ROY’S INSTITUTE OF COMPETITIVE EXAMINATION

Current Affairs
(26th APRIL 2024 to 20th MAY 2024)

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BOOKS AND AUTHORS :

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Name of the Book Author
Night Watch Jayne Anne Phillips
Adventures Of A Travelling Monk: A Memoir Swami Indradyumna.

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Kairos Jenny Erpenback

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India’s Nuclear Titans Soumya Awasthi and Shrabana Barua
INTERNATIONAL AFFAIRS :
 The Iranian Islamic Revolutionary Guard Corps (IRGC) has introduced a new kamikaze drone resembling Russia’s
Lancet drone. This drone, yet to be named publicly, is designed for targeted attacks, akin to those witnessed in the
Ukraine conflict.
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 Iraq’s parliament recently passed a stringent law criminalizing same-sex relationships, imposing a maximum 15-year
prison sentence. The legislation, titled the Law on Combating Prostitution and Homosexuality, reflects a concerning
trend of increased scrutiny and persecution of LGBT individuals in Iraq.
 Humza Yousaf, Scotland’s first Muslim First Minister and leader of the Scottish National Party (SNP), has announced
his resignation amid political turmoil.
 Sri Lanka, amidst a financial crisis stemming from a severe shortage of dollars, has taken a significant step by partially
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lifting import restrictions. This move aims to rejuvenate the economy, which has been struggling since March 2020.
 Dubai is embarking on an ambitious endeavor to construct the world’s largest airport, Al Maktoum International Airport,
boasting an unprecedented capacity to accommodate 260 million passengers annually, with 400 terminal gates and five
parallel runways. Spearheaded by Sheikh Mohammed bin Rashid Al Maktoum, the project signifies Dubai’s commitment
to innovation and global connectivity.
 Paleontologists from Argentina have revealed the unearthing of a novel medium-sized herbivorous dinosaur, Chakisaurus
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nekul, which thrived approximately 90 million years ago during the Late Cretaceous period in present-day Patagonia.
 Zimbabwe has launched a new currency called the ZiG (short for Zimbabwe Gold) in an attempt to address the country’s
long-running currency crisis. The ZiG, backed by Zimbabwe’s gold reserves, was introduced electronically in early
April and has now been released in banknote and coin form.
 China is set to launch the Chang’e-6 lunar probe on a round trip to the Moon, marking a significant advancement in their
space exploration. The mission aims to gather soil and rock samples from the far side of the Moon, providing crucial
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insights into its early evolution and the inner solar system.
 American Express is set to inaugurate its expansive new campus in Gurugram, spanning nearly one million square feet,
showcasing the company’s commitment to fostering a vibrant work environment.
 In a groundbreaking endeavor, China has launched the Chang’e-6 probe on an ambitious mission to collect samples from
the far side of the Moon. If successful, China will etch its name in history as the first country to retrieve lunar samples
from the enigmatic far side, a feat yet unaccomplished by any other nation.
 In a groundbreaking move that combines cutting-edge technology with diplomacy, Ukraine has unveiled an AI-generated
spokesperson, named Victoria Shi, to deliver official statements from its foreign ministry. This significant technological
leap in diplomatic communication has captured global attention.

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 Nepal’s population growth rate has hit a historic low, standing at 0.92% per annum over the past decade, the slowest in
the last eighty years, as reported by the National Statistics Office (NSO). The current population stands at approximately
29.2 million, with a growth of 2.7 million from mid-April 2011 to mid-April 2021.
 The Sri Lankan government has approved an agreement with Adani Green Energy, led by Gautam Adani, for the
development of wind power stations in Mannar and Poonerin. The agreement was given the green light by the Sri Lankan
cabinet on May 7. Under the power purchase agreement, which has a duration of 20 years, Adani Green Energy will be
paid 8.26 cents per kilowatt-hour (kWh) for the electricity generated from the wind power stations.

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 In a widely anticipated move, Russian President Vladimir Putin has reappointed Mikhail Mishustin as the Prime Minister
of Russia, subject to approval by the lower house of parliament, the State Duma.
 According to data from the Global Trade Research Initiative (GTRI), an economic think tank, China has emerged as

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India’s largest trading partner in the fiscal year 2023-24, surpassing the United States. The two-way commerce between
India and China stood at a staggering $118.4 billion, slightly edging out the $118.3 billion traded with the US.
 The European Union has passed its first-ever legislation aimed at combating violence against women. The law mandates
all EU member states to criminalize practices such as female genital mutilation, forced marriage, and online harassment.

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Despite unanimous agreement on the necessity of the legislation, disagreements arose regarding a common definition

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of rape. Despite this, the law marks a significant step forward in protecting women’s rights across the EU.
 Russia has claimed to have discovered massive oil and gas reserves in the British Antarctic Territory, a region currently
protected under the 1959 Antarctic Treaty. According to evidence submitted to the Commons Environment Audit
Committee, the reserves uncovered by Russian research ships contain around 511 billion barrels worth of oil, a staggering
amount equivalent to approximately 10 times the North Sea’s output over the last 50 years.
 Hundreds of residents near Mount Ibu, an active volcano on Halmahera island in eastern Indonesia, have been evacuated
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following a significant increase in volcanic activity. Authorities raised the alert status to the highest level after two
consecutive days of massive eruptions, prompting precautionary measures to ensure the safety of local communities.
 Spain, Norway and Ireland, the three European nations have formally recognized Palestine as a State.
NATIONAL AFFAIRS :
 A report by the Global Trade Research Initiative (GTRI) highlights India’s escalating dependence on Chinese imports,
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with the import bill surging to over $101 billion in 2023-24 from around $70 billion in 2018-19. Over the past fifteen
years, China’s share of India’s industrial goods imports has risen significantly, reaching 30%, while imports from China
have outpaced India’s total imports by 2.3 times.
 The government of Tamil Nadu has launched a three-day survey of the Nilgiri Tahr, the state’s iconic animal. This
initiative aims to better understand and conserve this endangered species that faces numerous challenges, including
habitat loss and poaching.
 Maharashtra Day, also known as Maharashtra Divas, is celebrated every year on May 1st to commemorate the formation
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of the state in 1960.

