Current Affairs One - Liner : 3rd May 2024

• National:
• The Indian dairy company Amul is sponsoring the USA and South Africa cricket teams for the ICC T20 World Cup 2024. The USA, making their debut as co-hosts, will play their first match against Canada on June 1. South Africa will start their campaign against Sri Lanka on June 3.

• A study by the Kerala State Forest Protective Staff Organisation suggests that removing exotic plant species from forests can help ensure food for wild animals. Exotic species often outcompete native plants, disrupting natural ecosystems and altering food availability for wildlife. The study found that in areas overrun by exotic species, wild animals, including elephants, are unable to move freely.
• The Indian Institute of Technology-Patna (IIT-P) was granted a patent for a cost-effective inverter on April 30, 2024. The inverter is lightweight, and compact, and integrates the inverter and battery in one box. This product promotes clean energy generation and is ready for commercial use.
• On May 3, 2024, the Food Safety and Standards Authority of India (FSSAI) ordered comprehensive testing of spices from all brands across India. This was in response to the suspension of sales of certain spice blends from MDH and Everest by Singapore and Hong Kong due to high levels of ethylene oxide. The testing for all spices exported to Hong Kong and Singapore will start from May 6, 2024.
• Banking:
• The Reserve Bank of India (RBI) has successfully recovered 97.76% of the ₹2000 denomination banknotes from circulation since their withdrawal announcement on May 19, 2023. The remaining ₹2000 banknotes are still legal tender and can be deposited or exchanged at the 19 Issue Offices of RBI.
• Groww, a financial services platform, received an online payment aggregator license from the Reserve Bank of India (RBI) on April 29, 2024. This license allows Groww to facilitate e-commerce transactions through its UPI app, Groww Pay. The company has been expanding its financial services, including peer-to-peer payments, transactions with merchants, and bill payment services.
• According to the latest data from the Reserve Bank of India (RBI), credit card spending in India for the financial year 2023-24 (FY24) increased by 27% to Rs 18.26 trillion. This rise was particularly noticeable in March 2024, where expenditures surged by 10% to Rs 1.64 trillion, largely due to year-end financial activities and festive season sales.
• YES Bank and ANQ launched two co-branded credit cards, Pi and Phi, on April 30, 2024. The Pi card is a digital-only card offering seamless credit on UPI for domestic transactions, with no joining or annual fees. The Phi card is a physical card catering to both domestic and international purchases, offering rewards for dining, travel, and more
• The neobanking startup Fi secured a Non-Banking Financial Company (NBFC) licence from the Reserve Bank of India (RBI) on April 30, 2024. This license allows Fi to offer loans directly from its own books.
• Science & Technology:
• Scientists discovered 3.7 billion-year-old rocks in Greenland that contain the oldest evidence of Earth’s magnetic field. This pushes back the birth of the magnetic field by about 200 million years. The findings, published on April 24, 2024, could shed light on early conditions that helped life emerge on Earth. The rocks were collected at the Isua Supracrustal Belt in Greenland.
• Appointments:
• Pratima Singh, an IRS officer, was appointed as the Director of the Department of Promotion of Industry and Internal Trade (DPIIT) on May 1, 2024. Her appointment is for five years. This move is expected to contribute to the department’s objectives of fostering economic growth and development.
• Jeremiah Manele has been elected as the new Prime Minister of Solomon Islands. He was elected by the parliament on May 2, 2024, securing 31 votes. Manele, who served as foreign minister under former Prime Minister Manasseh Sogavare, played a key role in building the relationship with China.
• Obituaries:
• V. Srinivas Prasad, a veteran BJP leader and former Union Minister, passed away at the age of 77 due to age-related ailments. He was a six-time MP from Chamarajanagar and had retired from politics earlier this year.

Questions:

Q.1 Where were the 3.7 billion-year-old rocks discovered?
a. Antarctica
b. Greenland
c. Australia
d. Africa
Q.2 Who was appointed as the Director of the Department of Promotion of Industry and Internal Trade (DPIIT) on May 1, 2024?
a. Pratima Singh
b. Ramesh Kumar
c. Sunita Sharma
d. Anil Mehta