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Daily Current Affairs – May 14, 2024

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Daily Current Affairs - Banking - May 14, 2024

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National News

Ramcharitmanas, Panchatantra, and Sahṛdayāloka-Locana enter ‘UNESCO's Memory of the World Asia-Pacific Regional Register’

  • The Ramcharitmanas, Panchatantra and Sahdayāloka-Locana have been included in ‘UNESCO’s Memory of the World Asia-Pacific Regional Register’.
  • This inclusion is a proud moment for India, a confirmation of the country’s rich literary heritage and cultural legacy.
  • It signifies a step forward in global cultural preservation efforts, highlighting the importance of recognizing and safeguarding the diverse narratives and artistic expressions that shape our shared humanity.
  • The ‘Ramcharitmanas’, ‘Panchatantra’, and ‘Sahṛdayaloka-Locana’ are such timeless works that have deeply influenced Indian literature and culture, shaping the nation’s moral fabric and artistic expressions.
  • These literary works have transcended time and place, leaving an indelible mark on readers and artists both within and outside India.
  • It is noteworthy that ‘Sahṛdayaloka-Locana’, ‘Panchatantra’, and ‘Ramcharitmanas’ were authored by Acharya Anandvardhan, Pt. Vishnu Sharma, and Goswami Tulsidas, respectively.
  • The Indira Gandhi National Centre for the Arts (IGNCA), played a vital role in securing a historic moment during the 10th meeting of the Memory of the World Committee for Asia and the Pacific (MOWCAP).
  • At the gathering in Ulaanbaatar, 38 representatives from member states convened alongside 40 observers and nominees.
  • This marks the first time IGNCA has submitted nominations to the Regional Register since its inception in
  • Along with these 17 other items where inscribed during the 2024 cycle of the Memory of the World Regional Register at the 10th General Meeting of the Memory of the World Committee for Asia and the Pacific (MOWCAP), in Ulaanbaatar, Mongolia.
  • The Meeting was hosted by the Ministry of Culture of Mongolia, the Mongolian National Commission for UNESCO, and the UNESCO Regional Office in Bangkok.
  • The first inscriptions on UNESCO’s Memory of the World Register were made in 1997.
  • Previous India related

    Year Inscribed

    Documentary Heritage



    The I.A.S. Tamil Medical Manuscript Collection

    Institute of Asian Studies, Chennai


    Archives of the Dutch East India Company

    Indonesia, Netherlands, South Africa & Sri Lanka


    Shaiva Manuscript in Pondicherry

    French Institute of Pondicherry, Pondicherry



    Bhandarkar Oriental Research Institute, Pune



    Khuda Bakhsh Oriental Library, Patna


    Laghukālachakratantrarājatīka Vimalaprabhā

    The Asiatic Society, Kolkata


    Shāntinātha Charitra

    Lalbhai Dalpatbhai Museum, Ahmedabad


    Gilgit Manuscript

    National Archives of India, New Delhi



    Maitreyayvarakarana Asiatic Society, Kolkata

State News

1st Edition of Siang Biodiversity Meet- 2024 Underway at Gobuk & Ramsing Villages in Upper Siang District

  • In Arunachal Pradesh, the 1st Edition of the “Siang Biodiversity Meet- 2024″ is underway at Gobuk and Ramsing villages in Upper Siang District.
  • The Week-long event is being organized by Gobuk Welfare Society in collaboration with Epum Sirum Welfare Society with the support of Titli Trust and Mouling National Park cum Wildlife Division.
  • In Upper Siang District alone, 10 new species of moth were discovered in recent years and was published in the international scientific journal Tropical Lepidoptera Research.
  • These discoveries of new species opened the door for the ‘Siang Biodiversity Meet’ in the district.

Banking and Finance

SBI is 1st bank as trading-clearing member of IIBX

  • State Bank of India (SBI), has become the first trading-cum-clearing member at the India International Bullion Exchange (IIBX) – the country’s first bullion exchange in GIFT City Gandhinagar.
  • This enables SBI’s IFSC Banking unit (IBU) to trade on the IIBX platform.
  • This will help boost gold and silver trading volumes at the IIBX.
  • The Reserve Bank of India recently permitted IBUs to act as trading members and trading and clearing members at IIBX as special category clients (SCCs) to import gold through bullion exchange.

Piramal Group invests ₹600 crores in Annapurna Finance

  • Piramal Alternatives, the fund management division of the Piramal Group, announced an investment of ₹600 crores in Annapurna Finance Private Ltd, a non-banking finance company focussed on
  • The deal involved a combination of secondary purchase of shares and providing Tier-2 capital.
  • The structured capital solution will help fuel the risk calibrated growth of company’s assets under management.
  • Annapurna is one of India’s leading microfinance institutions headquartered in Odisha with assets under management in excess of $1.25 billion as on March 31, 2024.
  • A Pan-India player with presence in 20 states, the company has also diversified into MSME financing.