 The Uttarakhand government has suspended the manufacturing licenses of 14 products from Patanjali Ayurved, founded
by Baba Ramdev, citing misleading advertisements about their efficacy. This move comes amid ongoing scrutiny and
legal proceedings against Ramdev for non-compliance with directives to cease misleading advertising.
 The Union Ministry of Home Affairs has granted approval to the Uttar Pradesh Government’s proposal to rename eight
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railway stations in Amethi district. Spearheaded by BJP Amethi MP Smriti Irani, this decision aims to preserve the
cultural identity and heritage of the region by honoring local temples, saints, idols, and freedom fighters through the
new station names.
 India emerged as the global leader in remittances in 2022, receiving over $111 billion, surpassing the $100 billion mark
for the first time. The International Organisation for Migration (IOM) highlighted India, alongside Mexico, China, the
Philippines, and France, as the top five remittance recipient countries.
 India’s toy exports experienced a slight decline to USD 152.34 million in the fiscal year 2023-24, with limited benefits
from quality control measures. Despite efforts to bolster the domestic industry and ensure product safety, exports did
not see significant improvement.
 India’s remarkable surge in solar energy deployment propelled it past Japan, securing its position as the world’s third-
largest solar power generator in 2023. Solar energy continued its unprecedented growth streak, outpacing coal in global
electricity generation for the 19th consecutive year.
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 In response to a public interest litigation (PIL) on child marriage, the Rajasthan High Court has issued a directive aimed
at curbing the practice in the state. With the approaching Akshay Tritiya festival, notorious for child marriages, the court
has emphasized the responsibility of sarpanchs and panchayat members in preventing such unions.
 As the Lok Sabha elections in Gurugram, scheduled for May 25, draw near, the district administration has taken a unique
approach to encourage voter participation. In a bid to attract the attention of the electorate, particularly the youth, the
authorities have roped in India cricketer Yuzvendra Chahal, as well as popular singers MD Desi Rockstar and Naveen
Punia, as brand ambassadors.
 Amidst the aftermath of ethnic strife and severe hailstorms, Manipur’s government introduces the “School on Wheels”

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program, aiming to provide education to students sheltered in relief camps across the state. The initiative, inaugurated
by Governor Anusuiya Uikey, entails a mobile educational setup equipped with a library, computers, and sports items,
accompanied by a teacher, to visit various camps.

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 Kerala’s health authorities have reported West Nile fever cases in three districts: Kozhikode, Malappuram, and Thrissur.
In response, the state government has directed all districts to be vigilant and implement mosquito control measures,
including pre-monsoon cleaning drives and surveillance activities. (

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 The Indian Air Force (IAF) has been actively assisting the state in combating the forest fires. In response to the raging
fires in the Pauri Garhwal sector, the IAF provided much-needed relief by undertaking Bambi Bucket operations using

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its Mi17 V5 helicopters.
 The Uttarakhand government has launched the ‘Pirul Lao-Paise Pao’ campaign to contain the raging forest fires in the
state. Chief Minister Pushkar Singh Dhami launched the campaign in the Rudraprayag district on May 8, 2024. He urged
the people to actively participate in the campaign and stated that cooperatives, Yuva Mangal Dal, and Van Panchayat
would also take part.
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 Bajaj Auto, led by Managing Director Rajiv Bajaj, is all set to introduce a groundbreaking innovation in the world of
motorcycles. Amidst soaring petrol prices, the company is gearing up to launch the world’s first CNG-powered motorcycle
on June 18, 2024.
 The National Archives of India (NAI) has acquired a priceless collection of private papers and original correspondences
belonging to the late Shri Rafi Ahmad Kidwai, a prominent figure in India’s freedom struggle and nation-building efforts.
This acquisition ensures the preservation of a significant part of our nation’s history and the legacy of a remarkable
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leader.
 In a proud moment for India, three of its literary treasures – the Ramcharitmanas, Panchatantra, and Sahṛdayāloka-Locana
– have been inscribed on UNESCO’s Memory of the World Asia-Pacific Regional Register. This prestigious recognition
celebrates India’s rich literary heritage and cultural legacy, affirming the timeless wisdom and artistic expressions that
have shaped the nation’s identity.
 The inclusion of these masterpieces in the Register signifies a crucial step in global cultural preservation efforts. It ensures
that the profound teachings and narratives embodied within these works continue to inspire and enlighten generations
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to come, transcending boundaries of time and place.

 Inauguration of the Bharat Pavilion, formerly known as the India Pavilion, marked a significant moment at the 77th Cannes
Film Festival. The renaming reflects India’s commitment to traditional storytelling while seeking global collaborations.
 Meghalaya has made history by appointing Idashisha Nongrang as the state’s first woman Director General of Police
(DGP).
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 In a remarkable achievement, P Shyaamnikhil from Tamil Nadu has etched his name in the annals of Indian chess history
by becoming the country’s 85th Grandmaster (GM). The 31-year-old chess prodigy, who embarked on his journey at the
tender age of eight, finally secured the coveted third and final GM norm at the prestigious 2024 Dubai Police Masters
Chess Tournament.
 Renowned Nepali mountaineer Kami Rita Sherpa has achieved a historic feat by conquering Mount Everest for the
29th time. At 54 years old, Kami reached the 8,849-meter summit at 7:25 am local time on Sunday, leading a group of
climbers organized by Seven Summit Treks.
 Kutch Ajrakh (hand block painting) of Ajrakhpur, a village in Kutch, Gujarat, has got GI Tag recently.

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APPOINTMENTS :
National
Name Designation
Narsingh Pancham Yadav Chairman of the Athletes Commission of the Wrestling
Federation of India
Yuvraj Singh, Chris Gayle, Usain Bolt Ambassadors for the ICC Men’s T20 World Cup 2024.

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Ishaq Dar Pakistan’s Deputy Prime Minister
R. Lakshmi Kanth Rao Executive Director of RBI

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Sunil Kumar Yadav Director of the The Ministry of Housing & Urban Affairs
(MoHUA)
Kareena Kapoor Khan National Ambassador for UNICEF India

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Sujai Raina Country Manager of Visa for India
Subodh Kumar Director in the Ministry of Ayush

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Dileep Sanghani Chairman Of IFFCO(The Indian Farmers Fertiliser Cooperative)
Salima Tete Captain of the Indian women's hockey team for the FIH Hockey
Pro League 2023-24.
Idashisha Nongrang Meghalaya’s first woman Director General of Police (DGP).
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A Y V Krishna and N Venu Gopal Additional directors in the Central Bureau of Investigation (CBI)
Pradeep Natarajan Whole Time Director on the Board of IDFC FIRST Bank
R Lakshmi Kanth Rao Executive director (ED) of RBI
Sarvadanand Barnwal (ISS) Director in the Department of Land Resources.
Sanjiv Puri President of the Confederation of Indian Industry (CII) for the
2024-25 term
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International
Name of the Person Designation
Lai Ching-Te President of Taiwan
Andrei Belousov New defence minister of Russia
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Lawrence Wong Fourth Prime Minister of Singapore.

Idriss Deby President of Chad.
José Raúl Mulino President of Panama
Jeremiah Manele Prime Minister of Solomon Islands.
Prabowo Subianto President of Indonesia
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OBITUARIES NEWS :
 Noted storyteller and Padma Shri awardee Malti Joshi passed away at the age of 90 years. Malti Joshi was known for
her work in Hindi and Marathi language. She was awarded Padam Shri in 2018.
 Noted Punjabi poet Surjit Patar passed away at the age of 79 in Punjab’s Ludhiana. Patar’s notable achievements include
receiving top honours like Padma Shri and the Sahitya Akademi Award for his work of writing in a regional language.
 The renowned Urdu litterateur and academician, Shaikh Abdussalam Abdurrazzaq passed away at the age of 83. He
was popularly known by his pseudonym Salam Bin Razzaq. He won the prestigious Sahitya Akademi Award for Urdu
literature for his acclaimed short stories collection, ‘Shikasta Buton Ke Darmiyan’, in 2004.
 Rajasthan’s first woman minister, Kamla Beniwal, passed away on 15 May 2024 in Jaipur, Rajasthan. She was 97 years
old. Kamal Beniwal also held the constitutional post of State Governor. She was Governor of Tripura, Gujarat and
Mizoram.
 Canadian author Alice Munro, a 2013 Nobel Prize winner for literature, has died at the age of 92.
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AWARDS & HONOURS :

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 Eminent author Ruskin Bond has been bestowed with the Sahitya Akademi Fellowship, the highest honour conferred
by India’s premier literary organization, the Sahitya Akademi.
 Chandrakant Satija, the renowned educationist and Founder/CEO of Chandra Admission Consultants, was honored with
the Global Excellence Award 2024.

