Daily Current Affairs – May 16, 2024
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Daily Current Affairs - Banking - May 16, 2024
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International News
3rd Session of India-Zimbabwe Joint Trade Committee Held In New Delhi
- During the third session of India-Zimbabwe Joint Trade Committee held in New Delhi, both sides reviewed the bilateral trade and explored the vast potential that exists between the two countries.
- They have agreed to explore cooperation in digital transformation solutions, tele-medicines, rough diamonds, fast payment systems and traditional medicine.
- Both sides agreed to make concerted efforts towards enhancing bilateral trade and identified several areas of focus for enhancing bilateral cooperation in pharmaceuticals, geospatial, healthcare, machinery and mechanical appliances, vehicles, mineral fuels, mineral oils, renewable energy, digital economy, and textiles.
- Zimbabwe – Harare (Capital) – Zimbabwean Gold & U.S. dollar (Currency) – Emmerson Mnangagwa (President) – 16 Official Languages (Official Language)
PhonePe collaborates with LankaPay to promote UPI payment acceptance in Sri Lanka
- PhonePe has enabled UPI payment acceptance in collaboration with LankaPay across LankaQR merchant points at a grand event held in Colombo.
- PhonePe announced that its app users travelling to Sri Lanka can now make payments using UPI across LankaPayQR merchants
- Users can simply scan LankaQR code to make secure and quick payments without carrying cash or calculating currency conversions.
- Their account will be debited in INR, showing the currency exchange rate.
- These transactions are facilitated by the Unified Payments Interface (UPI) and LankaPay National Payment Network.
- Sri Lanka – Sri Jayawardenepura Kotte (legislative) Colombo (executive and judicial) (Capital) – Sri Lankan rupee (Currency) – Ranil Wickremesinghe (President) – Dinesh Gunawardena (Prime Minister) – Sinhala & Tamil (Official Language)
5th Meeting of India-UAE Joint Committee On Consular Affairs Held in New Delhi
- The 5th meeting of Joint Committee on Consular Affairs (JCCA) was held in New Delhi.
- The Indian delegation was led by Muktesh Pardeshi, Secretary (CPV & OIA), Ministry of External Affairs and UAE delegation was led by E. Mr. Khaled Belhoul, Permanent Secretary of the Ministry of Foreign Affairs of the UAE.
- The two sides held wide-ranging discussions on mechanisms to strengthen coordination and co-operation on Consular issues covering labour, visa, migration, citizenship and extradition, among others.
- Both sides reiterated their commitment to continue to work towards citizen-centric consular mechanisms and also discussed other issues of mutual interest including visa facilitation for promoting greater people-to-people exchanges and early conclusion of agreements related to migration and mobility.
2nd Round of Foreign Office Consultations between India and Eritrea held in Delhi
- The 2nd round of Foreign Office Consultations FOC between India and Eritrea was held in New Delhi.
- The Indian Delegation was led by the Joint Secretary (West Asia and North Africa Division) in the Ministry of External Affairs M. Suresh Kumar and Director General in the Ministry of Foreign Affairs of Eritrea Ibrahim Osman Mahmud led the Eritrean delegation.
- The first round of political consultation was held in October 2018 in Asmara, Eritrea.
- They focused on further promoting developmental cooperation and capacity building in the spirit of South-South cooperation and also discussed existing cooperation in the fields of agriculture and food processing, health, pharmaceuticals, renewable energy, mining, trade and investment and ways to further broaden and deepen their cooperation.
- Eritrea – Asmara (Capital) – Nakfa (Currency) – Isaias Afwerki (President) – Tigrinya, Arabic, and English (Working Language)
India, Russia Hold Bilateral Consultations On Afghanistan in New Delhi
- India and Russia held bilateral consultations on Afghanistan in New Delhi.
- Russian Special Presidential Envoy for Afghanistan Zamir Kabulov and Joint Secretary (Pakistan, Afghanistan and Iran Division) in the Ministry of External Affairs JP Singh discussed the current situation in Afghanistan.
- They emphasized on the need to provide development assistance for the welfare of the Afghan people.
Banking and Finance
TATA AIG debuts India’s first satellite liability insurance
- TATA AIG has unveiled India’s first satellite in-orbit third-party liability insurance policy, targeting the specific needs of satellite operators and manufacturers within the country’s rapidly growing space industry.
- This policy offers coverage for third-party injuries and property damage resulting from satellite operations, complying with global standards and practices.
- TATA AIG General Insurance Company Limited – a collaborative venture between the TATA Group and American International Group (AIG).
Business and Economy
India Registers Record Export at USD 778 Billion in 2023-24
- India registered record exports in the just concluded financial year 2023-24 at $778 billion.
- In the financial year 2022-23, the combined value of exported goods and services stood at $776.3 billion.
- In 2023-24, services exports increased from $325.3 billion to $341.1 billion, while merchandise exports marginally declined from $451.1 billion to $437.1 billion.
