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Current Affairs One - Liner : 18th May 2024

Published on May 18, 2024
  • National:
    • Warburg Pincus, a leading global growth investor, has acquired Shriram Housing Finance Limited (SHFL) from Shriram Finance Limited (SFL) for Rs 4,630 crores. The acquisition will be made through Warburg Pincus’s affiliate, Mango Crest Investment Ltd. Additionally, Valiant Partners L.P., which holds the remaining ownership in SHFL, will divest its entire equity stake to Warburg Pincus.
Current Affairs One - Liner : 18th May 2024
  • International:
    • Brazil has been declared the host of the 2027 FIFA Women’s World Cup, a decision that was announced on 17 May 2024. This marks a significant milestone as Brazil will be the first South American nation to host the Women’s World Cup.
    • Venezuela, once home to six glaciers, has lost all of them due to rapid melting. The last one, the Humboldt glacier, shrunk faster than expected and was reclassified from a glacier to an ice field. This makes Venezuela the first modern country to lose all its glaciers, a significant event in the context of climate change and global warming.
    • The World Health Organization (WHO) prequalified a second dengue vaccine, TAK-003, developed by Takeda Pharmaceuticals, on 10 May 2024. This vaccine contains weakened versions of the four types of dengue virus, helping the body build immunity.
    • The Blue Residency Visa is a new long-term residency visa launched by the United Arab Emirates (UAE) on May 15, 2024. It’s a 10-year visa for individuals who have made significant contributions to environmental protection and sustainability.
  • Banking:
    • On May 17, 2024, the International Finance Corporation (IFC) provided a $500 million loan to HDFC Bank. The loan is intended to increase microloans, especially for underserved women in India. The bank plans to use this loan for microfinance lending programs exclusively for women borrowers.
    • The Life Insurance Corporation of India (LIC) has received an extension from the Securities and Exchange Board of India (SEBI) to meet the minimum public shareholding norms. The revised deadline is May 16, 2027, by which time LIC needs to achieve a 10% public shareholding. Currently, the public shareholding in LIC is at 3.5%.
    • The National Payments Corporation of India (NPCI) has announced a 25% cashback offer for RuPay cardholders on in-store purchases in Canada, Japan, Spain, Switzerland, UAE, UK, and US. The offer is valid from May 15 to July 31, with a maximum cashback of ₹2,500 per transaction.
    • On May 15, 2024, PhonePe and LankaPay announced a collaboration to enable UPI transactions for PhonePe users in Sri Lanka. This allows PhonePe users to make payments at LankaPayQR merchants across Sri Lanka, with the account debited in INR. The partnership is facilitated through LankaPay’s alliance with NPCI International Payments Limited (NIPL).
  • Economy:
    • Retail inflation in India for April 2024 was 4.83%, a slight decrease from the previous month. The Consumer Food Price Index (CFPI) stood at 8.70% in April 2024, indicating a rise in food prices. The data was released on May 13, 2024.
    • India’s pulses exports in the fiscal year 2023-24 declined by 22% in volume and 2.5% in value terms. The volume of exports was 5.94 lakh tonnes, down from 7.62 lakh tonnes the previous year. In value terms, exports were worth $644 million, compared to $661 million the previous year. This decline was due to factors such as higher prices, bad weather impacting production, and prices of chana being higher than the minimum support price. The report was updated on May 17, 2024.
    • India’s poultry exports reached a record high of $184.58 million (₹1,530 crore) in FY24. This increase was driven by strong demand from countries like Oman and Sri Lanka. However, with production normalizing in countries affected by the Ukraine crisis and the earthquake in Turkey, Indian products are facing competition in overseas markets.
  • Science & Technology:
    • Scientists at IIT Roorkee developed a machine that transforms pine needles into a sustainable source of income for local communities. The machine compresses pine needles into bricks. It was reported on May 17, 2024, but the development started about 12 years ago.
  • Defence:
    • The Indian Army has set up two of the world’s highest tank repair facilities at altitudes over 14,500 feet in Eastern Ladakh, near the China border. These facilities support over 500 tanks and infantry combat vehicles deployed after the 2020 India-China standoff. The facilities ensure operational readiness of armoured vehicles in extreme conditions, enhancing serviceability and mission reliability.
  • Important Days:
    • World AIDS Vaccine Day, also known as HIV Vaccine Awareness Day, is observed annually on May 18. The day aims to raise awareness about the importance of developing a vaccine against HIV/AIDS and recognizes the efforts of researchers, volunteers, and healthcare workers.
    • Armed Forces Day is celebrated on the third Saturday in May. This day is dedicated to honor the men and women who serve the United States’ armed forces. Armed Forces Day was first celebrated on 20 May 1950. In 2024, it falls on 18th May.
  • Appointments:
    • Andrej Plenkovic, the leader of the Croatian Democratic Union (HDZ), has been appointed as the Prime Minister-Designate of Croatia for his third term. His government, approved by the Croatian parliament, is dominated by the HDZ party and includes a coalition with the Homeland Movement (DF).
    • Mahamat Deby Itno, the military leader of the Republic of Chad, has been declared the winner of the presidential elections held on May 6. He secured 61.3% of the vote, significantly ahead of his closest rival, Prime Minister Succes Masra, who received 18.5% of the vote.
  • Awards & Honours:
    • 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". The award was presented at the 2024 Geospatial World Forum in Rotterdam in a special ceremony on May 14, 2024.
  • Obituaries:
    • Colonel Waibhav Anil Kale, a retired Indian Army officer and a United Nations staff member, was killed in an attack in Rafah, Gaza. The attack occurred while he was travelling to the European Hospital in Rafah in a UN vehicle. Another UN staff member was injured in the incident.


Ques.1 What was the retail inflation in India for April 2024?

  • a) 4.73%
  • b) 4.83%
  • c) 5.83%
  • d) 6.83%

Answer: b) 4.83%


Ques.2 On which date is World AIDS Vaccine Day observed annually?

  • a) May 15
  • b) May 20
  • c) May 18
  • d) May 25

Answer: c) May 18

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