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 Noted Hindi film superstars Hema Malini and Saira Banu, along with eight other prominent personalities from the fields
of art and culture, will be honoured with the prestigious Pandit Lacchu Maharaj Award. The award ceremony will take
place on 31 August 2024 in Lucknow, Uttar Pradesh.

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 Randeep Hooda was bestowed with the Lata Deenanath Mangeshkar Award. This honor recognizes his remarkable
contributions to Indian cinema and his recent film “Swatantrya Veer Savarkar”
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 Dr. Soumya Swaminathan, a globally renowned leader in public health and infectious diseases, has been named among
the 10 exceptional individuals to receive an honorary degree by McGill University of Canada.

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 Oxford Bookstores announced Bhavi Mehta as the winner of the 9th edition of the Oxford Bookstore Book Cover Prize.
Mehta’s winning entry was the book jacket for “The Book Beautiful” published by Hachette India and authored by
Pradeep Sebastian.
 Palestinian journalists covering the Gaza crisis receive the 2024 UNESCO/Guillermo Cano World Press Freedom Prize
as a show of solidarity and recognition for their dedication.
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 Dr. Purnima Devi Barman, a wildlife biologist from Assam, has been recognized with the prestigious ‘Green Oscar’
Whitley Gold Award 2024 for her exemplary conservation efforts aimed at protecting the endangered Greater Adjutant
Stork and its wetland habitat.
 The prestigious Pulitzer Prizes for 2024 was announced on May 7, 2024, by Columbia University in the United States of
America. The awards, considered the most prestigious in the fields of journalism and arts, were conferred by Columbia
University on the recommendation of the Pulitzer Prize Board.
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Journalism Category
Category Winner
Public Service Pro Publica (Joshua Kaplan, Justin Elliott, Brett Murphy, Alex Mierjeski, and Kirsten
Berg)
Investigative Reporting Hannah Dreier (The New York Times)
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International Reporting Staff of The New York Times

Editorial Writing
Breaking News Photography
Feature Photography
Audio Reporting
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David E. Hoffman (The Washington Post)
Photography Staff of Reuters
Photography Staff of Associated Press
Staff of the Invisible Institute and USG Audio

Book, Drama, and Music Category

Category Winner
Fiction Night Watch by Jayne Anne Phillips
Drama Primary Trust by Eboni Booth
History No Right to an Honest Living: The Struggles of Boston’s Black Workers in the Civil War
Era by Jacqueline Jones
Biography King: A Life by Jonathan Eig Master Slave Husband Wife: An Epic Journey from
Slavery to Freedom by Ilyon Woo
Memoir and Autobiography Liliana’s Invincible Summer: A Sister’s Search for Justice by Cristina Rivera Garza
Poetry Tripas: Poems by Brandon Som
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Category Winner
Music Adagio (For Wadada Leo Smith) by Tyshawn Sorey
General Nonfiction A Day in the Life of Abed Salama: Anatomy of a Jerusalem Tragedy by Nathan Thrall
 Alok Shukla, a renowned environmental activist and convenor of Chhattisgarh Bachao Andolan, has been selected for
the prestigious 2024 Goldman Environmental Prize. Also known as the “Green Nobel Prize,” this annual award honours
grassroots environmental champions worldwide for their outstanding contributions to environmental protection.

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 Sharjah teacher Gina Justus has been named the regional winner for the Middle East and North Africa (MENA) region
at the prestigious 2024 Cambridge Dedicated Teacher Awards.

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 Sana, the AI-powered news anchor developed by the India Today Group, has achieved remarkable success at the
prestigious International News Media Association (INMA) Global Media Awards held in London. This groundbreaking
AI innovation has captured two coveted awards. Sana won the first prize in the ‘Best Use of AI in Customer-Facing
Products’ category, acknowledging its role in transforming newsroom dynamics by seamlessly combining human expertise

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with AI innovation and the second was Sana’s success is a testament to the transformative power of AI in shaping the
future of journalism.

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SPORTS NEWS :
 The 2027 FIFA Women’s World Cup to be held in Brazil. The decision was announced at the 74th FIFA Congress in
Bangkok, Thailand.
 The leader of the Indian national football team, Sunil Chhetri, is retiring from international football after the FIFA World
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Cup qualifying match against Kuwait on June 6 2024.
 D Gukesh the 17-year-old Indian Grandmaster from Chennai, has made history by winning the 2024 FIDE Candidates
Chess Tournament in Toronto, Canada. He has become the youngest challenger ever for the World Chess Championship,
surpassing the record set by Garry Kasparov in 1984.
 The Scotland cricket team has unveiled its new ICC T20 World Cup jersey adorned with the Karnataka Milk Federation’s
(KMF) Nandini logo.
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 Amul Becomes ‘Official Sponsor’ of Sri Lanka Men’s Cricket Team for T20 World Cup 2024.
 Amul has been named the lead arm sponsor for the USA and South Africa cricket teams for T20 World Cup 2024.
 P. Shyaamnikhil from Tamil Nadu became the India’s 85th Grandmaster. The 31-year-old chess prodigy, who embarked
on his journey at the tender age of eight, finally secured the coveted third and final GM norm at the prestigious 2024
Dubai Police Masters Chess Tournament.
 United Nations General Assembly has unanimously proclaimed May 25 as the World Football Day, marking a significant
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milestone in the global celebration of the world's most popular sport.

 Spanish driver Jorge Martin of Pramac Ducati won 2024 French MotoGP.
 World No. 1 Magnus Carlsen won the 2024 Superbet Poland Rapid & Blitz.
 Japan men’s hockey team defeated Pakistan in the final to win its maiden Sultan Azlan Shah Trophy title 2024 held at
Azlan Shah Stadium in Ipoh, Malaysia.
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 Neeraj Chopra, the reigning Olympic and world champion in javelin throw secured second-place at the Doha Diamond
League 2024. Neeraj Chopra’s impressive throw of 88.36m on his final attempt fell just 2cm short of Czech Republic's
Jakub Vadlejch, the reigning Diamond League champion and Tokyo 2020 silver medalist.
 The United World Wrestling (UWW) has provisionally suspended Indian wrestler Bajrang Punia until December 31,
2024, following his suspension by the National Anti-Doping Agency (NADA) for his ‘refusal’ to provide a urine sample.
 Yuzvendra Chahal creates history to become first Indian bowler to take 350 T20 wickets. Yuzvendra Chahal also became
the first bowler in IPL history to take 200 wickets. The Rajasthan Royals leg spinner achieved the milestone when he
dismissed Mohammad Nabi of Mumbai Indians.
 The Spanish football giants, Real Madrid clinches 36th La Liga title.