RBI’s gold holding increases by 27.46 metric tonnes in FY24

  • According to its “Half Yearly Report on Management of Foreign Exchange Reserves”, Reserve Bank of India’s gold holding increased by 46 metric tonnes in FY24 to 822.10 metric tonnes as at End-March 2024.
  • In value terms (USD), the share of gold in the total foreign exchange reserves increased to about 8.15 per cent as at End-March 2024 from about 7.81 per cent as at End-March 2023.

Business and Economy

Retail Inflation Eases to 4.83% in April, 2024

  • The annual inflation rate based on all India Consumer Price Index (CPI) number is 4.83% (Provisional) for the month of April, 2024 (over April, 2023).
  • Corresponding inflation rate for rural and urban is 5.43% and 4.11%, respectively.
  • CPI for the months of January, February and March 2024 are 5.10, 5.09 and 4.85 respectively.

Whole Sale Price Inflation Eases to 1.26% in April

  • Wholesale Price Index (WPI)-based inflation surged to a 13-month high of 1.26 per cent in April, surpassing the estimated one per cent mark.
  • Comparatively, March wholesale inflation was 0.53 per cent, outperforming the forecast 0.20 per cent.
  • January’s wholesale inflation stood at 0.27 per cent.

CTCRI launches ₹4 crore research project to develop new tapioca varieties

  • The ICAR-Central Tuber Crops Research Institute (CTCRI) in Thiruvananthapuram has embarked on a ₹4 crore research project for developing new tapioca varieties with waxy or high-amylose starches that are useful in industry with the help of CRISPRCas9 genome editing technology.
  • Tapioca (cassava) varieties available in India have limited scope in industry owing to their starch composition, which, on an average, is 20 per cent amylose and 80 per cent
  • It is also used in low-calorie food products and in biofilms, coatings, textiles and paper.
  • CRISPR-Cas9 was adapted from a naturally occurring genome editing system that bacteria use as an immune defence.
  • When infected with viruses, bacteria capture small pieces of the viruses’ DNA and insert them into their own DNA in a particular pattern to create segments known as CRISPR arrays.

Agreements and MoUs signed

India signed a Long-Term Deal with Iran for Chabahar Port Operations

  • In a significant milestone for the India-Iran relationship and to foster close cooperation to make Chabahar Port a regional trade transit and connectivity hub, the two countries signed a long-term contract for operating the Shahid-Beheshti Port Terminal.
  • The Indian delegation to Iran was led by Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal, while Iran side was led by Mehrdad Bazrpash, Minister for Roads and Urban Development.
  • The 10-year Contract was signed between India Ports Global Ltd (IPGL) and the Ports & Maritime Organisation of Iran (PMO).
  • Under the Contract, IPGL will commit to further equipping and operating the port for the duration of the Contract.
  • At the end of the 10-year period, both sides would further extend their cooperation in Chabahar.
  • IPGL will invest approximately $120 million in equipping the port.
  • India has also offered an IN credit window equivalent to $250 million, for mutually identified projects aimed at improving Chabahar-related infrastructure.
  • The Chabahar Port is an India-Iran flagship project that serves as an important transit port for trade with Afghanistan and Central Asian countries, which are landlocked countries.
  • India has been a key player in the development and operation of Chabahar Port.
  • Iran – Tehran (Capital) – Iranian rial (Currency) – Ali Khamenei (Supreme Leader) – Ebrahim Raisi (President) – Persian (Official Language)

Bank of India signs MoU with Indian Coast Guard for Rakshak Package

  • Bank of India signed MoU with the Indian Coast Guard, offering a Defence service salary package with best in class features under its “BOI Rakshak Salary/ Pension Savings Scheme”.
  • Through this exclusive BOI Rakshak Package, Bank of India will offer numerous benefits to all ranks of the Indian Coast Guard, Veterans, Recruits and Agniveers including Personal Accidental Insurance coverage up to Rs 150 lakh, permanent total disability cover up to ₹50 lakhs, air accidental cover up to ₹100 lakh and permanent partial disability cover of ₹25 lakhs.
  • Apart from this the bank will also offer concessions in retail loans, processing charges and locker rentals.
  • BOI’s digital Initiative and BOI Mobile Omni Neo app will also enable the Defence personnel at borders and other remote areas to stay connected and get easy access to bouquet of financial solutions.

