Current Affairs One - Liner : 8th May 2024

• National:
• The Department of Consumer Affairs has warned against ‘drip pricing’, a practice where only part of a product’s price is shown in advertisements, with the full price revealed only at final billing. This practice is now classified as an ‘unfair trade practice’ under the Consumer Protection Act, 2019. Consumers can seek assistance on this issue by reaching out to NCH 1915 or via WhatsApp at 8800001915.

• The ‘Kutch Ajrakh’, a traditional textile craft from Gujarat, has been awarded the Geographical Indication (GI) certificate. This recognition provides legal protection to the artisans’ traditional knowledge and techniques. It also helps in preserving India’s rich textile heritage, validates the craftsmanship of the artisans, and enables them to showcase their work on a global platform.
• International:
• The population growth rate of Nepal has been decreasing over the years. As of 2024, the population of Nepal is 31,240,315, with a growth rate of 1.11%. This is a decrease from the previous year’s growth rate of 1.14% in 2023. It’s worth noting that this is the lowest growth rate Nepal has seen in the last eight decades.
• Vladimir Putin was inaugurated for his fifth term as Russia’s president on May 7, 2024. The ceremony took place in the Grand Kremlin Palace. He pledged to strengthen Russia and uphold the constitution. His term will last until 2030.
• Ukraine’s Foreign Ministry has introduced an AI spokesperson named Victoria Shi. She is modelled on Rosalie Nombre, a singer and former contestant on Ukraine’s version of The Bachelor. The statements given by Shi are written and verified by real people, not generated by AI. This initiative aims to save time and resources for diplomats.
• The European Union (EU) adopted its first law against violence towards women on May 7, 2024. The law criminalizes female genital mutilation, forced marriage, and cyber violence. It also includes measures to prevent violence against women and protect victims.
• The Third Tashkent International Investment Forum held in May 2024 attracted $26.6 billion in global investments, a 141.8% increase from the previous year. Over 2,500 participants from 93 countries attended. The largest deal was a $4.85 billion agreement with ACWA Power for the construction of wind power plants.
• Thailand has extended the visa-free entry for tourists from India and Taiwan. The extension is effective from May 11, 2024 to November 11, 2024, allowing travelers from these countries to stay in Thailand for up to 30 days. This move aims to boost tourism in Thailand.
• Banking:
• On 6th May 2024, the Asian Development Bank (ADB) and Citi signed a Master Risk Participation Agreement (MRPA). This agreement aims to enhance supply chain financing for small and medium-sized enterprises (SMEs), supporting over $100 million in additional annual trade across Asia and the Pacific. This is part of ADB’s commitment to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific.
• Mirae Asset Mutual Fund has launched a new ETF, the Mirae Asset Nifty MidSmallcap400 Momentum Quality 100 ETF. The New Fund Offer (NFO) was open from 6th May, 2024 to 17th May, 2024 and it re-opened for continuous Sale and Repurchase from 23rd May, 2024. The fund’s objective is to generate returns that align with the performance of the Nifty Midsmallcap400 Momentum Quality 100 Total Return Index.
• Infibeam Avenues’ CCAvenue has partnered with Shivalik Small Finance Bank (SFB) to expand merchant access. This partnership will allow CCAvenue-registered merchants to tap into Shivalik SFB’s extensive customer base. Account holders of Shivalik SFB can now make payments seamlessly on websites powered by CCAvenue.
• Economy:
• India Ratings and Research (Ind-Ra) has revised its GDP growth estimate for FY25 for India to 7.1%, up from the earlier forecast of 6.5%. This revision is due to factors like sustained government capital expenditure, deleveraged corporate and bank balance sheets, and the beginning of a private corporate capex cycle.
• Mous:
• On May 3, 2024, Tata Steel Special Economic Zone Limited (TSSEZL) and HHP Five Private Limited (Hygenco) signed a Memorandum of Understanding (MoU) to establish a green hydrogen and green ammonia project at TSSEZL’s Gopalpur Industrial Park in Odisha’s Ganjam district. The project aims to produce 1 million tonnes per annum (1 MnTPA) of green hydrogen and green ammonia, with the initial phase scheduled for commissioning by December 2026.
• Important Days:
• World Cartoonist Day is celebrated annually on May 5 to honor the creativity and contributions of cartoonists worldwide. The first official cartoonist is often attributed to John Leech, whose work in 1843 marked the inception of modern political cartoons.
• World Thalassaemia Day is observed on May 8th every year to raise awareness about thalassaemia, a severe genetic blood disorder. The theme for 2024 is “Empowering Lives, Embracing Progress: Equitable and Accessible Thalassaemia Treatment for All”. It aims to promote advances in treatment options and emphasizes our collective responsibility to treat and prevent this disease.
• World Portuguese Language Day is celebrated annually on May 5. It was established by the Community of Portuguese-speaking Countries (CPLP) in 2009 to honor the Portuguese language and Lusophone cultures. The Portuguese language is spoken by over 265 million people worldwide.
• African World Heritage Day is celebrated annually on May 5. The 2024 theme is “Safeguarding Africa’s Heritage through Education”. This day aims to raise awareness of the importance of promoting and preserving African culture and heritage.
• Appointments:
• Sujai Raina has been appointed as the Country Manager for India by Visa, the global leader in digital payments. In his new role, Raina will be responsible for leading and executing Visa’s strategic initiatives for the Indian market. This appointment was announced on May 7, 2024.
• Subodh Kumar, an IAS officer, has been appointed as Director in the Ministry of Ayush. His appointment is effective from the date he assumes charge and is initially until October 8, 2024. Before this, Kumar was on ‘Compulsory wait’ in the Ministry of Food Processing Industries.
• Awards & Honours:
• The 2024 Pulitzers (for 2023 work) were awarded on May 7th. Winners included ProPublica (Public Service), Lookout Santa Cruz (Breaking News), and Hannah Dreier of NYT (Investigation).
• On May 8th, 2024, Oxford Bookstores held an event to honor excellence in book design and visual arts. Bhavi Mehta won the 9th Oxford Bookstore Book Cover Prize for her design of “The Book Beautiful”. The longlist for the second Oxford Bookstore Art Book Prize was also announced. These initiatives aim to promote artistic excellence.
• Obituaries:
• Renowned filmmaker Sangeeth Sivan passed away at the age of 61 on May 8, 2024. He was known for his work in Malayalam and Hindi cinema. His notable films include ‘Yoddha’, ‘Zor’, ‘Kyaa Kool Hai Hum’, ‘Apna Sapna Money Money’, and ‘Yamla Pagla Deewana 2’. The cause of his death has not been disclosed.

Questions:

Q.1 Who has introduced an AI spokesperson named Victoria Shi?
a. Russia’s Foreign Ministry
b. Ukraine’s Foreign Ministry
c. USA’s Foreign Ministry
d. China’s Foreign Ministry
Q.2 Who won the 9th Oxford Bookstore Book Cover Prize?
a. Bhavi Mehta
b. Oxford Bookstores
c. The Book Beautiful
d. Oxford Bookstore Art Book Prize