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 Republic of China has reclaimed its throne as the top badminton nation, clinching both the men’s and women’s titles at
the prestigious 2024 BWF Thomas & Uber Cup Finals in Chengdu. China defeated Indonesia in both occasion to lift
Thomas Cup and Uber Cup 2024.
 Japan men’s under-23 football team won the AFC U-23 Asian Cup for the second time by defeating Uzbekistan in a
final at the Jassim bin Hamad Stadium in Doha, Qatar. The solitary goal scored by substitute Yamada in injury time
secured Japan’s victory and qualification for the 2024 Paris Olympics.
 The Badminton World Federation (BWF) has announced that India will host the prestigious 2025 BWF World Junior

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Championships at the National Centre of Excellence in Guwahati.
 The International Cricket Council (ICC) has taken strong action against West Indies player Devon Thomas by imposing
a five-year period of ineligibility from all cricket after he admitted to breaching multiple anti-corruption codes.

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 The International Cricket Council (ICC) has announced the appointment of Pakistan cricket legend Sana Mir as the
ambassador for the upcoming ICC Women's T20 World Cup Qualifier.
THEME OF IMPORTANT DAYS :

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Day/Week Theme

World Veterinary Day (27th April)
World Press Freedom Day(3rd May)
World Asthma Day(7th May)
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World Red Cross and Red Crescent Day(8th May) Keeping Humanity Alive
World Thalassaemia Day(8th May)
World Immunization Week(April 24 to 30)
International Nurses Day(12th May)
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Veterinarians are Essential Health Workers
A Press for the Planet: Journalism in the face of
the Environmental Crisis
Asthma Education Empowers
Empowering Lives, Embracing Progress:
Equitable and Accessible Thalassaemia
Treatment for All
Humanly Possible: Immunization for All
Our Nurses. Our Future. The economic power

of care
World Telecommunication & Information Society Digital Innovation for Sustainable Development
Day(17th May)
World Hypertension Day(17th May) Measure Your Blood Pressure Accurately,
Control It, Live Longer
World Metrology Day(20th May) Sustainability
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SUMMITS, CONFERENCES AND FESTIVALS :

 Mayako Pahichan Nepal a non-governmental organization in collaboration with the Nepal Tourism Board, has organized
first International Rainbow Tourism Conference.
 Ocean Decade Conference 2024 held in Barcelona, Spain. The conference, organized by the Spanish government and
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UNESCO’s Inter-governmental Oceanographic Commission.

 Bhutan has organized the Sustainable Finance for Tiger Landscapes Conference with a goal of mobilizing $1 billion
over a decade.
 Ministry of Earth Sciences (MoES), Government of India, in collaboration with the National Centre for Polar and Ocean
Research (NCPOR), hosted the 46th Antarctic Treaty Consultative Meeting (ATCM 46) and the 26th Meeting of the
Committee for Environmental Protection (CEP 26) from 20th May to 30th May, 2024, in Kochi,Kerala.
 26th ASEAN-India Senior Officials’ Meeting or Conference took place in New Delhi, co-chaired by Secretary (East)
Jaideep Mazumdar from India and Permanent Secretary Albert Chua of Singapore.
 Google Arts & Culture, in collaboration with India’s Ministry of Agriculture & Farmers Welfare has organized an
engaging digital exhibition titled “Millets: Seeds of Change” at Krishi Bhawan in New Delhi.
 ‘India Skills 2024’ took place at Yashobhoomi, Dwarka, New Delhi.
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 Between May 2 and 4, Chile and UNESCO have hosted the 31st World Press Freedom Day Conference at Centro
Cultural Gabriela Mistral, Chile.
 India and the UAE have concluded a significant meeting focused on the India-Middle East-Europe Economic Corridor
(IMEEC).
 A Indo-Bangla Baul music festival organized in Dhaka to celebrate the 250th birth anniversary of the mystic saint and
humanist bard Fakir Lalan Shah.
COMMITTEE/COMMISSIONS

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 Former Commonwealth Games gold-medallist Narsingh Pancham Yadav has been elected as chairman of the Wrestling
Federation of India's Athletes Commission.

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SCIENCE AND TECHNOLOGY :
 Apple has released iOS 17.5.1, an emergency update to fix a bug that caused deleted photos to reappear on iPhones.
This issue was due to database corruption, which made deleted photos visible again in the Photos library.

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 Generative AI can enhance productivity but may also lead to replacement of human employees. Teaching, learning, and
academic research will experience some of the most transformative impacts. Biases, out of date training data, and lack

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of transparency and credibility are major concerns. The effects of generative AI on knowledge acquisition and digital
transformation need research. It is critical to identify and implement policies to protect against misuse and abuse of
generative AI.
 Voice phishing scams
• Voice phishing, or vishing, is a deceptive practice where scammers use phone calls to trick individuals into revealing
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sensitive information.
• Scammers often use caller ID spoofing to make their calls appear legitimate, mimicking trusted entities like banks or
government bodies.
• They utilize VoIP technology to make mass calls cheaply, increasing their reach and potential impact.
 Nanopatterning:
Nanopatterning has come a long way thanks to scientists from the Indian Institute of Technology Guwahati (IIT Guwahati)
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and Columbia University in the United States. An Assistant Professor in the Department of Physics at IIT Guwahati
named Dr. Rishi Maiti was very important to this study. Their results are written up in the prestigious magazine Science
Advances.
What is Nanopatterning?
Nanopatterning is a complex method for making designs on materials that are very small, measured in nanometers. One
nanometer is equal to one billionth of a meter. Nanoscale gadgets like advanced light detectors, solar cells, and LEDs
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can’t be made without this process.

 At Google I/O 2024, the industry learned about new and advanced developments in artificial intelligence, especially
in how people and computers can talk to each other. Google and OpenAI, known for ChatGPT, have released new AI
assistants called Project Astra and GPT-4o. These new assistants claim to be more flexible and useful.
 What is Project Astra?
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The goal of Google’s Project Astra is to change the way people connect with AI by adding multimodal language support
to smart glasses and smartphones. With this change, users can now interact with their AI through talk, text, and images
(photos and videos). Using the real-time data capture features of device cameras, the AI will be able to access information
on the internet and learn from its surroundings, basically functioning as a personal assistant. The technology is meant
to be as smart and useful as the AI helper in the hit movie Avengers: Infinity War.
 The IIIT Bangalore recently unveiled “XoRehab,” a new IoT-enabled wheelchair device that was made possible by the
Centre for the Internet of Ethical Things and with help from several government and foreign groups. Specifically made
to help stroke patients recover after surgery, this tool aims to solve the practical problems that patients often have getting
regular exercise.
 Gemini Nano Enhancing Call Security
Gemini Nano is the core of this new feature. It is a small version of Google’s advanced language model that was made
just for Android devices. Gemini Nano works offline and listens to call conversations in real-time, looking for trends
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and words that are often used in scam conversations. When it finds possible scams, it warns users right away, giving
them time to end dangerous calls.
 OpenAI, a major player in the field of artificial intelligence study, recently announced big improvements to their AI
models, including the release of the GPT-4o model. During a livestream event, Mira Murati, Chief Technology Officer
of OpenAI, stated that this new model would be available for free because it is more efficient than the ones that came
before it. People in the tech world are paying close attention to changes in AI technologies right now, especially since
AI skills and uses are growing so quickly.

