Daily Current Affairs – May 10, 2024
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Daily Current Affairs - Banking - May 10, 2024
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State News
Uttarakhand Government Launches Pirul Lao Paise Pao Campaign
- The Uttarakhand government has launched the Pirul Lao-Paise Pao campaign to contain the raging forest fire in the state.
- The campaign was launched by the Uttarakhand Chief Minister in the Rudraprayag district.
- Under the Pirul Lao-Paise Pao campaign, the local youth and villagers will collect dry Pirul (Pine tree leaves) in the forest and take them to the designated Pirul collection centre.
- The Tehsildar in their respective areas will manage the pirul collection centre under the supervision of the Sub-Divisional Magistrate.
- The Pirul will be weighed and stored at the collection centre, and the villagers or youth will be paid ₹50 per kg, which will be directly transferred to the bank accounts.
- The collected Pirul will be packed and processed, and sold to the industries for further use.
- The state has designated the Uttarakhand Pollution Control Board to oversee the Pirul Lao-Paise Pao Campaign and has allocated ₹50 crores for the Pirul Lao-Paise Pao campaign.
Banking and Finance
IREDA incorporates "IREDA Global Green Energy Finance IFSC Limited” in GIFT City, Gujarat
- Indian Renewable Energy Development Agency Ltd. (IREDA) has incorporated a wholly owned subsidiary in the International Financial Services Centre (IFSC) located in GIFT City, Gujarat.
- The subsidiary was officially incorporated as “IREDA Global Green Energy Finance IFSC Limited”.
- In February 2024, the Reserve Bank of India gave its No Objection letter to set up the finance company in IFSC GIFT City.
- This subsidiary not only positions IREDA to extend its global reach but also acts as an offshore platform for securing competitive funding to drive the renewable energy sector’s growth, aligning with the Government of India’s ambitious ‘Panchamrit’ targets.
- Indian Renewable Energy Development Agency Limited (IREDA) – 1987 (Formed) – New Delhi (HQ) – Pradip Kumar Das (Chairman & MD)
Brazilian payment company Ebanx set to start India operations with Yes Bank
- Brazilian payments major Ebanx has signed a deal with Yes Bank to set up a cross-border merchant payment infrastructure in India for global brands looking to sell to consumers here.
- Indian consumers can use the Ebanx system to pay for such purchases with local currency using local payment methods including card payment modes including RuPay cards and Unified Payments Interface (UPI).
- Ebanx works with around 300 brands, helping them process payments in multiple countries across Latin America and Africa.
- Founded in 2012 in Brazil, Ebanx has raised more than $400 million over three major equity investments from the likes of Advent International and FTV Capital.
- Brazil – Brasília (Capital) – Real (Currency) – Lula da Silva (President) – Portuguese (Official Language)
South Indian Bank and Northern Arc Capital join hands to set new benchmarks in the financial sector
- South Indian Bank has formed an association with Northern Arc Capital aiming to explore and maximise commercial prospects by combining efforts in loan origination, underwriting, disbursement, collection, and reconciliation procedures.
- The collaboration will concentrate on co-lending and partnership lending activities, as well as facilitating smooth loan transfers between banks and originators.
- This collaboration has been formalised with the signing of a Memorandum of Understanding (MOU), demonstrating both institutions’ commitment to a mutually beneficial partnership.
- The cooperation represents a shared commitment to leveraging synergies, expertise, and resources to improve the efficiency and effectiveness of lending operations.
- South Indian Bank and Northern Arc Capital have joined forces to capitalise on new market trends, diversify their portfolios, and provide innovative financial solutions to a larger consumer base.
- The cooperation will allow South Indian Bank to use nPOS, Northern Arc’s unique technology platform for co-origination, co-lending, and pool buyouts, as well as interact with numerous originators for loan origination, underwriting, disbursement, and reconciliation.
Agreements and MoUs signed
GalaxEye signs MoU with IN-SPACe for co-working and testing facilities
- Space-tech start-up GalaxEye has gained access to the co-working and testing facilities of the Indian National Space Promotion and Authorization Centre (IN-SPACe) in Ahmedabad.
- The start-up signed a memorandum of understanding (MoU) with IN-SPACe, an autonomous agency under the Department of Space, to formalise the collaboration.
- The partnership facilitates the utilisation of ISRO’s laboratories and testing facilities.
- GalaxEye is planning to build multi-sensor earth observation (EO) satellites and is set to launch their first satellite, Drishti Mission, within a year from now.
- In 2023, GalaxEye developed a UAV SAR system for defence markets and completed over 200 successful flights with UAV SAR Payload.
- Further, GalaxEye has introduced the “Drishti Sensor”, a sensor technology which helps with cloud cover and provides high quality images with detailed and timely data that is required for mission preparation, border patrols, and disaster management.
ICG signs MoU with Hindalco Industries for manufacturing & supply of indigenous marine-grade aluminum for construction of ships
- Indian Coast Guard (ICG) signed a Memorandum of Understanding (MoU) with Hindalco Industries in New Delhi for the manufacturing and supply of indigenous marine-grade aluminium to Indian public and private shipyards for the construction of ships.
