- National:
- The Gurugram administration has appointed Indian cricketer Yuzvendra Chahal and singers MD Desi Rockstar and Naveen Punia as brand ambassadors to boost voter turnout for the upcoming Lok Sabha elections. They will appeal to the voters, especially the youth, to participate in the polling process.
- India saw a 43% year-on-year increase in successful insolvency resolutions in FY24, with the number of successful resolutions under the Insolvency & Bankruptcy Code (IBC) rising to 270 cases. This led to a reduction in pending cases in the National Company Law Tribunal (NCLT).
- The Ministry of Home Affairs has approved the renaming of eight railway stations in Amethi, Uttar Pradesh. The changes include Kasimpur Halt to Jais City, Jais to Guru Gorakhnath Dham, and others. This move aims to promote religious tourism in Amethi.
- International:
- José Raúl Mulino, the former security minister, was elected as the President of the Republic of Panama on May 5, 2024. He won the election with 34.3% of the vote. Mulino replaced former president Ricardo Martinelli as a candidate in February.
- The FLiRT (KP.2) variant, a new group of COVID-19 variants from the Omicron JN.1 lineage, is rapidly spreading in the United States, causing concern about a potential summer infection wave. As of late April 2024, it accounted for about 25% of the cases in the U.S. The symptoms are similar to those of JN.1 and include fever, cough, sore throat, and more.
- On May 3, 2024, Nepal announced the issuance of a new Rs 100 currency note that includes a map depicting the territories of Lipulekh, Limpiyadhura, and Kalapani. These territories are disputed between India and Nepal. India has termed this as an “artificial enlargement” and “untenable”. The decision has strained the diplomatic relationship between the two countries.
- Banking:
- The Reserve Bank of India (RBI) announced on May 3, 2024, that Standalone Primary Dealers (SPDs) can now borrow in foreign currency. This move is aimed at expanding the funding sources for SPDs and is expected to aid in managing their foreign exchange business. SPDs can borrow from their parent companies and other RBI-authorized entities, and can access overdraft facilities in nostro accounts for operational use. They must adhere to prescribed limits for foreign currency.
- The Carlyle Group, through its affiliate CA Basque Investments, has sold nearly a 2% stake in Yes Bank for Rs 1,441 crore via an open market transaction. The shares were sold at an average price of Rs 24.27 per share, making the deal worth Rs 1,441.63 crore. This sale has reduced Carlyle Group’s shareholding in Yes Bank from 9.11% to 7.13%.
- Data from the Reserve Bank of India (RBI) on "Sectoral Deployment of Bank Credit" reveals a positive trend in the housing sector. Over the past two financial years, credit outstanding to the housing sector has witnessed a substantial increase of ₹10 lakh crore. This surge can likely be attributed to the post-pandemic resurgence of the residential property market.
- Indian Bank reported a 55% increase in net profit for the quarter ended March 2024, amounting to Rs 2,247 crore. This was announced on May 6, 2024. The growth was backed by an increase in Net Interest Income (NII) and fee-based income, with total operating income rising by 19.41%.
- Economy:
- The HSBC India Services Purchasing Managers’ Index (PMI) fell slightly to 60.8 in April 2024, down from 61.2 in March. Despite this drop, the index remains above 50, indicating that the services sector in India continues to expand. This marks the 33rd consecutive month of expansion.
- Science & Technology:
- A new marine tardigrade species, Batillipes chandrayaani, was discovered by researchers at the Cochin University of Science and Technology (CUSAT) on May 2, 2024. The species was found on the southeast coast of Tamil Nadu and named in honor of India’s Chandrayaan-3 moon mission.
- ISRO is developing a semi-cryogenic engine to enhance the payload capability of its launch vehicles. The engine works on a Liquid Oxygen (LOX) Kerosene propellant combination. A successful inaugural ignition trial of the engine took place at the semi-cryo integrated engine test (SIET) facility in Mahendragiri on May 2, 2024.
- Sports:
- Real Madrid clinched their 36th La Liga title on Saturday, May 4, 2024. This victory was secured after their rival, FC Barcelona, lost to Girona. Real Madrid beat Cadiz 3-0, which gave them an unassailable 14-point lead with four games to go. They celebrated their victory at Cibeles Square in Madrid on Sunday, May 12, 2024.
- In the Madrid Open 2024, Iga Swiatek indeed won the women’s singles title on May 4 at La Caja Mágica in Madrid, Spain. She defeated Aryna Sabalenka in the final match with a score of 7-5, 4-6, 7-6. This victory marked her first WTA 1000 title win in the Spanish capital. On the men’s side, Andrey Rublev also claimed his first Madrid Open title. Despite struggling with illness throughout the tournament, Rublev managed to beat Carlos Alcaraz, Taylor Fritz, and Felix Auger-Aliassime in the final three rounds.
- Defence:
- The Indian Air Force (IAF) received its second C-295 transport aircraft from Airbus Defence and Space on May 4, 2024. This is part of a larger contract for 56 C-295 aircraft, signed in September 2021. The first aircraft was delivered in September 2023. The C-295 is a modern transport aircraft that will replace the ageing Avro aircraft in the IAF’s fleet.
- Important Days:
- The International Day of the Midwife is celebrated annually on May 5. The theme for 2024 is “Midwives: A Vital Climate Solution”. This theme highlights the role of midwives in adapting health systems to climate change, reducing carbon emissions, and delivering environmentally sustainable health services.
- World Hand Hygiene Day is observed annually on May 5. The theme for World Hand Hygiene Day in 2024 is: "Promoting knowledge and capacity building of health and care workers through innovative and impactful training and education, on infection prevention and control, including hand hygiene". The day aims to maintain a global profile on the importance of hand hygiene in health care.
- World Asthma Day is observed on the first Tuesday of May every year. In 2024, it was on May 7th. The day is organized by the Global Initiative for Asthma (GINA) to improve asthma awareness and care. The theme for 2024 was “Asthma Education Empowers”, aiming to empower people with asthma to manage their disease.
- Appointments & Resignations:
- Rakesh Singh, who was previously the CEO of broking services at Fisdom, has been appointed as the new CEO of Paytm Money. He replaces Varun Sridhar, who has been moved to a different role within the group.
- Bhavesh Gupta, the President and COO of One 97 Communications (Paytm’s parent company), announced his resignation effective May 31, citing personal reasons. This led to a 5% drop in the company’s shares. Despite his departure, Gupta will continue to support Paytm in an advisory role.
Questions:
Q.1 Where was the new species Batillipes chandrayaani found?a. Northeast coast of Tamil Nadu
b. Northwest coast of Tamil Nadu
c. Southeast coast of Tamil Nadu
d. Southwest coast of Tamil Nadu
Q.2 Who organizes World Asthma Day?
a. World Health Organization
b. Global Initiative for Asthma (GINA)
c. United Nations
d. American Lung Associatio