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 The Indian Space Research Organisation (ISRO) has achieved a remarkable feat by successfully conducting a hot test
of a 3D-printed liquid rocket engine on May 10, 2024. This test represents a crucial step forward in integrating Additive
Manufacturing (AM) technologies into India’s space exploration program.

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APPS, PORTALS, SCHEMES :
 Uttarakhand government has started the ‘Pirul Lao-Paise Pao’ campaign to contain the raging forest fires in the state.
Chief Minister Pushkar Singh Dhami launched this campaign in the Rudraprayag district of the state.

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AGREEMENT/MEMORANDUM OF UNDERSTANDING (MOU)

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 India and Iran have signed a significant 10-year bilateral contract( a formal agreement signed in 2016) aimed at enhancing
the operations of the Chabahar Port for bolstering trade links with Central Asia and parts of Europe.
 The Indian Coast Guard (ICG) and Hindalco Industries, a leading industry group, have joined to promote the
manufacturing and supply of indigenous marine-grade aluminium for the construction of ships.
 SatCom Industry Association of India (SIA-India) and ABRASAT, the Brazilian Satellite Communications Association,
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have jointly developed the propel advancements in the space sector.
IMPORTANT INDEXES AND REPORTS
 World Press Freedom Index 2024 published annually by Reporters Without Borders (RSF), India’s rank is 159th out
of 180 countries. This marks a slight improvement from its previous rank of 161. Norway topped the ranking, while
Denmark was on the second rank in this Index report. Sweden ranked third on the list while Eritrea ranks 180th .
 Institute for Energy Economics and Financial Analysis (IEEFA) and Ember evaluates the progress of India’s clean
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electricity transition at the state level.Karnataka and Gujarat maintain strong performances.
 Mumbai (24th Rank)and Delhi(37th) have debuted in the top 50 wealthiest cities worldwide according to the Wealthiest
Cities Report 2024 by Henley & Partners and New World Wealth.
GI Tags
 Gujarat’s rich cultural heritage, the traditional artisans of ‘Kutch Ajrakh Print ’ has been conferred with the prestigious
Geographical Indication (GI) Tag by the Controller General of Patents, Designs, and Trademarks (CGPDTM).
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DEFENCE NEWS AND EXERCISES

 The Indian Army is poised to elevate its air defense capabilities with the impending delivery of the Russian Igla-S Very
Short Range Air Defense (VSHORAD) systems. This acquisition, featuring a technology transfer agreement between
Adani Defence Systems and Technologies Limited (ADSTL) and Russia’s Rosoboronexport, represents a significant
advancement in India’s defense preparedness.
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What is Igla-S VSHORAD Systems?

 The Igla-S VSHORAD system, a portable missile system, is specifically designed to counter low-altitude aerial threats,
including aircraft, helicopters, and drones, in close proximity. Its integration into the Indian Army’s arsenal addresses
critical gaps in the nation’s air defense grid. The procurement package includes 48 launchers, 100 missiles.
 The Indian Air Force recently conducted a test in Agra for the BHISHM portable hospital, a crucial component of “Project
BHISHM” aimed at providing rapid and comprehensive medical assistance during emergencies. These portable cubes,
part of a broader initiative, can cater to up to 200 casualties, emphasizing swift response and extensive care.
 The Indian Air Force (IAF) has been actively assisting Uttarakhand in combating the forest fires. In response to the
raging fires in the Pauri Garhwal sector, the IAF provided much-needed relief by undertaking Bambi Bucket operations
using its Mi17 V5 helicopters.

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 The Defence Research and Development Organisation (DRDO) has achieved a significant milestone in enhancing
India’s anti-submarine warfare capabilities with the successful flight-test of the Supersonic Missile-Assisted Release
of Torpedo (SMART) system. This next-generation torpedo delivery system was successfully flight-tested on May 01,
2024, from Dr. APJ Abdul Kalam Island off the coast of Odisha.
 The Indian Air Force (IAF) has achieved a significant milestone by successfully testing a new version of an air-launched
medium-range ballistic missile. The missile, codenamed ROCKS or Crystal Maze 2, was test-fired from a Su-30 MKI
fighter jet in the Andaman and Nicobar Islands. This cutting-edge missile boasts an impressive strike range exceeding
250 km, making it capable of targeting enemy long-range radar and air defense systems with precision. Its advanced

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guidance system enables it to hit targets in GPS-denied environments.
 The Indian Army has established two of the world's highest tank repair facilities in Ladakh near the Line of Actual
Control (LAC), a hypothetical demarcation separating India and China.

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 Pakistan did a successful test launch of the “Fatah-II” guided multi-launch rocket system. Pakistan’s weaponry is
getting better, and this event is a big step in that direction. The Fatah-II rocket system was made to hit targets up to 400
kilometers away with great accuracy.

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 Japan and the US recently decided to work together to make interceptors that can shoot down hypersonic missiles. A

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contract worth more than $3 billion was signed between the two countries to make this deal official.
 Indian Army is set to receive the first Hermes-900 Starliner drone, known as the Drishti-10, on June 18. The delivery of
the Drishti-10 drone is facilitated by Adani Defence Systems under a contract that utilises emergency powers granted by
the Defence Ministry. Hermes-900 Starliner is capable of long-duration flights of over 30 hours and covers distances up
to 2,000 km, making it ideal for extensive surveillance missions. Its advanced technology is partly sourced from Israeli
firm Elbit, with an agreement in place for technology transfer to boost indigenous manufacturing by Adani Defence.
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 Defence Research and Development Organisation (DRDO) has developed the lightest bulletproof jacket in India. The
jacket, designed by the Defence Materials and Stores Research and Development Establishment (DMSRDE) in Kanpur.
 India and France are set to conduct the 7th edition of the Joint Military Exercise ‘Shakti’ between May 13-26, 2024, in
the Umroi region of Meghalaya.
 The exercise, titled “Gagan Strike-II,” incorporated various force multipliers, including Apache and ALH-WSI helicopters,
Unarmed Aerial Vehicles (UAVs), and special forces of the Indian Army. The primary objective was to validate the
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use of these assets in support of ground offensive operations by strike corps, along with live firing by helicopters as
demanded by mechanized forces during offensive maneuvers.
 The Indian Navy conducted a mega exercise, ‘Poorvi Leher,’ along the East Coast to validate its procedures and assess
its preparedness to meet maritime security challenges in the region. The extensive drill witnessed the participation of
ships, submarines, aircraft, and special naval forces.
Edition Name of Exercise Participating Countries Location Type
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7th Exercise ‘Shakti’ India and France Umroi, Meghalaya Military Exercise
ECONOMY AND BANKING AWARENESS
 The National Institute of Public Finance and Policy (NIPFP) predicts India’s GDP growth for the fiscal year 2024-25
to be 7.1%.
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Deloitte India has revised its GDP growth forecasts for FY24 and FY25 of 7.6-7.8% for FY24, up from the previous
estimate of 6.9-7.2%.
The Organisation for Economic Co-operation and Development (OECD) has revised India’s GDP growth projection
upward to 6.6% for the fiscal year 2024-25.
Global Economic Outlook GDP growth is forecasted to reach 3.1% in 2024, with a slight uptick to 3.2% in 2025.
India Ratings and Research have revised upward their GDP growth estimate for FY25 to 7.1%.
Moody’s Ratings predicts a 6.6% expansion for the Indian economy in the fiscal year ending March 2025 (FY25).
The United Nations has revised India’s economic growth forecast for 2024.
India Ratings and Research (Ind-RA) expects the GDP growth rate to be 6.7% for the March quarter and around 6.9-7%
for the entire fiscal year.