- The MoU will also provide benefits such as quarterly pricing, priority in supplies and Turnover discount.
- The MoU was signed by Deputy Director General (Materiel & Maintenance), ICG IG HK Sharma and CEO, Downstream Aluminium Business, Hindalco Shri Nilesh Koul.
- The ICG fleet is presently operating 67 ships with aluminium hull with capability of operating in shallow waters.
- To further boost coastal security, it has planned to induct more such vessels where the indigenously manufactured marine-grade aluminium will be utilised.
- Indian Coast Guard (ICG) – 18/08/1978 (Founded) – New Delhi (HQ) – Rakesh Pal (Director General) – Ministry of Defence (Under) – The Coast Guard Act, 1978
India sign Moldova pact on visa waiver on diplomatic and official passports
- India and Moldova signed an agreement on visa waiver for diplomatic and official passports.
- The agreement will allow holders of diplomatic and official passports of either country to travel to the other, without a visa.
- The agreement will add further momentum to ties between India and Moldova.
- Diplomatic relations between India and Moldova were established on March 20, 1992.
- The ties between India and Moldova are warm, stable and friendly.
- Moldova – Chișinău (Capital) – Moldovan leu (Capital) – Maia Sandu (President) – Dorin Recean (Prime Minister) – Romanian (Official Language)
Nature
New Marine Species named after Chandrayaan 3
- A new species of marine tardigrade discovered from the southeast coast of Tamil Nadu has been named Batillipes chandrayaani after the Chandrayaan-3 moon mission by researchers at the Cochin University of Science and Technology (Cusat).
- The Indian Space Research Organisation (ISRO) is credited with the first landing near the south pole of the moon.
- Tardigrades are microscopic marvels commonly known as ‘water bears,’ although they have no relation to actual bears.
- The names aside, what makes the Cusat discovery special is that it is the third marine tardigrade species to have been scientifically described from the Indian waters and the second from the east coast.
- Similar in size to other tardigrades, it grows to a length of 15 millimetres and 0.04 millimetres in width.
- It has a trapezoid-shaped head and four pairs of legs with sharp-tipped sensory spines.
- Both sexes are similar in terms of morphology and size, the Zootaxa paper notes.
- Batillipes chandrayaani is also the 39th species described under the genus Batillipes.
- The same Cusat team had discovered a tardigrade species from the southwest coast (Stygarctus keralensis) in 2021 and another from the southeast coast (Batillipes kalami) in 2023.
- Indian Space Research Organisation (ISRO) – 15/08/1969 (Founded) – Bangalore, India (HQ) – Sreedhara Somanath (Chairman)
Power
chargeMOD ties up with A Plus Charge to set up EV charging stations in North East
- Energy tech start-up chargeMOD, a leading provider of EV charging solutions, and A Plus Charge, the Guwahati-based firm in setting up EV charging, has announced a strategic partnership to accelerate the deployment of 1,000 plus EV charging stations across the North East in India.
- With the incorporation of over 1,000 new chargers, chargeMOD’s network will expand to a total of 4,200 chargers across the country.
- This encompasses 2,000 chargers already in operation, along with 1,200 recently announced charging stations.
Appointments
Vice Admiral Sanjay Bhalla assumes charge as the Chief of Personnel of the Indian Navy
- Vice Admiral Sanjay Bhalla, AVSM, NM assumes charge as the Chief of Personnel of the Indian Navy.
- He was commissioned in the Indian Navy on 01 January 1989.
- As recognition for his distinguished Service, he has been awarded the Ati Vishisht Seva Medal, the Nao Sena Medal, and Commendations by the Chief of the Naval Staff and the Flag Officer Commanding-in-Chief.
OMEGA ropes in Olympic gold medalist Neeraj Chopra as sporting ambassador
- Olympic and world championships gold medal-winning javelin thrower Neeraj Chopra have been roped in as the sporting ambassador of Swiss luxury brand for watches OMEGA, which is also the Official Timekeeper for this year’s Paris Olympics.
- OMEGA has been the Official Timekeeper at almost every Olympic Games since 1932.
- Paris 2024 will mark OMEGA’s 31st occasion as Official Timekeeper of the Games.
R Shankar Raman elevated as President of L&T
- Larsen and Toubro elevated R Shankar Raman as the President of the engineering and construction conglomerate.
- Post the promotion, Raman will continue to hold the position of the whole-time Director and CFO of the company as well.
- The company’s Senior Executive Vice President (EVP), Energy, Subramanian Sarma has been elevated to whole-time Director and President, Energy.
SBI General Insurance appoints Jaya Tripathi to lead Key Relations Group
- SBI General Insurance has announced the appointment of Jaya Tripathi as Head of Key Relations Group.
- She will lead the expansion of new business opportunities and partnerships, drive sales team growth, and deepen partner relationships to enhance profitability.
- SBI Life Insurance Company Limited – March 2001 (Founded) – Mumbai (HQ) – Amit Jhingran (MD & CEO)
Awards and Recognitions
President of India presents Padma Awards at Rashtrapati Bhawan
- The President of India, Droupadi Murmu presented 2 Padma Vibhushan, 9 Padma Bhushan and 56 Padma Shri Awards for the year 2024 at the Civil Investiture Ceremony-II held with grandeur in Darbar Hall of the Rashtrapati Bhawan.