Science and Technology

OpenAI launches GPTo

  • OpenAI has unveiled GPT-4o, the latest iteration of its generative pre-trained transformer (GPT) models, marking a significant advancement in the AI field. GPT-4o, where “o” stands for “omni,” introduces a new era of human-computer interaction by accepting and generating combinations of text, audio, and image inputs and outputs.
  • This model represents a leap towards more natural interaction capabilities, boasting response times to audio inputs as swift as 232 milliseconds, rivalling human conversational response times.
  • GPT-4o not only matches the performance of its predecessor, GPT-4 Turbo, in processing English text and code but also shows marked improvements in understanding non-English languages.
  • It outperforms existing models in vision and audio comprehension, all while being twice as fast, 50% more cost-effective, and supporting five times higher rate limits in the API.
  • The introduction of GPT-4o is a game-changer for voice interaction.
  • Previously, ChatGPT’s Voice Mode relied on a three-model pipeline, leading to significant latencies and a loss of information such as tone and background noise.
  • GPT-4o streamlines this process with a single model handling end-to-end processing across text, vision, and audio, enhancing the model’s ability to interpret and generate more nuanced communications.

NASA plans to build railway station, run trains on Moon

  • NASA is venturing to establish the first fully operational railway station on the Moon, aiming to facilitate reliable and efficient payload transport across the lunar surface.
  • This initiative comes as part of broader efforts to expand lunar exploration and establish functional lunar bases.
  • NASA’s proposed system, named Flexible Levitation on a Track (FLOAT), introduces magnetic levitation technology over a flexible film track structure.
  • Unlike conventional trains, these FLOAT robots will employ unpowered magnetic levitation, utilising diamagnetic levitation to passively float over tracks.
  • FLOAT robots are engineered to mitigate lunar dust abrasion and wear, a common challenge faced by traditional wheeled or tracked lunar vehicles.
  • By levitating over the track, these robots minimize surface contact, ensuring longevity and operational efficiency.
  • The proposed FLOAT system boasts impressive payload transportation capabilities, capable of transporting payloads of varying shapes at speeds of up to 5 meters per second.
  • Additionally, a large-scale FLOAT system could potentially move up to 100,000 kg of regolith over multiple kilometers per day, facilitating essential lunar base operations.
  • National Aeronautics and Space Administration (NASA) – 29/07/1958 (Founded) – Washington DC (HQ) – Bill Nelson (Administrator)

Acquisitions and Mergers

Coromandel International raises stake in drone firm Dhaksha

  • Agriculture solutions provider Coromandel International is acquiring an additional 7% stake in Dhaksha Unmanned Systems for ₹150 crore taking its shareholding in the Chennai-based drone maker to 58%.
  • Dhaksha was incorporated in 2019 provides a range of Unmanned Aerial Systems (UAS) for use in agriculture, defence, surveillance and enterprise applications and also offers remote pilot training services.

Shriram Finance to sell Shriram Housing Finance to Warburg Pincus for ₹4,630 crore

  • Shriram Finance Limited (SFL) has approved the sale of its housing finance subsidiary Shriram Housing Finance Limited (SHFL) to Warburg Pincus.
  • Warburg Pincus will acquire the stake through its affiliate Mango Crest Investment Ltd from all the sellers.
  • The proposed transaction is valued at ₹4,630 crore for equity and convertible instruments of SHFL.
  • SFL owns 84.82 percent in Shriram Housing Finance, while 14.94 percent stake is held by San Fransisco, California-based private equity player Valiant Capital Management.


IPS officer Nongrang becomes Meghalaya's first woman police chief

  • Senior IPS officer Idashisha Nongrang has been appointed as Meghalaya’s first woman Director General of Police (DGP).
  • She will replace LR Bishnoi who will retire on May 19.
  • Kanchan Chaudhary Bhattacharya was the first women DGP in India, she served as DGP in Uttarakhand and was the second woman officer in Indian Police Service (IPS) in India, after Kiran Bedi.

Awards and Recognitions

Hindustan Shipyard Limited was awarded with 'PSU Samarpan Award' by Gov Connect

  • Hindustan Shipyard Limited’s (HSL) Chairman and Managing Director (C&MD) Cmde Hemant Khatri has been honoured with the esteemed ‘PSU Samarpan Award’ by Gov Connect at the award ceremony held in New Delhi.
  • The ‘PSU Samarpan Award’ acknowledges the significant contributions of Public Sector Undertakings to the country’s progress was awarded by Gov Connect, is an initiative by ilouge Media.