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 The Consumer Price Index (CPI) went down a little from 4.85% in March to 4.83%, according to the National Statistical
Office.
In April, wholesale inflation in India raise to a 13-month high of 1.26%, up from 0.53% in March. This was primarily
due to rising prices of food articles, particularly vegetables, and a year-on-year increase of 1.4% in fuel and power costs.
 The 22nd Periodic Labour Force Survey (PLFS) conducted by the National Sample Survey Office (NSSO) revealed
that the unemployment rate among individuals aged 15 years and above in urban areas of India decreased to 6.7% in
the January-March 2024 period.

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Labour Force Participation Rate (LFPR) in urban areas for individuals aged 15 years and above rose to 50.2% in January-
March 2024, marking an increase from 48.5% in the same period a year ago.
The PLFS, initiated in April 2017, provides quarterly estimates of labor force indicators.

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 The Reserve Bank of India (RBI) has disclosed that 97.76% of the Rs 2000 denomination banknotes have been reabsorbed
into the banking system.

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The announcement of their withdrawal from circulation was on May 19, 2023.
As of April 30, 2024, the total value of Rs 2000 banknotes in circulation has plummeted from Rs 3.56 lakh crore to Rs

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7,961 crore.
 In an effort to combat tax evasion in the pan masala and tobacco sectors, the GST portal has introduced new forms and
procedures for manufacturers to register their machinery and report monthly inputs and outputs.
The GST portal has developed two forms for manufacturers of pan masala and tobacco products:
Form GST SRM-I: For registering and disposing of manufacturing machines.
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Form GST SRM-II: For reporting monthly inputs and outputs.
Initially set to be implemented on April 1, the system’s launch was deferred to May 15.
 As of May 20, 2024, India's foreign exchange reserves with the Reserve Bank of India (RBI) are $642,631 million,
which includes $55.952 billion in gold reserves.
 As of the end of March 2024, the Reserve Bank of India held a total of 822 metric tonnes of gold, with 408 metric tonnes
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held within the country.

 The RBI has issued comprehensive guidelines outlining the voluntary transition path for Small Finance Banks (SFBs)
seeking to become Universal Banks.
To be eligible for conversion, SFBs must have a minimum net worth of Rs 1,000 crore, a satisfactory performance track
record of at least five years, and listed status.
Along with maintain a gross non-performing asset (NPA) of 3% or less and a net NPA of 1% or less in the past two
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financial years.
Additionally, they must have reported a net profit in the same period and meet prescribed capital adequacy norms.
 ICICI Bank is among India’s top five companies by market capitalization, surpassing the Rs 8 trillion mark.
The elite club of India’s top five companies by market capitalization is led by Reliance Industries with Rs 19.8 trillion,
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followed by Tata Consultancy Services (TCS) at Rs 14 trillion.

Among banks, HDFC Bank holds the top position with a market capitalization of Rs 11.6 trillion, while State Bank of
India stands at Rs 7.4 trillion.
 According to the recent RBI’s report, the Indian economy must grow at a rate of 8-10% per annum over the next decade
to reap the benefits of its demographic dividend.
India’s demographic dividend started accruing from 2018 and is expected to last until 2055.
The working-age population in India is projected to expand at a rate of about 9.7 million per year during 2021-2031
and 4.2 million per annum during 2031-2041.
 The Reserve Bank of India (RBI) recently announced the launch of ‘Inflation Expectations Survey of Households’ and
‘Consumer Confidence Survey’.
This survey spans 19 cities, including Guwahati, Hyderabad, Jaipur, Kolkata, Lucknow, and Thiruvananthapuram.
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 The Ministry of Finance has granted Authorised Economic Operator (AEO) status to the gem and jewellery sector, as
part of efforts to promote ease of doing business.
Authorised Economic Operator (AEO) program operates under the World Customs Organization (WCO) SAFE
Framework.
Its goal is to boost international supply chain security and smooth the movement of lawful goods.
Aligned with World Trade Organization trade facilitation agreements.

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In India, the AEO Programme (a voluntary initiative) was introduced by the Central Board of Indirect Taxes and Customs
(CBIC) in India in 2011.
 IndusInd Bank, in collaboration with Circularity Innovation Hub India Private Limited (CIH), has executed the Reserve

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Bank of India’s pilot program on programmable Central Bank Digital Currency (CBDC).
IndusInd Bank programmed the CBDC to facilitate fund disbursement with a specific focus on aiding farmers in Ratnagiri
district, Maharashtra.

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The bank initiated disbursements to 50 farmers initially, with plans to extend the program to cover approximately 1,000

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farmers.
Hindustan Agro and Jackfruit King Company played pivotal roles in engaging farmers and linking sustainable practices
to additional revenue streams.
Emertech Innovations developed a Blockchain-backed platform to ensure transparency and traceability in the generation
and disbursement of revenues from Circularity Credits.
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 YES Bank has partnered with ANQ to introduce two innovative credit cards, Pi and Phi, aiming to blend traditional
banking with fintech solutions.
The Pi card offers digital-only credit on UPI for domestic transactions, while the Phi card provides physical access for
both domestic and international purchases.
ANQ is a digital technology platform that enables access to smarter financial products and services.
 HDFC Life launches the “No Jhanjhat Life Insurance Fatafat” campaign, aimed at simplifying and expediting life
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insurance purchases through its online platform.

Through initiatives like the “No Jhanjhat Life Insurance Fatafat” campaign, HDFC Life reaffirms its commitment to
the mission of ‘Insurance for All by 2047’.
 In response to the introduction of the T+1 settlement regime for stocks, the RBI has updated the guidelines for custodian
banks regarding the issuance of Irrevocable Payment Commitments (IPCs).
Under these revised guidelines, custodian banks issuing IPCs will be subject to a maximum intraday risk, considered
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as capital market exposure (CME), capped at 30 percent of the settlement amount.

A custodian provides an investor a place to store assets with little risk. This reduces the risk of the client losing their
assets or having them stolen. They are also available to sell through the brokerage at the client's demand. It is one of
the financial services in which a brokerage or other financial institution holds and manages a client's securities or other
assets on their behalf.
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Irrevocable payment commitments are defined as an obligation on the part of credit institutions to pay their contributions
in the future, through a contract signed between the financial arrangement and an institution that opts for the IPC.
 Swing Trading is a style of trading where investors keep their positions for longer than a single day, typically holding
onto stocks for several days or weeks. Its goal is to capture gains in a stock’s value as it swings up and down.
 Securities and Exchange Board of India (SEBI) has extended LIC’s deadline to achieve a minimum 10% public
shareholding. LIC, a state-owned insurance giant, now has until May 16, 2027, to fulfill this obligation.
As of March 31, 2024, LIC’s public shareholding stands at 3.5%, indicating that significant divestment is still required
for compliance.
LIC was listed on May 17, 2022, triggering the initial requirement for achieving a 10% public shareholding within three
years.