- China, Russia, Iraq, UAE, and Singapore are among the countries where India’s exports in the just-concluded financial year have risen substantially, though with a low base.
- The other countries in the Top 10 list are the UK, Australia, Saudi Arabia, the Netherlands, and South Africa.
- Meanwhile, there was a decline in overall imports from $898.0 billion in 2022-23 to $853.8 billion in 2023-24.
- Moreover, the trade deficit showed significant improvement, shrinking from $121.6 billion in 2022-23 to $75.6 billion in 2023-24.
Agreements and MoUs signed
ReNew signs MoU with Societe Generale to provide financing for energy transition projects
- ReNew has signed a Memorandum of Understanding (MoU) with Societe Generale for providing up to $1 billion financing for development of energy transition projects both in India and overseas over the next three years.
- Under the MoU both parties will leverage their respective expertise to strengthen the collaboration on utility-scale energy projects including solar, wind, complex renewables, green hydrogen, energy storage and solar modules
Appointments
UNDP Administrator Appoints Alain W. Noudéhou as the new Executive Director of the UN Multi– Partner Trust Fund Office (MPTFO)
- United Nations Development Programme Administrator Achim Steiner announced the appointment of Alain Noudéhou of Benin as the new Executive Director of the UN Multi – Partner Trust Fund Office (MPTFO).
- He succeeds Jennifer Topping of Canada, who will complete her assignment by the end of May 2024.
- Before that, he was the Deputy Special Representative of the UN Secretary General in the United Nations Mission in South Sudan (UNMISS), and Resident Coordinator and Humanitarian Coordinator in South Sudan.
Awards and Recognitions
IN-SPACe honoured with Geospatial World Forum Leadership Award
- The Indian National Space Promotion and Authorization Centre (IN-SPACe) has been honoured with the Geospatial World Forum (GWF) Leadership Award for “Public Policy: Enabling Industry Development.”
- The award was presented at the 2024 Geospatial World Forum in Rotterdam in a special ceremony.
- The award recognizes IN-SPACe’s contributions to the global geospatial industry through its ground-breaking work in fostering the growth and development of India’s space sector and support to non-government entities working in the space economy.
- The GWF Leadership Awards, presented annually at the Geospatial World Forum, acknowledge individuals and organizations that have made exceptional contributions to the geospatial field and demonstrated innovation in addressing global challenges.
Obituary
Veteran Congress Leader Kamla Beniwal passes away
- Veteran Congress leader and former governor of Gujarat Kamla Beniwal passed away at the age of 97.
- She served as Deputy Chief Minister of Rajasthan in 2003 and was elected as MLA seven times.
- She was also the chairperson and member of various committees of the Rajasthan Legislative Assembly.
- She also served as 11th Governor of Tripura, 18th Governor of Gujarat and 10th Governor of Mizoram.
Sports News
Matthews and Waseem named ICC Players of the month for April
- West Indies skipper Hayley Matthews wins her third ICC Women’s Player of the Month for April after previously winning in November 2021 and October 2023.
- UAE skipper Muhammad Waseem has been named as the ICC Men’s Player of the Month for April and became the first-ever player from UAE to win the ICC Player of the Month
Joshna-Abhay duo claims mixed doubles title at National doubles squash Championship
- Joshna Chinappa and Abhay Singh beat Rathika Suthanthira Seelan and Harinder Pal Singh Sandhu to become the mixed doubles champions of the HCL National doubles squash championship at the Indian Squash and Triathlon Academy (ISTA).
- Men’s Title: Abhay Singh and Velavan Senthilkumar beat Rahul Baitha and Suraj Chand
- Women’s Title: Rathika Suthanthira Seelan and Pooja Arthi beat Janet Vidhi and Nirupama Dubey
Neeraj Chopra Wins Gold in Federation Cup
- In men’s javelin throw, Olympic champion Neeraj Chopra won the gold medal in Federation Cup 2024 in Bhubaneswar, Orissa.
- He took part in a domestic competition at the same event in 2021, when he won a gold with a throw of 87.80m.
FIFA Confirm First Ever Women’s Club World Cup Will Kick Off in 2026
- FIFA has officially announced the scheduled dates for the inaugural Women’s Club World Cup tournament, slated to take place in January and February of 2026.
- The tournament’s first edition is expected to feature 16 teams.
- The Women’s Club World Cup would likely allow top European teams from the UEFA Women’s Champions League to face clubs from the United States’ National Women’s Soccer League, as well as sides from countries where the women’s game is less developed.
- Fédération internationale de football association FIFA (International Association Football Federation) – 21/05/1904 (Founded) – Zurich, Switzerland (HQ) – Gianni Infantino (President)
Sunil Chhetri Announces Retirement from International Football
- India’s football paragon Sunil Chhetri announced his decision to retire from international football.
- The national team captain will play his final match against Kuwait in the FIFA World Cup qualification on June 6.
- He made his debut in 2005 against Pakistan, has netted 94 goals for the country.
