in partnership with Atal Innovation Mission (under NITI Aayog).
- In FY 2023-24, 170 social start-ups received funding via 41 incubators, with a total of Rs 19.6 crore in the ‘Parivartan Start-up Grants programme.’
- The focus areas for the 2024 grants included climate innovation, financial inclusion, agriculture and sustainable rural economy, accessible and affordable healthcare, education and livelihood enhancement, gender diversity and inclusion.
BUSINESS & ECONOMY
Adani Green Energy signs 20-year deal for wind power stations in Sri Lanka
- Sri Lanka has signed 20-year wind power agreement with Adani Green Energy Limited (AGEL) for two wind power stations. As per the agreement, AGEL will be paid Rs 8.26 per kWh for the wind energy project.
- The company had previously secured approval in February 2023 to invest $442 million in developing 484 MW of wind power plants in Mannar town and Pooneryn village, both situated in Sri Lanka’s Northern province.
- This collaboration comes amidst Sri Lanka’s efforts to address energy challenges, including power blackouts and fuel shortages experienced during its economic crisis in 2022.
NCLT approves Sapphire Media’s acquisition of Big 92.7 FM
- The National Company Law Tribunal (NCLT) Mumbai has sanctioned Sapphire Media’s acquisition plan for Reliance Broadcast Network’s Big 92.7 FM. This approval follows a resolution process initiated in February 2023 under the Insolvency and Bankruptcy Code.
- Sapphire Media’s resolution plan, greenlit by 88.97% of Reliance Broadcast Network’s creditors’ committee, entails a payment of Rs. 261 crore ($31 million) against admitted liabilities totaling Rs. 947.59 crore.
- The plan allocates Rs. 255 crore to secured financial creditors against their Rs. 578.35 crore liabilities. However, unsecured financial creditors will not receive payouts despite their Rs. 347.47 crore claim. Operational creditors will be paid Rs. 6 crore against their Rs. 21.77 crore liabilities.
SPORTS
Yuzvendra Chahal makes T20 history, becomes first Indian bowler to claim 350 wickets
- Yuzvendra Chahal, representing Rajasthan Royals, becoming the first Indian bowler to claim 350 wickets in T20 cricket history.
- The Rajasthan Royals spinner reached this milestone during the IPL match against Delhi Capitals, securing the wicket of Rishabh Pant. Chahal is the fifth spin bowler and sixth Asian bowler to reach this milestone, showcasing his significance in the realm of T20 cricket.
- Chahal accomplished this milestone in his 301st appearance in the format. The next best Indian on the list is veteran Mumbai Indians bowler Piyush Chawla, with 310 wickets. Overall, he stands 11th on the list, which is topped by former West Indies cricketer Dwayne Bravo with 625 wickets in 574 appearances.
Indian contingent bags 43 medals at ASBC Asian U-22 and Youth Boxing Championships in Astana, Kazakhstan
- In boxing, the Indian contingent wrapped up their electrifying journey at the ASBC Asian U-22 and Youth Boxing Championships with a remarkable haul of 43 medals in Astana, Kazakhstan. This includes 12 gold, 14 silver, and 17 bronze medals from both categories.
- The Indian U-22 team finished with 21 medals, including seven gold, five silver, and nine bronze medals,, while the youth section bagged 22 medals, including five gold, nine silver, and eight bronze medals.
- India finished with the second-highest medal count, only behind the hosts, Kazakhstan, who have won 48 medals.
Indian Milk Producer Amul Appointed As ‘Official Sponsor’ Of Sri Lanka Men’s Team For ICC Men’s T20 World Cup 2024
- Sri Lanka Cricket has announced that Indian milk producer Amul has been appointed as the ‘Official Sponsor’ of the Sri Lanka Men’s Team for the duration of the ICC Men’s T20 World Cup 2024.
- Sri Lanka will kick off the ICC Men’s T20 World Cup 2024 campaign on June 3, 2024, facing South Africa in New York. The ICC Men’s T20 World Cup 2024 will be held in the West Indies and the USA from June 1 to 29.
- Sri Lanka will kick off the ICC Men’s T20 World Cup 2024 campaign on June 3, 2024, facing South Africa in New York. The ICC Men’s T20 World Cup 2024 will be held in the West Indies and the USA from June 1 to 29.
Coca-Cola India announces its first ever partnership with Hockey India, for the National Women’s Hockey League
- Anandana, the Coca-Cola India Foundation, announces its first ever partnership with Hockey India, for the National Women’s Hockey League 2024.
- The 1st Phase of the tournament commenced on 30thApril, and it will conclude on 9thMay 2024, in Ranchi, Jharkhand. The domestic league promises an exhilarating showcase of talent and skill.
- In line with Coca-Cola India’s commitment to sports, the three-year collaboration underscores its role in positively shaping the sports and gender equality landscape. The partnership also aligns with the company’s #SheTheDifference campaign, an initiative to celebrate, uplift, and support women.
- This strategic partnership aims to elevate women’s hockey by tackling essential components, such as providing specialized coaching, the provision of training equipment, nutritional support, and the organization of camps and tournaments to foster growth.
APPOINTMENTS
John Swinney sworn in as Scotland’s first minister
- A 60-year-old Scottish politician, John Swinney has been legally sworn in as Scotland’s seventh first minister at the Court of Session in Edinburg.
- Swinney takes office 25 years after he was first elected to the Scottish Parliament. Swinney had promised a “significant” role to Forbes, who narrowly lost to Humza Yousaf in last year’s leadership contest to replace Nicola Sturgeon.