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 IREDA (Indian Renewable Energy Development Agency), the financing agency for Renewable projects in India, was
conferred with ‘Navratna status’ by the Department of Public Enterprises (Ministry of Finance).
 The Insurance Regulatory and Development Authority of India (IRDAI) has proposed to price Bima Vistaar, its ambitious
all-in-one affordable insurance mass product aimed at the rural areas of the country, at Rs 1,500 per policy. The first-
of-its-kind all-in-one affordable insurance product, Bima Vistaar will offer life, health and property cover.
The Trinity will include Bima Sugam, the digital platform, Bima Vistaar and Bima Vahak, a women-centric distribution
channel to focus on reaching untapped/rural areas.

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 SBI General Insurance, the non-life insurance arm of State Bank of India (SBI), has launched ‘Surety Bond Bima’ to
support infrastructure development by providing a security arrangement for infrastructure projects.
 Bank of Maharashtra has emerged as a top performer among PSBs.

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With a 15.94% rise in total business and a 15.66% increase in deposits.
 PSBs are expected to deliver approximately 30% higher dividends to the government in FY24 compared to the previous

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fiscal year. The total dividends from PSBs are estimated at ₹18,013 crore for FY24, compared to ₹13,804 crore in FY23.
Leading the dividend payout list are State Bank of India (SBI), Bank of Baroda (BoB), Canara Bank, and Indian Bank.

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SBI’s dividend, the highest among PSBs, stands at ₹13.70 per equity share for FY24, contributing about 39% to the
total PSB dividend payout to the government.
BoB’s dividend at ₹7.60 per equity share (380% on face value ₹2) ranks as the second highest among PSBs, followed
by Canara Bank’s dividend of ₹16.10 per equity share (161% on face value of ₹10). Indian Bank also recommended a
significant dividend of ₹12 per equity share (120%).
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 SBI announced that it has become the first bank to become a Trading cum Clearing (TCM) Member at India International
Bullion Exchange (IIBX).
It enables SBI’s IFSC Banking Unit (IBU) to trade on the IIBX platform as the RBI allowed IBUs to act as trading
members and clearing members at IIBX as Special Category Clients (SCCs) for importing gold through the bullion
exchange. IIBX regulated by the International Financial Services Centers Authority (IFSCA) is India’s first bullion
exchange established in GIFT -City IFSC.
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 The Reserve Bank of India (RBI) directed Kotak Mahindra Bank to immediately stop onboarding new customers through
online and mobile banking channels. The RBI’s action was taken under Section 35A of the Banking Regulation Act,
1949.
 RBI has issued draft guidelines titled “Digital Lending – Transparency in Aggregation of Loan Products from Multiple
Lenders” to promote transparency in the digital lending space.
 The Indian Railways plans to set up an additional 200 Gati Shakti Cargo Terminals (GCTs) to boost freight revenue,
decongest rail networks, and enable faster passenger train movement. This expansion follows the successful implementation
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of the first 100 GCTs announced in the Union Budget 2022-23.

GCTs are multi-modal terminals used by corporates to handle bulk cargo that is transported via rail.
 The Reserve Bank of India (RBI) has proposed a revised regulatory framework for Electronic Trading Platforms (ETPs).
In October 2018, the RBI introduced a regulatory framework for ETPs to ensure fair access, transparency, safety,
efficiency, and prevention of market abuse. Since then, 13 ETPs operated by 5 operators have been authorized under
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this framework.
ETPs are digital systems that facilitate the trading of various financial instruments, such as securities, derivatives, and
foreign exchange products. ETPs operate outside of traditional stock exchanges and provide a platform for buyers and
sellers to trade directly with each other.
 The central directive facilitates the exclusion of farmers practicing stubble burning from receiving MSP benefits from
2024-25. This was articulated following a recommendation from the Committee of Secretaries (CoS) in their meeting
on April 10, chaired by the Cabinet Secretary. This decision is informed by a goal to discourage a practice detrimental
to environmental health and air quality, particularly in Northern India (Punjab, Haryana, Uttar Pradesh, NCT of Delhi,
and Rajasthan).
In 2023, the Supreme Court insisted on introducing disincentives for stubble burning, majorly affecting the perennial
problem of air pollution.

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 Ministry of Labour and Employment joined the PM Gati Shakti site. Strengthening health infrastructure and social
security measures in industrial places and Special Economic Zones (SEZs) is the main goal.
The ministry started by geotagging about 1.3 million buildings that were part of the EPFO and about 1.5 million buildings
that were part of the ESIC. This included 104 ESIC hospitals.
Exploring 268 Special Economic Zones (SEZs) through the Gati Shakti platform as part of strategic growth will give
many workers in these zones access to social security programs.

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 The Annual Information Statement (AIS) is a detailed record of all of a taxpayer’s financial transactions during the tax
year. It includes information from many sources, such as banks and mutual funds.
India’s Income Tax Department created the Annual Information Statement (AIS), which is a better version of Form

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26AS.
 The EPFO has made it easier to settle claims for loans used for things like schooling, marriage, and housing by adding
an “auto-mode settlement” process. By streamlining the process and reducing the need for human input.

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The highest amount that can be claimed in advance has been raised to Rs. 100,000.
 The RBI told NBFCs in March that they had to follow the rules for gold loans carefully.

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The loan amount can’t be more than 75% of the gold’s value.
No more than ₹20,000 can be given out in cash; any more money must be sent through a bank transfer.
Gold that has been repossessed must be auctioned off clearly so that borrowers can see the lots.
 SEBI has granted approval to CRISIL ESG Ratings & Analytics as a Category 1 provider of ESG ratings, marking a
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significant development in the realm of environmental, social, and governance (ESG) assessments in India.
 RBI has instructed Talkcharge Technologies to halt the issuance and operation of its Prepaid Payment Instruments (PPIs)
or wallets. This directive follows the RBI’s observation of the firm issuing wallets without proper authorization. As a
result, Talkcharge must refund the balances held in these wallets to customers by May 17, 2024.
 Invest India forecasts India’s e-commerce market to reach $325 billion by 2030, with the nation’s digital economy
expected to hit $800 billion. Currently valued at $70 billion, online shopping accounts for 7% of India’s total retail
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market.
 India and Ghana are poised to integrate their payment systems, UPI and GHIPSS, to facilitate instant and cost-effective
fund transfers between the two nations. Within six months, NPCI’s UPI is set to be operational on Ghana’s GHIPSS
platform.
NPCI International’s recent partnership with Bank of Namibia to develop a UPI-like real-time payment system further
India’s commitment to fostering financial inclusivity beyond its borders. Similar discussions are underway with Nigeria.
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 The Federation of Indian Export Organisations (FIEO) forecasts India’s merchandise exports to reach $500-510 billion
in FY25, rebounding from a 3% contraction in the previous fiscal year.
 The Open Network for Digital Commerce (ONDC), backed by the government, has garnered significant interest from
125 startups committed to the platform, among them are renowned unicorns like Zerodha, EaseMyTrip, and Cars24.
ONDC aims to revolutionize digital commerce by offering visibility to products and services, thereby empowering small
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and local sellers who have previously been under served by digital platforms.
 Drip pricing is a pricing technique used by firms where they initially advertise only part of a product’s price referred to
as the “headline price”.
As the customer proceeds through the buying process, additional charges are gradually revealed.
The Department of Consumer Affairs asked consumers to reach out to NCH 1915 for assistance if they need help with
‘drip pricing’.
 Insurance Surety Bonds is a financial instrument, where insurance companies act as ‘Surety’ and provides the financial
guarantee that the contractor will fulfil its obligation as per the agreed terms.
It is a risk transfer mechanism wherein an insurer provides a guarantee to a beneficiary or obligee that the principal or
contractor will meet his contractual obligations.