- HE has garnered six AIFF Player of the Year awards and also been honoured with the Padma Shri in 2019 and the Arjuna Award in 2011.
- All India Football Federation (AIFF) – 23/06/1937 (Founded) – New Delhi (HQ) – Kalyan Chaubey (President)
Important Days
International Day of Light 2024 is observed on May 16
- International Day of Light is annually observed on May 16.
- The day celebrates the role light plays in science, culture and art, education, and sustainable development, and in fields as diverse as medicine, communications, and energy.
- In the year 1960, Physicist and Engineer Theodore Maiman conducted the first successful operation of the laser.
- To commemorate the special day in 2015, the United Nations observed International Day of Light to raise awareness about light science and light-based technologies and applications.
- Following this, in 2016, UNESCO adopted the resolution to celebrate International Day of Light every year.
- The first International Day of Light was observed in 2018.
International Day of Living Together in Peace 2024 is observed on May 16
- International Day of Living Together in Peace is annually observed on May 16.
- The Day aims to uphold the desire to live and act together, united in differences and diversity, in order to build a sustainable world of peace, solidarity and harmony.
- In 2017, the United Nations General Assembly passed a resolution declaring 16 May the International Day of Living Together in Peace.
- The day was first observed in 2018.
- In 1997, the General-Assembly proclaimed – by its resolution 52/15 — the year 2000 as the “International Year for a Culture of Peace”.
- In 1998, it proclaimed the period 2001-2010 as the “International Decade for a Culture of Peace and Non-Violence for Children of the World.”
Defence
Indian Army set to receive Igla-S air defence systems partly assembled in India
- The Indian Army is all set to begin receiving another set of Russian Igla-S very short range air defence systems (VSHORAD) by the end of May or early June 2024, filling a critical void in the its air defence requirements which has been repeatedly delayed.
- In another development, multiple sources confirmed that the payments issue between India and Russia that has held up critical payments for defence deals as well as payments has been resolved.
- The Army is also set to receive the first of two Israeli Hermes-900 Medium Altitude Long Endurance Unmanned Aerial Vehicles (UAV) assembled by ADSTL in Hyderabad June 2024.
- The Igla-S systems were contracted last year under the fourth tranche of Emergency Procurements (EP) and are being assembled by Adani Defence Systems And Technologies Limited (ADSTL) in India under technology transfer from Rosoboronexport, multiple official sources confirmed.
- Under this, the Army contracted 48 Igla-S launchers, 100 missiles, 48 night sights and one missile testing station under a ₹260 crore contract and deliveries are set to begin by End-May 2024.
- The order was placed to ADSTL.
- The missile will be imported and some parts like sights, launcher, and battery will be assembled/manufactured here by Adani defence.
Indian Air Force Testes BHISHM State-Of The-Art Indigenous Mobile Hospital, For Airdrop in Agra
- Indian Air Force has tested BHISHM Cube, a state-of the-art indigenous mobile hospital, for airdrop in Agra.
- This innovative technology is a great leap forward in providing rapid and comprehensive medical aid during emergencies anywhere.
- This cube is a part of the broader initiative named Project BHISHM – Bharat Health Initiative for Sahyog, Hita and Maitri, is tailored to treat up to 200 casualties.
- These cubes are robust, waterproof, and light, designed for various configurations, making them ideal for diverse emergency scenarios.
Daily Current Affairs - May 16, 2024 - Consolidated
- 3rd Session of India-Zimbabwe Joint Trade Committee Held In New Delhi
- PhonePe collaborates with LankaPay to promote UPI payment acceptance in Sri Lanka
- 5th Meeting of India-UAE Joint Committee On Consular Affairs Held in New Delhi
- 2nd Round of Foreign Office Consultations between India and Eritrea held in Delhi
- India, Russia Hold Bilateral Consultations On Afghanistan in New Delhi
- TATA AIG debuts India’s first satellite liability insurance
- India Registers Record Export at USD 778 Billion in 2023-24
- ReNew signs MoU with Societe Generale to provide financing for energy transition projects
- UNDP Administrator Appoints Alain W. Noudéhou as the new Executive Director of the UN Multi– Partner Trust Fund Office (MPTFO)
- IN-SPACe honoured with Geospatial World Forum Leadership Award
- Veteran Congress Leader Kamla Beniwal passes away
- Matthews and Waseem named ICC Players of the month for April
- Joshna-Abhay duo claims mixed doubles title at National doubles squash Championship
- Neeraj Chopra Wins Gold in Federation Cup
- FIFA Confirm First Ever Women’s Club World Cup Will Kick Off in 2026
- Sunil Chhetri Announces Retirement from International Football
- International Day of Light 2024 is observed on May 16
- International Day of Living Together in Peace 2024 is observed on May 16
- Indian Army set to receive Igla-S air defence systems partly assembled in India
- Indian Air Force Testes BHISHM State-Of The-Art Indigenous Mobile Hospital, For Airdrop in Agra
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