Bihar Ex- Deputy CM Sushil Modi passes away

  • Senior BJP leader Sushil Modi passed away at the age of 72.
  • He was the 4th Deputy Chief Minister of Bihar from 2005 to 2013 & 2017 to 2020 under Nitish Kumar.
  • He represented Bhagalpur Lok Sabha Constituency of Bihar in 2004 and also represented Member of Parliament, Rajya Sabha from Bihar between 2020- 2024.

Sports News

Indian Gymnast Srishti Khandagale Wins Silver At Asian Trampoline Gymnastics Championships

  • India’s Srishti Khandagale scripted history by becoming the first ever Indian to win a medal at the Asian Trampoline Gymnastics Championships.
  • She clinched the silver medal in Women’s Individual Age group category at the 6th Asian Trampoline Gymnastics Championship held in Hong Kong, China.
  • Kazakhstan’s Dolgopolova secured the gold medal, while Hong Kong’s S Hung won the bronze.

Japan beat Pakistan in Sultan Azlan Shah Cup 2024 Final

  • Japan beat Pakistan at Sultan Azlan Shah Cup 2024 Final held at Azlan Shah Stadium in Ipoh, Malaysia.
  • The Sultan Azlan Shah Cup is an annual invitational international men’s field hockey tournament held in Malaysia.
  • The tournament is named after the 9th Yang di-Pertuan Agong (King) of Malaysia, Sultan Azlan Shah, a supporter of field hockey.
  • India previously clinched the title in 1985, 1991, 1995, 2009 and in 2010 jointly with South Korea.


India- France Joint Military Exercise SHAKTI commenced in Meghalaya

  • The 7th edition of India- France Joint Military Exercise SHAKTI commenced at Umroi, in a fully developed and modern Foreign Training Node in
  • The Opening Ceremony of the joint exercise was attended by E. Thierry Mathou, Ambassador of France to India and Major General Prasanna Sudhakar Joshi, General Officer Commanding 51 Sub Area.
  • Exercise SHAKTI is a biennial training event conducted alternatively in India and France since
  • Indian contingent comprising 90 personnel is being represented primarily by a Battalion of the RAJPUT Regiment besides personnel from other arms and services.
  • Observers from the Indian Navy and the Indian Air Force will also form part of the exercise.
  • The French contingent comprising 90 personnel will be represented mainly by personnel from the 13th Foreign Legion Half- Brigade (13th DBLE).
  • Last edition was conducted in France in November 2021.
  • Aim of Exercise SHAKTI is to enhance joint military capability of both sides to undertake multi-domain operations in a Sub Conventional scenario under Chapter VII of the United Nations Mandate.
  • The joint exercise will focus on operations in the semi-urban and mountainous terrain.
  • Objectives to be achieved from the joint training are high degree of physical fitness, rehearsing and refining drills for operations at tactical level and sharing of best practices.
  • France – Paris (Capital) – Euro (Currency) – Emmanuel Macron (President) – Élisabeth Borne (Prime Minister) – French (Official Language)

Daily Current Affairs - May 14, 2024 - Consolidated

  • Ramcharitmanas, Panchatantra, and Sahdayāloka-Locana enter ‘UNESCO’s Memory of the World Asia-Pacific Regional Register’
  • 1st Edition of Siang Biodiversity Meet- 2024 Underway at Gobuk & Ramsing Villages in Upper Siang District
  • SBI is 1st bank as trading-clearing member of IIBX
  • Piramal Group invests ₹600 crores in Annapurna Finance
  • RBI’s gold holding increases by 27.46 metric tonnes in FY24
  • Retail Inflation Eases to 4.83% in April, 2024
  • Whole Sale Price Inflation Eases to 1.26% in April
  • CTCRI launches ₹4 crore research project to develop new tapioca varieties
  • India signed a Long-Term Deal with Iran for Chabahar Port Operations
  • Bank of India signs MoU with Indian Coast Guard for Rakshak Package
  • OpenAI launches GPTo
  • NASA plans to build railway station, run trains on Moon
  • Coromandel International raises stake in drone firm Dhaksha
  • Shriram Finance to sell Shriram Housing Finance to Warburg Pincus for ₹4,630 crore
  • IPS officer Nongrang becomes Meghalaya’s first woman police chief
  • Hindustan Shipyard Limited was awarded with ‘PSU Samarpan Award’ by Gov Connect
  • Bihar Ex- Deputy CM Sushil Modi passes away
  • Indian Gymnast Srishti Khandagale Wins Silver At Asian Trampoline Gymnastics Championships
  • Japan beat Pakistan in Sultan Azlan Shah Cup 2024 Final
  • India- France Joint Military Exercise SHAKTI commenced in Meghalaya

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