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Current Affairs One - Liner : 17th May 2024

Published on May 17, 2024
  • National:
    • India has extended a budgetary support of USD 50 million to the Maldives. This was facilitated by the State Bank of India subscribing to a USD 50 million Government Treasury Bill issued by the Maldivian Ministry of Finance for another year.
Current Affairs One - Liner : 17th May 2024
    • World Aquatics has opened a new competition swimming pool in Thimphu, Bhutan at an altitude of 8,200 feet (2,500 meters), making it the world’s highest competition pool. This is part of the Pools for All Program to promote aquatic sports globally. The facility will benefit Bhutan’s national swimmers.
    • International:
    • Japan and the U.S. have signed an agreement to jointly develop interceptors for hypersonic missiles. This is part of a plan costing over $3 billion and is aimed at countering the threat of hypersonic weapons from countries like China, Russia, and North Korea. The goal is to have these interceptors operational by the 2030s.
  • Banking:
    • The Asian Development Bank (ADB) approved a USD 148.5 million loan on May 17, 2024, to modernize Sikkim’s power distribution system. The project includes system upgrades, substation enhancements, and the installation of a control system. It also focuses on livelihood improvement and healthcare facility enhancement.
    • Tata AIG General Insurance and Aurm, an asset protection firm, announced a partnership on May 14, 2024. This collaboration aims to provide comprehensive insurance coverage for valuables stored in Aurm’s secure vaults. The vaults are insured for up to Rs 25 lakh. This initiative is designed to address the gap in safe storage solutions for valuables in India.
    • In the May 2024 review, MSCI (Morgan Stanley Capital International) has made changes to the MSCI Global Standard Index. 13 Indian stocks were added, including JSW Energy, Canara Bank, NHPC, and others, while 3 stocks, namely Berger Paints, Indraprastha Gas, and Paytm, were removed. These changes will be effective from the end of May 31, 2024. This could lead to an estimated FII passive inflow of about $2.5 billion in India.
    • Quant Money Managers has received approval from the Reserve Bank of India (RBI) to acquire up to 9.98% stake in RBL Bank through various schemes of Quant Mutual Fund. The acquisition must comply with various regulations and should be completed by May 12, 2025. Currently, Quant Money Managers holds 4.68% of RBL Bank’s equity share capital.
  • Economy:
    • The United Nations revised India’s economic growth projection for 2024 to 6.9% on May 17, 2024. This is an upward revision from the previous forecast of 6.2%. The revision was driven by strong public investment, resilient private consumption, and strong exports in pharmaceuticals and chemicals.
  • Reports:
    • The report “Shrinking democracy, growing violence: Internet shutdowns in 2023” by Access Now and the #KeepItOn coalition, launched on May 15, 2024, states that India led the world in internet shutdowns for the sixth consecutive year with 116 instances in 2023. Manipur was the worst affected region with a shutdown lasting 212 days. The report also highlights an increase in shutdowns lasting over five days and a majority of shutdowns targeting mobile networks.
  • Important Days:
    • World Hypertension Day is observed on May 17 to raise awareness about hypertension, a condition affecting over a billion people globally. The theme for 2024 is ‘Measure Your Blood Pressure Accurately, Control It, Live Longer’, emphasizing the importance of regular blood pressure monitoring and control.
    • The International Day of Living Together in Peace is observed on May 16 every year. It’s a day recognized by the United Nations to promote peace, tolerance, inclusion, understanding, and solidarity.
    • National Endangered Species Day is observed annually on the third Friday of May to raise awareness about the plight of endangered species and the need to protect them. In 2024, it fell on 17th May. The theme for the year was “Celebrate Saving Species”, calling for action to reduce harmful human activities that threaten species.
  • Appointments:
    • Kapil Sibal, senior advocate and Rajya Sabha MP, was elected as the President of the Supreme Court Bar Association (SCBA) on May 16, 2024. He secured 1,066 votes, defeating his nearest rival, Pradeep Rai. This is the fourth time Sibal has held this position.
    • On May 16, 2024, senior IPS officers A.Y.V. Krishna and N. Venu Gopal were appointed as additional directors in the CBI. Krishna is from the Assam-Meghalaya cadre and Gopal is from the Himachal Pradesh cadre.
    • Lawrence Wong, previously the Deputy Prime Minister, has become the new Prime Minister of Singapore, succeeding Lee Hsien Loong. He was sworn in on May 15 and is the first leader born after the country’s independence
  • Books:
    • “At The Wheel of Research” is a biography of Dr. Soumya Swaminathan, the former Chief Scientist at the World Health Organization (WHO), written by Anuradha Mascarenhas. The book captures Swaminathan’s journey from an aspiring scientist to a global trailblazer
  • Obituaries:
    • Renowned Hindi writer and Padma Shri recipient Malti Joshi passed away at the age of 90. She wrote more than 60 books in Hindi and Marathi languages.

Questions:

Q.1 Who is the author of “At The Wheel of Research”?
a. Dr. Soumya Swaminathan
b. Dr. M.S. Swaminathan
c. World Health Organization
d. Anuradha Mascarenhas
Q.2 What is the revised economic growth projection for India in 2024 by the United Nations?
a. 6.9%
b. 6.2%
c. 7.2%
d. 7.9%
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