- Kate Forbes has returned to the Scottish government as deputy first minister as John Swinney unveiled an almost entirely unchanged cabinet. Forbes was the only appointment of significance in a reshuffle in which nine cabinet secretaries kept their existing portfolios, prompting derision from Scottish Labour, who dismissed Swinney’s “continuity cabinet”.
Subodh Kumar appointed as Director in Ministry of Ayush
- Subodh Kumar, an IAS officer of the 2010 batch from the Tamil Nadu cadre, has been appointed as the Director of the Ministry of Ayush. His appointment is effective from the date of assuming charge and is initially until October 8, or until further orders, whichever is earlier.
- Presently, Kumar is on ‘Compulsory wait’ in the Ministry of Food Processing Industries. The order directs him to immediately leave his current post at the Ministry of Food Processing Industries and assume a new role at the Ministry of Ayush.
IRDAI approves appointment of Keki Mistry as Chairman of HDFC Life
- The Insurance Regulatory and Development Authority (IRDAI) approved the appointment of Keki Mistry as Chairman of HDFC Life. Earlier, the insurer had appointed Mistry as the Chairman of the Board as Deepak Parekh stepped down from the post.
- This endorsement came after the insurer’s board unanimously selected Mistry for the role, effective immediately upon regulatory approval.
- Keki Mistry, a Chartered Accountant and Fellow Member of the Institute of Chartered Accountants of India, previously served as Vice Chairman and CEO of Housing Development Finance Corporation (HDFC) Limited. With HDFC’s amalgamation with HDFC Bank, Mistry transitioned to a Non-Executive Director role on HDFC Bank’s Board. Additionally, he holds directorial positions in several other prominent companies.
AWARDS
Pulitzer Prizes: 2024 Winners List
- Columbia University of the United States of America announced the 2024 Pulitzer Prize winners. The award will be conferred by the president of Columbia University in a ceremony later.
- The Pulitzer Award is considered the most prestigious prize in the field of Journalism. It recognises work in 15 journalism categories and eight arts categories. It also gives special citations and awards.
Journalism Category
- Public Service : Pro Publica (Joshua Kaplan, Justin Elliott, Brett Murphy, Alex Mierjeski, and Kirsten Berg)
- Investigative Reporting : Hannah Dreier (The New York Times)
- International Reporting : Staff of The New York Times
- Editorial Writing : David E. Hoffman (The Washington Post)
- Breaking News Photography : Photography Staff of Reuters
- Feature Photography : Photography Staff of Associated Press
- Audio Reporting : Staff of the Invisible Institute and USG Audio
Book, Drama, and Music Category:
- Fiction : Night Watch by Jayne Anne Phillips
- Drama : Primary Trust by Eboni Booth
- History: No Right to an Honest Living: The Struggles of Boston’s Black Workers in the Civil War Era by Jacqueline Jones
- Biography : King: A Life by Jonathan Eig Master Slave Husband Wife: An Epic Journey from Slavery to Freedom by Ilyon Woo
- Memoir and Autobiography : Liliana’s Invincible Summer: A Sister’s Search for Justice by Cristina Rivera Garza
- Poetry : Tripas : Poems by Brandon Som
- Music : Adagio (For Wadada Leo Smith) by Tyshawn Sorey
- General Nonfiction : A Day in the Life of Abed Salama: Anatomy of a Jerusalem Tragedy by Nathan Thrall.
Special Awards and Citations
- A special citation was issued to the late writer and critic Gregory Stephen Tate (Greg Tate), an American writer, musician, and producer.
- A special citation was also given to journalists and media workers covering the war in Gaza.
Infosys Receives ISO 42001:2023 Certification for Artificial Intelligence Management System
- Infosys, a global leader in next-generation digital services and consulting, announced that it has been certified with ISO 42001:2023, world’s first international standard on AI management systems, by TUV India (part of TUV Nord Group), a leading independent provider of technical quality and safety services.
- Infosys is among the first IT services companies globally to have earned the certification for implementing an Artificial Intelligence Management System (AIMS) framework that fosters responsible AI practices and adherence to regulatory requirements for enhanced efficiency and accountability in AI initiatives.
- This AIMS framework is a part of Infosys Topaz Responsible AI Suite, a set of 10+ offerings built around the Scan, Shield, and Steer framework. The certification underscores Infosys’ dedication to responsible AI practices, enhancing accountability, and mitigating risks associated with AI initiatives.
SCIENCE & TECHNOLOGY
Isro conducts successful ignition test for boosting LVM3’s capacity
- The Indian Space Research Organisation (Isro) has successfully conducted the first ignition trial of a semi-cryogenic pre-burner at its Isro Propulsion Complex (IPRC) in Mahendragiri, Tamil Nadu.
- This achievement marks a crucial step in the development of a 2,000 kN thrust semi-cryogenic engine, which is set to enhance the payload capability of Isro’s Geosynchronous Satellite Launch Vehicle Mk III (LVM3) and power future launch vehicles.
- The semi-cryogenic engine, being developed by Isro’s Liquid Propulsion Systems Centre (LPSC), utilizes a propellant combination of liquid oxygen (LOX) and refined kerosene (IsroSENE). This engine is designed to provide heavy-lift capability to Isro’s upcoming launch vehicles, including the Next Generation Launch Vehicle (NGLV).
- The successful ignition test, conducted on May 2, 2024, at the newly dedicated Semi-Cryogenic Integrated Engine and Stage Test (SIET) facility, demonstrated the smooth and sustained ignition of the pre-burner, a critical component for the starting of the semi-cryogenic engine.