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Insurance companies have issued about 700 insurance surety bonds valued about ₹3,000 crore after Centre makes the
instrument on par with bank guarantees for all government procurements.
 India VIX is a volatility index that measures the expected volatility in the Indian stock market over the next 30 days.
It is often referred to as the “Fear Index” because it reflects investors’ sentiments about the market’s future volatility.
 The Reserve Bank of India (RBI) has issued a direction outlining updated guidelines for Asset Reconstruction Companies
(ARCs), effective from 24th April 2024.

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ARCs are now required to have a minimum capital of Rs 300 crore, a significant increase from the previous requirement
of Rs 100 crore.
Existing ARCs are granted a transition period to achieve the new minimum Net Owned Fund (NOF) threshold of Rs

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300 crore by 31st March 2026.
ARCs must ensure a minimum capital of Rs 200 crore by 31st March 2024, as part of the transition towards the higher
capital requirement.

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ARCs with a minimum NOF of Rs 1000 crore are permitted to act as resolution applicants in the asset resolution process
under Insolvency and Bankruptcy Code, 2016 (IBC).

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ARCs are financial institutions that buy Non-Performing Assets (NPAs) or bad assets from banks and financial institutions.
It is incorporated under the Companies Act, 2013 and registered with the Reserve Bank of India under the Securitisation
and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002.
 Inheritance tax is a tax paid for inheriting a property or asset from a deceased person.
A person can receive inheritance either under a Will or under the personal law of the deceased.
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In India, the concept of levying tax on inheritance does not exist now.
India exhibits staggering wealth inequality, with the top 10% of the population holding 77% of the total national wealth.
The richest 1% owns 53% of the country’s wealth, leaving the poorer half with a mere 4.1%.
Approximately 64% of the total goods and services tax (GST) in the country came from the bottom 50% of the population,
while only 4% came from the top 10%.
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 India’s net direct tax collections grew 17.7% in 2023-24 to hit Rs.19.58 lakh crores.
Share of Corporate Taxes contribution to overall tax collection dipped to 46.5% from 49.6% in 2022-23.
Personal income taxes share rose to 53.3% from 50.06% in the previous year.
 The United Nations Conference on Trade and Development (UNCTAD) has released its Global Trade Update 2024.
UNCTAD has officially rebranded as “UN Trade and Development” as part of its 60th-anniversary celebrations.
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 The International Monetary Fund (IMF) has released its Regional Economic Outlook for Asia And Pacific Report April
2024. It raised India’s growth forecast for the financial year 2024-25 to 6.8% from 6.5% earlier and retained the growth
forecast for 2025-26 at 6.5%.
 The United States of America designates a country as non-market economy based on several factors namely
If the country’s currency is convertible;
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If wage rates are determined by free bargaining between labour and management;
If joint ventures or other foreign investment are allowed; whether the means of production are owned by the state; and
If the state controls the allocation of resources and price and output decisions.
The non-market economy label allows the US to impose “anti-dumping” duties on goods imported from designated
countries.
Vietnam has been pushing the President United States of America to quickly change its “non-market economy”
classification to “market economy” status.

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MISC
 In a remarkable discovery, scientists have identified a new species of wild cat in the dense rainforests of Brazil, these
have been also called as clouded tiger cat (Leopardus pardinoides).
 Russia claimed to have discovered massive oil and gas reserves in the British Antarctic Territory, a region currently
protected under the 1959 Antarctic Treaty.
 Shompen tribe, one of India’s Particularly Vulnerable Tribal Groups (PVTGs), exercised their democratic right for the

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first time by casting votes in the Andaman and Nicobar Lok Sabha constituency elections.
 Council of Scientific & Industrial Research (CSIR) recently unveiled India’s largest Climate Clock at its headquarters
in New Delhi.

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 India’s First Multi-Purpose Green Hydrogen Pilot Project has been Inaugurated in Himachal Pradesh. This 1,500 MW
Nathpa Jhakri Hydro Power Station (NJHPS) in Himachal Pradesh’s Jhakri by Satluj Jal Vidyut Nigam .
 Adani Group’s Vizhinjam Port in Kerala has received approval from the government to operate as India’s inaugural or

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First transshipment port.

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 The Government of Tamil Nadu has launched a three-day survey of the Nilgiri Tahr, the state’s iconic animal to conserve
this endangered species
 IIT Guwahati Introduces Innovative 3D Printed Dummy Ballot Unit in Kamrup,Assam.
 Managing Director Bajaj Auto Rajiv Bajaj said the company will launch the world’s first CNG-powered motorcycle
on June 18, 2024.
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 Kohima Peace Memorial and Eco Park in Nagaland have been recently setup by the collaborative effort between the
Government of Japan, the Japanese International Cooperation Agency and the Government of Nagaland.
 India & Oman have jointly conducted the Shark and Ray Research in Arabian Sea.
 Zimbabwe has launched a new currency called the ZiG (also named Zimbabwe Gold)
 According to IQAir, an organization that measures the real-time pollution among 101 cities worldwide, Kathmandu
has been ranked as the most polluted city globally.
ED

 Sunita William with colleague Butch Wilmore, will go for her third space mission to the International Space Station
(ISS). This mission is the inaugural crewed flight of the Starliner spacecraft.
 Nepali mountaineer Kami Rita Sherpa has achieved the milestone by conquering Mount Everest(8849m) for the 29th
times.
 IAF has conducted “ Bambi Bucket” Operations to combat Forest Fires in Pauri Garhwal sector,Uttarakhand with the
help of Mi17 V5 helicopters.
CE

 United Nations General Assembly has unanimously declared 25th May as the World Football Day.
 Indonesia has evacuated hundreds of People from Halmahera island in eastern part of the country for erupting the
Volcano Mount Ibu.
 Ramcharitmanas, Panchatantra, and Sahṛdayaloka-Locana – have been inscribed on UNESCO’s Memory of the World
Asia-Pacific Regional Register.
RI

 Bharat Pavilion, formerly known as the India Pavilionhas been inaugurated at the 77th Cannes Film Festival for 2024.
The pavilion marks India’s continued commitment to showcasing its rich cinematic heritage and fostering international
collaborations with the global film fraternity.
 Union Defence Secretary Giridhar Aramane has unveiled a commemorative coin of Rs 250 during the celebration of
the 250th anniversary of Mazagon Dock Limited (MDL) in New Delhi.
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