Obituary
Former bureaucrat and educationist Moosa Raza dies at 87
- Former Chief Secretary of Jammu and Kashmir and chairman of Southern Indian Education Trust (SIET), which runs several educational institutions in Chennai, Moosa Raza passed away at the age of 87.
- He served the Gujarat and Central governments in various capacities, including the Principal Secretary to the Chief Minister of Gujarat and Chief Secretary, Government of Jammu and Kashmir and also served as a member of the National Integration Council of India.
- He was awarded Padma Bhushan in 2010.
- Some of the books written by him include Kashmir: Land of Regrets, Of Giants and Windmills, The Smile on Sorrow’s Lips and in Search of Oneness.
Urdu litterateur Salam Bin Razzaq passes away at 83
- Renowned Urdu litterateur and academician, Shaikh Abdussalam Abdurrazzaq passed away at 83.
- He won the prestigious Sahitya Akademi Award for Urdu literature for his acclaimed short stories collection, ‘Shikasta Buton Ke Darmiyan’, in 2004.
- He also won Ghalib Award, Maharashtra Urdu Sahitya Akademi Award, and many more.
Sports News
Bajrang Punia suspended by UWW
- Ace Indian wrestler Bajrang Punia found himself in trouble as United World Wrestling (UWW) suspended the wrestler till the end of the year.
- The reasoning behind the ban is his refusal to undergo a dope test.
- Earlier he was suspended by NADA after being served a whereabouts failure notice.
- United World Wrestling (UWW) – 1912 (Founded) – Corsier-sur-Vevey, Lausanne, Switzerland (HQ) – Nenad Lalović (President)
Important Days
World Lupus Day 2024 is observed on May 10
- World Lupus Day is annually observed on May 10.
- The day is celebrated to raise awareness around this lesser-known disease that could greatly impact those suffering from it and their families.
- Lupus is a disease that occurs when your body’s immune system attacks your own tissues and organs (autoimmune disease).
- Inflammation caused by lupus can affect many different body systems — including your joints, skin, kidneys, blood cells, brain, heart and lungs.
- This day was first observed in 2004.
Defence
DRDO organises two-day National Symposium & Industry Meet on ‘Emerging Technologies in Infrastructure Development’
- A National Symposium and Industry Meet on ‘Emerging Technologies in Infrastructure Development’, organised by Defence Research and Development Organisation (DRDO), was inaugurated by Defence Secretary Giridhar Aramane in New Delhi.
- The two-day event, with the participation from the Armed Forces, academia, industry and DRDO, aims to foster dialogue, exchange knowledge and explore innovative approaches to address the challenges and opportunities presented by emerging technologies in infrastructure development in line with the vision of ‘Aatmanirbhar Bharat’.
- The symposium, being attended by over 500 delegates with 5 technical sessions, will deliberate upon varying topics on emerging technologies in infrastructure development being expounded by experts from the users, industry, academia and scientists from DRDO.
- The Defence Secretary also inaugurated the industry-partner exhibition, organised on the sidelines of the event, showcasing latest technologies and products developed by the various industry partners.
- The event also includes student competition from IITs, NITs and other Engineering colleges.
- A symposium souvenir and Research & Development Construction Establishment Work Procedure 2024 were also released during the event.
- Defence Research and Development Organisation (DRDO) – 1958 (Founded) – New Delhi (HQ) – Dr Sameer V Kamath (Chairman)
Daily Current Affairs - May 10, 2024 - Consolidated
- Uttarakhand Government Launches Pirul Lao Paise Pao Campaign
- IREDA incorporates “IREDA Global Green Energy Finance IFSC Limited” in GIFT City, Gujarat
- Brazilian payment company Ebanx set to start India operations with Yes Bank
- South Indian Bank and Northern Arc Capital join hands to set new benchmarks in the financial sector
- GalaxEye signs MoU with IN-SPACe for co-working and testing facilities
- ICG signs MoU with Hindalco Industries for manufacturing & supply of indigenous marine-grade aluminum for construction of ships
- India sign Moldova pact on visa waiver on diplomatic and official passports
- New Marine Species named after Chandrayaan 3
- chargeMOD ties up with A Plus Charge to set up EV charging stations in North East
- Vice Admiral Sanjay Bhalla assumes charge as the Chief of Personnel of the Indian Navy
- OMEGA ropes in Olympic gold medalist Neeraj Chopra as sporting ambassador
- R Shankar Raman elevated as President of L&T
- SBI General Insurance appoints Jaya Tripathi to lead Key Relations Group
- President of India presents Padma Awards at Rashtrapati Bhawan
- Former bureaucrat and educationist Moosa Raza dies at 87
- Urdu litterateur Salam Bin Razzaq passes away at 83
- Bajrang Punia suspended by UWW
- World Lupus Day 2024 is observed on May 10
- DRDO organises two-day National Symposium & Industry Meet on ‘Emerging Technologies in Infrastructure Development’
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